European stocks closed mostly higher to extend the positive momentum this week on strength in healthcare and luxury brands. The Eurozone's STOXX 50 inched higher to 5,651 and the pan-European STOXX 600 rose 0.5% to 570, both at record highs. Sanofi, Novo Nordisk, Merck, and UCB rose more than 2%, extending their surge this week after the US Presidential Administration signaled that tariffs on pharmaceutical goods may be less aggressive than feared, while allowing patients to buy discounted prescription drugs through a new federal website. Luxury giants were also higher as markets assessed...
European stocks closed lower on Friday, easing from record highs hit in the last session but still sharply higher for the week as markets continued to assess the chances of peace in Ukraine this year and the impact of potential tariffs from U.S. President Trump. The euro zone STOXX 50 fell 0.2% to close at 5,488 after hitting a record high for the first time in 25 years yesterday, while the pan-European STOXX 600 fell 0.3% to 552. Trump announced plans for reciprocal tariffs on a country-by-country basis, which will come into effect as early as April. Healthcare and insurance companies led...
The three major averages in the US swung around the flatline on Friday, as traders digest much weaker-than-expected retail sales that raised concerns about the strength of the US consumer spending. Retail sales declined 0.9% last month and the control sales which is used to calculate GDP declined 0.8%. Consumer spending was likely hit by harsh weather and wildfires in LA. Meanwhile, President Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs. Investors await further details and remain hopeful that negotiations...
Hong Kong stocks surged more than three percent on Friday, in line with a global rally fuelled by relief over the timeline of US President Donald Trump's latest tariffs. Sentiment was also boosted by a Bloomberg report that China had invited Alibaba co-founder Jack Ma and other entrepreneurs for a meeting with top brass, fuelling hopes of further support for the country's private sector. The Hang Seng Index jumped 3.69 percent, or 805.96 points, to 22,620.33. The president said Thursday he decided to impose fresh reciprocal duties on trading partners, telling reporters that US allies were...
European stock markets opened lower on Friday after hitting record highs earlier this week. The pan-European Stoxx 600 index moved 0.1% lower when markets opened. The U.K.'s FTSE 100 was down by 0.25%, and Germany's DAX was lower by 0.3%. Meanwhile, France's CAC 40 opened flat. Asia-Pacific markets were mixed Friday, after Wall Street rose overnight as President Donald Trump signed a reciprocal tariffs plan, but did not enact the levies immediately. Mainland China's CSI 300 Index rose 0.86%, while Hong Kong's Hang Seng index surged 3.06%, extending its gains from the previous...
Japan stocks were lower after the close on Friday, as losses in the Textile, Transportation Equipment and Chemical, Petroleum & Plastic sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.79%. The best performers of the session on the Nikkei 225 were Toppan Printing Co., Ltd. (TYO:7911), which rose 15.52% or 632.00 points to trade at 4,703.00 at the close. Meanwhile, Sony Corp (TYO:6758) added 8.65% or 295.00 points to end at 3,705.00 and Trend Micro Inc. (TYO:4704) was up 6.77% or 735.00 points to 11,595.00 in late trade. The worst performers of the session were...