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European Stocks Close Mixed Monday Trading; Strait of Hormuz to Reopen Under US, Iran Peace Deal

The European stock markets closed mixed in Monday trading, despite the announcement of a peace deal between the US and Iran that includes the reopening of the Strait of Hormuz this week.The Stoxx Europe advanced 0.2%, Germany's DAX climbed 1%, the FTSE 100 fell 0.5%, France's CAC gained 0.5%, and the Swiss Market Index edged 0.1% lower.And in corporate news, the European Commission said Monday it has approved a joint venture between TotalEnergies and Masdar focused on renewable energy projects in the Asia-Pacific region.The Commission said the transaction does not raise competition concerns because its impact on the European Economic Area is expected to be limited.Shares of the French oil and gas company fell close to 5% in Paris.Shell's Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported Monday, citing people familiar with the matter.An agreement for the unit could be signed in the coming weeks, according to the report. Shell is seeking a valuation of around $1.8 billion for the unit, but terms could change, Bloomberg cited the sources as saying.Shares of the British oil and gas major lost 4.4% in London.Equinor said Monday it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area.The discoveries at Tonjer and Geitungen are estimated at 20-30 million barrels of oil equivalent and will be developed through a subsea tieback to existing infrastructure at Norway's largest oil-producing field, it said.Shares of the Norwegian petroleum refiner dropped 6.5% in Oslo.Deutsche Bank and JPMorgan Chase will participate in Singapore's planned gold-clearing system, media outlets reported Monday.The over-the-counter clearing mechanism, to be established by the Singapore Exchange by the end of 2026, is expected to support interbank gold trading during Asian hours beginning next year, according to the reports. Singapore is also planning to introduce central bank gold vaulting services by October and expand tax exemptions for eligible funds and family offices in physical precious metals, the reports said.Shares of Deutsche Bank gained 4% in Frankfurt.HSBC said all of its digital banking services in Hong Kong had resumed normal operations before 2 p.m. local time after some customers encountered issues accessing the bank's mobile app earlier in the day, Reuters reported Monday.The lender said it resolved the issue and apologized for the disruption after some customers experienced difficulties accessing certain services, according to the report.Meanwhile, HSBC is also undergoing a potential sale of its Singapore insurance division, with Allianz emerging as the top bidder, Bloomberg News reported Sunday, citing unnamed people familiar with the matter and a HSBC spokesperson.HSBC did not immediately respond to' requests for comment.Shares of HSBC increased 0.6% in London.

Asia Markets54d ago

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

European equities traded in the US as American depositary receipts started the week significantly higher late Monday morning, climbing 1.83% to 2,900.33 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and semiconductor company Sequans Communications (SQNS), which rose 11% and 6.7% respectively. They were followed by internet browser company Opera (OPRA) and lender Banco Santander (SAN), which were up 3.3% and 2.7% respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 5.6% and 4.3% respectively. They were followed by medical device maker EDAP TMS (FOCL) and pharmaceutical company Sanofi (SNY), which were down 1.4% and 0.6%.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which advanced 3.7% and 3% respectively. They were followed by biopharmaceutical companies Mereo BioPharma Group (MREO) and Biodexa Pharmaceuticals (BDRX), which increased 2.7% and 2.3% respectively.The decliners from the UK and Ireland were led by oil and gas companies Shell (SHEL) and BP (BP), which fell 4% and 3.3% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which lost 2.9% and 1.3% respectively.

$AKTX$BDRX$BP$E$EQNR$FOCL$MREO$OPRA$SAN$SHEL$SLN$SNY$SQNS$TRIB$TRVG$VOD

Asia Markets54d ago

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

Asian equities traded in the US as American depositary receipts kicked off the week sharply higher Monday morning, rising 1.60% to 2,893.65 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by Korea Electric Power (KEP) and travel company Tuniu (TOUR), which rose 7.8% and 6.8% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and internet and data center services provider VNET Group (VNET), which were up 5.5% and 5.4% respectively.The decliners from North Asia were led by mobile app developer Cheetah Mobile (CMCM) and diagnostic imaging centers firm Concord Medical Services (CCM), which fell 2.8% and 2.0% respectively.From South Asia, the gainers were led by Canaan (CAN) and tech conglomerate Sea (SE), which rose 11% and 5.4% respectively. They were followed by telecommunications operator PLDT (PHI) and IT firm Sify Technologies (SIFY), which advanced 4.4% and 4.2% respectively.

