Latest news with #EuropeanShares
CNA
3 days ago
- Business
- CNA
European stocks slip, dollar steady as investors assess Israel-Iran truce, eye US data
TOKYO/GDANSK :European shares turned lower and crude oil held not far from multi-week lows on Wednesday, as investors assessed whether a ceasefire between Israel and Iran would hold even as immediate worries about an energy shock receded. The dollar languished close to an almost four-year low versus the euro, with two-year U.S. Treasury yields holding at 1-1/2-month troughs as lower oil prices reduced the risk to bonds from an inflation spike. At a NATO summit on Wednesday, U.S. President Donald Trump basked in the quick end to the war between Iran and Israel, saying he now expected a relationship with Tehran that would preclude rebuilding its nuclear programme despite uncertainty over how much damage was indeed inflicted by U.S. airstrikes. With the shaky truce so far holding, investors turned their focus back to the U.S. economy and monetary policy, after a series of U.S. macroeconomic data overnight showed possibly weaker than expected growth in the world's largest oil consumer, bolstering expectations of Federal Reserve rate cuts this year. Europe's Stoxx 600 index eased 0.3 per cent after opening a touch higher. S&P 500 futures were flat, while Nasdaq futures edged up 0.2 per cent. "I think the Fed is back in focus today after Powell's testimony yesterday, but also because we had de-escalation in the Middle East," said Samy Chaar, chief economist at Lombard Odier. "Now the core focus is what happens to U.S. rates and what happens to U.S. macro." Federal Reserve Chair Jerome Powell said on Tuesday that higher tariffs could begin raising inflation this summer, a period that will be key to the U.S. central bank considering possible rate cuts. Markets continue to price in a roughly 19 per cent chance that the Fed will cut rates by a quarter point in July, according to the CME FedWatch tool. Meanwhile, brent crude rose 0.8 per cent to $67.65 per barrel, paring gains from earlier in the day but still bouncing from a plunge of as much as $14.58 over the previous two sessions. U.S. West Texas Intermediate crude was up by as much to trade at $64.87 per barrel. Prices had rallied to five-month highs after the U.S. bombed Iran's nuclear facilities over the weekend. "While concerns regarding Middle Eastern supply have diminished for now, they have not entirely disappeared, and there remains a stronger demand for immediate supply," analysts at ING wrote in a note to clients. Regardless, the yield on two-year U.S. Treasury was at its lowest since May 8 at 3.7868 per cent on reduced risks from a hike in inflation, while Asian shares closed the session higher. Japan's Nikkei rose 0.4 per cent to its highest closing level in more than four months on Wednesday. Hong Kong's Hang Seng climbed 1.3 per cent and mainland Chinese blue chips gained 1.44 per cent, closing at their highest level since March 20. An MSCI index of global stocks held steady after pushing to a record high overnight. The euro slipped 0.1 per cent to $1.1599, still close to the overnight high of $1.1641, a level not seen since October 2021, while the U.S. dollar index, which measures the currency against six major counterparts, was edging higher at 98.113. Investors were awaiting U.S. government data on domestic crude and fuel stockpiles due on Wednesday. The focus was also on the Commerce Department's final take on first-quarter GDP due on Thursday, as well as Friday's Personal Consumption Expenditures report that will help determine the economic effects of President Donald Trump's tariffs that have unnerved global markets this year.
