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Exchange-Traded Funds, US Equities Rise After Midday

Broad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 1.5%.US equity indexes rose in midday trading on Tuesday as optimism over a peace deal with Iran hit crude oil futures, and after mega-cap banks reported quarterly earnings.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 2.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1%; iShares US Technology ETF (IYW) gained 1.6%, and iShares Expanded Tech Sector ETF (IGM) added 1.4%.The State Street SPDR S&P Semiconductor (XSD) gained 1.5%, and iShares Semiconductor (SOXX) was up 1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 0.8%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.8%.CommoditiesCrude oil fell 6.8%, and the United States Oil Fund (USO) dropped 3.7%. Natural gas fell 2%, and the United States Natural Gas Fund (UNG) dipped 2.3%.Gold on Comex gained 1.5%, and the State Street SPDR Gold Shares (GLD) rose 1.5%. Silver gained 5.1%, and iShares Silver Trust (SLV) added 5.2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 0.2%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, and iShares Dow Jones US Consumer Goods (IYK) was 0.3% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 2.3%. VanEck Retail ETF (RTH) was 1.3% higher, and the State Street SPDR S&P Retail (XRT) added 0.6%.Health CareThe State Street Health Care Select Sector SPDR (XLV) rose 0.8%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) climbed 1% each. IShares Biotechnology ETF (IBB) rose 2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.2%. Vanguard Industrials Index Fund (VIS) was 0.5% higher, and iShares US Industrials (IYJ) was up 0.3%CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 3.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 1.8%, ProShares Ether ETF (EETH) added 3.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was jumped 3.2%.

$^DJI$^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 Markets24d ago

Germany's DAX Index Gains on Hopes of Renewed US-Iran Peace Talks

Germany shares recovered from earlier losses on Tuesday, with the blue-chip DAX index up 1.27% at closing, amid reports that the US and Iran may return to the negotiating table.US and Iranian negotiators may head back to Pakistan by the end of the week to resume peace talks, Reuters reported, citing sources. The potential for a second round follows a failed weekend summit, which led to Washington's subsequent decision to enforce a naval blockade on Iranian ports."We've lowered our world GDP growth forecast by 0.4 [percentage points] since the start of March to 2.4% because we expect a more prolonged disruption to shipping activity through the Strait of Hormuz. The fragile ceasefire seemingly reduces the risk of a far worse outcome. But even if a truce is maintained, it will take time for energy production and shipping traffic to return to normal levels," Oxford Economics said.Back at home, the International Monetary Fund trimmed its economic growth projections for Germany for 2026 and 2027, due to the ongoing Middle East conflict. In its April World Economic Outlook, the IMF said it now expects Germany's gross domestic product to increase 0.8% and 1.2% in 2026 and 2027, respectively, both figures down by 0.3 percentage point from the previous expectations."War in the Middle East has halted [global growth] momentum. The closing of the Strait of Hormuz and serious damage to critical facilities in a region central to global hydrocarbon supply raise the prospect of a major energy crisis should hostilities continue," the IMF said.Meanwhile, Germany's selling prices in wholesale trade were up 4.1% year over year in March, following a 1.2% jump a month ago. Destatis attributed the reading to the conflict in the Middle East, which pushed wholesale prices of energy products and raw materials higher.In corporate news, Deutsche Börse (DB1.F) committed $200 million for a 1.5% stake in Payward, the parent company of US-based cryptocurrency exchange Kraken. The capital injection reinforces an ongoing strategic partnership, further integrating both firms' infrastructure across trading, custody, settlement, and tokenized assets. The German stock exchange operator was off 0.39% at the end of the trading day.In an earnings preview, Deutsche Bank forecasts a "solid start" for Mercedes-Benz's (MBG.F) vans segment, while the cars unit is projected to "likely reach" the lower half of its full-year guidance during the first quarter. The German automotive group is due to release its first-quarter results on April 29. The stock closed 1.94% higher.

