Global markets on Friday continued a sharp decline due to the ongoing proliferation of a new type of coronavirus infection which has already recorded more than 50 countries
kaowenhua / DepositPhotos Outbreak and measures to combat slow economic activity worldwide, particularly in China. This leads to a reduction in oil demand. Economists have expressed fears that the epidemic could run global recession
Rawpixel / DepositPhotos
World markets on Friday continued a sharp decline due to the ongoing proliferation of a new type of coronavirus infection which has already recorded more than 50 countries. Outbreak and measures to combat nthey slow down economic activity worldwide, particularly in China. This leads to a reduction in oil demand. Economists have expressed fears that the epidemic could run a global recession, writes radio “Freedom”.
At the Asian stock exchanges on Friday of the quotation have fallen to 3-4 percent. On Thursday on the new York stock exchange the Dow Jones fell more than 4 percent – the largest drop in several years. Just a week stock prices fell more than 10 percent.
European stock markets fall by 4-5% in Friday trading, continuing a correction that began a day earlier, under pressure from worries about the spread of the coronavirus and its implications for the world economy. The composite index of the largest enterprises of the region Stoxx Europe 600 to 12:31 across Moscow fell by 4.54% to 371,78 points. At the end of trading Thursday, February 27, the indicator fell by 3.75% and has entered a phase of correction: its value fell by 10.2 percent from the record high in 433,90 of the item made at the close of trading on February 19, 2020.
For the current week, the index lost more than 12%, which is the most significant decline since 2008, when for the week ended 10 October, it fell by 21%.
Germany’s DAX was down by 5.05%, France’s CAC 40 to 4.54%, British FTSE 100 – 4,42%. The Spanish indicator, the IBEX 35 and the Italian FTSE MIB fell by 4.37% and 3.75%, respectively, reports “Interfax”.
the Price of a barrel of Brent oil has decreased to a threshold of 50 dollars. Russian Urals oil has been traditionally listed below. Russia’s budget is drawn up on the assumption that the average price of Urals oil will be in 2020 57 dollars per barrel.
Analysts are already calling the current worst week for global financial markets since the global crisis of 2008.
the RTS Index fell more than seven percent and stayed below 1300 points, according to the Moskovtion exchange. In turn, the index of Masuri fell by 5.43% to 2757,65 item.
the dollar calculations “tomorrow” grows by 1.55 ruble – to 67.56 rubles, reports RIA “Novosti”. This was the first time since September 2019. And the Euro exchange rate calculations “tomorrow” on 11:23 GMT Friday grew by 1.57 rubles – up to 74,11 ruble (up to 74.15 rubles). The Russian currency remains under pressure due to the continuing flight of investors from risky assets due to fears about the spread of coronavirus.
Loss of tour operators of Russia due to coronavirus are estimated at 27 billion roubles
the Association of tour operators of Russia (ATOR) previously estimated the total losses of the Russian tourist industry due to the closure of a number of direction in connection with the epidemic of coronavirus in the 27 billion rubles, said the Executive Director of ATOR Maya Lomidze.
She said that the amount includes losses in the sphere of outbound tourism in the period until 25 February, excluding losses due to the collapse of the Italian direction. Taken into account and payments to the tourists who refused to paid tours. Analysts Association continue to monitor the situation.
While the tour operators do not see a large number of cancellations of tours to Italy, despite the pleas of the government and recommendations of the Federal tourism Agency, said the press Secretary of the Russian Union of travel industry (PCT) Irina Tyurina.
“the Last few months Italy has actively booked on the February, and on March 8, the depth of sales of the tour operators came to October, so the ban implementation rounds hurt their plans. In connection with the recommendations of the Federal tourism Agency, the company was forced to cancel a year-round Charter programs in the country. However, from tours for the next date Russian tourists do not refuse, especially skiers – cancellations are rare. In case of cancellation, tour operators return the money for the tour according to the Russian legislation”, – she told.
According to Tyurina, the tour operators asked the head of Ministry of economic development Maxim Reshetnikov about assistance due to the closure of China, Italy, South Korea and Iran because of the coronavirus. In these areas work more than 40 companies. The PCT asked him to support the tour operators that work with these areas and help them to achieve a return of funds from partners, including airlines for paid tickets.
Similar letters sent to Deputy Minister Sergey Galkin and the head of the Federal tourism Agency Zarine Doguzova.
the Federal tourism Agency on January 24 gave a recommendation not to travel to China, and a month later, the Agency ordered operators to stop selling tours to Italy, the Republic of Korea and Iran.
If the situation with coronavirus continues to worsen, and will be followed by the closure of other areas of the Russian tourism industry may suffer serious structural losses, and without state support, a number of companies will be closed, warned Tyurin.