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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 Markets18d 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 Markets18d 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 Markets18d 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.

$^TASI$SASE:1010$SASE:1080$SASE:1120$SASE:1180$SASE:7010$SASE:7202

Asia Markets18d 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.

$^DJI$^IXIC$^SPX$AAPL$AMZN$DHR$GE$JPM$MMM$UNH

Asia Markets18d ago

Emirati Equities Gain on US-Iran Peace Talks Optimism

Stock trading in the United Arab Emirates ended in the green on Tuesday, buoyed by positive sentiment regarding the resumption of peace talks between the US and Iran.At the close of trading, the FTSE ADX General Index was up 0.197%, while the DFM General Index added 0.276%.Oil prices dropped 0.36% to $95.129 per barrel on Tuesday at 3:43 pm UAE time amid reports from multiple media outlets that the US and Iran will resume their peace talks on Wednesday."Negotiations between the US and Iran are set to resume in Pakistan, with US Vice President JD Vance set to attend. It appears Iran will send a delegation too. This follows earlier suggestions that Iran wouldn't attend as long as the US blockade continues. These talks are important, with the current ceasefire set to end on Wednesday," ING said. "President Trump has suggested he is unlikely to extend the ceasefire. Therefore, a lack of progress would likely push oil and gas prices higher. This would create significant uncertainty over when energy flows through the Strait of Hormuz might return to normal."Back home, the Dubai International Financial Centre, or DIFC, plans to integrate artificial intelligence across its legal and regulatory frameworks, operations, and talent development systems, becoming the first AI-native financial center globally.Over to corporates, shareholders of Dana Gas (ADX:DANA) approved the distribution of a cash dividend of 0.065 Emirati dirham per share for 2025. Shares of the natural gas company closed the session 2.66% higher.Deyaar Development (DFM:DEYAAR) stocks ended 0.80% in the red at closing. The real estate group handed over three residential and hospitality projects comprising a total of 1,436 units in Dubai.

$^DFMGI$^FADGI$ADX:DANA$DFM:DEYAAR

Asia Markets18d ago

US Equity Indexes Mixed Amid Reports Iran Peace Talks to Enter Second Round

US equity indexes closed mixed on Monday, with the Dow Jones Industrial Average clawing back almost all of its intraday declines, amid speculation that a second round of Iran negotiations will go ahead in Pakistan.The Nasdaq Composite fell 0.3% to 24,404.39, with the S&P 500 down 0.2% to 7,109.14, after breaking records late last week when President Donald Trump talked up the likelihood of an Iran peace deal before the end of the current, two-week ceasefire on Tuesday. The Dow Jones Industrial Average was little changed at 49,442.56.Technology also turned the corner after trading lower earlier in the session. Communication services and healthcare led the decliners, while the materials sector was among the gainers.The US and Iran plan to hold peace talks in Islamabad this week, The Wall Street Journal reported Monday. While Iran hasn't publicly confirmed that it would send representatives to the meetings in Pakistan, it has told regional mediators that it would send a team to negotiate, people familiar with the matter told the WSJ.Pakistan is confident it can get Iran to attend talks with the US, Reuters reported Monday, citing a senior Pakistani government official. "We have received a positive signal from Iran," the source told Reuters, speaking on condition of anonymity. "Things are fluid, but we are trying [to make sure] that they should be here when we start the talks tomorrow or a day after."Iran is considering attending the peace talks, a senior Iranian official told Reuters on Monday, following moves by Islamabad to engineer an end to the US blockade of Iran's ports, a major hurdle for Tehran in rejoining peace efforts.Vice President JD Vance and top US officials are expected to depart Tuesday for Islamabad, Pakistan, CNN reported Monday. President Trump said he's not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to conclude a deal to end the war, Bloomberg reported Monday.Meanwhile, US home sellers outnumbered buyers by a near-record percentage in March, according to a Redfin survey. Home sellers exceeded buyers by an estimated 43% last month, compared with the largest gap on record of just above 45% in December. The March tally increased from 28% a year earlier.In US company news, Norwegian Cruise Line (NCLH) dropped 3.5%, among the worst performers on the S&P 500, amid the geopolitical developments in the Middle East.Meta Platforms (META) plans to initiate its planned layoffs for this year on May 20, and more cuts are expected later, Reuters reported, citing people familiar with the matter. The Facebook-owner's shares dropped 2.6%, among the worst performers on the Nasdaq.Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell jumped 5.8%, the top gainer on the Nasdaq.

