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Exchange-Traded Funds, US Equities Mixed After Midday

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

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

Asia Markets47d ago

Swiss Equities Kick Off Week in Green; Idorsia Shares Up

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

^SSMI$IDIA.SW$LONN.SW

Asia Markets47d ago

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

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

FTSE 100$BAB.L$WTB.L

Asia Markets47d ago

German Shares Climb as US-Iran Peace Talks Advance

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

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

Asia Markets47d ago

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

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

Asia Markets47d ago

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

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

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

Asia Markets47d ago

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

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

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

Asia Markets47d ago

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

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

^TASISASE:2280SASE:9624

Asia Markets47d ago

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

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

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

Asia Markets47d ago

Emirati Shares Begin New Week Upbeat; US-Iran Peace Talks Progress

United Arab Emirates stocks closed higher on the first trading day of the week, buoyed by progress in peace talks and easing tensions between the US and Iran.At the close of Monday trading, the FTSE ADX General Index was up 0.189%, while the DFM General Index added 0.324%.The US and Iran concluded their first round of talks mediated by Pakistan and Qatar in Switzerland. Both countries agreed to a 60-day roadmap towards reaching a final deal, the establishment of a direct communication line to safeguard commercial vessels passing through the Strait of Hormuz, and a mechanism to end military operations in Lebanon."While the market is pricing a reopening of the Strait, risks remain to oil supply related to the negotiations. If the negotiations around nuclear materials and operations are unsuccessful, there is no guarantee that the Strait will remain open. Further conflict in Lebanon between Israel and Hezbollah could also derail the negotiations," Berenberg said.Back at home, Abu Dhabi Registration Authority logged a 21% year-over-year growth in new economic licenses in the first quarter despite the ongoing regional developments in the Middle East.On the corporate front, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, closed the session 0.57% in the red. The building materials company appointed Woods Bagot as the lead master planning consultant for its sustainable urban development project in Abu Dhabi.On the other hand, pure-play real estate investment trust Dubai Residential REIT (DFM:DUBAIRESI) secured inclusion in the FTSE EPRA Nareit Emerging Index following a recent review by FTSE Russell. Its shares ended the session unchanged.

^DFMGI^FADGIADX:BILDCODFM:DUBAIRESI

Asia Markets47d ago

US Equity Investors to Watch Out for Micron Technology's Earnings, PCE Inflation, Iran Peace Talks This Week

US equity investors will focus this week on quarterly earnings from Micron Technology (MU) and inflation, while keeping a close eye on progress in talks between Iran and the US.* Earnings due this week include Micron Technology (MU), FedEx (FDX), Cerebras Systems (CBRS), Carnival (CCL), Trip.com (TCOM), Darden Restaurants (DRI), and Paychex (PAYX).* Looking ahead to Q2, consensus estimates call for earnings growth of more than 22%, according to a note from DA Davidson late Thursday. All of the S&P 500 constituents have reported Q1 results. Earnings surged almost 29% year-over-year, versus nearly 13% expected as of March 31, the strongest growth since Q4 2021. Information technology and communication services led the growth. Health Care was the only sector to see earnings fall in Q1.* Macroeconomic data due this week includes personal consumption expenditures, or PCE, price index, final read on Q1 gross domestic product, ADP employment change, S&P global composite PMI, durable goods orders, and Michigan consumer sentiment final, as well as inflation expectations.* "We used to think [PCE] was the Federal Reserve's favourite inflation gauge but now we're less sure given the arrival of a new Chair [Kevin Warsh] who launched five taskforces this past week including one to look at different measures of inflation," a Scotiabank note said late Thursday.* The US and Iran agreed to create a "de-confliction cell," facilitated by Qatar and Pakistan to ensure the end of military operations in Lebanon, CNN cited mediators in a news report early Monday. Fighting between Israel and Iran-backed Hezbollah has been a key obstacle to a deal, with Tehran insisting that deadly Israeli strikes must stop.* Iran's foreign minister, Abbas Araghchi, said sanctions on Tehran's oil were waived and some of its frozen assets released, CNN reported. Araghchi was also cited as saying a "reconstruction and development plan" was launched.

