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30 November -0001 12:00 AM
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US sharemarkets rebounded from lows on after the World Health Organisation labelled the coronavirus a public health emergency of international concern. In response to earnings results, shares in Facebook fell by 6.1% while shares in Microsoft rose by 2.8%. Shares in Tesla rose by 10.3% after it reported its second straight quarterly profit. Shares in UPS fell by 6.8% after it reported full-year earnings below forecasts. At the close the Dow Jones index was up by 125 points or 0.4% after being down 244 points in early trade. The S&P500 index rose by 0.3% and the Nasdaq index was up by almost 24 points or 0.3%. Shares in Amazon rose 10% in after-hours trade after issuing earnings results. 

Global oil prices fell by around 2.5% on Thursday. Investors focussed on the lift of coronavirus cases to 8,100 with the death toll more than 170. OPEC oil countries were starting to discuss bringing forward the next meeting from March into early February. The Brent crude price fell by US$1.52 or 2.5% to US$58.29 a barrel. And the US Nymex price fell by US$1.19 or 2.2% to US$52.14 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Thursday. Nickel rose 0.6% and lead rose 0.1% but other metals fell 0.3-1.0% with tin down the most and aluminium down the least. 

The gold futures price rose by US$13.10 an ounce or 0.8% to US$1,583.50 an ounce. Spot gold was trading near US$1,575 an ounce in late US trade. Iron ore fell by US$2.60 or 3.0% to US$83.00 a tonne.

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Thursday 30 January - close. Aussie shares remained in negative territory while bouncing off intraday lows, with the ASX 200 slipping by 23.1 pts or 0.33 per cent to 7008.4. Following a tremendous start to 2020, the spread of the coronavirus has pushed markets off highs in recent weeks. With a day remaining in January however, this remains the best month since February 2019 for the local bourse. 

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