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Last Trade - 08/05/20

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.56bn
Position in Universe th / 6850

Reuters Insider - U.S. Morning Call: Stock index futures lower, Pence, Avianca, Stage Stores, Shanghai Disney

Tue 12th May, 2020 2:23pm
Click the following link to watch video:
Source: Reuters Insider

Description: U.S. stock index futures set to kick off the week on a cautious
note. Investors weigh easing lockdown measures against a reported a rise in
COVID-19 infections in places that have eased their measures early. U.S. Vice
President Mike Pence plans to be at the White House on Monday , said a
spokesperson. Avianca and Stage Stores file for bankruptcy. Plus, Shanghai
Disney reopens.
Short Link:

Video Transcript:

Hello there, I'm Angeline Ong. And welcome to your US Morning Call. Now stocks
in the US could start the week near the unchanged mark as investors weigh the
gradual reopening of some economies against reports of an uptick in new cases
in countries that have eased. They include South Korea and Germany. In the US
as well, many states are keen to re-open due to surging unemployment rates and
indeed many have. The problem is that there is no sign of infection rate
consistently falling. And in some of those states in the US that have eased,
the rate of new cases have risen. Meanwhile, Vice President Mike Pence is not
in quarantine and plans to be at the White House on Monday, said his
spokesperson. This is despite media reports that Pence was self-isolating
after a staff has tested positive for the novel coronavirus. Now in corporate
news, look out for chip makers at the open. Intel says it is in talks with the
US Defense Department about building factories domestically. Taiwan
Semiconductor Manufacturing has been in talks with the US Department of
Commerce but says no final decision has been made yet. And another day,
another corporate day casualty. Stage Stores has filed for Chapter 11
bankruptcy. The discount department store operator said due to the impact of
the outbreak, which made the already challenging retail environment worse, the
company had no choice but to take these actions. Stage joins a list of other
store chains that have collapsed, including Neiman Marcus and J. Crew Group.
United Airlines stands to lose up to $700 million in loans related to Avianca,
which has gotten bust. The world's second oldest airline, and Latin Americ's
second biggest airline, filed a bankruptcy after failing to meet a bond
payment deadline. Its pleas for a coronavirus aid from the Colombian
Government have also so far fallen on deaf ears. Now if it fails to come out
of bankruptcy, the Bogota-based airline would be one of the first major
carriers in the world to go under as a result of the global health crisis. And
finally, all masks and no fireworks as the house of mouse reopens in Shanghai.
This park has been closed for three months after the pandemic brought the
Magic Kingdom to a standstill. The reopening, although muted, will be a
glimpse into how Disney aims to recover. 

One of the most critical pieces of our being able to here is to be able to
maintain a very comfortable social distance for all of our guests inside the
park. So we've added markers throughout all the queue areas, anywhere where
our guests will congregate. So if you're waiting in the queue, for example,
this is at our main entrance of the park. Also any of the attraction and our
restaurants, shops, viewing areas for some of the smaller entertainment
performances, we've put markers in to tell people and instruct them where to
stand and where not to stand. Disney's $5.5 billion China flagship is the
first of six resorts around the while to reopen after the global outbreak. The
park is restricting visitor numbers to 20% of its day capacity, around 16,000
people. Tickets for the reopening has sold out for at least the next week so
an encouraging uptake so far but it is early days yet. And that's your US
morning call. I'm Angeline Ong and this is Reuters
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