- Arjun Pandit
- 05 May, 2025
- Select
India Indexes and Stocks
Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.
Kotak Mahindra declined 5.5% to ₹2,070.50, and the financial services provider
- Arjun Pandit
- 05 May, 2025
- Select
India Indexes and Stocks
Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.
Kotak Mahindra decl
- Arjun Pandit
- 05 May, 2025
- Select
India Indexes and Stocks
Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.
Kotak Mahindra declined 5.5% to ₹2,070.50, and the financial services
- Barry Adams
- 02 May, 2025
- New York City
Wall Street indexes advanced in Friday's trading, and broader indexes are set to gain after a week of choppy trading.
The S&P 500 index advanced 1.1%, and the Nasdaq Composite gained 1.8%, and investors reacted to a flood of earnings and the latest update on nonfarm payrolls.
Apple Inc., Amazon, Airbnb, Exxon Mobil, and Chevron were in focus after they reported quarterly results.
This week, investors reviewed a flood of earnings, including updates from leading tech companies Microsoft and Meta Platforms on Thursday.
Investors reacted positively to the increase in payrolls in April, but the gain slowed sharply from the downwardly revised March data.
U.S. Job Growth Slowed Down In April Amid Tariff Uncertainty
The U.S. economy added 177,000 net new jobs in April, lower than the downwardly revised 185,000 in March, the U.S. Bureau of Labor Statistics reported Friday.
Employment in the healthcare sector increased by 52,000 jobs, in the transportation and warehousing by 29,000, in the financial activities increased by 14,000, and in the social assistance by 8,000.
The gains were ahead of market expectations because the two surveys that collect information were conducted in the second week in April, and the full impact of the country-specific tariff campaign may not be reflected in the data.
The jobless rate in April was unchanged at 4.2%, and the average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or monthly 2% or annual 3.8%, to $36.06.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.9% to 5,653.70, the Nasdaq Composite edged up 0.7% to 17,836.78, and the Russell 2000 index was up 1.5% to 2,005.89.
The yield on 2-year Treasury notes edged higher to 3.79%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.78%.
WTI crude oil decreased $0.20 to $59.03 a barrel, and natural gas prices edged higher by $0.08 to $3.56 a thermal unit.
Gold increased by $8.07 to $3,245.55 an ounce, and silver edged down by $0.06 to $32.38.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.40 to 99.84, and it traded at the lowest level since April 2022.
U.S. Stock Movers
Apple Inc. declined 2.8% to $207.29, despite the technology company reporting strong quarterly results.
The popular iPhone maker reported a slight decline in its sales in China and estimated that the tariff-related costs in the year are likely to be $900 million.
Amazon.com Inc. increased 1.2% to $192.55, and the online marketplace operator reported strong quarterly results, and the company's annual outlook was tempered by tariffs' impact.
Airbnb Inc. decreased 2.8% to $120.50, and the short-term rental company issued a disappointing revenue outlook for the second quarter.
Exxon Mobil increased 1.5% to $107.34, and the energy company
Revenue in the first quarter was flat at $81.1 billion, net income decreased to $7.7 billion from $8.2 billion, and diluted earnings per share eased to $1.76 from $2.06 a year ago, respectively.
- Barry Adams
- 02 May, 2025
- New York City
Wall Street indexes advanced in Friday's trading, and broader indexes are set to gain after a week of choppy trading.
The S&P 500 index advanced 1.1%, and the Nasdaq Composite gained 1.8%, and investors reacted to a flood of earnings and the latest update on nonfarm payrolls.
Apple Inc., Amazon, Airbnb, Exxon Mobil, and Chevron were in focus after they reported quarterly results.
This week, investors reviewed a flood of earnings, including updates from leading tech companies Microsoft and Meta Platforms on Thursday.
Investors reacted positively to the increase in payrolls in April, but the gain slowed sharply from the downwardly revised March data.
U.S. Job Growth Slowed Down In April Amid Tariff Uncertainty
The U.S. economy added 177,000 net new jobs in April, lower than the downwardly revised 185,000 in March, the U.S. Bureau of Labor Statistics reported Friday.