$CAN$CCM$CMCM$HIMX$KEP$PHI$SE$SIFY$TOUR$VNET

Asia Markets54d ago

Update: US-Iran Peace Deal Announcement Lifts US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as the US and Iran finally reached a long-awaited agreement to end the war, with President Donald Trump saying the Strait of Hormuz would reopen on Friday.Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were up 1.2%, and Nasdaq futures were 2.1% higher.Iran's Supreme National Security Council had confirmed on Sunday that a memorandum of understanding had been finalized, with military operations on all fronts set to cease immediately."With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!" Trump said in a post on Truth Social.Shares of Space Exploration Technologies (SPCX), known as SpaceX, rose 5.3% in premarket activity after the company ended Friday with a market capitalization of more than $2 trillion in a record-setting initial public offering. Shares rose as much as 29% on Friday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.9% at $83.03 per barrel and US West Texas Intermediate crude 5.6% lower at $80.16 per barrel.Investors also look forward to the Federal Reserve's rate decision, scheduled for Wednesday. Markets expect no rate moves by the central bank.The New York Federal Reserve's Empire State manufacturing index dropped to 5.7 in June from 19.6 in May, compared with expectations of a decrease to a reading of 13.5 in a survey compiled by Bloomberg.The May industrial production report, due at 9:15 am ET, is forecast to show a 0.3% gain following a 0.7% increase in the prior month. The June US housing market index, slated for 10 am ET, is expected at 37, unchanged from the prior month.In other world markets, Japan's Nikkei closed 5% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 1.6% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 1.4% higher in Europe's early afternoon session.In equities, Nvidia (NVDA) shares rose 1.4% after media reports that AI startup Firebird, which is supported by Nvidia, has signed a deal worth up to $10 billion with Kazakhstan to build data centers in the Central Asian country. Amazon (AMZN) stock was up 2.1% after the company said it has completed the issuance of approximately 13.97 billion Canadian dollars ($9.99 billion) in aggregate notes across multiple maturities as part of a registered debt offering. Advanced Micro Devices (AMD) shares were up 3.8% after Citi upgraded the stock to buy from neutral and raised its price target to $575 from $460.On the losing side, ExxonMobil (XOM), Chevron (CVX), and Shell (SHEL) saw their stocks drop after oil prices plunged on the announcement of the Middle East peace agreement. ExxonMobil shares fell 3.3%, Chevron stock was down 3%, and Shell shares were down 3.9%.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CVX$NVDA$SHEL$SPCX$XOM

Asia Markets54d ago

Tadawul Shares End Monday Subdued; Saudi Arabia's Inflation Ticks Up in May

The Tadawul All Share Index closed Monday trading muted at 0.08% in the red as investors assessed Saudi Arabia's latest economic releases and the updates on the US-Iran conflict.Dominating headlines all around the world is the preliminary pact that the US and Iran agreed to sign in Switzerland on Friday. The deal would reopen the Strait of Hormuz, as well as stop "military operations on all fronts, including in Lebanon", among other terms."Oil prices slumped on Monday, with NYMEX WTI around $80/bbl and Brent tumbling to around $84/bbl, after the US announced an interim deal with Iran and potential resumption of oil flows through the Strait of Hormuz from Friday, alongside the removal of the US naval blockade on Iranian shipments," ING said. "Still, restarting infrastructure and logistics flows could take time, while some shipping operators may remain cautious about returning to the Strait in the near term. Meanwhile, inventories and strategic stockpiles will need to be rebuilt after recent disruptions, which should keep prices supported even as flows gradually resume."Back at home, the kingdom's annual inflation rate rose year over year to 1.8% in May from 1.7% in the prior month. On a monthly basis, the index saw a consistent growth of 0.2%.Saudi Arabia's wholesale prices had a 4.6% growth in May. Meanwhile, the country's producer price index data showed a 9.1% year-over-year rise in April. Month over month, the index saw a 3.3% increase.On the corporate front, Malath Cooperative Insurance (SASE:8020) shares declined 0.94% at closing as it secured a one-year deal to organize, support, and deliver integrated insurance services for the National Housing Services Co.'s process of issuing work insurance products for latent defects policies.

^TASISASE:8020

Asia Markets54d ago

US Equity Investors to Watch Out for Fed Chair Kevin Warsh's Inflation Views, Details of Iran Peace Deal This Week

