REMYY Remy Cointreau SA (PK)

The latest Market Talks covering the impact of the coronavirus. Published exclusively on Dow Jones Newswires throughout the day.

1554 GMT - U.S. stocks turn negative after the CDC confirms the second US case of a deadly coronavirus that originated in China. The Dow falls 7 points to 29153 and the S&P 500 declines 0.2% to 3317. Energy companies slide with oil prices on demand worries and the health-care sector is a big decliner as well. Investors are seeking haven assets--gold gains 0.4%, the 10-year Treasury yields falls below 1.70% for the first time since early November and the dollar is at its strongest vs euro since November. (jonathan.vuocolo@wsj.com; @jonvuocolo)

1549 GMT - McDonald's joins a growing list of companies suspending some operations in China amid the coronavirus outbreak. The fast-food giant temporarily closes all restaurants in Wuhan, Ezhou, Huanggang, Qianjiang and Xiantao while health officials grapple with the virus. McDonald's was already requiring its workers in the country to wear masks and have their temperatures taken. Disney earlier said it was temporarily closing its Disneyland and Disneytown parks in Shanghai. McDonald's shares slip 0.2%. (colin.kellaher@wsj.com)

1313 GMT - Brent crude oil is down 0.4% at $61.77 a barrel and WTI futures are down 0.3% at $55.44 a barrel with the benchmarks on course to close out the week with losses of 4.6% and 5.3% amid an intensifying coronavirus outbreak. "Oil's beating continues as the lockdown situation keeps getting worse in China," Oanda's Edward Moya says. "Travel bans during the Lunar New Year holiday period are much worse than what the impact would be if the U.S. had bans during Thanksgiving and Christmas," he says. Russian media reports of a possible OPEC+ cut deal extension are having little impact on prices, Moya says, although OPEC's Mohammad Barkindo said Thursday such talk was premature, Reuters reports. (david.hodari@wsj.com; @davidhodari)

1026 GMT - Remy Cointreau could potentially take a "significant" hit from the coronavirus given the drinks maker's high exposure to China, CFO Luca Marotta says in a conference call following 3Q sales reporting. Under this scenario, the impact would translate to a "potential slowdown in the coming months," Marotta says. Remy Cointreau also suspended its guidance, citing a change in leadership and a new strategy in the works, but Marotta says the risk posed by the coronavirus also contributed to the company's decision not to back its existing goals. Remy Cointreau shares trade 8.8% lower at EUR102.10. (cristina.roca@dowjones.com)

0905 GMT - Copper prices are heading for biggest one-week fall in more than five months, as the spread of coronavirus raises worries that it will stifle activity in China's economy and hurt demand for industrial metals. Three-month copper futures are down 0.2% at $6,014 a metric ton, putting them on course to lose 2.1% for the week as a whole, which would mark their biggest weekly decline since early August. "China is the world's largest metal consumer and any slowdown in industrial activity could start to weigh on metals demand," says Wenyu Yao, a metals analyst at ING. Still, she expects base-metal markets to be quiet next week because the Shanghai Futures Exchange is closed for Lunar New Year. (joe.wallace@wsj.com)

(END) Dow Jones Newswires

January 24, 2020 11:46 ET (16:46 GMT)

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