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S&P 500, Nasdaq Composite Scale Peaks as Trump Sets Stage for Iran Deal Over Weekend

US equity indexes jumped, with the S&P 500 and the Nasdaq Composite making all-time highs, and crude oil futures sank on Friday amid mounting expectations of an Iran peace deal over the weekend.The Nasdaq Composite advanced 1.5% to 24,468.48, with the S&P 500 up 1.2% to 7,126.06, and the Dow Jones Industrial Average higher by 1.8% to 49,447.43.West Texas Intermediate crude oil futures plunged 11% to $84.68, and Brent crude futures plummeted 8.8% to $90.69.Bloomberg reported that President Donald Trump said Iran agreed to suspend its nuclear program indefinitely and will not receive any frozen funds from the US. Axios reported Friday that the US could release $20 billion in frozen Iranian funds in exchange for Iran turning over its stockpile of enriched uranium.Trump said in a phone interview on Friday that a deal to end the war is mostly complete, according to the Bloomberg news report. Talks over a lasting agreement will "probably" be held this weekend, the president was cited as saying. The US-Iran ceasefire ends next week, implying an extension to the truce may not be required.Earlier in the day, Iran announced the reopening of the Strait of Hormuz for the remainder of the ceasefire period."In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Iran's foreign minister, Seyed Abbas Araghchi, said in a post on X. The 10-day truce between Israel and Lebanon came into force on Thursday.Trump also said Friday the US naval blockade will continue until a deal with Iran is "100% complete," CNN reported."The single war variable that has mattered for markets is whether oil continues to flow through the Strait of Hormuz," according to a Stifel Securities research note. "This is why today's announcement that the Strait of Hormuz is 'open to shipping' for the remainder of the ceasefire is significant."Most US Treasury yields dropped, with the 10-year down 6.5 basis points to 4.25% and the two-year slumped 7.8 basis points to 3.7% as falling crude oil prices damped inflation concerns. In precious metals, gold futures advanced 1.3% to $4,868.1 and silver futures jumped 3.2% to $81.24.All sectors except energy and utilities soared intraday. Consumer discretionary, industrials, and technology led the gainers.Airlines and cruise liners were the S&P 500's leaders. Royal Caribbean (RCL), United Airlines (UAL), and Carnival (CCL) led the outperformers, with gains of at least 7% each. Chevron (CVX), down 2.2%, was the Dow's worst performer.In company news, shares of Netflix (NFLX) slid 9.7%, among the worst performers on the S&P 500 and the Nasdaq, after the company released Q2 guidance late Thursday below market consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June.

$^DJI$^IXIC$^SPX$CCL$CVX$NFLX$RCL$UAL

Asia Markets21d ago

US Equity Indexes Rise This Week as Hormuz Chokepoint Reopening Fuels Iran Deal Hopes

US equity indexes rose this week as a time-bound reopening of the Strait of Hormuz followed a truce between Israel and Lebanon, marking a breakthrough in Middle East diplomacy and boosting the probability of an Iran peace deal.* The S&P 500 closed at 7,126.06 on Friday versus 6,816.89 a week ago. The Nasdaq Composite stood at about 24,468.48, compared with 22,902.89 a week earlier, and the Dow Jones Industrial Average ended at 49,447.43, versus 47,916.57 at the end of last week.* Technology, consumer cyclicals, and communication services topped sector charts as geopolitical risk fell and Q1 earnings season began in earnest with financials first to report. Energy was the worst performer as expectations for the Iran deal increased.* President Donald Trump said Thursday that Lebanon and Israel have agreed to a 10-day ceasefire.* "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Iran's foreign minister, Seyed Abbas Araghchi, said in a post on X, formerly Twitter, on Friday.* Trump said Friday the US naval blockade will continue until the Iran deal is "100% complete," CNN reported.* Bloomberg reported Friday that Trump said Iran agreed to suspend its nuclear program indefinitely and will not receive any frozen funds from the US. Trump said in a phone interview that a deal to end the war is mostly complete, according to the report. Talks over a lasting agreement will "probably" be held this weekend, the president was cited as saying. The US-Iran ceasefire ends next week, implying an extension to the truce may not be required.* Morgan Stanley (MS), Citigroup (C), and Bank of America (BAC) were among the biggest gainers in financial services firms with a market capitalization of more than $200 billion, after mega-cap banks kicked off the Q1 earnings season.

$^DJI$^IXIC$^SPX$BAC$C$MS

Asia Markets21d ago

S&P 500, Nasdaq Composite Hit Records as Iran Reopens Hormuz Chokepoint for Ceasefire Period

