The Sunday News
A CORONAVIRUS-DRIVEN short, sharp global recession risk is growing and investors are urged to take steps now to build and protect their wealth, warns the CEO of one of the world’s largest financial advisory organisations.
The warning from Nigel Green, the chief executive and founder of deVere Group, comes as confirmed cases rise and governments and central banks around the world are taking increasingly aggressive measures to try and combat the economic impact of the outbreak.
Among the steps being taken, the US Federal Reserve announced that it would slash interest rates by half a percentage point.
The All Share index closed the week on a higher note adding 2.77 points (0,60 percent) to close at 464.81 points. BAT added $3,7143 to $88,0000, CBZ Holdings rose by $0,1851 to $1,4601 and Delta Corporation Limited was $0,1342 stronger at $5,9510. Two more counters to advance were Art Limited which increased by $0,0947 to $0,6000 and Simbisa was $0,0301 firmer at $3,7007. Downwards movements were noted in Old Mutual Limited which dropped $0,1646 to $49,8354, Masimba Holdings eased $0,0562 to $0,3000 and ZPI Limited was $0,0245 weaker at $0,1750. Econet Wireless also decreased by $0,0234 to end at $2,6781 and Dawn properties lost $0,0055 to $0,1500.
