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UK Shares Muted Amid Political Uncertainty; Bunzl Tops FTSE 100

UK equities closed muted on Tuesday, with the FTSE 100 0.09% in the red, as investors weighed political uncertainty following Prime Minister Keir Starmer's resignation and the potential policies of likely successor Andy Burnham."Given the UK's poor fiscal position, perceptions that Burnham might pursue looser fiscal policy, and fading short-end pressures, we expect the yield curve to steepen in the next few months," Oxford Economics said, adding that it does not currently anticipate major changes to its baseline economic forecast.In the macro corner, Britain's private sector output remained in the contraction zone in June, mainly driven by sustained weakness in the services sector amid a decline in new business volumes. The S&P Global Flash UK PMI Composite Output Index hit a 14-month low of 49.4 in June, compared with 49.7 in the previous month and the expected 50.6."A disappointing June 'flash' PMI indicates that the economy contracted for a second successive month, albeit at only a 0.1% rate and merely flat-lining over the second quarter as a whole," S&P Global Chief Business Economist Chris Williamson said.Separately, total new orders in the UK manufacturing sector declined to -45% in June 2026 from -41% in the previous month, with order books now at their weakest since 2020, according to the Confederation of British Industry's industrial trends survey. Analysts expected -35%.Among individual stocks, Bunzl (BNZL.L) rose 5.60% to lead the FTSE 100 after the distribution and outsourcing group updated its first-half revenue outlook, citing encouraging volume growth. The company now expects revenue to increase 4% at constant exchange rates in the six months ending June 30, compared with its previous guidance of moderate growth.Information analytics group Relx (REL.L) gained 0.86% ahead of its interim results on July 23. "Recent meetings with REL management underpinned our positive view on strategic positioning and trading," Deutsche Bank Research said. "For 1H26E, we forecast good +7% LFL revenue growth... RELX looks well positioned to leverage its high-quality proprietary content and big model playbook, sitting on well invested big data infrastructure that LLMs/open market models would fail access or replicate."

FTSE 100$BNZL.L$REL.L

Asia Markets18m ago

Swiss Market Index Closes Higher; Avolta to Enter Japan's Travel Retail Market

The Swiss Market Index closed 0.45% in the green on Tuesday as investors took stock of the latest private sector and economic data prints at home and abroad.Switzerland's current account surplus climbed to 15.54 billion francs in the first quarter from the revised 2.99 billion francs in the previous three-month period, according to data from the Swiss National Bank (SNBN.SW).Zooming out to the euro area, the S&P Global Flash Eurozone Composite PMI Output Index rose to a three-month high of 49.5 in June from 48.5 in May. The seasonally adjusted provisional reading, however, remains below the neutral 50 threshold."The combination of sluggish growth and fading inflation concerns marks a dovish reading for the [European Central Bank]," ING said. "Both manufacturing and services experienced a slower pace of increase in their input costs and also increased their own prices less quickly than in May. And with energy prices now substantially lower thanks to the US-Iran deal, it could well be that this trend continues in the months ahead (if the deal holds, of course)."On the corporate front, Avolta (AVOL.SW) agreed to purchase luxury travel retailer DFS' operations in Okinawa, marking the Swiss company's entry into Japan's travel retail market. The acquisition is expected to be completed in the third quarter. Avolta's shares were up 0.87% at the end of the trading session.BofA Global Research lowered its price objective for Lindt & Sprüngli's (LISN.SW) registered shares to 134,000 francs from 137,000 francs, with the stock's buy rating maintained, on expectations that the chocolate confectionery manufacturer will report a "slow" organic growth of 3.6% in the first half amid "weakness" in Europe. The stock was up 4.40%."By region, we expect the growth to come from NorAm (9% OG in 1H) and RoW (8% OSG), benefitting from higher carryover pricing (came in later in FY25), with manageable volume pressure (helped by easier volume comps). However, we expect Europe OSG to turn negative (-1% OSG with -10% volume/mix), impacted by tough comps and a weak gifting category (Easter), especially in Germany (27% of Europe)," the research firm said in a note. "On profitability, we expect 10.2% EBIT margin, as we expect negative mix (weak Europe & gifting) to be offset by Inventory pricing."

