Financial News · Live Terminal

Page 62 of 79

Swiss Stocks Close Week Flat; US Fed Ends Actions Against UBS, Credit Suisse

The Swiss Market Index was up 0.05% on Friday's close amid a quiet day of local economic news following the Ascension Day holiday.Sandoz Group (SDZ.SW) secured marketing authorization from the European Commission for its insulin lispro biosimilar Bysumlog to treat diabetes mellitus in adults and children, while its insulin aspart biosimilar Dazparda was approved for the treatment of the same condition in adults, adolescents, and children aged one year and above. Both injectable biosimilars are comparable in efficacy and safety to their reference medicines. At closing, the Swiss pharmaceutical major's stock was 3.36% in the red.Meanwhile, Berenberg left Zurich Insurance Group's (ZURN.SW) buy rating and price target of 656 francs unchanged following its first-quarter trading update, noting the insurer's "attractive" valuation and better-than-expected growth in gross premiums in its non-life insurance segment. Zurich's shares closed the session 0.46% higher."This strong commercial non-life gross premium growth is noteworthy, as we believe that it was achieved at attractive margins; for example, pricing in North America commercial improved modestly from -1% in 2025 to 0% in Q1 2026. Zurich in its results also indicated that the 7% growth in the midmarket may accelerate in H2 2026, as the new mid-market underwriters in the US gain traction," the research firm said in a note. "We believe that this strong gross premium growth will lead to strong operating profit growth. We believe that the strong rise in Zurich's solvency ratio from 259% at FY 2025 to 265% at Q1 2026, ahead of 261% consensus, reflects part of the benefit of higher earnings."In other news, the US Federal Reserve Board terminated enforcement actions against UBS Group (UBSG.SW) and its Credit Suisse units, effective Tuesday. This relates to the consent order and $268.5 million fine issued by the Fed to the Swiss group in July 2023, due to Credit Suisse's "unsafe and unsound counterparty credit risk management practices" with Archegos Capital Management. UBS fell 0.69%.Looking ahead, the upcoming week will see the first-quarter data for Switzerland's economic growth and industrial production.

^SSMI$SDZ.SW$UBSG.SW$ZURN.SW

Asia Markets129d ago

Germany's DAX Index Retreats Amid Reignited US-Iran Conflict Fears

German shares ended the trading week in the red, as the markets monitored geopolitical tensions in the Middle East and trade negotiations between the US and China.At Friday's closing, the blue-chip DAX index lost 2.07%.In a Thursday interview with Fox News, Trump said he is "not going to be much more patient" with Iran, urging the country to make a deal with Washington. Ongoing tensions in the Middle East and shipping disruptions in the Strait of Hormuz continued to support oil prices, adding to inflation and growth concerns. According to Deutsche Bank Research, Brent crude oil prices climbed another 1.21% overnight to $107.00 per barrel.Rystad Energy also warned about tightening jet fuel supplies in Europe as the Strait of Hormuz remains closed."Europe is not facing a tight market. It is facing a structural supply hole," Susan Bell, Rystad Energy's senior vice president of commodities - oil said. "Record US Gulf Coast exports of 110,000 [barrels per day] into Europe and a handful of Dangote cargoes are welcome, but they cover less than half the deficit."Back at home, the ifo Institute reported that business sentiment in Germany's residential construction sector deteriorated, as the industry navigates supply chain issues and rising capital costs fueled by geopolitical uncertainty. The business climate index plunged to -28.4 points in April 2026 from -19.3 points a month ago, marking its sharpest drop since April 2022.On the corporate front, Renk Group (R3NK.F) was down 2.68%, as Berenberg adjusted its price target and forecasts for the military and civilian propulsion systems company to incorporate anticipated drops in German vehicle orders."RENK's medium-term outlook is underpinned by a EUR16.5bn order pipeline. Germany accounts for less than one-fifth of the total, on our estimates, offering an attractive level of diversification. We err on the side of caution and lower our German vehicle order intake assumptions, and this results in minor cuts to our EPS estimates," Berenberg wrote. "We lower our price target to EUR72 (from EUR76) to reflect our lower estimates and lower peer multiples."Meanwhile, RWE (RWE.F) and Abu Dhabi Future Energy Co., d/b/a Masdar, secured approval from the UK Department for Energy Security and Net Zero to develop the Dogger Bank South West and Dogger Bank South East offshore wind farms off the northeast coast of England. The projects have a combined installed capacity of 3 gigawatts. The German energy group ended the session 2.30% lower.

