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Equities

Market Chatter: EU Reportedly Weighs Methane Fine Suspension Amid Energy Security Concerns

The European Commission is said to be evaluating a plan to suspend methane emission penalties during periods of energy supply instability, such as the disruptions in the Middle East, London's Financial Times reported Wednesday.The commission is scheduled to enforce new rules on monitoring, reporting and verifying methane leaks in January 2027. However, a new draft guidance seen by the news outlet stated that applying the fines amid an energy crisis could "worsen the security of supply situation, endangering continuity."Under the original regulation, maximum penalties are up to 20% of annual revenue, but the new proposal suggests the fines could be shelved indefinitely and only be reinstated if "the risk to the security of supply is no longer present," the Financial Times added.The European Commission did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Slumping Oil Prices, Persian Gulf Outlook Buoy European Bourses Midday

European bourses rallied midday Wednesday amid slumping crude prices and media reports that Tehran and Washington are preparing a memorandum on nuclear talks that might lead to a resolution of Persian Gulf hostilities.Bank, property and tech stocks led gains on continental trading floors, while oil shares lagged.The pan-continental Stoxx Europe 600 Index was up 2.5% mid-session.Front-month North Sea Brent crude-oil futures were down nearly 11% at $97.89 a barrel.Investors also eyed Wall Street futures flashing green amid solidly higher closes overnight on Asian exchanges, with Seoul's KOSPI index rising 6.5% to shatter the 7,000-milestone on strength in tech issues, including a 14.4% rise in Samsung Electronics shares.In economic news, eurozone producer prices in March rose by 3.4% month over month, Eurostat reported. Year over year, the eurozone producer prices in March were up 2.1%.The Stoxx Europe 600 Technology Index was up 3.1%, and the Stoxx 600 Banks Index rose 4.8%.The Stoxx Europe 600 Oil and Gas Index eased 4.1%, while the Stoxx 600 Europe Food and Beverage Index edged 1.6% higher.The REITE, a European REIT index, rose 3%.On the national market indexes, Germany's DAX was up 2.9%, and the FTSE 100 in London advanced 2.6%. The CAC 40 in Paris was up 3.1%, and Spain's IBEX 35 lifted 2.8%.Yields on benchmark 10-year German bonds were lower, near 2.98%.The Euro Stoxx 50 volatility index was down 9.2% at 21.30, but still indicated above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International

Eurozone's Monthly Producer Prices Up 3.4% in March

The euro area's industrial producer prices climbed 3.4% month over month in March, following a revised 0.6% drop in February, according to Eurostat data published Wednesday.Analysts expected a 3.3% increase for the month.On a yearly basis, producer prices rose 2.1%, against the 3% fall earlier and the consensus of a 1.8% increase.

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International

Italian Monthly Retail Sales Up 0.8% in March

Italy's seasonally adjusted retail sales ticked up 0.8% in March, after a revised 0.1% decrease in February, according to data from statistics agency Istat published Wednesday.Analysts expected a 0.4% drop for the month.On a yearly basis, retail sales were 3.7% higher, against the 1.6% rise earlier.

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International

Final PMI: French Private Sector Falls Deeper into Contraction Zone in April

France's private sector business activity declined at the fastest pace in 14 months as the service economy contracted while factory output and new orders increased, final data from S&P Global confirmed Tuesday.The S&P Global France Composite PMI Output Index dropped to 47.6 in April from 48.8 in March, in line with the flash figure.Also consistent with the preliminary estimate, the services PMI decreased to 46.5, its lowest reading since February 2025, from 48.8 earlier as new orders fell at the quickest rate since November 2023.

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International

Eurozone Final PMI Hits 17-month Low in April Amid Middle East War

The euro area's private sector fell into contraction in April amid a decline in business activity as the war in the Middle East continues, according to final data from S&P Global published Wednesday.The seasonally adjusted S&P Global Eurozone Composite PMI Output Index fell to a 17-month low of 48.8 in April, compared with the previous month's 50.7 and the flash estimate of 48.6. The final reading marks the first time the index stood below the neutral 50 threshold in almost one-and-a-half years.Meanwhile, the services PMI came in at 47.6, against the prior month's 50.2 and the initial reading of 47.4.

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International

Final PMI: German Private Sector Returns to Negative Territory in April

Germany's private sector output contracted for the first time in nearly a year, as the impact of the Middle East conflict resulted in a slump in services activity and the sharpest drop in new orders since May 2025.The final Germany Composite PMI Output Index edged down to 48.4 in April 2026 from 51.9 a month ago, S&P Global said Wednesday. The final reading was above the flash estimate of 48.3.For the service sector, the final PMI clocked in at 46.9, aligning with the initial forecast and against the previous month's 50.9. The reading marks the first contraction since August 2025.

