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Wall Street Set to Open Lower in Wednesday Trading; Key Employment Data Falls Short of Forecasts

US stocks looked set to open lower on Wednesday as investors monitored developments in the Middle East and parsed weaker-than-expected key employment data.Dow Jones Industrial Average futures were off 0.4%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.8% lower.Oil prices were lower, with front-month global benchmarks Brent crude declining 1.49% to $71.86 a barrel, while West Texas Intermediate crude was down 1.09% to $68.74 a barrel.In other world markets, Japan's Nikkei rose 0.6%, Hong Kong's Hang Seng fell 0.6%, and China's Shanghai Composite increased 0.4%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was down 0.5%, Germany's DAX was off 0.1%, and France's CAC was off 0.8%.The ADP National Employment Report, which gauges the monthly change in non-farm, private employment, reported a 98,000 increase in June, well below expectations of a 120,000 rise, according to analysts compiled by Bloomberg.June's Manufacturing Purchasing Managers' Index, which tracks the activity level of purchasing managers in the manufacturing sector, will be released at 9:45 am ET. Analysts are expecting the index to remain unchanged at 55.7, according to Bloomberg. A reading above 50 indicates expansion, while a reading below 50 indicates contraction.At 10:30 am ET, the US Energy Information Administration will release crude oil inventories, which tracks the weekly change in the number of barrels of commercial crude oil held by US firms.In equities, shares of Token Cat (TC) soared 174%, more than offsetting Tuesday's 77% loss.Eshallgo (EHGO) was 95% higher after the company priced a registered direct offering with institutional investors for the sale of 750,000 Class A ordinary shares.Shares of Largo (LGO) were up 14% after the company said it won a contract from the US Defense Logistics Agency Strategic Materials to supply high-purity vanadium pentoxide.On the losing side shares of Shutterstock (SSTK) tumbled 30% after Getty Images (GETY) said its board unanimously decided to terminate the companies' merger agreement following a UK regulatory condition it deemed unacceptable.Concorde International Group (YOOV) stock was down 29%, following the previous session's 99% gain.Edible Garden (EDBL) stock was down 14% after the company signed into a non-binding letter of intent for a commercialization alliance with a partner in the sustainable food and agriculture sector.

Dow JonesNasdaq CompositeS&P 500$EDBL$EHGO$LGO$SSTK$TC$YOOV

Asia Markets38d ago

Tadawul Shares Rebound on US-Iran Deal Optimism

Saudi equities rebounded on Wednesday as optimism regarding the potential progress of the US-Iran talks pushed the Tadawul All Share Index 0.53% in the green.Iran and the US are holding technical talks in Qatar in hopes of further advancing their agreements on a permanent ceasefire, as well as the Strait of Hormuz's shipping flow, Reuters reported, citing sources."The oil market continues to take an optimistic view on a supply recovery from the Persian Gulf, despite recent flare-ups between the US and Iran. Indirect talks in Doha this week have reportedly been positive," ING said in a note. "In the natural gas market, QatarEnergy reportedly extended force majeure on some LNG shipments to Asia and Europe until August, and in some cases into early September. This suggests that the LNG market could see a more gradual recovery in supplies following the temporary peace deal between the US and Iran."The meeting in Doha saw US envoys Jared Kushner and Steve Witkoff engage with the Qatari and Pakistani mediators for the talks. Meanwhile, an Iranian official said that the discussions will also focus on the release of its frozen assets worth $6 billion.Back at home, data from the Saudi Central Bank showed that the country's May M3 money supply increased 8.9% year over year, following a 10% growth in the prior month. Meanwhile, private bank lending grew 6.6% in the reporting month, compared with the 7.2% rise in April.On the corporate front, Knowledge Tower Trading (SASE:9551) shares ticked down 4.41% as the educational books retailer logged a 75.3% drop in its attributable net profit and a 26.36% decline in its revenue for the 12 months ended March 31.

^TASISASE:9551

Asia Markets38d ago

Profit-Taking Dulls European Bourses Midday

European bourses tracked moderately lower midday Wednesday as traders booked profits, after broad equities indices struck record highs on Tuesday.Tech stocks bucked trends to rise on continental trading floors, while property, food and oil shares lagged.Investors also eyed muted Wall Street futures, and unevenly higher closes overnight on Asian exchanges.In economic news, euro area annual inflation is expected to log at 2.8% on year in June, down from 3.2% in May, said Eurostat.The case for another European Central Bank (ECB) interest rate increase is "receding," ECB Governing Council member Pierre Wunsch said, reported Econostream.The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session, slipping from an all-time zenith set on Tuesday.The Stoxx Europe 600 Technology Index was up 0.7%, but the Stoxx 600 Banks Index lost 0.3%.The Stoxx Europe 600 Oil and Gas Index eased 0.6%, while the Stoxx 600 Europe Food and Beverage Index declined 0.6%.The REITE, a European REIT index, fell 0.6%.On the national market indexes, Germany's DAX was up 0.3%, but the FTSE 100 in London lost 0.3%. The CAC 40 in Paris was down 0.6%, and Spain's IBEX 35 eased 0.7%.Yields on benchmark 10-year German bonds were higher, near 2.93%.Front-month North Sea Brent crude-oil futures were down 0.8% at $72.38 a barrel.The Euro Stoxx 50 volatility index was down 1.1% at 16.41, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Asia Markets38d ago

