Europe's STOXX 600 closed at a record high on Wednesday, with healthcare stocks leading the way after a U.S.-Pfizer deal reduced uncertainty in the sector, while investors digested the beginning of a U.S. government shutdown. The pan-European STOXX 600 surged 1.2% to log its biggest one-day percentage gain since July 23. Most regional bourses were also trading higher, with London's FTSE 100 at a record high. Healthcare stocks jumped 5.4%, marking their biggest one-day performance since November 2008. On Tuesday, Pfizer agreed to lower prescription drug prices in the U.S. Medicaid programme...
European markets opened lower on Tuesday as global markets slumped amid concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The pan-European Stoxx 600 index fell about 0.2% shortly after the opening bell, with the U.K.'s FTSE 100 down 0.2%, while France's CAC 40 gained 0.3% and Germany's DAX added 0.2%. The travel and leisure sectors led the losses. Health care stocks were also in negative territory, after Danish pharmaceutical giant Novo Nordisk's latest weight-loss drug trial results. The pharmaceutical giant fell about 2.62% in early trade, while...
The Hang Seng Index closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Properties and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile,...
The Hang Seng closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Property and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile, U.S. stock...
European markets opened mixed on Tuesday as global markets weighed on concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The U.K.'s FTSE 100 is expected to open 9 points higher at 8,606, Germany's DAX is up 5 points at 22,613, France's CAC is down 7 points at 8,041 and Italy's FTSE MIB is down 9 points at 38,816, according to data from IG. Traders will be focused on earnings from Persimmon, Lego and Leonardo, also due on Tuesday. Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing rising costs and "exceptional...
Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.32%. The best performers of the session on the Nikkei 225 were Yokogawa Electric Corp. (TYO:6841), which rose 3.34% or 100.00 points to trade at 3,095.00 at the close. Meanwhile, Aozora Bank, Ltd. (TYO:8304) added 2.56% or 54.00 points to end at 2,163.00 and Nexon Co Ltd (TYO:3659) was up 2.50% or 50.00 points to 2,046.50 in late trade. The worst performers of the session were Konica Minolta, Inc. (TYO:4902),...