$^DJI$^IXIC$^SPX$GOOG$GOOGL$META$NCLH

Asia Markets18d ago

Exchange-Traded Funds Mixed as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were mixed, with the latter down 0.3%. Actively traded Invesco QQQ Trust (QQQ) shed 0.5%.US equity indexes slipped, while crude oil futures rose amid high-stakes Middle East diplomacy to bring Iran back to the negotiating table in Pakistan for a second round of peace talks.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 down 0.3%; iShares US Technology ETF (IYW) fell 0.3%, and iShares Expanded Tech Sector ETF (IGM) declined 0.5%.The State Street SPDR S&P Semiconductor (XSD) added 1.1%, and iShares Semiconductor (SOXX) was down 0.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.5%.CommoditiesCrude oil gained 6%, and the United States Oil Fund (USO) rose 5.2%. Natural gas rose 1.4%, and the United States Natural Gas Fund (UNG) added 0.6%.Gold on Comex slipped 1.3%, and the State Street SPDR Gold Shares (GLD) fell 1.2%. Silver declined 2.4%, and iShares Silver Trust (SLV) was down 2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was 0.1% lower. The Vanguard Consumer Staples ETF (VDC) was fractionally lower, and iShares Dow Jones US Consumer Goods (IYK) was down 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was down 0.9%. VanEck Retail ETF (RTH) fell 0.4%, while the State Street SPDR S&P Retail (XRT) added 0.2%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.5%, iShares US Healthcare (IYH) shed 0.5%, and Vanguard Health Care ETF (VHT) was 0.4% lower. IShares Biotechnology ETF (IBB) declined 0.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was flat. Vanguard Industrials Index Fund (VIS) was up 0.1%, and iShares US Industrials (IYJ) was down 0.1%CryptocurrencyBitcoin (BTC-USD) gained 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.7%, ProShares Ether ETF (EETH) dropped 5.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 3.1%.

$^DJI$^EEM$^EXI$^FAS$^FAZ$^GLD$^IBB$^IGM$^IGV$^IPK$^IVV$^IWM$^IXIC$^IYE$^IYH$^IYJ$^IYK$^IYW$^PMR$^QQQ$^RTH$^SOXX$^SPX$^SPY$^UNG$^USO$^VDC$^VHT$^VIS$^XLE$^XLF$^XLI$^XLK$^XLP$^XLV$^XRT$^XSD$BETH$BITO$EETH