^SSMI$AVOL.SW$LISN.SW$SNBN.SW

Asia Markets24m ago

Blue-chip DAX Index Slips as German Private Sector Further Contracts

German shares ended Tuesday in the red, with the blue-chip DAX index down 0.98% at closing, as the market evaluated the latest flash PMIs alongside updates on the US-Iran peace talks.Business survey data compiled by S&P Global showed that private sector output in Germany contracted for the third consecutive month amid a faster decline in activity due to persistent weakness in underlying demand. The Flash Germany Composite PMI Output Index came in at an 18-month low of 48 in June, down from the previous 48.8 and the market forecast of 49.9.Zooming out, the flash composite PMI for the eurozone hit a three-month high of 49.5 in June, compared with the previous 48.5 and the expected 49.1, as the private sector downturn eased amid a modest rise in manufacturing output and a softer decline in services activity."This still marks sluggish economic activity for the bloc, but the easing of price pressures indicated by the survey is encouraging. The combination of sluggish growth and fading inflation concerns marks a dovish reading for the [European Central Bank]," ING said.On the geopolitical front, the US waived sanctions on Iran until Aug. 21, enabling Tehran to sell oil and related products. The 60-day waiver serves as the initial phase of economic relief promised under the memorandum of understanding between the two nations to secure a final peace deal.In corporate news, RWE (RWE.F) was up 0.07% after the German energy group launched a private placement to finance its purchase of an additional stake in German power grid operator Amprion."RWE announced a c.EUR4bn private placing, with EUR1bn committed, intending to grow its Amprion stake to 55%. Deal looks attractive at 1.07x 2027E RAB, expected to add 15cents to RWE's 2031 adj. EPS. We view the transaction as strategically strong and see market appetite for more equity," Barclays said in a quick-take note.Rheinmetall (RHM.F) secured a mid-three-digit million-euro order to deliver 23 Bergepanzer 3 Büffel armored recovery vehicles to the German armed forces between December 2027 and June 2029. The order is intended to replace the vehicles that Germany previously provided to Ukraine. The German arms maker lost 1.92% at the end of the trading session.

^DAX$RHM.F$RWE.F

Asia Markets32m ago

European Stocks Close Mixed in Tuesday Trading; Eurozone Business Activity Contracts for Third Straight Month

The European stock markets closed mixed in Tuesday trading as the Stoxx Europe declined 0.5%, Germany's DAX dropped 0.7%, the FTSE 100 gained 0.2%, France's CAC fell 0.3%, and the Swiss Market Index rose 0.4%.Eurozone business activity remained in contraction territory for the third straight month as the seasonally adjusted S&P Global Flash Eurozone Composite PMI Output Index was 49.5 in June, up from 48.5 in May but remained below the 50.0 no-change mark."The eurozone economy is showing enough resilience to just about stay out of recession," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement. "The flash PMI registered only a slight drop in business activity in June."Britain is considering rules that would require social media platforms, including Meta's Facebook, Alphabet's YouTube, and TikTok, to make content from trusted news providers more visible in users' feeds and search results, Reuters reported Sunday.The government said increasing the visibility of regulated news organizations such as the BBC, ITV, and Channel 4 could help combat online misinformation, according to Reuters.And in corporate news, BHP and labor unions have yet to strike an agreement over wages and working conditions, but industrial action is not expected until their next bargaining meeting on July 7, Nikkei Asia reported Tuesday.The Electrical Trades Union, the Australian Manufacturing Workers' Union, and the Western Mine Workers Alliance held talks with the company on Tuesday, according to the report.BHP and the unions did not immediately respond to' requests for comment.Shares of the mining company fell close to 4% in London.UBS and Nethermind have completed two joint proofs of concept showing the public Ethereum network can satisfy regulated financial institutions' operational and compliance needs, the companies said Tuesday.The tests demonstrated that banks could run its own compliance controls through their existing infrastructure on top of Ethereum without altering how the network itself operates, they said.Shares of the Swiss bank dropped close to 1% in Zurich.Barclays is exploring a return to the cash equities sector in Japan, roughly ten years after departing the market, Bloomberg News reported Tuesday, citing people familiar with the matter.The talks are in their initial phases, and a definitive conclusion has not been reached, the news outlet quoted the people as saying.Barclays did not immediately respond to' request for comment.Shares of the British lender were off 0.4% in London.BP, Marathon Petroleum, and Walmart were sued, among others, by California drivers for allegedly using artificial intelligence to inflate fuel prices, Reuters reported Tuesday, citing a proposed class action lawsuit.The lawsuit claims the gas station operators violated state antitrust and algorithmic price-fixing laws by using a software tool from Kalibrate to coordinate the higher pricing, Reuters said.BP, Marathon Petroleum, Walmart, and Kalibrate did not immediately respond to' requests for comment.Shares of the British oil and gas major were 0.2% lower in London.

Asia Markets1h ago

European Equities Traded in the US as American Depositary Receipts Fall Sharply in Tuesday Trading

European equities traded in the US as American depositary receipts were tracking sharply lower late Tuesday morning, falling 1.08% to 1,887.13 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company DBV Technologies (DBVT) and furniture manufacturer Natuzzi (NTZ), which climbed 5 .6% and 4.4% respectively. They were followed by software firm SAP (SAP) and semiconductor company Sequans Communications (SQNS), which advanced 3% and 1.7% respectively.The decliners from continental Europe were led by telecommunications companies Nokia (NOK) and Ericsson (ERIC), which dropped 4.3% and 1.4% respectively. They were followed by lenders Banco Santander (SAN) and ING Group (ING), which lost 1.3% each.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and biotech firm Autolus Therapeutics (AUTL), which rose 5% and 4.7% respectively. They were followed by alcoholic beverage company Diageo (DEO) and tobacco company British American Tobacco (BTI), which increased 3.1% and 2.8% respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which fell 40% and 7.3% respectively. They were followed by mining company BHP Group (BHP) and oil and gas company BP (BP), which dropped 3.1% and 1.3% respectively.