Employment in the healthcare sector increased by 52,000 jobs, in the transportation and warehousing by 29,000, in the financial activities increased by 14,000, and in the social assistance by 8,000.
The gains were ahead of market expectations because the two surveys that collect information were conducted in the second week in April, and the full impact of the country-specific tariff campaign may not be reflected in the data.
The jobless rate in April was unchanged at 4.2%, and the average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or monthly 2% or annual 3.8%, to $36.06.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.9% to 5,653.70, the Nasdaq Composite edged up 0.7% to 17,836.78, and the Russell 2000 index was up 1.5% to 2,005.89.
The yield on 2-year Treasury notes edged higher to 3.79%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.78%.
WTI crude oil decreased $0.20 to $59.03 a barrel, and natural gas prices edged higher by $0.08 to $3.56 a thermal unit.
Gold increased by $8.07 to $3,245.55 an ounce, and silver edged down by $0.06 to $32.38.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.40 to 99.84, and it traded at the lowest level since April 2022.
U.S. Stock Movers
Apple Inc. declined 2.8% to $207.29, despite the technology company reporting strong quarterly results.
The popular iPhone maker reported a slight decline in its sales in China and estimated that the tariff-related costs in the year are likely to be $900 million.
Amazon.com Inc. increased 1.2% to $192.55, and the online marketplace operator reported strong quarterly results, and the company's annual outlook was tempered by tariffs' impact.
Airbnb Inc. decreased 2.8% to $120.50, and the short-term rental company issued a disappointing revenue outlook for the second quarter.
Exxon Mobil increased 1.5% to $107.34, and the energy company
Revenue in the first quarter was flat at $81.1 billion, net income decreased to $7.7 billion from $8.2 billion, and diluted earnings per share eased to $1.76 from $2.06 a year ago, respectively.
- Scott Peters
- 02 May, 2025
- New York City
Apple Inc. declined 3.8% to $205.25 despite the smartphone maker reporting higher sales and earnings in the second quarter.
Sales jumped to $95.36 billion from $90.75 billion, net income climbed to $24.78 billion from $23.64 billion, and diluted earnings per share rose to $1.65 from $1.53 a year ago.
Sales increased in all geographic regions except in Greater China, where sales eased to $16.0 billion from $16.37 billion a year earlier.
All product categories registered higher sales except for wearables, home, and accessories, where sales declined to $7.52 billion from $7.91 billion a year ago.
The company proposed a cash dividend of 26 cents per share, an increase of 4%, payable on May 15 to shareholders on record as of May 12.
Amazon.com Inc. declined 3.2% to $184.10 after the e-commerce retailer reported first-quarter 2025 results.
Net sales edged up to $155.67 billion from $143.31 billion, net income surged to $17.13 billion from $10.43 billion, and diluted earnings per share rose to $1.59 from 98 cents a year ago.
Free cash flow decreased to $25.9 billion for the trailing twelve months, compared with $50.1 billion for the trailing twelve months ended March 31, 2024.
“We launched Amazon.ie in Ireland, offering over 200 million products with low prices, fast delivery, and local prime membership,” the company said in a release to investors.
Amazon guided second-quarter net sales to grow between 7% and 11% to between $159.0 billion and $164.0 billion from $148.0 billion a year ago, and operating income to be between $13.0 billion and $17.5 billion, compared to $14.7 billion in the same quarter in 2024.
McDonald’s Corp. dropped 0.2% to $313.01 after the fast-food restaurant chain reported first-quarter 2025 results.
Revenue declined to $5.96 billion from $6.17 billion, net income edged down to $1.87 billion from $1.93 billion, and diluted earnings per share fell to $2.60 from $2.66 a year ago.
Global comparable sales decreased 1%, impacted by the 3.6% lower comparable sales in the U.S.
MasterCard Inc. eased 0.04% to $546.40 after the digital payment company reported first-quarter 2025 results.
Revenue edged up to $7.25 billion from $6.35 billion, net income jumped to $3.28 billion from $3.01 billion, and diluted earnings per share rose to $3.59 from $3.22 a year ago.