Asia Markets18d ago

US Equity Indexes Decline as Fate of Iran Peace Talks Hangs in Balance

US equity indexes fell, while crude oil futures jumped amid high-stakes diplomacy aimed at bringing Iran back for a second round of talks in Pakistan.The Nasdaq Composite fell 0.5% to 24,344.1, with the S&P 500 down 0.3% to 7,101.5, after breaking records late last week when President Donald Trump talked up the likelihood of an Iran peace deal before the end of the current, two-week ceasefire on Tuesday. The Dow Jones Industrial Average fell 0.1% to 49,378.5.Consumer discretionary, communication services, and technology led decliners intraday. Energy and materials were among the biggest gainers.Risk appetite is "on the run" to start the fresh trading week, Derek Holt, head of capital markets economics at Scotiabank, said in a note on Monday. Trump, on Friday, appears to have "grossly overstated" progress toward an agreement with Iran, Holt added.Trump said the ceasefire with Iran ends "Wednesday evening Washington time," adding it's "highly unlikely" he would extend it if a deal is not reached before then, CNN reported Monday.Vice President JD Vance and top US officials are expected to depart Tuesday for Islamabad, Pakistan, ahead of a potential second round of talks with Iran, CNN reported. Iran is considering attending peace talks, a senior official from the Middle East nation told Reuters on Monday, following moves by Islamabad to end a US blockade of Tehran's ports, a major hurdle for the country under threat of widespread attack to rejoin peace efforts.The US president said in a Monday phone interview that the second round of talks with Iran is set to begin Tuesday, Bloomberg reported.West Texas Intermediate crude oil futures jumped 5% to $88.80, and Brent crude futures advanced 4.8% to $95.21.Most US Treasury yields rose, with the 10-year up 1.8 basis points to 4.26% and the two-year climbed 2.5 basis points to 3.73% as rising crude oil prices fueled inflation worries. Reflecting the potential upside risk to price pressures, gold futures declined 1.2% to $4,822.1 and silver futures dropped 2.5% to $79.78.In company news, Norwegian Cruise Line (NCLH) dropped 4.2% intraday, among the worst performers on the S&P 500, amid worsening geopolitical risk in the Middle East.Meta Platforms (META) plans to initiate its planned layoffs for this year on May 20, and more cuts are expected later, Reuters reported, citing people familiar with the matter. The Facebook-owner's shares dropped 2.3% intraday, among the worst performers on the Nasdaq.Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell jumped 4% intraday, the top gainer on the Nasdaq.

$^DJI$^IXIC$^SPX$GOOG$GOOGL$META$MRVL$NCLH

Asia Markets19d ago

European Stocks Fall Sharply in Monday Trading as Hopes of Middle East Ceasefire Dim

European markets were tracking lower Monday as investors are discouraged by reports that Tehran will not participate in pending peace-talks with Washington, and that President Donald Trump said an extension of the two-week ceasefire with Iran is "highly unlikely" and that the Strait of Hormuz would remain blocked until an agreement is finalized.The Stoxx Europe was falling 1%, Germany's DAX was dropping 1.2%, the FTSE 100 was down 0.7%, France's CAC was declining 1.2%, and the Swiss Market Index was moving 1.5% lower.Rising oil prices lifted energy stocks in Monday trading as BP and Shell gained 3% and 2.4% respectively in London. RWE increased 2.3% in Frankfurt, TotalEnergies was rising close to 2% in Paris, while Eni and Equinor were up 2.8% and 2.3% respectively in Milan and Oslo.And in corporate news, Novo Nordisk reported Monday "positive" topline results from its Phase 3 HIBISCUS trial, with etavopivat meeting both primary endpoints in sickle cell disease, significantly reducing vaso-occlusive crises and improving haemoglobin levels versus placebo.Novo Nordisk said it plans to seek initial regulatory approval for the drug in the second half of 2026, positioning it as a potential first-in-class treatment for a disease affecting millions worldwide.Shares of the Danish pharmaceutical company were down 1% in Copenhagen.BHP and Mitsubishi Development have started a review of their coal and other mining assets in Queensland over concerns about the Australian state's royalty demands, Bloomberg reported Monday, citing unnamed people familiar with the matter.The two companies are equal partners in the BHP Mitsubishi Alliance joint venture, which returned no profit to BHP in the six months ending Dec. 31, the report said.BHP did not immediately reply to' request for comment.Shares of BHP lost 1.6% in London.Sanofi said Saturday its Nuvaxovid COVID-19 vaccine met the primary endpoint of a phase 4 trial by demonstrating a statistically lower probability of side effects compared with Moderna's newest mRNA vaccine.Severe systemic symptoms disrupting daily activities occurred in less than 10% of Nuvaxovid patients compared to one in five for the Moderna shot, while severe injection site reactions were over 75% less frequent, Sanofi said.Shares of the French pharmaceutical company were off 0.4% in Paris.AstraZeneca said Monday its pivotal phase 3 study of tozorakimab demonstrated a "significant" reduction in the annual rate of moderate-to-severe chronic obstructive pulmonary disease, or COPD, exacerbations in trial participants.The population comprised former smokers, current smokers and participants throughout all blood eosinophil counts and all stages of lung function severity, according to the company.Shares of the British pharmaceutical company were losing 0.8% in London.GSK said Monday China's National Medical Products Administration has approved Blenrep in combination with bortezomib and dexamethasone to treat certain relapsed or refractory multiple myeloma patients.The approval covers adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy.Shares of GSK were off 0.1% in London.

