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Central Bank, Middle East Outlooks Nudge European Bourses Higher Midday

European bourses tracked moderately higher midday Monday as traders weighed a Tehran plan to re-open the Strait of Hormuz and looked ahead to Bank of England and European Central Bank rate decisions, slated for Thursday.Bank and oil stocks led gains on continental trading floors, while food shares lagged.European blue-chips including banks Deutsche Bank, Santander, and BNP Paribas, and automakers Volkswagen, Stellantis, and Mercedes-Benz, are slated to report earnings later this week.Investors also eyed flat Wall Street futures amid higher closes overnight on Asian exchanges.The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.The Stoxx Europe 600 Technology Index was steady, and the Stoxx 600 Banks Index gained 1%.The Stoxx Europe 600 Oil and Gas Index advanced 0.8%, while the Stoxx 600 Europe Food and Beverage Index declined 0.4%.The REITE, a European REIT index, gained 0.4%.On the national market indexes, Germany's DAX was up 0.8%, and the FTSE 100 in London gained 0.3%. The CAC 40 in Paris was up 0.6%, and Spain's IBEX 35 advanced 0.8%.Yields on benchmark 10-year German bonds were steady, near 3.01%.Front-month North Sea Brent crude-oil futures were up 0.7% at $99.77 a barrel.The Euro Stoxx 50 volatility index was down 1.8% at 23.17, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International148d ago

Fed, Persian Gulf Outlooks Cap Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed sideways pre-bell Monday, on media reports that Tehran has floated a proposal to reopen the Strait of Hormuz, and as traders await the Federal Reserve's next interest-rate decision, slated for 2pm on Wednesday.In the futures, the S&P 500 was steady, the Nasdaq inclined 0.2% and the Dow Jones was off 0.1%.On the earnings scene later this week, five of the "Magnificent Seven" enterprises, those being Alphabet (GOOGL), Microsoft (MSFT), Amazon.com (AMZN), Meta Platforms (META), and Apple (AAPL), are slated to report.Looking forward on the economic calendar, the Q1 gross domestic product (GDP) first estimate, and the March personal consumption expenditure-core, or PCE-core, inflation index, will be released Thursday pre-bell.Asian exchanges traded mostly higher overnight, with Tokyo's Nikkei 225 index gaining 1.4% to top the 60,000-milestone for the first time.European bourses tracked moderately north midday on the continent.Qualcomm (QCOM) traded up 12% pre-bell on media and brokerage reports that semiconductor-maker may be working with Microsoft's (MSFT) OpenAI to develop smartphone processors.On the economic calendar is the Dallas Federal Reserve manufacturing survey for April, at 10:30 am ET.In premarket action, Bitcoin traded at $77,800, West Texas Intermediate crude oil traded up 1.6% at $95.89, and 10-year US Treasuries offered 4.31%. Spot gold commanded $4,706 an ounce.

Dow JonesNasdaq CompositeS&P 500

International148d ago

Earnings Season, Tehran Proposal Lift Asian Stock Markets

Asian stock markets largely gained ground Monday on strength in tech issues, and on media reports that Tehran has floated a proposal to reopen the Strait of Hormuz. A generally good industrial profits report from Beijing also boosted sentiments.Shanghai and Tokyo finished in the green, while Hong Kong edged lower. Other regional exchanges mostly finished higher.In Japan, the Nikkei 225 opened evenly but rose to the close, gaining 1.4% to strike a fresh all-time high. Strong earnings results offset a risk-off mood.The benchmark Nikkei 225 index rose 821.18 to 60,537.36, the first-ever close above the 60,000-milestone, although losing issues outnumbered gainers 129 to 94.Leading the upside was industrial robot maker Fanuc, up 16%, while Chugai Pharmaceutical declined 15.8%, with both moves following earnings reports.In Hong Kong, the Hang Seng Index finished off 0.2%, undercut by property issues.The broad gauge Hang Seng fell 52.42 to 25,925.65, as losing issues outnumbered gainers 53 to 36. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index fell 0.7%.Leading the upside was Semiconductor Manufacturing International, gaining 6.1%, while Sinopharm declined 3.8%.On the mainland, the Shanghai Composite rose 0.2% to 4,086.34.In economic news, industrial profits in China rose 15.8% on the year in March, largely on the back of private-sector enterprises, said the National Bureau of Statistics. The agency's survey is limited to companies with more than $2.9 million a year in revenue.On the other regional exchanges, the South Korean KOSPI rose 2.2%; the Taiwan TWSE advanced 1.8%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index fell 0.6%, and the Thai Set rose 1.6%. In late trading in Mumbai, the Sensex was up 0.8%The MSCI All Country Asia Pacific Index rose 1.2% on the day.

