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Asian Equities Traded in the US as American Depositary Receipts Open Week Higher in Monday Trading

Asian equities traded in the US as American depositary receipts opened the week higher Monday morning, rising 0.77% to 2,840.18 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by travel company Tuniu (TOUR) and fintech firm J and Friends (JF), which climbed 7% and 6.5% respectively. They were followed by brand platform Baozun (BZUN) and video-sharing platform Bilibili (BILI), which advanced 4.1% and 3.8% respectively.The decliners from North Asia were led by lender Shinhan Financial Group (SHG) and utilities company Korea Electric Power (KEP), which dropped 4.5% and 3.5% respectively. They were followed by online game developer The9 (NCTY) and diagnostic imaging centers company Concord Medical Services (CCM), which lost 2.5% and 2.1% respectively.From South Asia, the gainers were led by IT firm Wipro (WIT) and computer hardware maker Canaan (CAN), which rose 5% and 2.9% respectively. They were followed by IT firm Sify Technologies (SIFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 2.8% and 0.7% respectively.The decliners from South Asia were led by telecommunications operator Telekomunikasi Indonesia (TLK) and tech conglomerate Sea (SE), which fell 7% and 1.9% respectively. They were followed by fintech firm Trident Digital Tech (TDTH) and telecommunications operator PLDT (PHI), which were off 0.9% and 0.3% respectively.

$BILI$BZUN$CAN$CCM$JF$KEP$NCTY$PHI$RDY$SE$SHG$SIFY$TDTH$TLK$TOUR$WIT

Asia Markets105d ago

Tadawul Shares End Monday Higher Ahead of Saudi Q1 GDP Growth Rate Data

The Tadawul All Share Index closed Monday 0.41% in the green as investors await Saudi Arabia's latest GDP growth rate numbers on Tuesday.Aside from the upcoming economic releases, which include China's latest inflation print for May, investors are also focusing on the Middle Eastern conflict.Reuters reported that Israel and Iran launched attacks against each other. The Israeli side struck a petrochemical facility, while the Iranian side launched a retaliatory strike against a similar facility in Israel."Iran targeted Israel with a missile attack yesterday after an Israeli strike in Beirut, while Israel's military has responded with strikes against targets in Iran overnight. The IRGC warned yesterday evening that its actions would mark 'a full week of continuous strikes', but there are also signs that the sides are looking to avoid a full escalation, with Axios reporting Israel strikes were 'relatively limited' in scope and Iranian state media denying that it launched a strike towards a US airbase in Saudi Arabia after a missile alert there," Deutsche Bank Research said in a note.Also affecting sentiment is the decision of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, to increase crude production by 188,000 barrels per day in July. Saudi Arabia, the de facto leader of the group, will be required to produce 10.4 million barrels per day during the month.Against this backdrop, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, lowered its main crude oil prices for its buyers in North West Europe, Mediterranean, North America, and Asia in July. Aramco shares ticked up 0.59% at closing.Meanwhile, Bank AlJazira (SASE:1020) shares closed 0.70% higher as it disclosed its plans to redeem its tier 1 capital certificates worth $500 million on June 29.

^TASISASE:1020SASE:2222

Asia Markets105d ago

US Equity Futures Higher Pre-Bell as Trump Tries to Keep Fragile Middle East Ceasefire Intact Amid New Israel-Iran Clashes

US equity futures were edging higher pre-bell Monday as President Donald Trump tried to hold together the fragile Middle East ceasefire after Israel and Iran exchanged attacks over the past few days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.4% higher.In a post on Truth Social, Trump said that Israel and Iran were looking to do an "immediate" ceasefire after the two nations exchanged a series of attacks. Israeli forces on Sunday had launched strikes on Iran-backed Hezbollah forces inside Beirut, Lebanon, and Iran had retaliated with missile attacks. "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached," Trump said.The US imposed a blockade of Iranian ports after Iran barred transit of ships in the Strait of Hormuz.Oracle (ORCL) and Adobe (ADBE) are among the companies scheduled to release quarterly financial results within the week.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $94.74 per barrel and US West Texas Intermediate crude 1.4% higher at $91.82 per barrel.The NY Federal Reserve's June consumer inflation expectations index is scheduled to be released at 11 am ET.In other world markets, Japan's Nikkei closed 3.9% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 1.7% lower. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.3% lower in Europe's early afternoon session.In equities, Nvidia (NVDA) shares rose 2.4% after a Bloomberg report cited company CEO Jensen Huang as saying that a global technology stock selloff was an opportunity to purchase shares at a discount. Eli Lilly (LLY) stock was up 1.7% after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea. Advanced Micro Devices (AMD) stock was up 3.7% after the company said it plans to invest up to 2 billion British Pounds ($2.7 billion) in the UK over the next five years to accelerate artificial intelligence research.On the losing side, Haleon (HLN) shares dropped 1% after the company said it plans to invest about 175 million pounds ($233.1 million) to build a new oral health manufacturing facility in Madhya Pradesh and expand distribution across rural India.