Asia Markets19d ago

German Shares Down as US-Iran Tensions Reignite

Germany's blue-chip DAX index reversed last week's winning streak, closing 1.04% in the red on Monday, amid renewed friction between the US and Iran.A US naval interception of an Iranian cargo ship on Monday triggered a vow of retaliation from Tehran, which also reinstated restrictions on the Strait of Hormuz over the weekend amid the US' continued blockade of Iranian ports. As Tuesday's ceasefire expiration looms, Iran threatened to boycott the anticipated second round of negotiations, demanding an immediate end to the closure of its ports as a prerequisite for talks."Oil prices rebounded, with Brent crude trading at USD 95 [per barrel] this morning, as the market digested the turmoil around the Strait of Hormuz. The market is likely to stay volatile this week as US and Iran will try and negotiate a deal. If oil does not start flowing through the strait soon, oil prices are likely to rise further and above USD 100/bbl again," Danske Bank said.In local economic news, Destatis reported that producer prices ticked down 0.2% year over year in March, compared with a 3.3% decline earlier. The German Federal Statistical Office attributed the year-on-year decline to energy price adjustments. On a monthly basis, the index was up 2.5% in March 2026, marking the biggest month-over-month rise in producer prices since August 2022.On the corporate side, Commerzbank (CBK.F) shares moved 1.33% higher, as significant shareholder UniCredit unveiled a value-creation plan for the German bank. Seeking to boost 2028 net profit to 5.1 billion euros, versus Commerzbank's 4.5 billion-euro goal, UniCredit urged a faster transformation, claiming the current management is "insufficiently prepared" for future challenges and too focused on short-term delivery.Meanwhile, Deutsche Bank Research trimmed buy-rated SAP's (SAP.F) price target to 200 euros from 220 euros, as part of a report focused on the European software and information technology services sector. The German software company was the DAX's second-biggest loser during the session, shedding 3.28%."The European and global Software sector has seen some recovery of share prices over the last days which we see as a result of very negative positioning going into earnings season. While this is somewhat of a relief following the derating of the last months, we retain our selective approach and overall more cautious stance on the space. We expect new releases of OpenAI, Google and other models during Q2, which represent further headline risks to the sector, while established Software companies need to transform themselves (further) in order to deliver maximum value from AI solutions to their customers in a rapidly evolving technology landscape. Lastly, geopolitical and macro headwinds from the war in Iran are likely to impact also Enterprise customer confidence as we have seen when Russia attacked Ukraine or during the 2025 'trade war,'" the research firm said.