$^DAX$DB1.F$MBG.F

Asia Markets24d ago

European Stocks Rise in Tuesday Trading; IMF Lowers Euro Area Growth Forecasts Amid Middle East Conflict

The European stock markets were trending higher in Tuesday trading as investors vacillated back to optimism regarding a possible end to the Middle East war with a resumption of US-Iran peace talks.The Stoxx Europe was gaining 0.9%, Germany's DAX increased 1.3%, the FTSE 100 was edging 0.25% higher, France's CAC rose 1.1%, and the Swiss Market Index was up 0.9%.The International Monetary Fund cut its GDP growth forecast for the euro area to 1.1% in 2026 from 1.4% in 2025, which it attributed to global economic disruption caused by the outbreak of war in the Middle East.Spain is expected to see the biggest drop in growth, falling to 2.1% from 2.8% in 2025, while GDP growth in the UK is forecast to drop to 0.8% from 1.3%. Germany is the only European country expected to see GDP growth in 2026, with the IMF forecasting a rise to 0.8% from 0.2%. GDP growth in France and Italy are forecast to remain unchanged at 0.9% and 0.5% respectively.Novo Nordisk has received the Medicines and Healthcare products Regulatory Agency approval for a new single-dose 7.2 mg of Wegovy to treat adults with obesity, the UK regulator said Tuesday.The new dose is for patients who have a body mass index of at least 30 kg/m2, according to the MHRA. The new dose is administered through one injection.Shares of the Danish pharmaceutical company gained 3.3% in Copenhagen.BHP Group is set to have its restrictions lifted by China Mineral Resources Group, which has told several steel mills in the country that they are allowed to buy some BHP cargoes, multiple media outlets reported late Monday, citing unnamed sources familiar with the matter.Officials from China Mineral notified domestic steel mills that they can restart bidding for some BHP cargoes denominated in US dollars from April 14, Bloomberg reported.BHP declined' request for comment on commercial negotiations, while China Mineral Resources Group did not immediately respond.Shares of the mining company were up 1.4% in London.Shell is in late-stage discussions to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported Tuesday, citing people with knowledge of the matter.The prospective $1 billion transaction includes 600 fueling locations and would secure a 10% regional market share for the buyer, the media outlet reported.A final agreement could be reached during the current quarter after earlier acquisition negotiations with Gunvor Group collapsed, according to the publication.Shell and Abu Dhabi National Oil did not immediately respond to' request for comment.Shares of Shell were falling 2.7% in London.Barclays' US Consumer Bank and FIS (FIS) said Tuesday they signed a multi-year extension of their core banking partnership agreement to support the bank's retail deposits growth ambitions.As part of the agreement, Barclays will deploy the FIS Profile service, a cloud-ready, high-performance core banking platform that manages deposits, accounts, and balances while delivering real-time, multi-currency processing, the companies said.Shares of the British lender were up 1.8% in London.

Asia Markets24d ago

UK Shares Gain Amid Reported Peace Talks; Intertek Zooms Up

London's FTSE 100 ended 0.25% higher on Tuesday amid mixed corporate updates and news that the US and Iran could resume talks despite a blockade on Iranian ports.Negotiators from Washington and Tehran could return to Islamabad this week for another round of peace talks, Reuters reported, citing unnamed sources who were privy to a proposal that had been shared with both sides to resend their delegations. A senior Iranian source added that no firm date has been set.On the economic side, retail sales in the UK grew 3.1% year over year on a like-for-like basis in March, against the 0.7% rise in the previous month, according to data from the British Retail Consortium. Analysts were expecting a 0.9% increase for the month. The strongest jump since April 2025 was mainly attributed to higher food sales amid an early Easter, while sales of travel-related goods were impacted by the conflict in the Middle East."Retailers hope that the Middle East ceasefire will bring lasting stability, but the outlook remains uncertain. Damage to supply chains has already been done, and rising costs - from shipping and fertiliser to insurance and commodities - are piling yet more pressure onto already stretched retailers. Government must act decisively and boldly now to curb inflation by delaying domestic policies that would push prices even higher for shoppers," said BRC Chief Executive Helen Dickinson.On the corporate front, Intertek Group (ITRK.L) surged 12.83% to the top of the blue-chip index after launching a strategic review to evaluate the potential separation of its energy infrastructure and testing businesses. The assurance, testing, and certification company also maintained its outlook for like-for-like revenue to increase at constant currency."In terms of management, this appears to mark ITRK's CEO's swansong move," RBC Capital Markets said. "With merger talks with BVI having been abandoned in mid-2024, this could yet mark a value creative exit for ITRK's shareholders and a sale has always been the key risk to being excessively bearish. However, buyers are likely to tread carefully given the complex geopolitical backdrop, impending disruption to energy/[Middle East]-related [testing, inspection, and certification] activities and any buyers are unlikely to rush any processes."On the contrary, Imperial Brands (IMB.L), down 4.84%, was the FTSE 100's worst performer after flagging "modest" market share losses across its top five markets while keeping its fiscal 2026 outlook for revenue, operating profit, and EPS."Imperial expects low single digit constant currency revenue growth for tobacco and NGP (Next Generation Products) in 1H, in line with Visible Alpha consensus of 1.5%, and 2H weighted operating profit growth as previously flagged. Full-year guidance of 'at least high-single digit earnings per share growth and at least GBP2.2 billion of free cash flow' has been reiterated. That said, market share looks to have declined in 1H," RBC said in another note.

