The STOXX 50 went up 0.3% and the STOXX 600 rose 0.2% on Monday, tracking a general positive tone across European equity markets in Asia and the US. Traders were also digesting corporate news and economic data. Shares of AstraZeneca jumped 1.6% after news the drugmaker plans direct listing on the New York Stock Exchange, replacing its current ADR structure. GSK increased 3.6% after appointing a new CEO. Lufthansa added 1.4%. On the other hand, Genmab declined 2.5% after it agreed to buyNasdaq-listed Dutch biotech Merus. On the data front, preliminary figures showed inflation in Spain...
The Hang Seng index rose 216 points, or 0.9%, to close at 25,634 on Monday, extending its gains for a second session. Sentiment was boosted by US index futures, which indicated a rally on Wall Street, as weak employment data reinforced speculation of a Fed rate cut later this month. Investor optimism about the Chinese economy also improved after foreign exchange reserves reached their highest level since December 2015 in August, with the central bank reportedly increasing its gold holdings. However, gains were limited as Chinese trade data showed weak export and import growth, underscoring...
Stocks in Europe started the week in positive territory, with the STOXX 50 up 0.6% and the STOXX 600 advancing 0.3%. Equities continued to benefit from expectations that the Fed will cut interest rates this month, while investors kept a close watch on political developments in France. Prime Minister François Bayrou is widely expected to lose a confidence vote today, a result that would deepen political uncertainty in the country. Meanwhile, the ECB meets this week to set monetary policy. While no change in interest rates is anticipated, traders will scrutinize the meeting for any guidance...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.62% to hit a new all time high. The best performers of the session on the Nikkei 225 were Mazda Motor Corp (TYO:7261), which rose 7.15% or 78.50 points to trade at 1,176.00 at the close. Meanwhile, Resonac Holdings Corp (TYO:4004) added 5.81% or 229.00 points to end at 4,173.00 and IHI Corp. (TYO:7013) was up 5.00% or 755.00 points to 15,855.00 in late trade. The worst performers of the session were Keyence...
Japanese stocks rose after Prime Minister Shigeru Ishiba announced his plans to step down, fueling hopes of new catalysts such as a government spending boost. The Topix index rose 1.1% to 3,138.20—a new record high—with 1,305 stocks advancing, 299 declining, and 72 unchanged. The Nikkei 225 added 1.5% to 43,643.81. Ishiba's resignation follows weeks of pressure following the poor results of the July election. According to TBS, the Liberal Democratic Party is considering a leadership election on October 4. "The market sees this as a sign of movement after post-election stagnation," said...
Hong Kong shares rose 52 points or 0.2% to 25,468 in Monday morning trade, gaining for the second session as U.S. futures inched up after weak U.S. labor data boosted expectations of rate cuts this month. Mainland markets advanced further after weekend data showed China's forex reserves in August hit their highest since December 2015, helped by a weaker dollar, while the central bank continued to build gold holdings. Gains were led by consumer and tech stocks as property and financials lagged. Sentiment was capped by caution ahead of China's August trade data due later today, with markets...