$AKTX$AUTK$BDRX$BHP$BP$BTI$DBVT$DEO$ERIC$ING$NOK$NTZ$SAN$SAP$SQNS$TRIB

Asia Markets1h ago

Asian Equities Traded in the US as American Depositary Receipts Fall in Tuesday Trading

Asian equities traded in the US as American depositary receipts fell Tuesday morning, tumbling 3.1% to 2,816.27 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by mobile app developer Cheetah Mobile (CMCM) and pharmaceutical company Takeda Pharmaceutical (TAK), which rose 2% each. They were followed by travel company Tuniu (TOUR), which was up 0.1%.The decliners from North Asia were led by fintech firm Jiayin Group (JFIN) and semiconductor company ASE Technology (ASX), which fell 29.9% and 7.6% respectively. They were followed by video display maker LG Display (LPL) and semiconductor company Silicon Motion Technology (SIMO), which shed 6.9% and 6.4% respectively.From South Asia, the gainers were led by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which increased 3.1% and 1.5% respectively. They were followed by IT firm Infosys (INFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which advanced 1% each.The decliners from South Asia were lenders ICICI Bank (IBN) and HDFC Bank (HDB), which were down 1% and 0.5% respectively.

$ASX$CAN$CMCM$IBN$INFY$JFIN$LPL$RDY$SIFY$SIMO$TAK$TDTH$TLK$TOUR$WIT

Asia Markets3h ago

Update: US Equity Futures Fall Pre-Bell Amid Broad Tech Sell-Off, US-Iran Peace Negotiations

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were lower pre-bell Tuesday amid a sell-off in tech stocks and ongoing peace negotiations between the U.S. and Iran.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 1.3%, and Nasdaq futures were 2.8% lower.Micron Technology (MU) stock was down 8.3% in premarket activity, joining a broader sell-off in the technology sector.Technical discussions between the US and Iran in Switzerland have been completed, with negotiating groups to be established to focus on nuclear issues and sanctions, AFP reported, citing Iranian state media.Iran's chief negotiator, Mohammad Bagher Ghalibaf, told state media that the country intends to retain control of the Strait of Hormuz after talks with the US. At least 35 vessels crossed the waterway on Monday, marking the highest level since the war in the Middle East began, AFP reported, citing data from maritime tracking firm Kpler.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.8% at $76.91 per barrel and US West Texas Intermediate crude 0.7% lower at $73.31 per barrel.The June S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 52.1, up from 51.5 previously, according to estimates compiled by Bloomberg. The Richmond Fed manufacturing index for June is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed 3.6% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 1.4% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, shares of Marvell Technology (MRVL), Western Digital (WDC), and Seagate Technology (STX) were all down as part of a wider decline in technology stocks. Marvell shares dropped 8.8%, Western Digital stock was down 7.6%, and Seagate shares fell 7.7%.On the winning side, Netflix (NFLX) stock was up 0.9% after the company and Omnicom (OMC) said they agreed on a collaboration that combines Omnicom Media's Acxiom audience intelligence with Netflix's artificial intelligence-powered advertising technology. IBM (IBM) shares rose 4.2% after the company said it joined the OpenAI Daybreak Cyber Partner Program and launched a new application-security service that uses OpenAI's models to help enterprises identify and validate software vulnerabilities. Accenture (ACN) stock was up 2% after the company said it is raising its fiscal 2026 share repurchase plan by $2 billion to a total of $7.5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$IBM$MRVL$MU$NFLX$OMC$STX$WDC

Asia Markets3h ago

Saudi Shares Close Lower; US Temporarily Waives Sanctions for Iranian Crude Sales

The Tadawul All Share Index on Tuesday closed 0.35% in the red as investors tuned into the latest updates on the US-Iran conflict.Reuters reported that the US waived its sanctions on Iran for 60 days, while a general license deal will allow the Middle Eastern nation to sell its crude oil, petrochemical and petroleum products until Aug. 21."There were fresh signs of progress in the negotiations, with Vice President JD Vance saying that the weekend talks were 'very, very good.' That follows comments from the Iranian side, who had previously said in the small hours of Monday that there'd been major progress to end the war in Lebanon," Deutsche Bank Research said, while noting the sanctions waiver deal. "So that backdrop saw oil prices come down, with Brent crude (-3.31%) closing at a 3-month low of $77.90/bbl, whilst WTI (-2.32%) also fell to $74.82/bbl."In other news, and also dampening sentiment, are the back-and-forth strikes between Russia and Ukraine. The attacks resulted in injuries and casualties, media reports said.Back at home, Consolidated Grunenfelder Saady Holding (SASE:4147) shares dropped 9.94% at closing as it logged a 29.62% year-over-year decline in attributable net profit and a 5.39% annual decrease in revenue for the 12 months ended March 31.Meanwhile, Future Vision for Health Training (SASE:9632) and Dr. Soliman Abdel Kader Fakeeh Hospital Co. (SASE:4017), d/b/a Fakeeh Care, entered a framework deal to implement programs, educational events and conferences, among others. The stocks closed 1.20% and 1.98% lower, respectively.