$^DAX$CBK.F$SAP.F

Asia Markets19d ago

UK Shares Fall Amid Escalating US-Iran Tensions; Tesco Shines

British equities began the new week lower, with the FTSE 100 closing 0.59% in the red on Monday, as escalating tensions between the US and Iran depressed global markets and dampened the prospects of further peace talks."The Middle East conflict escalated early this morning as the US intercepted an Iranian cargo ship trying to breach its maritime blockade, prompting Iran to vow retaliation. The prospects for a second round of negotiations remain uncertain ahead of the ceasefire's expiration on Tuesday, with Iran refusing to participate unless the blockade is lifted," Danske Bank said.In the UK, consumer confidence weakened further in April as households' inflation worries grew due to the ongoing war in the Middle East and rising expectations about monetary policy tightening from the Bank of England. The S&P Global UK Consumer Sentiment Index fell to a 33-month low of 42.3 in April from 44.1 in March, according to a survey by S&P Global.Next, investors will assess labor data on Tuesday, inflation on Wednesday, S&P Global PMIs on Thursday, and retail sales on Friday. "Headline inflation should rise from 3.0% in February to 3.3% in March due to higher energy prices. In turn, core inflation is likely to move up from 3.2% to 3.3% with services inflation rising from 4.3% to 4.4% and core goods flat at 1.3%. We expect the unemployment rate to be flat at 5.2% in the three months to February with an 80K increase in 3m/3m employment," BofA Global Research said.In corporate news, Tesco (TSCO.L) gained 1.62% to the FTSE 100's top risers list as Deutsche Bank Research raised the retail giant's price target to 5.25 pounds sterling from 5 pounds, with a buy rating."Tesco delivered another profit beat in FY26 but set out a cautious outlook for FY27, underlining an intention to defend value amid macro uncertainty. We view this as conservative (DBe at the upper end of the profit range). While there are risks to the UK consumer and inflation, Tesco is well placed to navigate this supported by its defensive profile, strong competitive position, incremental profit streams to drive price re-investment, and a track record of over-delivering," analysts said.On the contrary, Deutsche Bank reduced the price target for Barratt Redrow (BTRW.L) to 3.66 pounds from 4.54 pounds, with a buy rating. The residential property developer was down 4.37% to become one of the worst performers on the blue-chip index."Barratt's Q3 update showed a resilient sales rate, marginally up y/y - supported by competitive pricing and incentives, and so far unaffected by the Middle East war and higher mortgage rates. Whilst demand could yet be impacted, a greater certainty is that cost inflation will rise, and we are already seeing evidence of this. To reflect this and the possibility that a weaker year-end order book will inhibit volume growth in FY27, we reduce our [pretax profit] forecasts by 3/18/18% for FY26/27/28 - albeit acknowledge there is a wide range of potential outcomes," analysts said.

$^FTSE$BTRW.L$TSCO.L

Asia Markets19d ago

Swiss Market Index in Red as Hopes for Middle East War Resolution Fade

Swiss stocks began the trading week on a somber note, with the Swiss Market Index down 1.45% on Monday's close, as hopes for a resolution to the war in the Middle East faded amid renewed geopolitical tensions between the US and Iran."The Middle East conflict escalated early this morning as the US intercepted an Iranian cargo ship trying to breach its maritime blockade, prompting Iran to vow retaliation. The prospects for a second round of negotiations remain uncertain ahead of the ceasefire's expiration on Tuesday, with Iran refusing to participate unless the blockade is lifted," Danske Bank said. "The market is likely to stay volatile this week as US and Iran will try and negotiate a deal. If oil does not start flowing through the strait soon, oil prices are likely to rise further and above USD 100/bbl again."Meanwhile, the only agenda on the Swiss economic calendar for the week is the balance of trade data for March. Elsewhere, the April ZEW economic sentiment index for Germany and the euro area, and the UK's March inflation figures are on top of the agenda.On the corporate front, Eli Lilly (LLY.SW) signed a definitive agreement to acquire biotechnology company Kelonia Therapeutics for up to $7 billion in cash, including an upfront payment of $3.25 billion and subsequent milestone-based payments. The transaction, which is set to complete in the second half, is expected to bolster Lilly's genetic medicine capabilities."Autologous CAR-T therapies have meaningfully improved outcomes for patients with various cancers, but significant manufacturing, safety, and access barriers mean that only a fraction of eligible patients actually receive them. Kelonia's in vivo platform has the potential to change that by delivering rapid, durable responses in a far simpler, off-the-shelf format," said Jacob Van Naarden, executive vice president and president of Lilly Oncology and corporate business development head. "The early clinical data for KLN-1010 are highly encouraging, both as a potential step forward for patients with multiple myeloma and as proof of concept for Kelonia's platform."