US equity investors will focus this week on Kevin Warsh's inflation assessment at his first rate-setting meeting as the chair of the Federal Reserve, and details of the framework agreement that Washington and Tehran announced over the weekend to end the Iran war.* Wednesday's summary statement will be accompanied by the Fed's Summary of Economic Projections, followed by Warsh's press conference, a Scotiabank note said late Friday. No rate changes are expected, according to the CME FedWatch tool.* Will Warsh seek to tweak 'Inflation is elevated'?, the note said, referring to current language in the Fed policy statement and President Donald Trump's calls to lower interest rates in the final leg of Jerome Powell's chairmanship.* "The [Federal Open Market] Committee would have to agree, but his argument in favour of trimmed mean PCE could invite a modification," the note said, drawing attention to a different gauge that may become the Fed's preferred to assess inflation.* Iran confirmed a deal with the US to end fighting on all fronts, Al Jazeera reported Monday. Trump ended Washington's blockade of Iranian ports and said the Strait of Hormuz will reopen on Friday when a pact is signed in Switzerland, the news report said. The deal comes ahead of the upcoming Group of Seven meeting in France that Trump is attending.* Iran said its nuclear program will be the subject of talks after the deal is signed, Reuters reported. Israel said it will not withdraw from Lebanese territory it has seized and will retaliate if Iran attacks it due to events in Lebanon, the news report added.* Early Monday, West Texas Intermediate crude oil futures were down 5.6% to $80.11 barrel, the US 10-year Treasury yield dropped four basis points to 4.45%, and gold futures jumped 2.8% to $4,359.01 per ounce.* Quarterly earnings due this week include Accenture (ACN), Kroger (KR), and Jabil (JBL).

Dow JonesNasdaq CompositeS&P 500$ACN$JBL$KR

Asia Markets55d ago

Tadawul Shares Start Week Higher on US-Iran Peace Deal Hopes

Saudi Exchange-traded closed Sunday upbeat as the prospects of a US and Iran peace deal pushed the Tadawul All Share Index 0.57% firmly in the green.Investors are patiently waiting for updates regarding the signing of an interim deal that would end the conflict between the US and Iran. US President Donald Trump signaled that the memorandum of understanding would be signed on Sunday.However, Iranian Foreign Ministry spokesperson Esmaeil Baghaei stated that the peace framework will be signed "in the coming days." An undisclosed senior Iranian official said that the final draft of its deal reportedly includes the reopening of the Strait of Hormuz, oil sanction waivers, releasing frozen Iranian assets, as well as other nuclear clauses.Looking ahead to the week, the local economic calendar will mostly be empty except for the release of Saudi Arabia's inflation print for May on Monday. Market watchers will also look out for the Federal Reserve's interest rate decision and economic projections on Wednesday."In terms of Wednesday's FOMC meeting, we expect the Fed to leave monetary policy unchanged, but we do expect a statement that puts greater emphasis on the possibility of an interest rate rise," ING said in a note. "In the press conference, he will likely acknowledge that economic conditions do not justify rate cuts at this time. Nonetheless, he could reiterate his view that, in time, tech investment will boost US productivity, meaning faster growth without generating inflation. That would imply a lower neutral interest rate that justifies lower policy rates over the medium to longer term."Back at home and on the corporate front, Saudi Pharmaceutical Industries and Medical Appliances (SASE:2070), d/b/a Spimaco, shares ticked up 3.58% at closing as it agreed to boost its stake in Arabian Medical Products Manufacturing, or Enayah, to 63% for 45 million Saudi riyals.

^TASISASE:2070

Asia Markets57d ago

US Stocks Gain This Week on Iran Deal Progress, Softer Rate Expectations

US equity indexes rose this week as Iran signaled that peace-deal terms with the US are in their final review, inflation data eased rate-increase expectations, and SpaceX (SPCX) shares jumped in their market debut.* The S&P 500 closed at 7,431.46 on Friday, up from 7,383.74 a week earlier. The Nasdaq Composite rose to 25,888.84, from 25,709.53, and the Dow Jones Industrial Average advanced to 51,202.26 from 50,866.78.* Iran is in the final stages of internal deliberations on a peace agreement with the US, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Friday, according to CNN. "Understanding has been reached on the majority of issues," he said.* US core producer prices rose less than expected in May from both April and a year earlier. Core consumer prices also came in softer than forecast on a monthly basis, while the annual reading matched expectations.* FedWatch data late Friday showed a 43% probability of a 25-basis-point rate increase in December, little changed from a week earlier. Odds for a September increase fell to 26% from 34%, and October odds dropped to 33% from 40%, indicating reduced expectations for additional increases in H2.* Markets see a near-certain chance the Fed will hold rates steady in June and a 92% probability of no change in July.* Space Exploration Technologies shares opened at $150 on Friday, topping the initial public offering price of $135. The stock closed up 19%.