^DAX$R3NK.F$RWE.F

Asia Markets129d ago

UK's FTSE 100 Slips into Red; Centrica Falls Amid British Gas Settlement Deal

British equities concluded the trading week in the red, with London's FTSE 100 down 1.72% on Friday's close, as investors assessed the latest corporate updates and the growing political uncertainty in the UK."Financial markets have responded to renewed UK political turmoil by ramping up bets on Bank of England tightening ... Almost three rate hikes are priced before year-end, almost identical to what's expected from the European Central Bank. We remain unconvinced. We're now forecasting one rate hike from the BoE in June, but only narrowly," ING said. "Though Prime Minister Keir Starmer is fighting on, investors are increasingly pricing a leadership contest that leaves Labour shifting left, loosening fiscal rules and increasing borrowing."In corporate news, Centrica's (CNA.L) British Gas subsidiary agreed to pay 20 million pounds sterling into a voluntary redress fund to settle a probe by the UK's Office of Gas and Electricity Markets, or Ofgem, into legacy prepayment meter practices. British Gas will also write off up to 70 million pounds in energy debt for customers in vulnerable situations as part of the settlement package. Centrica's shares lost 6.40% at closing."It is clear that British Gas fell short in its treatment of an unacceptable number of vulnerable customers who had a PPM installed without consent, and it's right that they've taken action to put things right. Because of our action customers will receive a substantial package of redress, compensation and debt write off," Ofgem Chief Executive Officer Tim Jarvis said.Meanwhile, Hiscox (HSX.L) jumped 12.32% to become the blue-chip index's top performer amid chatter that its Canadian peer Intact Financial Corp. is looking at potentially acquiring the London-listed specialty insurer, according to Insurance Post.The UK economic calendar was empty for the day, but the week ahead will see a barrage of private sector and economy-related data, including the April inflation rate figures, along with the S&P Global UK Manufacturing PMI data for May.

FTSE 100$CNA.L$HSX.L

Asia Markets129d ago

European Stocks Tracking Lower in Friday Trading; Lack of US-China Trade Deal Hits Tech Shares

The European stock markets were tracking lower in Friday trading as investors parse the results - or lack thereof - of President Trump's summit with Chinese leader Xi Jinping.The Stoxx Europe was falling 1.56, Germany's DAX was dropping 2%, the FTSE 100 was down 1.9%, France's CAC was losing 1.6%, and the Swiss Market Index was heading marginally lower.Technology stocks, particularly within the semiconductor sector, were falling sharply after Trump left China without sealing a deal regarding tech imports and exports. Semiconductor companies STMicroelectronics and Infineon were falling 4.9% and 4.4% on the CAC and DAX respectively, while ASML and BE Semiconductor Industries were declining 4.7% and 3.7% respectively in Amsterdam.In corporate news, HSBC has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported Friday, citing two sources familiar with the decision-making process.The London-listed lender announced plans last June to invest in its asset manager's private credit funds to expand in alternative lending, but the move has since been paused amid concerns over US private credit valuations and borrower risks, according to the report."We are committed to our asset management's offering in private credit funds," a HSBC spokesperson toldin an emailed statement.Shares of the British bank were down 2.5% in London.BP is contemplating selling certain natural gas assets in Egypt, Reuters reported Friday, citing sources familiar with the matter.The British oil and gas giant has yet to make a final decision regarding the move, according to the report.The company didn't immediately respond to' request for comment.Shares of BP were up 1.6% in London.Stellantis signed an agreement with Dongfeng Group to jointly manufacture Peugeot and Jeep vehicles in China, subject to customary conditions and approvals, the automaker said Friday.The joint venture will assemble two Peugeot new energy vehicles and two Jeep off-road models at a Wuhan plant starting in 2027, the company said.Shares of the automaker were falling 3.6% in Paris.Diageo will integrate its Africa and Europe operations into a single division amid an overhaul including major leadership changes, Bloomberg News reported Friday, citing an unnamed person familiar with the matter.Diageo did not immediately respond to' request for a comment.Shares of the alcoholic beverage company were up 2% in London.Endava said Friday it formed a strategic partnership with Tyl by NatWest to help modernize and expand the payments platform for Tyl customers.The company said the partnership would provide businesses with a more integrated payments experience by combining Endava's AI-based delivery tools and payments technology with Tyl's merchant services platform.Shares of the software firm were dropping more than 5% in Frankfurt.