$^SSMI$LLY.SW

Asia Markets19d ago

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

European equities traded in the US as American depositary receipts started the week tracking lower late Monday morning, as the S&P Europe Select ADR Index was falling 0.54% to 1,830.11.From continental Europe, the gainers were led by semiconductor company Sequans Communications (SQNS) and telecommunications company Ericsson (ERIC), which rose 5.3% and 3.9% respectively. They were followed by telecommunications company Nokia (NOK) and internet browser company Opera (OPRA), which increased 2.7% and 2.2% respectively.The decliners from continental Europe were led by biopharmaceutical company Cellectis (CLLS) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which dropped 7.7% and 3.9% respectively. They were followed by lender Banco Santander (SAN) and biopharmaceutical company Grifols (GRFS), which were down 2.5% and 2.4% respectively.The gainers from the UK were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company BP (BP), which advanced 15% and 1.4% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and tobacco company British American Tobacco (BTI), which were up 1.1% and 0.5% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and communications company WPP (WPP), which lost 7.5% and 2% respectively. They were followed by biopharmaceutical company NuCana (NCNA) and cruise line operator Carnival (CUK), which fell 1.9% and 1.3% respectively.

$AKTX$BBVA$BDRX$BP$BTI$CLLS$CUK$ERIC$GRFS$NCNA$NOK$OPRA$SAN$SQNS$VOD$WPP

Asia Markets19d ago

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

Asian equities traded in the US as American depositary receipts were heading lower Monday morning, declining 0.81% to 2,842.26 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by education companies 17 Education & Technology Group (YQ) and Four Seasons Education (FEDU), which climbed 13% and 4.9% respectively. They were followed by game-centric live streaming platform DouYu International (DOYU) and brand platform 36Kr (KRKR), which advanced 4% each.The decliners from North Asia were led by mobile big data platform Aurora Mobile (JG) and computer hardware maker Canaan (CAN), which fell 12% and 3.2% respectively. They were followed by fintech firm J and Friends (JF) and used car marketplace Uxin (UXIN), which were down 2.7% and 2.4% respectively.From South Asia, the only gainers were IT firm Sify Technologies (SIFY) and lender ICICI Bank (IBN), which rose 1.6% and 0.6% respectively.The decliners from South Asia were led by lender HDFC Bank (HDB) and IT firm Wipro (WIT), which lost 3.4% and 2% respectively. They were followed by tech conglomerate Sea (SE) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were off 1.8% and 1.6% respectively.

$CAN$DOYU$FEDU$HDB$IBN$JF$JG$KRKR$RDY$SE$SIFY$UXIN$WIT$YQ

Asia Markets19d ago

Tadawul Shares Extend Losing Streak Amid Uncertainty on US-Iran Peace Talks

Saudi Exchange-traded shares closed Monday 0.85% in the red as the potential breakdown of the already shaky ceasefire deal between the US and Iran dampened investor sentiment.The US-Iran talks on a possible deal to end the conflict are in jeopardy as the US seized and fired on an Iranian-flagged cargo ship that was headed to the Bandar Abbas port.An Iranian source told Reuters that the US' port blockade is a hindrance to the talks, with Iranian Foreign Ministry spokesman Esmaeil Baghaei adding that the Middle Eastern country is not rushing to conduct the discussions.Back at home, the real estate price index of Saudi Arabia declined 1.6% year over year in the first quarter, according to a report by the General Authority for Statistics. The change was attributed to lower residential sector prices."The Real Estate Price Index recorded a 0.2% decline on a quarterly basis during Q1 of 2026. The Index was affected by the decline in the prices of the commercial sector by 2.3% driven by a decrease in the prices of commercial land by 2.4%, the prices of buildings by 1.3% and the prices of galleries and shops by 2.9%," the statistics agency said in its report.Meanwhile, preliminary data showed that the kingdom's operating revenue and employee compensation indices in February rose 5.9% and 9.8% year over year, respectively. However, issued building permits dropped 18.8% to 5,920 in the reporting month from 7,290 a year ago.On the corporate front, Cherry Trading Co. (SASE:4265) shares ticked up 3.11% as it secured a contract to lease 922 vehicles in Riyadh. The car rental and leasing company's board also recommended a 0.5 riyal per share dividend for 2025.