Dow JonesNasdaq CompositeS&P 500$ADBE$AMD$HLN$LLY$NVDA$ORCL

Asia Markets105d ago

UAE Stocks Slide on Renewed Iran-Israel Attacks; OPEC+ Boosts July Oil Output

Stock trading in the United Arab Emirates started the week in red as renewed attacks between Iran and Israel soured sentiment and lifted oil prices.At the close of Monday trading, the FTSE ADX General Index fell 1.354%, while the DFM General declined 0.571%.Geopolitical tensions were in the spotlight once again after Iran and Israel exchanged new rounds of attacks, with US President Donald Trump telling both countries to stop shooting. Trump also said in a social media post that final peace talks are proceeding."This and the wider quotes from Mr Trump sound like a President who really doesn't want this war to escalate any further and is trying to find all ways to avoid it. Still, the events have further complicated the chances of an imminent deal. The key sticking points to a deal remain the release of Iran's frozen assets, its stock of highly enriched uranium, developments in Lebanon, and how control of the Strait of Hormuz will be handled going forward," Deutsche Bank Research said.On the oil front, seven OPEC+ members, in a virtual meeting on Sunday, agreed to boost oil output targets by 188,000 barrels per day in July amid the continued closure of the Strait of Hormuz.Back home and on the corporate front, Gulf Pharmaceutical Industries (ADX:JULPHAR), d/b/a Julphar, shares closed the session 2.80% in the red. The pharmaceutical company's Planet Pharmacies subsidiary concluded the sale of its Health First pharmacy chain in the UAE to Batha Healthcare Group and now awaits regulatory approvals to divest its Scientific Pharmacy chain and distribution channel in Oman.Meanwhile, in Dubai, Alec Holdings (DFM:ALEC) unit Target Engineering Construction Co. secured three engineering, procurement, and construction contracts worth $500 million. Shares of the engineering and construction group closed the session 1.36% lower.

^DFMGI^FADGIADX:JULPHARDFM:ALEC

Asia Markets105d ago

US Equity Investors to Focus on Inflation Data as April Ceasefire Tested Following Iran-Israel Overnight Strikes

US equity investors will focus on the inflation data, a worsening conflict in the Middle East, and the likely public listing of SpaceX this week.* The consumer and wholesale price indexes for May are due Wednesday and the Thursday, respectively, with initial jobless claims likely on the latter. Michigan consumer sentiment preliminary and inflation expectations is due Friday. Existing home sales and ADP employment change are set for Tuesday.* The strength in the CPI is largely coming from energy, with gasoline up roughly 8% on the month, alongside idiosyncratic pressures, Jefferies said in a note Friday. "Overall, the firm print looks somewhat skewed by energy and one-offs, but still keeps the inflation backdrop sticky in the near term."* "Seasonal adjustment factors have been haircutting seasonally unadjusted price changes more so in recent years than previously which could have a dampening effect," a Scotiabank note said Friday.* Israel and Iran exchanged fire that extended into Monday morning, in a resumption of violence that tested President Donald Trump's Middle East ceasefire, The Wall Street Journal reported Monday. Trump told The Financial Times that Israel would have to accept any deal the US reaches with Iran, saying "I call all the shots," CNN reported same day.* The overnight exchange will only worsen a "chaotic diplomatic process" with the US, Iran's Foreign Ministry spokesperson was cited as saying in a Reuters news report. Esmaeil Baghaei reportedly added that it would also further exacerbate Tehran's suspicion toward Washington.* SpaceX (SPCX), which likely IPO on June 12, Amazon-backed (AMZN) Anthropic, and Microsoft-backed (MSFT) OpenAI's upcoming public offerings may drag down broader stock markets, Research Affiliates founder Rob Arnott told Bloomberg News on Friday. Index funds will have to trim their current positions to make room for new entrants.* Quarterly earnings due include Oracle (ORCL), Adobe (ADBE), Lennar (LEN), and Trip.com (TCOM).