Dow JonesNasdaq CompositeS&P 500$CBRS$CCL$DRI$FDX$MU$PAYX$TCOM

Asia Markets47d ago

Singapore Shares in Green as US-Iran Continue with Peace Negotiations

Singapore shares closed higher on Monday, with investor sentiment given a boost as dialogue between the US and Iran for lasting peace continued.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,204.01 and 5,174.30 throughout the day. It ended the session at 5,204.01, up 11.31 points or 0.2% compared to Friday's close.On the corporate front, shares of Asiatic Group (SGX:5CR) plunged over 25% as it agreed to dispose of a 49% stake in Colben Energy (Cambodia) to the chairman of its joint venture partner, Royal Group Phnom Penh, for $3.1 million.MetaOptics (SGX:9MT) closed nearly 2% as it received a revised listing and quotation notice from the SGX-ST for up to 121.3 million new shares to support its proposed listing on the Nasdaq exchange via American Depository Shares.Meanwhile, shares of Frasers Logistics & Commercial Trust (SGX:BUOU) were down nearly 2% at the close as it signed two five-year property management agreements.

^STISGX:5CRSGX:9MTSGX:BUOU

Asia Markets48d ago

Tadawul Shares Start Week Lower; Saudi's Operating Revenues Index Ticks Up in April

Saudi Exchange-traded shares closed Sunday lower as Iran's announcement regarding the reclosure of the Strait of Hormuz pushed the Tadawul All Share Index 0.40% in the red.The command center of Iran's Armed Forces disclosed that the operations of the Iranian and Omani coasts along the Strait will be closed again. The move was due to the US allegedly breaching its memorandum of understanding to end the war.The statement comes as US Vice President JD Vance and Iranian Foreign Ministry spokesperson Esmail Baghaei met in Switzerland to iron out more details for the peace deal.Back at home, preliminary data demonstrated that the kingdom's operating revenue and employee compensation indices in April rose 10.6% and 10.1% year over year, respectively. Additionally, issued building permits surged annually by 28.2% to 7,356 in the reporting month from 5,740 a year ago."On a monthly basis, the Operating Revenues Index decreased by 3.8%, affected by a 19.1% decrease in manufacturing and mining and quarrying activities, a 1.5% decline in wholesale and retail trade and repair of motor vehicles activities, a 2.5% decline in financial and insurance activities, and decreases of 1.5% and 4.9% in information and communication activities and transportation and storage activities, respectively," the General Authority for Statistics said in its report.On the corporate front, Alkhorayef Water and Power Technologies (SASE:2081) entered into 60-month contracts to clean the stormwater and surface water networks of the sub-municipalities of the Jeddah Amana Municipality in Saudi Arabia. Shares of the water and wastewater management company closed 0.42% lower.

^TASISASE:2081

Asia Markets50d ago

UK Shares Fall Amid Uncertainty Over US-Iran Truce

British equities wrapped up the week in the red, with London's FTSE 100 down 0.41%, as investors assessed fresh economic data and monitored developments in the Middle East.Data from market research company Growth from Knowledge showed Britain's consumer confidence indicator at -23 points in June, unchanged from the previous month. The indicator defied analysts' expectations for a dip to -24 points.Meanwhile, the latest retail sales figures from the UK's Office for National Statistics painted a picture of recovery, with monthly retail sales in May up 1.2%, rebounding from a revised 1% decline in April and exceeding forecasts of a 0.5% increase. Year over year, retail sales in the UK rose 3.2% in May.Separate ONS data showed UK public sector net borrowing, excluding public sector banks, increased to 23.29 billion pounds sterling in May from 23.03 billion pounds earlier."Spending on debt interest, public services, investment and benefits all increased in May 2026, compared with last May, more than outweighing higher tax receipts," ONS Senior Statistician Tom Davies said.Geopolitical developments also remained in focus after planned US-Iran talks in Switzerland were postponed, casting uncertainty over the timing of further negotiations aimed at easing tensions in the Middle East. Switzerland said it remains willing to facilitate future discussions.On the corporate front, Entain (ENT.L) is reportedly considering options for its Central and Eastern Europe joint venture, including a potential sale of its majority stake to partner EMMA Capital. According to Reuters, proceeds from a deal could be used to reduce the betting and gaming company's debt. Entain wrapped up the week 1.23% lower.