Asia Markets129d ago

European Equities Traded in the US as American Depositary Receipts Down Sharply in Friday Trading

European equities traded in the US as American depositary receipts were sharply lower late Friday morning, falling 1.90% to 1,808.55 on the S&P Europe Select ADR Index, which is down 1.6% for the week so far.From continental Europe, the gainers were led by software firm SAP (SAP) and biopharmaceutical company Cellectis (CLLS), which were up 2.2% and 2.1% respectively. They were followed by internet advertising firm Criteo (CRTO) and accommodations booking site trivago (TRVG), which increased 1.6% and 1% respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and telecommunications company Nokia (NOK), which fell 5.2% and 4.7% respectively. They were followed by 3D printer company Materialise (MTLS) and pharmaceutical company Novo Nordisk (NVO), which lost 2.6% and 2.1% respectively.The gainers from the UK were led by biopharmaceutical company NuCana (NCNA) and software firm Endava (DAVA), which advanced 12.1% and 3.9% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and oil and gas company BP (BP), which rose 3.4% and 1% respectively.The decliners from the UK and Ireland were led by pharmaceutical company Silence Therapeutics (SLN) and utilities company National Grid (NGG), which dropped 8.8% and 7.9% respectively. They were followed by mining company BHP Group (BHP) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which were down 5.1% and 2.7% respectively.

$BDRX$BHP$BP$CLLS$CRTO$DAVA$MTLS$NCNA$NGG$NOK$NVO$SAP$SLN$SQNS$TRIB$TRVG

Asia Markets129d ago

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

Asian equities traded in the US as American depositary receipts were falling sharply Friday morning, shedding 1.58% to 2,858.67 on the S&P Asia 50 ADR Index, which is flat for the week so far.From North Asia, the gainers were led by biopharmaceutical company Zai Lab (ZLAB) and automotive company Honda Motor (HMC), which rose 3.3% and 1.5% respectively. They were followed by lender Mitsubishi UFJ Financial Group (MUFG), which was up 2.3%.The decliners from North Asia were led by real estate and digital security company Eason Technology (DXF) and video display maker LG Display (LPL), which tumbled 10% and 22% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and brand platform Baozun (BZUN), which dropped 7.3% and 5.7% respectively.From South Asia, the gainers were led by IT firm Infosys (INFY) and fintech firm Trident Digital Tech (TDTH), which advanced 3.3% and 2.5% respectively. They were followed by IT firm Wipro (WIT) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which increased 1.9% and 1.2% respectively.The decliners from South Asia were led by computer hardware maker Canaan (CAN) and IT company Sify Technologies (SIFY), which lost 8.1% and 3.4% respectively. They were followed by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which were off 1.8% and 0.7% respectively.

$BZUN$CAN$DXF$GRVY$HDB$HIMX$HMC$IBN$INFY$LPL$MUFG$RDY$SIFY$TDTH$WIT$ZLAB

Asia Markets129d ago

US Equity Futures Fall Pre-Bell as US-China Summit Ends With No Significant Policy Developments

US equity futures were falling pre-bell Friday as traders noted that the summit between President Donald Trump and Chinese President Xi Jinping ended with no significant policy developments.Dow Jones Industrial Average futures were 0.9% lower, S&P 500 futures were down 1.2%, and Nasdaq futures were 1.7% lower.The two world leaders agreed that the Strait of Hormuz should remain open, according to a US readout from a White House official. Trump said that China agreed to 200 planes from Boeing (BA), with the promise to buy 750 "if they do a good job with the 200." Details of the agreement were not immediately available, including when and which type of jets would be delivered, but the initial figure was smaller than 500-plane package expected by investors.Traders also digested the latest round of earnings, with Applied Materials (AMAT) posting higher fiscal Q2 earnings and revenue late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $108.34 per barrel and US West Texas Intermediate crude 3.2% higher at $104.43 per barrel.The New York Federal Reserve's Empire State manufacturing index rose to 19.6 in May from 11.0 in April, compared with expectations of a decrease to a reading of 7.2 in a survey compiled by Bloomberg.The April industrial production report, due at 9:15 am ET, is forecast to show a 0.3% increase following a 0.5% decline in the prior month.In other world markets, Japan's Nikkei closed 2% lower, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 1% lower. Meanwhile, the UK's FTSE 100 was down 2%, and Germany's DAX index was 2% lower in Europe's early afternoon session.In equities, Nvidia (NVDA), Micron Technology (MU), and Taiwan Semiconductor Manufacturing (TSM) were part of broader technology stock sell-offs as traders took profits after the group saw sharp gains of late. Nvidia shares were 3% lower, Micron stock was down 4.2%, and Taiwan Semiconductor shares fell 3%.On the winning side, Toyota Motor (TM) shares were up 1.7% after the company sought approval to build a new vehicle assembly line at its manufacturing plant in Texas as part of a $2 billion expansion, according to a Reuters report citing a filing. Figma (FIG) stock was up 7.2% after the company posted higher Q1 adjusted earnings and revenue that beat analysts' estimates. Magnum Ice Cream (MICC) shares rose over 11% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids to acquire the company.

