SQUAWK BOX, THURSDAY 23RD APRIL, 2020

Coronavirus casts a shadow over Q1 earnings…Credit Suisse reports a 75 per cent rise in first-quarter net profit amid exceptional levels of client activity. However, the Swiss lender has set aside CHF568m for potential loan losses. Daimler is warning of a 70 per cent drop in earnings due to a collapse in demand amid the Coronavirus pandemic. French hotel giant Accor says it expects April and May to be its toughest months as it waits for government guidance on lockdowns. The company posted a 17 per cent drop in Q1 revenues. In energy news, both Brent and WTI bounce back after falling to historic lows this week. U.S. prices have soared by as much as 40 per cent overnight with renewed tensions with Iran and optimism that production cuts will help ease oversupply bolstering the uptick.