FTSE 100$ENT.L

Asia Markets50d ago

Swiss Market Index Closes Week Little Changed; US-Iran Talks Postponed

Swiss stocks concluded the trading week little changed amid a quiet day of economic news locally and light trading volumes due to a US holiday.The Swiss Market Index was up 0.06% at the end of Friday's trading session.On the geopolitical front, the planned talks between the US and Iran set to take place today in Switzerland regarding the implementation of the recently signed memorandum of understanding were postponed "for the time being," the Swiss Federal Department of Foreign Affairs said in a release without specifying any reasons for the cancellation. Preparations for the talks at the Bürgenstock, however, were continuing.The postponement comes as Israel launched airstrikes in Lebanon, Reuters and other media outlets reported.In corporate news, Holcim (HOLN.SW) completed its purchase of Germany-headquartered walling systems company Xella as part of its growth strategy, with the acquisition expected to be accretive to the Swiss building materials company's EPS and cash flow from the first year. Holcim's shares closed the session 0.67% lower.Berenberg raised its price target for Eli Lilly (LLY.SW) to $1,135 from $1,050, with an unchanged hold rating on the stock, taking into account higher expectations for the Switzerland-listed pharmaceutical company's injectable obesity franchise."Eli Lilly delivered excellent P3 efficacy and safety data for retatrutide (tri-agonist) at the ADA conference; we raise our forecasts accordingly. Meanwhile, the launch ramp of Foundayo (oral GLP-1) remains slow, in sharp contrast with that of Novo's Wegovy pill. Our Foundayo forecasts are below consensus," the research firm said. "In H2, we expect additional P3 retatrutide and Foundayo obesity co-morbidity data, P2 tirzepatide plus eloralintide obesity combination data and P3 remternetug data in Alzheimer's disease."

^SSMI$HOLN.SW$LLY.SW

Asia Markets50d ago

Blue-chip DAX Index Ends Flat; German Producer Prices Rise

The blue-chip DAX index ended the last trading session of the week flat, as investors digested fresh producer price data alongside a new US trade probe launched against Germany's pharmaceutical sector.Destatis reported that annual producer prices rose 2.2% in May, compared with a 1.7% gain earlier and the market forecast of a 2.5% jump. Monthly producer prices were 0.3% higher, missing the expected 0.7% uptick. The German Federal Statistical Office attributed the year-over-year increase to higher costs of intermediate goods and energy prices.On the trade front, the US government launched an investigation aimed at determining whether pharmaceutical pricing policies in Germany pose "unreasonable or discriminatory" barriers to American commerce. According to US Trade Representative Jamieson Greer's office, the investigation came after "months of meaningful discussions" with German partners to settle the matter."I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals. This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development," Greer said.Meanwhile, geopolitical uncertainty resurfaced after the Swiss Federal Department of Foreign Affairs confirmed that the scheduled peace talks between the US, Iran, Qatar and Pakistan were postponed. The delay threatens to cloud the outlook for the recently signed temporary agreement.In corporate news, Commerzbank (CBK.F) pushed back against UniCredit's claim of support for its takeover bid, arguing that the disclosed 12.51% acceptance rate was largely driven by banks and parties linked to the Italian lender. Commerzbank toldthat acceptance among institutional and retail investors was "just slightly above 1%." The German bank gained 0.70% at Friday's close.AlphaValue/Baader Europe cut its full-year 2026 and 2027 EPS estimates for Mercedes-Benz Group (MBG.F) by 15.2% and 20.7%, respectively, to 4.72 euros and 5.75 euros, flagging a "significantly" lower 2026 passenger car registration forecast from the China Passenger Car Association."This deterioration in the market outlook leads us to expect a weaker-than-previously-anticipated performance in China for Mercedes. In addition, BMW [BMW.F] recently highlighted increasing competitive pressure across the broader Asia-Pacific region, most likely as Chinese [original equipment manufacturers] continue to increase exports to these regions, further exacerbating pricing pressure, a headwind that we also expect to affect Mercedes. Consequently, the risk of a profit warning appears to be increasing," the research firm wrote. Mercedes-Benz gained 0.85%, while BMW climbed 0.57%.