Dow JonesNasdaq CompositeS&P 500$SPCX

Asia Markets57d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 0.7%.US equity indexes traded mixed amid conflicting reports on the terms of a draft deal between Iran and Washington to end the war in the Middle East and Space Exploration Technologies (SPCX) making history with its stock market debut.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose 1.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) climbed up 1.1%; iShares US Technology ETF (IYW) rose 0.9%, and iShares Expanded Tech Sector ETF (IGM) was up 1%.The State Street SPDR S&P Semiconductor (XSD) advanced 2.1%, and iShares Semiconductor (SOXX) was 2.3% higher.FinancialThe State Street Financial Select Sector SPDR (XLF) added 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 3.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 3.3%.CommoditiesCrude oil shed 3.6%, and the United States Oil Fund (USO) fell 2%. Natural gas rose 1.3%, and the United States Natural Gas Fund (UNG) was up 1.5%.Gold on Comex gained 2.9%, and the State Street SPDR Gold Shares (GLD) rose 0.3%. Silver advanced 6.1%, and iShares Silver Trust (SLV) was up 0.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.2%. The Vanguard Consumer Staples ETF (VDC) added less than 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was fractionally lower. VanEck Retail ETF (RTH) was 0.3% lower, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) dipped 0.1%, iShares US Healthcare (IYH) fell 0.1%, and Vanguard Health Care ETF (VHT) rose fractionally. IShares Biotechnology ETF (IBB) climbed up 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.8%. Vanguard Industrials Index Fund (VIS) gained 0.7%, while iShares US Industrials (IYJ) rose 0.8%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was up 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.8%, ProShares Ether ETF (EETH) fell 0.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.3% 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 Markets57d ago

European Stocks Close Higher; German Inflation Cools, UK GDP Contracts

European stock markets closed higher Friday as the Stoxx Europe 600 climbed 1.9%, Germany's DAX 40 and France's CAC 40 each rose 1.8%, the FTSE 100 increased 1.6%, and the Swiss Market Index gained 1.3%.US President Donald Trump announced Thursday that the U.S. and Iran may come to terms this weekend on an agreement to wind down their three-month-old war, the Associated Press reported.Germany's annual inflation rate, measured by the consumer price index, eased to 2.6% in May from 2.9% in April, Destatis reported.The inflation rate "was somewhat lower than in the previous months," Destatis President Ruth Brand said in a statement. "Energy prices remained at a high level as a result of the Iran war."In the UK, monthly real GDP contracted an estimated 0.1% in April after rising 0.3% in March, according to the Office for National Statistics. That marked the first monthly contraction since August. Services output fell by 0.2%, production was flat, and construction rose 0.1%.In corporate news, Barclays agreed to acquire the UK operations of GoHenry, a youth-focused money management education platform, from Acorns Grow.Shares of Barclays gained 5% in London.Shell plans to begin selling its offshore wind farms for more than $1 billion by year-end as it prioritizes its fossil-fuel business, Bloomberg reported. Separately, Shell suspended its $3 billion share buyback program through July 14 due to securities-law requirements tied to a shareholder circular from ARC Resources.Shares of Shell fell 2% in London.GSK's momelotinib received orphan drug designation from both the US Food and Drug Administration and the European Medicines Agency for the treatment of VEXAS syndrome.Shares of the British pharmaceutical company increased 1% in London.Dassault Aviation is seeking compensation from Airbus over reduced work share on the Eurodrone program following France's decision to shelve purchases of the drone system, Reuters reported late Thursday.

Asia Markets57d ago

Swiss Stocks Close Week Higher; Burckhardt Compression Gains

The Swiss Market Index ended the trading week in positive territory, closing 1.32% higher on Friday, as investors assessed fresh economic data prints while closely monitoring the geopolitical tensions in the Middle East.The US and Iran are reportedly close to signing a memorandum of understanding in Geneva this weekend to end the war in the Middle East, according to multiple media outlets including Reuters and The Guardian. However, Iran's official Islamic Republic News Agency warned against media speculation over a potential deal, noting that Tehran would not cede control of the Strait of Hormuz."Trump has said many times before that a deal is very close, only for hostilities to resume. However, there does appear to be more positive noise around the deal this time, not just from the US but also from other parties involved in the negotiations. Obviously, the key is the message coming out of Tehran. And for now, it has been very quiet," analysts at ING said. "Therefore, we would be cautious about assuming that the extension of the ceasefire is a done deal. Even if it is, it could be fragile. And clearly, if nuclear talks do not progress, it could very easily fall apart."Back home, the Swiss Federal Council approved the adoption of a joint declaration regarding a partnership between Switzerland and Vietnam aimed at bolstering and formalizing the two countries' bilateral ties. The council also set the effective date of the revised Anti-Money Laundering Act on Oct. 1.Over to corporates, Berenberg lowered its price target for Burckhardt Compression (BCHN.SW) to 670 francs from 720 francs, while the stock's buy rating was maintained, noting that the reciprocating compressor technology company delivered a "mixed" set of results for its fiscal year ended March 31. At closing, the stock was up 2.69%."On the positive side, profitability exceeded expectations, with the EBIT margin expanding to 13.3% from 12.9% and comfortably ahead of our and consensus forecasts of 12.8%," the research firm said in a note. "While management attributes the weakness in orders to tariff uncertainty, the Middle East conflict and delayed customer investment decisions, we believe investors will question why the deterioration became visible only at the results stage. The magnitude of the shortfall stands in contrast to previous communication, which had left the market expecting a more resilient demand environment."Swiss citizens will vote on Sunday on whether to cap the country's population at 10 million, a proposal that could impact the hiring of foreign talent for companies.

