European shares reversed their earlier declines to close slightly higher on Tuesday, with energy stocks limiting broader gains, while investors weighed the potential impact of a U.S. government shutdown on financial markets. The pan-European STOXX 600 closed 0.5% higher, in its third consecutive session of gains. The index logged a quarterly rise and a third month in positive territory, its best showing since May. London's FTSE 100 hit an intraday record high. Most sectors were on the rise, with media stocks gaining 1.2% and retail up 1.1%. Industrial and healthcare stocks provided the...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The S&P 500 rose 0.3% to 6,400 and the Nasdaq 100 gained 0.5% to break through 23,400, both reaching record highs, while the Dow Jones Industrial Average hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the largest railroad deal in the US. Meanwhile, tech giants mostly gained ahead of earnings results from the world's largest companies by market capitalization this week, including Microsoft,...
The Hang Seng Index weakened 38 points, or 0.15%, to close at 25,524 on Tuesday (July 29th), reversing gains from the previous session as most sectors declined. Traders are increasingly cautious about the potential negative impact of the US-EU trade deal, including its implications for growth and inflation. Meanwhile, President Trump raised global tariffs by 15% to 20% for non-negotiating partners, a level not seen since the Great Depression. Profit-taking also weighed after benchmark indexes in Hong Kong and China recently hit multi-year highs. However, the benchmark indexes pared earlier...
European stocks traded higher on Tuesday, with the STOXX 50 rising 0.5% and the STOXX 600 up 0.3%, rebounding from losses in the previous session as investor focus shifted to corporate earnings. Philips led the gains, jumping around 10% after raising its full-year guidance. Shares of EssilorLuxottica also climbed over 5% after the company reported a rise in first-half operating profit despite facing tariff-related headwinds. Meanwhile, AstraZeneca added 0.6% following its earnings release, and Barclays posted better-than-expected profits and announced a £1 billion share buyback. However,...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.77%. The best performers of the session on the Nikkei 225 were Otsuka Holdings Ltd (TYO:4578), which rose 3.04% or 213.00 points to trade at 7,223.00 at the close. Meanwhile, Recruit Holdings Co Ltd (TYO:6098) added 2.21% or 200.00 points to end at 9,250.00 and Pacific Metals Co., Ltd. (TYO:5541) was up 2.20% or 40.00 points to 1,861.00 in late trade. The worst performers of the session were Lasertec...
Hong Kong shares fell 282 points or 1.1% to 25,277 in early trade Tuesday, pulling back from Monday's gains as all sectors retreated. Investors reacted to weak June trade data in the city, showing the slowest growth in exports and imports in five months on softening global and domestic demand as trade risks mounted. Some traders took profits after the Hang Seng revisited near four-year highs while Wall Street ended mixed overnight. Sentiment was further weighed by caution ahead of key U.S. events this week, including the Fed's rate decision and inflation readings. In China, July PMI data...