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$ORCL$TCOM

Asia Markets106d ago

Saudi Equities Start Week Lower As Middle Eastern Conflict Continues

Saudi Exchange-traded shares closed lower on Sunday as the new geopolitical developments in the Middle East pushed the Tadawul All Share Index 0.56% in the red.The US is looking into using Iran's assets to repair the damage caused by the Middle Eastern country to its Gulf neighbors. US Treasury Secretary Scott Bessent's statement after it was disclosed that having its assets unfrozen is a requirement for its peace deal with the US.Meanwhile, the members of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, will reportedly increase their oil output targets by 188,000 barrels per day in July, the same as the prior month.Back at home and on the corporate front, Aldawaa Medical Services (SASE:4163) ticked down 2.55% at closing as it reported a 78.84% year-over-year drop in attributable net profit and a 7.18% annual decline in its revenue for the first quarter ended March 31."Net profit for the first quarter of 2026 decreased by SAR 83 million, or 78.8%, compared to the same period of the last year, primarily driven by the corresponding decline in revenue and gross profit, while maintaining a broadly stable gross margin of 35.6%. The decline is also contributed by higher operating expenses and non-recurring items during the period as below," the medical services company said in its report.Looking ahead into the week, the local economic calendar will see the release of the kingdom's final GDP growth rate numbers for the first quarter on Tuesday, and the April industrial production data on Wednesday.

^TASISASE:4163

Asia Markets108d ago

US Equity Indexes Plummet as Dwindling Expectations for Monetary Policy Easing Decimate Mega-Cap Technology

US equity indexes plunged amid a slide in mega-cap chip names and government bonds, as a strong jobs report slashed the odds for monetary policy easing this year.The Nasdaq Composite nosedived 4.2% to 25,709.43, with the S&P 500 down 2.6% to 7,383.74, and the Dow Jones Industrial Average lower by 1.4% to 50,866.78 on Friday.Technology sank with consumer discretionary, materials, and communication services. Consumer staples led the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel."We read this employment report as indicating the Fed can and will remove its easing bias in June," a Morgan Stanley research note said. "Perhaps exaggerated by a surge in state gov't payrolls and in leisure, but unquestionably strong labor demand."The unemployment rate remained at 4.3% in May, per the BLS data, as expected. Hourly earnings rose by 0.3%, as expected, and faster than a 0.2% increase in April."We see the next move as a hike with our baseline timing being in 1Q27," said David Doyle, head of economics at Macquarie. "Risks to this have become skewed to an earlier hiking with markets now discounting a hike in 4Q26."The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 34% versus 20%, and, for October, the data showed an increase to 40% from 25%.US Treasury yields soared, with the 10-year up 6.1 basis points to 4.54% and the two-year higher by 10.6 basis points to 4.16%.In precious metals, gold futures dropped 3.3% to $4,356.8, and silver futures slumped 7% to $68.84.A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting."The negotiations are at a deadlock and Trump must break this deadlock," Rezaei was cited as saying. "The ball is in Trump's court."West Texas Intermediate crude oil futures declined 2.4% to $90.62, and Brent crude futures fell 1.9% to $93.18.In company news, Lululemon Athletica (LULU) shares slumped 9.2%, among the worst performers on the S&P 500, after the company reported a decline in fiscal Q1 earnings and cut its 2026 guidance.Among the top gainers on the index was Cooper Companies (COO), up 7.1%, after the firm reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales, and lifted its fiscal 2026 outlook for non-GAAP diluted earnings per share.

Dow JonesNasdaq CompositeS&P 500$COO$LULU

Asia Markets108d ago

US Equity Indexes Slump This Week as Fed Rate Increase Expectations Sink Big Tech, Iran Demands Frozen Assets