^SSMI$BCHN.SW

Asia Markets57d ago

Germany's DAX Index Rallies on Inflation Report, US-Iran Deal Hopes

Germany's blue-chip DAX index ended Friday 1.76% in the green as markets took stock of the latest inflation figures and developments related to the war in the Middle East.Final data from Destatis confirmed that the annual inflation rate in the country fell to 2.6% in May from 2.9% in April. The annual core inflation rate, which excludes food and energy prices, rose to 2.5% from 2.3%.Meanwhile, the Deutsche Bundesbank expects Germany's economic recovery to continue, albeit at a slower pace, amid increased inflation risks due to the energy price shock caused by the war. The country's calendar-adjusted real gross domestic product is anticipated to grow by 0.5% in 2026, 0.8 % in 2027, and 1.4 % in 2028, while the annual harmonized inflation rate is forecast to rise to 2.9% in 2026 from the previous year's 2.3%, before easing to 2.7% in 2027 and 1.9% in 2028.On the corporate front, Moody's affirmed Siemens' (SIE.F) Aa3 long-term issuer rating and Prime-1 short-term issuer rating, mainly driven by the German technology group's strong business profile and its continued robust operating performance. The stable outlook was maintained. Siemens shares gained 2.32% at closing.Berenberg bumped up its price target for Bayer (BAYN.F) to 40.50 euros from 40 euros, with an unchanged hold rating on the stock, viewing the life science company as having a "good chance of resolving its long-running legal issues in 2026." The stock closed the trading session up 1.12%."We had hoped for clarity by early June on whether plaintiffs would accept Bayer's proposed USD7.25bn settlement of outstanding glyphosate cases. We think that the settlement presents Bayer's best form of insurance against a potential loss in the Durnell case before the US Supreme Court," the research firm said in a note. "The ruling, which will likely come before the end of July, in our view, has 60:40 odds of a Bayer victory - which is uncomfortably close to a coin toss."In geopolitical news, US President Donald Trump claimed that a deal to end the war with Iran will be signed in the coming days, while Iran's foreign ministry spokesperson Esmail Baghaei called the reports "speculative," saying the parties have yet to reach a conclusion, BBC News and other media outlets reported.

^DAX$BAYN.F$SIE.F

Asia Markets57d ago

UK's FTSE 100 Jumps on Renewed Optimism Over US-Iran Deal; British Economy Shrinks

Britain's FTSE 100 index ended the trading week 1.63% higher, buoyed by renewed investor optimism over an interim peace agreement between the US and Iran.Washington and Tehran could sign a deal to reopen the Strait of Hormuz next week on the sidelines of the Group of Seven summit in Switzerland, Bloomberg News reported, citing senior officials. The terms of the memorandum of understanding are still subject to approval by Iran's Supreme Leader Mojtaba Khamenei, an unnamed European official told the news outlet.News of a potential deal sent oil prices down over 2% on Friday. BP (BP.L) and Shell (SHEL.L) also tumbled 1.98% and 1.69%, respectively, making them the two biggest losers on the blue-chip index.In corporate news back home, Flutter Entertainment (FLTR.L) plans to delist its ordinary shares from the London bourse on Aug. 3, but will continue to list in New York. The online sports betting and gaming company edged down 3.33% in London at close.On the economic front, Britain's monthly gross domestic product fell 0.1% in April 2026, in line with expectations, following a 0.3% rise a month ago, data from the Office for National Statistics showed. The latest figure, which marks the first economic contraction since August 2025, was driven by a fall in services, offset by growth in construction. Meanwhile, production stagnated during the month."While UK GDP grew by 0.7% in the three months to April, the contraction in April is more indicative of growth prospects for the economy going forward. We expect UK GDP growth to slow in the second quarter," according to Yael Selfin, vice chair and chief economist at KPMG in the UK.The week ahead will see a barrage of economic data in the UK, including inflation, labor market figures, the Bank of England's interest rate decision, retail sales, and public sector net borrowing.