Hang SengNikkei 225Shanghai Composite

International148d ago

Ifo: German Export Morale Inches Up in April

German exporters turned slightly optimistic in April, while the overall sector moved neither forward nor backward due to geopolitical uncertainty, the ifo Institute said Monday.The ifo export expectations indicator increased to 0.1 point in April, from -0.7 points in March, as positive expectations roughly offset negative ones.Across the board, the export outlook for the automotive industry, electronics sector, and furniture manufacturers declined but remained generally positive. Expectations for shipments of food and beverages increased "significantly," while energy-intensive businesses forecasted lower exports.

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International148d ago

CBI: UK Retail Sales Balance Drops in April

The Confederation of British Industry distributive trade survey's retail sales balance fell to -68% in April from -52% in March, according to data published Monday.The consensus estimate was -42% for the month, according to Investing.com data.

FTSE 100

International148d ago

Visa-Free Travel Lifts Beijing Border Crossings

Beijing saw a 13% year-over-year rise to over 7 million border crossings as of April 26, reflecting China's expanding visa-free access.Foreign entries exceeded 2.3 million by Sunday, jumping 34% from the previous year. About 828,000 foreign arrivals, comprising over 70% of all entrants, entered visa-free or via temporary permits, according to the Beijing General Station of Exit and Entry Frontier Inspection.China's visa-free access now covers 50 countries unilaterally and offers 240-hour transit waivers for 55 nations.

