Financial News · Live Terminal

Page 72 of 79

Swiss Market Index Extends Losing Streak; ABB Shares Gain

Swiss stocks extended their losses to a third day, with the Swiss Market Index down 0.51% on Wednesday's close, as investors assess economic data releases while keeping a close eye on geopolitical developments in the Middle East."[President Donald Trump] extended the ceasefire indefinitely just before its expiry after Iran refused further negotiations due to unreasonable US demands. This marks a U-turn in tone, as Trump had earlier ruled out an extension and hinted at military action," Danske Bank said. "With Iran reportedly not requesting the ceasefire and the Strait of Hormuz issue still unresolved, Iran appears to hold the upper hand at present."Elsewhere and in economic news, the UK's annual inflation rate accelerated to 3.3% in March from 3% in February, while the annual core inflation rate edged down to 3.1% from 3.2%.Over to corporates, ABB (ABBN.SW) delivered a year-over-year jump in first-quarter attributable net income to $1.32 billion from $1.10 billion. Revenue climbed 18% over the period to $8.73 billion, bolstered by double-digit growth in orders in all of its regions amid geopolitical uncertainties. The Swiss electrification and automation company's shares closed the session 3.40% higher.Meanwhile, the Swiss Federal Council eased its proposed changes to capital rules for banks in the country, including systemically important bank UBS Group (UBSG.SW), with the package of measures resulting in the lender increasing its common equity tier 1 capital by $20 billion. The council said it is in agreement with the Swiss National Bank (SNBN.SW) and financial regulator FINMA regarding the proposed solution, which is "more moderate than planned, due to the results of the consultation procedure.""UBS continues to strongly disagree with the proposed package, which is extreme, lacks international alignment and disregards concerns expressed by the majority of respondents to the government's consultations," the banking group said in response to the government's announcement. "If adopted, the proposed measures would have far-reaching consequences for the Swiss economy ... UBS looks to the parliamentary deliberation process in connection with the proposed treatment of foreign participations to take account of the concerns raised by many stakeholders during the democratic consultation process." The stock was up 0.15% at closing.

^SSMI$ABBN.SW$SNBN.SW$UBSG.SW

Asia Markets151d ago

German DAX Index Blinks Red; Deutsche Telekom Shares Down on Merger Rumors

German equities fell Wednesday, as investors assessed the federal government's spring economic forecast alongside a flurry of corporate updates.At closing, the blue-chip DAX index was down 0.31%.Federal Minister for Economic Affairs and Energy Katherina Reiche said the government now expects Germany's gross domestic product growth at 0.5% in 2026, down from the prior forecast of 1%, as energy and raw material prices surge amid the US-Iran conflict. In 2027, real GDP growth is projected to slightly accelerate at 0.9%, against the previous estimate of 1.3%. Inflation for the two-year period is seen at 2.7% and 2.8%, respectively.Speaking of the Middle East war, US President Donald Trump announced an indefinite ceasefire with Iran, the de-escalation remains tenuous, with the move viewed as a unilateral declaration without confirmation of compliance from Tehran or Tel Aviv. Trump also confirmed the US Navy would continue to block Iranian ports and coastlines."Three weeks ago, we saw a marked shift in the US-Iran War, from its 'kinetic' phase (bombing, etc.) to its 'economic' phase (mainly, the US's blockade of the Strait of Hormuz). This shift hasn't restored safe passage in the Strait yet, but traders are comforted, perhaps because the economic war attests to the US's strength (the navy's power to enforce a blockade and 'starve' Iran). The feeling is that this is a 'superior' strategy, which could lead to concessions from Iran earlier than otherwise," Macquarie said. "But controlling Hormuz also makes common cause with the US's recent attempts to control other critical 'straits', such as Gibraltar, Malacca, the Greenland-Iceland-UK Gap (GIUK), and Panama. If so, the US's long-term 'goal' may be to prevent China's hegemony by controlling all the physical nodes through which China's economy depends for its flows. Against that goal, having lower oil prices is of secondary importance to the US."On the corporate side, German semiconductor company Infineon Technologies (IFX.F) surged to one of the top spots of the blue-chip DAX, rising 3.23%, benefiting from a sector-wide rally after Dutch computer chip maker ASM International and electrification and automation company ABB reported strong first-quarter figures amid the ongoing artificial intelligence investment boom.Meanwhile, Deutsche Telekom (DTE.F) is weighing a potential merger with its US subsidiary, T-Mobile US, in a move to streamline the group's corporate and operational structure, according to a Bloomberg report. The deal would reportedly involve the creation of a new holding company designed to absorb the shares of both the German telecommunications company and its 53%-owned US unit. Deutsche Telekom was the worst performer, dropping 4.55%.