US equity indexes jumped, with the S&P 500 and the Nasdaq Composite making all-time highs, and crude oil futures sank in midday trading on Friday after Iran reopened the Strait of Hormuz for the remainder of the ceasefire period.The Nasdaq Composite advanced 1.6% to 24,505.1, with the S&P 500 up 1.5% to 7,144.2, and the Dow Jones Industrial Average higher by 2.3% to 49,700.3.West Texas Intermediate crude oil futures plunged 12% to $83.41, and Brent crude futures plummeted 10% to $89.06."In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Iran's foreign minister, Seyed Abbas Araghchi, said in a post on X, formerly Twitter. The 10-day truce between Israel and Lebanon came into force on Thursday.US President Donald Trump said that the US naval blockade will continue until a deal with Iran is "100% complete," CNN reported. He expressed confidence that a deal will come soon, saying talks could happen this weekend. The US-Iran ceasefire ends next week.Meanwhile, the US and Iran are discussing a plan as part of their peace talks that would see the US release $20 billion in frozen Iranian funds in exchange for Iran turning over its stockpile of enriched uranium, Axios reported Friday, citing two US officials and two additional sources briefed on the talks."The single war variable that has mattered for markets is whether oil continues to flow through the Strait of Hormuz," according to a Stifel Securities research note. "This is why today's announcement that the Strait of Hormuz is 'open to shipping' for the remainder of the ceasefire is significant."US Treasury yields sank, with the 10-year down 7.5 basis points to 4.23% and the two-year dropped 8.4 basis points to 3.69% as falling crude oil prices damped inflation concerns. In precious metals, gold futures advanced 1.8% to $4,894.5 and silver futures jumped 4.8% to $82.51.All sectors except energy and utilities soared intraday. Consumer discretionary, industrials, and technology led the gainers.Airlines and cruise liners were the S&P 500's leaders. Royal Caribbean (RCL), United Airlines (UAL), and Carnival (CCL) led the outperformers, with gains of at least 8.6% each. Chevron (CVX), down 3.3%, was the Dow's worst performer.In company news, shares of Netflix (NFLX) slid 9.6%, among the worst performers on the S&P 500 and the Nasdaq, after the company released Q2 guidance late Thursday below market consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June.

$^DJI$^IXIC$^SPX$CCL$CVX$NFLX$RCL$UAL

Asia Markets21d ago

Exchange-Traded Funds, US Equities Rise After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV advanced. Actively traded Invesco QQQ Trust (QQQ) added 1.4%.US equity indexes jumped, with the S&P 500 and the Nasdaq Composite breaking records, and crude oil futures sank Friday afternoon after the Strait of Hormuz was declared open for the remainder of the ceasefire period.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each dropped about 3.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.7%; iShares US Technology ETF (IYW) rose 1.7%, and iShares Expanded Tech Sector ETF (IGM) added 1.4%.The State Street SPDR S&P Semiconductor (XSD) climbed 2.7%, and iShares Semiconductor (SOXX) was up 2.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 1.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 5.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 5.3%.CommoditiesCrude oil dropped 10.5%, and the United States Oil Fund (USO) slipped 9.7%. Natural gas rose 1.4%, and the United States Natural Gas Fund (UNG) added 0.7%.Gold on Comex gained 1.8%, and the State Street SPDR Gold Shares (GLD) rose 1.6%. Silver advanced 5%, and iShares Silver Trust (SLV) was up 4.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 1.1%. The Vanguard Consumer Staples ETF (VDC) added 1.2%, and iShares Dow Jones US Consumer Goods (IYK) was 1% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) climbed up 3.4%. VanEck Retail ETF (RTH) was up 1.8%, while the State Street SPDR S&P Retail (XRT) added 3.8%.Health CareThe State Street Health Care Select Sector SPDR (XLV) rose 1.7%, iShares US Healthcare (IYH) added 1.7%, and Vanguard Health Care ETF (VHT) was 1.8% higher. IShares Biotechnology ETF (IBB) gained 1.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 2.6%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also moved higher.CryptocurrencyBitcoin (BTC-USD) rose 3.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 3.4%, ProShares Ether ETF (EETH) gained 4.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 3.7%.

$^DJI$^EEM$^EXI$^FAS$^FAZ$^GLD$^IBB$^IGM$^IGV$^IPK$^IVV$^IWM$^IXIC$^IYE$^IYH$^IYJ$^IYK$^IYW$^PMR$^QQQ$^RTH$^SOXX$^SPX$^SPY$^UNG$^USO$^VDC$^VHT$^VIS$^XLE$^XLF$^XLI$^XLK$^XLP$^XLV$^XRT$^XSD$BETH$BITO$EETH

Asia Markets21d ago

UK FTSE 100 Closes in the Green Amid Growing Middle East Conflict Resolution Optimism

London's FTSE 100 closed the trading week 0.73% higher on Friday amid renewed optimism over the resolution of the Middle East conflict as a 10-day ceasefire agreement between Israel and Lebanon takes effect."The fragile ceasefire between Israel and Lebanon removes one key obstacle for the US-Iran talks. However, a number of issues remain, not least Iran's nuclear program and the control of the Strait of Hormuz," Danske Bank said in a note. "We expect the ceasefire to be extended over the weekend, but as European and Gulf officials warned yesterday, we think a more permanent deal will take months."With the agreement in place, Iranian Foreign Minister Abbas Araghchi said in a social media post on X that the Strait of Hormuz is "declared completely open" for all commercial vessels "for the remaining period of ceasefire."The UK economic calendar was quiet for the day. Looking ahead, next week will see the release of several private sector and economy-related data, including the March British inflation figures.On the corporate side, Fitch affirmed Kingfisher plc's (KGF.L) BBB long-term issuer default rating, with a stable outlook, mainly reflecting its leading position in the home improvement retail market and expectations that the company's credit metrics will remain in line with its rating. The stock was up 2.39% at closing.Meanwhile, oil and gas giants BP (BP.L) and Shell (SHEL.L) were among the blue-chip index's top fallers, logging respective declines of 7.36% and 5.57% at the end of the trading session.

