What’s happening: Paris has imposed an overnight curfew. In London, it is forbidden to meet people from different homes indoors. The measure is an attempt to stem the rapid rise in Kovid-19 cases across the continent as hospital capacity again becomes a concern.
Shares of London, Paris, Milan and Frankfurt traded sharply higher on Thursday, ahead of Friday’s rally. Markets don’t offer tanking like markets do, but rapid change in weather still presents a cautious story.
Economists at Bank of America in Europe told him in a note to consumers on Friday: “Yes, that’s bad.”
“Local and surgical controls could be further disrupted if they continue to stabilize,” he said. “Precautionary savings, which are already large, can be driven by virus-related uncertainty. And voluntary social distance can easily increase the economic impact of virus relapse.”
The magnitude of the economic impact of the latest move is difficult to quantify, especially in countries such as the United Kingdom where patchwork responds, where cities like Liverpool face even stricter rules than London.
“Tracking the scale and scope of controls [of] “It is very important to move forward,” said Sanjay Raja, an economist at Dr Import Bank. He is sticking to the 2% growth forecast in the United Kingdom between October and December, but said the economy could stagnate completely if more sanctions are imposed.
Allianz now expects European economies to re-contract in the final quarter of the year, Spain’s economy to shrink by 1.3% compared to the previous quarter and France’s economy to shrink by 1.1%.
The bigger picture: There is little reason to think that Europe’s leaders are facing – act decisively and try to avert a health crisis or take moderate measures to secure fragile economic benefits – it’s a local phenomenon.
Netflix has had a killer year. Can he continue it?
It should come as no surprise to anyone who is on their knees at home that Netflix is a knockout year.
Look at the stock: Shares have skyrocketed 64% in 2020, while the S&P 500 has moved closer to 8%.
Investors will tune in on Tuesday to see if Netflix can maintain momentum when it reports results for the July-September quarter. The company said in July that it expects to bring in about 2.5 million customers during the period.
Bank of America analysts believe that the number of customers may weaken this quarter, given the growing competition from players such as Disney + and NBC’s Peacock, the return on live sports and the increase in subscription cancellations.
Still, the company raised its target of% 670 a share, a 26% increase from Friday’s close, on confidence in the company’s long-term strategy.
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