US equity indexes dropped this week as big tech tumbled after strong jobs data boosted the odds for monetary policy tightening, while Iran linked the release of billions of dollars of frozen assets to a peace deal with Washington.* The S&P 500 closed at 7,383.59 on Friday versus 7,580.06 a week ago. The Nasdaq Composite stood at about 25,709.43, compared with 26,972.62 a week earlier. The Dow Jones Industrial Average ended at 50,866.78, versus 51,032.46 at the end of last week.* Consumer cyclical, communication services, and technology were among the worst five sectors this week. Amazon.com (AMZN), Tesla (TSLA), and Microsoft (MSFT) were among the bottom 10 companies with a market capitalization of more than $200 billion this week, according to data compiled by Finviz.* Nonfarm payrolls rose by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey, while April payrolls were revised upwards to a 179,000 increase and March payrolls were revised higher to a 214,000 gain, for a net upward revision of 93,000 jobs.* US job openings rose to 7.618 million in April, above the 6.866 million consensus.* The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 34% versus 20%, and, for October, the data showed an increase to 40% from 25%.* A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting.* "The negotiations are at a deadlock, and Trump must break this deadlock," Rezaei was cited as saying in the news report.

Dow JonesNasdaq CompositeS&P 500$AMZN$MSFT$TSLA

Asia Markets108d ago

US Equity Indexes Dive as Blockbuster Jobs Report Set to Eliminate Easing Bias in Fed Policy Statement

US equity indexes sank amid a slide in mega-cap chip names and government bonds, as strong jobs slashed the odds for monetary policy easing this year.The Nasdaq Composite slumped 3% to 26,024.3, with the S&P 500 down 1.8% to 7,448.9, and the Dow Jones Industrial Average lower by 0.8% to 51,148.2 after midday Friday. Technology was the standout decliner, while healthcare and consumer staples topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel."We read this employment report as indicating the Fed can and will remove its easing bias in June," a Morgan Stanley research note said. "Perhaps exaggerated by a surge in state gov't payrolls and in leisure, but unquestionably strong labor demand."The unemployment rate remained at 4.3% in May, per the BLS data, as expected. Hourly earnings rose by 0.3%, as expected, and faster than a 0.2% increase in April.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 5.1 basis points to 4.53% and the two-year higher by 10.6 basis points to 4.16%.In precious metals, gold futures dropped 3.3% to $4,356.8, and silver futures slumped 7% to $68.84.Skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported. Even so, Hezbollah's attacks on northern Israel have eased, while Israel has held off striking Beirut after threatening to do so earlier this week, it added.Tehran has made a ceasefire between Israel and Hezbollah a condition for any peace deal with Washington to resolve the regional war and restart shipping through the Strait of Hormuz, Reuters reported.West Texas Intermediate crude oil futures declined 3.4% to $89.92, and Brent crude futures dropped 2.3% to $92.84.In company news, Lululemon Athletica (LULU) shares slumped 9.2%, among the worst performers on the S&P 500, after the company reported a decline in fiscal Q1 earnings and cut its 2026 guidance.Among the top gainers on the index was Cooper (COO), up 7.1%, after the firm reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales.

Dow JonesNasdaq CompositeS&P 500$COO$LULU

Asia Markets108d ago

Exchange-Traded Funds Fall as US Equities Slump After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) slumped 3.5%.US equity indexes tumbled, led by tech stocks, after a strong jobs report boosted expectations for an interest-rate increase this year.EnergyIShares US Energy ETF (IYE) fell 1.6%, and the State Street Energy Select Sector SPDR (XLE) lost 1.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) slid 5.3%; iShares US Technology ETF (IYW) lost 4.5%, and iShares Expanded Tech Sector ETF (IGM) dropped 4.7%.The State Street SPDR S&P Semiconductor (XSD) plunged 9.4%, and iShares Semiconductor (SOXX) fell 8%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was little changed, paring earlier declines, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.1%.CommoditiesCrude oil dropped 3.3%, and the United States Oil Fund (USO) lost 3%. Natural gas and the United States Natural Gas Fund (UNG) each shed 3.5%.Gold on Comex lost 3.1%, and the State Street SPDR Gold Shares (GLD) fell 3.2%. Silver declined 6.4%, and iShares Silver Trust (SLV) fell 6.8%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 2.1%. The Vanguard Consumer Staples ETF (VDC) added 2.1%, and iShares Dow Jones US Consumer Goods (IYK) gained 2.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1%. VanEck Retail ETF (RTH) rose 0.7%, and the State Street SPDR S&P Retail (XRT) dropped 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed 1.5%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) rose 1.1%. IShares Biotechnology ETF (IBB) shed 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.6%. Vanguard Industrials Index Fund (VIS) declined 0.6%, while iShares US Industrials (IYJ) fell 1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.5%, ProShares Ether ETF (EETH) shed 10.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 5% 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 Markets108d ago

