- Bridgette Randall
- 20 Jan, 2025
- London
Stock market indexes in the eurozone lacked direction as investors awaited the release of key corporate earnings.
In a holiday-shortened week in the U.S., benchmark indexes in Frankfurt, Paris, and London edged slightly higher ahead of the ECB's rate decision next week.
Investors have built expectations that the central bank will announce its first rate cut in 2025 and follow through on the estimate delivered at the last policy meeting on December 12.
Despite the weakening economic backdrop, market indexes in Germany and the U.K. are hovering near record highs on the hopes that the European Central Bank will lower rates by at least 100 basis points in 2025.
This week, investors are looking forward to the release of business activities surveys in the eurozone, Germany, and the U.K.
Passenger car registration data is also scheduled to be released, and hybrid cars are likely to confirm the recent demand trend in December.
Germany's Producer Price Inflation Accelerated In December
Germany’s producer prices increased 0.8% in December compared to a year ago after more than a year of deflation.
The rise in inflation was driven by an increase in capital goods prices, particularly for machinery, motor vehicles, trailers, and semi-trailers.
Energy prices fell by 0.2% with higher heating costs, and excluding energy, producer prices rose by 1.2%.
On an annual average basis, industrial producer prices were 1.8% lower in 2024 than in 2023.
In a key economic indicator, Germany's residential building permits extended a recent string of decline amid elevated interest rates and rising construction costs.
Germany's Residential Building Permits Extended Recent Decline In November
Apartment construction permits decreased 13% or 2,700 to 17,900 in November from a year ago.
In the eleven-month period to November, residential permits declined 18.9%, or 45,200, to 193,700.
A total of 14,200 apartments were approved for new residential buildings in November 2024. This was 16.8% or 2,900 apartments fewer than in the same month last year. From January to November 2024, 158,000 new apartments were approved, 21.8% or 44,100 fewer than in the same period last year.
The number of building permits for single-family homes fell by 22.1%, or 9,900, to 34,800.
For two-family homes, the number of approved apartments fell by 12.7%, or 1,700, to 11,700.
The number of approved apartments also fell significantly in the numerically largest building type, multi-family homes, by 22.4% or 29,300 to 101,200 apartments.
Europe Indexes and Yields
The DAX index increased by 0.05% to 20,913.69; the CAC-40 index rose by 0.09% to 7,716.60; and the FTSE 100 index edged higher by 0.2% to 8,522.58.
The yield on 10-year German bonds inched higher to 2.51%, French bonds rose to 3.38%, the UK gilts increased to 4.70%, and Italian bonds edged lower to 3.65%.
The euro was higher at $1.03; the British pound inched higher to $1.22; and the U.S. dollar was higher at 91.28 Swiss cents.
Brent crude decreased $0.29 to $80.48 a barrel, and the Dutch TTF natural gas fell by €0.90 to €46.23 per MWh.
- Li Chen
- 20 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced in Monday's trading amid optimism that the two largest economies in the world could avoid trade confrontation in the weeks and months ahead.
The Hang Seng index jumped 18%, and the mainland-focused CSI 300 index gained 0.5% following a call between the U.S. President-elect Donald Trump and China's leader Xi Jinping.
Both leaders expressed optimism about future trade relationships and military rivalry in the Indo-Pacific and Asia, and China's Vice President Han Zheng is scheduled to attend the inauguration of the next U.S. presidential administration.
Tech stocks advanced in Hong Kong amid expectations that the incoming U.S. presidential administration may find a solution for access to TikTok.
Despite the market enthusiasm, caution prevailed in mainland China trading amid a lack of clarity of implementation of fiscal stimulus measures and persistent weakness in consumer demand growth.
Moreover, China's growth in 2025 is expected to decelerate to closer to 4%, putting additional pressure on corporate earnings growth.
The People's Bank of China held its loan prime rate steady for the third month in a row, as the central bank struggled to arrest the weakening of the yuan.
The one-year loan prime rate, the reference rate for corporate and residential loans, was held steady at 3.1%, and the five-year loan prime rate, the reference rate for mortgage loans, was left unrevised at 3.6%.
China Stock Movers
The Hang Seng index increased 1.8% to 19,931.77, and the mainland-focused CSI 300 index advanced 0.5% to 3,829.68.