UAE Indices Diverge as US-Iran Hold Indirect Talks

Stocks in the United Arab Emirates struggled to find direction on Wednesday as markets await the outcome of indirect technical talks between the US and Iran taking place in Qatar.At the close of trading, the FTSE ADX General Index declined 0.16%, while the DFM General Index added 0.915%.US envoys Jared Kushner and Steve Witkoff met Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani on Tuesday to discuss the ongoing situation with Iran. Iran, however, said it will not meet the US delegates but is engaged with Qatari mediators.Oil prices dropped slightly as markets remained optimistic that both countries would work out a deal to reopen the Strait of Hormuz and that oil flows through the waterway could return to pre-war levels. Brent crude oil futures stood at nearly $72.383 per barrel as of 3:17 pm UAE time, down 0.78% from the previous day."Oil prices came under further pressure yesterday, leaving ICE Brent to close out its weakest quarter since 2020, dragged down by growing confidence that Persian Gulf crude flows are on the mend," ING analysts said. "The oil market continues to take an optimistic view on a supply recovery from the Persian Gulf, despite recent flare-ups between the US and Iran. Indirect talks in Doha this week have reportedly been positive."Zooming in at home, UAE President Sheikh Mohamed bin Zayed Al Nahyan met with his Chadian counterpart, Mahamat Idriss Déby Itno, to discuss their comprehensive economic partnership agreement and bolster their bilateral ties in the economy, trade, and renewable energy sectors.Over to corporates, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, agreed to buy a 50% stake in AG Group, an integrated business group based in Dubai. The building materials company's stocks closed the session 1.21% in the green.Emirates NBD (DFM:EMIRATESNBD) shares closed 1.56% higher as it signed a memorandum of understanding with Alba Cars to offer short-term automotive financing services to local dealers and partners.

^DFMGI^FADGIADX:BILDCODFM:EMIRATESNBD

Asia Markets38d ago

Catalyst Dearth Caps Wall Street Pre-Bell; Asia Up, Europe Off

Wall Street futures edged lower pre-bell Wednesday as traders reviewed Middle East turmoil, rich tech-sector valuations and awaited fresh catalysts.In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 0.4% and the Dow Jones was off 0.2%.Federal Reserve Chairman Kevin Warsh is slated to appear on policy panel at the European Central Bank's annual forum in Portugal, at 9 am ET.Asian exchanges traded unevenly higher overnight on tech strength, while European bourses tracked moderately lower midday on the continent.FMC (FMC) traded up 6.1% pre-bell after the agriculture and chemical concern said it has agreed to sell $400 million of stock at $13.30 a share to the Belgium-based Tessenderlo Group, giving it a 20% stake in FMC.General Mills (GIS) plans to report earnings pre-bell, among others.On the economic calendar is the weekly MBA mortgage applications bulletin at 7 am ET, followed by the ADP employment report for June at 8:15 am.The weekly jobless claims report logs at 8:30 am, followed by the final S&P Global manufacturing purchasing managers index (PMI) for June at 9:45 am.The ISM manufacturing index for June, and the construction spending bulletin for May, post at 10 am.The weekly EIA petroleum status report follows at 10:30 am.In pre-market action, bitcoin traded at $58,644, West Texas Intermediate crude oil traded down 1.1% at at $68.77 a barrel, and 10-year US Treasuries offered 4.46%. Spot gold commanded $3,992 an ounce.