$^FTSE$IMB.L$ITRK.L

Asia Markets24d ago

Swiss Market Index Recovers; Sika, PolyPeptide Group Shares Jump

The blue-chip Swiss Market Index bounced back on Tuesday, closing 0.94% higher, as investors digest the latest economy-related and corporate releases while keeping an eye on geopolitical developments.On the macroeconomic front, the International Monetary Fund lowered its 2026 global growth forecast to 3.1% in its April World Economic Outlook report, down by 0.2 percentage point from its previous estimate, under the assumption that the ongoing conflict in the Middle East remains limited in duration and scope. For 2027, the global growth is still expected to stand at 3.2%.For the euro area, the economic growth projections for 2026 and 2027 were both trimmed by 0.2 pp to 1.1% and 1.2%, respectively, while the estimates for the UK were cut by 0.5 pp and 0.2 pp to 0.8% and 1.3%.Back home, Swiss President Guy Parmelin and Federal Councilor Karin Keller-Sutter are set to attend the 2026 IMF and World Bank Spring Meetings and G20 finance ministers meeting in the US this week, according to Switzerland's Federal Council. Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel will also be part of the delegation."The Spring Meetings will focus on global economic and development policy challenges. In the current environment of geopolitical conflicts and trade tensions, it is particularly important for Switzerland to advocate reliable economic relations and open markets in multilateral bodies and bilateral contacts. Healthy public finances, price stability and a robust global monetary and financial system are also crucial for a resilient economy and lasting prosperity," the government said.Over to corporates, Sika (SIKA.SW) reported a 7% year-over-year drop in first-quarter net sales to 2.49 billion francs. The result was dented by a foreign currency impact of 213 million francs, which the Swiss specialty chemicals group mainly attributed to the franc's strength against Asian currencies and the US dollar. For full-year 2026, the company reaffirmed its sales growth guidance of between 1% and 4% in local currencies. The stock gained 7.94% at closing.PolyPeptide Group (PPGN.SW) also saw its shares rise 4.46% after disclosing that it is at an early stage of reviewing potential strategic options to further improve its long-term value for shareholders. Amid market chatter that it drew takeover interest from certain investors, the Swiss contract development and manufacturing organization noted that it has yet to decide on the review.

$^SSMI$PPGN.SW$SIKA.SW

Asia Markets24d ago

European Equities Traded in the US as ADRs Rise in Tuesday Trading

European equities traded in the US as American depositary receipts rose late Tuesday morning with the S&P Europe Select ADR Index gaining 0.3% to 1,844.78.From continental Europe, the gainers were led by biopharmaceutical company Grifols (GRFS) and internet browser company Opera (OPRA), which rose 3.1% and 2.9%, respectively. They were followed by pharmaceutical company Novo Nordisk (NVO) and semiconductor company Sequans Communications (SQNS), which were up 2.3% and 1.6%, respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and biotech firm Evaxion (EVAX), which fell 2.5% and 1.2%, respectively. They were followed by oil and gas company Eni (E) and pharmaceutical company Ascendis Pharma (ASND), which were down 1% and 0.5%, respectively.The gainers from the UK were led by biopharmaceutical companies Bicycle Therapeutics (BCYC) and Biodexa Pharmaceuticals (BDRX), which advanced 6.2% and 4.2%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and cruise line operator Carnival (CUK), which increased 3.4% and 3%, respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and pharmaceutical company Silence Therapeutics (SLN), which dropped 1.7% and 1.5%, respectively. They were followed by tobacco company British American Tobacco (BTI) and oil and gas company Shell (SHEL), which were off 1.4% and 1.1%, respectively.