Alibaba Group Holding rose 4.8% to HK $84.60, JD.com Inc. advanced 7.2% to HK $157.40, and Baidu.com increased 2.7% to HK $80.80.
Li Auto advanced 3% to HK $89.35, BYD advanced 4.3% to HK $275.0, and Xpeng Inc increased 4.5% to HK $56.35.
- Li Chen
- 20 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced in Monday's trading amid optimism that the two largest economies in the world could avoid trade confrontation in the weeks and months ahead.
The Hang Seng index jumped 18%, and the mainland-focused CSI 300 index gained 0.5% following a call between the U.S. President-elect Donald Trump and China's leader Xi Jinping.
Both leaders expressed optimism about future trade relationships and military rivalry in the Indo-Pacific and Asia, and China's Vice President Han Zheng is scheduled to attend the inauguration of the next U.S. presidential administration.
Tech stocks advanced in Hong Kong amid expectations that the incoming U.S. presidential administration may find a solution for access to TikTok.
Despite the market enthusiasm, caution prevailed in mainland China trading amid a lack of clarity of implementation of fiscal stimulus measures and persistent weakness in consumer demand growth.
Moreover, China's growth in 2025 is expected to decelerate to closer to 4%, putting additional pressure on corporate earnings growth.
The People's Bank of China held its loan prime rate steady for the third month in a row, as the central bank struggled to arrest the weakening of the yuan.
The one-year loan prime rate, the reference rate for corporate and residential loans, was held steady at 3.1%, and the five-year loan prime rate, the reference rate for mortgage loans, was left unrevised at 3.6%.
China Stock Movers
The Hang Seng index increased 1.8% to 19,931.77, and the mainland-focused CSI 300 index advanced 0.5% to 3,829.68.
Alibaba Group Holding rose 4.8% to HK $84.60, JD.com Inc. advanced 7.2% to HK $157.40, and Baidu.com increased 2.7% to HK $80.80.
Li Auto advanced 3% to HK $89.35, BYD advanced 4.3% to HK $275.0, and Xpeng Inc increased 4.5% to HK $56.35.
- Arun Goswami
- 20 Jan, 2025
- Mumbai
India's benchmark indexes advanced in cautious trading ahead of the Union Budget.
Investors reacted favorably to the latest quarterly results from Kotak Mahindra and Wipro.
Tech Mahindra and Jio Financial Services reported weaker-than-expected results in the fiscal third quarter.
The Sensex index increased by 0.5% to 76,970.50, and the Nifty index rose by 0.4% to 23,303.40.
On the Mumbai stock exchange, 94 stocks traded at their 52-week highs, and 64 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee traded around a record edge of 86.48 against the U.S. dollar.
Wipro Ltd. advanced 5.1% to ₹299.45 after the company said profit soared 25% in the fiscal third quarter.
Consolidated revenue in the fiscal third quarter increased to ₹23,322.9 crore from ₹22,803 crore, net income rose to ₹3,366.7 crore from ₹2,700.6 crore, and diluted earnings per share increased to ₹3.20 from ₹2.58 a year ago.
SBI Life Insurance Company Ltd. increased 1.8% to ₹1,540.50 after the company reported a 55% decline in revenue in December quarter results.
Consolidated revenue in the December quarter decreased to ₹18,542.16 crore from ₹38,803.36 crore; after-tax profit expanded to ₹550.82 crore from ₹321.75 crore, and diluted losses per share rose to ₹5.50 from ₹3.21 a year ago.
Sterlite Technologies Ltd. jumped 1.8% to ₹111.55 after the company reported fiscal third quarter results.
Consolidated revenue in the December quarter decreased to ₹1,266 crore from ₹1,341 crore, after-tax losses declined to ₹24 crore from ₹59 crore, and diluted losses per share fell to 47 paisa from ₹1.24 a year ago.
ICICI Lombard General Insurance Company Ltd. increased 2% to ₹1947.15 after the company reported a rise in net income in the December quarter.
Consolidated revenue in the fiscal third quarter increased to ₹5,882.8 crore from ₹5,004.2 crore, net income rose to ₹724.4 crore from ₹431.5 crore, and diluted earnings per share advanced to ₹14.48 from ₹8.73 a year ago.