Shanghai Composite^SZSE

International148d ago

Asia Week Ahead: Central Bank Decisions; Inflation Prints; and Trade Data

For the week ahead in Asia, the economic calendar is packed with major data releases, central bank decisions and inflation updates across the region.Monday brings China's first-quarter industrial profits data, as well as Malaysia's producer prices.On Tuesday, markets will turn to the Bank of Japan's interest rate decision, alongside trade figures from Hong Kong and Macao, and India's March production report.Wednesday features Thailand's central bank rate decision and Australia's closely watched quarterly inflation print, while Thursday brings China's official and private PMI readings.On Friday, Japan's Tokyo core inflation reading will be in focus, along with South Korea's April trade data.Here's what to watch in the week ahead.MONDAY, April 27The week kicked off with the release of China's industrial profits data for the first quarter.The total profits of China's industrial enterprises rose 15.5% year on year to 1.696 trillion yuan during the first three months of 2026, with increases seen in the mining, manufacturing, technology, and chemical industries.A drop in profits was witnessed in the utilities industry, as well as the electricity and heat and agricultural industries, data from the National Bureau of Statistics showed.Singapore disclosed its manufacturing output stats for March, highlighting a 10.1% jump in production thanks to strong growth across almost all clusters.Malaysia's producer prices rose in March for the first time in a year, driven largely by a rebound in the mining sector, according to Trading Economics.Producer prices climbed 1.1% year on year, reversing a 3.4% decline in the previous month.Meanwhile, Taiwan's consumer confidence index edged up to 62.47 in April, rising 0.17 points from March.The uptick was driven by improvements in four sub-indicators, with sentiment on employment opportunities posting the largest monthly gain.A pair of reports covering business and consumer confidence was also due in the Philippines.TUESDAY, April 28Markets will turn their attention to an interest rate decision scheduled in Japan.The upcoming decision could be a complicated one for the Bank of Japan as it grapples with intensifying inflation domestically and the uncertainty surrounding the Middle East, ING said in a preview.While markets broadly expect the central bank to maintain rates at 0.75%, ING said it continues to believe there's a chance the Bank of Japan may hike rates.Japanese unemployment data is also due the same day, with observers expecting the jobless rate to hover around the 2.6% mark, unchanged from the prior month, according to a consensus compiled by Trading Economics.Hong Kong will disclose trade stats for March. According to Trading Economics, the city state's trade deficit could narrow to HK$43 billion from the HK$64.2 billion recorded in February.Macao will similarly release balance of trade figures. The city state's trade deficit could narrow to 9.4 billion pataca in March from 9.9 billion pataca a month prior, Trading Economics forecasted.India's industrial production data for March will also be in the news. A consensus compiled by Trading Economics indicated analysts expect India's industrial production growth to slow to a rate of 4.2% from 5.2% in February.India's manufacturing weakened in March as geopolitical tensions in the Middle East, unstable market conditions, and inflationary pressures impacted output, S&P Global said previously. However, conditions appeared to have improved in April, according to the firm's most recent flash purchasing managers' index release.South Korea's business confidence report for April will be due the same day.WEDNESDAY, April 29Thailand's central bank will meet for its interest rate decision.The Bank of Thailand is seen to hold rates steady at 1% amid softening growth and inflationary pressure due to the conflict in the Middle East, the Wall Street Journal reported.Thailand's March Industrial production data is also expected on the same day.Australia's latest inflation print will be in the news, providing markets with an overview of pricing pressure ahead of the Reserve Bank of Australia's May board meeting.Westpac said it expects to see a 4.2% yearly gain in headline inflation for the March quarter.The quarterly data is likely to affirm for the Reserve Bank of Australia that the underlying inflation pressures are evident in the economy before the escalation of the Middle East conflict in late February, ANZ said in a preview.In Singapore, March import and export prices will be expected, as well as producer price inflation data.THURSDAY, April 30China's manufacturing and services sectors will be in focus as the National Bureau of Statistics releases its monthly purchasing managers' index covering manufacturing, non-manufacturing, and general PMI for April.The release will be accompanied by a private reading on China's manufacturing sector from S&P Global.Economists at ING said they expect official data to show activity dipped back into contractionary territory following the expansion witnessed in March.ING forecasts manufacturing PMI falling to 49.9 and the non-manufacturing PMI dipping to 49.8, and said it expects to see pricing pressure continuing to build in the PMI sub-indices.Taiwan will release its first-quarter advance gross domestic product growth rate, with markets looking for signs of whether the island state's economy can continue posting stellar growth due to its global positioning in high-precision semiconductor production.Researchers at ANZ expect Taiwan's first-quarter GDP growth rate to come in at 11.8%, slowing from the 12.7% rise witnessed in the prior quarter, the Wall Street Journal reported.In Australia, the first-quarter import and export prices data is expected. CommBank said it expects export prices to rise 1.2% while import prices to decline 0.6%, both on a quarter-on-quarter basis.Meanwhile, a confidence report due in New Zealand is likely to show a further deterioration in business sentiment due to the ongoing Middle East conflict, CommBank said in a preview.Further trade data is expected in the Philippines, which could see its trade deficit widen to $4.1 billion in March from $3.68 billion in April, according to Trading Economics.Both South Korea and Japan will release industrial production and retail sales data for March.ING said it expects Japan's industrial production to "rebound quite firmly" during the month. The firm expects industrial output to rise 2.2% year on year from the 0.4% rise witnessed in February.Japan will additionally release a consumer confidence report for April, while a similar release covering business confidence will be due in Singapore.Singapore's first-quarter preliminary unemployment rate will also be released on Thursday.Thailand's February retail sales stats will be due.FRIDAY, May 1Japan's closely watched Tokyo core consumer price index for April will capture headlines, offering markets an early indicator of the overall inflation rate in the country."The Tokyo CPI is expected to rise faster in April, reflecting recent energy price hikes, a weak JPY, solid wage growth, and bi-annual price adjustments," ING said in a preview.South Korea announces April trade data.The country's trade surplus could drop marginally to $26 billion from $26.2 billion a month prior, even as exports show a 50% year on year growth due to robust chip shipments, ING said.A consumer confidence report due in New Zealand could show sentiment weakening further in April and over the coming months amid the Middle East conflict, CommBank said in a preview."As the conflict progresses, overall consumer confidence is expected to continue falling," CommBank said.Neighboring Australia will release first-quarter produce price data.On the activity front, S&P Global releases its PMI reports covering manufacturing activity in Australia and Japan.

ASX 200^BSEHang SengFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted

International148d ago

Malaysia's Producer Price Index Ends 12-Month Slump with 1.1% Growth in March

Malaysia's Producer Price Index (PPI) rose 1.1% year on year in March, reversing a 3.4% decline in February and marking the first increase since March 2025, the Department of Statistics Malaysia reported Monday.The mining sector surged 26.5%, driven by a 38.5% jump in crude oil extraction, while the water supply index rose 11.3% and electricity and gas supply increased 9.6%.Agriculture, forestry and fishing contracted 5.6%, weighed down by an 11% drop in perennial crop production, while manufacturing edged down 0.8%.Monthly, the PPI increased 4.1% in March, compared with a 0.5% decline in February, the department said.