Swiss Shares End Week Upbeat; Federal Council Rejects US Forced Labor Claims

The Swiss Market Index closed Friday's session 0.35% higher as investors reacted to the latest US labor market data ahead of monetary policy decisions from several major central banks.US nonfarm payrolls rose by 172,000 jobs in May after an upwardly revised increase of 179,000 in April, the country's Bureau of Labor Statistics said, exceeding the consensus of 85,000. Meanwhile, the unemployment rate remained at 4.3% for a third consecutive ⁠month, in line with estimates."The recent upward inflection in employment was not big enough to lower the unemployment rate... However, if employment growth sustains its recent pace, the limited supply of workers following President Trump's crackdown on immigration will likely cause it to tighten quickly," Berenberg noted.Back home, Switzerland's foreign currency reserves fell to 710.82 billion francs in May from the revised 715.81 billion francs in April, data from the Swiss National Bank (SNBN.SW) showed.In other news, the Swiss Federal Council "strongly rejects" the allegations made in the US government's Section 301 investigation into imports of goods made with forced labor, adding that it will restate its arguments in writing. The US Trade Representative proposed a 12.5% flat-rate additional tariff on countries such as Switzerland, although the recommendation will not take effect immediately.The Federal Council added that it will continue trade talks with the US. "In the negotiations, the Federal Council is taking current developments into account and is seeking an outcome that will provide a satisfactory long-term framework for economic relations between the two countries, irrespective of legal and political developments in the US."On the corporate front, Givaudan (GIVN.SW) agreed to buy a majority stake in Spanish pure-play fragrance house Eurofragance for an undisclosed sum. Closing is subject to regulatory processes. The Swiss flavors and fragrances group gained 1.06% at close.In geopolitical news, tensions between Iran and the US escalated after Tehran said it fired warning missiles and drones toward US naval vessels in the Gulf of Oman, alleging interference with shipping routes and the seizure of oil tankers. In Oman, officials said the Mina al Fahal oil export terminal was operating normally, downplaying reports of any disruption to flows.

^SSMI$GIVN.SW$SNBN.SW

Asia Markets108d ago

Germany's DAX Index Falls Amid Latest Eurozone GDP, Labor Data

German equities declined at the end of the trading week, with the blue-chip DAX index losing 0.75% at Friday's close, as the latest euro area gross domestic product and employment data were released.According to Eurostat's third estimate, the eurozone's GDP edged down 0.2% in the first quarter, revised downward from the second estimate's 0.1% uptick and following the prior three-month period's 0.2% rise. The contraction was primarily attributed to revised data showing a significant drop in Irish GDP. On a yearly basis, the eurozone registered 0.3% economic growth, below the second estimate of 0.8% and the previous quarter's 1.2%."Excluding the effect of Irish GDP, Eurozone growth remains remarkably steady at around 0.2% per quarter. But the Q1 reading was flattered by inventory frontloading ahead of impending supply disruption and higher prices. We think this effect will reverse in Q2," Oxford Economics said.Meanwhile, final data from Eurostat showed that employment in the euro area inched up 0.1% in the first quarter, as expected, compared with the previous quarter's 0.2% increase. Annual employment grew 0.5%, matching preliminary projections and compared with the 0.7% gain in the previous three-month period.On the corporate front, mwb Research noted that mounting pressures on pharmaceutical capital expenditure bolster its sell rating on Sartorius AG (SRT.F, SRT3.F)."Recent reports that Eli Lilly may halve the second phase of its Alzey investment and Boehringer Ingelheim may cancel EUR 900m of German projects point to weakening investment visibility across Europe. Meanwhile, large pharma groups continue to commit capital to the US, driven by industrial policy, tariff exemptions and 'America First' supply-chain priorities. For Sartorius, a regional capex shift could pressure equipment-heavy LPS and parts of BPS. While recurring revenues (75% mwb est) should stabilize growth, they may not offset delayed investment cycles," mwb wrote. The German life science group was down 2.97% at closing.In geopolitical news, Reuters reported that Iran doubled down on its support for Hezbollah while demanding that Israel retreat from southern Lebanon. Iran said it launched warning missiles and drones at US warships in the Gulf of Oman, accusing Washington of disrupting maritime traffic and detaining oil tankers.