^DAX$BMW.F$CBK.F$MBG.F

Asia Markets50d ago

UAE Stocks Snap Winning Streak as US-Iran Defer Peace Talks

Emirati Equities ended a three-day winning streak on the last day of a shortened trading week, which saw the release of the US Federal Reserve interest rate decision and the signing of an interim deal between the US and Iran.At the close of Friday trading, the FTSE ADX General Index fell 0.956%, while the DFM General Index lost 1.691%.The Swiss Federal Department of Foreign Affairs said Friday that the planned peace talks between the US and Iran on the same day have been postponed, injecting fresh uncertainty into the recently signed initial peace deal.Also weighing on sentiment were Israel's airstrikes in southern Lebanon that resulted in at least 18 casualties, as reported by various media outlets. The end to hostilities on all fronts, including Lebanon, was a key demand from Iran for any peace agreement."Ongoing Israeli strikes in southern Lebanon, which have continued post-deal signing, pose perhaps the greatest near-term threat to the deal, as officials in Tehran insist that they represent a clear violation of the MoU. Hence, while the deal is not necessarily dead on arrival, there appear to be real risks to its staying power," RBC Capital Markets said in a note.Zooming in at home, Dubai Chambers discussed and explored initiatives to boost trade and investment between Dubai and Toronto during its meetings with Canadian economic and investment institutions, including Toronto Global, the Ontario Chamber of Commerce, and the Toronto Region Board of Trade.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and closed 1.78% lower. The real estate manager and investor launched the new Orchids at Yas Acres residential community on Yas Island in Abu Dhabi.Elsewhere, Amanat Holdings (DFM:AMANAT) assumed full ownership of Cambridge Health Group after purchasing the remaining 10.03% stake it did not own in the group. Shares of the healthcare and education investment company closed the session 0.78% in the green.

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Asia Markets50d ago

Update: US Equity Indexes Rise as Washington Lifts Blockade of Iran's Ports, Deal Sets Up Hormuz Chokepoint for Reopening

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose after a peace deal signed by President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, led to Washington lifting its blockade of Tehran's ports on Thursday and as mega-cap semiconductor names rallied.The Nasdaq Composite advanced 1.9% to 26,517.93, with the S&P 500 up 1.1% to 7,500.58 and the Dow Jones Industrial Average higher by 0.1% to 51,564.70 on Thursday.Technology led the gainers, followed by consumer discretionary and communication services. Energy led the decliners.The US on Thursday lifted its blockade of Iran, and oil tankers began freely moving through the Strait of Hormuz after months of being unable to use the critical channel, as the tentative agreement to end the war took effect, according to the Associated Press. US Vice President JD Vance said that the 60-day negotiating period between Tehran and Washington began on Thursday, Al Jazeera reported.Iran's Supreme National Security Council says that the Persian Gulf Strait Authority has been charged with issuing permits as fast as possible for commercial vessels wishing to transit the Strait of Hormuz, the Al Jazeera report said.Front-month global benchmark North Sea Brent shed 0.3% to $79.34 per barrel, and the US West Texas Intermediate climbed 0.3% to $76.55 per barrel. Both the WTI and Brent traded more than 2% lower earlier in the session.The US expects "a complete ceasefire on all fronts", including Lebanon, Hezbollah, and Israel, Al Jazeera cited US President Donald Trump as saying. "We encourage everyone in the Middle East Region to maintain their commitment to allowing our negotiations to beautifully unfold.""You can't just kill your way out of solving every single national security problem that you have," Al Jazeera cited Vance as saying in reference to Israel.In company news, Intel (INTC) shares surged 11% to among the leaders on the S&P 500 and the Nasdaq, after Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Shares of Marvell jumped 7.3%, among the top gainers on the Nasdaq.In economic news, US initial jobless claims fell to 226,000 in the week ended June 13 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.In precious metals, gold futures slumped 3.3% to $4,238.30, while silver futures plummeted 6.7% to $66.51 as investors priced in higher interest rates this year.On Wednesday, the Federal Reserve unanimously left its benchmark rate unchanged in the 3.50% to 3.75% range, while excluding language that suggested a lingering bias toward cuts. The probability of US interest rates rising to the 4% to 4.25% target range soared to 33% as of Thursday afternoon from 14% a week ago, implying the market doubled its outlook for two rate increases of 25 basis points each by the end of 2026, according to the CME FedWatch tool.US Treasury yields traded mixed, with the 10-year down less than one basis point to 4.45%, while the two-year rose 1.6 basis points to $4.18%.