Supreme Petrochem Ltd. increased 0.9% to ₹653.70 after the company reported a rise in revenue and net income in the December quarter results.
Consolidated revenue in the fiscal third quarter increased to ₹1,422.7 crore from ₹1,187.7 crore, net income rose to ₹713.5 crore from ₹676.7 crore, and diluted earnings per share increased to ₹3.79 from ₹3.60 a year ago.
Steel Strips Wheels Ltd. decreased 3.2% to ₹197.60 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹1,075 crore from ₹1,112 crore, after-tax profit fell to ₹47.7 crore from ₹59.4 crore, and diluted earnings per share dropped to ₹3.04 from ₹3.79 a year ago.
Tech Mahindra Ltd. decreased 1.8% to ₹1,658.85 after the company said profit soared 89% from a year ago but fell 21% from the previous quarter in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹13,302.1 crore from ₹13,188.8 crore, net income jumped to ₹988.8 crore from ₹523.7 crore, and diluted earnings per share rose to ₹11.08 from ₹5.76 a year ago.
Ganesh Housing Corporation Ltd. increased 6.1% to ₹1,392.30 after the company said profit soared 60% in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹264.1 crore from ₹183.3 crore, net income jumped to ₹160.8 crore from ₹100.5 crore, and diluted earnings per share rose to ₹19.29 from ₹12.06 a year ago.
- Arun Goswami
- 20 Jan, 2025
- Mumbai
India's benchmark indexes advanced in cautious trading ahead of the Union Budget.
Investors reacted favorably to the latest quarterly results from Kotak Mahindra and Wipro.
Tech Mahindra and Jio Financial Services reported weaker-than-expected results in the fiscal third quarter.
The Sensex index increased by 0.5% to 76,970.50, and the Nifty index rose by 0.4% to 23,303.40.
On the Mumbai stock exchange, 94 stocks traded at their 52-week highs, and 64 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee traded around a record edge of 86.48 against the U.S. dollar.
Wipro Ltd. advanced 5.1% to ₹299.45 after the company said profit soared 25% in the fiscal third quarter.
Consolidated revenue in the fiscal third quarter increased to ₹23,322.9 crore from ₹22,803 crore, net income rose to ₹3,366.7 crore from ₹2,700.6 crore, and diluted earnings per share increased to ₹3.20 from ₹2.58 a year ago.
SBI Life Insurance Company Ltd. increased 1.8% to ₹1,540.50 after the company reported a 55% decline in revenue in December quarter results.
Consolidated revenue in the December quarter decreased to ₹18,542.16 crore from ₹38,803.36 crore; after-tax profit expanded to ₹550.82 crore from ₹321.75 crore, and diluted losses per share rose to ₹5.50 from ₹3.21 a year ago.
Sterlite Technologies Ltd. jumped 1.8% to ₹111.55 after the company reported fiscal third quarter results.
Consolidated revenue in the December quarter decreased to ₹1,266 crore from ₹1,341 crore, after-tax losses declined to ₹24 crore from ₹59 crore, and diluted losses per share fell to 47 paisa from ₹1.24 a year ago.
ICICI Lombard General Insurance Company Ltd. increased 2% to ₹1947.15 after the company reported a rise in net income in the December quarter.
Consolidated revenue in the fiscal third quarter increased to ₹5,882.8 crore from ₹5,004.2 crore, net income rose to ₹724.4 crore from ₹431.5 crore, and diluted earnings per share advanced to ₹14.48 from ₹8.73 a year ago.
Supreme Petrochem Ltd. increased 0.9% to ₹653.70 after the company reported a rise in revenue and net income in the December quarter results.
Consolidated revenue in the fiscal third quarter increased to ₹1,422.7 crore from ₹1,187.7 crore, net income rose to ₹713.5 crore from ₹676.7 crore, and diluted earnings per share increased to ₹3.79 from ₹3.60 a year ago.
Steel Strips Wheels Ltd. decreased 3.2% to ₹197.60 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹1,075 crore from ₹1,112 crore, after-tax profit fell to ₹47.7 crore from ₹59.4 crore, and diluted earnings per share dropped to ₹3.04 from ₹3.79 a year ago.