During the first quarter, the company repurchased 4.7 million shares for a total of $2.5 billion and paid $694 million in dividends.
Quarter-to-date through April 28, the company repurchased 1.7 million shares at a cost of $884 million, which leaves $11.8 billion under repurchase authorization.
Thomson Reuters Corp. traded flat at $185.74 after the content-driven technology company reported first-quarter 2025 results.
Revenue jumped to $1.90 billion from $1.88 billion, net income fell to $434 million from $481 million, and diluted earnings per share dropped to 96 cents from $1.06 a year ago.
The company completed the acquisition of SafeSend in January for approximately $600 million, allowing it to expand its tax automation capabilities.
In February, the company raised its annual dividend by 10% to $2.38 per share.
Thomson Reuters guided second-quarter revenue to grow by 7%, compared to $1.74 billion in 2024, and the adjusted EBITDA margin to be approximately 36%, compared to 37.1% a year ago.
The company estimated full-year revenue to increase between 3% and 3.5%, compared to $7.26 billion in 2024.
Revenue for the “Big 3” segments, namely legal professionals, corporates, and tax and accounting professionals, is expected to grow by approximately 4% in 2025.
- Scott Peters
- 02 May, 2025
- New York City
Apple Inc. declined 3.8% to $205.25 despite the smartphone maker reporting higher sales and earnings in the second quarter.
Sales jumped to $95.36 billion from $90.75 billion, net income climbed to $24.78 billion from $23.64 billion, and diluted earnings per share rose to $1.65 from $1.53 a year ago.
Sales increased in all geographic regions except in Greater China, where sales eased to $16.0 billion from $16.37 billion a year earlier.
All product categories registered higher sales except for wearables, home, and accessories, where sales declined to $7.52 billion from $7.91 billion a year ago.
The company proposed a cash dividend of 26 cents per share, an increase of 4%, payable on May 15 to shareholders on record as of May 12.
Amazon.com Inc. declined 3.2% to $184.10 after the e-commerce retailer reported first-quarter 2025 results.
Net sales edged up to $155.67 billion from $143.31 billion, net income surged to $17.13 billion from $10.43 billion, and diluted earnings per share rose to $1.59 from 98 cents a year ago.
Free cash flow decreased to $25.9 billion for the trailing twelve months, compared with $50.1 billion for the trailing twelve months ended March 31, 2024.
“We launched Amazon.ie in Ireland, offering over 200 million products with low prices, fast delivery, and local prime membership,” the company said in a release to investors.
Amazon guided second-quarter net sales to grow between 7% and 11% to between $159.0 billion and $164.0 billion from $148.0 billion a year ago, and operating income to be between $13.0 billion and $17.5 billion, compared to $14.7 billion in the same quarter in 2024.
McDonald’s Corp. dropped 0.2% to $313.01 after the fast-food restaurant chain reported first-quarter 2025 results.
Revenue declined to $5.96 billion from $6.17 billion, net income edged down to $1.87 billion from $1.93 billion, and diluted earnings per share fell to $2.60 from $2.66 a year ago.
Global comparable sales decreased 1%, impacted by the 3.6% lower comparable sales in the U.S.
MasterCard Inc. eased 0.04% to $546.40 after the digital payment company reported first-quarter 2025 results.
Revenue edged up to $7.25 billion from $6.35 billion, net income jumped to $3.28 billion from $3.01 billion, and diluted earnings per share rose to $3.59 from $3.22 a year ago.
During the first quarter, the company repurchased 4.7 million shares for a total of $2.5 billion and paid $694 million in dividends.
Quarter-to-date through April 28, the company repurchased 1.7 million shares at a cost of $884 million, which leaves $11.8 billion under repurchase authorization.
Thomson Reuters Corp. traded flat at $185.74 after the content-driven technology company reported first-quarter 2025 results.
Revenue jumped to $1.90 billion from $1.88 billion, net income fell to $434 million from $481 million, and diluted earnings per share dropped to 96 cents from $1.06 a year ago.
