Latest news with #SukritiGupta
Mint
29-07-2025
- Business
- Mint
UK equities mixed as investors assess slew of corporate earnings, US-EU trade deal
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * FTSE 100 up 0.4%, FTSE 250 down 0.3% * AstraZeneca rises after Q2 profit beats expectations * Greggs falls on lower first-half profit * Entain rises after BetMGM raises FY outlook * Inchcape slips on HY profit drop July 29 (Reuters) - London's main stock indexes were mixed on Tuesday as investors assessed a spate of mixed corporate updates as well as the fallout from the newly signed U.S.-EU trade deal. The benchmark FTSE 100 rose 0.4% as of 0934 GMT, while the domestically focused midcap FTSE 250 index was down 0.3%. Healthcare stocks led the sectoral gains, up 1.8%, with AstraZeneca rising 2.8% after the drugmaker beat second-quarter revenue and profit expectations. Chemical stocks lost 2.5%, dragged down by Croda International, which fell 5.1% after the chemical company reported first-half sales below estimates. Industrial miners lost 1%, tracking lower copper prices. Glencore and Anglo American fell 2.4% and 1.2% respectively. Among other corporate updates, Games Workshop surged 6.3%, to top the FTSE 100 index, after the miniature wargames maker reported a nearly 30% jump in annual pre-tax profit. Entain rose 1.4% after the company's U.S. sports-betting joint venture with MGM Resorts called BetMGM raised its full-year 2025 revenue and core earnings forecast. Inchcape lost 9.6%, top loser on the FTSE 250 midcap index, after the car distributor reported a 4% drop in first-half adjusted pre-tax profit at constant currency. Greggs fell 4.9% after reporting a 14% fall in first-half profit. A survey showed British shop prices rose by the most in more than a year in the 12 months to July and food prices grew more strongly. The Bank of England is expected to cut borrowing costs on August 7 for the fifth time since August last year. Meanwhile, investors weighed the impact of a new 15% levy on most European Union goods, which is significantly higher than pre-2025 levels. Ahead of the August 1 tariff deadline, U.S. President Donald Trump said a blanket 15% to 20% "world tariff" rate would be extended toward trading partners who do not negotiate separate trade deals with the U.S. Top U.S. and Chinese economic officials resumed their trade talks for a second day in Stockholm to resolve economic disputes, while seeking to extend the previous tariff truce by three months. (Reporting by Sukriti Gupta in Bengaluru; Editing by Shreya Biswas)
Yahoo
08-07-2025
- Business
- Yahoo
European shares rise on energy, healthcare boost; tariff uncertainty lingers
By Sukriti Gupta, Sanchayaita Roy and Shashwat Chauhan (Reuters) -European shares ended higher on Tuesday, boosted by healthcare and energy shares while investors assessed the latest phase of U.S. President Donald Trump's tariff rollouts, which included a new deadline for trade deals. The pan-European STOXX 600 index ended 0.4% higher, hitting its highest level in three weeks. Other regional indexes also clocked gains, with Germany's DAX and France's CAC 40 up about 0.5% each. German small caps also hit an all-time high on Tuesday, powered by a 20% jump in steelmaker Salzgitter after Germany approved for military use the company's Secure 500 steel product. Heavyweight energy shares advanced 1.1% on higher crude oil prices, and healthcare gained 0.8% with Danish drugmaker Novo Nordisk, one of the biggest weights on the STOXX 600, up 2%. In the latest in the tariff saga, Trump on Monday told 14 nations they would face tariffs ranging from 25% for countries including Japan and South Korea, to 40% for Laos and Myanmar. However, with the start date pushed back to August 1, it effectively created a three-week window for countries to press for better terms, while prolonging damaging uncertainty about the terms of trade. "Trump's decision to push the tariff deadline to August 1 may have temporarily soothed market nerves, but the underlying uncertainty remains," said Lukman Otunuga, senior market analyst at FXTM. "If no meaningful trade deals are reached in the coming weeks, investors could brace for another wave of volatility." For Europe, EU sources familiar with the matter told Reuters on Monday the bloc will not receive a letter from the United States setting out higher tariffs, and is eyeing possible exemptions from the U.S. baseline levy of 10%. Countries have been under pressure to seal deals with the U.S. after Trump launched a global trade war in April, which rattled financial markets and prompted policymakers to scramble to protect their economies. For European equities, the STOXX 600 has rebounded sharply from its April lows and now sits about 3% away from its all-time highs seen in March. On Monday, Swedish investment company Kinnevik climbed to the top of the STOXX 600 with an 8.5% rise after reporting a 2% quarter-to-quarter growth in its second quarter net asset value. The latest earnings forecasts showed the outlook for European corporate health has deteriorated, with companies expected to report a drop of 0.2% year-on-year in second-quarter earnings, on average, according to LSEG I/B/E/S data. The European earnings season will kick into gear next week, with the world's biggest supplier of computer chip-making equipment ASML being the first of the heavyweights to report. 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