Dow JonesNasdaq CompositeS&P 500

Asia Markets38d ago

Tech Gyrations, Persian Gulf View Roil Asian Stock Markets

Asian stock markets churned on Wednesday, as traders again weighed gyrating tech-sector values and Persian Gulf uncertainties.Shanghai and Tokyo finished in the green, while Hong Kong was closed on holiday. Other regional exchanges were choppy, including a 2% retreat on South Korea's KOSPI index.In Japan, the Nikkei 225 finished up 0.6% as traders backed AI- and semiconductor-related issues.The benchmark Nikkei 225 rose 412.64 to 70,474.96, although losing issues outnumbered gainers 127 to 95.Leading the upside was silicon wafer maker Sumco, up 11.4%, while Furukawa Electric declined 8%.In economic news, confidence among major Japanese manufacturers in June improved to the highest level in eight years, as demand for chips and AI-related gadgets offset risks posed by Persian Gulf turmoils, reported the Bank of Japan, citing its quarterly Tankan survey.The confidence sentiment index for large manufacturers rose to 22 in Q2, from 17 in Q1, said Japan's central bank.The confidence index for large non-manufacturers, including the service sector, logged at 37 for Q2, up from 36 in Q1, according to the Bank of Japan.On the mainland, the Shanghai Composite rose 0.4% to 4,112.45.In economic news, China's final manufacturing purchasing managers index (PMI) inched down to 51.7 in June from 51.8 in May, but still stuck above the 50-mark that separates growth from contraction, reported S&P Global.On the other regional exchanges, the Taiwan TWSE rose 1.9%; the Australian ASX 200 declined 0.6%; the Singapore Straits Times Index fell 0.2%, and the Thai Set declined 0.2%. In late trading in Mumbai, the Sensex was up 0.5%.In economic news, South Korean exports surged 70.9% on the year to a record monthly high of $102.25 billion in June, led by a surge in semiconductor shipments, reported the Ministry of Trade, Industry & Energy.The MSCI All Country Asia Pacific Index fell 0.1% on the day.

Hang SengNikkei 225Shanghai Composite

Asia Markets38d ago

Update: S&P 500, Nasdaq Composite Close Strongest Quarter in Six Years Amid Gains in Technology, Decline in Crude Oil

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose, with the S&P 500 and the Nasdaq Composite clocking the biggest quarterly advances since Q2 2020 amid semiconductor-led gains in technology and declining crude oil prices.The Nasdaq Composite jumped 1.5% to 26,213.72, and the S&P 500 rose 0.8% to 7,499.36 on Tuesday, June 30. The Dow Jones Industrial Average advanced 0.3% to 52,319.20, capping the strongest first half in five years.Technology was the standout gainer at the close, followed by industrials. Real estate, consumer staples, and utilities led the decliners. Technology is also the top sector over the past three months, according to data compiled by Finviz.Of the top 20 stocks with a market capitalization of more than $200 billion, 17 were from the tech sector, according to data compiled by Finviz. Within those tech names, the majority were either semiconductors or semiconductor equipment and materials. The top gainer was SanDisk (SNDK), trading up 11%.In geopolitical news, US envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner are in Doha for meetings with Qatari mediators, according to CNN. Technical talks are ongoing, but there are currently no high-level meetings between the US and Iran, CNN reported, citing Qatar's Foreign Ministry spokesperson.Iran's Parliament Speaker Ghalibaf said the country will not begin negotiations for a final agreement before the implementation of clauses 1, 4, 5, 10, and 11 of the memorandum of understanding signed with the US earlier this month, Al Jazeera reported. These clauses involve cessation of hostilities in Lebanon, removal of the US naval blockade, safe passage of commercial vessels, waivers for the export of Iranian crude oil, and the release of frozen Iranian funds.The front-month global benchmark North Sea Brent slipped 0.3% to $72.92 per barrel, and the US West Texas Intermediate fell 1% to $70.07 per barrel. Both crude types traded above $110 a barrel at the height of the US-Iran war.Most US Treasury yields rose, with the 10-year jumping 7.3 basis points to 4.45%. The two-year rate climbed 4.9 basis points to 4.16%.Gold futures edged 0.2%% lower to $4,031.7, while silver futures dropped 2.3% to $59.52.In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg-compiled survey.In company news, Air Products and Chemicals (APD) said it is finalizing an agreement for renewable ammonia from a green hydrogen project in Saudi Arabia. Shares of Air Products jumped 8%, among the top gainers on the S&P 500.Pacira Biosciences (PCRX) has agreed to sell its Iovera cold-therapy pain relief system to Zimmer Biomet (ZBH) for up to $140 million. Zimmer shares dropped 5.6%, among the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$APD$PCRX$SNDK

Asia Markets38d ago

Update: US Equity Indexes Rise as Semiconductors Lift Technology; Crude Oil Slips as Trump's Envoys in Qatar for Indirect Talks