^DAX$DTE.F$IFX.F

Asia Markets151d ago

FTSE 100 Falls Amid Ceasefire Extension; UK Inflation Rate Rises

London's FTSE 100 was downbeat on Wednesday, closing 0.21% lower, after the US extended its ceasefire with Iran, while the UK inflation matched expectations in March."In the Middle East conflict, Trump extended the ceasefire indefinitely just before its expiry after Iran refused further negotiations due to unreasonable US demands. This marks a U-turn in tone, as Trump had earlier ruled out an extension and hinted at military action. With Iran reportedly not requesting the ceasefire and the Strait of Hormuz issue still unresolved, Iran appears to hold the upper hand at present," Danske Bank said.In economic news back home, Britain's annual inflation rate climbed to 3.3% in March from 3% in February, according to data from the Office for National Statistics. The latest reading aligned with the consensus estimate."Surging petrol prices explained all of the rise in CPI inflation from 3.0% yoy in February to 3.3% yoy in March, as forecasters expected," Berenberg said. "Away from energy prices inflation behaved well, as shown by the unexpected drop in the core inflation rate from 3.2% yoy to 3.1% yoy (Bloomberg consensus 3.2%). We doubt that CPI inflation will stay above 3% for much longer. Although petrol prices rose further in April, the resulting upward pressure on the headline rate should be more than offset by government intervention and helpful base effects."In corporate news, distribution and outsourcing group Bunzl (BNZL.L) gained 2.12% to become one of the biggest gainers on the blue-chip index after affirming its 2026 revenue guidance while logging a 1.5% revenue growth at constant exchange rates for the first quarter."Reassurance from BNZL's Q1 update with the FY26 outlook reaffirmed and ongoing confidence in the prospect for an M&A pick up in FY26, which is key to the BNZL investment case in our view," RBC Capital Markets said. "We envisage a small outperformance vs. the sector today."Consumer goods giant Reckitt Benckiser (RKT.L), down 4.60%, was the FTSE 100's second-worst performer after group net revenue for the first quarter declined year over year to 3.25 billion pounds sterling from 3.68 billion pounds."Core Reckitt drove a miss on Q1 growth performance, with the biggest miss coming from Emerging Markets," RBC said in another note. "Despite the softer-than-expected performance and the current uncertainty arising from the war in the Middle East, the company has maintained its FY26 Core Reckitt [like-for-like] growth guidance (+4-5%) as the company expect to benefit from the reset of the cold & flu season and continue strong performance in Emerging Markets."

FTSE 100$BNZL.L$RKT.L

Asia Markets151d ago

European Stocks Trend Lower in Wednesday Trading as Strait of Hormuz Remains Closed

European stock markets were tracking lower and oil prices surged in Wednesday trading as the Strait of Hormuz remains closed, despite President Trump indefinitely extended a ceasefire with Iran.The Stoxx Europe was declining 0.4%, Germany's DAX was down 0.3%, the FTSE 100 was edging 0.2% lower, France's CAC was falling 0.9%, and the Swiss Market Index was off 0.5%.In the UK, the annual consumer prices index rose 3.3% in March, up from 3.0% in February, which matched analyst expectations, according to Bloomberg. On a monthly basis, the CPI rose 0.7%, up from 0.4% in February, and ahead of the 0.6% expected by analysts polled by Bloomberg.And in corporate news, T-Mobile's largest shareholder, Deutsche Telekom, is mulling a full combination with the US-based carrier in what would be the largest-ever public M&A deal, Bloomberg reported Tuesday, citing people with knowledge of the matter.The German carrier, which owns a 53% stake in T-Mobile, has been considering creating a new holding company that would make a stock bid for shares of both companies, the report said.T-Mobile and Deutsche Telekom declined to comment to.Shares of the German telecommunications operator were falling 4.6% in Frankfurt.HSBC has shortlisted Allianz, Daiichi Life Group, and Sumitomo Life Insurance as potential buyers of its Singapore insurance business, Bloomberg News reported Wednesday, citing people familiar with the matter.The firms are working with advisers to prepare binding bids for HSBC Life Singapore in the coming weeks, the unnamed sources told the news outlet, adding that HSBC could seek a valuation of up to $2 billion for the business.A spokesperson from HSBC toldthat the company "declines to comment on market speculation" and that its HSBC Life Singapore unit remains under a strategic review. Allianz declined to comment, while Daiichi, and Sumitomo didn't immediately respond to requests for statements.Shares of the British bank were off 0.5% in London.ASML's capacity and productivity improvements should prevent it from becoming a bottleneck for the chip industry, as it was in recent years, Reuters reported Wednesday, citing Chief Executive Christophe Fouquet."Customers will be strongly tempted to look at other suppliers and potentially at alternatives to our technology; we have seen that in the past," Fouquet said at the chip maker's annual meeting Wednesday in Veldhoven, Netherlands, according to the report.Shares of ASML were up 0.6% in Amsterdam.BHP Group said Wednesday its fiscal Q3 copper output decreased by 7% year on year to 476,800 tonnes, while iron ore production rose by 2% to 62.1 million tonnes.For fiscal 2026, the company said it continues to expect copper production of 1.9 million tonnes to 2 million tonnes, and iron ore production of 258 million tonnes to 269 million tonnes.Shares of the mining company were rising more than 2% in London.