Mint
27-06-2025
- Business
- Mint
TSX hits record high as investors assess economic data
(Updates with morning prices) By Twesha Dikshit and Sukriti Gupta June 27 (Reuters) - Canada's main stock index inched up to an all-time high on Friday, but losses in heavyweight mining shares kept gains in check, while investors assessed domestic and U.S. economic data. The S&P/TSX composite index was up 0.1% at 26,790.18 points, surpassing Tuesday's record intraday high of 26,780.19. Healthcare stocks led the sectoral gains with a 1.7% rise. Bausch Health Companies, the parent company of contact lens maker Bausch Lomb, rose 3.1%. On the flip side, mining shares dropped 2.8%, tracking gold that fell to a near one-month low. Gold miners were among the top losers with Lundin Gold falling 7% to the bottom of the main index. Kinross Gold lost 5.7%. Economic data on Friday showed Canada's economy contracted in April on a monthly basis as sectors exposed to tariffs negated a boost from services. The GDP figures are "being driven by weaker exports to the US ... I don't think that's being reflected in the market though," said Philip Petursson, chief investment strategist at IG Wealth Management. "It raises the potential for further interest rate cuts." In the U.S., consumer spending unexpectedly fell in May, while monthly inflation increases remained moderate. Among individual stocks, TC Energy rose 3.3% after the pipeline operator started collecting tolls for the Southeast Gateway natural gas pipeline in Mexico. Miner Wesdome Gold finished its acquisition of Angus Gold. Shares of Wesdome Gold were down 2.9%. (Reporting by Twesha Dikshit and Sukriti Gupta in Bengaluru; Editing by Sahal Muhammed)
Yahoo
10-06-2025
- Business
- Yahoo
Wall Street futures mixed as US-China trade talks grab focus
By Kanchana Chakravarty and Sukriti Gupta (Reuters) -U.S. stock index futures were mixed on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year. U.S. Commerce Secretary Howard Lutnick said trade talks with China were going well as the two sides met for a second day in London. Investors are hoping for an improvement in ties after the relief around a preliminary deal struck last month gave way to fresh doubts when Washington accused Beijing of blocking exports critical to sectors such as aerospace, semiconductors and defense. White House economic adviser Kevin Hassett said on Monday the U.S. was likely to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earths. "The pause in tariff hostilities is a positive starting point as the U.S. seeks the restoration of rare earth mineral exports from China which would inevitably result in a mutual relaxation," Richard Hunter, head of markets at interactive investor, said in a morning note. At 06:42 a.m. ET, Dow E-minis were down 21 points, or 0.05%, S&P 500 E-minis were up 3.75 points, or 0.06%, and Nasdaq 100 E-minis were up 16 points, or 0.07%. U.S. equities rallied sharply in May, with the S&P 500 index and the tech-heavy Nasdaq marking their best monthly gains since November 2023, helped by upbeat earnings reports and a softening of President Donald Trump's harsh trade stance. The S&P 500 remains a little over 2% below all-time highs touched in February, while the Nasdaq is about 3% below its record peaks reached in December. Investors are awaiting U.S. consumer prices data on Wednesday for clues on the Federal Reserve's rate trajectory. While traders largely expect the Fed to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. Traders see at least two 25-basis point cuts by year-end, with a 63% chance of the first cut in September, according to the CME FedWatch tool. Most megacap and growth stocks were mixed in premarket trading. Tesla shares advanced 2.2%. Shares of vaccine makers dipped in premarket trading. Health Secretary Robert F. Kennedy Jr. ousted all 17 members of a U.S. Centers for Disease Control and Prevention panel of vaccine experts and is in the process of replacing them, his department announced on Monday. Shares of vaccine maker Moderna were down 0.4% while Pfizer inched down 0.1%. Recursion Pharmaceuticals advanced 2.5% after the biotech said it will lay off around 20% of its workforce and focus on developing drugs for rare diseases and cancers to reduce cash burn during a prolonged industry downturn.