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose, with the S&P 500 and the Nasdaq Composite set to clock the biggest quarterly gains since Q2 of 2020 amid semiconductor-led gains in technology.The Nasdaq Composite jumped 1.3% to 26,154.1, and the S&P 500 rose 0.7% to 7,490.7 after midday Tuesday. The Dow Jones Industrial Average advanced 0.3% to 52,348.4, heading for the strongest first half in five years.Technology was the standout gainer intraday, followed by industrials. Real estate, consumer staples, and healthcare led the decliners.Of the top 20 stocks with a market capitalization of more than $200 billion, 17 were from the tech sector, according to data compiled by Finviz. Within those tech names, the majority were either semiconductors or semiconductor equipment and materials. The top gainer was Advanced Micro Devices (AMD), trading up 7.7%.Bernstein adjusted the price target for SanDisk (SNDK) shares to $3,000 from $1,700 while maintaining its outperform rating. Shares of SanDisk were up 7.6%, one of the S&P 500 and Nasdaq's top gainers.In geopolitical news, US envoy for the Middle East Steve Witkoff and President Donald Trump's son-in-law Jared Kushner are in Doha to meet Qatari mediators, CNN reported Tuesday, citing Qatar's Foreign Ministry spokesperson. The US duo will not meet with Iranian officials, the report said.The mediators are working as go-betweens for US-Iran talks, which won't include any high-level officials, Qatar's Foreign Ministry spokesman Majed al-Ansari said, according to an Associated Press report.The front-month global benchmark North Sea Brent slipped 1.1% to $73.12 per barrel, and the US West Texas Intermediate fell 1.3% to $69.84 per barrel.Most US Treasury yields rose, with the 10-year up 3.6 basis points to 4.41%. The two-year rate climbed 2.2 basis points to 4.13%.Gold futures edged up 0.1%% to $4,040.5, and silver futures jumped 2.7% to $59.77.In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg-compiled survey.In company news, Air Products and Chemicals (APD) said Tuesday it will not proceed with the Louisiana Clean Energy Project because the expected financial returns do not meet stringent return criteria. The company also said it's finalizing a marketing and distribution agreement with Yara International for renewable ammonia from a green hydrogen project in Saudi Arabia. Shares of Air Products jumped more than 8%, the top gainer on the S&P 500.Pacira Biosciences (PCRX) has agreed to sell its Iovera cold-therapy pain relief system to Zimmer Biomet (ZBH) for up to $140 million. Zimmer shares dropped 7.4%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$AMD$APD$PCRX$SNDK$ZBH

Asia Markets38d ago

Exchange-Traded Funds Point Higher as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) rose 1.6%.US equity indexes rose amid semiconductor-led gains in technology and a decline in crude oil after midday Tuesday.EnergyIShares US Energy ETF (IYE) dropped 0.1% and the State Street Energy Select Sector SPDR (XLE) fell 0.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 2.3%; iShares US Technology ETF (IYW) rose 2.1%, and iShares Expanded Tech Sector ETF (IGM) was up 1.8%.The State Street SPDR S&P Semiconductor (XSD) gained 4.1%, and iShares Semiconductor (SOXX) was up 3.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell fractionally. Direxion Daily Financial Bull 3X Shares (FAS) was down less than 0.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 0.1%.CommoditiesCrude oil slipped 1.2%, and the United States Oil Fund (USO) fell 1%. Natural gas climbed 4.5%, and the United States Natural Gas Fund (UNG) was up 4.7%.Gold on Comex rose 0.1%, and the State Street SPDR Gold Shares (GLD) added 0.3%. Silver was up 2.5%, and iShares Silver Trust (SLV) was 2.5% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1.1%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.9%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.3%. VanEck Retail ETF (RTH) rose fractionally, and the State Street SPDR S&P Retail (XRT) eased 0.7%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 1%, iShares US Healthcare (IYH) dipped 1%, and Vanguard Health Care ETF (VHT) was down 0.8%. IShares Biotechnology ETF (IBB) gained 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.1%, ProShares Ether ETF (EETH) was down 3.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 4% lower.

