European stocks ended mixed on the last trading day of the year. The pan-European Stoxx 600 index closed a shortened trading session 0.1% lower on Wednesday, with most sector indexes in negative territory. The U.K.'s FTSE 100 ended the day down 0.2%, bringing the index to an annual gain of 21.5% – its strongest yearly gain since 2009. Meanwhile, France's CAC 40 ended New Year's Eve down 0.2%, while Germany's DAX rose 0.6%. Italy's FTSE MIB gained 1.1%, bringing annual gains to 31.5% and its best year since 1998. Markets were open for a half-day of trading on Wednesday, and will be closed...
Asia-Pacific markets opened mixed on Thursday, as all three major Wall Street indexes hit record highs, buoyed by a tech rally and comments from Federal Reserve Chairman Jerome Powell. Investors in Asia will continue to monitor the political situation in South Korea. Less than a day after he declared martial law, lawmakers in the country moved to impeach President Yoon Suk Yeol. South Korea released revised gross domestic product for the third quarter, showing the economy grew 0.1% quarter-on-quarter, and 1.5% year-on-year. The figures matched advanced estimates. Australia's S&P/ASX...
All three major U.S. stock indices closed at record highs on Wednesday. The S&P 500 and Nasdaq advanced by 0.6% and 1.3%, respectively, while the Dow Jones gained 303 points, marking its first-ever close above 45,000. Market sentiment was bolstered by a solid performance in the tech sector and encouraging earnings reports from major companies. Additionally, traders closely followed remarks from Fed Chair Powell. At the DealBook Summit, Powell reiterated that the central bank is not in rush to lower interest rates, emphasizing that the US economy remains solid but continues to face...
European stocks ended higher Wednesday, with the Stoxx 50 up 0.8% and the Stoxx 600 rising 0.4%, as investors monitored political and economic developments. Leading the gains were SAP, which climbed over 4%, and Schneider Electric, up more than 2%. In France, the CAC 40 gained 0.7% as attention turned to a no-confidence vote in the National Assembly. The vote follows Prime Minister Michel Barnier's use of special powers on Monday to push through a controversial budget without parliamentary approval. Both right- and left-wing parties have filed motions of no-confidence, with Barnier's...
The STOXX 50 gained 0.4% and the STOXX 600 edged up 0.2% on Wednesday, marking a third consecutive day of gains and trading at over one-month highs. However, caution persists as traders closely monitor the unfolding political situations in France and South Korea. French lawmakers are set to vote this afternoon on no-confidence motions that will probably topple the government, paving the way for prolonged political uncertainty. Meanwhile, reports indicate that South Korean lawmakers have called for the impeachment of President Yoon Suk Yeol following his controversial declaration of martial...
The Hang Seng ended the session with little move on Wednesday, closing around 19,742 after rising in the previous three sessions. Traders digested private survey data that showed an unexpected slowdown in China's services activity last month, despite a series of support measures since September. In Hong Kong, private sector activity grew for a second straight month, albeit at a slower pace. Market participants were warily watching political developments in South Korea, where a brief declaration of martial law led to opposition calls for the impeachment of President Yoon Suk Yeol. On the...