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Asia Markets50d ago

US Equity Indexes Rise This Week as Signing of Iran Peace Deal Lays Groundwork for Hormuz Chokepoint Reopening

US equity indexes rose this week as the interim Iran peace agreement set the stage for reopening the Strait of Hormuz, outweighing the Federal Reserve's hawkish tone at the June policy meeting.* The S&P 500 closed at 7,500.58 on Thursday versus 7,431.46 a week ago. The Nasdaq Composite stood at about 26,517.93, compared with 25,888.84 a week earlier. The Dow Jones Industrial Average ended at 51,564.70, versus 51,202.26 at the end of last week.* President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, digitally signed a memorandum of understanding targeting a permanent deal to end the war between the US and Iran.* "The traffic of commercial vessels will immediately start and, considering the need for removing the technical and military obstacles and de-mining by the Islamic Republic of Iran, will be instated within 30 days," Reuters cited from the MoU.* West Texas Intermediate crude oil traded at $73.81 late Thursday, heading for pre-Iran war levels ahead of the reopening of the Persian Gulf chokepoint for about a fifth of global crude oil flows.* The US 10-year Treasury yield traded at 4.43% late Thursday, after touching 4.66% in May, as slumping oil prices alleviated inflation concerns.* The Fed kept policy steady to mark its fourth consecutive pause, but ejected the so-called lingering easing bias from its policy statement.* "While Chair [Kevin] Warsh was unwilling to indicate the direction of the Fed funds rate ahead, nine of his 18 colleagues had no such reservations and pencilled in a hike to 3.75-4.00% by year-end in the dot plot," Berenberg said in a note. "That was a big change from the previous iteration in March, in which 12 out of 19 were expected to cut this year.* "This, alongside Warsh's defence of his Fed's commitment to the 2% inflation half of the Fed's mandate, led investors to price in 38bp of tightening this year, up from 21bp previously," the Berenberg note said. "A hike is now fully priced in by October."

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Asia Markets51d ago

Exchange-Traded Funds, US Equities Higher After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher after midday Thursday. Actively traded Invesco QQQ Trust (QQQ) was up 2.4%.US equity indexes rose amid a rally in mega-cap semiconductors and as crude oil extended declines to the lowest in more than three months after a signing of the interim Iran peace deal set the stage for an immediate reopening of the Strait of Hormuz.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each fell 2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) and iShares US Technology ETF (IYW) rose 2.9% each, while iShares Expanded Tech Sector ETF (IGM) was up 2.8%.The State Street SPDR S&P Semiconductor (XSD) increased and iShares Semiconductor (SOXX) were up 6.4% each.FinancialThe State Street Financial Select Sector SPDR (XLF) dropped 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) shed 1.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 2%.CommoditiesCrude oil decreased 2.1%, and the United States Oil Fund (USO) fell 1.3%. Natural gas gained 2.5%, and the United States Natural Gas Fund (UNG) was 1.3% higher.Gold on Comex lost 3.3%, and the State Street SPDR Gold Shares (GLD) also dropped 0.2%. Silver declined 6.5%, and iShares Silver Trust (SLV) was down 1.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was down 0.2%. The Vanguard Consumer Staples ETF (VDC) fell 0.2% and iShares Dow Jones US Consumer Goods (IYK) was down 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 1.6%. VanEck Retail ETF (RTH) was 0.9% higher, and the State Street SPDR S&P Retail (XRT) moved up 2.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.9%, iShares US Healthcare (IYH) decreased 0.7%, and Vanguard Health Care ETF (VHT) slipped 0.7%. IShares Biotechnology ETF (IBB) dropped 0.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 1.1%. Vanguard Industrials Index Fund (VIS) gained 1.3%, while iShares US Industrials (IYJ) rose 0.6%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was down 2.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) declined 2.7%, ProShares Ether ETF (EETH) fell 3.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.8% lower.

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Asia Markets50d ago

Update: US Equity Indexes Rise as Washington Lifts Blockade of Iran's Ports, Deal Sets Up Hormuz Chokepoint for Reopening

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