Asia Markets151d ago

European Equities Traded in the US as American Depositary Receipts Edge Higher in Wednesday Trading

European equities traded in the US as American depositary receipts were higher late Wednesday morning, edging up 0.12% to 1,808.88 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by oil and gas firm Eni (E) and semiconductor firm Sequans Communications (SQNS), which rose 1.8% and 1.5% respectively. They were followed by 3D printer company Materialise (MTLS) and internet advertising firm Criteo (CRTO), which were up 1.1% and 0.7% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and Ascendis Pharma (ASND), which fell 4.1% and 4% respectively. They were followed by medical device maker EDAP TMS (EDAP) and biotech firm Evaxion (EVAX), which were down 1.8% and 0.2% respectively.The gainers from the UK were led by mining company BHP Group (BHP) and pharmaceutical company Silence Therapeutics (SLN), which advanced 3% and 2.9% respectively. They were followed by utilities company National Grid (NGG) and telecommunications operator Vodafone (VOD), which increased 2.8% and 1.6% respectively.The decliners from the UK and Ireland were led by Akari Therapeutics (AKTX) and Biodexa Pharmaceuticals (BDRX), which dropped 3.8% and 3.4% respectively. They were followed by alcoholic beverage company Diageo (DEO) and hospitality company InterContinental Hotels Group (IHG), which lost 1.8% and 1.4% respectively.

$AKTX$ASND$BDRX$BHP$CRTO$DEO$E$EDAP$EVAX$IHG$MTLS$NGG$NOK$SLN$SQNS$VOD

Asia Markets151d ago

Asian Equities Traded in the US as American Depositary Receipts Rising in Wednesday Trading

Asian equities traded in the US as American depositary receipts were trending higher Wednesday morning, rising 0.48% to 2,787.98 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by fintech firm Maase (MAAS) and polysilicon manufacturer Daqo New Energy (DQ), which climbed 37.2% and 11.8% respectively. They were followed by computer hardware maker Canaan (CAN) and video display maker LG Display (LPL), which rose 6.7% and 4.5% respectively.The decliners from North Asia were led by real estate management and digital technology company Eason Technology (DXF) and fintech firm Qfin (QFIN), which fell 10.7% and 3.8% respectively. They were followed by video streaming service iQIYI (IQ) and travel company Tuniu (TOUR), which were down 2.5% and 1.7% respectively.From South Asia, the gainers were led by IT company Sify Technologies (SIFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which advanced 4.2% and 1.8% respectively. They were followed by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which were up 1.1% and 1% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which dropped 1.8% and 1.7% respectively. They were followed by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which were off 0.7% each.

$CAN$DQ$DXF$HDB$IBN$INFY$IQ$LPL$MAAS$PHI$QFIN$RDY$SE$SIFY$TLK$TOUR

Asia Markets151d ago

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were rising pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. GE Vernova (GEV) posted higher Q1 earnings and revenue, while AT&T (T) reported lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.5% at $99.93 per barrel and US West Texas Intermediate crude 1.5% higher at $91.01 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, shares of Philip Morris and GE Vernova were up 3.3% and 7.%, respectively, after the companies posted their Q1 financial results. Adobe (ADBE) stock was 3% higher after the company said its board approved a new share buyback authorization, allowing the company to repurchase up to $25 billion in shares through April 30, 2030. The digital media software firm also expanded its partnership with Omnicom Group (OMC) to co-develop an enterprise-grade, industry-specialized AI agentic operating model solution, according to Omnicom.On the losing side, Vertiv shares were down 1.1% despite its Q1 adjusted earnings and revenue surpassing analyst expectations. AT&T stock was down 2% after its Q1 earnings release.

Dow JonesNasdaq CompositeS&P 500$ADBE$GEV$IBM$OMC$PM$T$TSLA$VRT

Asia Markets151d ago

Saudi Shares Close Lower; US Extends Ceasefire Deal with Iran

The Tadawul All Share Index closed Wednesday at 0.88% lower as the continued closure of the Strait of Hormuz overshadowed the cheer from the extension of the fragile US-Iran ceasefire deal.US President Donald Trump announced on his Truth Social account that the ceasefire deal with Iran will be extended indefinitely and will continue with the blockade of its ports until the Middle Eastern nation presents a "unified proposal".However, Mahdi Mohammadi, a senior advisor to Iranian Parliament Speaker Mohammad Baqer Qalibaf, suggested that the announcement might be a political ploy for a surprise attack by the US."In the Middle East conflict, Trump extended the ceasefire indefinitely just before its expiry after Iran refused further negotiations due to unreasonable US demands. This marks a U-turn in tone, as Trump had earlier ruled out an extension and hinted at military action. With Iran reportedly not requesting the ceasefire and the Strait of Hormuz issue still unresolved, Iran appears to hold the upper hand at present," Danske Bank said in a note.Back at home, Saudi Arabia's March construction cost index increased 2% from the 1.4% rise in February. The climb was mainly due to a growth in construction costs in the non-residential and residential sectors.On the corporate front, Arriyadh Development (SASE:4150), d/b/a Ardco, agreed to sell its stake in the Al Arabi Riyadh Development Real Estate Fund to Sumou Holding Co. The property group will sell its 10% interest for 184.5 million Saudi riyals. Ardco shares closed 0.11% in the red.