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

Asia Markets39d ago

European Stocks Close Mixed in Tuesday Trading; UK GDP Rises 0.6% in Q1

The European stock markets closed mixed in Tuesday trading as the Stoxx Europe rose 0.9%, Germany's DAX surged 1.4%, the FTSE 100 gained 0.1%, France's CAC declined 0.4%, and the Swiss Market Index fell 0.1%.In the UK, real gross domestic product grew 0.6% in Q1 and was 0.9% higher than a year earlier, according to the Office for National Statistics."Monthly data suggest some loss of momentum, with real GDP decreasing by 0.1% in April 2026," the ONS said in its economic commentary. "This indicates some moderation at the start of Q2."And in corporate news, Equinor and Var Energi have agreed to exchange natural gas assets on the Norwegian continental shelf, Equinor said Tuesday.Under the swap, Equinor will transfer 32.5% of its interest in, and operatorship of, the Peon natural gas discovery to Var Energi in exchange for interests in producing assets and development licenses, including a 5% share in the Fram field, and positions in the Grosbeak and Mulder discoveries, it said.Shares of the Norwegian petroleum refiner increased 0.8% in Oslo.HSBC is in discussions to sell its Turkish unit to Emirates NBD, Bloomberg News reported Tuesday, citing people familiar with the matter.The negotiations are at an early phase, and a final agreement may not be achieved, the news outlet quoted the people as saying.HSBC and Emirates NBD did not immediately respond to' requests for comment.Shares of HSBC gained 0.7% in London.Ferrari and BMW are launching new vehicles that use aluminum wiring, signaling their shift away from copper, Reuters reported Tuesday.The report said companies are switching to aluminum due to its lower price and comparable performance, while copper prices have increased driven by shortages and increased demand.Ferrari and BMW did not respond to' requests for comment.Shares of Ferrari lost 0.5% in Milan, while shares of BMW were little changed in Frankfurt.Lloyds Banking Group is planning to increase its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported Tuesday, citing internal company documents and a source familiar with the matter.Documents showed that Lloyds aims to win bigger corporate institutional customers as part of its pension push, Bloomberg said.Lloyds Banking Group declined' request for a comment.Shares of the British lender rose 2.5% in London.Barclays has acquired a long-term leasehold interest in its global headquarters at One Churchill Place in London's Canary Wharf from CWG at a value of 750 million UK pounds ($992.6 million), the companies said Tuesday.The deal secures Barclays' control over its 1-million-square-foot global headquarters beyond the current lease term, which runs to 2039, and provides greater certainty over long-term costs, the companies said.Shares of Barclays increased 0.6% in London.

Asia Markets39d ago

UK Shares Close Higher Amid Q1 Economic Expansion

London's FTSE 100 closed 0.25% in the green on Tuesday, the last day of the second quarter, as investors examined the latest economic growth data.Growth in the UK's quarterly gross domestic product was confirmed at 0.6% for the first quarter, higher than the revised 0.1% uptick in the prior three-month period, final data from the Office for National Statistics showed. Annually, the British economy expanded 0.9% in the quarter, consistent with the revised growth earlier and against the preliminary reading of a 1.1% jump.Meanwhile, British shop price inflation stood at 1.2% year over year in June, matching May's reading and market expectations, according to the British Retail Consortium."While a competitive market is keeping inflation in check for now, retailers face mounting cost pressures, including higher National Insurance, the triple packaging tax and higher input costs from extreme weather and geopolitical tensions," BRC Chief Executive Helen Dickinson said, adding that easing taxes and levies on energy bills would alleviate pressure on retailers.In corporate news, shares of J Sainsbury (SBRY.L), d/b/a Sainsbury's, rose 1.11% after the grocer reported a 2.7% increase in fiscal first-quarter retail sales and maintained its fiscal 2027 guidance for underlying operating profit of 975 million pounds sterling to 1.08 billion pounds."Sainsbury's has released a Q1 trading update this morning with Group Retail sales growth a little ahead of consensus expectations, driven by slightly better than expected Grocery sales and a resilient performance at Argos, against a tough comparable," RBC Capital Markets said. "We are encouraged by SBRY's efforts to improve the range and the digital experience at Argos, which we think is helping to drive volume growth."Aerospace and defense company Babcock International Group (BAB.L) climbed 2.74% to join the top FTSE 100 gainers as Deutsche Bank Research lowered its price target to 11 pounds from 11.4 pounds, with a hold rating.The analysts highlighted the UK Ministry of Defence's confirmation that it plans to procure at least six Common Combat Vessels to replace the Royal Navy's Type 45 destroyers. "These plans replace earlier plans for a Type 83 destroyer (and also the Type 32 per other press speculation today). The statement notes the following - 'Rather than concentrating capability in a small number of large, expensive ships, the Royal Navy's shift to a hybrid navy will mix crewed and uncrewed capabilities and be more suited to the pace and nature of modern warfare.'"

FTSE 100$BAB.L$SBRY.L

Asia Markets39d ago

Swiss Market Index Ends Lower; Lonza Shares Up

Swiss stocks were in negative territory on Tuesday, with the Swiss Market Index down 0.21%, as investors assessed the latest economic data prints across key markets.Switzerland's KOF Economic Barometer climbed to 101.2 points in June from the revised 98.6 points in May, mainly reflecting positive developments in the production side indicators. "After remaining below its medium-term average in the previous months, it now rises slightly above its average. The outlook for the Swiss economy improves noticeably," the KOF Swiss Economic Institute said.On the geopolitical front, the Swiss Federal Council plans to amend regulations to streamline the recognition of US standards for medical devices, passenger cars, conformity assessment bodies and government procurement as it continues with negotiations to secure a legally binding trade deal with the US."The implementation of these measures is in keeping with the objectives agreed in the joint statement and consistent with the Federal Council's negotiating mandate for the talks with the United States. At the same time, the Federal Council expects the United States to honour its commitments under the joint statement," the Swiss government noted.Meanwhile, the council will put four proposals to a vote on Nov. 29, including one related to an amendment to the Federal Act on War Matériel.Over to corporates, Lonza Group (LONN.SW) plans to boost the payload-linker manufacturing capacity at its Visp facility in Switzerland, expanding the commercial-scale production of highly complex and highly potent active pharmaceutical ingredients and antibody-drug conjugate payload-linkers. The additional manufacturing capacity is expected to be operational in 2028. At closing, the contract development and manufacturing organization's shares were up 1.15%.The US Food and Drug Administration accepted Roche's (RO.SW) supplemental biologics license application for its Enspryng drug for treating thyroid eye disease. The FDA also granted the drug priority review status. The Swiss drugmaker expects the regulator to decide on the approval by Oct. 15. The stock was 1.45% in the red at the end of the trading session.