$ASND$BCYC$BDRX$BTI$CUK$E$EQNR$EVAX$GRFS$NCNA$NVO$OPRA$SHEL$SLN$SQNS$TRIB

Asia Markets24d ago

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

Asian equities traded in the US as American depositary receipts were tracking sharply higher Tuesday morning, rising 0.94% to 2,795.46 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by computer hardware maker Canaan (CAN) and internet and data center services provider VNET Group (VNET), which climbed 9.6% and 5.3% respectively. They were followed by the utilities company Korea Electric Power (KEP) and video streaming service iQIYI (IQ), which advanced 5.1% and 5% respectively.The decliners from North Asia were led by brand platform 36Kr (KRKR) and healthcare platform 111 (YI), which fell 4.3% and 2.7% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and lender Sumitomo Mitsui Financial Group (SMFG), which were down 1.1% and 0.7% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and telecommunications operator PLDT (PHI), which rose 3.7% and 1% respectively. They were followed by lenders ICICI Bank (IBN) and HDFC Bank (HDB), which were up 0.7% and 0.3% respectively.The decliners from South Asia were led by telecommunications operator Telekomunikasi Indonesia (TLK), which dropped 1.8%, followed by IT firms Wipro (WIT) and Sify Technologies (SIFY), which lost 1.3% and 1% respectively.

$CAN$CMCM$HDB$IBN$IQ$KEP$KRKR$PHI$SE$SIFY$SMFG$TLK$VNET$WIT$YI

Asia Markets25d ago

S&P 500 Rebound, Optimism for US-Iran Deal Move US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday following a rebound in the S&P 500 as traders were optimistic that a deal could still be reached between US and Iran despite a breakdown in negotiations over the weekend.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.6% higher.The S&P 500 rose over 1% on Monday, erasing losses incurred since the beginning of the Middle East conflict.President Donald Trump said Monday that Iran had reached out to the US and wanted to "make a deal very badly."Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $97.88 per barrel and US West Texas Intermediate crude 3.2% lower at $95.96 per barrel.The US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a survey compiled by Bloomberg as of 7:45 am ET.In other world markets, Japan's Nikkei closed 2.4% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was up 1.1% in Europe's early afternoon session.In equities, Oracle (ORCL) shares were up 4.9% after the company said it introduced new artificial intelligence-focused features for its utilities software suite. Novo Nordisk (NVO) stock was 3.3% higher after the company said it formed a strategic partnership with Microsoft (MSFT)-backed OpenAI to deploy advanced AI across its operations. In addition, Novo Nordisk received the Medicines and Healthcare products Regulatory Agency approval for a new single-dose 7.2 mg of Wegovy to treat adults with obesity, according to the UK regulator. Tesla (TSLA) shares were up 1.6% after UBS upgraded the company's stock to neutral from sell.On the losing side, CarMax (KMX) shares were down 6.2% after the company reported lower fiscal Q4 adjusted earnings and net sales. Dow (DOW) stock was 1.1% lower after the company named Chief Operating Officer Karen Carter as its chief executive officer, effective July 1.

$^DJI$^IXIC$^SPX$DOW$KMX$NVO$ORCL$TSLA

Asia Markets25d ago

Tadawul Shares Close Higher on US-Iran Conflict De-escalation Hopes

Saudi Exchange-traded shares closed Tuesday higher as the potential resumption of the talks between Iran and the US pushed the Tadawul All Share Index to 0.52% in the green.Sources said that the US and Iran are said to resume their discussions in Pakistan on ending the war, Reuters reported. The sources added that the talks in Islamabad might happen by the end of the week."Oil prices fell back below USD100/bbl overnight on the news that US and Iran might resume talks ahead of the end of the two-week ceasefire. Amid the additional US blockade of the Strait of Hormuz and an end to the Russian sanctions' waiver that allowed purchasing of oil from Russian tankers already at sea, the oil market seems optimistic that supply constraints will start to ease in the short term. The waiver that allowed purchasing of Iranian oil is set to expire on 19 April, but its significance is reduced due to the ongoing blockade in the Strait," Danske Bank said in a note.In other news, market watchers await the International Monetary Fund's latest world economic outlook report later in the day.Back at home, Academy of Learning Co. (SASE:9541) shares ticked up 0.58% as its Learning Private Schools Co. subsidiary entered a 30-year lease for an educational complex that will be used for private education services.Meanwhile, Saudi Aramco's (SASE:2222) Aramco Digital unit entered a project that will use industrial artificial intelligence of things group Cumulocity's platform to boost its fleet management operations in Saudi Arabia. Shares of the oil giant closed 0.87% lower.