^TASISASE:4017SASE:4147SASE:9632

Asia Markets4h ago

Abu Dhabi, Dubai Stocks Blink Red; Oil Prices Fall as US Eases Iran Sanctions

Markets in the United Arab Emirates ended lower on Tuesday as the FTSE ADX General Index shed 0.11%, while the DFM General Index lost 1.269%.Oil prices dropped after the US issued a 60-day sanctions waiver to allow the export of Iranian oil. The lifting of sanctions is one of Iran's demands in the memorandum of understanding signed with the US to reach a final deal."Looking ahead, the key uncertainty remains how quickly oil flows through the Strait of Hormuz can normalise. Obviously, this depends on how quickly upstream oil production in the Persian Gulf can return," ING said. "Clearly, the evolution of US-Iran talks will be crucial to how quickly energy flows resume. As we've seen in recent days, the ceasefire remains fragile. There's a very real risk of a further flare-up in tensions."As of 3:27 pm UAE time, the Brent crude oil futures stood at nearly $77.906 per barrel, up 0.01% from the previous day.Zooming in at home, Abu Dhabi's Department of Health and French biopharmaceutical company Sanofi signed a memorandum of understanding to evaluate the development of a vaccine innovation center in Abu Dhabi in a bid to bolster vaccine discovery capabilities, messenger ribonucleic acid research, and clinical development and manufacturing.Over to corporates, Burjeel Holdings (ADX:BURJEEL) launched its $1.50 billion trust certificate issuance program on the London stock exchange through its special purpose vehicle Burjeel Sukuk. Shares of the Emirati medical group closed the session 0.86% lower.Meanwhile, in Dubai, shares of International Financial Advisors (DFM:IFA) ended 0.17% in the green as it canceled its ordinary general assembly scheduled on June 29 due to the withdrawal of certain candidates and decided to restart a one-month nomination process.

^DFMGI^FADGIADX:BURJEELDFM:IFA

Asia Markets10h ago

New Zealand Shares Flat; Gentrack Group Says UBS Group Lifts Stake

New Zealand shares closed flat with a negative bias on Tuesday as Asian markets followed losses from Wall Street's Monday close.The S&P/NZX 50 Index was little changed to close at 13,435.77.On Monday, the Nasdaq Composite fell 1.3%, the S&P 500 lost 0.4%, while the Dow Jones managed to add 0.3%.The US waived sanctions on Iran for 60 days from Monday following the first talks under a fledgling peace agreement, while officials reported a continued lull in fighting in Lebanon under the deal aimed at ending hostilities across the region, Reuters reported Monday.In domestic news, New Zealand employment confidence fell 12.5 points in the June quarter to 83.1 from 95.6 in the previous quarter, the lowest reading for the survey since it started in September 2004, according to the Westpac-McDermott Miller Employment Confidence index.In corporate news, Gentrack Group (ASX:GTK, NZE:GTK) received notice that UBS Group and its affiliated entities increased their holdings in the company to 7.055% from 5.846%.Westpac Banking's (NZE:WBC, ASX:WBC) Westpac NZ said Tuesday it has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand to provide loans secured by Zespri shares.

^NZ50ASX:GTKASX:WBCNZE:GTKNZE:WBC

Asia Markets22h ago

Update: US Equity Indexes Mixed Amid Steep Decline in Communication Services, Surging Treasury Yields

