European stocks closed in positive territory on Thursday as investors pored over earnings reports for clues about business activity and confidence in the region. The pan-European Stoxx 600 index closed the session up 0.4%. The UK's FTSE 100 index rose 0.7%, France's CAC 4 gained 0.2%, and Italy's FTSE MIB also posted a 0.4% gain. Germany's DAX index also edged higher, closing up 0.3%. It was a busy day for earnings reports in Europe, with Kering, Roche Holding, Unilever, Vinci, Thales, LSEG, Dassault Systemes, Antofagasta, Swedbank, Nokia, and Lloyds Banking Group among the big names...
Both the STOXX 50 and the STOXX 600 fell 1.5% on Friday, tracking a global equity sell-off as signs of credit stress among US regional banks reignited concerns about credit quality and the potential spillover to other sectors. Banking and financial stocks came under heavy pressure, with notable declines in Intermediate Capital (-6.5%), Banco de Sabadell (-7.1%), Deutsche Bank (-6.3%), Barclays (-5.3%), Standard Chartered (-4.2%) and Société Générale (-4.5%). Meanwhile, escalating trade tensions between China and the US further weighed on sentiment. Beijing accused Washington of stoking...
Japanese stocks fell, led by the financial sector, as investors were shaken by revelations of loan problems at two regional US banks that raised concerns about the credit market. The Topix index fell 1% to 3,170.44 at the close of trading in Tokyo.Of the 1,672 stocks in the index, 446 rose and 1,169 fell, while 57 were unchanged. The Nikkei index fell 1.4% to 47,582.15, poised for its first weekly loss in eight weeks."Rather than focusing on specific sectors, it feels like we're seeing limited risk-off sentiment," said Tetsuo Seshimo, portfolio manager at Saison Asset Management. "Small...
Hong Kong stocks continued to weaken. The Hang Seng Index fell 1.3% to 25,555.02 at 10:14 a.m. local time, widening its weekly loss to 2.8%. Hang Seng Tech also fell 2.3%. The biggest pressure came from large caps: BYD Electronics -5.2%, SMIC -4.3%, Alibaba -2.7%, and Tencent -1.1%. In mainland China, the CSI 300 -1.3% and the Shanghai Composite -0.9%. After rallying more than 30% this year, sentiment has turned cautious. All eyes are on Monday's Chinese data releases: third-quarter GDP, retail sales, and industrial production. Economists' consensus forecasts GDP at ~4.7% (y/y), the slowest...
Asian stocks slipped at the open on Friday after risk sentiment faded on Wall Street, following news of bad debts at two US banks that heightened credit market concerns. US index futures also indicated further weakness. Japan, Australia, and South Korea all fell, in line with Wall Street's overnight slump: the S&P 500 fell 0.6% (financials -2.8%) and the Nasdaq 100 fell 0.4%. Hedging assets rallied: gold and silver hit record highs, while Treasury yields continued to fall—the 2-year yield to its lowest level since 2022 and the 10-year below 4%. The dollar index weakened, heading for its...
The Nikkei Stock Average falls 0.8% to 47885.32 in early trade, tracking Wall Street's declines overnight. The main theme has been risk-off, Commerzbank Research analysts say in a research report. Investors became uneasy about bad loans at two regional banks in the U.S., triggering worries over broader credit stress in the American economy, the analysts add. Among the worst performers on Japan's benchmark index, Disco Corp. drops 3.2%, Chugai Pharmaceutical sheds 3.05%, and Screen Holdings loses 3.1%. USD/JPY is at 150.18, compared with 150.44 late Thursday in New York. Source: Bloomberg