Dow JonesNasdaq CompositeS&P 500$AMAT$BA$BX$FIG$MICC$MU$NVDA$TM$TSM

Asia Markets129d ago

UAE Stocks Close Busy Corporate Earnings Week Downbeat

Shares in the United Arab Emirates ended the week in the red as investors dissected the latest batch of corporate earnings reports from companies operating in the region.At the close of Friday trading, the FTSE ADX General Index was down 0.276%, while the DFM General Index declined 0.46%.Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, reported an increase in its first-quarter attributable profit despite lower revenues due to reduced sales in its oil and gas business. Al Wathba National Insurance Co.'s (ADX:AWNIC) net loss for the quarter declined year over year, backed by a 50% growth in insurance revenue. Shares of both companies closed the session flat.Dubai-listed Al Ansari Financial Services (DFM:ALANSARI) and National General Insurance (DFM:NGI) both recorded lower annual profits in the first quarter and closed 0.20% and 0.34% in the green, respectively.Meanwhile, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan directed Abu Dhabi National Oil Co., d/b/a Adnoc, to accelerate the delivery of the new West-East Pipeline project to curb the UAE's dependence on the Strait of Hormuz. The project will double Adnoc's export capacity through Fujairah and is expected to be operational in 2027.On the geopolitical front, US President Donald Trump and his Chinese counterpart Xi Jinping held a second day of talks in Beijing. Reuters reported Friday that China vowed not to supply Iran with military equipment and agreed on the latter not having nuclear weapons, as well as the need to open the Hormuz waterway."While we anticipated headlines from President Trump's Beijing visit indicating Chinese support for reopening the Strait, we still question how much capital they will deploy to resolve the stalemate. Despite the war's ongoing economic costs, it has also seemingly served China's strategic interests by compelling Washington to redeploy military assets that would be used for the defense of Taiwan to the Middle East. In addition, China has been able to deploy its vast energy stockpiles-both conventional and renewable-to bolster relations with neighbors," RBC Capital Markets said.

^DFMGI^FADGIADX:AWNICADX:TAQADFM:ALANSARIDFM:NGI

Asia Markets129d ago

S&P 500, Nasdaq Composite Break Records as Technology Boosts Risk Sentiment

US equity indexes rose as sector-topping technology shares pushed the S&P 500 and the Nasdaq to new peaks on Thursday, while China agreed that Iran should not control the Strait of Hormuz, the chokepoint to about a fifth of global crude oil flows.The Dow Jones Industrial Average climbed 0.8% to 50,063.46, trading close to its all-time high of 50,512.79. The Nasdaq advanced 0.9% to 26,635.22 after hitting a new high of 26,707.14 earlier in the session. The S&P 500 was up 0.8% to 7,501.24, after making a new record of 7,517.12.Technology was the standout gainer, up 1.9% at the close. Materials and real estate led the decliners.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, nine were from the technology sector, according to data compiled by Finviz. The top performer in this category was Cisco Systems (CSCO), up 13%, followed by chipmakers Broadcom (AVGO) and Nvidia (NVDA).Cisco, also the leader on the S&P 500, the Nasdaq, and the Dow, overnight reported fiscal Q3 earnings and revenue that topped market expectations and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Meanwhile, about 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources. Shares of the semiconductor manufacturer jumped 4.4%, the second-biggest gainer on the Dow.Cerebras Systems (CBRS) soared 68% in its debut after the artificial intelligence chipmaker priced its initial public offering of 30 million shares at $185 apiece, higher than the prior upgraded range of $150 to $160 set by the company late Wednesday.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported, matching the consensus in a survey compiled by Bloomberg."Despite elevated prices at the pump and elsewhere, consumers continue to prove resilient thanks to decent wage gains, savings, and credit cards to support spending," Lindsey Piegza, chief economist at Stifel, said in a note. "That being said, consumers cannot perpetually withstand elevated costs."Business inventories rose 0.9% in March, as expected in a survey compiled by Bloomberg and following a 0.4% increase in the previous month.US Treasury yields were mixed, with the 10-year steady at 4.49%. The two-year rate rose 2.3 basis points to 4.01%.West Texas Intermediate crude oil futures rose 1% to $101.99, and Brent crude futures climbed 0.9% to $106.61.Chinese President Xi Jinping has pledged not to provide military equipment to Iran, CNN reported, citing President Donald Trump. Xi, however, warned the US that a mishandling of Taiwan could plunge bilateral relations to a "dangerous place," according to reports from CNN and Reuters.The two leaders agreed that the crucial Strait of Hormuz should remain a free waterway and Iran shouldn't be able to exact payments for the use of shipping lanes, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks.In precious metals, gold futures declined 1.1% to $4,654.3, and silver futures slumped 6.2% to $83.81.