(Updates with index/price moves and political/company news from the first paragraph.)US equity indexes traded mixed amid steep declines in communication services and consumer discretionary and rising government bond yields after midday Monday.The Nasdaq Composite dropped 1.2% to 26,194.83, with the S&P 500 down 0.4% to 7,472, while the Dow Jones Industrial Average rose 0.3% to 51,696.7.All sectors, except communication services, consumer discretionary, consumer staples and technology, gained. Real estate and healthcare led the gainers. Communication services sank 4.4%, and consumer discretionary was down 2%.Alphabet (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped nearly 6%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 6%, among the worst performers on the Nasdaq and the S&P 500.In geopolitical news, US Vice President JD Vance said Monday that Iran agreed to allow International Atomic Energy Agency inspectors into the country, according to media reports. "That is a major milestone for the American people, and the first step in permanently denuclearizing or permanently ending a nuclear weapons program in Iran, and that's exactly what we wanted to do," Vance was cited as saying.Iran's Foreign Minister Araghchi and the country's top negotiator Mohammad Bagher Ghalibaf are traveling to Oman to discuss the management of the Strait of Hormuz, Al Jazeera reported on Monday. The two are set to discuss consolidating Iranian arrangements for managing the strait and enhancing bilateral coordination, Ghalibaf said on Telegram, according to the news report.Front-month global benchmark North Sea Brent slumped 3.4% to $77.87 per barrel. The US West Texas Intermediate dropped 3% to $73.66 per barrel.Most US Treasury yields jumped, with the 10-year up six basis points to 4.52%. The two-year rate jumped 4.9 basis points to 4.23%. Even as oil prices have been declining since an interim peace deal was signed between the US and Iran, the market is still pricing two interest rate increases -- 25 basis points each -- by the end of this year, according to the CME FedWatch tool, following the hawkish lean seen in the June monetary policy announcement last week.In precious metals, gold futures fell 0.9% to $4,209.1, while silver futures declined 1% to $65.68.In company news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by technology giant Microsoft (MSFT), as part of a 20-year power purchase deal. Shares of Microsoft dropped 2.5%, among the steepest decliners on the Dow.AbbVie (ABBV) agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal of about $10.9 billion, as the drugmaker looks to strengthen its immunology portfolio and accelerate its clinical presence in the respiratory segment. Shares of AbbVie advanced nearly 7%, one of the top gainers on the S&P 500.CRH (CRH) said it agreed to acquire building materials rival Arcosa (ACA) in an all-cash transaction valued at about $8.5 billion, expanding its infrastructure products business and strengthening its position in North America.

Dow JonesNasdaq CompositeS&P 500$ABBV$ACA$AMZN$APGE$CRH$CVX$GOOG$GOOGL$MSFT$NFLX

Asia Markets23h ago

Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM rose and IVV edged lower. Actively traded Invesco QQQ Trust (QQQ) shed 0.5%.US equity indexes traded mixed amid steep declines in communication services and consumer discretionary in Monday's midday trading.EnergyIShares US Energy ETF (IYE) rose 1.3%, and the State Street Energy Select Sector SPDR (XLE) added 1.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose fractionally; iShares US Technology ETF (IYW) fell 0.4%, and iShares Expanded Tech Sector ETF (IGM) was down 0.7%.The State Street SPDR S&P Semiconductor (XSD) advanced 1.7%, and iShares Semiconductor (SOXX) gained 1.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2%.CommoditiesCrude oil fell 2.9%, and the United States Oil Fund (USO) slipped 2.7%. Natural gas climbed 1.6%, and the United States Natural Gas Fund (UNG) was up 1.6%.Gold on Comex eased 1%, and the State Street SPDR Gold Shares (GLD) fell 0.8%. Silver was down 1%, and iShares Silver Trust (SLV) shed 0.5%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.1%. The Vanguard Consumer Staples ETF (VDC) added 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 1.2%. VanEck Retail ETF (RTH) fell 0.8%, and the State Street SPDR S&P Retail (XRT) was down 0.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.2%, iShares US Healthcare (IYH) added 1%, and Vanguard Health Care ETF (VHT) was up 1.2%. IShares Biotechnology ETF (IBB) gained 1.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.9%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 2.6%, ProShares Ether ETF (EETH) was up 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 3.8% higher.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets1d ago

Swiss Equities Kick Off Week in Green; Idorsia Shares Up

Swiss equities were in positive territory on Monday's close, with the Swiss Market Index up 0.54%, as investors gear up for a busy week filled with business surveys and economic data releases across key economies.Surveyed economic experts now expect Switzerland's real sports-adjusted gross domestic product to grow 0.9% in 2026, down from the 1% projection in March, according to the latest KOF Consensus Forecast. For 2027, economic growth is still anticipated to stand at 1.5%, while the five-year GDP growth rate estimate remains unchanged at 1.6%.Elsewhere and on the geopolitical front, the US and Iran made "encouraging progress" in their peace deal talks in Switzerland aimed at reaching a final agreement within 60 days, agreeing to establish a committee and a "de-confliction" cell involving Lebanon, mediators Pakistan and Qatar said in a joint statement."This marks a notable shift from Saturday's confusion, when Iran suggested the strait was now closed again after Israeli attacks in Lebanon, and briefly stepped back from talks following renewed threats from President Trump, who reiterated that the US would strike again if Iranian-backed proxies in Lebanon continue attacks on Israel," Deutsche Bank Research analysts said. "Despite that rhetoric, oil flows through Hormuz have continued and even picked up over the weekend, helping to calm markets, with Brent reversing earlier gains this morning before details of the talks came through."In the UK, Keir Starmer resigned as prime minister and leader of the Labour Party. He will remain in his post until a new party leader is selected, which is expected to take place before parliament returns in September.Over to corporates, Lonza (LONN.SW) signed a new licensing agreement with US-based biotechnology company InduPro to advance the development of innovative antibody-drug conjugate therapies. Under the deal, InduPro will gain a nonexclusive global license to the Swiss pharmaceutical manufacturer's proprietary GlycoConnect, HydraSpace and linker-payload technologies. Lonza closed the trading session 0.34% higher.Deutsche Bank Research raised its price target for Idorsia (IDIA.SW) to 4.50 francs from 4 francs, with a reaffirmed hold rating on the stock, ahead of the biopharmaceutical company's first-half results. Idorsia shares were up 1.67% at closing."Following the recent DD move - out of line with both the Swiss market and European healthcare -we take the opportunity to outline our view on (1) potential key drivers of the move and (2) revisit the investment thesis ahead of Q2 results (30th July), noting the underlying fundamental story remains unchanged and we reiterate our HOLD recommendation," the research firm said. "In the absence of fundamental newsflow across the three key catalysts highlighted in our post-Q1, we view the recent reaction as largely technical rather than fundamental driven."