^DAX$SRT.F$SRT3.F

Asia Markets108d ago

UK Equities Close Little Changed; HSBC Unit Faces Criminal Charges in France

London's FTSE 100 closed 0.07% in the green on Friday amid the release of the Bank of England's Decision Maker Panel survey.The survey, conducted May 8 to 22, received 2,086 responses from chief financial officers of small, medium and large businesses in the UK. Results showed that firms expect the year-ahead consumer price index in the country to increase 3.7% in the three months to May.Berenberg said the survey boosted confidence that higher energy prices will not trigger a price-wage spiral despite soft demand and a weak labor market. "We stand by our forecast that the BoE will not raise interest rates as investors expect, but instead resume cuts by year end," Berenberg added.Meanwhile, average house prices in the UK dipped 0.1% month over month in May, in line with the decline in the previous month, according to data from Halifax. Year over year, average house prices in the UK rose 0.5% in May, compared with the 0.4% gain in April.In corporate news, France's National Financial Prosecutor's Office filed charges of organized money laundering and conspiracy to commit offenses such as embezzlement of public funds, breach of trust, or bribery of a public official against HSBC's (HSBA.L) Swiss unit. The charges relate to suspicions that HSBC Private Bank Suisse helped Lebanon's former central bank chief to embezzle more than $300 million between 2002 and 2015.The banking group toldit cannot comment on a legal matter and will continue to cooperate with the ongoing investigation. At closing, its stock declined 0.45%.On the geopolitical front, Iran said it fired warning missiles and drones toward US warships in the Gulf of Oman after accusing Washington of interfering with maritime traffic and seizing oil tankers, while US-Iran diplomatic efforts showed little sign of progress. Oman said operations at its Mina al Fahal oil export terminal were continuing normally despite earlier reports of disruptions.

FTSE 100$HSBA.L

Asia Markets108d ago

European Stocks Close Mixed Friday; GDP Shrinks in EU, Euro Area in Q1

The European stock markets closed mixed Friday as the Stoxx Europe declined 0.2%, Germany's DAX was down 0.6%, the FTSE 100 gained 0.2%, France's CAC was off 0.3%, and the Swiss Market Index increased 0.3%.Seasonally adjusted GDP declined by 0.2% in the euro area and by 0.1% in the EU in Q1, compared with the previous quarter, according to estimates from Eurostat, the statistical office of the European Union. GDP had increased by 0.2% in both areas in Q4 of 2025.Denmark registered the highest growth in Q1 at 1.9%, while the largest contraction was in Ireland at 12.1%.The UK's Competition and Markets Authority said Friday it is investigating Microsoft over whether the technology giant should be designated as having Strategic Market Status in its business software ecosystem under the country's digital markets regime.The watchdog said it is examining Microsoft's position in the market and has launched customer research to understand how UK businesses purchase Microsoft software, the alternatives available to them, and how easily they can switch providers.In corporate news, HSBC's private banking unit in Switzerland has been formally implicated in allegations that it helped former Lebanese central bank governor Riad Salameh embezzle $330 million, Le Monde reported Thursday, citing unnamed sources involved in a French investigation.After two days of interrogations, two judges overseeing the proceedings charged the HSBC Private Bank Suisse with money laundering and conspiracy to commit offenses including embezzlement of public funds, breach of trust, or bribery of a public official, the report said.HSBC toldin an email that it declines to comment on a legal matter, but added that they are continuing to cooperate in an ongoing investigation.Shares of HSBC declined 0.2% in London.BP agreed to subscribe for 10 million British pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said Thursday.The debt will mature in 4 years and carry an interest rate of the compounded daily SONIA plus 3% annually, the company said.Shares of the British oil and gas company gained 0.2% in London.Eni said Friday it has signed a petroleum exploration, development and production license agreement with the government of Gambia for the block A1 offshore the republic.The company said the deal marks its entry into Gambia.Shares of Eni edged 0.1% higher in Milan.