$^FTSE$BP.L$KGF.L$SHEL.L

Asia Markets21d ago

Germany's DAX Index Ends Week Higher; Deutsche Börse Gains

German equities finished the week on an upbeat note, with the blue-chip DAX index 2.27% higher at Friday's close, as markets digested signals of potential diplomatic progress in the Middle East.Geopolitical tensions showed signs of cooling as a 10-day ceasefire between Lebanon and Israel took hold Thursday. Investors also responded positively to US President Donald Trump saying they are "very close" to reaching an agreement with Iran, adding that talks may resume over the weekend.On this side of the Atlantic, the euro area recorded a trade surplus of 11.5 billion euros in February, following a revised trade deficit of 1 billion euros a month ago. Eurostat reported that exports of goods to the rest of the world declined by 6.7% year-over-year to 232.4 billion euros, while imports saw a 2.2% reduction, settling at 220.9 billion euros.On the corporate side, Deutsche Börse (DB1.F) added 0.62%, as BofA Global Research upgraded its rating and price objective, citing the German exchange operator's solid market positioning amid current uncertainties."We upgrade Deutsche Borse (DB1) to Buy from Neutral with a new [price objective] of EUR300 (ADR $35.39) as we think it is best positioned among European exchanges in the current environment for greater volumes and NII on higher rates and cash balances. Q126 volumes are up double-digit % YoY in cash equities, fixed income derivatives and particularly commodities given energy disruption caused by the Middle East conflict, which has potential to persist. Accordingly, we raise cash EPS 6-7% and are 2-6% above Visible Alpha consensus. Our 2026 and 2028 forecasts now assume DB1's targets are met despite IMS headwinds. We see further EPS upside from the Allfunds (ALLFG) deal if approved (not in our estimates)," the research firm wrote.Meanwhile, German technology group Siemens (SIE.F) plans to seek investor approval for the spinoff of medical technology company Siemens Healthineers (SHL.F) at its annual general meeting in February 2027. As part of the deconsolidation strategy, Siemens Healthineers shares will be distributed directly to existing Siemens shareholders. Siemens gained 3.36%, while Siemens Healthineers was up 1.46% at closing."The slower pace of the SHL spin-off will be disappointing to some investors, though was always a risk given the tight EGM timeframe. We note the longer-term business simplification story is clearly unchanged (and we would expect continued incremental SHL sell-downs on the market over time, in line with prior company comments)," analysts at RBC Capital Markets said in a quick-take note.

$^DAX$DB1.F$SHL.F$SIE.F

Asia Markets21d ago

European Stocks Rise in Friday Trading Following Middle East War Ceasefire

The European stock markets were tracking higher in Friday trading as a 10-day ceasefire between Israel and Lebanon has gone into effect, and Iran announced that it has reopened the Strait of Hormuz, which sent oil prices tumbling.The Stoxx Europe was rising 1.4%, Germany's DAX was surging 2.2%, the FTSE 100 was increasing 0.7%, France's CAC was up 2%, and the Swiss Market Index was moving 1.7% higher.Falling oil prices hit European energy companies as BP and Shell were falling 7.2% and 5.4% respective in London, while shares of Eni were dropping 7% in Milan. RWE and E.ON were down 4% and 1.8% respectively in Frankfurt, while TotalEnergies and Engie were losing 5.2% and 1.4% respectively in Paris.And in corporate news, Deutsche Bank has notified Germany's central bank Bundesbank that it may have violated sanctions that limit deposits of Russian individuals to less than 100,000 euros ($118,000), multiple media outlets reported Friday.A Deutsche Bank compliance group discovered the potential breach after Germany updated its legislation earlier in the year to implement the EU sanctions.Deutsche Bank didn't immediately respond to a request for comment from.Shares of Deutsche Bank were up close to 3% in Frankfurt.HSBC is in talks to sell its retail banking assets in Indonesia, with Oversea-Chinese Banking Corp., or OCBC, emerging as the preferred bidder, Bloomberg reported Friday, citing people familiar with the matter.The potential deal could value the business at more than 6 trillion rupiah ($350 million), though discussions remain ongoing and no final decision has been made, the report said.HSBC and OCBC did not immediately respond to' requests for comment, while attempts to reach Sumitomo Mitsui Financial Group were unsuccessful.Shares of HSBC were moving 2% higher in London.Ericsson reported Q1 earnings Friday of 0.27 Swedish krona ($0.029) per diluted share, down from 1.24 krona a year earlier.Analysts polled by FactSet expected 1.04 krona.Net sales for the quarter ended March 31 were 49.33 billion krona, down from 55.03 billion krona a year earlier. Analysts surveyed by FactSet expected 50.93 billion krona.The company also said it authorized a stock buyback plan worth up to 15 billion krona, scheduled to begin on Thursday.Shares of the Swedish telecommunications company fell more than 4% in Stockholm.