^SSMI$IDIA.SW$LONN.SW

Asia Markets1d ago

UK Shares Close Higher Amid Prime Minister's Resignation; Babcock Falls

London's FTSE 100 closed 0.72% in the green on Monday as markets prepare for a busy week of economic and private sector data releases while assessing the latest geopolitical developments at home and abroad.Keir Starmer will resign as prime minister of the UK and as leader of the Labour Party. He will remain in office until the party chooses a new leader, which is expected to take place by the time parliament returns in September. Following the announcement, former Greater Manchester mayor Andy Burnham confirmed that he will seek to replace Starmer as Labour leader and prime minister."Our short-term fair value model shows no overvaluation in EUR/GBP, suggesting no political risk premium. That is good and bad news for GBP. It signals that markets are relaxed about this government change, but that means a greater downside for the pound should fiscal concerns resurface," ING analysts said.Meanwhile, the US and Iran concluded the first high-level peace deal talks in Switzerland with "encouraging progress," mediators Pakistan and Qatar said in a joint statement.Separately, a survey from S&P Global showed UK consumer sentiment remained subdued in June 2026, with the Consumer Sentiment Index edging up to 42.2 from 42.1 in the previous month. S&P said the second quarter of 2026 was the weakest for household confidence since the third quarter of 2023, reflecting softer views on the labor market and household spending.In corporate news, Babcock International Group (BAB.L) was the blue-chip index's top faller, losing 5.89% at closing, after booking a year-over-year drop in fiscal 2026 statutory profit after tax to 210.7 million pounds sterling from 248.9 million pounds. The British aerospace and defense company's revenue, on the other hand, rose to 5.18 billion pounds from 4.83 billion pounds on the back of "strong" growth at its nuclear and aviation segments.Berenberg left its hold rating and 22.80-pound price target for Whitbread (WTB.L) unchanged amid a continued "cautious" outlook on the Premier Inn hotel owner despite a better-than-expected revenue per available room in the UK for its fiscal first quarter. The stock closed the session 3.40% higher."This drives small increases to our estimates. German growth was slightly softer than we expected; however, given that it tends to be an events-driven market, this is unsurprising, and we leave our German estimates unchanged," the research firm said in a note. "Overall, we see no reason to move from our Hold recommendation. The company's back-end-weighted five-year plan limits near-term shareholder returns and an uncertain outlook keeps us firmly on the sidelines."

FTSE 100$BAB.L$WTB.L

Asia Markets1d ago

German Shares Climb as US-Iran Peace Talks Advance

German equities closed Monday's trade in the green, with the blue-chip DAX index gaining 0.66%, as the US and Iran move forward with peace negotiations.The two countries concluded their initial round of mediated talks in Switzerland, facilitated by Pakistan and Qatar, agreeing to a 60-day roadmap aimed at achieving a final deal. The sides also discussed measures such as a direct communication line to protect commercial maritime transit through the Strait of Hormuz and a mechanism to end military operations in Lebanon."This marks a notable shift from Saturday's confusion, when Iran suggested the strait was now closed again after Israeli attacks in Lebanon, and briefly stepped back from talks following renewed threats from President Trump," Deutsche Bank Research said, noting that oil flows through Hormuz continued and even increased over the weekend, helping calm markets.Market watchers are also awaiting key economic updates for the week, including June flash PMIs for Germany and other major European economies due on Tuesday, followed by Germany's ifo business climate survey on Wednesday and the latest GfK consumer confidence data on Thursday.On the corporate front, Infineon Technologies (IFX.F) climbed 4.84% as BofA Global Research maintained its buy rating and price objective of 108 euros, saying the July opening of the fabrication plant in Dresden, Germany, secures the infrastructure required for the artificial intelligence-related power demand."The fab marks the largest single investment in Infineon's history, following the company's 2022 announcement of a EUR5bn investment into the site's power semiconductor and analog/mixed-signal capacity. Its opening comes at a critical point, as Infineon remains capacity constrained in AI power. Dresden, alongside incremental capacity from Villach, Kulim and redeployed IGBT comfortably underpins our EUR3.9/EUR5.9bn DC/AI revenue forecast in 27/28E, driving mix to 20%/25% of group sales (vs. 8% in '25)," BofA said.Meanwhile, German infrastructure group Hochtief (HOT.F) joined the blue-chip DAX index today, replacing Porsche Automobil Holding (PAH3.F), d/b/a Porsche SE. The holding company transitioned to the mid-cap MDAX following an index reshuffle announced in early June. Hochtief rose 3.13%, while Porsche SE was down 1.08% on Xetra.