^SSMI$LONN.SW$RO.SW

Asia Markets39d ago

DAX Index Rises as German Inflation Eases

Local equities gained on the last trading day of June, with the blue-chip DAX index up 1.43% at Tuesday's closing, as the market assessed Germany's latest inflation figures and awaited updates on the anticipated US-Iran talks in Qatar.Preliminary data from Destatis showed German annual inflation eased to 2.3% in June, against the previous and expected 2.6%. The core annual inflation rate, which excludes food and energy prices, remained unchanged at 2.5%."Looking ahead, as today marks the last day of the government's tax rebate on fuel, inflation should accelerate again next month, even if global energy prices have come down. Beyond the fiscal stimulus reversal, we still expect some knock-on effects from higher energy prices on transportation costs, food prices and other industrial products over the coming months," ING said.On the jobs front, the federal agency Bundesagentur für Arbeit reported that Germany's unemployment rate remained at 6.3% in June, as expected. The number of unemployed individuals in the country declined by 1,000, compared with the 12,000 drop earlier.On the corporate side, Siemens Energy (ENR.F) rose to the top of the DAX, climbing 5.68%, as BofA Global Research increased its earnings assumptions for the German energy technology company and raised the price objective on the buy-rated stock to 260 euros from 250 euros."We expect ENR to report a solid Q3. Our group order [estimate] is 'only' +4% vs cons (BofAe EUR17.6bn vs cons EUR17.0bn) but we see double-digit upside in Gas (EUR9.0bn vs EUR7.4bn) and Grid (EUR6.0bn vs EUR5.4bn), offset by Gamesa weakness given no offshore orders (EUR1.2bn vs EUR3.0bn); we would expect investors to focus on the Gas & Grid strength," BofA wrote.Meanwhile, the Federal Financial Supervisory Authority, or Bafin, concluded its audit of Mutares' (MUX.F) full-year 2023 financial statements with zero objections. The private equity company noted that a single missing disclosure regarding the remaining term of certain receivables was already corrected in subsequent filings.Separately, Mutares' portfolio company Amaneos finalized the acquisition of automotive supplier Magna's European automotive lighting business through its subsidiary, Light Mobility Solution. Mutares was up 0.37% on Xetra.

^DAX$ENR.F$MUX.F

Asia Markets39d ago

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

European equities traded in the US as American depositary receipts were heading higher late Tuesday morning, rising 0.7% to 1,919.96 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by 3D printer company Materialise (MTLS) and biopharmaceutical company Cellectis (CLLS), which rose 3.4% and 2% respectively. They were followed by telecommunications company Nokia (NOK) and petroleum refiner Equinor (EQNR), which were up 1.5% and 1% respectively.The decliners from continental Europe were led by furniture maker Natuzzi (NTZ) and consumer goods company Unilever (UL), which dropped 2.1% and 1.5% respectively. They were followed by pharmaceutical company Sanofi (SNY) and semiconductor company Sequans Communications (SQNS), which lost 1.3% each.The gainers from the UK were led by biopharmaceutical company Bicycle Therapeutics (BCYC) and lender Lloyds Banking Group (LYG), which advanced 3% and 2.2% respectively. They were followed by software firm Endava (DAVA) and educational publisher Pearson (PSO), which increased 2% and 1.4% respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and medical device maker Smith & Nephew (SNN), which fell 5.4% each, and 3.5% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which were down 3.8% and 3.5% respectively.

$BCYC$BDRX$CLLS$DAVA$EQNR$LYG$MTLS$NOK$NTZ$PSO$SNN$SNY$SQNS$TRIB$UL$VOD

Asia Markets39d ago

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

Asian equities traded in the US as American depositary receipts were trending higher Tuesday morning, rising 0.76% to 2,855.11 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by education company 51Talk Online Education Group (COE) and semiconductor company ASE Technology (ASX), which climbed 15% and 4.2% respectively. They were followed by fintech firm High Templar Tech (HTT) and streaming video service iQIYI (IQ), which increased 3.7% and 3% respectively.The decliners from North Asia were led by utilities company Korea Electric Power (KEP) and video display maker LG Display (LPL), which fell 3.4% and 3.2% respectively. They were followed by online marketplace Autohome (ATHM) and fintech firm Qfin (QFIN), which were down 2% and 1.7% respectively.From South Asia, the lone gainer was IT firm Sify Technologies (SIFY), which rose 0.3%.The decliners from South Asia were led by fintech company Trident Digital Tech (TDTH) and computer hardware maker Canaan (CAN), which dropped 7.7% and 4.2% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and IT firm Infosys (INFY), which lost 2.5% and 2.3% respectively.

