
European shares hit two-week high as investors gauge earnings, economic data
The pan-European STOXX 600 index rose 0.2%, as of 0710 GMT, while the UK's blue-chip FTSE 100 fell 0.2%.
Britain's economy grew by a faster-than-expected 0.3% in the second quarter, official figures showed. Economists polled by Reuters, as well as the Bank of England, had forecast a 0.1% growth for the April-June period.
Global stocks have rallied recently, driven by firming bets of a U.S. interest rate cut next month, leading to record highs on Wall Street.
Among individual stocks, Embracer slumped 24.1% and was the top laggard on the STOXX 600 index after the gaming company's first-quarter operating profit missed estimates.
Carlsberg fell 4.8% after the Danish brewer missed half-year profit and volume forecasts, and said it did not expect any improvement in the consumer environment for the remaining year.
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Express Tribune
14 minutes ago
- Express Tribune
Trump says Putin ready to make deal on Ukraine
Trump said a second meeting with Putin and Zelensky would address boundary issues, but Zelensky refuses to cede land. PHOTO: FILE US President Donald Trump said on Thursday he thought Vladimir Putin was ready to make a deal on ending his war in Ukraine after the Russian president floated the prospect of a nuclear arms agreement on the eve of their summit in Alaska. Ukrainian President Volodymyr Zelenskiy and his European allies have intensified their efforts this week to prevent any deal between the US and Russia emerging from Friday's summit that leaves Ukraine vulnerable to future attack. "I think he's going to make a deal," Trump said in a Fox News radio interview, adding that if the meeting went well, he would call Zelenskiy and European leaders afterwards, and that if it went badly, he would not. The aim of Friday's talks with Putin is to set up a second meeting including Ukraine, Trump said, adding: "I don't know that we're going to get an immediate ceasefire." Putin earlier spoke to his most senior ministers and security officials as he prepared for a meeting with Trump in Anchorage, Alaska, on Friday that could shape the endgame to the largest war in Europe since World War Two. In televised comments, Putin said the US was "making, in my opinion, quite energetic and sincere efforts to stop the hostilities, stop the crisis and reach agreements that are of interest to all parties involved in this conflict." This was happening, Putin said, "in order to create long-term conditions for peace between our countries, and in Europe, and in the world as a whole - if, by the next stages, we reach agreements in the area of control over strategic offensive weapons." His comments signalled that Russia will raise nuclear arms control as part of a wide-ranging discussion on security when he sits down with Trump. A Kremlin aide said Putin and Trump would also discuss the "huge untapped potential" for Russia-US economic ties. A senior Eastern European official, who requested anonymity to discuss sensitive matters, said Putin would try to distract Trump from Ukraine at the talks by offering him possible progress on nuclear arms control or something business-related. "We hope Trump won't be fooled by the Russians; he understands all (these) dangerous things," the official said, adding that Russia's only goal was to avoid any new sanctions and have existing sanctions lifted. Trump said there would be a press conference after the talks, but that he did not know whether it would be joint. He also said there would be "a give and take" on boundaries and land.


Express Tribune
14 minutes ago
- Express Tribune
India and China work to improve ties amid Trump's unpredictability
China's Foreign Minister Wang Yi attends a meeting of foreign ministers of the BRICS group of nations in the city of Nizhny Novgorod, Russia June 10, 2024. PHOTO:REUTERS From talks on resuming direct flights to a series of high-level bilateral visits, longtime rivals China and India are quietly and cautiously strengthening ties against the backdrop of US President Donald Trump's unpredictable approach to both. Chinese Foreign Minister Wang Yi is scheduled to visit New Delhi next week for talks with India's National Security Adviser Ajit Doval on their disputed Himalayan border, the second such meeting since a deadly clash in 2020 between Indian and Chinese troops, two people familiar with the matter said. Indian Prime Minister Narendra Modi is set to meet Chinese President Xi Jinping at the end of the month when he travels to China — his first visit in seven years — to attend the summit of the Shanghai Cooperation Organisation, a regional security bloc. The engagements follow a thaw in India and China's five-year standoff after an agreement last October on patrolling their Himalayan border, which eased the strain on bilateral ties that had hurt trade, investment and air travel. Relations were further boosted in recent weeks amid new tensions in India-US ties after decades of progress, analysts said, as Trump imposed a 50% tariff on Indian exports to the United States - one of the highest levels among Washington's strategic partners. The United States and China, meanwhile, this week extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods. China and India have already agreed to resume direct flights suspended since 2020 and are discussing easing trade barriers, including reopening border trade at three Himalayan crossings.


Express Tribune
44 minutes ago
- Express Tribune
Israel unveils new West Bank settlement plan
Photo: Israeli Finance Minister Bezalel Smotrich attends an inauguration event for Israel's new light rail line for the Tel Aviv metropolitan area, in Petah Tikva, Israel, August 17, 2023/Reuters Israeli far-right Finance Minister Bezalel Smotrich announced that work would start on a long-delayed settlement that would divide the West Bank and cut it off from East Jerusalem, a move his office said would "bury" the idea of a Palestinian state. The Palestinian government, allies and campaign groups condemned the scheme, calling it illegal and saying the fragmentation of territory would rip up peace plans for the region. Standing at the site of the planned settlement in Maale Adumim on Thursday, Smotrich, a settler himself, said Prime Minister Benjamin Netanyahu and US President Donald Trump had agreed to the revival of the E1 development, though there was no immediate confirmation from either. "Whoever in the world is trying to recognise a Palestinian state today will receive our answer on the ground. Not with documents nor with decisions or statements, but with facts. Facts of houses, facts of neighbourhoods," Smotrich said. Asked about his remarks, a US State Department spokesperson said: "A stable West Bank keeps Israel secure and is in line with this administration's goal to achieve peace in the region," and referred reporters to Israel's government for further information. The spokesperson said Washington remained primarily focused on ending the war in Gaza. The United Nations urged Israel to reverse its decision to start work on the settlement. "It would put an end to prospects of a two-state solution," UN spokesperson Stephane Dujarric told reporters. "Settlements go against international law (and) further entrench the occupation." Israel froze construction plans at Maale Adumim in 2012, and again after they were revived in 2020, amid objections from the US, European allies and other powers who considered the project a threat to any future peace deal with the Palestinians. Restarting the project could further isolate Israel, which has watched some of its Western allies condemn its military offensive in Gaza and announce they may recognise a Palestinian state. Palestinians fear the settlement building in the West Bank - which has sharply intensified - will rob them of any chance to build a state of their own in the area. In a statement headlined "Burying the idea of a Palestinian state," Smotrich's spokesperson said the minister had approved the plan to build 3,401 houses for Israeli settlers between an existing settlement in the West Bank and Jerusalem. Nabil Abu Rudeineh, the Palestinian president's spokesperson, called on the United States to pressure Israel to stop settlement building. "The EU rejects any territorial change that is not part of a political agreement between involved parties. So annexation of territory is illegal under international law," European Commission spokesperson Anitta Hipper said. Palestinians were already demoralised by the Israeli military campaign which has killed more than 61,000 people in Gaza, according to local health authorities, and fear Israel will ultimately push them out of that territory. About 700,000 Israeli settlers live among 2.7 million Palestinians in the West Bank and East Jerusalem. Israel annexed East Jerusalem in 1980, a move not recognised by most countries, but has not formally extended sovereignty over the West Bank.