^TASISASE:4150

Asia Markets151d ago

Abu Dhabi, Dubai Shares Fall; US Extends Iran Ceasefire

Emirati shares ended Wednesday's trading session in the red as investors remained cautious amid the uncertainty over peace talks between the US and Iran.At the close of trading, the FTSE ADX General Index was down 0.764%, while the DFM General Index dropped 1.059%.US President Donald Trump said that he extended the ceasefire with Iran and will continue with the blockade of its ports until a "unified proposal" is submitted and discussions are finalized.Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi said in a social media post that the blockade of Iran's ports is an "act of war" and a violation of the ceasefire agreement. Araghchi also mentioned that the country knows how to neutralize these restrictions."War headlines remain very inconclusive. President Trump's announcement of a last-minute ceasefire extension likely validates some degree of optimism that hasn't left USD crosses despite the deadline approaching. But the situation in the Strait of Hormuz remains as unclear as ever, with the US blockade still in place and reports that a UK container ship was shot at by the Iranians yesterday," ING said.Back home and on the corporate front, Palms Sports (ADX:PALMS) closed 2.69% lower. The sports management company reported a higher first-quarter attributable profit of 18.6 million Emirati dirhams, backed by a growth in contract expansions and effective cost management.Over in Dubai, BHM Capital Financial Services (DFM:BHMCAPITAL) approved a total shareholder distribution of 20%, comprising 5% cash dividends and 15% bonus shares, for 2025. Shares of the financial services group were 5.51% in the green at closing.

^DFMGI^FADGIADX:PALMSDFM:BHMCAPITAL

Asia Markets152d ago

US Equity Indexes Fall as Vance's Trip to Pakistan on Hold Ahead of Iran Ceasefire Deadline

US equity indexes fell on Tuesday, while crude oil futures jumped as President Donald Trump reportedly extended the Iran ceasefire deal until Tehran submits a "unified proposal" to end the war.The Nasdaq Composite fell 0.3% to 24,334.81, with the S&P 500 down 0.6% to 7,064.01 and the Dow Jones Industrial Average lower by 0.6% to 49,149.38. All three gauges traded higher earlier in the session. All sectors except energy fell. Real estate, utilities, and industrials led the decliners.Trump said he has extended the ceasefire until Tehran submits a proposal to end the conflict permanently, CNN reported late Tuesday. The ceasefire was due to expire on Wednesday evening ET. Trump said he will continue the US blockade of Iranian ports.Trump said the extension was warranted as Tehran's government is "seriously fractured," CNBC reported.Vice President JD Vance was set to leave Tuesday morning for Pakistan, the expected location for the US-Iran talks, but his trip has been put on hold, CNN reported. The US blockade of the Strait of Hormuz has contributed to the ongoing uncertainty surrounding a second round of talks, CNN cited sources as saying.West Texas Intermediate crude oil futures climbed 2.8% to $92.13, and Brent crude futures advanced 1.6% to $96.98.Most US Treasury yields rose, with the 10-year up 4.8 basis points to 4.3% and the two-year climbed 6.9 basis points to 3.79%.Gold futures declined 2.3% to $4,718.1 and silver futures dropped 4.7% to $76.28.In economic news, US retail sales rose 1.7% in March, above the 1.4% increase expected in a Bloomberg-compiled survey and following the previous month's revised 0.7% gain. Removing both motor vehicles and a 15.5% surge in gasoline station sales, retail sales were up 0.6% in March, the same as in February.Pending home sales rose by 1.5% in March, above the 0.5% increase expected in a survey compiled by Bloomberg and following a 2.5% increase in February, according to the National Association of Realtors. The monthly sales index was down 1.1% from March 2025.In company news, UnitedHealth Group (UNH) raised its full-year earnings outlook on Tuesday, as the health insurance giant recorded an unexpected annual increase in its Q1 results. Shares jumped 7%, among the top gainers on the S&P 500 and the Dow.D.R. Horton's (DHI) fiscal Q2 results came in better than expected, although the homebuilder tempered its full-year revenue outlook. Shares advanced 5.8%, among the S&P 500's outperformers.Moody's (MCO) said Tuesday that it is deepening its partnership with Microsoft (MSFT) by embedding its credit intelligence into Microsoft 365 Copilot and other AI-driven enterprise tools, expanding its presence across financial workflows. Shares of Microsoft rose 1.5%, among the Dow's leaders.Apple (AAPL) shares fell 2.5%, among the Dow's laggards, a day after the company said that Tim Cook will become executive chairman after a nearly 15-year stint as chief executive officer, effective Sept 1.

Dow JonesNasdaq CompositeS&P 500$AAPL$DHI$MCO$MSFT$UNH

Asia Markets152d ago

Exchange-Traded Funds Fall as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) shed 0.1%.US equity indexes fell, giving up intraday gains, as crude oil futures gathered momentum in midday trading on Tuesday, with investors still awaiting confirmation from Iran that it will attend the second round of peace talks in Pakistan.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.1%; iShares US Technology ETF (IYW) fell 0.3% and iShares Expanded Tech Sector ETF (IGM) added 0.2%.The State Street SPDR S&P Semiconductor (XSD) rose 1.6%, and iShares Semiconductor (SOXX) was up 0.6%.FinancialThe State Street Financial Select Sector SPDR (XLF) shed 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.8%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 0.8%.CommoditiesCrude oil rose 4.9%, and the United States Oil Fund (USO) gained 4%. Natural gas was up 0.4%, and the United States Natural Gas Fund (UNG) added 0.7%.Gold on Comex lost 1.9%, and the State Street SPDR Gold Shares (GLD) fell 2.1%. Silver shed 4.1%, and iShares Silver Trust (SLV) declined 4.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 0.4%. The Vanguard Consumer Staples ETF (VDC) fell 0.3%, and iShares Dow Jones US Consumer Goods (IYK) was 0.9% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell fractionally. VanEck Retail ETF (RTH) rose 0.2%, while the State Street SPDR S&P Retail (XRT) dipped 0.1%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.7%, iShares US Healthcare (IYH) declined 0.7%, and Vanguard Health Care ETF (VHT) was 0.8% lower. IShares Biotechnology ETF (IBB) fell 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also declined.CryptocurrencyIn midday activity, bitcoin (BTC-USD) shed 0.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 0.3%, ProShares Ether ETF (EETH) lost 0.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.9%.

