Latest news with #CMCMarkets
Business Recorder
2 days ago
- Business
- Business Recorder
European shares end May higher as trade uncertainty persists
FRANKFURT: European shares closed higher on Friday, rounding off the month with gains in a still uncertain trade environment as investors assessed the latest developments in US President Donald Trump's tariff plan. The continent-wide STOXX 600 index ended 0.1%higher, brushing off a temporary reinstatement of the most sweeping Trump's tariffs on Thursday, a day after another court ordered an immediate block on them. However, the benchmark index pared most gains after Trump said on Friday that China had violated an agreement on tariffs and issued a new threat to get tougher with Beijing, without revealing details. 'It is a whole different situation that we are going to be in... it's longer and slower and more complicated,' said Jochen Stanzl, chief market analyst at CMC Markets, pointing to the developments on the tariff front. The index still posted its first monthly advance in three, rising about 4%, while also ending the week higher, as investors capitalised on Trump's decision to postpone tariffs on the EU, opening the door for Brussels to produce a trade deal with Washington and recent US fiscal concerns that sent investors flocking to assets outside the US On the day, most sectors were higher, with utilities and healthcare shares up 0.8% each Construction and materials stocks were at the bottom, down 1%. 'This is very much driven by momentum and some fear of missing out... investors over the past few months have been trained to buy the dip to some extent,' said Stanzl. Europe's aerospace and defence index was the top winning sector for the month, up about 14%, as dimming hopes of a truce between Russia and Ukraine persuaded investors to buy ammunition stocks. Germany's DAX 40 ended 0.3% higher. Data showed German inflation eased further in May, bringing it closer to the European Central Bank's 2% target and bolstering the case for an interest rate cut next week. Another dataset showed German retail sales fell by 1.1% in April compared with the previous month. M&G gained 5.5% after it said Japanese life insurer Dai-Ichi Life Holdings will take a 15% stake in the British insurer and asset manager as part of a strategic deal.
Business Times
2 days ago
- Business
- Business Times
Europe: Shares end May higher as trade uncertainty persists
EUROPEAN shares closed higher on Friday (May 30), rounding off the month with gains in a still uncertain trade environment as investors assessed the latest developments in US President Donald Trump's tariff plan. The continent-wide Stoxx 600 index ended 0.1 per cent higher, brushing off a temporary reinstatement of the most sweeping Trump's tariffs on Thursday, a day after another court ordered an immediate block on them. However, the benchmark index pared most gains after Trump said on Friday that China had violated an agreement on tariffs and issued a new threat to get tougher with Beijing, without revealing details. 'It is a whole different situation that we are going to be in... it's longer and slower and more complicated,' said Jochen Stanzl, chief market analyst at CMC Markets, pointing to the developments on the tariff front. The index still posted its first monthly advance in three, rising about 4 per cent, while also ending the week higher, as investors capitalised on Trump's decision to postpone tariffs on the EU, opening the door for Brussels to produce a trade deal with Washington and recent US fiscal concerns that sent investors flocking to assets outside the US. On the day, most sectors were higher, with utilities and healthcare shares up 0.8 per cent each. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Construction and materials stocks were at the bottom, down 1 per cent. 'This is very much driven by momentum and some fear of missing out... investors over the past few months have been trained to buy the dip to some extent,' said Stanzl. Europe's aerospace and defence index was the top winning sector for the month, up about 14 per cent, as dimming hopes of a truce between Russia and Ukraine persuaded investors to buy ammunition stocks. Germany's Dax 40 ended 0.3 per cent higher. Data showed German inflation eased further in May, bringing it closer to the European Central Bank's 2 per cent target and bolstering the case for an interest rate cut next week. Another dataset showed German retail sales fell by 1.1 per cent in April compared with the previous month. M&G gained 5.5 per cent after it said Japanese life insurer Dai-Ichi Life Holdings will take a 15 per cent stake in the British insurer and asset manager as part of a strategic deal. French pharmaceutical company Sanofi fell 4.8 per cent to a more than one-year low after its experimental drug Itepekimab failed to meet certain conditions. Carrefour fell 6 per cent to the bottom of the Stoxx 600 as the French food retailer traded without entitlement to its latest dividend payout on Friday. REUTERS
NZ Herald
6 days ago
- Business
- NZ Herald
European markets rally as Trump delays 50% EU tariffs