$^TASI$SASE:2222$SASE:9541

Asia Markets25d ago

Emirati Equities Rebound as Hopes of New US-Iran Peace Talks Lift Sentiment

Shares in the United Arab Emirates were back in the green as prospects of peace talks resumption between the US and Iran lifted investor sentiment.At the close of Tuesday trading, the FTSE ADX General Index was up 0.556%, while the DFM General Index added 0.904%.Multiple media outlets reported that the US and Iran could return to Pakistan this week to hold a fresh round of talks after achieving no breakthrough in their previous negotiations. US President Donald Trump also said that Iran reached out to resume negotiations amid the US blockade of its ports."The fact that the two sides seem to be discussing the timeline, and apparently back-channel diplomacy has continued, we think a deal is possible but it will most likely require several rounds of talks, and meanwhile, the war could escalate," Danske Bank said in a note.Zooming in at home, the Central Bank of the UAE agreed to collaborate with Bangko Sentral ng Pilipinas to streamline cross-border payments, bolster bilateral trade, and establish infrastructure for finance and digital assets.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and ended 3.70% in the green. The real estate developer launched the first phase of the Yas Park Place residential community in Yas Island.Elsewhere, Parkin Co. (DFM:PARKIN) partnered with Binghatti Holding to integrate its advanced parking capabilities into a portfolio of 1,200 parking spaces across Binghatti developments in the Jumeriah Village Circle, Al Jaddaf, and Business Bay areas. The parking spaces operator's stocks closed the session 3.00% higher.

$^DFMGI$^FADGI$ADX:ALDAR$DFM:PARKIN

Asia Markets25d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were mixed in Monday's midday trading, with technology topping sector charts and helping lift the Nasdaq Composite.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 0.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.4%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) each added 1.1%.The State Street SPDR S&P Semiconductor (XSD) gained 2.2%, and iShares Semiconductor (SOXX) was up 0.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 2.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.8%.CommoditiesCrude oil rose 3.6%, and the United States Oil Fund (USO) advanced 4.1%. Natural gas fell 0.2%, and the United States Natural Gas Fund (UNG) dipped 0.9%.Gold on Comex lost 0.5%, and the State Street SPDR Gold Shares (GLD) fell 0.4%. Silver shed 1%, and iShares Silver Trust (SLV) dropped 1.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1.3%, and iShares Dow Jones US Consumer Goods (IYK) was 1.1% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.4%. VanEck Retail ETF (RTH) dropped 0.8%, while the State Street SPDR S&P Retail (XRT) added 0.3%.Health CareThe State Street Health Care Select Sector SPDR (XLV) eased 0.2%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) dropped. IShares Biotechnology ETF (IBB) rose 0.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also edged higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 1.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 1.4%, ProShares Ether ETF (EETH) slipped 1.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.6%.

Asia Markets25d ago

UK Shares Start Week Lower as US-Iran Talks Fail; Associated British Foods Falls

Britain's FTSE 100 closed 0.17% lower on Monday after the failed negotiations between the US and Iran in Pakistan, followed by renewed threats from US President Donald Trump to block "any and all ships" entering or leaving the Strait of Hormuz.In response to Trump's comment, Prime Minister Keir Starmer told BBC Radio 5 Live that the UK will not be involved in the US military's blockade of Iran, adding that the government's response is focused on getting the Strait of Hormuz reopened to lower energy prices "as quickly as possible."On the economic calendar, investors will evaluate the British Retail Consortium's retail sales monitor on Tuesday, and monthly gross domestic product, industrial production, and construction output data on Thursday. Economists from Deutsche Bank Research forecast the British economy to have grown 0.2% month over month in February, compared with the consensus estimate of a 0.1% uptick, supported by broad-based momentum across the services, production and construction sectors.In corporate news, Associated British Foods (ABF.L) fell 1.98%, taking a spot amongst the blue-chip index's worst performers, as RBC Capital Markets cut the food processing and retailing company's rating to underperform from sector perform and price target to 18.5 pounds sterling from 20.5 pounds."As part of our more cautious view on the European Retailing sector, we see further downside risk to consensus earnings forecasts, mainly due to pressure on ABF's largest business Primark," analysts said. "Although we think a demerger should make ABF more investable in the long run, we think ABF's valuation is full given more limited growth prospects over the next few years."Meanwhile, Vistry Group (VTY.L) named Adam Daniels as its chief executive officer to succeed Greg Fitzgerald, effective immediately. The homebuilder's shares declined 3.83% at close."On the one hand it is good news that Vistry has found and appointed a new CEO, taking away uncertainty around the appointment. However, the appointment appears a little rushed to us: the candidate (Adam Daniels) is internal, and the appointment sees Adam coming in and Greg Fitzgerald leaving with immediate effect. At the time of the FY2025 results in March it was announced Mr Fitzgerald would relinquish the role of chair at the AGM, and remain as CEO until a replacement had been found. We also believe that the market was looking for an external rather than an internal appointment. We expect the share price to be weak as it digests today's news," RBC said in a separate note.