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International

Italian Private Sector Returns to Growth in April

Italy's private sector returned to expansion territory in April, with the service sector's renewed new business intake mitigating the impact of a decline in manufacturing orders.The Italy Composite PMI Output Index stood at 50.5 in April, up from 49.2 in March, S&P Global said Wednesday.On the services side, the PMI was 49.8, compared with the previous 48.8 and expected 47.9, according to Investing.com data.

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International

PMI: Spain's Private Sector Slips into Negative Territory in April

Spain's private sector activity contracted in April for the first time in nearly 2.5 years, dragged by the services economy while manufacturing output expanded at a solid rate, S&P Global said Wednesday.The S&P Global Spain Composite PMI fell to 48.7 from 52.4 in March, below the neutral 50-point mark.For the service sector, the PMI came in at 47.9, against the previous 53.3 and the consensus estimate of 52. The reading marked the first contraction since August 2023 and was the lowest since the start of 2022, as the war in the Middle East impacted demand and new business.

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International

Ifo: Sentiment in German Chemical Industry Deteriorates to Three-year Low in April

Morale across Germany's chemical industry weakened in April as businesses consider the "slight" rebound in the current situation due to the Iran conflict-related supply chain disruptions unsustainable amid rising costs and material shortages.The business climate index dropped to -29 points, the lowest level in almost three years, from -25.1 points in March, the ifo Institute said Wednesday. The indicator for the current business situation improved to -27.1 points from -31.2 points as demand for local products increased.At the same time, price expectations plunged to -30.9 points from -18.6 points amid material shortages and plans to lower production in the coming months.

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International

French Monthly Industrial Production Rises 1% in March

France's industrial production was up 1% month over month in March, following a revised 0.9% decrease in February, statistics agency Insee said Wednesday.Analysts expected a 0.5% gain for the month.On a yearly basis, the index was up 0.9%.

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International

Corporate Earnings, Easing Oil Prices Lift European Bourses Midday

European bourses tracked moderately higher midday Tuesday as oil prices eased and as the continental earnings season continued to pour in.Tech and energy stocks led gains on continental trading floors.UniCredit shares rose 5.6% mid-session after the company reported strong Q1 profits.Front-month North Sea Brent crude-oil futures were down 1% at $113.28 a barrel.Investors also eyed Wall Street futures in the green amid mixed closes overnight on Asian exchanges.In economic news, the European Union and Japan agreed to expand cooperation across data, digital identity, AI, quantum, infrastructure, standardization, and online platform issues, the EU-Japan Digital Partnership Council reported.The pan-continental Stoxx Europe 600 Index was up 0.5% mid-session.The Stoxx Europe 600 Technology Index was up 1.6%, and the Stoxx 600 Banks Index gained 0.1%.The Stoxx Europe 600 Oil and Gas Index rose 0.7%, while the Stoxx 600 Europe Food and Beverage Index edged 0.6% higher.The REITE, a European REIT index, gained 0.2%.On the national market indexes, Germany's DAX was up 1.3%, but the FTSE 100 in London lost 1.3%. The CAC 40 in Paris was up 0.6%, and Spain's IBEX 35 advanced 1.5%.Yields on benchmark 10-year German bonds were higher, near 3.1%.The Euro Stoxx 50 volatility index was down 3.3% at 24.08, but still indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International

Spanish Unemployment Numbers Decrease in April

The number of individuals registered as unemployed in Spain fell by 62,668 in April, after a decrease of 22,934 in March, according to government data published Tuesday.Analysts expected a decrease of 18,600 in unemployment levels for the month.

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Equities

Market Chatter: EU Eyes More Free Carbon Permits in Planned Methodology Adjustment

The European Commission is considering increasing the number of free carbon permits available to polluting companies by adjusting the benchmarks used to calculate the size of such allocations.Under the proposal, the benchmarks will now also take into account indirect emissions instead of just direct emissions, Bloomberg News reported Monday, citing a document shared with EU member states on April 30.The updated benchmarks are planned to undergo public consultation from early May until the start of June before being up for approval by the EU's Climate Change Committee. The free carbon permits will then be allocated for the 2016 to 2030 period.The European Commission did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Persian Gulf, Oil Outlooks Damp European Bourses Midday

