- The price of US oil, as measured by WTI, has fallen to a 20-year low this morning. A price of $14.99 a barrel at the European markets, reflects the demand impact of covid-19 and concerns that there is not enough storage to keep all the excess crude.
- Equity markets across Europe have started the week on a positive note, thought to be at least partly driven by slowing infection rates and easing restrictions in parts of Europe.
- At the real economy level in the UK, there are concerns a number of high street names could come under severe pressure over the coming weeks. In a letter to the chancellor, Rishi Sunak, the heads of the chiefs of the British Retail Consortium and the British Property Federation, have proposed the introduction of a rent support scheme. As reported by the Financial Times, the letter said that the survival of retailers “is now being measured in weeks rather than years.”
Elsewhere, we have news from Secure Income REIT, who respond to reports over the weekend that Travelodge is seeking rent breaks from its landlords, as well as a quarterly update from BMO Real Estate, including NAV figures to 31 March 2020.
We also have news from Temple Bar, who have served 12 months protective notice to their manager, Ninety One UK.