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 Markets152d ago

US Equity Indexes Slip as Investors Await Fate of Iran Peace Talks in Pakistan

US equity indexes gave up intraday gains as crude oil futures gathered momentum after midday Tuesday, amid a fast-approaching deadline for Washington and Tehran to find a deal in the second round of talks in Pakistan.The Nasdaq Composite fell 0.3% to 24,339.8, with the S&P 500 down 0.3% to 7,087.2 and the Dow Jones Industrial Average lower by 0.2% to 49,370.3. All three gauges traded higher earlier in the session alongside corporate results.All sectors except consumer discretionary and energy fell, with real estate and industrials leading the decliners.President Donald Trump told CNBC on Tuesday that he expects the US and Iran to make a "great deal," referring to the proposed second round of talks in Islamabad that Iran has yet to confirm it will attend. The president added, however, that the US military is "ready" to bomb Iran if a deal is not signed by the ceasefire deadline late Wednesday and that he does not want to extend it.Iran has told regional mediators it would send a negotiating team to Islamabad on Tuesday, people familiar with the matter told The Wall Street Journal. But Tehran hasn't publicly confirmed it will send representatives, and Iran's top negotiator said, "We do not accept negotiations under the shadow of threats."West Texas Intermediate crude oil futures climbed 4.3% to $93.50, and Brent crude futures advanced 2.8% to $98.17.Most US Treasury yields rose, with the 10-year up 4.8 basis points to 4.3% and the two-year climbing 6.5 basis points to 3.78%.Gold futures declined 1.1% to $4,775.6 and silver futures dropped 2.4% to $78.15.In economic news, US retail sales rose 1.7% in March, above the 1.4% increase expected in a Bloomberg-compiled survey and following the previous month's revised 0.7% gain. Removing both motor vehicles and a 15.5% surge in gasoline station sales, retail sales were up 0.6% in March, the same as in February.Pending home sales rose by 1.5% in March, above the 0.5% increase expected in a survey compiled by Bloomberg and following a 2.5% increase in February, according to the National Association of Realtors. The monthly sales index was down 1.1% from March 2025.In company news, UnitedHealth Group (UNH) raised its full-year earnings outlook on Tuesday, as the health insurance giant recorded an unexpected annual increase in its Q1 results. Shares jumped 7.6%, the top gainer on the S&P 500 and the Dow.D.R. Horton's (DHI) fiscal Q2 results came in better than expected, although the homebuilder tempered its full-year revenue outlook. Shares advanced 7.1%, among the S&P 500's outperformers.Moody's (MCO) said Tuesday that it is deepening its partnership with Microsoft (MSFT) by embedding its credit intelligence into Microsoft 365 Copilot and other AI-driven enterprise tools, expanding its presence across financial workflows. Shares of Microsoft rose 1.4%, among the Dow's leaders.Apple (AAPL) shares fell 1.5%, among the Dow's laggards, a day after the company said that Tim Cook will become executive chairman after a nearly 15-year stint as chief executive officer, effective Sept 1.

Dow JonesNasdaq CompositeS&P 500$AAPL$DHI$MCO$MSFT$UNH

Asia Markets152d ago

European Stocks Track Lower in Tuesday Trading; Euro Area Economic Sentiment Plunges