Zawya
20-06-2025
- Business
- Zawya
European shares rebound as worries of US involvement in Middle East ease
European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks gained the most, up 1.1%, as oil prices eased. Conversely, energy shares were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Reuters
20-06-2025
- Business
- Reuters
European shares rebound as worries of US involvement in Middle East ease
June 20 (Reuters) - European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 (.STOXX), opens new tab was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks (.SXTP), opens new tab gained the most, up 1.1%, as oil prices eased. Conversely, energy shares (.SXEP), opens new tab were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley (BKGH.L), opens new tab was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Irish Times
19-06-2025
- Business
- Irish Times
European shares hit one-month low amid rising Middle East tensions
Escalating tensions in the and fears over potential US involvement in the region led to European shares falling to its lowest point since early May. S&P 500 futures fell 0.5 per cent despite US markets remaining closed on Thursday for a public holiday. DUBLIN The Iseq All-Share index ended the session down 1.96 per cent to 11,172.87, with losses led by Kenmare Resources. READ MORE Kenmare Resources fell 21.12 per cent to €3.66 following news it had walked away from takeover talks with its former managing director Michael Carvill and an Abu Dhabi private equity firm. The consortium made it clear it would only be willing to proceed with a bid that was below its initial £473 million (€553 million) proposal. Shares in the titanium minerals miner returned to near the levels the stock was trading at before news of the bid. Middle East uncertainty saw most Dublin-listed stocks close in the red, with just Irish Ferries owner Irish Continental Group, up 0.37 per cent, and Agriculture group Origin Enterprises, up 0.82 per cent, improving on the day. Gains made on Wednesday by airliner Ryanair on the back of a drop in oil prices were wiped out, and the share 2.63 per cent to €22.97 on Thursday as oil prices rose. In banking stocks, AIB fell 1.91 per cent to €6.70, and Bank of Ireland tumbled 2.40 per cent to €11.61. LONDON The FTSE 100 closed lower on Thursday amid ongoing Middle East concerns, after the Bank of England left interest rates unchanged at 4.25 per cent and policymakers said trade policy uncertainty would continue to hurt the economy, triggering a drop in the pound. The FTSE 100 index closed down 0.6 per cent at 8,791.80, with the mid-cap FTSE 250 ending down 1.0 per cent, at 21,073.99. Oil rose again amid concerns the situation in the Middle East could worsen. That boosted oil majors and FTSE 100 heavyweights BP and Shell, which rose 1.4 per cent and 1.1 per cent respectively. British Airways owner IAG, however, fell 3.2 per cent and low-cost airline EasyJet, was down 3 per cent at close, on concerns of rising fuel costs and travel disruption. Similarly, fears that the Middle East conflict will lead to higher inflation and slower economic growth weighed on mining stocks. Anglo American fell 3.3 per cent, Antofagasta declined 3.4 per cent and Rio Tinto dipped 2.5 per cent. Whitbread fell 1.6 per cent after reporting total group sales fell by 3.8 per cent in its first quarter. On the FTSE 250, Hays plunged 10 per cent after saying it expects annual profit to be below market consensus, as the staffing firm grapples with challenging market conditions. Shares fell in other recruitment businesses, PageGroup, down 8.8 per cent, and Robert Walters, which dropped 4.8 per cent. European recruiting shared similarly fell. EUROPE The pan-European Stoxx 600 closed down for the third consecutive day with a 0.8 per cent drop to its lowest level since May 9. US President Donald Trump kept markets guessing about American involvement in air strikes on Tehran, though markets were hopeful of potential de-escalation of tensions over upcoming EU and US talks with Iran. Much of the recent nervousness has been in markets centred around crude oil supply shocks, triggered by tensions in the oil-rich Middle East. Oil prices rose on the day and boosted the energy sector by 0.8 per cent, emerging as the session's top performer. Healthcare and utilities were the only other sectors in the green. Conversely, travel and leisure stocks led broader declines and finished 2.3 per cent lower, taking a hit from the soaring oil prices. Among stocks, Stora Enso jumped 14.7 per cent to top the Stoxx 600 after the Finnish forestry group said it was initiating a strategic review of its Swedish forest assets. – Additional reporting, Reuters, PA.
Reuters
18-06-2025
- Business
- Reuters
European shares steady ahead of Fed decision; Middle East in focus
June 18 (Reuters) - European shares were subdued on Wednesday ahead of the U.S. Federal Reserve's monetary policy decision, while persisting Middle East tensions also kept investors on edge. The pan-European STOXX 600 index (.STOXX), opens new tab was steady at 541.98 points, as of 0705 GMT. Investors awaited the Fed's monetary policy meeting, where interest rates are widely expected to remain unchanged, while comments from policymakers will be closely monitored to gauge how the U.S. central bank intends to navigate an uncertain trade environment. U.S. President Donald Trump's shifting tariff policy has caused turmoil in financial markets in recent months, with little progress on trade deals as the July 8 pause deadline approaches. Adding to this uncertainty were tensions between Iran and Israel, after they launched new missile strikes at each other despite Trump calling for Tehran's "unconditional surrender". In the regional market, the insurance sector (.SXIP), opens new tab and construction and material (.SXOP), opens new tab stocks led the gains, though overall advances were tempered by declines in heavyweight healthcare shares. Among stocks, Airbus ( opens new tab gained 1.7% after the planemaker raised the upper range of its dividend payout target ahead of a business update. Data showed that British inflation eased as expected in May, but is unlikely to influence the central bank's decision later this week.
