(20 April 2020)DAILY MARKET BRIEF 1:Equities mixed.

<p>Stocks in China treaded water as the People’s Bank of China (PBoC) cut its key rate by 20 basis points to a record low of 3.85% as expected. This is the second time the PBoC cuts its key rate this year, and moving forward, Chinese authorities will stand ready to give the support the market needs to recover from the heavy Covid-19 crisis. The activity in China picks up at a better-than-expected pace, which, together with the monetary support, helps bettering the mood elsewhere in the world. </p>
<p>FTSE futures first fell below 5800p mark than reversed losses along with oil prices. The FTSE 100 is poised for a positive start in London, but British energy stocks will certainly feel the pinch of an unexpected wave of sell-off in oil markets. With this last move, investors sent a clear message to the supply-side that they must ramp up efforts significantly, if they want to reverse the situation in this market.</p>