The European stock markets were tracking lower in Tuesday trading as The Stoxx Europe was declining 0.4% lower, Germany's DAX was off 0.5%, the FTSE 100 was down 1%, France's CAC declined 1.1%, and the Swiss Market Index was 1% lower.Euro area economic outlook sentiment deteriorated sharply in April, according to the April ZEW Financial Market Survey, falling 11.9 points from March to -20.4. The reading was far lower than analyst expectations of -12.7, according to Bloomberg.Aerospace and defense stocks are tumbling in Tuesday trading as Rolls-Royce and BAE Systems dropped 6% and 4.2% respectively in London. Safran and Thales fell 5.9% and 5.6% respectively in Paris. MTU Aero Rheinmetall was off 3.5% in Frankfurt, while Leonardo lost 5% in Milan.In corporate news, Shell faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported Tuesday, citing court documents."Shell must stop bringing new oil and gas fields into production. This is necessary to protect us from Shell's climate-disrupting activities," Friends of the Earth Netherlands, or Milieudefensie, said in the filing, Reuters reported.In a statement posted to its website, Shell called the case "unrealistic, unreasonable," and "fundamentally misplaced," adding that "it ignores the role oil and gas will continue to play over the coming decades as renewables become more widely available."Shares of the British oil and gas company were flat in London.Barclays is facing scrutiny from UK regulators over its use of significant risk transfer, or SRT, transactions, Bloomberg reported Tuesday, citing unnamed sources.The review, known as a Section 166 probe, has been requested by the Prudential Regulation Authority, the supervisory arm of the Bank of England, according to the publication. The report says the bank has commissioned an independent review of its practices.Barclays did not immediately respond to' request for comment.Shares of the British bank were off 1.1% in London.BHP is looking to pursue large-scale copper exploration in Zambia, Reuters reported Tuesday, citing the country's mines ministry.The company is targeting major deposits that are harder to detect using traditional methods, focusing on deeply buried or geologically concealed resources, the mines ministry quoted Campbell McCuaig, BHP's head of global generative exploration, as saying, Reuters reported.BHP did not immediately respond to' request for comment.Shares of the mining company were declining 1.4% in London.AstraZeneca said Tuesday a phase 3 trial of Ultomiris in adults with Immunoglobulin A nephropathy, a rare kidney disease, met its primary endpoint.The study showed a statistically significant reduction in proteinuria, based on 24-hour urine protein creatinine ratio at week 34, the company said.AstraZeneca said it plans to submit the data to regulatory authorities while continuing the trial.Shares of the British pharmaceutical company were losing more than 2% in London.Rio Tinto said late Monday its Q1 global iron ore production was 82.8 million metric tonnes, up 12% year over year.Iron ore sales for the quarter rose 2% from a year earlier to 75.7 million metric tonnes.For 2026, the company continues to expect global iron ore sales of 343 million metric tonnes to 366 million metric tonnes.Shares of Rio Tinto were down 1.4% in London.

Asia Markets152d ago

DAX Index Blinks Red as German Economic Sentiment Falls

German equities fell on Tuesday, with the blue-chip DAX index ending the trading session 0.60% in the red, as the market digested the latest economic sentiment survey for the eurozone's biggest economy and updates regarding potential US-Iran truce talks.The ZEW economic sentiment indicator for Germany tumbled to -17.2 points in April from March's -0.5 point, missing the consensus estimate of -6.7 points. The current situation index also fell by -10.8 points to -73.7 points, slightly behind the expected -70 points."Economic expectations are slipping into negative territory. The economic consequences of the Iran war for the German economy go far beyond price increases: Businesses are concerned about long-term shortages of energy supply, and this discourages investment and weakens the effect of government stimuli," ZEW President Achim Wambach said.Speaking of the Middle East conflict, Reuters reported, citing a Pakistani source, that momentum is building for talks to resume on Wednesday between the US and Iran, with US Vice President JD Vance expected in Islamabad. The news outlet noted comments from Tehran stating it was "positively reviewing" participation while continuing to demand the recognition of its right to enrich uranium and an end to the naval blockade of its ports, among other conditions.In corporate news, Beiersdorf (BEI.F) was one of the blue-chip index's top losers, falling 2.97%, after posting lower-than-expected first-quarter sales amid headwinds across its core brand and luxury portfolio. The German personal care products manufacturer's sales for the three months ended March 31 decreased by 4.6% on an organic basis to 2.48 billion euros, compared with FactSet-compiled consensus of 2.56 billion euros.Meanwhile, Berenberg forecasts a "surprisingly good, if volatile, 2026" for BASF (BAS.F), though it cautions that this "overdue good fortune" is already baked into the share price. Consequently, the research firm maintained its hold rating while nudging its price target up to 51 euros from 48 euros."This report is the first time in years where we have substantially raised earnings forecasts for BASF. After a decade of struggling to adapt to oversupply in the chemicals sector, the most substantive pieces of news over the last six months have all been positive. Against the backdrop of domestic German stimulus, shares have responded well to: i) potential political relief on carbon taxation and select anti-dumping investigations; and ii) increases in chemicals prices caused by Iran-conflict-induced feedstock shortages at Asian peers. We are unsure of the longevity of ii, but the self-help measures, including the sale of coatings for EUR8.7bn (13x EV/EBITDA), have left the company quite well-placed to enjoy the upswing," Berenberg said. The German chemicals company gained 1.12% at the end of the trading day.

^DAX$BAS.F$BEI.F

Asia Markets152d ago

UK Shares Fall as Ceasefire Deadline Nears; Associated British Foods Shares Down Amid Primark Plans