Asia Markets21d ago

Swiss Blue-chip Index Ends Week Upbeat on Renewed Middle East Peace Hopes

Swiss stocks staged a recovery on Friday, with the Swiss Market Index closing 1.92% in the green, amid fresh hopes that war in the Middle East will soon reach a resolution.Iran's foreign minister declared on X that the Strait of Hormuz is "completely open" for passage of all commercial vessels "for the remaining period of ceasefire," in line with the 10-day ceasefire agreement between Lebanon and Israel that is now in effect. Meanwhile, President Donald Trump said on the Truth Social platform the US naval blockade of Iranian ports will continue "until such time as our transaction with Iran is 100%."Back home, Switzerland signed an investment protection agreement with Bahrain on the sidelines of the World Bank Group and International Monetary Fund spring meetings in the US. The agreement will take effect following completion of internal approval procedures in both countries.Over to corporates, Berenberg increased its price target for VAT Group (VACN.SW) to 480 francs from 466 francs, with an unchanged hold rating on the stock, noting that underlying demand "continues to run hot." The Swiss vacuum valves maker's order intake reached 356 million francs in the first quarter, although deliveries were affected by disruptions caused by the Middle East war. The stock gained 6.09% at closing."Following its Q1 update, VAT struck a confident tone, reiterating that it feels comfortable with around CHF1.3bn of full-year consensus sales. However, the implied trajectory is anything but conservative. Based on Q2 guidance of CHF265m-295m, the setup clearly points to a back-end-loaded year, with a strong H2 required to bridge the gap," the research firm said in a note. "In our view, this guidance effectively assumes that production ramps, supply chains and customer deliveries all run without friction, which we consider to be a high bar in an environment that still lacks full visibility."Partners Group (PGHN.SW) also closed the session 3.38% higher as it concluded its eighth private equity secondaries program, securing more than $9 billion of total commitments from clients. The Swiss private equity giant's program is 60% committed, with a highly diversified investor base, including institutional investors across Europe, Asia-Pacific and the US.

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Asia Markets21d ago

European Equities Traded in the US as American Depositary Receipts Sharply Higher in Friday Trading

European equities traded in the US as American depositary receipts were climbing higher late Friday morning, rising 1.06% to 1,840.68 on the S&P Europe Select ADR Index, which has gained 1.42% for the week.From continental Europe, the gainers were led by lender Banco Santander (SAN) and software firm SAP (SAP), which advanced 5.3% and 4.2%, respectively. They were followed by healthcare tech company Royal Philips (PHG) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which increased 4.1% each.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 9% and 7.4%, respectively. They were followed by telecommunications company Ericsson (ERIC) and medical device maker EDAP TMS (EDAP), which lost 6.2% and 3.6%, respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and biopharmaceutical company NuCana (NCNA), which rose 9.3% and 7.1%, respectively. They were followed by hospitality company InterContinental Hotels Group (IHG) and lender Barclays (BCS), which were up 4.7% and 4.6%, respectively.The decliners from the UK and Ireland were led by oil and gas companies BP (BP) and Shell (SHEL), which fell 8.1% and 5.2%, respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which were down 2.7% and 2.6%, respectively.

$BBVA$BCS$BP$CUK$E$EDAP$EQUINOR$ERIC$IHG$NCNA$PHG$SAN$SAP$SHEL$TRIB$VOD

Asia Markets22d ago

Asian Equities Traded in the US as American Depositary Receipts Surge in Friday Trading; Up 5% for Week

Asian equities traded in the US as American depositary receipts were moving sharply higher Friday morning, rising 2.14% to 2,877.93 on the S&P Asia 50 ADR Index, which is surging more than 5% for the week so far.From North Asia, the gainers were led by education company 17 Education & Technology Group (YQ) and computer hardware maker Canaan (CAN), which climbed 13% and 8.3%, respectively. They were followed by education company Four Seasons Education (FEDU) and consumer lender Eason Technology (DXF), which advanced 4.9% and 4.4%, respectively.The decliners from North Asia were led by healthcare platform 111 (YI), which fell 4.4%, followed by social media platform JOYY (JOYY) and semiconductor company Himax Technologies (HIMX), which were down 1.4% and 0.4%, respectively.From South Asia, the gainers were led by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which rose 5.6% and 3.4%, respectively. They were followed by IT firm Sify Technologies (SIFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 3.1% and 2.3%, respectively.There were no decliners from South Asia.

$CAN$DXF$FEDU$HDB$HIMX$IBN$JOYY$RDY$SIFY$YI$YQ

Asia Markets22d ago

Israel-Lebanon Ceasefire, S&P 500's Record Close Drive US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Friday as a 10-day ceasefire between Israel and Lebanon went into effect while the S&P 500 and Nasdaq Composite posted new all-time highs on Thursday.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.The halt of Israel's attacks on Lebanon has been an important condition for the resumption of US-Iran talks, which President Donald Trump said could occur "probably, maybe, next weekend" in remarks made outside the White House on Thursday. Trump also said that a deal with Iran could be finalized ideally before the US-Iran ceasefire ends on Tuesday, but he was willing to extend if necessary.The S&P 500 gained 0.3% to close at 7,041.28, while the Nasdaq advanced 0.4% to end at 24,102.70.Traders took note of results from two major banks, with Truist Financial (TFC) reporting higher Q1 earnings and revenue and Fifth Third Bancorp (FITB) posting lower Q1 earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.2% at $95.17 per barrel and US West Texas Intermediate crude 4.9% lower at $90.08 per barrel.Federal Reserve San Francisco President Mary Daly, Richmond President Thomas Barkin, and Governor Christopher Waller are scheduled to speak on Friday.In other world markets, Japan's Nikkei closed 1.8% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Netflix (NFLX) stock was down 9.5% after the company issued Q2 guidance late Thursday that fell short of analysts' consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June. Exelon (EXC) shares were 1.6% lower after the company's stock rating was downgraded by Mizuho, Barclays and BMO Capital.On the winning side, Eli Lilly (LLY) stock was up 1.9% after the company said its experimental drug Foundayo met its primary endpoint of a phase 3 clinical trial by showing a lower risk of severe cardiovascular incidents compared with insulin glargine in adults with type 2 diabetes. Oracle (ORCL) shares were up 2.6% after the company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon (AMZN) Web Services.