Tech Mahindra Ltd. decreased 1.8% to ₹1,658.85 after the company said profit soared 89% from a year ago but fell 21% from the previous quarter in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹13,302.1 crore from ₹13,188.8 crore, net income jumped to ₹988.8 crore from ₹523.7 crore, and diluted earnings per share rose to ₹11.08 from ₹5.76 a year ago.
Ganesh Housing Corporation Ltd. increased 6.1% to ₹1,392.30 after the company said profit soared 60% in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹264.1 crore from ₹183.3 crore, net income jumped to ₹160.8 crore from ₹100.5 crore, and diluted earnings per share rose to ₹19.29 from ₹12.06 a year ago.
- Barry Adams
- 17 Jan, 2025
- New York City
Wall Street indexes struggled to rebound in Friday's trading after halting a three-day rally in the previous session.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.4% ahead of earnings from regional banks.
Regions Financial, Truist Financial, and Citizens Financial are expected to report higher earnings and revenue, driven by an increase in net interest income and corporate loans.
Stock market indexes fell in Thursday's trading following reports that Apple Inc. is struggling to retain its leadership position in China amid rising competition from Huawei.
Apple's market share eased to 15% in 2024 from 19% in 2023, after Huawei and Vivo released cheaper phones with AI features.
Apple dropped 4% in Thursday's trading but rebounded a fraction in early trading on Friday as investors awaited the release of the company's quarterly results next month.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.3% to 5,949.06, the Nasdaq Composite rose 0.4% to 19,384.08, and the Russell 2000 index inched up by 0.1% to 2,267.36.
The yield on 2-year Treasury notes edged down to 4.24%, 10-year Treasury notes inched down to 4.59%, and 30-year Treasury bonds declined to 4.83%.
WTI crude oil increased $0.41 to $79.09 a barrel, and natural gas prices edged up 4 cents to $4.13 a thermal unit.
Gold decreased by $8.32 to $2,706.10 an ounce, and silver fell by $0.17 to $30.58.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.09 to 109.05 and traded at a two-year high.
U.S. Stock Movers
Regions Financial decreased 2% to $24.01 after the company released fourth quarter results.
Revenue in the quarter increased to $1.82 billion from $1.76 billion, net income advanced to $534 million from $491 million, and diluted earnings per share rose to 56 cents from 39 cents a year ago.
Net interest margin eased to 3.55% from 3.60%, and the tier-1 capital ratio rose to 12.2% from 11.6% a year ago, respectively.
- Barry Adams
- 17 Jan, 2025
- New York City
Wall Street indexes struggled to rebound in Friday's trading after halting a three-day rally in the previous session.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.4% ahead of earnings from regional banks.
Regions Financial, Truist Financial, and Citizens Financial are expected to report higher earnings and revenue, driven by an increase in net interest income and corporate loans.
Stock market indexes fell in Thursday's trading following reports that Apple Inc. is struggling to retain its leadership position in China amid rising competition from Huawei.
Apple's market share eased to 15% in 2024 from 19% in 2023, after Huawei and Vivo released cheaper phones with AI features.
Apple dropped 4% in Thursday's trading but rebounded a fraction in early trading on Friday as investors awaited the release of the company's quarterly results next month.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.3% to 5,949.06, the Nasdaq Composite rose 0.4% to 19,384.08, and the Russell 2000 index inched up by 0.1% to 2,267.36.
The yield on 2-year Treasury notes edged down to 4.24%, 10-year Treasury notes inched down to 4.59%, and 30-year Treasury bonds declined to 4.83%.
WTI crude oil increased $0.41 to $79.09 a barrel, and natural gas prices edged up 4 cents to $4.13 a thermal unit.
Gold decreased by $8.32 to $2,706.10 an ounce, and silver fell by $0.17 to $30.58.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.09 to 109.05 and traded at a two-year high.
U.S. Stock Movers
Regions Financial decreased 2% to $24.01 after the company released fourth quarter results.
Revenue in the quarter increased to $1.82 billion from $1.76 billion, net income advanced to $534 million from $491 million, and diluted earnings per share rose to 56 cents from 39 cents a year ago.
Net interest margin eased to 3.55% from 3.60%, and the tier-1 capital ratio rose to 12.2% from 11.6% a year ago, respectively.
- Inga Muller
- 17 Jan, 2025
- Frankfurt
Benchmark indexes in Frankfurt and London advanced to new record highs amid rate cut optimism and extended weekly gains to over 3%.
