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 Index climbed 1% to above 36,000 while the broader Topix Index rallied 1.2% to 2,670 on Monday, extending last week's rally, with export-oriented companies leading the gains as the yen retreated from multi-month highs. A weaker yen boosts the profit outlook for Japan's export heavy industries and makes Japanese assets more attractive to foreign investors. Markets also kept a close eye on trade negotiations between the US and Japan, which appeared to be making progress. Industrial names posted strong gains, with Mitsubishi Heavy rising 3%, Toyota Industries up 2.3%, and...
Asia-Pacific markets rose higher Monday as investors await further stimulus measures from China as well as developments in trade negotiations between the U.S. and countries in the region. Over the weekend, China's finance minister Lan Fo'an said that the Asian powerhouse will "adopt more proactive macroeconomic policies to promote the realization of the expected growth target for the whole year and continue to bring stability and momentum to the global economy," according to a Google translation of a statement posted on the ministry's website. Chinese authorities are slated to hold a press...
US stocks closed higher on Friday, marking a fourth straight session of gains, driven by strength in Big Tech, while President Trump's latest tariff remarks kept trade tensions in the spotlight. The S&P 500 rose 0.7%, the Nasdaq gained 1.1%, and the Dow gained 20 points. Trump's suggestion of a 50% tariff would be a "total victory" added to uncertainty, while Beijing dismissed claims that talks were ongoing, offsetting optimism from China's decision to exempt some US goods from tariffs. Alphabet shares rose 1.5% after beating earnings estimates, declaring its first dividend, and...
European stocks extended their rally into a fourth session on Friday, with the STOXX 50 up 0.8% and the STOXX 600 up 0.3%. Traders took some comfort from signs of a potential U.S.-China tariff truce, despite denials from China and advances from the U.S. Reports suggested China was considering suspending 125% tariffs on certain U.S. imports, while President Trump reiterated that trade talks were going well. Both indexes posted a second straight week of gains, up 4.4% and 2.5% respectively. Earnings season, meanwhile, remained in focus, with Safran shares up 4.2% after the company reported...
The three major averages in the US swung between small gains and losses on Friday, after gaining in the previous three sessions, as traders weigh confusing signals on trade developments and a fresh batch of corporate earnings. There were reports that China was considering suspending its 125% tariff on certain US imports, but Chinese authorities stated that no tariff negotiations were underway. Meanwhile, President Trump said his administration was in discussions with Beijing. Communication services was by far the top performer while energy, materials and health booked the biggest...