^DAX$HOT.F$IFX.F$PAH3.F

Asia Markets1d ago

European Stocks Close Mostly Higher in Monday Trading; Investors Indicate Optimism Over Middle East Peace Deal

The European stock markets closed mostly higher in Monday trading as investors reacted to claims from both the US and Iran that there has been significant progress toward a peace deal.The Stoxx Europe rose 0.6%, Germany's DAX advanced 0.5%, the FTSE 100 increased 0.7%, France's CAC declined 0.2%, and the Swiss Market Index gained 0.4%.And in corporate news, ASML said it has never shipped its most advanced extreme ultraviolet lithography machines to China after US Commerce Secretary Howard Lutnick raised concerns that one of the systems may have reached the country in violation of US export restrictions, Bloomberg reported Friday, citing a company spokesperson.In a statement sent to, ASML said it has "never shipped an EUV machine to China" and has not supplied the country with "any component, module or equipment specially designed to be used in an EUV machine."Shares of the Dutch semiconductor company increased 1% in Amsterdam.Ryanair said Monday its board concluded an agreement granting Group Chief Executive Michael O'Leary a one-time option to purchase 10 million ordinary shares under an extended contract through April 2032.The executive will have the option to buy 10 million shares at 26.70 euros ($30.60) each if the company's stock price exceeds 42 euros for 28 consecutive days, or if its after-tax profit reaches 4 billion euros, the company said.Shares of the Irish airline rose 2.6% in Dublin.STMicroelectronics said Monday it released a new 3-dimensional light detection and ranging module designed for artificial intelligence applications on small computing devices.The device has a 2.3K zone resolution, on-chip data processing, and a spatial sensing range spanning from 5 centimeters to 9 meters, the company said.Shares of the semiconductor company advanced 2.1% in Paris.ArcelorMittal has teamed up with Amazon Web Services to advance industrial automation in its global operations using cloud, artificial intelligence, and edge technologies, the company said Monday.The collaboration brings Amazon cloud and AI capabilities to ArcelorMittal's steel manufacturing processes to optimize production and improve safety, reliability and energy efficiency, the company said.Shares of ArcelorMittal gained 1.4% in Paris.Alphabet's Google Cloud said Monday that it has expanded its partnership with Nokia to embed Gemini AI models into Nokia's network software to automate telecom operations.The system introduces six AI agents that help detect, diagnose, and resolve network issues faster by processing large data streams and reducing manual troubleshooting, the company said.Shares of Nokia climbed 4.2% in Helsinki.

Asia Markets1d ago

European Equities Traded in the US as American Depositary Receipts Rise in Monday Trading

European equities traded in the US as American depositary receipts started the week higher late Monday morning, advancing 0.61% to 1,903.57 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and telecommunications company Nokia (NOK), which rose 4.5% and 4.2% respectively. They were followed by internet browser company Opera (OPRA) and biopharmaceutical company DBV Technologies (DBVT), which were up 2.8% and 1.8% respectively.The decliners from continental Europe were led by biopharmaceutical company Cellectis (CLLS) and pharmaceutical company Sanofi (SNY), which fell 5% and 2.8% respectively. They were followed by internet advertising firm Criteo (CRTO) and semiconductor company Sequans Communications (SQNS), which were down 2.6% and 2.4% respectively.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Amarin (AMRN), which advanced 5.7% and 4.6% respectively. They were followed by lenders Lloyds Banking Group (LYG) and Barclays (BCS), which increased 4% and 3.8% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company NuCana (NCNA) and mining company BHP Group (BHP), which lost 3.1% and 2% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and medical device maker Smith & Nephew (SNN), which dropped 1.8% and 0.8% respectively.

