Coronavirus: Stocks surge globally after biggest daily rise since 2015 in China | Business News

Global stock markets have surged despite rising clusters of coronavirus infections threatening to derail economic recovery.

Investors took the lead from China’s benchmark Shanghai Composite index, which jumped by 5.8% on Monday to record its biggest daily increase in five years.

Analysts said the share spending spree was fuelled by cheap funding to invest in an economy that analysts predict will recover faster and better than other major countries battling new waves of infections.

They include the US, the world’s largest economy, which is enduring rising numbers of COVID-19 cases in 41 states with Florida witnessing record daily growth in confirmed sufferers.

Edward Moya, senior market analyst at OANDA in New York, said only a big acceleration in fatalities would likely affect market sentiment as the S&P 500 on Wall St ground out a fifth day of consecutive gains on Monday.

Europe and US trading saw sectors with strong exposure

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Apprenticeships only part of solution to rise in youth unemployment

Boris Johnson has promised to guarantee an apprenticeship for every young person, when he sets out measures to avert an unemployment crisis as the economy emerges from lockdown.

The pledge, made in an off-the-cuff answer at a briefing earlier this month, has raised hopes the government will address some flaws in the current system, which the Social Mobility Commission has found to be failing those from poorer backgrounds who would benefit most from on the job training.

As ministers tussle over the details of measures to support jobs and skills, set to be announced by the prime minister and chancellor Rishi Sunak as early as next week, employers and policy experts have warned that to be effective the boost in apprenticeships must be one element of a much broader package focused on young people.

The main problem with Mr Johnson’s promise is that employers are not in a position to

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Virus transmission starting to rise in England, scientists warn

Evidence suggests that the transmission rate of coronavirus across England is beginning to increase, scientists have warned, as lockdown restrictions are eased. As a result the current decline in the national death rate may not continue beyond mid-June, they said.

The study by Public Health England and Cambridge university highlights regional differences in Covid-19 transmission, with north-west England an area of particular concern. The R reproduction number there is probably just above 1, meaning that the number of infections is likely to rise.

On Friday the UK’s official coronavirus-related death toll breached the symbolic figure of 40,000 — double the number the UK’s chief scientific adviser Patrick Vallance said he hoped the UK would stay below. The government confirmed another 357 people who tested positive for the virus had died, taking the total official deaths figure to 40,261.

Sage, the government’s scientific advisory group for emergencies, estimated that R for

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Oil prices rise before OPEC+ meeting about extending output cuts

An aerial drone view of a crude oil storage facility on April 23, 2020 in Cushing, Oklahoma.

Tom Pennington | Getty Images

Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week.

Benchmark Brent crude rose 2.3%, or 88 cents, to $39.20 a barrel as of 0840 GMT. U.S. West Texas Intermediate (WTI) crude climbed 2%, or 72 cents, to $36.16 a barrel.

Brent has doubled in the past six weeks, thanks to supply cuts by the Organization of the Petroleum Exporting Countries and its allies, including Russia, a grouping known as OPEC+.

But oil prices are still 40% down so far this year.

OPEC+ producers are considering extending their production cuts of 9.7 million barrels per day (bpd), equivalent to about 10% of global production, into July or

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