Asia Markets108d ago

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

European equities traded in the US as American depositary receipts were tracking lower late Friday morning, falling 0.85% to 1,882.19 on the S&P Europe Select ADR Index, which is up 0.9% for the week so far.From continental Europe, the gainers were led by internet ad firm Criteo (CRTO) and consumer goods company Unilever (UL), which rose 2.1% and 2% respectively. They were followed by biopharmaceutical companies argenx (ARGX) and Cellectis (CLLS), which were up 1.8% and 0.7% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which dropped 8.3% and 7.2% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and telecommunications company Ericsson (ERIC), which lost 5.4% and 2.9% respectively.The gainers from the UK were led by biotech firm Trinity Biotech (TRIB) and alcoholic beverage company Diageo (DEO), which advanced 4.5% and 2.4% respectively. They were followed by tobacco company British American Tobacco (BTI) and educational publisher Pearson (PSO), which increased 2.1% and 1.9% respectively.The decliners from the UK and Ireland were led by biotech firm Autolus Therapeutics (AUTL) and mining company BHP Group (BHP), which lost 6.3% and 5.3% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which dropped 3% and 2.2% respectively.

$AKTX$ARGX$AUTL$BHP$BTI$CLLS$CRTO$DBVT$DEO$ERIC$NOK$PSO$SLN$SQNS$TRIB$UL

Asia Markets108d ago

Asian Equities Traded in the US as American Depositary Receipts Fall in Friday Trading

Asian equities traded in the US as American depositary receipts were falling 2.14% Friday morning to 2,866.84 on the S&P Asia 50 ADR Index. Despite the sharp loss, the index is still up about 0.5% for the week so far.From North Asia, the gainers were led by healthcare platform 111 (YI) and lender Shinhan Financial Group (SHG), which rose 4.4% and 3.8% respectively. They were followed by travel company Tuniu (TOUR) and lender CNFinance (CNF), which were up 2.2% and 0.3% respectively.The decliners from North Asia were led by Eason Technology (DXF) and semiconductor company Himax Technologies (HIMX), which shed 36% and 9% respectively. They were followed by video display maker LG Display (LPL) and semiconductor firm ASE Technology (ASX), which fell 8.4% and 7% respectively.From South Asia, pharmaceutical company Dr. Reddy's Laboratories (RDY) increased 0.8%.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and Canaan (CAN), which dropped 5.7% and 5.3% respectively. They were followed by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which lost 3.2% and 2.9% respectively.

$ASX$CAN$CNF$DXF$HIMX$LPL$RDY$SE$SHG$TDTH$TLK$TOUR$YI

Asia Markets108d ago

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

US equity futures were mostly lower pre-bell Friday as a sell-off in tech stocks continued and the US-Iran conflict entered its fourth month.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.5%, and Nasdaq futures were 1.2% lower.Broadcom (AVGO) shares were down 2% in premarket activity after plunging 12.6% on Thursday, joining a broader stock sell-off in the semiconductor industry.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war. The ceasefire between the two nations continues to be fragile, with attacks exchanged earlier in the week.Traders took note of the latest round of earnings, with Ciena (CIEN) reporting higher fiscal Q2 adjusted net income and revenue.Oil prices were marginally lower, with front-month global benchmark North Sea Brent crude down 0.1% at $94.93 per barrel and US West Texas Intermediate crude 0.1% lower at $92.95 per barrel.The May national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.3% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was steady in Europe's early afternoon session.In equities, ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as traders continued unloading stocks in the semiconductor sector. ARM shares fell 5.5%, Micron stock was down 4.1%, and Marvell shares dropped 3.5%. Lululemon Athletica (LULU) stock was down 11% after the company reported a decline in fiscal Q1 earnings and trimmed its 2026 outlook.On the winning side, ServiceTitan (TTAN) stock was up 13% after the company posted fiscal Q1 results that surpassed analysts' expectations and raised its fiscal 2027 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$CIEN$LULU$MRVL$MU$TTAN

Asia Markets108d ago

Emirati Equities End Week Upbeat; Dubai's Aman Soars on Return to Q1 Profit

Shares in the United Arab Emirates closed Friday's trading session on a positive note, shrugging off volatile oil prices and continued uncertainty surrounding a peace deal between the US and Iran.At the close of trading, the FTSE ADX General Index was up 0.304%, while the DFM General Index gained 0.862%.Dampening sentiment is Hezbollah's rejection of the US-brokered ceasefire between Lebanon and Israel on Thursday and its demands for a complete withdrawal of Israeli troops from the region. The ceasefire is Iran's essential condition for any peace agreement with the US."While there are few signs of progress in US-Iran talks, the oil market continues to trade on expectations of an imminent deal that would resume flows through the Strait of Hormuz. This seems overly optimistic as Hezbollah rejects the Lebanon-Israel ceasefire. This development will not help US-Iran negotiations," ING analysts wrote.Oil prices edged down, reversing three consecutive gains despite the latest regional developments, with Brent crude oil futures trading at nearly $94.99 per barrel at 3:02 pm UAE time, down 0.04% from the previous day.On the corporate front, shares of Alef Education (ADX:ALEFEDT) closed 1.02% higher after it finalized a two-year initiative to migrate its digital learning ecosystem to Microsoft Azure.Dubai Islamic Insurance & Reinsurance (DFM:AMAN), d/b/a Aman, reported a return to profit in the first quarter. Shares of the insurance company were 8.36% in the green at the time of closing.