$^FTSE$ABF.L$VTY.L

Asia Markets25d ago

German Stocks Down as US Moves to Block Iranian Ports

German equities kicked off a new trading week on a downbeat note, closing Monday's session 0.26% lower, as the US moved to seal the Strait of Hormuz after weekend peace talks ended without a deal."Markets have seen a clear risk-off move this morning after no deal was reached in the US-Iran talks over the weekend, with the US set to blockade the Strait of Hormuz for vessels entering or departing Iranian ports. So, despite last week's optimism when the two-week ceasefire was announced, the mood has shifted negatively once again, with Brent crude oil prices up +7.39% this morning to $102.24/bbl. And in turn, that's revived fears about a stagflationary shock, with equities and bonds losing ground around the world," Deutsche Bank Research said.With the Strait of Hormuz closure fueling a surge in energy costs, Bloomberg News reported that the European Commission is set to recommend reduced power grid fees and energy taxes, aiming to accelerate clean technology adoption while shielding the bloc's economy from volatile oil and gas prices. Citing people with knowledge of the matter, the news outlet said a formal policy paper outlining the relief measures is expected to be adopted by the European Union's executive arm on April 22.In economic news, investors are on the lookout for Tuesday's German wholesale price data and Thursday's final eurozone inflation reading for March. Market attention is also expected to shift to the ongoing International Monetary Fund and World Bank Spring meetings, with Tuesday's release of the IMF's World Economic Outlook anticipated to be a key focus.On the corporate side, Rheinmetall (RHM.F) and Norwegian defense technology company Destinus agreed to form a joint venture, Rheinmetall Destinus Strike Systems, focused on advanced missile production. The Unterlüß, Germany-based entity is expected to launch in the second half, pending regulatory approval, with the German defense supplier holding a 51% majority stake. Rheinmetall shares added 2.45% and the stock was the DAX's top gainer.Meanwhile, Deutsche Bank Research cut its price target for MTU Aero Engines' (MTX.F) buy-rated stock ahead of the company's first-quarter results due on April 30."We expect no impact from the Middle East conflict on Q1 activity, but some increased focus on MTU's sensitivity to potential engine retirements and its impact on midterm guidance. We lower our Price Target (PT) from EUR449 to EUR428 on more conservative cash conversion rates assumptions, moving 2030 levels down from 89% to 76%," the research firm said in a preview note. The German aircraft engine manufacturer was down 0.89% at closing.

$^DAX$MTX.F$RHM.F

Asia Markets25d ago

Swiss Stocks in Red After US-Iran Peace Talks Collapse; Burkhalter Gains

The Swiss Market Index welcomed the new trading week on a bleak note, closing 0.28% in the red on Monday, as the US prepares for a naval blockade of ships passing through the Strait of Hormuz after peace talks between the US and Iran collapsed over the weekend."That US-Iran peace talks failed to deliver a sustainable ceasefire should perhaps not come as a surprise. And while a US naval blockade will push oil higher, that is a better outcome for the global economy than a renewed assault on energy infrastructure in the region," analysts at ING said.Switzerland's economic calendar was empty for the day, while the release of the country's producer and import prices is on the agenda this week. Market watchers are also awaiting the International Monetary Fund's latest World Economic Outlook report.On the corporate front, Burkhalter (BRKN.SW) gained 3.20% as it reported a year-over-year increase in 2025 group profit to 61.3 million francs from 57.2 million francs, while EPS jumped 7.2% to 5.78 francs and sales up 1.8% to 1.21 billion francs. Looking forward, the Swiss building technology services provider expects EPS to "moderately" rise in 2026 compared with the previous year.Meanwhile, Deutsche Bank Research resumed its coverage of Holcim (HOLN.SW) with a buy rating and a price target of 85 francs, after a period of restriction as a result of the Swiss building materials company's purchase of a majority stake in Peruvian peer Cementos Pacasmayo. Holcim's stock was down 0.66% at closing."Holcim provides exposure to Europe (notably France and the UK), Latam (Mexico, Colombia, Peru) and AMEA (including Australia). CEO Miljan Gutovic has steered the group through an intense period of portfolio rotation: the spin-off of North American assets (Amrize), significant M&A (Xella and Cementos Pacasmayo in; Nigeria out) and ongoing geopolitical events," the research firm said in a note.