$^DJI$^IXIC$^SPX$AMZN$EXC$FITB$LLY$NFLX$ORCL$TFC

Asia Markets22d ago

UAE Stocks End Week Upbeat Amid Optimism on Easing Middle East Tensions

Stocks in the United Arab Emirates concluded the trading week in the green, buoyed by increasing hopes that the conflict between the US and Iran would be resolved soon.At the close of Friday trading, the FTSE ADX General Index gained 0.028%, while the DFM General Index was up 0.977%.Oil prices fell after US President Donald Trump said that a deal with Iran would be agreed "soon" and that the two-week ceasefire between the countries could be extended. Trump also mentioned in a social media post that he will invite Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun to the White House following their agreement on a 10-day ceasefire."Despite encouraging headlines around the US and Iran discussing a longer truce and a ceasefire between Israel and Lebanon, there still isn't enough clarity to justify a sustained move below the $90‑95/bbl range in Brent or above 1.1850 in EUR/USD for now. A media report also suggested that European and Gulf officials expect any US‑Iran deal to take around six months, despite US President Donald Trump claiming it could happen 'soon,'" ING said.As of 3:53 pm UAE time, the Brent crude oil futures stood at nearly $95.909 per barrel, down 3.49% from the previous day.Back at home, the UAE's Ministry of Foreign Affairs noted the ceasefire deal between Israel and Lebanon, saying that the move will mark a "positive step" towards regional stability.On the corporate front, ADNH Catering (ADX:ADNHC) reported a lower attributable profit of 30.4 million Emirati dirhams for the first quarter, with the company citing the short-term impact of geopolitical tensions in the region. Shares of the hospitality group closed the session flat.In Dubai, Gulf Navigation (DFM:GULFNAV) issued a statement clarifying that it was not aware of any undisclosed information that led to a surge in its share price from Wednesday to Thursday. The maritime and shipping company's stocks were 4.62% in the green at closing.

$^DFMGI$^FADGI$ADX:ADNHC$DFM:GULFNAV

Asia Markets22d ago

US Equity Indexes Rise After Israel-Lebanon Ceasefire Deal Injects Optimism in Middle East Diplomacy

US equity indexes rose on Thursday after an agreement for a 10-day ceasefire between Israel and Lebanon removed a major obstacle to Middle East diplomacy in finding a lasting Iran peace deal.Crude oil futures, however, remained higher as the US warned Iran of military action should it fail to reach a deal in a potential second round of peace talks in Pakistan.The Nasdaq Composite rose 0.4% to 24,102.70, with the S&P 500 up 0.3% to 7,041.28, and the Dow Jones Industrial Average higher by 0.2% to 48,58.2. Energy, real estate, and technology led the gainers. Health care was the worst performer.President Trump said the US might hold discussions with Iran this weekend, The Wall Street Journal reported. "We're very close to making a deal," the president told reporters outside the White House, according to the WSJ. Trump said he wasn't sure the current two-week ceasefire in the war would need to be extended, according to the report.Earlier on Thursday, Trump said on Truth Social that Lebanon and Israel have agreed to a 10-day ceasefire starting 5 pm ET. Lebanese Prime Minister Nawaf Salam said he welcomed the decision. In a follow-up social media post on Thursday, Trump said he plans to invite the Lebanese President, Joseph Aoun, and Israel's Prime Minister Benjamin Netanyahu to the White House for talks.Meanwhile, US Defense Secretary Pete Hegseth said Thursday that the naval blockade of Iran is an example of "polite" behavior during the ongoing ceasefire, and US forces are ready to strike power plants and the energy industry in the country, if ordered, according to a report from Reuters.Iranian officials and Pakistan's army chief, Asim Munir, are said to have met in Tehran on Thursday to discuss messages between Tehran and Washington, according to a CNN report. The White House expressed optimism about reaching a deal, saying the second round of talks would likely be held in Pakistan.The CBOE Volatility Index fell 1.5% to 17.91, after trading as high as 19.09 earlier in the session.West Texas Intermediate crude oil futures rose 2.3% to $93.56, and Brent crude futures jumped 3.3% to $98.20.US Treasury yields traded mixed, with the 10-year up 3.8 basis points to 4.32%.In precious metals, gold futures fell 0.2%% to $4,811.9 and silver futures declined 1.2% to $78.66.In economic news, US initial jobless claims fell to 207,000 in the week ended April 11 from a downwardly revised 218,000 in the previous week, compared with expectations for a smaller decrease to 213,000 in a survey of analysts compiled by Bloomberg."The conflict in Iran is unlikely to cause significant disruptions in the US labor market," Thomas Simons, Chief Economist at Jefferies, said in a note. "There are many vulnerable points in the global economy that are at risk in the near-term due to potential shortages of all sorts of commodities, but for better or worse, the US economy is likely going to be the most insulated in the world."US industrial production fell by 0.5% in March, compared with expectations for a 0.1% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.7% increase in February.In company news, Charles Schwab (SCHW) shares dropped 7.6% intraday, the steepest decline on the SP 500, after the company reported Q1 net revenue below analysts' expectations.Boeing (BA) is ramping up its hiring, reaching about 100 to 140 factory workers a week, in a bid to replace retiring workers and support increasing production rates, Reuters reported Thursday, citing an interview with a union leader. Shares of the aircraft manufacturer dropped 2.3% intraday, the Dow's worst performer.

