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Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP's profits could not keep stock markets down for long.

Lufthansa has not yet agreed on a 9 billion euro ($9.73 billion) rescue package, company and government sources said on Tuesday, following a report overnight that said an agreement was complete.

Oil prices plunged for a second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to recover even after countries ease restrictions to combat the coronavirus pandemic.

Tesla Inc Chief Executive Elon Musk is on the cusp of a roughly $750 million payday as the electric carmaker's stock recovers from a slump caused by the coronavirus, which led the company to close its factories and furlough workers.

Scandinavian airline SAS said on Tuesday it could reduce about half its workforce as it struggles to survive the coronavirus outbreak.

British companies' profitability dropped to its lowest in more than a decade in the final three months of 2019, when concerns about Brexit and political uncertainty - rather than the coronavirus - were to the fore, official data showed on Tuesday.

Bayer on Tuesday faces its second annual investor reckoning over its handling of a wave of U.S. lawsuits claiming its glyphosate-based weedkillers cause cancer.

Japanese automakers saw a 34% fall in global vehicle sales in March when the coronavirus outbreak began to spread globally, and face a further tumble in the coming months.

Novartis saw first-quarter sales climb as hospitals and patients stocked up on drugs to avoid being left short during the coronavirus crisis, lifting profits for the Swiss drugmaker.

German airline Lufthansa has no intention of selling its Belgian unit Brussels Airlines, the head of Lufthansa Carsten Spohr assured Belgian Prime Minister Sophie Wilmès in a letter seen by the Belgian VRT public broadcaster.

The Spanish government is considering granting soft loans to flagship airline Iberia, a unit of London-listed International Consolidated Airlines Group , newspaper El Pais reported on Tuesday.

BP seeks to sharply reduce its spending and costs to be able to generate profit at oil prices below $35 a barrel by next year compared with $56 a barrel last year, CEO Bernard Looney said.

Most Asian shares made gains while U.S. stock futures fell on Tuesday amid choppy trade as a renewed decline in oil prices partially offset optimism about the easing of coronavirus-related restrictions.

French car hire company Europcar said on Tuesday it was still in talks with the government over obtaining further financing aid.

Oil prices slumped again on Tuesday amid concern about dwindling capacity to store crude worldwide, heightened by fears that fuel demand may be slow to pick up once countries ease curbs imposed on business and social life to combat the coronavirus pandemic.

British retailer Marks & Spencer said it was planning for a slow return to shopping and had taken steps to shore up its finances for 18 months, including scrapping next year's dividend, to cope with the impact of the coronavirus crisis

BP's first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.

Diageo , the world's largest spirits maker, launched a $2.5 billion bond offering on Tuesday, weeks after suspending its share buyback programme in response to the coronavirus crisis.

The world's largest wealth manager, UBS , reported a 40% rise in January-March profit on Tuesday, buoyed by ultra rich clients reshuffling portfolios to cope with the coronavirus outbreak and as a revamp helped its core business to its best quarter since 2008.

Scandinavian airline SAS said on Tuesday it would reduce its workforce by up to 5,000 full-time positions, due to the COVID-19 pandemic and its impact on air travel.