London's FTSE 100 closed Tuesday trading 1.05% in the red as the US and Iran's two-week ceasefire nears its expiration on Wednesday evening Eastern time.US President Donald Trump said he does not want to extend the ceasefire deadline and expects "to be bombing" if the two sides fail to reach a deal, according to a phone interview on CNBC's Squawk Box.In economic news back home, Britain's unemployment rate stood at 4.9% in the three months to February, according to data from the Office for National Statistics. Analysts expected unemployment to remain stable at 5.2%. Meanwhile, wage growth slowed to 3.8% from a revised 4.1% including bonuses and to 3.6% from 3.8% excluding them, slightly above forecasts of 3.6% and 3.5%, respectively."The Bank of England's (BoE's) preferred measure of pay growth slowed to the pace it believes is consistent with CPI inflation meeting the 2% target," Berenberg said. "Taking the official and survey data in the round, our view is that the jobs market stabilised. However, forward looking indicators flag a risk of further deterioration. In either case, few job vacancies relative to the number of people looking for work should prevent a rise in energy prices from setting off a new price-wage spiral."At Downing Street, long‑term fixed‑price contracts for renewables were proposed alongside increased taxation on excess revenues generated from electricity production to sever the link between international gas prices and electricity rates across the UK. "Our focus is simple: easing pressure on household budgets now, while building a homegrown energy system that protects families from global instability in the years ahead," UK Prime Minister Keir Starmer said.In corporate news, Associated British Foods (ABF.L) dropped 2.68% as it plans to demerge its fast-fashion retail business, Primark, from its FoodCo business and list them as separate entities."ABF reported their H1-26 results today and, as we expected, will demerge Primark (which will be completed by Sep-27). This is a good decision in the long-term but which will not create short-term value on our estimates," Bernstein said. "The business remains weak across the board with profits declining -17% YoY and margins compressing -150 [basis points], driven by weakness in Primark, grocery and sugar. Vs. consensus, revenue was broadly in line (-0.5%) but EBIT missed by -5% (driven by grocery) whilst Primark margins were a little stronger (+20bps beat but this included a non-recurring benefit, which if excluded, leads to a margin miss)."On the upside, data and technology company Experian (EXPN.L) climbed 2.34%, taking a spot among the top performers on the blue-chip index, after appointing Adam Crozier as its chair designate, effective May 12.

FTSE 100$ABF.L$EXPN.L

Asia Markets152d ago

Swiss Stocks Down Amid Looming US-Iran Ceasefire Deadline

The Swiss Market Index remained in negative territory on Tuesday, closing 1.13% lower, reflecting cautious market sentiment amid uncertainty over the outcome of the second round of US-Iran peace talks."Investors continue to take a bullish view of events. Although not confirmed, Iranian negotiators are expected to travel to Pakistan to engage in peace talks with the US later today or early tomorrow. As is his way, President Trump continues to threaten a binary outcome - deal or destruction - after tomorrow's ceasefire expires," ING analysts said. "For the time being, the market seems happy to sit pro-risk on the view that the ceasefire will at least be extended."In local economic news, Switzerland's trade surplus stood at 11.10 billion francs in the first quarter of 2026, down from 11.26 billion francs in the prior three-month period, data from the Federal Office for Customs and Border Security showed. Seasonally adjusted exports fell 4.2%, marking the lowest level since the third quarter of 2021, while imports decreased 4.7%.On the watchmaking front, the country's watch exports declined 1% annually to 2.11 billion francs in March, according to the Federation of the Swiss Watch Industry.Over to corporates, the US Food and Drug Administration accepted Roche's (RO.SW) supplemental biologics license application for its monoclonal antibody Gazyva/Gazyvaro for treating systemic lupus erythematosus. The Swiss pharmaceutical giant expects the regulator to decide on the approval by December. The stock was down 1.21% at closing.Meanwhile, RBC Capital Markets reiterated Alcon's (ALC.SW) outperform rating and price target of 80 francs, noting a "positive set up" into the Swiss eye products company's first-quarter results set for release in May. Alcon's shares closed the trading session 1.15% in the red."We expect results-day volatility to continue, driven by: 1) commentary around market growth (implication for 2026 guidance); 2) Equipment growth performance (Unity roll out); and 3) Implantables growth performance (market share dynamics), but at a lower level vs historical given the conservativism of FY2026 guidance," the research firm said in a note. "Although we continue to see potential upside to FY2026 guidance, driven by an accelerating surgical (cataract) market, we expect the company to reiterate guidance at Q1 results."

^SSMI$ALC.SW$RO.SW

Asia Markets152d ago

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

European equities traded in the US as American depositary receipts were falling sharply late Tuesday morning, dropping 1.15% to 1,812.72 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by petroleum refiner Equinor (EQNR) and internet browser company Opera (OPRA), which rose 2.7% and 1.7% respectively. They were followed by 3D printer company Materialise (MTLS) and medical device maker EDAP TMS (EDAP), which were up 1.2% each.The decliners from continental Europe were led by biopharmaceutical company argenx (ARGX) and pharmaceutical company Novo Nordisk (NVO), which fell 3% and 2.8% respectively. They were followed by biotech firm Evaxion (EVAX) and pharmaceutical company Ascendis Pharma (ASND), which were down 2.7% each.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and software firm Endava (DAVA), which advanced 6.4% and 2.7% respectively. They were followed by education company Pearson (PSO) and pharmaceutical company Silence Therapeutics (SLN), which increased 1.2% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and NuCana (NCNA), which dropped 8.7% and 3.2% respectively. They were followed by biopharmaceutical company Mereo BioPharma Group (MREO) and cruise line operator Carnival (CUK), which lost 2.3% and 2.2% respectively.

