Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate results. Siemens shares plunged 9.1% after the company released a disappointing profit forecast for next year. 3i Group plunged 17.2% after warning of more cautious projections, and Deutsche Telekom reversed early gains and closed the session slightly in the red, even after again raising its 2025 forecast. Meanwhile, Merck jumped 4.9% after reporting operating profit that beat market...
US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P 500 and Nasdaq each rose 0.5%, while the Dow Jones Industrial Average rose 239 points. Trump said his proposed 100% tariffs on Chinese goods would be unsustainable, although he blamed Beijing for recent trade tensions, and confirmed that his meeting with Chinese President Xi Jinping was still possible at the end of the month. Consumer staples,...
European stock markets pared losses on Friday, with the STOXX 50 and STOXX 600 closing down 0.8% and 0.9%, respectively, after plummeting as much as 1.9% earlier in the session. Investor sentiment improved following President Trump's statement that high tariffs on Chinese goods were unlikely to last long, signaling a potential easing of US-China trade tensions ahead of his meeting with Chinese President Xi Jinping. However, banking stocks remained under pressure, led by Deutsche Bank (-5.9%), Societe Generale (-4.6%), BNP Paribas (-3.7%), Banco Santander (-3.2%), and UniCredit (-2.6%), as...
The three major US stock indexes fluctuated between small gains and losses on Friday in what could be another volatile session. Consumer staples and energy stocks led the gains, while communication services was the weakest-performing sector. Quarterly results from regional banks helped lift sentiment, with Truist Financial rising 2.4%, and Fifth Third Bancorp climbing 3%. Earlier, futures had tumbled as signs of credit stress among regional lenders reignited concerns over US credit quality. Zions Bancorporation and Western Alliance, at the center of the recent turmoil, rebounded 3.6% and...
The Hang Seng tumbled 641 points, or 2.5%, to close at 25,247 on Friday, extending losses from the prior session and marking its lowest level in six weeks amid broad-based declines. Global sentiment soured after signs of credit stress at U.S. regional banks rattled investors, while renewed trade frictions between Washington and Beijing added pressure. All sectors fell, with tech sliding around 4%, followed by consumer, financial, and property stocks. Khoon Group hit a record low after certain sanctions by government authorities in the U.S. BYD lost 4.3% following its largest vehicle recall...
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...