The company completed the acquisition of SafeSend in January for approximately $600 million, allowing it to expand its tax automation capabilities.
In February, the company raised its annual dividend by 10% to $2.38 per share.
Thomson Reuters guided second-quarter revenue to grow by 7%, compared to $1.74 billion in 2024, and the adjusted EBITDA margin to be approximately 36%, compared to 37.1% a year ago.
The company estimated full-year revenue to increase between 3% and 3.5%, compared to $7.26 billion in 2024.
Revenue for the “Big 3” segments, namely legal professionals, corporates, and tax and accounting professionals, is expected to grow by approximately 4% in 2025.
- Inga Muller
- 02 May, 2025
- Frankfurt
Stellantis plunged 1.9% to €8.14 after the parent company of Fiat reported first-quarter 2025 results.
Revenue declined 14% to €35.8 billion from €41.7 billion from a year ago, primarily due to lower shipment volumes, as well as an unfavorable mix and pricing.
Shipments amounted to 1,217 thousand units, a decrease of 9% from the prior year, reflecting lower North American production.
The total new vehicle inventory of 1.2 million units on March 31 was broadly in line with December 31.
The company approved a dividend of 68 cents per share, payable on May 5, but suspended its 2025 financial guidance due to tariff-related uncertainties.
“North America is at a very early stage, with improvement in retail order intake, while we are seeing sequential improvement in EU30 market share,” Stellantis said in a release to investors.
London Stock Exchange Group plc slipped 2% to 11.390 pence after the stock exchange operator and data analytics company reported a first-quarter trading update.
Total income, including recoveries, increased 7.9% to £2.35 billion from £2.18 billion, and gross profit jumped 8.1% to £2.05 billion from £1.89 billion a year ago.
The company announced its plan to return £500 million to shareholders via a share buyback, and at the end of April, and acquired £245 million worth of shares under the program.
The company guided fiscal 2025 total income excluding recoveries to grow between 6.5% and 7.5% in constant currency, including an acceleration in data and analytics and more normalized growth at Tradeweb.
The company also estimated free cash flow of at least £2.4 billion in 2025.
Persimmon plc advanced 3.6% to 1,341.50 pence after the UK-based home builder reported preliminary first-quarter 2025 results.
The company’s sales increased 17% to £1.68 billion from £1.43 billion a year ago, with an average selling price increased 4% from a year ago to £293,300.
The company sold a total of 9,781 homes in the quarter, an increase of 7% compared to 9,141 homes a year ago.
“We continue to have good planning success with 2,781 plots achieving detailed or reserved matters approval in the first quarter, compared to 1,457 plots in 2024, supporting our outlet growth ambition,” the company said in a release to investors.
The company estimated full-year home completions to range between 11,000 and 11,500 homes, with over half of the private homes and almost all of the housing association homes already secured.
Standard Chartered plc advanced 1.8% to 1,095.50 pence after the UK-based bank reported first-quarter 2025 results.
Net interest income edged up to $1.58 billion from $1.57 billion, profit jumped to $1.59 billion from $1.40 billion, and diluted earnings per share climbed to 55.1 pence from 45.4 pence a year ago.
The company guided operating income to increase between 5% and 7% over the four years to 2026, but 2025 growth is expected to be below the estimated range.
Operating expenses are expected to be below $12.3 billion in 2026, including the UK bank levy and the ongoing impact of the deposit insurance reclassification.
- Inga Muller
- 02 May, 2025
- Frankfurt
Stellantis plunged 1.9% to €8.14 after the parent company of Fiat reported first-quarter 2025 results.
Revenue declined 14% to €35.8 billion from €41.7 billion from a year ago, primarily due to lower shipment volumes, as well as an unfavorable mix and pricing.
Shipments amounted to 1,217 thousand units, a decrease of 9% from the prior year, reflecting lower North American production.
The total new vehicle inventory of 1.2 million units on March 31 was broadly in line with December 31.
The company approved a dividend of 68 cents per share, payable on May 5, but suspended its 2025 financial guidance due to tariff-related uncertainties.
