Europe's STOXX 600 closed at a record high on Wednesday, with healthcare stocks leading the way after a U.S.-Pfizer deal reduced uncertainty in the sector, while investors digested the beginning of a U.S. government shutdown. The pan-European STOXX 600 surged 1.2% to log its biggest one-day percentage gain since July 23. Most regional bourses were also trading higher, with London's FTSE 100 at a record high. Healthcare stocks jumped 5.4%, marking their biggest one-day performance since November 2008. On Tuesday, Pfizer agreed to lower prescription drug prices in the U.S. Medicaid programme...
The Nikkei 225 Index rose 0.4% to above 37,600 on Tuesday, snapping a two-day decline and taking cues from a positive lead on Wall Street despite investor concerns over rising global trade tensions. US President Donald Trump's recent announcement to double tariffs on steel imports to 50% drew criticism from key trading partners and raised concerns about potential ripple effects on Japan's steel industry. Meanwhile, China rejected Trump's claims that it had breached a temporary trade agreement, adding uncertainty to the outlook for future negotiations. With no major domestic economic data...
The S&P 500 index closed higher on Monday as investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump's latest salvo to double tariffs on imported steel and aluminum. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday, just hours after he accused China of violating an agreement. China said on Monday that U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless" and...
US stocks rose on Monday, starting June with gains despite rising global trade tensions. The S&P 500 rose 0.4% and the Nasdaq gained 0.7%, while the Dow gained 35 points. Tensions between the US and China have flared again after Beijing dismissed US accusations of violating a tariff truce, instead blaming Washington. Markets are eyeing a possible phone call this week between President Trump and Chinese President Xi, which could prove crucial for trade clarity. Meanwhile, Trump's plan to double tariffs on steel and aluminum to 50% has rattled the EU, which has warned that the move would...
European stock markets ended the first trading day of the week lower. The Stoxx Europe 600 index was down 0.1%, France's CAC 40 was lower by 0.2%, and Germany's DAX was off by 0.3%. The U.K.'s FTSE 100 closed marginally in the black, with a 0.02% gain. President Donald Trump's move to double tariffs on steel and aluminum imports to 50% is likely to bite wind energy developer Orsted, according to analysts. The Danish multinational booked a loss of 1.2 billion Danish kroner ($183 million) in its first-quarter results in May after the U.S. imposed 25% tariffs on imports of steel and...
The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased. The 30-stock average lost 181 points, or 0.4%. The S&P 500 also pulled back 0.2%, while the Nasdaq Composite gained 0.2%. China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Tensions reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice...