Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade deal. Autos was among the worst-performing sectors, down 1.8%, as industry bosses warned that while manufacturers have regained some certainty, they will be left facing substantially higher costs. Brewing giant Heineken dropped 8.45% after reporting lower beer sales in the first half and flagging "softening sentiment in Europe and the Americas." Oil and gas stocks meanwhile finished 1.16% higher on broader optimism over the global trade outlook, and as...
The Nikkei 225 jumped 329 points or 0.9%, to 37,830 in early Tuesday trade, recovering from the prior day's weakness. The rally followed a modest rise in U.S. futures after the S&P 500 eked out a gain despite Moody's downgrade of the U.S. credit outlook. The broader Topix index also climbed, extending recent gains. Investors kept a close watch on ongoing U.S.-Japan trade talks, hoping for a finalized deal by June. On the corporate front, Reuters said that Nippon Steel plans to invest $14 billion in U.S. Steel's operations. Gains were tempered by caution ahead of Japan's upcoming April...
US stocks pared early losses on Monday, with the S&P 500 ending 0.1% higher after falling 1.1%, as Treasury yields retreated from their highs. The Dow rose 137 points, while the Nasdaq edged higher, as markets digested a Moody's downgrade of the US credit rating to Aa1, citing rising deficits and refinancing risks. The downgrade pushed the 10-year yield near 4.5% and the 30-year above 5%, levels that have previously weighed on equities. Treasury Secretary Scott Bessent downplayed the move and urged trading partners to engage during a 90-day tariff pause. President Trump has continued to...
European stocks recouped losses from earlier in the day to close flat, after bonds came off session lows and several companies delivered good earnings. The Stoxx Europe 600 Index closed 0.1% higher, having earlier shed as much as 0.8%. The losses came after Moody's Ratings stripped the US government of its top credit rating soured investor sentiment and trade tensions continued to weigh. While auto and energy shares lagged, telecoms, travel and leisure stocks made gains. A large quantity of European shares were also trading ex-dividend. Among individual stocks,...
US stocks were lower on Monday, with the S&P 500 down 1%, the Nasdaq falling 1.3%, and the Dow shedding around 280 points, as investors retreated from US assets amid growing concerns over the country's fiscal and economic outlook. The sell-off followed Moody's downgrade of the US credit rating from Aaa to Aa1 on Friday, citing rising government debt and a widening budget deficit. Adding to the pressure, a key congressional committee on Sunday approved President Trump's proposed tax-cut package, which includes hundreds of billions of dollars in new, unfunded tax reductions, deepening...
The Hang Seng ended little changed to end at 23,333 on Monday, swinging early drop amid gains mainly from consumer stocks. Sentiment improved after China's April factory activity showed strength despite rising U.S. tariffs. Meantime, new home prices in the mainland fell the least in 11 months, though it marked the 22nd straight monthly drop. Investors also awaited a scheduled call between U.S. President Trump and Russian Putin, hoping it could ease tensions over the war in Ukraine. Locally, Hong Kong's economy expanded 3.1% yoy in Q1 2025, in line with flash estimates and up from a revised...