European bourses tracked moderately lower midday Monday and oil prices again edged higher after unverified reports from Iranian news services claimed two missiles struck a US warship in the Strait of Hormuz.Petroleum stocks led gains on continental trading floors while bank, food and property shares lagged.Front-month North Sea Brent crude-oil futures were up 3.5%, at $111.91 a barrel in midday trades.Investors also eyed muted Wall Street futures amid higher closes overnight on Asian exchanges, led by a 4.6% gain on Taiwan's TWSE Index, while Seoul's KOSPI Index rose 5.1%.In economic news, the Eurozone manufacturing purchasing managers index logged at 52.2 in April, up from 51.6 in March, surpassing the 50-mark that separates growth from contraction, S&P Global reported.The pan-continental Stoxx Europe 600 Index was off 0.5% mid-session.The Stoxx Europe 600 Technology Index was down 0.2%, and the Stoxx 600 Banks Index lost 1.2%.The Stoxx Europe 600 Oil and Gas Index gained 0.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, fell 0.7%.On the national market indexes, Germany's DAX was steady, and the FTSE 100 in London lost 0.1%. The CAC 40 in Paris was down 1%, and Spain's IBEX 35 eased 1.5%.Yields on benchmark 10-year German bonds were higher, near 3.07%.The Euro Stoxx 50 volatility index was up 4.8% at 23.71, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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US Markets

Eurozone Manufacturing PMI Hits 47-month High in April as Iran War Triggers Stockpiling

The euro area's manufacturing sector remained in expansion territory in April, bolstered by higher output levels and new orders as the ongoing crisis in the Middle East led to stockpiling.The S&P Global Eurozone Manufacturing PMI reached a 47-month high of 52.2 in April, matching the flash estimate and rising from 51.6 in the previous month, according to final data published Monday.Euro area factories logged an increase in production volumes, marking the strongest level of growth since August 2025. This was supported by growth in new orders, a further improvement in demand conditions, and higher sales on the back of front-loaded purchasing. Overseas demand for new orders also increased for the first month in just over four years."Although the PMI has risen to its highest for nearly four years, the survey is more a cause for alarm than celebration. Production and orders books are being buoyed by the building of safety stocks as a result of widespread concerns over supply shortages and rising prices emanating from the war in the Middle East," said S&P Global Market Intelligence Chief Business Economist Chris Williamson.Business optimism about output growth over the next 12 months weakened further, falling to its lowest level since November 2024."Manufacturers' optimism about the year ahead has sunk to its gloomiest for nearly one-and-a-half years, the war having shattered the growing confidence that had been building earlier in the year," Williamson noted. "Producers are concerned not only that the war will dampen demand, building on existing headwinds such as US tariffs and the Ukraine war, but also that war-related supply shortages will curb production in the months ahead."All eight eurozone countries covered by the survey reported growth in their manufacturing sectors, marking the first time all of their PMI readings stood above the neutral 50 threshold since June 2022. Ireland posted the strongest growth, while Germany, France, Italy, and Spain saw "modest" rates of increase.

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International

Eurozone Final Manufacturing PMI Hits 47-month High in April

The euro area's manufacturing sector saw renewed growth in April, supported by an increase in production levels on the back of higher new orders, according to final data from S&P Global published Monday.The S&P Global Eurozone Manufacturing PMI rose to a 47-month high of 52.2 in April, matching the flash estimate, compared with the previous month's 51.6.

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International

Germany's Manufacturing Growth Softens in April, Final PMI Data Shows

German manufacturing sector expansion eased in April as growth in both output and new orders was offset by weaker morale due to the Middle East conflict, S&P Global said Monday.The final headline S&P Global Germany manufacturing PMI slipped to 51.4, from the 46-month high of 52.2 in March. The flash estimate for April stood at 51.2.

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International

Italian Manufacturing PMI Hits Four-year High in April

Operating conditions in Italy's manufacturing sector improved the most in April in four years as producers ramped up output even as the Middle East conflict impacted demand, supply chain, and costs, S&P Global said Monday.The S&P Global Italy manufacturing PMI rose to a four-year high of 52.1 in April from 51.3 in March, against the consensus estimate of 51.9.

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International

Final PMI: French Manufacturing Sector Growth Accelerates in April Amid New Orders

France's manufacturing sector activity accelerated in April, as a "strong rise" in new orders fueled higher production levels despite intensifying price pressures, S&P Global data showed Monday.The final France Manufacturing PMI climbed to 52.8 from 50 in March 2026, in line with the flash estimate. Reaching its highest point since May 2022, the reading signals "solid improvement" within the French manufacturing sector.

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