$AMRN$BCS$BHP$CLLS$CRTO$DBVT$LYG$NCNA$NOK$NVO$OPRA$SLN$SNN$SNY$SQNS$VOD

Asia Markets1d ago

Asian Equities Traded in the US as American Depositary Receipts Edge Up Monday

Asian equities traded in the US as American depositary receipts opened the week slightly higher Monday morning, rising 0.11% to 2,914.33 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by mobile big data platform Aurora Mobile (JG) and semiconductor company Silicon Motion Technology (SIMO), which climbed 11% and 7.4% respectively. They were followed by semiconductor company ASE Technology (ASX) and online game developer Gravity (GRVY), which advanced 6.5% and 5.5% respectively.The decliners from North Asia were led by 17 Education & Technology Group (YQ) and LG Display (LPL), which fell 6% and 5.6% respectively. They were followed by fintech firm J and Friends (JF) and Eason Technology (DXF), which were down 4.6% and 4.4% respectively.From South Asia, the gainers were led by Canaan (CAN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which rose 7.6% and 5.1% respectively. They were followed by IT firm Infosys (INFY) and ICICI Bank (IBN), which were up 4.2% and 1.9% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and IT firm Wipro (WIT), which dropped 11% and 6.5% respectively. They were followed by Telekomunikasi Indonesia (TLK) and tech conglomerate Sea (SE), which lost 3.4% and 1.3% respectively.

$ASX$CAN$DXF$GRVY$IBN$INFY$JF$JG$LPL$RDY$SE$SIMO$TDTH$TLK$WIT$YQ

Asia Markets1d ago

Tadawul Equities End Monday Muted; Saudi Arabia's Industrial Production Rises in 2025

The Tadawul All Share Index closed little changed on Monday at 0.04% in the red as investors assessed the latest economic releases by Saudi Arabia.According to the General Authority of Statistics, the kingdom's industrial production index rose 5.1% year over year in 2025. The growth was attributed to a rise in mining and quarrying, manufacturing activities, among others.Meanwhile, the country's construction cost index also ticked up annually by 2.6% in May from the 2.4% climb in April. The increase was attributed to growth in construction costs in the non-residential and residential sectors.In international news, investors tuned in to the results of Iran and the US' first round of talks in reaching a final peace agreement. The "positive" discussions in Switzerland led to the two parties agreeing to a roadmap for a lasting deal."Encouraging progress in US-Iran talks in Switzerland, mediated by Qatar and Pakistan, has seen both sides agree overnight to a roadmap towards a potential deal within 60 days, alongside the creation of technical working groups, a de conflict mechanism covering Lebanon, and a direct communication line aimed at avoiding incidents and keeping the Strait of Hormuz open," Deutsche Bank Research said in a note.Back at home and on the corporate front, Alshehili Metal Industries Co. (SASE:9624) secured a contract to produce and deliver 377 refrigerated trailers to Almarai Co. (SASE:2280). Shares of Alshehili Metal closed 1.79% higher, while Almarai ticked down 1.30%.

^TASISASE:2280SASE:9624

Asia Markets1d ago

Update: US Equity Futures Slightly Higher Pre-Bell As US-Iran Talks Start in Switzerland

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were marginally higher pre-bell Monday as traders considered the latest developments in the initial talks between the US and Iran, which target a more permanent peace deal.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were flat, and Nasdaq futures were 0.3% higher.After a memorandum of agreement was signed last week between US and Iran, US Vice President JD Vance and Iran's parliamentary speaker Mohammad Bagher Qalibaf completed the first round of high-level talks in Switzerland aimed at ending the war in the Middle East. Mediators Pakistan and Qatar said there was "encouraging progress" made in the negotiations, with technical discussions continuing this week.However, shipping stalled in the Strait of Hormuz over the weekend after Iran declared the waterway closed once again due to Israeli strikes in Lebanon, CNBC reported, citing data from maritime intelligence firm Windward. President Donald Trump said in a post on Truth Social that Iran should stop its proxies in Lebanon "from causing trouble." Trump added, "If they don't, we'll hit Iran very hard again, just like we did last week, only harder!!!"FedEx (FDX) and Micron Technology (MU), among others, are scheduled to report quarterly financial results this week.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.5% at $78.06 per barrel and US West Texas Intermediate crude 1.7% lower at $74.56 per barrel.The economic calendar is vacant on Monday.In other world markets, Japan's Nikkei closed 1.6% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 1.8% higher. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Alphabet (GOOG, GOOGL) shares were down 2.1% after Google DeepMind data scientist and Nobel Prize winner John Jumper said he is leaving the company to join Anthropic. SpaceX (SPCX) stock was down 3.8% after a Financial Times report that the company was assigned MSCI's lowest possible ESG rating, triple-C, ahead of its $75 billion initial public offering earlier this month. Robinhood Markets (HOOD) stocks fell 1.3% after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.On the winning side, AbbVie (ABBV) and Apogee Therapeutics (APGE) shares were up 1.1% and 47%, respectively, after the two companies said AbbVie has agreed to acquire Apogee Therapeutics for $135.11 per share in cash for a total equity value of $10.9 billion.

Dow JonesNasdaq CompositeS&P 500$ABBV$APGE$FDX$GOOG$GOOGL$HOOD$MU$SPCX

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Asia Markets22h ago

Update: US Equity Indexes Mixed Amid Steep Decline in Communication Services, Surging Treasury Yields

Dow JonesNasdaq CompositeS&P 500$ABBV$ACA$AMZN$APGE$CRH$CVX$GOOG$GOOGL$MSFT$NFLX