On Monday the Paris CAC 40 index closed 1.2% higher while the Frankfurt gained 1.7%. London and Wall Street were closed for holidays, but US futures were higher while Asia struggled. Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the President's volatile policy pivots. 'The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US President,' said Jochen Stanzl, chief market analyst at CMC Markets trading platform. 'This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern', which is increasingly seen as a successful strategy for risk-tolerant investors.' The dollar remained under pressure after dropping on Friday. Oil prices fluctuated and ended flat, with producers' group Opec-plus expected this week to continue to raise production despite low prices, after pressure from Trump. Steel saga Investors have also fretted over Trump's economic policies, with US long-term government bond yields surging last week over concerns that his tax relief and spending cuts plan – which was approved by the House – will increase the US debt pile. Traders are also looking to Wednesday's release of minutes from the Fed's earlier May policy meeting, hoping for an idea about the central bank's views on the economy. That is followed by the Fed's preferred measure of inflation – US personal consumption expenditures – on Friday. In company news, shares in Seoul-listed Samsung rose almost 1% despite Trump's threat of tariffs on smartphone makers. In Tokyo, Nippon Steel rallied as much as 7.4% after Trump threw his support behind a new 'partnership' between the Japanese firm and US Steel. It ended up 2.1%. US Steel soared 21% in New York on Friday. In Europe, shares in steel giant ThyssenKrupp surged 8.7% after the firm said it planned a major overhaul that will split the vast conglomerate into several standalone businesses. Swedish carmaker Volvo rose more than 2% after it announced it would cut 3000 jobs as part of a $1.9 billion cost-cutting plan. Key figures Paris – CAC 40: UP 1.2% at 7828.13 points Frankfurt – DAX: UP 1.7% at 24,027.65 Tokyo – Nikkei 225: UP 1.0% at 37,531.53 (close) Hong Kong – Hang Seng Index: DOWN 1.4% at 23,282.33 (close) Advertisement Advertise with NZME. Shanghai – Composite: DOWN 0.1% at 3,346.84 (close) Euro/dollar: UP at $1.1382 from $1.1369 on Friday Pound/dollar: UP at $1.3563 from $1.3535 Dollar/yen: UP at 142.81 yen from 142.57 yen Euro/pound: DOWN at 83.91 pence from 83.96 pence West Texas Intermediate: UP 0.1% at US$61.62 per barrel Brent North Sea Crude: UP 0.1% at US$64.88 per barrel New York – Dow: Closed for a holiday London – FTSE 100: Closed for a holiday -Agence France-Presse
Yahoo
6 days ago
- Business
- Yahoo
Trump tariff postponement brings DAX back above 24,000 points
Germany's DAX index recovered significantly on Monday from last week's US tariff shock. The rise follows US President Donald Trump decision to postpone the imposition of new tariffs on EU imports from the beginning of June until until July 9. "The big showdown has been postponed," said portfolio manager Thomas Altmann from asset manager QC Partners. "And that's enough for the stock markets to breathe a sigh of relief." The German benchmark index jumped back above the 24,000-point mark right at the start of trading on Monday. This made up for Friday's setback and the index closed just over 100 points below its record high of 24,152 points reached in the middle of last week. At the close of trading, the DAX was up 1.68% at 24,027.65 points. The MDAX, which tracks medium-sized companies, rose 1.66% to 30,390.05 points. The British and US stock markets remained closed on Monday due to public holidays, making for less market activity. "The stock market, dancing to Trump's tune, is following a now familiar pattern: first a threat, then a setback, immediately followed by a rapid re-entry of speculative investors in anticipation of the US president backing down," wrote analyst Jochen Stanzl of broker CMC Markets. "This expectation has now been confirmed once again." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Age
6 days ago
- Business
- The Age
ASX set to advance, global stocks rise on Trump's tariff delay
European stocks climbed along with US equity futures after President Donald Trump extended a deadline on aggressive euro area tariffs, reinforcing a pattern of leaving markets guessing by making trade threats before backtracking. The Stoxx Europe 600 index erased Friday's losses sparked by Trump's threat of 50 per cent tariffs on the European Union. The US President later said he had agreed to delay the date for the levies to July 9 from June 1. Germany's DAX added 1.7 per cent to 24,020.48 and the CAC 40 in Paris was 1.3 per cent higher to 7,830.99. Markets were closed in Britain for a bank holiday. Wall Street was closed for the Memorial Day holiday but futures for the S&P 500 and the Nasdaq 100 advanced more than 1 per cent. A gauge of the US dollar hovered near its lowest level in almost two years. The Australian sharemarket is set to rise, with futures at 4.57am AEST pointing to a gain of 19 points, or 0.2 per cent, at the open. The ASX edged up by 0.1 per cent on Monday. The Australian dollar dipped overnight after hitting six-month highs on Monday. It was 0.1 per cent lower to 64.83 US cents at 5.11am AEST. The tariff war has returned as the major driver once again after concerns about Trump's proposed tax cuts, and their impact on the US deficit, churned markets much of last week. Trump's whiplash moves have increased uncertainty in markets and his broadside against Europe on Friday, followed by a backtrack, was a stark reminder of the president's volatile policy making. Loading 'The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US President,' said Jochen Stanzl, chief market analyst at CMC Markets. 'This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern,' which is increasingly seen as a successful strategy for risk-tolerant investors.' Trump's decision to extend the deadline came after a phone call with European Commission President Ursula von der Leyen.