“North America is at a very early stage, with improvement in retail order intake, while we are seeing sequential improvement in EU30 market share,” Stellantis said in a release to investors.
London Stock Exchange Group plc slipped 2% to 11.390 pence after the stock exchange operator and data analytics company reported a first-quarter trading update.
Total income, including recoveries, increased 7.9% to £2.35 billion from £2.18 billion, and gross profit jumped 8.1% to £2.05 billion from £1.89 billion a year ago.
The company announced its plan to return £500 million to shareholders via a share buyback, and at the end of April, and acquired £245 million worth of shares under the program.
The company guided fiscal 2025 total income excluding recoveries to grow between 6.5% and 7.5% in constant currency, including an acceleration in data and analytics and more normalized growth at Tradeweb.
The company also estimated free cash flow of at least £2.4 billion in 2025.
Persimmon plc advanced 3.6% to 1,341.50 pence after the UK-based home builder reported preliminary first-quarter 2025 results.
The company’s sales increased 17% to £1.68 billion from £1.43 billion a year ago, with an average selling price increased 4% from a year ago to £293,300.
The company sold a total of 9,781 homes in the quarter, an increase of 7% compared to 9,141 homes a year ago.
“We continue to have good planning success with 2,781 plots achieving detailed or reserved matters approval in the first quarter, compared to 1,457 plots in 2024, supporting our outlet growth ambition,” the company said in a release to investors.
The company estimated full-year home completions to range between 11,000 and 11,500 homes, with over half of the private homes and almost all of the housing association homes already secured.
Standard Chartered plc advanced 1.8% to 1,095.50 pence after the UK-based bank reported first-quarter 2025 results.
Net interest income edged up to $1.58 billion from $1.57 billion, profit jumped to $1.59 billion from $1.40 billion, and diluted earnings per share climbed to 55.1 pence from 45.4 pence a year ago.
The company guided operating income to increase between 5% and 7% over the four years to 2026, but 2025 growth is expected to be below the estimated range.
Operating expenses are expected to be below $12.3 billion in 2026, including the UK bank levy and the ongoing impact of the deposit insurance reclassification.
- Bridgette Randall
- 02 May, 2025
- London
Stock market indexes in Europe edged higher after investors returned from a one-day holiday amid hopes of the start of trade talks between the U.S. and China.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher and extended weekly gains between 2% and 3% as market sentiment recovered.
Investor sentiment rebounded for the fourth consecutive week in the hopes that the U.S. will extend the pause on tariffs with key trading partners.
Market sentiment was bolstered after banks, financial services providers, and industrial companies reported stronger-than-anticipated earnings in the first quarter.
Closer to home, investors are awaiting the release of the inflation, unemployment, and factory activities index in the eurozone later today.
France's final manufacturing activity index rose to 48.7 in April from 48.5 in the previous month, according to the latest update by S&P Global.
The HCOB Manufacturing PMI index, which tracks private business activities, signaled a continuation of contraction, but the pace of decline was the mildest since the latest downturn, which began in February 2023.
Across the Atlantic, investors are anticipating the release of the nonfarm payroll report, and economists are estimating job growth in April to slow down to about 135,000.
April's jobs report will provide the first look at the impact on the labor market after the U.S. president launched a global tariff war, uprooting the supply chains in place for nearly eight decades and disrupting global financial markets.
Benchmark indexes in Germany, France, Italy, and the UK dropped between 2% and 4% in April and managed to rebound from the worst decline of as much as 10% in early April.
Europe Indexes and Yields
The DAX index increased by 1.3% to 22,790.64, the CAC-40 index edged higher 1.3% to 7,691.32, and the FTSE 100 index advanced by 0.9% to 8,571.81.
The yield on 10-year German bonds inched higher to 2.47%, French bonds increased to 3.19%, the UK gilts moved down to 4.46%, and Italian bonds edged higher to 3.59%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.77 Swiss cents.
Brent crude increased $0.13 to $62.26 a barrel, and the Dutch TTF natural gas was higher by €0.59 to €32.48 per MWh.