FTSE 100$BP.L$FLTR.L$SHEL.L

Asia Markets57d ago

European Equities Traded in the US as American Depositary Receipts Increase in Friday Trading; Rise for Week

European equities traded in the US as American depositary receipts were trending higher late Friday morning, rising 0.53% to 1,917.29 on the S&P Europe Select ADR Index, which is up more than 2% for the week so far.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and telecommunications company Nokia (NOK), which advanced 8.2% and 5.8% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and pharmaceutical company Ascendis Pharma (ASND), which increased 4.8% and 3.2% respectively.The decliners from continental Europe were led by accommodations booking company trivago (TRVG) and medical device maker EDAP TMS (FOCL), which dropped 3.2% and 1.5% respectively. They were followed by software firm SAP (SAP) and semiconductor company Sequans Communications (SQNS), which lost 1.3% and 0.6% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and software firm Endava (DAVA), which rose 3.7% and 3.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biotech firm Autolus Therapeutics (AUTL), which were up 2.7% and 1.9% respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Akari Therapeutics (AKTX), which fell 3.7% and 3.4% respectively. They were followed by medical device maker Smith & Nephew (SNN) and pharmaceutical company AstraZeneca (AZN), which were off 0.9% and 0.6% respectively.

$AKTX$ASND$AUTL$AZN$DAVA$DBVT$EVAX$FOCL$MREO$NOK$SAP$SLN$SNN$SQNS$TRIB$TRVG

Asia Markets57d ago

Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading, Marginally Lower for Week

Asian equities traded in the US as American depositary receipts were tracking higher Friday morning, rising 0.6% to 2,841.30 on the S&P Asia 50 ADR Index, which is edging 0.1% lower for the week so far.From North Asia, the gainers were led by solar panel maker JinkoSolar (JKS) and healthcare platform 111 (YI), which climbed 7.8% and 6.8% respectively. They were followed by utilities company Korea Electric Power (KEP) and semiconductor company ASE Technology (ASX), which advanced 4.3% and 3.4% respectively.The decliners from North Asia were led by media company Phoenix New Media (FENG) and real estate and digital security company Eason Technology (DXF), which fell 5.7% and 4.9% respectively. They were followed by education companies 51Talk Online Education Group (COE) and 17 Education & Technology Group (YQ), which were down 3.1% and 2.8% respectively.From South Asia, the gainers were led by IT firm Infosys (INFY) and lender ICICI Bank (IBN), which rose 1.3% each. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and computer hardware maker Canaan (CAN), which were up 1% and 0.3% respectively.The lone decliner from South Asia was tech conglomerate Sea (SE), which dropped 2.4%.

$ASX$CAN$COE$DXF$FENG$IBN$INFY$JKS$KEP$SE$TLK$YI$YQ

Asia Markets57d ago

Update: US Equity Futures Rise Pre-Bell on Middle East Peace Deal Optimism

(Updates with recent oil price movement, world markets' overview and stock movements.)US equity futures were higher pre-bell Friday as traders anticipated the potential signing of a peace deal between the US and Iran that will reopen the Strait of Hormuz.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were marginally up.The draft memorandum of understanding includes a commitment from the US to lift oil sanctions and a pledge from Iran to reopen the Strait of Hormuz, according to a CNBC report citing Iranian state media. The two nations could sign the agreement as soon as Sunday in Switzerland, Bloomberg reported, citing senior officials.President Donald Trump said in a post on Truth Social Thursday that he had cancelled planned strikes on Iran, as talks with Iranian leadership had resulted in final points being "approved by all parties involved."Traders took note of the latest round of earnings, with Adobe (ADBE) posting higher fiscal Q2 adjusted earnings and revenue. They are also anticipating the debut of SpaceX on Nasdaq, set to go public under the ticker symbol SPCX.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.5% at $88.10 per barrel and US West Texas Intermediate crude 2.8% lower at $85.22 per barrel.The University of Michigan consumer sentiment index for June, slated for 10 am ET, is expected at 46.0, up from 44.8 previously.In other world markets, Japan's Nikkei closed 2.8% higher, Hong Kong's Hang Seng ended 1.9% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.9%, and Germany's DAX index was 1.2% higher in Europe's early afternoon session.In equities, Adobe shares dropped 9.1% after the company reported its fiscal Q2 financial results and Chief Financial Officer Dan Durn announced his exit from the firm effective Monday. Venture Global (VG) stock was down 1.5% after the company said it closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.On the winning side, IBM (IBM) and ServiceNow (NOW) shares were up 0.5% and 0.2%, respectively, after the companies said they have expanded their collaboration to help enterprises modernize legacy data and accelerate the use of artificial intelligence across core business operations. Nokia (NOK) stock was up 0.8% after the company upgraded its Network Services Platform with an agentic artificial intelligence framework to enable trusted AI operations across multi-vendor IP networks and advance autonomous network capabilities.

