firm McKinsey predicts Unemployment in Europe could nearly double in the coming
months, with up to 59 million jobs at risk from permanent cutbacks.
economy shrank in the March quarter for the first time since current records
began almost three decades ago. GDP fell 6.8% in January-March, reversing a 6%
expansion in the fourth quarter of 2019.
edged higher after the close on Friday, as gains in the Oil & Gas,
Financials and Industrials sectors led shares higher. The Dow Jones rose 2.99%
to hit a new 1-month high, while the S&P rose 2.68%.
need at least another 500 billion euros from European Union institutions to
finance its economic recovery after the coronavirus pandemic, on top of the
agree half-a-trillion package.
Oil ended the day down 8% on the day and 18.5% on the
week despite a near 10-million barrels per day production cut agreed by OPEC
and other world producers.
Gold was down 2% closing at 1681.82 following
expectations about U.S. businesses coming back from the Covid-19 sparking