Europe Stock Movers
Standard Chartered decreased 0.3% to 1,094.0 pence, and the UK-based bank and financial service provider reported an increase in net income and reiterated its annual outlook.
Shell PLC rose 3.4% to 2,519.0 pence after the energy explorer and retailer reported strong quarterly results and announced a $3.5 billion stock repurchase plan.
Lloyds Banking Group decreased 0.2% to 71.24 pence, and the UK-based financial service provider increased its provision for bad loans amid worries of the negative impact of the U.S.-led trade war.
The parent company of Lloyds Bank, Halifax, and Bank of Scotland reported record mortgage loan business in the quarter, but pre-tax income dropped 7% to £1.5 billion, mainly because of higher impairment charges and costs.
Net revenue in the quarter ending in March increased to 4.4 billion from 4.2 billion, net after-tax profit eased to 1.1 billion from 1.2 billion, and earnings per share were unchanged at 1.7 pence.
- Bridgette Randall
- 02 May, 2025
- London
Stock market indexes in Europe edged higher after investors returned from a one-day holiday amid hopes of the start of trade talks between the U.S. and China.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher and extended weekly gains between 2% and 3% as market sentiment recovered.
Investor sentiment rebounded for the fourth consecutive week in the hopes that the U.S. will extend the pause on tariffs with key trading partners.
Market sentiment was bolstered after banks, financial services providers, and industrial companies reported stronger-than-anticipated earnings in the first quarter.
Closer to home, investors are awaiting the release of the inflation, unemployment, and factory activities index in the eurozone later today.
France's final manufacturing activity index rose to 48.7 in April from 48.5 in the previous month, according to the latest update by S&P Global.
The HCOB Manufacturing PMI index, which tracks private business activities, signaled a continuation of contraction, but the pace of decline was the mildest since the latest downturn, which began in February 2023.
Across the Atlantic, investors are anticipating the release of the nonfarm payroll report, and economists are estimating job growth in April to slow down to about 135,000.
April's jobs report will provide the first look at the impact on the labor market after the U.S. president launched a global tariff war, uprooting the supply chains in place for nearly eight decades and disrupting global financial markets.
Benchmark indexes in Germany, France, Italy, and the UK dropped between 2% and 4% in April and managed to rebound from the worst decline of as much as 10% in early April.
Europe Indexes and Yields
The DAX index increased by 1.3% to 22,790.64, the CAC-40 index edged higher 1.3% to 7,691.32, and the FTSE 100 index advanced by 0.9% to 8,571.81.
The yield on 10-year German bonds inched higher to 2.47%, French bonds increased to 3.19%, the UK gilts moved down to 4.46%, and Italian bonds edged higher to 3.59%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.77 Swiss cents.
Brent crude increased $0.13 to $62.26 a barrel, and the Dutch TTF natural gas was higher by €0.59 to €32.48 per MWh.
Europe Stock Movers
Standard Chartered decreased 0.3% to 1,094.0 pence, and the UK-based bank and financial service provider reported an increase in net income and reiterated its annual outlook.
Shell PLC rose 3.4% to 2,519.0 pence after the energy explorer and retailer reported strong quarterly results and announced a $3.5 billion stock repurchase plan.
Lloyds Banking Group decreased 0.2% to 71.24 pence, and the UK-based financial service provider increased its provision for bad loans amid worries of the negative impact of the U.S.-led trade war.
The parent company of Lloyds Bank, Halifax, and Bank of Scotland reported record mortgage loan business in the quarter, but pre-tax income dropped 7% to £1.5 billion, mainly because of higher impairment charges and costs.
Net revenue in the quarter ending in March increased to 4.4 billion from 4.2 billion, net after-tax profit eased to 1.1 billion from 1.2 billion, and earnings per share were unchanged at 1.7 pence.
- Bridgette Randall
- 02 May, 2025
- London
Stock market indexes in Europe edged higher after investors returned from a one-day holiday amid hopes of the start of trade talks between the U.S. and China.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher and extended weekly gains between 2% and 3% as market sentiment recovered.