$AKTX$ARGX$ASND$BDRX$CUK$DAVA$EDAP$EQNR$EVAX$MREO$MTLS$NCNA$NVO$OPRA$PSO$SLN

Asia Markets152d ago

Asian Equities Traded in US as ADRs Fall in Tuesday Trading

Asian equities traded in the US as American depositary receipts fell Tuesday morning with the S&P Asia 50 ADR Index declining 1.1% to 2,805.12.From North Asia, the gainers were led by education company 51Talk Online Education Group (COE) and lender CNFinance Holdings (CNF), which climbed 12% and 7.3%, respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and fintech firm J and Friends Holdings (JF), which advanced 6.1% and 4.4%, respectively.The decliners from North Asia were led by fintech firm Maase (MAAS) and fashion platform MOGU (MOGU), which dropped 15% and 5.5%, respectively. They were followed by internet and data center services provider VNET Group (VNET) and video streaming service iQIYI (IQ), which lost 5.2% and 5%, respectively.From South Asia, the gainers were led by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which rose 1.8% and 1.6%, respectively. They were followed by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which were up 1.5% and 0.3%, respectively.The decliners from South Asia were led by telecommunications operator Telekomunikasi Indonesia (TLK) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which fell 3.2% and 1.5%, respectively. They were followed by IT firm Infosys (INFY) and tech conglomerate Sea (SE), which were off 0.7% and 0.5%, respectively.

$CMCM$CNF$COE$HDB$IBN$INFY$IQ$JF$MAAS$MOGU$PHI$RDY$SE$SIFY$TLK$VNET

Asia Markets152d ago

Saudi Shares End Tuesday in Red Amid Jitters on US-Iran Meeting Uncertainty

The Tadawul All Share Index closed Tuesday 0.19% in the red as market jitters regarding the uncertainty of the US-Iran peace talks happening sent investors into risk-off mode.As the end of the two-week ceasefire looms, Iran and the US are set to meet in Islamabad, Pakistan, on Wednesday, Reuters reported, citing a Pakistani source. The US will send Vice President JD Vance for the discussions, with the Iranian delegation sending uncertain signals about its participation."Various reporting suggests that Vice President Vance is expected depart to Islamabad today, and we also saw reporting by the New York Times and others that Iran is also sending a team to Islamabad for negotiations. With a spokesman for Iran's foreign ministry earlier saying that Tehran had no plans to attend the negotiations, this has given a more positive light on the talks going ahead, though it remains unclear who would lead the Iranian delegation," Deutsche Bank Research said in a note.Back at home, Saudi National Bank (SASE:1180), Riyad Bank (SASE:1010), Al Rajhi Bank (SASE:1120), and Arab National Bank (SASE:1080) posted their financial statements for the first quarter of 2026. All four stocks logged higher net profit and total operations profit for the three months ended March 31."SNB reported SAR6,423mn net income for 1Q26, 1.7% above consensus (Visible Alpha), 2.2% above BofAe, +0.6% QoQ. The bottom line was helped by net release of provisions (-32bpt CoR), which has offset lower than we had expected revenue and higher costs. In the balance sheet, loan growth came in moderate, while deposits accelerated, bringing Loan / Deposit Ratio down," BofA Global Research said.Saudi National Bank and Riyad Bank declined 2.40% and 0.23%, respectively, while Al Rajhi Bank closed 0.42% higher and Arab National Bank ended the session 1.58% in green.Meanwhile, Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions', shares rose 0.68% as it secured a project to design, upgrade, and provide equipment for Saudi Telecom (SASE:7010), d/b/a stc, data centers. Stc shares closed 0.05% higher.

^TASISASE:1010SASE:1080SASE:1120SASE:1180SASE:7010SASE:7202

Asia Markets152d ago

AI Optimism Lifts US Equity Futures Pre-Bell Amid Uncertainty of US-Iran Peace Talks

US equity futures were higher pre-bell on Tuesday as recent optimism on artificial intelligence and tech buoyed investor sentiment amid the uncertainty of a new round of negotiations between the US and Iran.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.3% higher.JPMorgan Chase (JPM) boosted its year-end target for the S&P 500 index to 7,600, pointing to AI and tech-driven earnings, while Amazon (AMZN) said it planned to invest $5 billion in Claude AI chatbot creator Anthropic, with up to another $20 billion potentially available in the future if certain commercial milestones are met.President Donald Trump seems positive on the new round of peace talks happening, while Iran has said it will not negotiate "under the shadow of threat." The ceasefire between the two nations ends tomorrow.Traders took note of the latest round of earnings, with GE Aerospace (GE) and UnitedHealth Group (UNH) reporting higher Q1 adjusted earnings and revenue.Oil prices were slightly lower, with front-month global benchmark North Sea Brent crude down 0.2% at $95.20 per barrel and US West Texas Intermediate crude 0.7% lower at $88.95 per barrel.March retail sales rose 1.7% following an upwardly adjusted 0.7% gain in the prior month, above estimates compiled by Bloomberg of a 1.4% increase.The Senate Banking Committee hearing of Kevin Warsh for the Federal Reserve chair is scheduled at 10 am ET.In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, Amazon stock was higher by 2.2% pre-bell. UnitedHealth shares rose 7.4% after the company's Q1 adjusted earnings and revenue surpassed analysts' consensus. Danaher (DHR) stock was up by 0.5% after posting Q1 adjusted earnings that beat analysts' estimates.On the losing side, Apple (AAPL) shares eased slightly by 0.7% after the company said Tim Cook plans to step down as chief executive and become executive chairman, with hardware engineering veteran John Ternus set to succeed him as CEO. 3M (MMM) stock was down by 3.7% despite the company's Q1 adjusted earnings and net sales surpassing analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DHR$GE$JPM$MMM$UNH

Showing 1421-1440 of 1561