Dow JonesNasdaq CompositeS&P 500$AVGO$CBRS$CSCO$NVDA

Asia Markets129d ago

S&P 500, Nasdaq Composite Break Records as Technology Trade Runs Strong

US equity indexes rose after midday Thursday as strong gains in technology helped the S&P 500 and the Nasdaq hit fresh all-time highs.The Dow Jones Industrial Average climbed 0.7% to 50,022.1, with the Nasdaq up 0.6% to 26,555.5 and the S&P 500 higher by 0.6% to 7,486.2. Technology and energy led the gainers, while materials and real estate were among the decliners.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, eight were from the technology sector. The top performer was Cisco Systems (CSCO), up 12%, which made it the leader on the S&P 500, the Nasdaq, and the Dow.Cisco reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg."Despite elevated prices at the pump and elsewhere, consumers continue to prove resilient thanks to decent wage gains, savings, and credit cards to support spending," Lindsey Piegza, chief economist at Stifel, said in a note. "That being said, consumers cannot perpetually withstand elevated costs."Business inventories rose 0.9% in March, as expected in a survey compiled by Bloomberg and following a 0.4% increase in the previous month.Most US Treasury yields fell, with the 10-year down three basis points to 4.45%. The two-year rate was steady at 3.98%.West Texas Intermediate crude oil futures were steady at $101.01, and Brent crude futures slipped 0.3% to $105.27.In precious metals, gold futures declined 0.4% to $4,687.3, and silver futures slumped 4.4% to $85.41.

Dow JonesNasdaq CompositeS&P 500$CSCO

Asia Markets130d ago

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

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 0.9%.US equity indexes rose in midday trading on Thursday as technology topped sector charts, pushing the S&P 500 and the Nasdaq to intraday all-time highs.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 1.6%; iShares US Technology ETF (IYW) gained 1.1%, and iShares Expanded Tech Sector ETF (IGM) was up 1.4%.The State Street SPDR S&P Semiconductor (XSD) added 0.1%, and iShares Semiconductor (SOXX) was up 0.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.3%.CommoditiesCrude oil fell 0.1%, and the United States Oil Fund (USO) lost 0.3%. Natural gas rose 1.1%, and the United States Natural Gas Fund (UNG) added 1.6%.Gold on Comex eased 0.2% and the State Street SPDR Gold Shares (GLD) slipped 0.3%. Silver dropped 4.7%, and iShares Silver Trust (SLV) fell 3.2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.4%. The Vanguard Consumer Staples ETF (VDC) added 0.5%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.4%. VanEck Retail ETF (RTH) fell 0.1%, and the State Street SPDR S&P Retail (XRT) rose 1.2%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell fractionally, iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were marginally down. IShares Biotechnology ETF (IBB) shed 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.4%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) gained 2.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 2.4%, ProShares Ether ETF (EETH) was up 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.4% 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 Markets130d ago

German Shares Jump; Siemens Rises on Mermec Asset Acquisition

German equities rose on Thursday, as investor attention remained focused on the ongoing two-day summit between US President Donald Trump and Chinese President Xi Jinping.Amid a quiet day for local economic news, the blue-chip DAX index ended the trading day 1.32% in the green.Trump and Xi are expected to discuss trade, technology, Iran, and Taiwan, with investors monitoring potential deals on tariffs and artificial intelligence. Semiconductor stocks rallied globally after Reuters reported, citing sources familiar with the matter, that the US cleared Nvidia (NVD.F) to sell its H200 AI chips to 10 Chinese tech companies, including Alibaba, ByteDance, and JD.com.Against this backdrop, German semiconductor manufacturer Infineon Technologies (IFX.F) became the blue-chip index's best performer, climbing 5.76%, while Nvidia's Frankfurt-listed shares gained 4.43%.In other corporate updates, Siemens' (SIE.F) mobility division agreed to buy several core units of Italian railway signaling systems company Mermec Group to bolster its international rail technology portfolio. The acquisition specifically involves Mermec's businesses in Italian wayside signaling, electrification, telecommunication, diagnostics, analytics, and worldwide data infrastructure. The German technology conglomerate gained 2.59% at close.Meanwhile, RBC Capital Markets said Allianz (ALV.F) continues to deliver at a "high level" after the German insurer and asset manager reported that its first-quarter operating profit climbed 6.6% to a record level of 4.52 billion euros and affirmed it remains on track to hit its full-year 2026 operating profit target of 17.4 billion euros, plus or minus 1 billion euros. The stock climbed 2.15%."Allianz's scale and diversification again paid dividends in Q1, with [property and casualty and asset management] in particular well positioned in the current macro environment. Modestly higher inflation expectations seem a net positive for the company. We are now towards the upper-end of FY26 operating profit guidance, with low double-digit implied upside to our unchanged [target price of 400 euros], a premium multiple to composite peers," the research firm wrote, with a sector perform rating.