FTSE Bursa Malaysia KLCI

International148d ago

Japan Leading Index Rises, Coincident Index Eases in February

Japan's leading economic index rose in February, while the coincident index eased, government data showed Monday.The leading index, which gauges the outlook for the months ahead based on indicators such as job offers and consumer sentiment, was revised up to 113.3 from a preliminary 112.4 and from a downwardly revised 112 in January.The coincident index, which tracks current economic activity including factory output, employment and retail sales, stood at 116.3, down from an upwardly revised 118.1 in January.

Nikkei 225

International148d ago

Philippine Business Sentiment Drops Sharply in March Amid Middle East Tensions

Philippine business sentiment deteriorated sharply in March as concerns over higher fuel costs stemming from Middle East tensions dampened outlook, The Bangko Sentral ng Pilipinas survey showed Friday.The confidence index plunged to -24.3% from 8.2% in February, while the outlook for the next quarter fell to -17.3% from 37.4%.The 12-month outlook remained positive but weakened significantly to 11.7% from 51.1%, reflecting worries over geopolitical risks and ongoing inflation, the central bank said.Hiring plans also softened for both the coming quarter and year, indicating slower job growth ahead.Firms expect inflation to rise above the central bank's 3% target but stay within its allowed range, with the central bank ready to act if pressures increase., the report said.

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International148d ago

GfK: German Consumer Sentiment to Further Deteriorate in May Amid Iran War Uncertainty

German consumer sentiment is expected to worsen in May, with the indicator down to -33.3 points from the revised -28.1 points in April, Growth from Knowledge said Monday.Analysts expected -29.5 points for the month.The latest reading reflects a sharp decline in income expectations and a decrease in the willingness to buy to a two-year low as inflation rises due to higher energy prices amid the Iran war.

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International148d ago

Taiwan Consumer Confidence Improves Slightly in April

Taiwan's consumer confidence index (CCI) edged up to 62.47 in April, rising 0.17 points from March, the Central Taiwan Economic Development Research Center at National Central University reported on Friday.The uptick was driven by improvements in four sub-indicators, with sentiment on employment opportunities posting the largest monthly gain.Confidence in the domestic economic outlook and household finances also increased, while stock investment sentiment saw a modest rise. However, views on purchasing durable goods recorded the sharpest decline, alongside a slight drop in price-level expectations.All six core sub-indicators remained below 100, indicating overall pessimism among consumers, the report said.

Taiwan Weighted

International148d ago

Singapore Manufacturing Output Rises 10% in March

Singapore's manufacturing output jumped 10.1% in March, backed by strong growth across almost all clusters, the city-state's Department of Statistics reported Monday.Excluding biomedical manufacturing, output rose 13.5% year-on-year in March.Electronics output grew 30%, driven by robust AI-related demand, the data showed. Precision engineering gained 14.0%, while general manufacturing and transport engineering expanded 7.6% and 2.0%, respectively.Meanwhile, biomedical manufacturing fell 14.3%, mainly due to softer demand for medical devices, while chemicals dropped 16.0%.On a month-on-month basis, manufacturing output increased 4.7% in March. Excluding biomedical manufacturing, output was up 3.5% on a monthly basis.

^STI

International148d ago

New Zealand Reviews Transport Rules to Improve Fuel Security

The New Zealand Government said it is preparing to remove or suspend regulatory barriers that make it harder for businesses and communities to cope with global fuel shocks, according to a Monday statement from Minister for Regulation David Seymour and Minister for Transport Chris Bishop.The government is exploring several policy shifts, including allowing some heavy vehicles to carry more weight per trip, and bringing some license class weight thresholds for zero-emission vehicles in line with similar diesel vehicles.The government is also considering relaxing time and access restrictions for over-dimension vehicles and removing some restrictions on the routes that over-dimension vehicles can use and when they can travel.Seymour said that the Government intends to avoid a lockdown situation due to the oil shock and remain in the first phase of the National Fuel Response Plan for as long as possible.The statement said that the government is considering all options so they can be implemented quickly if New Zealand moves to phase two, and they expect options to be ready by the end of April if needed.In case the move to the second phase becomes less likely, some options could be reworked into more permanent changes to reduce the impact of elevated fuel prices on the economy over the medium to long-term, the statement added.