Investor sentiment rebounded for the fourth consecutive week in the hopes that the U.S. will extend the pause on tariffs with key trading partners.
Market sentiment was bolstered after banks, financial services providers, and industrial companies reported stronger-than-anticipated earnings in the first quarter.
Closer to home, investors are awaiting the release of the inflation, unemployment, and factory activities index in the eurozone later today.
France's final manufacturing activity index rose to 48.7 in April from 48.5 in the previous month, according to the latest update by S&P Global.
The HCOB Manufacturing PMI index, which tracks private business activities, signaled a continuation of contraction, but the pace of decline was the mildest since the latest downturn, which began in February 2023.
Across the Atlantic, investors are anticipating the release of the nonfarm payroll report, and economists are estimating job growth in April to slow down to about 135,000.
April's jobs report will provide the first look at the impact on the labor market after the U.S. president launched a global tariff war, uprooting the supply chains in place for nearly eight decades and disrupting global financial markets.
Benchmark indexes in Germany, France, Italy, and the UK dropped between 2% and 4% in April and managed to rebound from the worst decline of as much as 10% in early April.
Europe Indexes and Yields
The DAX index increased by 1.3% to 22,790.64, the CAC-40 index edged higher 1.3% to 7,691.32, and the FTSE 100 index advanced by 0.9% to 8,571.81.
The yield on 10-year German bonds inched higher to 2.47%, French bonds increased to 3.19%, the UK gilts moved down to 4.46%, and Italian bonds edged higher to 3.59%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.77 Swiss cents.
Brent crude increased $0.13 to $62.26 a barrel, and the Dutch TTF natural gas was higher by €0.59 to €32.48 per MWh.
Europe Stock Movers
Standard Chartered decreased 0.3% to 1,094.0 pence, and the UK-based bank and financial service provider reported an increase in net income and reiterated its annual outlook.
Shell PLC rose 3.4% to 2,519.0 pence after the energy explorer and retailer reported strong quarterly results and announced a $3.5 billion stock repurchase plan.
Lloyds Banking Group decreased 0.2% to 71.24 pence, and the UK-based financial service provider increased its provision for bad loans amid worries of the negative impact of the U.S.-led trade war.
The parent company of Lloyds Bank, Halifax, and Bank of Scotland reported record mortgage loan business in the quarter, but pre-tax income dropped 7% to £1.5 billion, mainly because of higher impairment charges and costs.
Net revenue in the quarter ending in March increased to 4.4 billion from 4.2 billion, net after-tax profit eased to 1.1 billion from 1.2 billion, and earnings per share were unchanged at 1.7 pence.
- Akira Ito
- 02 May, 2025
- Tokyo
Japan's benchmark indexes in Tokyo traded higher and extended gains for the third week in a row, as investors focused on the latest rate decisions.
The Nikkei 225 Stock Average gained 0.7%, and the broader Topix advanced 0.2% amid a growing belief that the Bank of Japan may pause rate hikes for a while.
The central bank held steady its short-term rates at 0.5% and lowered its estimates of annual economic growth and inflation, citing elevated global trade uncertainties.
The yen weakened to 145.21 against the U.S. dollar as currency traders speculated that interest rates are likely to stay unrevised for the next two policy meetings.
The Nikkei 225 Stock Average and the CSI 300 index extended gains for the third consecutive week and erased most of the losses of the first week in April after China signaled its willingness to engage in trade talks with the U.S.
Chinese officials confirmed that the U.S. has reached out through "several relevant channels" to start trade negotiations, raising hopes of a possible easing of tensions.
Japan's Jobless and Labor Force Participation Rates Expanded in March.
On the economic front, Japan's jobless rate edged up to 2.5% in March from 2.4% in the previous month, the Ministry of Internal Affairs & Communications said Friday.
The number of unemployed increased by 50,000 to 1.73 million, while the number of employed declined by 80,000 to 68.1 million.
The labor force, which includes employed and job seekers, shrank by 50,000 to 69.81 million, and those detached from the labor force rose by 30,000 to 39.94 million.
The labor force participation rate, not adjusted for seasonal factors, rose to 63.3% in March from 62.8% a year ago.