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Asia Markets22d ago

US Equity Indexes Mixed Following Israel-Lebanon Ceasefire Agreement

US equity indexes were mixed in midday trading on Thursday after Israel and Lebanon agreed to a 10-day ceasefire, removing an obstacle to diplomacy in the Middle East for extending the Iran truce deal.The Nasdaq Composite rose 0.1% to 24,046.2, with the S&P 500 up less than 0.1% to 7,024.3, and the Dow Jones Industrial Average steady at 48,454.77. All three gauges traded higher earlier in the session. Energy and technology led the gainers. Health care was the worst performer.President Donald Trump said Thursday on Truth Social that Lebanon and Israel have agreed to a 10-day ceasefire starting 5 pm ET. Lebanese Prime Minister Nawaf Salam said he welcomed the announcement. Following the announcement of a two-week truce between Iran and the US on April 7, Israel continued bombing Iranian proxy groups in Lebanon - a move that Tehran saw as a violation of the ceasefire agreement with the US.Meanwhile, Iranian officials and Pakistan's army chief Asim Munir are meeting in Tehran on Thursday to discuss messages between Tehran and Washington, according to a report from CNN. The White House has expressed optimism about reaching a deal, saying the second round of talks would likely be held in Pakistan.US Defense Secretary Pete Hegseth said Thursday that the naval blockade of Iran is an example of "polite" behavior during the ongoing ceasefire, and US forces are ready to strike power plants and the energy industry in the country, if ordered, according to a report from Reuters.West Texas Intermediate crude oil futures rose 3.6% to $94.61, and Brent crude futures jumped 4.8% to $99.52.In precious metals, gold futures fell 0.2%% to $4,812.20 and silver futures declined 1.2% to $78.71.US Treasury yields traded mixed, with the 10-year up 3.4 basis points to 4.31%.In company news, Charles Schwab (SCHW) shares dropped 5.8% intraday, among the steepest decliners in the SP 500, after the company reported Q1 net revenue below analysts' expectations.Boeing (BA) is ramping up its hiring, reaching about 100 to 140 factory workers a week, in a bid to replace retiring workers and support increasing production rates, Reuters reported Thursday, citing an interview with a union leader. Shares of the aircraft manufacturer dropped 3% intraday, the Dow's worst performer.In economic news, US initial jobless claims fell to a level of 207,000 in the week ended April 11 from a downwardly revised 218,000 level in the previous week, compared with expectations for a smaller decrease to 213,000 in a survey of analysts compiled by Bloomberg.US industrial production fell by 0.5% in March, compared with expectations for a 0.1% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.7% increase in February.The Philadelphia Federal Reserve's monthly manufacturing index rose further to 26.7 in April after increasing to 18.1 in March, compared with expectations for a decline to a reading of 10 in a survey compiled by Bloomberg.The New York Federal Reserve's services index improved to minus 14.0 in April from minus 22.6 in March, compared with a smaller expected increase to a reading of minus 20.0 in a survey compiled by Bloomberg. The index is the first services sector reading for April and suggests a slower pace of contraction.

$^DJI$^IXIC$^SPX$BA$SCHW

Asia Markets22d ago

Exchange-Traded Funds Mixed, US Equities Rise After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM was softer while IVV gained. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were higher after midday Thursday after Israel and Lebanon agreed to a 10-day ceasefire, removing an obstacle to diplomacy in works to extend the Iran truce deal.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 1.6%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.9%; iShares US Technology ETF (IYW) rose 0.7%, and iShares Expanded Tech Sector ETF (IGM) added 0.8%.The State Street SPDR S&P Semiconductor (XSD) climbed 2%, and iShares Semiconductor (SOXX) was up 0.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) slipped 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 0.3%.CommoditiesCrude oil fell 0.8%, and the United States Oil Fund (USO) advanced 3.8%. Natural gas rose 1.3%, and the United States Natural Gas Fund (UNG) added 1.2%.Gold on Comex eased 0.2%, and the State Street SPDR Gold Shares (GLD) fell 0.1%. Silver shed 1.2%, and iShares Silver Trust (SLV) dipped 1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 0.2%. The Vanguard Consumer Staples ETF (VDC) added 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was 0.2% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) eased 0.4%. VanEck Retail ETF (RTH) was flat, while the State Street SPDR S&P Retail (XRT) added 0.8%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.7%, iShares US Healthcare (IYH) declined 0.8%, and Vanguard Health Care ETF (VHT) was 0.7% lower. IShares Biotechnology ETF (IBB) shed 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.5%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also declined.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 0.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) slipped 1%, ProShares Ether ETF (EETH) eased 1.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.9%.