$^TASI$SASE:4265

Asia Markets19d ago

Renewed Tensions in Middle East, Iran's Refusal to Restart Peace Talks Dampen US Equity Futures Pre-Bell

US equity futures were lower pre-bell Monday as tensions once again escalated in the Middle East after the US seized an Iranian cargo ship that tried to run its blockade of Iran's ports and Iran refused to restart peace negotiations with the US in Pakistan.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.4% lower.The US had said it wanted to resume negotiations before the two-week ceasefire with Iran ends on Tuesday, but Iran's foreign ministry said it would not join new talks due the ongoing blockade and "excessive demands" of the US.Over the weekend, Iran lifted and then reimposed its own blockade on vessels passing through the Strait of Hormuz.Some of the companies expected to report quarterly earnings this week are GE Aerospace (GE) and UnitedHealth Group (UNH) pre-bell on Tuesday, Tesla (TSLA) and IBM (IBM) after-market on Wednesday, Intel (INTC) after-market on Thursday, and Procter & Gamble (PG) pre-bell on Friday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.9% at $94.81 per barrel and US West Texas Intermediate crude 5.6% higher at $87.25 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 0.8% higher. Meanwhile, the UK's FTSE 100 was down 0.6% and Germany's DAX index was 1.3% lower in Europe's early afternoon session.In equities, shares of major oil companies Exxon Mobil (XOM), Chevron (CVX), and ConocoPhillips (COP) were up 1%, 1.2%, and 1.7%, respectively, as oil prices increased on Monday. Marvell Technology (MRVL) stock was up 5.8% after The Information report the company was in talks with Alphabet's (GOOG, GOOGL) Google to develop two new processors optimized for artificial intelligence inference tasks.On the losing side, BHP Group (BHP) stock was down 1.2% after a Bloomberg News report the company and Mitsubishi Development started a review of their coal and other mining assets in Queensland over concerns about the royalty demands of the Australian state.

$^DJI$^IXIC$^SPX$BHP$COP$CVX$GE$GOOG$GOOGL$IBM$INTC$PG$TSLA$UNH$XOM

Asia Markets19d ago

UAE Indices Close Lower as Geopolitical Jitters Resurface

Emirati equities began the new trading week in the red as renewed tensions between the US and Iran over the blockade of the Strait of Hormuz dampened investor sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.799%, while the DFM General Index declined 2.093%.The latest developments related to the Middle East conflict diminished hopes of a resolution after the US seized an Iranian cargo vessel. Iran responded by saying that it does not plan to pursue further peace talks with the US.Meanwhile, US President Donald Trump said in a social media post that they are offering Iran a "fair and reasonable" deal and threatened to strike its energy infrastructure if they do not accept it."In terms of the immediate focus, the question is whether investors will receive further positive news on renewed peace talks in Pakistan, or whether both sides will talk tough and potentially act tougher ahead of tomorrow's deadline on the two-week ceasefire. Today's benchmark of any progress will probably be whether Iran sends any negotiators to peace talks, now that US representatives are already on their way there. The mood music of markets is one of concern, but one that sees progress towards a resolution," ING said.Zooming in at home, ADGM, Abu Dhabi's international financial center, and Futian District People's Government of Shenzhen partnered to boost collaboration in financial services, talent development, and artificial intelligence, as well as enhance cross-border engagement.On the corporate side, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, said that its operational and industrial activities faced no material disruption amid the ongoing tensions in the Middle East. Shares of the building materials company closed the session 14.48% in the green.Al Ramz Corp. Investment and Development (DFM:ALRAMZ) launched the initial public offering of the Horizons GCC Sukuks Fund and the Fortitude GCC Equity Fund. The investment company's shares closed flat when it last traded on April 17.

