MARKET OPEN: Rally may be on the cards

Wed, 06 May 2020

A market rally may be on the cards today after some countries began to lift lockdown restrictions, spurring a lift in oil prices. Brent crude was up about 12 percent, according to Reuters, as Italy and some parts of the US – including California – eased their restrictions. “Traders have been driving prices higher in a technical move supported with numerous reports of countries beginning or at least preparing to come out of lockdown and the hope of a spike in demand,” said OMF treasury manager Stuart Ive. However, “the problem with the...

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