^DAX$ALV.F$IFX.F$NVD.F$SIE.F

Asia Markets130d ago

European Stocks Advancing in Thursday Trading; Tech Stocks Rally After Xi Says China Will 'Open Wider'

The European stock markets were tracking higher in Thursday trading following media reports that China and the US have agreed that Iran can't have nuclear weapons or control of the Strait of Hormuz.The Stoxx Europe was rising 0.7%, Germany's DAX was climbing 1.3%, the FTSE 100 was up 0.5%, France's CAC was increasing 0.9%, and the Swiss Market Index was advancing 0.7%.Chinese President Xi Jinping also told the chief executives of Apple, Tesla, Nvidia, and other large companies that China will "open wider" to doing business, according to media reports.The news buoyed European tech stocks as semiconductor companies Infineon and STMicroelectronics were climbing 7% and 6% respectively in Paris and Frankfurt, while ASML was up close to 3% in Amsterdam. Software firms SAP and Dassault Systemes were gaining 3.5% and 2.5% on the DAX and CAC respectively.UK real gross domestic product expanded an estimated 0.6% in Q1, following revised growth of 0.2% in Q4 of 2025, according to the Office for National Statistics. The GDP for Europe's second-largest economy grew 0.3% in March, 0.4% in February, and was stagnant in January.In corporate news, Telefonica reported Q1 adjusted earnings from continuing operations Thursday of 0.07 euro ($0.07) per share, down from 0.10 euro a year earlier.Revenue for the quarter ended March 31 was 8.13 billion euros, up from 8.09 billion euros a year earlier. Analysts surveyed by FactSet expected 8.15 billion euros.Shares of the Spanish telecommunications operator were surging close to 7% in Madrid.AstraZeneca said Thursday that a combination of its Imfinzi drug and enfortumab vedotin showed significant improvements in event-free and overall survival rates in a phase 3 muscle-invasive bladder cancer trial.The mid-term analysis of the study focused on patients who were unable to receive or declined standard cisplatin chemotherapy by itself, the company said.Shares of the British pharmaceutical company were little changed in London, edging 0.1% higher.

Asia Markets130d ago

UK Stocks Climb After GDP Report; 3i Group Retreats

London's FTSE 100 closed 0.36% higher on Thursday as earnings from corporate heavyweights poured in, while the latest gross domestic product data surprised to the upside.The British economy expanded 0.3% month over month in March, following a revised 0.4% growth in February, the Office for National Statistics said. Analysts expected a 0.2% decline during the month."The UK economy's strong start to the year was probably part truth, part statistical illusion," Berenberg said. "Nonetheless, that gain alongside the pickup in surveys of economic activity suggest that the economy regained some momentum before the Iran war."In corporate news, Legal & General (LGEN.L) became the top gainer at 6.16% on the index after Chief Executive António Simões told the Financial Times that the financial services group was not engaged in sale talks despite growing market speculation over its future.National Grid (NG.L), up 1.14%, outlined its capital investment plans of 70 billion pounds sterling in five years through fiscal 2031, including 31 billion pounds for UK electricity transmission. The utility's attributable profit for fiscal 2026 rose year over year to 3.24 billion pounds from 2.90 billion pounds."NG reported solid FY25/26 results, in line with consensus. EPS guidance for 26/27 is 13-15%. The group reiterates longer term EPS and asset growth guidance," Barclays noted, raising its price target with a reiterated overweight rating.Meanwhile, 3i Group (III.L) was the worst performer on the blue-chip index, falling 12.76%, after reporting weaker trading at its main investment, Action, citing cautious consumers in France and lower traffic in Germany amid heightened Middle East tensions. The private equity and venture capital company also logged annual growth in profit and gross investment return for the 12 months ended March 31."3i reported FY25 results and gave a trading update on Action which will likely disappoint with deteriorating [like for like], weak France and Germany and margin compression," Bernstein said. "The only sweetener was the announcement of a GBP750m buyback (c. 3% market cap.; higher than the GBP500m expected)."