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International148d ago

China's Industrial Profits Jump 15.5% in Q1

The total profits of China's industrial enterprises in the first quarter jumped 15.5% year on year to 1.696 trillion yuan, according to data from the National Bureau of Statistics on Monday.Profits in the mining industry in the period between January and March rose 16.2% from a year earlier to 256.33 billion yuan, while that of the manufacturing industry climbed 19.1% to 1.238 billion yuan.The utilities industry's profits slipped 3.2% year on year to 201.3 billion yuan.Moreover, the profits of the technology industry and the non-ferrous metal industry both rose 1.2 times. The chemical industry's profit jumped 54.5% from a year earlier and the coal mining industry inched 6.7% higher.Profits within the petroleum and coal industry swung from loss to profit, but the oil and gas extraction industry slipped 1.4%.Other industries also fell, such as the electricity and heat industry ant the agricultural industry, which dropped 3.4% and 6%, respectively.

Shanghai Composite^SZSE

International150d ago

USD/CAD Range-Bound As Pair Holds Recent Ranges, RBC Says

RBC Capital Markets said USD/CAD is likely to remain range-bound in the short term, as this week's data and geopolitical developments were not enough to shake the pair out of recent ranges.The pair is nearly flat on the week, as this week's data (CA CPI, BoC Business Outlook Survey, US retail sales) and the stream of Iran-related headlines were not enough to shake the pair out of recent ranges, RBC said.RBC CAD Weekly Soundbites, noted a sharp leg lower below the 1.3500 area requires either 1) the US-CA rates spread to narrow more quickly than priced, cheapening the USD hedging costs, or 2) markets to attach a higher risk premium on US assets.RBC added that USD/CAD has been re-establishing its negative correlation to US equities after being 'risk-neutral' for much of the past year. This means USD/CAD is again acting like a natural hedge under risk-off - whether or not this continues will matter from a hedging incentive perspective.From a technical standpoint, RBC's George Davis said key trendline support at 1.3647 has held this week as the daily studies moved to oversold levels.A daily close below 1.3647 would end the corrective phase that has been in place since late January and favour a re-test of this year's lows at 1.3526 and 1.3482, RBC said.RBC added that resistance at 1.3799 and 1.3856 is expected to attract selling interest.

$CXY$CAD$USD

International150d ago

Cargo Traffic to Los Angeles Port Expected to Fall in Week Ending May 9

Cargo traffic at the Port of Los Angeles is expected to fall in the week ending May 9, according to data from the ship-tracking system Port Optimizer.A total of 73,542 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a roughly 34% decrease from the previous week and a 0.8% increase from a year earlier.Eighteen freight vessels are scheduled to arrive at the port in the week ending May 9, the data showed. That is fewer than the 19 vessels each during this week and the week ending May 2.

International150d ago

Daily Roundup of Key US Economic Data for April 24

The University of Michigan consumer sentiment index for April was revised higher to 49.8 from the preliminary estimate of 47.6 but was still below March's reading of 53.3.Michigan said that sentiment declined in April across the political spectrum and inflation expectations remained high despite the two-week cease fire in Iran.The Kansas City Fed's services index fell to 3 in April from 15 in March. Other regional services data already released have indicated contraction, but the S&P Global flash estimate released earlier in the week showed continued expansion.The Q1 GDPnow estimate from the St. Louis Fed is for a 2.442% gain, up from a 2.274% increase in the previous week.

International151d ago

St. Louis Fed US Q1 GDP Nowcast Estimate 2.442% Gain vs Previous 2.274% Gain

International151d ago

Kansas City Fed Services Index Indicates Slower Expansion in April

The Kansas City Federal Reserve's monthly composite services index fell to a reading of 3 in April after rising to 15 in March, compared with a smaller expected decrease to a 10 print in a survey compiled by Bloomberg as of 7:30 am ET.A reading above zero indicates growthThe index still indicates expansion, which is in line with the S&P global flash index released earlier but in contrast with the other regional services measures already released that indicated contraction.There was a decrease in the Kansas City revenue/sales reading to 6 from 18, while the employment reading declined to minus 5 from 7.The reading of selling prices rose to 23 from 19, while the input price index increased to 48 from 45.

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