$^SSMI$BRKN.SW$HOLN.SW

Asia Markets25d ago

European Stocks Fall in Monday Trading After US-Iran Peace Talks Collapse

European stock markets fell in Monday trading following President Donald Trump's threat to block the Strait of Hormuz after US-Iran peace talks collapsed.The Stoxx Europe 600, Germany's DAX 40 and the FTSE 100 each lost 0.2%, France's CAC 40 fell 0.4%, and the Swiss Market Index declined 0.3%.With the prospect of a peace deal dimmed, defense stocks climbed. Dassault Systemes rose 3.6% and Thales gained 2.4% in Paris, while BAE Systems advanced 2.6% in London, and Rheinmetall added 2.5% in Frankfurt.In corporate news, TotalEnergies signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.Shares of the French oil and gas company rose 1.3% in Paris.Lloyds Banking Group is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.Shares of the British bank fell 0.4% in London.GSK said Sunday a phase I clinical trial for the mocertatug rezetecan antibody-drug conjugate showed that the monotherapy achieved a confirmed objective response rate of 62% in platinum-resistant ovarian cancer at the highest doses evaluated.The study also showed a response rate of 67% in recurrent or advanced endometrial cancer.Shares of the pharmaceutical company eased 0.3% in London.BP's Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from Eco Atlantic.Shares of BP gained 1% in London.

Asia Markets25d ago

European Equities Traded in the US as American Depositary Receipts Start Week on Flat Note in Monday Trading

European equities traded in the US as American depositary receipts began the week little changed late Monday morning, edging 0.02% higher to 1,822.16 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and telecommunications company Nokia (NOK), which advanced 26% and 9.3%, respectively. They were followed by furniture maker Natuzzi (NTZ) and biotech firm Evaxion (EVAX), which climbed 7.1% and 3.4%, respectively.The decliners from continental Europe were led by accommodations booking company trivago (TRVG) and brewing company Anheuser-Busch InBev (BUD), which dropped 3.3% and 1.2%, respectively. They were followed by pharmaceutical company Sanofi (SNY) and lender Banco Santander (SAN), which were off 0.9% and 0.8%, respectively.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Mereo BioPharma Group (MREO), which rose 7% and 4.8%, respectively. They were followed by biopharmaceutical companies NuCana (NCNA) and Bicycle Therapeutics (BCYC), which increased 4.1% and 2.4%, respectively.The decliners from the UK and Ireland were led by biotech company Trinity Biotech (TRIB) and cruise line operator Carnival (CUK), which fell 4.7% and 3.3%, respectively. They were followed by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and lender Barclays (BCS), which were down 2.2% and 0.9%, respectively.

$BCS$BCYC$BDRX$BUD$CLLS$CUK$EVAX$MREO$NCNA$NOK$NTZ$SAN$SLN$SNY$TRIB$TRVG

Asia Markets25d ago

Asian Equities Traded in the US as American Depositary Receipts Begin Week Lower

Asian equities traded in the US as American depositary receipts were lower Monday morning, declining 0.67% to 2,735.86 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by travel company Tuniu (TOUR), which climbed 6.4%. It was followed by online game developer The9 (NCTY) and semiconductor company ASE Technology (ASX), which advanced 5.3% and 5% respectively.The decliners from North Asia were led by brand platform 36Kr (KRKR) and lender CNFinance (CNF), which fell 6.4% and 4.5% respectively. They were followed by video display maker LG Display (LPL) and computer hardware maker Canaan (CAN), which were down 3.6% and 2.6% respectively.From South Asia, the gainers were led by lender ICICI Bank (IBN), which rose 1.1%, followed by IT firms Infosys (INFY) and Wipro (WIT), which were up 0.3% and 0.2% respectively.The decliners from South Asia were led by IT company Sify Technologies (SIFY) and lender HDFC Bank (HDB), which dropped 2.6% and 1.6% respectively. They were followed by tech conglomerate Sea (SE) and pharmaceutical firm Dr. Reddy's Laboratories (RDY), which lost 1.4% and 0.7% respectively.