$^DFMGI$^FADGI$ADX:BILDCO$DFM:ALRAMZ

Asia Markets19d ago

US Equity Investors to Focus on Geopolitical Risk While Earnings Season Gathers Momentum

US equity investors will focus on mounting geopolitical risk in the Middle East while keeping an eye on Q1 earnings and retail sales.* Iran vowed retaliation after the US Navy seized an Iranian cargo ship in the Gulf of Oman, endangering the planned second round of negotiations in Pakistan this week to find a lasting solution for peace for Tehran, according to multiple media reports.* US Vice President JD Vance and top US officials were expected to travel to Islamabad, but Iran's foreign ministry insisted there were no plans for talks, CNN reported. The ceasefire, which the US and Iran have accused each other of violating, expires on Wednesday.* After scaling fresh records on Friday amid optimism that an Iran peace deal could materialize without extending the two-week ceasefire, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average futures slumped early on Monday amid concerns of an escalation of the war in the Middle East.* West Texas Intermediate crude oil futures soared 7.2% to $89.92, and Brent crude futures jumped 6.3% to $96.10 pre-bell. Reflecting the potential impact of elevated crude oil prices on inflation, gold futures dropped 1.5% to $4,808.8, and silver futures slumped 3% to $79.37 early Monday. Similarly, most US Treasury yields rose, with the 10-year up 2.2 basis points to 4.27% and the two-year jumped 3.5 basis points to 3.74%.* The highlight of quarterly earnings this week will be Tesla (TSLA) as well as some technology names such as Intel (INTC), IBM (IBM), Lam Research (LRCX), Texas Instruments (TXN), and SAP (SAP). Other mega-caps expected to report this week include American Express (AXP), GE Vernova (GEV), Boeing (BA), and United Health (UNH).* In US macroeconomic data, investors will focus on retail sales, S&P Global manufacturing and services PMIs, ADP employment change, initial jobless claims, and the final read on Michigan consumer sentiment alongside Michigan inflation expectations for one and five years ahead.

$^DJI$^IXIC$^SPX$AXP$BA$GEV$IBM$INTC$LRCX$SAP$TXN$UNH

Asia Markets20d ago

Tadawul Shares Start Week Lower Amid Continued Middle Eastern Conflict Jitters

The Tadawul All Share Index closed 0.78% lower on Sunday amid market jitters on the updates regarding the fragile ceasefire agreement between the US and Iran.Reuters reported that the Strait of Hormuz closed again after reopening for one day. The area was blocked off again after Iran accused the US of violating its agreement due to the blockade of ports in the Middle Eastern nation.Further to this, the two sides noted that their talks to end the conflict were making progress. However, Iran's Deputy Foreign Minister Saeed Khatibzadeh noted that there was no exact date for its next round of in-person discussions."We are now focusing on finalising ⁠the framework of understanding between two sides. We don't want to enter into any negotiation or meeting which is doomed to fail and which can be a pretext for another round of escalation," Khatibzadeh said. "Until we agree the framework, we cannot set the date... There was significant progress made actually. But then the maximalist approach by the other side, trying to make Iran an exception from international law prevented us to reach an agreement."Back at home and on the corporate front, the board of Maharah Human Resources (SASE:1831) proposed to distribute a 0.13 Saudi riyal-per-share interim cash dividend for the second half of 2025, as well as increase its capital to 600 million riyals through bonus share issues. Shares of the human resources and outsourcing company closed 0.16% higher.Looking ahead to the week, the local economic calendar will see the release of the real estate price index for the first quarter and the February short-term business indicators statistics figures on Monday, as well as the February import and export data on Thursday.

$^TASI$SASE:1831

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