RNZ News
05-06-2025
- Business
- RNZ News
Tesla stocks plunge 14% on Trump-Musk feud
By Saeed Azhar , Kanchana Chakravarty and Sukriti Gupta , Reuters Tesla dropped more than 14 percent in heavy trading. Photo: Jakub Porzycki/NurPhoto/Getty Images via CNN Newsource Wall Street's stock indexes ended lower on Thursday in choppy trade as a slump in Tesla shares offset news of progress in tariff talks between US President Donald Trump and Chinese leader Xi Jinping. Shares of electric car-maker Tesla dropped more than 14 percent in heavy trading as the public feud between chief executive Elon Musk and Trump intensified. The stock has fallen four out of the last five sessions. The company lost about US$150 billion in value after Trump and Musk began their verbal war. Musk has stepped up criticism of the president's massive tax legislation in recent days, while Trump alleged Musk was upset because the bill takes away tax benefits for electric vehicle purchases. "The fallout for Tesla stock is self-evident," said Mark Spiegel, portfolio manager at Stanphyl Capital. "I see no meaningful fallout from this for the rest of the market, other than its slight effect on the indexes and index funds. The overall stock market has plenty of problems, but Tesla isn't one of them." Investors focused earlier on news that Trump and the Chinese leader had invited each other to their respective countries for visits as shown in US and Chinese summaries of their phone call on Thursday. A recent dispute over critical minerals had threatened to tear up a fragile trade truce between the two biggest economies. "Recent market moves are further indication that with economic policy shifts, and higher geopolitical and headline sensitivity, equity markets will be characterized by greater volatility and velocity than in the previous cycle," said Katherine Bordlemay, co-head of Americas client portfolio management for fundamental equities at GSAM. The Dow Jones Industrial Average fell 108.00 points, or 0.25 percent, to end at 42,319.74. The S&P 500 lost 31.51 points, or 0.53 percent, at 5,939.30 and the Nasdaq Composite dropped 162.04 points, or 0.83 percent, to 19,298.45. Weaker-than-expected U.S. private payrolls and services sector data on Wednesday raised concerns about an economic slowdown caused by trade uncertainties, with investors focusing squarely on Friday's nonfarm payrolls report. Initial jobless claims data on Thursday showed Americans filing new applications for unemployment benefits last week rose for a second straight week. Kansas City Federal Reserve Bank President Jeff Schmid on Thursday expressed concern that tariffs could rekindle inflation, saying upward price pressure could be apparent in coming months but not fully known for much longer. The comments show Schmid is likely inclined to hold the Fed policy rate steady at its June 17-18 meeting as is widely expected, but also beyond that. Despite calls from Trump to slash rates, Fed Chair Jerome Powell has opted to stand pat so far, awaiting further data to guide the policy decision as tariff volatility prevails. US equities rallied sharply in May, with the S&P 500 index and the tech-heavy Nasdaq scoring their biggest monthly percentage gains since November 2023, thanks to a softening of Trump's harsh trade stance and upbeat earnings reports. Brown-Forman fell almost 18 percent after the Jack Daniel's maker forecast a decline in annual revenue and profit. Procter & Gamble said it will cut 7,000 jobs, or about 6 percent of its workforce, over the next two years in a restructuring. Shares of the consumer goods bellwether fell 1.9 percent. Volume on US exchanges was relatively light, with 17.3 billion shares traded, compared to an average of 17.9 billion shares over the previous 20 sessions. Declining issues outnumbered advancers by a 1.11-to-1 ratio on the NYSE. There were 253 new highs and 49 new lows on the NYSE. On the Nasdaq, declining issues outnumbered advancers by a 1.48-to-1 ratio. The S&P 500 posted 16 new 52-week highs and three new lows while the Nasdaq Composite recorded 63 new highs and 42 new lows. - Reuters
