* Petrocurrencies whipsawed with oil prices
* World FX rates in 2020 http://tmsnrt.rs/2egbfVh
(Updates prices and comment)
By Rodrigo Campos
NEW YORK, April 28 (Reuters) - Stock markets across the
globe managed to rise on Tuesday, riding out sharp swings on
Wall Street as mixed corporate earnings results and dramatic
moves in oil prices delivered yet another dose of investor
jitters.
Conflicting measures and warnings on the coronavirus
pandemic cast an uneasy tone.
Plans to ease major economies out of coronavirus lockdowns
were continuing even as experts issued fresh warnings against
reopening too soon. A predictive model showed the outbreak could
take more than 74,000 U.S. lives by August, compared with an
earlier forecast of 67,000, if the lockdown were to be lifted
too early. "There seems to be a conflict of opinion about the proper
course of action," said Andre Bakhos, managing director at New
Vines Capital LLC in Bernardsville, New Jersey. "More insights
back the belief that opening up early is not the best course of
action right now, because if we do and if we get a relapse, then
the next wave could even be worse."
Germany's coronavirus infection rate has edged up from
earlier this month and people should stay at home as much as
they can despite a lockdown relaxation last week, the head of an
institute for infectious diseases said. Reassuring UBS earnings lifted European banks nearly 5%,
while Wall Street digested upbeat numbers from industrial
conglomerate 3M Co MMM.N , a maker of N95 respirator masks, and
drugmaker Pfizer PFE.N .
U.S. crude futures endured a day of wild trading, rising as
much as 7% and falling 20%. BP's quarterly profit tumbled by
two-thirds and its debt climbed to its highest on record. The
energy major maintained its dividend despite warning of
exceptional uncertainty, and its shares rose 2.6%.
Investors are gearing up for one of the busiest weeks for
tech earnings, including reports from Microsoft MSFT.O ,
Alphabet GOOGL.O , Amazon AMZN.O and eBay EBAY.O .
The Dow Jones Industrial Average .DJI rose 82.68 points,
or 0.34%, to 24,216.46, the S&P 500 .SPX gained 5.47 points,
or 0.19%, to 2,883.95, and the Nasdaq Composite .IXIC dropped
41.05 points, or 0.47%, to 8,689.12.
The pan-European STOXX 600 index .STOXX rose 1.68%, and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.61%.
Emerging market stocks rose 0.98%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.61%
higher, while Japan's Nikkei .N225 lost 0.06%.
Oil prices were mixed with Brent hinging on sentiment about
the easing of lockdowns, while U.S. crude traders remained
cautious as storage capacities were filling up fast. O/R
U.S. crude CLc1 recently fell 0.16% to $12.76 per barrel,
and Brent LCOc1 was at $20.65, up 3.3% on the day.
"While wild price swings are set to last in the very near
term, we see more upside than downside from prices around $20
per barrel. The oil price should recover in the longer term,"
said Norbert Rücker, analyst at Swiss bank Julius Baer.
Petrocurrencies were whiplashed, too. Canada's dollar CAD=
and the Norwegian crown NOK= both recovered from early falls,
with the crown gaining as much as 1.5%.
Russia's rouble RUB= bounced back as much as 0.6%, while
Brazil's battered real BRL= strengthened 1.3% along with other
emerging market currencies. EMRG/FRX
The dollar dropped against a basket of peers. The dollar
index =USD fell 0.247%, with the euro EUR= up 0.08% to
$1.0837.
The Japanese yen strengthened 0.38% versus the greenback at
106.86 per dollar, while sterling GBP= was last trading at
$1.2447, up 0.15% on the day.
Sweden's central bank opted not to take its interest rates
back into negative territory on Tuesday, sending its currency up
1.6% against the dollar.
Markets are looking for any forward guidance from the U.S.
Federal Reserve, which is due to issue a policy statement at the
close of its two-day meeting on Wednesday. The European Central
Bank meets on Thursday. Analysts said it was unlikely the Fed would make further
major policy moves, given the scope and depth of its recent
action to counter the economic damage caused by the novel
coronavirus.
Benchmark 10-year notes US10YT=RR last rose 17/32 in price
to yield 0.6019%, from 0.654% late on Monday.
Spot gold XAU= dropped 0.4% to $1,706.93 an ounce.
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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
Stocks and oil https://tmsnrt.rs/2zECIeH
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