^DFMGI^FADGIADX:ALEFEDTDFM:AMAN

Asia Markets109d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes were mixed in midday trading on Thursday amid a decline in technology shares, government bond yields, and crude oil futures.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.7% lower; iShares US Technology ETF (IYW) lost 0.6%, and iShares Expanded Tech Sector ETF (IGM) was down 1.7%.The State Street SPDR S&P Semiconductor (XSD) slipped 0.7%, and iShares Semiconductor (SOXX) fell 2.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 2.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 8.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 8.2%.CommoditiesCrude oil dropped 3.6%, and the United States Oil Fund (USO) eased 3.7%. Natural gas gained 4.5%, and the United States Natural Gas Fund (UNG) was up 3.7%.Gold on Comex rose 1%, and the State Street SPDR Gold Shares (GLD) was up 0.8%. Silver added 0.5%, and iShares Silver Trust (SLV) gained 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.3%. The Vanguard Consumer Staples ETF (VDC) added 0.5%, and iShares Dow Jones US Consumer Goods (IYK) gained 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.4%. VanEck Retail ETF (RTH) advanced 1.1%, and the State Street SPDR S&P Retail (XRT) rose 0.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed up 2.9%, iShares US Healthcare (IYH) added 2.8%, and Vanguard Health Care ETF (VHT) rose 2.9%. IShares Biotechnology ETF (IBB) advanced 2.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 1%. Vanguard Industrials Index Fund (VIS) was up 1%, while iShares US Industrials (IYJ) rose 1.4%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.8%, ProShares Ether ETF (EETH) shed 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.8% 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 Markets109d ago

Swiss Stocks Rise as Inflation Holds Steady Ahead of Rate Decision

The Swiss Market Index recovered from the previous day's losses, closing Thursday trading 0.93% higher, as inflation remained unchanged ahead of the Swiss National Bank's (SNBN.SW) rate decision on June 18.Switzerland's annual inflation rate was stable at 0.6% in May 2026, data from the Federal Statistical Office showed, below the consensus estimate of 0.8%. The latest reading marks the fastest rise since December 2024. On a monthly basis, consumer prices rose 0.2%, compared with the previous and expected growth of 0.3%, amid increasing housing rentals and prices in the hotel sector.In other economic news, the country's non-seasonally adjusted unemployment rate held steady at 3% in May, while the seasonally adjusted figure edged up to 3.1% from 3% in April, according to the State Secretariat for Economic Affairs.On the corporate front, Partners Group (PGHN.SW) expects growth in overall net assets under management to be slowed by its evergreen platform by 1% to 2% in the second half of 2026 amid "a period of heightened volatility" across open-ended evergreen fund flows. The private equity group, which gained 3.73%, also forecasts a similar effect for net overall AUM growth in full-year 2027."Partners Group has consistently communicated to clients and market participants that its evergreen vehicles are typically equipped with liquidity limits of up to 5% of [net asset value] per quarter, and that these limits would be enacted whenever redemption activity reached the designed threshold. As a result, [Partners Group Global Value SICAV] will operate the 5% quarterly liquidity limitation. The firm is prepared to enact the respective liquidity limitation mechanism across other funds," the company said.In geopolitical news, the US Department of State said Israel and Lebanon agreed to implement a ceasefire, contingent on a "complete cessation" of attacks by the Iran-backed armed group Hezbollah, among other conditions. However, a Reuters report later indicated Hezbollah has rejected the proposed ceasefire framework, while Israel signaled it does not plan to withdraw troops under the current terms.

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Asia Markets108d ago

US Equity Indexes Plummet as Dwindling Expectations for Monetary Policy Easing Decimate Mega-Cap Technology

Dow JonesNasdaq CompositeS&P 500$COO$LULU