Dow JonesNasdaq CompositeS&P 500$ADBE$IBM$NOK$NOW$SPCX$VG

Asia Markets57d ago

UAE Indices Rebound; Dubai's Emaar Properties Soars

United Arab Emirates equities were back in the green on the last trading day of the week, buoyed by optimism over a possible US-Iran peace deal. At the close of Friday trading, the FTSE ADX General Index added 2.718%, while the DFM General was up 3.84%.US President Donald Trump, in a post on his social media platform Truth Social, said that he is canceling planned attacks on Iran after approval of discussions with Iran's "highest level" leadership. Trump also told White House reporters that a peace deal could be signed over the weekend in Europe.While markets await Iran's official confirmation on the proposed deal, Bloomberg News reported, citing G7 officials, that both countries are moving closer towards signing the agreement, which could take place in Geneva."It's not the first time we've been in this position. Trump has said many times before that a deal is very close, only for hostilities to resume. However, there does appear to be more positive noise around the deal this time, not just from the US but also from other parties involved in the negotiations," ING said. "Obviously, the key is the message coming out of Tehran. And for now, it has been very quiet. Therefore, we would be cautious about assuming that the extension of the ceasefire is a done deal."Closer to home, the Central Bank of the UAE and the World Bank Group agreed to collaborate on financial literacy, digital fraud prevention, and financial dispute resolution as part of an ongoing partnership between the two lenders.Over to corporates, Real estate developer Emaar Properties (DFM:EMAAR) was the Dubai bourse's most traded stock by value and closed 8.33% higher after announcing plans to disclose a 200 billion-dirham master-planned development in Dubai.International Holding Co. (ADX:IHC) shares closed the session flat as it launched the first tranche of its 5 billion-Emirati-dirham share repurchase program to buy back 1.8 billion dirhams worth of shares on Friday.The UAE bourses will be out on June 15 for the new Hijri Year 1448 or the Islamic New Year.

^DFMGI^FADGIADX:IHCDFM:EMAAR

Asia Markets58d ago

Update: US Equity Indexes Jump, Crude Oil Sinks as Trump Hopeful of Signing Iran Peace Deal This Weekend

(Updates with index and price moves as well as other information influencing markets from the first paragraph.)US equity indexes surged while crude oil slumped with government bond yields on Thursday after President Donald Trump canceled planned attacks on Iran and said a peace deal could be signed with Tehran this weekend.The Dow Jones Industrial Average rose 1.9% to 50,848.75, the Nasdaq Composite jumped 2.5% to 25,809.66, and the S&P 500 advanced 1.8% to 7,394.30 at the close. All sectors except energy, consumer staples, and real estate advanced. Industrials, materials, technology, and consumer discretionary led the gainers.In a social media post, Trump said he is canceling the attacks planned for Iran on Thursday."Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," Trump said in the post.A deal could be signed as soon as this weekend, possibly in Europe, Al Jazeera reported, citing Trump. The Strait of Hormuz will reopen as soon as the pact is signed, the news reported cited the US president as saying.However, Iranian officials haven't confirmed progress on the deal, and the Islamic Revolutionary Guards cast doubt on an earlier statement about the potential agreement, CNN reported. Iran has yet to comment on Trump's latest remarks or the claim that a deal has been agreed, Al Jazeera reported.Nevertheless, the front-month global benchmark North Sea Brent crude futures sank 4.6% to $88.86 per barrel, and the US West Texas Intermediate crude futures slumped 4.2% to $86.27 per barrel.US Treasury yields declined, with the 10-year down 8.3 basis points to 4.45% and the two-year lower by 7.1 basis points to 4.06%.In precious metals, gold futures jumped 2.4% to $4,232.1, and silver futures surged 4.1% to $67.40.In economic news, the core Producer Price Index, which excludes the more volatile food and energy prices, grew 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and a 0.7% rise in April. Core PPI remained at 4.9% year-over-year but below the 5.4% consensus.Headline producer prices rose by 1.1% in May, the same as in April but above the forecast for a 0.7% gain. PPI jumped 6.5% year-over-year, the strongest pace since November 2022, from 5.7% in the previous month. Energy prices surged almost 11% in May following a 7.5% jump in April, according to a Stifel note."This is a Fed that has been willing to tolerate above-target inflation for years, so any notion of a temporary, or bringing back a favorite word, 'transitory' impact from higher energy prices will not be enough to force the Fed's hand," Stifel Chief Economist Lindsey Piegza said in the note.Initial jobless claims rose to 229,000 during the week ended June 6 from 225,000 in the prior week and above the 220,000 expected."It is more likely than not that this [claims data] is just seasonal noise," Jefferies Chief US Economist Thomas Simons said in a note.In company news, Space Exploration Technologies (SPCX) is pricing its initial public offering of about 555.6 million Class A shares at $135 each, the company said Thursday. Shares are expected to begin trading on the Nasdaq Global Select Market and Nasdaq Texas on Friday under the symbol "SPCX".