The critically watched jobs-to-applications ratio expanded to 1.26 from 1.24, a five-month low in February.
Japan Indexes and Stocks
The Nikkei 225 Stock Average jumped 0.7% to 36,705.53, and the broader Topix index gained 0.2% to 2,683.61.
Automobile manufacturers led gainers in Friday's trading amid hopes of improving trade tensions between the U.S. and Japan.
Toyota Motor Corp. gained 1.3% to ¥2,785.50, Honda Motor Corp. jumped 1.3% to ¥1,484.0, and Nissan Motor edged down 0.2% to ¥344.70.
Retailers traded higher amid a growing speculation that small- and mid-sized companies will increase wages at a faster rate than inflation.
Fast Retailing Co. increased 1.2% to ¥47,600.0, Isetan Mitsukoshi Holdings decreased 0.3% to ¥1,851.50, and Takashimaya Company declined 1.5% to ¥1,096.50.
Seven & I Holdings rose 2.3% to ¥2,206.50 after the company signed a non-disclosure agreement with Canada-based Alimentation Couche-Tard Inc.
The Canada-based retailer has proposed to acquire the parent company of 7-Eleven and Speedway for $47 billion, which operates 85,000 7-Elevens in 19 countries.
- Akira Ito
- 02 May, 2025
- Tokyo
Japan's benchmark indexes in Tokyo traded higher and extended gains for the third week in a row, as investors focused on the latest rate decisions.
The Nikkei 225 Stock Average gained 0.7%, and the broader Topix advanced 0.2% amid a growing belief that the Bank of Japan may pause rate hikes for a while.
The central bank held steady its short-term rates at 0.5% and lowered its estimates of annual economic growth and inflation, citing elevated global trade uncertainties.
The yen weakened to 145.21 against the U.S. dollar as currency traders speculated that interest rates are likely to stay unrevised for the next two policy meetings.
The Nikkei 225 Stock Average and the CSI 300 index extended gains for the third consecutive week and erased most of the losses of the first week in April after China signaled its willingness to engage in trade talks with the U.S.
Chinese officials confirmed that the U.S. has reached out through "several relevant channels" to start trade negotiations, raising hopes of a possible easing of tensions.
Japan's Jobless and Labor Force Participation Rates Expanded in March.
On the economic front, Japan's jobless rate edged up to 2.5% in March from 2.4% in the previous month, the Ministry of Internal Affairs & Communications said Friday.
The number of unemployed increased by 50,000 to 1.73 million, while the number of employed declined by 80,000 to 68.1 million.
The labor force, which includes employed and job seekers, shrank by 50,000 to 69.81 million, and those detached from the labor force rose by 30,000 to 39.94 million.
The labor force participation rate, not adjusted for seasonal factors, rose to 63.3% in March from 62.8% a year ago.
The critically watched jobs-to-applications ratio expanded to 1.26 from 1.24, a five-month low in February.
Japan Indexes and Stocks
The Nikkei 225 Stock Average jumped 0.7% to 36,705.53, and the broader Topix index gained 0.2% to 2,683.61.
Automobile manufacturers led gainers in Friday's trading amid hopes of improving trade tensions between the U.S. and Japan.
Toyota Motor Corp. gained 1.3% to ¥2,785.50, Honda Motor Corp. jumped 1.3% to ¥1,484.0, and Nissan Motor edged down 0.2% to ¥344.70.
Retailers traded higher amid a growing speculation that small- and mid-sized companies will increase wages at a faster rate than inflation.
Fast Retailing Co. increased 1.2% to ¥47,600.0, Isetan Mitsukoshi Holdings decreased 0.3% to ¥1,851.50, and Takashimaya Company declined 1.5% to ¥1,096.50.
Seven & I Holdings rose 2.3% to ¥2,206.50 after the company signed a non-disclosure agreement with Canada-based Alimentation Couche-Tard Inc.
The Canada-based retailer has proposed to acquire the parent company of 7-Eleven and Speedway for $47 billion, which operates 85,000 7-Elevens in 19 countries.