Asia Markets22d ago

German DAX Extends Gains Amid Growing Hopes to End of Iran War

Germany's blue-chip DAX index ended Thursday's session 0.36% higher, buoyed by increasing optimism over a potential end to the war in Iran.Reuters reported, citing an unnamed source, that a key Pakistani mediator achieved a breakthrough on "sticky issues" between the US and Iran, while noting Iranian officials cautioned that the future of the nation's nuclear program remains unresolved. Pakistan's army chief, Field Marshal Asim Munir, is in Tehran seeking to extend the Iran ceasefire after weekend talks in Islamabad failed to yield a deal. And while both sides remain open to further negotiations, a timeline has not yet been established, the news outlet added.On the economic front, inflation in the eurozone accelerated in March. According to final data from Eurostat, the euro area's annual inflation rate rose to 2.6% from 1.9% in February, above the flash estimate of 2.5%. Meanwhile, the core rate, which excludes energy, food, alcohol and tobacco, came in at 2.3%, consistent with the preliminary reading and down from the previous 2.4%.For the month, services were cited as the highest contributor, followed by energy, food, alcohol and tobacco, and then non-energy industrial goods.Against this backdrop, BofA Global Research noted that euro area inflation and economic growth are more sensitive to oil price movements than the US. "Using a VAR approach, we show that the Euro area economy has a much larger sensitivity to oil prices than the US for both inflation and growth. We find the inflationary impact of a 10% oil shock to reach about 40 [basis points], with the corresponding growth impact of over 10bp. Both effects are about twice as large as for the US. We think the larger share of energy in Europe's consumption basket, as well as the region being an oil importer, explain the results. Our findings suggest that Europe will take a larger hit from the energy shock compared to the US," the research firm wrote.In corporate news, Bayer (BAYN.F) was down 0.12%, as Deutsche Bank Research lifted the hold-rated stock's price target to 43 euros from 23 euros ahead of the German life science company's first-quarter results due on May 12."We forecast Q1 [organic sales growth] to increase by 3.6% YoY, driven by Crop Science, boosted by a EUR450m licensing income, offsetting a flattish performance in Pharma and modest growth in Consumer Health. ... Bayer's direct exposure to the ME is very limited, and its end markets are relatively resilient. While we anticipate growing energy & input cost headwinds for crop protection, this is relatively small as a % of group and energy is well hedged," Deutsche Bank said.Meanwhile, the German cartel office authorized defense company Rheinmetall's (RHM.F) subsidiary, Rheinmetall Digital, and space technology group OHB (OHB.F) to form a joint venture focused on pursuing a future procurement contract for the German armed forces. Rheinmetall fell 1.20%, while OHB gained 3.97%.

$^DAX$BAYN.F$OHB.F$RHM.F

Asia Markets22d ago

UK Shares Gain on Better-than-Expected GDP Report; Entain Shines

The UK's FTSE 100 rallied 0.29% on Thursday's close after government data showed better-than-expected economic growth in February, while the US blockade of Iranian ports continues as the Trump administration seeks a peace agreement with Iran.The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said. The reading beat market expectations for a 0.1% uptick."The large upside surprise to GDP growth in February will reignite concerns about residual seasonality in the GDP statistics, but nonetheless confirms that the economy made a good start to the year," Berenberg said. "On an annual basis, growth picked up from 0.7% yoy to 1.0% yoy as a strong February made up for a disappointing end to 2025. Sadly, the start of the Iran war on 28 February will stop the upswing in its tracks."In corporate news, Entain (ENT.L) climbed 6.02% to become one of the top risers on the blue-chip index after reiterating its 2026 guidance for online net gaming revenue to rise between 5% and 7% on a constant currency basis. The sports betting and gaming company's net gaming revenue rose 3% for the first quarter, with online net gaming revenue rising 5% and retail net gaming revenue down 3%."Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation. Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future," Chief Executive Officer Stella David said.On the flip side, Rentokil Initial (RTO.L) fell 0.82% at closing. The pest control and hygiene services company logged a 4.3% yearly rise in first-quarter revenue while projecting full-year performance in line with market expectations."Q1 organic growth was slightly ahead at 3.4% (vs our forecast of 3.0%)," RBC Capital Markets said. "Within that US Pest Control Services growth was 2.8% - slightly better than Q4's 2.6%, despite the tough weather in Jan. This was partly offset by weaker growth in International, due to tough Pacific [comparables] and Middle East impacts."