FTSE 100$III.L$LGEN.L$NG.L

Asia Markets130d ago

European Equities Traded in the US as American Depositary Receipts Tracking Higher in Thursday Trading

European equities traded in the US as American depositary receipts were moving higher late Thursday morning, rising 0.43% to 1,852.92 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by semiconductor company Sequans Communications (SQNS) and 3D printer company Materialise (MTLS), which climbed 11.4% and 10.4% respectively. They were followed by lender ING Group (ING) and biopharmaceutical company Cellectis (CLLS), which increased 2.3% and 2.1% respectively.The decliners from continental Europe were led by pharmaceutical company Novo Nordisk (NVO) and internet browser company Opera (OPRA), which fell 1.7% and 1.6% respectively. They were followed by oil and gas company Eni (E) and lender Banco Santander (SAN), which were off 1.3% and 0.5% respectively.The gainers from the UK were led by biopharmaceutical companies NuCana (NCNA) and Akari Therapeutics (AKTX), which advanced 9.6% and 3.2% respectively. They were followed by communications company WPP (WPP) and lender Barclays (BCS), which were up 2.8% and 2.4% respectively.The decliners from the UK and Ireland were led by biotech firm Autolus Therapeutics (AUTL) and mining company BHP Group (BHP), which dropped 9.9% and 2.1% respectively. They were followed by biopharmaceutical company Amarin (AMRN) and pharmaceutical company AstraZeneca (AZN), which were down 1.3% each.

$AKTX$AMRN$AUTL$AZN$BCS$BHP$CLLS$E$ING$MTLS$NCNA$NVO$OPRA$SAN$SQNS$WPP

Asia Markets130d ago

Asian Equities Traded in the US as American Depositary Receipts Higher in Thursday Trading

Asian equities traded in the US as American depositary receipts were higher Thursday morning, rising 0.37% to 2,913.12 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by Eason Technology (DXF) and Honda Motor (HMC), which advanced 63% and 4.2% respectively. They were followed by video display maker LG Display (LPL) and media company Phoenix New Media (FENG), which were up 3.6% and 2.9% respectively.The decliners from North Asia were led by automobile marketplace Autohome (ATHM) and video streaming service Bilibili (BILI), which fell 9.1% and 7% respectively. They were followed by tech company Baidu (BIDU) and internet and data center services provider VNET Group (VNET), which were down 5.4% and 2.1% respectively.From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and HDFC Bank (HDB), which climbed 3.8% and 2.9% respectively. They were followed by ICICI Bank (IBN) and IT firm Wipro (WIT), which increased 1.2% and 1.1% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and Canaan (CAN), which dropped 5.6% and 2.7% respectively. They were followed by IT firm Infosys (INFY) and Telekomunikasi Indonesia (TLK), which lost 1.9% and 0.5% respectively.

$ATHM$BIDU$BILI$CAN$DXF$FENG$HDB$HMC$IBN$INFY$LPL$RDY$SE$TLK$VNET$WIT

Asia Markets130d ago

US Equity Futures Rise Pre-Bell After S&P 500, Nasdaq Set New Highs Amid US-China Meeting

US equity futures were rising pre-bell Thursday as technology stocks drove new record highs for the S&P 500 and the Nasdaq Composite while traders kept a close eye on the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping.Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.On Wednesday, the S&P 500 advanced nearly 0.6% to close at 7,444.25, while the Nasdaq Composite rose 1.2% to end at 26,402.34, with both setting new closing records. Cisco Systems (CSCO) shares were up 15% after the company posted higher fiscal Q3 results and announced restructuring plans that included lay-offs of nearly 4,000 employees.At the start of a two-day summit, Xi told Trump that US-China trade talks were progressing positively, but warned that disagreement over Taiwan could lead to a dangerous situation and even cause conflict.Traders also mulled the latest round of earnings, with Brookfield (BN) reporting higher Q1 distributable earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $104.90 per barrel and US West Texas Intermediate crude 0.7% lower at $100.33 per barrel.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in survey of analysts compiled by Bloomberg.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 1.5% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, Nvidia (NDA), Applied Materials (AMAT), and Marvell Technology (MRVL) joined Cisco in an upswing of technology stocks that lifted the market. Nvidia stock was up 2.1%, Applied Materials shares rose 1.9%, and Marvell stock was up 2.8%.On the losing side, Alibaba (BABA) and JD.com (JD) shares were down 3.1% and 1.7%, respectively, after a Reuters report said that they were among the roughly 10 Chinese companies that have secured US clearance to purchase Nvidia's H200 artificial intelligence chip, without a single delivery being made so far.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CSCO$JD$MRVL$NVDA