$ASX$ATHM$CAN$COE$HTT$INFY$IQ$KEP$LPL$QFIN$SIFY$TDTH$TLK

Asia Markets39d ago

Wall Street Set to Open Marginally Lower in Tuesday Trading; Investors Continue to Monitor Middle East Conflict, Await Key Labor Data

US stocks look set to open marginally lower in Tuesday's trading session as investors continue to monitor flare ups in Middle East fighting and potential peace negotiations, while looking ahead to key labor data set for release later in the morning.The Dow Jones Industrial Average futures was off 0.1%, while S&P 500 futures and Nasdaq futures were down nearly 0.1% each.Oil prices were moving modestly higher, with front-month global benchmarks Brent crude rising 0.1% to $73.18 a barrel, while West Texas Intermediate crude was up 0.2% to $70.93 a barrel.In other world markets, Japan's Nikkei rose 0.9%, Hong Kong's Hang Seng declined 0.6%, and China's Shanghai Composite was up 0.5%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was up 0.9%, Germany's DAX increased 1.4%, and France's CAC was dropping 0.6%.In equities, shares of ABIVAX Societe Anonyme (ABVX) soared 36% pre-bell after the biotech firm reported positive phase 3 topline data Tuesday for obefazimod to treat ulcerative colitis.AeroVironment (AVAV) shares surged 28% after the company reported better-than-expected fiscal Q4 adjusted earnings and revenue.AEVEX's (AVEX) stock advanced 9% after it said Tuesday that it has received a $50 million US Air Force contract to continue expanding unmanned mission support capabilities for current operations.On the losing side, shares of Concentrix (CNXC) tumbled 24% after it reported fiscal Q2 non-GAAP net income late Monday of $2.63 per diluted share, down from $2.70 a year earlier.Shares of Vishay Intertechnology (VSH) fell 10% after it priced an underwritten public offering late Monday of 15 million common shares at $50 apiece for expected gross proceeds of about $750 million.Patrick Industries' (PATK) stock shed close to 9% after it and LCI Industries (LCII) agreed to merge in an all-stock transaction, the companies said Tuesday.

Dow JonesNasdaq CompositeS&P 500$ABVX$AVAV$AVEX$CNXC$LCII$PATK$VSH

Asia Markets39d ago

Abu Dhabi, Dubai Stocks Fall Amid US-Iran Talks Uncertainty

Stock trading in the United Arab Emirates ended in the red again as uncertainty over potential talks between the US and Iran weighed on sentiment.At the close of Tuesday trading, the FTSE ADX General Index was down 0.359%, while the DFM General Index lost 0.63%.US President Donald Trump said in a social media post on Monday that a meeting with Iran will take place in Doha on Tuesday at the latter's request, conflicting with Iranian Foreign Ministry spokesperson Esmaeil Baghaei's same-day statement that no talks were planned with the US in the coming days."The price action in recent weeks reflects a market that is treating this temporary ceasefire between the US and Iran as a permanent deal. This is clearly not the case, and as we have seen over the last four months, the situation can change very quickly," ING said. "It took long enough to agree on a temporary ceasefire. Reaching a permanent deal which tackles the nuclear issue within 60 days would be very optimistic."Back home, the UAE and Ukraine's comprehensive economic partnership agreement will become effective on Wednesday. The deal focuses on new trade and investment opportunities, the elimination and reduction of certain tariffs, and enhancing private sector collaboration between the two countries.Amid a quiet day on the corporate side, Sagasse Investment Co. (ADX:SAGA) returned to trading on the Abu Dhabi bourse following a temporary suspension due to its annual general meeting. Shares of the investment company closed the session flat.Shares of Dubai Residential REIT (DFM:DUBAIRESI) ended the session 0.79% in the red. The pure-play real estate investment trust purchased 220 townhouses at Jebel Ali Village residential community in Dubai at a forward purchase price of 894 million Emirati dirham.