$ASX$CAN$CNF$HDB$IBN$INFY$KRKR$LPL$NCTY$RDY$SE$SIFY$TOUR$WIT

Asia Markets26d ago

US Equity Futures Decline Pre-Bell as Trump Orders US Blockade of Strait of Hormuz After Talks With Iran Fail

US equity futures were lower pre-bell on Monday after President Donald Trump ordered a blockade of the Strait of Hormuz following the failure of US and Iran to reach an agreement in peace talks in Islamabad.Dow Jones Industrial Average futures were 1% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.6% lower."Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said in a post on Truth Social on Sunday.Trump said that an agreement was not reached due to Iran's unwillingness to give up its nuclear ambitions, while Iran said the US had made unreasonable demands.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 7.4% at $102.26 per barrel and US West Texas Intermediate crude 7.8% higher at $104.11 per barrel.Existing Home Sales, scheduled for release at 10 am ET, are seen declining 0.8% for March after an increase of 1.7% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was lower by 1.2% in Europe's early afternoon session.In equities, a number of energy firms saw stock gains as oil prices once again breached the $100 mark. Exxon Mobil (XOM) shares gained 1.6%, ConocoPhillips (COP) shares increased 2%, and Equinor (EQNR) stock rose 2.2%.On the losing side, Best Buy (BBY) stock fell 4.5% after the company's stock was downgraded by Goldman Sachs to sell from buy.

$^DJI$^IXIC$^SPX$BBY$COP$EQNR$XOM

Asia Markets26d ago

Tadawul Shares Close Higher as Saudi Arabia Restores Full Capacity of East-West Pipeline

The Tadawul Share Index closed Monday 0.99% higher as the full restoration of oil pumping capacity at Saudi Arabia's East-West pipeline overshadowed the gloom from the results of the US-Iran talks.The damage from attacks last week led to the loss of 700,000 barrels per day in pumping capacity, but the repairs brought the pipeline back to 7 million barrels per day. "This quick recovery reflects the high operational resilience and crisis management efficiency of Saudi Aramco (SASE:2222) and the Kingdom's energy ecosystem as a whole, thereby enhancing the reliability and continuity of supplies to local and global markets, and supporting the global economy," the Saudi Ministry of Energy said in a statement on X.Meanwhile, oil prices rose with news of the US plans to block the Strait of Hormuz. US President Donald Trump said in a Truth Social post that ships to and from the Strait will be potentially attacked."By announcing an impending blockade of the Strait, President Trump may be signaling that he is not prepared to cut his losses just yet. In pursuing this strategy, President Trump may be calculating that China will become more active in negotiations if it faces a cutoff of Iranian cargoes to its refineries," RBC Capital Markets said in a note. "Also, it may prove to be a far more challenging undertaking to blockade Iran than Venezuela, and we would anticipate Tehran will increase attacks on regional energy facilities, including critical derisking infrastructure, if President Trump backs his threat with action."Back at home and on the corporate front, Edarat Communication and Information Technology (SASE:9557) closed flat as its board proposed to repurchase shares, as well as boost its capital to 75.6 million Saudi riyals via bonus share issues.Looking ahead to the rest of the week, the local economic releases calendar's only entries are the March inflation print and wholesale price figures, both on Wednesday.

$^TASI$SASE:2222$SASE:9557

Asia Markets26d ago

UAE Shares Begin New Week Downbeat; Oil Prices Rise as US-Iran Talks Falter

Emirati stocks ended Monday's trading session in the red as failed negotiations between the US and Iran kept investors in a risk-off mode.At the close of trading, the FTSE ADX General Index fell 0.536%, while the DFM General Index lost 0.826%.Oil prices rose after the US and Iran failed to reach an agreement in Pakistan over the weekend. US President Donald Trump said in a social media post that the US Navy will commence the blockade of all tankers entering and exiting the Strait of Hormuz immediately."Oil markets rallied sharply on Monday after US-Iran talks collapsed over the weekend. ICE Brent jumped more than 9% in early trade, while NYMEX WTI pushed above $105/bbl. In response, the US military plans to implement a blockade of all maritime traffic entering and exiting Iranian ports from 10:00am Monday Washington time, while allowing vessels not calling at Iranian ports to continue transiting Hormuz. Despite this, two fuel tankers attempted to exit the Gulf via routes close to Iran's coastline, marking the first such movements since the blockade was announced," ING said.Back home, the Dubai Department of Economy and Tourism partnered with HSBC's unit HSBC Bank Middle East to offer tailored facilitation, licensing advice, and ecosystem navigation to the latter's institutional and private wealth clients looking to expand or establish financing and treasury operations in Dubai.Over to corporates, RAK Properties (ADX:RAKPROP) confirmed continuity of core operations and services amid uncertainty surrounding the situation in the Middle East. Shares of the property developer closed the session 1.41% lower.Meanwhile, in Dubai, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, launched a new customer center at its headquarters based in Al Jadaf, Dubai. The cooling services company's shares were flat at the close of trading.

$^DFMGI$^FADGI$ADX:RAKPROP$DFM:EMPOWER

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Asia Markets24d ago