Asia Markets130d ago

Tadawul Shares End Week Lower; Saudi Arabia's April Inflation Cools

The Tadawul All Share Index ended the week lower at 0.22% in the red as investors assessed Saudi Arabia's latest economic data.According to the General Authority for Statistics, the kingdom's annual inflation rate softened year over year to 1.7% in April from 1.8% in the prior month. On a monthly basis, the index edged up 0.2%."On a monthly basis, the CPI in April 2026 recorded a relative increase of 0.2% compared to March 2026, as the prices of the food and beverage division increased by 0.8% driven by a 0.9% increase in the food group. The prices of the housing, water, electricity, gas and other fuels division increased by 0.3% the transportation division by 0.3%," the statistics agency said in its report.The country's wholesale prices had a steady 3.3% growth in April. Meanwhile, freshly released producer price index data for the kingdom showed a 5.5% year-over-year increase in March. Month over month, the index saw a 4.7% rise.In international news, market watchers are focusing on the results of US President Donald Trump's state visit to China. The meeting between Trump and his Chinese counterpart, Xi Jinping, will focus on the trade war, the critical minerals deal, AI, their stances on Taiwan, and the Middle Eastern conflict.Back at home and on the corporate front, Saudi Fisheries Co. (SASE:6050) will get 1.6 million Saudi riyals after the Primary Court of Muscat Governorate in Oman ruled in favor of the company regarding a lawsuit for a fishing contract with Ocean Fish Co. Shares of Saudi Fisheries ticked down 0.10% at closing.

^TASISASE:6050

Asia Markets130d ago

UAE Shares Down as Investors Weigh US-China Talks

Stock trading in the United Arab Emirates closed lower as investors closely monitored the meeting between the US and China, hoping for signs of de-escalation in the Iran war.At the close of Thursday trading, the FTSE ADX General Index ended little changed at 0.006% in the red, while the DFM General Index lost 0.413%.Dominating headlines all over the world are the bilateral talks between US President Donald Trump and his Chinese counterpart, Xi Jinping. Reuters reported, citing a White House readout, that both leaders agreed on the opening of the Strait of Hormuz and Iran not having a nuclear weapon."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran. Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz," ING said.On the oil front, global supply dropped by an additional 1.8 million barrels per day in April, bringing the total losses since February to 12.8 million barrels per day, the International Energy Agency, or IEA, said in its monthly oil market report published on Wednesday."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," IEA commented. "While demand may swing back to growth towards the end of the year if a deal to end the war is agreed that allows flows through the Strait of Hormuz to gradually resume from 3Q26, as is assumed in this Report, supply will likely be slower to recover. As a result, the oil market remains in deficit until the final quarter of the year."Closer to home and on the corporate front, Aldar Properties (ADX:ALDAR) acquired a residential-for-rent community comprising 312 homes in Dubai for 1.1 billion Emirati dirhams. Shares of the real estate closed the session 1.14% lower.Elsewhere, Dubai-listed investment companies Watania International Holding (DFM:WATANIA) and Ekttitab Holding (DFM:EKTTITAB) gained 0.65% and 0.23%, respectively, despite reporting higher attributable losses for the first quarter.

^DFMGI^FADGIADX:ALDARDFM:EKTTITABDFM:WATANIA

Asia Markets130d ago

New Zealand Shares Fall; Synlait Milk CEO Resigns

New Zealand shares ended lower on Thursday despite a higher Wall Street close, followed by a broad-based rise in Asian shares.The S&P/NZX 50 Index fell 0.29% or 37.99 points to close at 13,025.07.On Wednesday, the Nasdaq Composite moved up by 1.2%, the S&P 500 gained 0.6%, while the Dow Jones Industrial Average fe 0.1%."Markets are trying to run two playbooks ⁠at once: AI and earnings [say] buy growth, but geopolitics and energy prices are quietly [rewriting] the inflation trajectory in the background," said Saxo Chief Investment Strategist Charu Chanana, as quoted by Reuters.In domestic news, New Zealand national home sales fell 7.9% year-on-year to 6,262 in April 2026, though the seasonally adjusted sales count declined a more moderate 2.1% compared to March, according to data by the Real Estate Institute of New Zealand (REINZ).In corporate news, Synlait Milk (ASX:SM1, NZE:SML) said that Chief Executive Richard Wyeth has resigned and will remain with the company until June 30 to support the transition process.Vista Group International (ASX:VGL, NZE:VGL) said that its existing client, Regal Cineworld Group, will transition its 88 Cineworld cinemas and more than 950 screens across the UK to Vista Cloud's digital enablement platform this year, following the successful migration of 25 Picturehouse Cinema sites in 2025.

^NZ50ASX:SM1ASX:VGLNZE:SMLNZE:VGL

Showing 1221-1240 of 1573

Asia Markets129d ago

S&P 500, Nasdaq Composite Break Records as Technology Boosts Risk Sentiment

Dow JonesNasdaq CompositeS&P 500$AVGO$CBRS$CSCO$NVDA