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Asia Markets39d ago

Tech Advance, Middle East Calm Boost European Bourses Midday

European bourses tracked higher midday Tuesday as tech issues again showed strength, and as Persian Gulf turmoil somewhat abated.Bank and oil stocks also led gains on continental trading floors, while food shares lagged.Additionally, investors eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges.Expanded measures to protect the European Union's steel industry will become effective Wednesday, the European Commission announced. The duty-free import quota for 26 categories of steel products will be decreased by an average of 47%, to 18.3 million tons per year, while out-of-quota imports will be subject to a 50% tariff, advised the commission.The pan-continental Stoxx Europe 600 Index was up 1.1% mid-session.The Stoxx Europe 600 Technology Index was up 1.6%, and the Stoxx 600 Banks Index gained 1.1%.The Stoxx Europe 600 Oil and Gas Index rose 1.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, rose 0.2%.On the national market indexes, Germany's DAX was up 1.5%, and the FTSE 100 in London gained 1.2%. The CAC 40 in Paris was down 0.6%, and Spain's IBEX 35 lifted 0.7%.Yields on benchmark 10-year German bonds were steady, near 2.89%.Front-month North Sea Brent crude-oil futures were down 0.2% at $73.80 a barrel.The Euro Stoxx 50 volatility index was down 1.9% at 16.90, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Asia Markets39d ago

Tech, Persian Gulf Outlooks Undergird Wall Street Pre-bell; Asia, Europe Up

Wall Street futures pointed modestly higher pre-bell Tuesday as both tech values, and a Persian Gulf ceasefire, appeared to hold.In the futures, the S&P 500 rose 0.1%, and the Nasdaq inclined 0.2%.The Dow Jones was 0.1% higher after striking an all-time record zenith on Monday, while Russell 2000 futures edged up 0.1%, also after notching an index historical high on Monday.Investors await the Job Openings and Labor Turnover Survey, aka JOLTS, for May at 10 am ET in Washington, one indicator of national labor market trends and tightness.Asian exchanges traded mostly higher overnight on the tech-sector revival, while European bourses tracked solidly north midday on the continent.AeroVironment (AVAV) traded up 25.3% pre-bell, after the defense contractor reported strong fiscal Q4 earnings, and "unprecedented demand" for its unmanned aerial systems and loitering targeting aircraft.Nike (NKE) plans to report earnings after-bell, among others.On the economic calendar, in addition to the JOLTS report, is the Case-Shiller Home Price Index, and the FHFA House Price Index, both for April and both 9 am ET.The Chicago PMI for June logs at 9:45 am, and the Conference Board consumer confidence report posts at 10 am.Federal Reserve Cleveland President Beth Hammack is slated to speak Tuesday.In premarket action, Bitcoin traded at $59,277, West Texas Intermediate crude oil traded evenly near $70.82 a barrel, and 10-year US Treasuries offered 4.37%. Spot gold commanded $4,028 an ounce.

Dow JonesNasdaq CompositeS&P 500

Asia Markets39d ago

Tech Rebound Lifts Asian Stock Markets

Asian stock markets largely gained on Tuesday, following strong overnight rallies on Wall Street and a rebounding tech sector.Shanghai and Tokyo finished in the green, although Hong Kong fell back. Other regional exchanges were similarly mixed.In Japan, the Nikkei 225 opened higher on New York cues and held ground, finishing up 0.9% as traders again waded back into AI- and semiconductor-related shares.The benchmark Nikkei 225 rose 594.21 to 70,062.32, although losing issues outnumbered gainers 121 to 103.Leading the upside was advanced materials maker Taiyo Yuden, up 8.3%, while IT conglomerate NEC declined 3%.In economic news, Japan's industrial production in May rose 0.5% from April, but was down 1.7% on the year, reported the Ministry of Economy, Trade and Industry.In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 0.6% despite a firming tech sector.The broad gauge Hang Seng fell 145.66 to 22,881,02 as losing issues outnumbered gainers 78 to 15. The Hang Seng TECH Index gained 1.8% on the day, but the Mainland Properties Index fell 1%.Leading the upside was computer maker Lenovo, gaining 8.2%, while Nongfu Spring declined 8.4%.On the mainland, the Shanghai Composite rose 0.5% to 4094.40.In economic news, mainland China's manufacturing purchasing managers index logged at 50.3 in June from 50.0 in May, and striking modestly above the mark that separates growth from contraction, reported the National Bureau of Statistics.The nation's non-manufacturing PMI posted at 50.2 in June, up from 50.1 in May.On the other regional exchanges, the South Korean KOSPI rose 1%; the Taiwan TWSE gained 2.5%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index fell 0.7%, and the Thai Set advanced 0.9%. In late trading in Mumbai, the Sensex was down 0.3%The MSCI All Country Asia Pacific Index rose 0.7% on the day.

Hang SengNikkei 225Shanghai Composite

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Asia Markets38d ago

Update: S&P 500, Nasdaq Composite Close Strongest Quarter in Six Years Amid Gains in Technology, Decline in Crude Oil

Dow JonesNasdaq CompositeS&P 500$APD$PCRX$SNDK