Dow JonesNasdaq CompositeS&P 500$SPCX

Asia Markets58d ago

Update: US Equity Indexes Advance Following Slower-Than-Expected Growth in Core Producer Price Inflation

(Updates with new information from the first paragraph.)US equity indexes rose as bets for an interest-rate increase this year were little changed after core producer price inflation grew less than forecast, helping offset the impact of President Donald Trump's threats of more attacks on Iran.The Dow Jones Industrial Average rose 0.6% to 50,237.1, followed by a 0.5% gain in the Nasdaq Composite to 25,292.3 and a 0.3% increase in the S&P 500 to 7,287.5 in midday trading on Thursday.All sectors except communication services, financials, and real estate advanced. Industrials and materials led the gainers.The core Producer Price Index, which excludes the more volatile food and energy prices, grew 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and a 0.7% rise in April. Core PPI remained at 4.9% year-over-year but below the 5.4% consensus.Headline producer prices rose by 1.1% in May, the same as in April but above the forecast for a 0.7% gain. PPI jumped 6.5% year-over-year, the strongest pace since November 2022, from 5.7% in the previous month."This is a Fed that has been willing to tolerate above-target inflation for years, so any notion of a temporary, or bringing back a favorite word, 'transitory' impact from higher energy prices will not be enough to force the Fed's hand," Stifel Chief Economist Lindsey Piegza said in a note. "While several members have voiced a willingness to consider a higher policy target, the majority still remain optimistic [that] elevated prices will prove somewhat temporary with inflation potentially cooling later this year."The probability of a 25-basis-point increase in interest rates to a target range of 3.75% to 4% in December remained at 43% from a day ago, according to the CME FedWatch tool. The comparisons for September were 36% versus 34%, and, for October, the data showed an increase to 41% from 39%, implying modest rate-hike probabilities following the producer price inflation data.Initial jobless claims rose to 229,000 during the week ended June 6 from 225,000 in the prior week and above the 220,000 expected."It is more likely than not that this [claims data] is just seasonal noise," Jefferies Chief US Economist Thomas Simons said in a note. "Nonetheless, this data continues to be an important area to watch."Meanwhile, crude oil futures rose, with front-month global benchmark North Sea Brent up 0.8% to $93.87 per barrel and US West Texas Intermediate higher by 1.5% to $91.35 per barrel.The US will hit Iran with an attack "VERY HARD TONIGHT," and it will take control of the Kharg Island sometime in the "not too distant future," President Donald Trump said Thursday on a Truth Social post. The island is reportedly the gateway for a vast majority of Iran's crude oil exports. Iran's Foreign Ministry has condemned the recent US strikes on the country, saying that it has rendered the ceasefire "practically meaningless," the Associated Press reported Thursday.US Treasury yields traded mixed, with the 10-year down one basis point to 4.53% while the two-year rose 1.6 basis points to 4.14%.In company news, BlackRock placed a $5 billion order to buy shares of SpaceX (SPCX), The Wall Street Journal reported. The company is expected to go public on Friday.Oracle (ORCL) shares sank 12%, the worst performer on the S&P 500, after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Wedbush cut its price target for Oracle's shares to $240 from $275, citing the debt raise.Applied Materials (AMAT) shares jumped 6.7%, among the top gainers on the Nasdaq, after the firm expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL$SPCX

Asia Markets58d ago

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 0.9%.US equity indexes rose amid a broad-based rally after core producer price inflation, which excludes the more volatile food and energy prices, grew less than forecast in May.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each fell 0.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) climbed up 0.7%; iShares US Technology ETF (IYW) rose 0.5%, and iShares Expanded Tech Sector ETF (IGM) was up 0.4%.The State Street SPDR S&P Semiconductor (XSD) advanced 2.2%, and iShares Semiconductor (SOXX) was 3% higher.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.8%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 0.9%.CommoditiesCrude oil gained 1.1%, and the United States Oil Fund (USO) added 0.5%. Natural gas shed 2.7%, and the United States Natural Gas Fund (UNG) was down 2.7%.Gold on Comex slipped 0.8%, and the State Street SPDR Gold Shares (GLD) fell 0.2%. Silver declined 1.2%, and iShares Silver Trust (SLV) was up fractionally.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) fell less than 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was down marginally.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.1%. VanEck Retail ETF (RTH) was 0.6% higher, and the State Street SPDR S&P Retail (XRT) added 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.4%, iShares US Healthcare (IYH) added 0.4%, and Vanguard Health Care ETF (VHT) was up 0.5%. IShares Biotechnology ETF (IBB) climbed up 1.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 1.4%. Vanguard Industrials Index Fund (VIS) gained 1.3%, while iShares US Industrials (IYJ) rose 0.9%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was up 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.8%, ProShares Ether ETF (EETH) added 0.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.2% higher.

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Asia Markets58d ago

Update: US Equity Indexes Advance Following Slower-Than-Expected Growth in Core Producer Price Inflation

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL$SPCX