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 Nikkei 225 Index climbed 1.1% to above 43,500 while the broader Topix Index gained 0.7% to 3,127 on Monday, with Japanese shares edging closer to record highs after Prime Minister Shigeru Ishiba announced over the weekend that he will step down. His resignation followed intensifying rifts within the ruling party and weeks of pressure stemming from his national election defeat late last year. The move also came as Japan faced setbacks in securing a trade deal with the US while trying to shield its key auto industry from steep tariffs. At the same time, Japan's second quarter GDP growth...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the region. Japan's benchmark Nikkei 225 rose 0.95% after Japanese Prime Minister Shigeru Ishiba announced his resignation Sunday, following weeks of mounting pressure over his national election defeat late last year. The Topix climbed 0.51%. The Japanese yen weakened 0.64% to 148.33 against the greenback. "Japan is now set for a period of extended uncertainty going into Q4 2025," wrote analysts from BMI, a unit of Fitch Solutions. "Although the...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below Thursday's record close, the Dow dropped 220 points, while the Nasdaq 100 was flat. The economy added just 22K jobs, well below the 75K forecast, while the unemployment rate rose to 4.3%, highlighting a cooling labor market. Traders priced in a higher chance of interest-rate cuts, with bets rising on a potential 50bps reduction this month. Banks,...
European stocks closed on Friday, tracking the pullback in US equities after pessimistic labor data from the US sounded alarms over the world's largest economy. The Eurozone's STOXX 50 dropped 0.6% to 5,330, and the pan-European STOXX 600 fell 0.2% to 549. Nonfarm payrolls in the US were well under market expectations and the unemployment rate, which is under special scrutiny by the Federal Reserve, rose to a near-four-year high. The results backed bets of incoming cuts by the Fed, but such support was offset by concerns of a weakening economy and the pressure on export-oriented sectors in...
US stocks rallied on Friday (September 5th), with the S&P 500 rising 0.4% and the Nasdaq gaining 0.6% to new record highs, while the Dow Jones Industrial Average rose nearly 100 points as a weak jobs report reinforced expectations of a Fed rate cut this year. The US economy added only 22,000 jobs in August, well below the 75,000 expected, while the unemployment rate rose to 4.3%, the highest since 2021 and in line with expectations. The figures point to a cooling labor market and reinforce speculation that the Fed will cut interest rates later this month, with the market now pricing in...