europeanmarkets
Global stock markets experienced a widespread rebound this week as tensions in the Middle East subsided, alongside robust quarterly earnings from companies. Sentiment appears to be recovering from a three-week sell-off earlier in April, which was triggered by escalating conflict between Israel and Iran, a hawkish stance from the Fed, and a surge in government bond yields. Tech titans soar: Alphabet and Microsoft ride high on AI-driven earnings waveEuropeThe FTSE 100 reached a historic peak, surpassing its previous high in February, with a gain of 2.32%. The Euro Stoxx 600 saw a rise of 0.77%, ...
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Casino said this week it would be making the job cuts to improve its financial situation - and said it would refocus its business on convenience stores instead. Meanwhile, the group said it would consult with unions and other stakeholders on 6 May to unveil plans to safeguard most of the nearly 30,000 people it employs in France. Shares in the retailer are down 96% year-to date but investors responded positively to the update, liftings its stock by about 5%. In a separate statement, Casino said it will also implement a reverse share split of its share capital through the exchange of 100 existi...
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On a big week for banks with numerous lenders posting financial results, BNP Paribas updated investors too on Thursday with its latest first-quarter earnings, which beat analyst estimates. BNP Paribas said net income for Q1 was down 2.% to €3.1 billion. However, it was well ahead of the €2.48 billion that analysts polled by Bloomberg had expected. The bank said this was helped by lower than expected provisions and a decline in expenses. Overall revenue, meanwhile, fell 0.4% to €12.5 billion but topped the €12.2 billion expected by the market. BNP Paribas bids farewell to EgyptBNP Paribas caugh...
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At the time of writing, the FTSE 100 in the UK, which measures the performance of the 100 largest companies traded on the London Stock Exchange, was up 0.32% on the day at 8,049.70 points. Earlier in the trading session it reached 8,075.68 - a fresh record for the blue-chip index. "No sooner had the FTSE 100 hit a new record closing level, the blue-chip index has now scored another goal by achieving a new intraday high at 8,075. This positive showing is exactly what's needed to help repair the reputation of the UK stock market. It's going to be a slow process but every little helps," Russ Moul...
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Reflecting Wall Street’s trajectory, European stock markets declined for the third consecutive week amid prevailing risk-off sentiment. The ongoing conflict in the Middle East and a hawkish stance from the Federal Reserve (Fed) continued to weigh on equity markets, prompting investors to seek haven assets such as gold. This week, soured sentiment may continue dominating the market as leading tech companies from Europe and the US prepare to report quarterly earnings. On the economic front, major global economies will unveil their flash manufacturing and services PMIs for April, providing insigh...
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The political endorsement came Thursday after hours of discussion in Brussels and despite profound disagreements between leaders over proposals to harmonise corporate tax rules and a decades-old plan to integrate the capital markets of EU countries. It comes as the bloc faces an increasingly volatile geopolitical context, rapid demographic changes and stiffer competition from foreign governments that are roping in investments with attractive subsidy packages. The pact is an attempt to retain a competitive edge on the global stage and prevent Europe from becoming an industrial desert at the exp...
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At the time of writing (13:17 CET), Germany's Dax was down 1.39% at 17,778.64 points, France's CAC 40 declined 1.29% to 7,944.92, while the UK's FTSE 100 was also in the red, falling 1.42% to 7,851.74 points. The data reflected a hesitant day of trading across the continent as market participants followed Middle East updates on any potential escalation between Israel and Iran. It comes after Iran unleashed a barrage of 300 aerial drones and missiles toward Israel in a retaliatory move. While Israeli defences, bolstered by support from the US, UK, and European allies, reportedly neutralised 99%...
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Sentiment soured due to a hawkish US Federal Reserve and escalating Middle East conflict, causing a broad sell-off in the global equity markets. The majority of the European benchmark averages ended the week negatively. The oil price surged to a nearly six-month high as Iran vowed retaliation for Israel’s attack, while other safe-haven assets, including precious metals and the US dollar, continued to climb as preferred destinations for safety. This week, market participants will maintain their focus on geopolitical tensions and central banks' rhetoric on monetary policy. Economic indicators su...
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The European stock markets are heading for a negative close for the second consecutive week, as global government bond yields surged further after the US reported hotter-than-expected inflation data. The EU 10-year government bonds yield rose to a one-month high of 2.46%, and its US counterpart, the US 10-year Treasury yield hit 4.58%, the highest since November 2023. The yield on a government bond represents the interest rate at which the government borrows funds, typically reflecting market expectations regarding the central bank's rate trajectory. Consequently, elevated yields often exert d...
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The European stock markets saw a decline for the week following a five-month gain, potentially due to profit-taking amid uncertainty surrounding central bank policies. With crude oil prices climbing to a six-month high amid the ongoing Middle East tension, global inflation may face a risk of re-elevating, which could defer central banks’ decisions on rate cuts. This week, the upcoming ECB policy meeting will provide insights into the bank's policy path and the economic outlook for the Eurozone. Additionally, the US is set to release the March Consumer Price Index (CPI), which will be crucial f...
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