$^FTSE$ENT.L$RTO.L

Asia Markets22d ago

European Stocks Mixed in Thursday Trading; EU, Euro Area Inflation Surges

The European stock markets were mixed in Thursday trading as investors keep a wary eye on developments in the Middle East, while European Union and Euro Area inflation rises sharply from soaring oil prices spurred by the Middle East war.The Stoxx Europe was marginally lower, Germany's DAX was up 0.4%, the FTSE 100 was rising 0.3%, France's CAC was 0.1% higher, and the Swiss Market Index was off 0.3%.Euro area annual inflation surged to 2.6% in March from 1.9% in February, and 2.2% a year earlier, according to Eurostat, the statistical office of the European Union. In the EU, annual inflation jumped to 2.8% in March from 2.1% in February, and 2.5% a year earlier.The lowest annual rates were in Denmark at 1.0%, followed by Czechia, Cyprus and Sweden at 1.5% each. Meanwhile, the highest annual rates were in Romania at 9.0%, followed by Croatia and Lithuania at 4.6% and 4.4% respectively.Compared with February, inflation rose in 23 of the 27 EU member states, fell in three, and was unchanged in one.In the UK, GDP growth was 0.5% in February up from 0.1% in January, according to the Office for National Statistics, which said the sharp increase was spurred mainly by growth in mining and quarrying. The reading easily topped analyst forecasts of 0.1%, according to Bloomberg.And in corporate news, Stellantis plans a 100-million-euro ($117.9 million) investment to overhaul its Poissy assembly plant near Paris in a bid to keep the facility open, Bloomberg News reported Thursday. The company will continue producing vehicles at the facility through at least the end of 2028, according to the report.Stellantis didn't immediately respond to' request for comment.Stellantis also said Thursday that it has signed a five-year strategic collaboration deal with Microsoft to co-develop advanced artificial intelligence, cybersecurity, and engineering capabilities for the automaker's cars.Shares of the automaker were declining 0.9% in Paris.TotalEnergies said Thursday that Q1 exploration and production results are expected to rise significantly, supported by higher oil prices and contributions from new projects.Integrated liquefied natural gas results are also projected to be significantly higher sequentially, driven by a 10% increase in production and strong trading activity. Downstream results are expected to improve as well, supported by higher refining utilization rate and robust trading.Shares of the French energy company were up 0.7% in Paris.Equinor said Thursday it expects stronger Q1 results in its marketing, midstream, and processing division. The company projects the division's average quarterly adjusted operating income at around $400 million."Result this (Q1) is expected to be above this guidance," Equinor said. "The conflict in the Persian Gulf has driven significant volatility across crude, products and liquids towards the end of the quarter."Shares of the Norwegian petroleum refiner were trading 1.2% higher in Oslo.Royal Philips said Thursday that it has received a 510(k) clearance from the US Food and Drug Administration for its Spectral CT Verida system.Verida is a computed tomography X-ray system intended for diagnostic imaging in radiology, interventional radiology, among others, Royal Philips said. The submission is intended to demonstrate to the FDA that a medical device is as safe and effective as a legally marketed device, according to the government agency.Shares of the healthcare tech company were off 0.1% in Amsterdam.Opera said Thursday it has launched Browser Connector, a new feature in Opera One and Opera GX that integrates artificial intelligence tools directly into live browsing sessions via model context protocol.The company said the feature provides AI services such as ChatGPT and Claude with real-time context from open tabs and active content.Shares of the internet browser company increased 5.6% in Frankfurt.

Asia Markets22d ago

Swiss Market Index Extends Losses; Barry Callebaut Plummets

The blue-chip Swiss Market Index closed Thursday's trading session 0.35% in the red, extending its losses, as investors took stock of the latest economic and corporate releases across key markets.Switzerland's monthly producer and import price index edged up 0.2% month over month in March amid an increase in petroleum product and natural gas prices, according to the Federal Statistical Office. On an annual basis, producer and import prices fell 2.7%.Elsewhere, the annual inflation rate in the euro area climbed to 2.6% in March from 1.9% in February, while the annual core inflation rate declined to 2.3% from 2.4%, Eurostat's final data showed. In the UK, the country's monthly real gross domestic product rose 0.5% in February, following an upwardly revised 0.1% growth in January.Back home and in corporate news, Roche (RO.SW) agreed to purchase Saga Diagnostics for up to $595 million, including commercial and regulatory milestone payments, giving it access to Saga's tumor-informed molecular residual disease platform Pathlight. The deal is expected to complete in the third quarter. Shares of the drugmaker were down 0.67% at closing.Meanwhile, Barry Callebaut (BARN.SW) plummeted 15.59% after reporting a year-over-year drop in fiscal first-half revenue to 6.75 billion francs from 7.29 billion francs, as sales volumes fell 6.9% to 1,010,247 tonnes. Net profit increased over the period. For fiscal 2026, the Swiss chocolate and cocoa products group expects a mid-teens decline in recurring EBIT in local currencies but noted that its profitability outlook is subject to potential impacts from disruption in the Middle East."In the first half of our fiscal year, cocoa bean prices decreased, which is encouraging for future chocolate market momentum and supported strong free cash flow generation," Chief Executive Officer Hein Schumacher said. "Yet the unique speed of the market decrease combined with a competitive overcapacity market, volume declines and supply disruption impacted EBIT performance and adjusted our profitability outlook for the year as we prioritize restoring volume and leading the market back to growth. Our immediate priority is to focus - commercially, operationally and organizationally."

$^SSMI$BARN.SW$ROG.SW

Asia Markets22d ago

European Equities Traded in the US as American Depositary Receipts Declining in Thursday Trading

European equities traded in the US as American depositary receipts were trending lower late Thursday morning, declining 0.42% to 1,823.55 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and internet browser company Opera (OPRA), which advanced 4.4% and 3.7%, respectively. They were followed by petroleum refiner Equinor (EQNR) and software firm SAP (SAP), which increased 3.6% and 3.1%, respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which dropped 3% and 1.6%, respectively. They were followed by biopharmaceutical companies DBV Technologies (DBVT) and argenx (ARGX), which fell 1.3% and 1.1%, respectively.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and communications company WPP (WPP), which rose 4.3% and 2.8%, respectively. They were followed by educational publisher Pearson (PSO) and oil and gas company BP (BP), which were up 2.4% and 2.1%, respectively.The decliners from the UK and Ireland were led by cruise line operator Carnival (CUK) and biopharmaceutical company Bicycle Therapeutics (BCYC), which lost 4.6% and 2.8%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and pharmaceutical company GSK (GSK), which were down 1.7% and 0.9%, respectively.

$ARGX$BCYC$BP$CLLS$CUK$DBVT$EQNR$EVAX$GSK$NCNA$OPRA$PSO$SAP$SQNS$WPP

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Asia Markets22d ago