The DAX index increased by 0.7% to 20,796.25; the CAC-40 index rose by 0.83% to 7,698.06; and the FTSE 100 index edged higher by 1.05% to 8,479.19.
For the week, the DAX and the CAC-40 are set to advance about 4%, and the FTSE 100 index edged up more than 3%.
Glencore Plc is up 2.7% after reports suggested that the resource company held talks with the rival Rio Tinto to merge all or parts of their businesses.
The combined business would rival the longstanding industry leader BHP Group.
Rio Tinto is currently valued at about $103 billion and Glencore at about $55 billion, while BHP is worth about $126 billion.
Teleperformance increased 2.3% to €85.94, and a court approved a $5.5 million settlement in relation to a 2022 controversy over the company's content moderation practices.
In addition, the digital business services provider successfully completed a €500 million bond issue, maturing in 2030, with an annual coupon of 4.25%.
Kering SA gained 5.6% after the owner of the Gucci fashion label agreed to sell a majority stake in three luxury Paris properties to a French private equity firm, Ardian SAS.
Net proceeds for Kering will amount to €837 million, or about $861 million.
Private equity investment company Ardian will hold a 60% stake in the prime real estate portfolio, while Kering will retain the remaining 40%.
The deal is expected to close in the first quarter of 2025.
- Inga Muller
- 17 Jan, 2025
- Frankfurt
Benchmark indexes in Frankfurt and London advanced to new record highs amid rate cut optimism and extended weekly gains to over 3%.
The DAX index increased by 0.7% to 20,796.25; the CAC-40 index rose by 0.83% to 7,698.06; and the FTSE 100 index edged higher by 1.05% to 8,479.19.
For the week, the DAX and the CAC-40 are set to advance about 4%, and the FTSE 100 index edged up more than 3%.
Glencore Plc is up 2.7% after reports suggested that the resource company held talks with the rival Rio Tinto to merge all or parts of their businesses.
The combined business would rival the longstanding industry leader BHP Group.
Rio Tinto is currently valued at about $103 billion and Glencore at about $55 billion, while BHP is worth about $126 billion.
Teleperformance increased 2.3% to €85.94, and a court approved a $5.5 million settlement in relation to a 2022 controversy over the company's content moderation practices.
In addition, the digital business services provider successfully completed a €500 million bond issue, maturing in 2030, with an annual coupon of 4.25%.
Kering SA gained 5.6% after the owner of the Gucci fashion label agreed to sell a majority stake in three luxury Paris properties to a French private equity firm, Ardian SAS.
Net proceeds for Kering will amount to €837 million, or about $861 million.
Private equity investment company Ardian will hold a 60% stake in the prime real estate portfolio, while Kering will retain the remaining 40%.
The deal is expected to close in the first quarter of 2025.
- Bridgette Randall
- 17 Jan, 2025
- London
Stock market indexes in the eurozone advanced for the third consecutive session in a row amid growing expectations of weakening inflation.
Benchmark indexes in Frankfurt and London traded at new record highs, and in Paris, they edged to a new high in 2025 after the UK's inflation unexpectedly cooled.
The UK's overall consumer price inflation in December cooled to 2.5% from 2.6% in November, according to a report released by the Office for National Statistics on Thursday.
Market sentiment was further bolstered after Richemont reported strong sales in the fourth quarter, and investors doubled down on multiple rate cuts this year following comments from the ECB's policy committee member.
On Thursday, the European Central Bank's Governing Council member Yannis Stournaras said that "policy should continue with a series of rate cuts at the next meetings."
UK Retail Sales Declined In Fourth Quarter
Fourth-quarter retail sales in the UK fell 0.8% from a year ago but were up on an annual basis by 3.6%.
Fourth-quarter volumes were slower than the third quarter but rose 1.9% compared to the same period a year ago.
Monthly December sales unexpectedly declined 0.3% despite a strong Christmas season. Supermarket monthly sales dropped 1.9%, but clothing sales rebounded from falls in recent months.
For the full 2024, retail sales volumes rose by 0.7%, following a 2.9% fall in 2023 and lower 4.1% in 2022.
Europe Indexes and Yields
The DAX index increased by 0.7% to 20,796.25; the CAC-40 index rose by 0.83% to 7,698.06; and the FTSE 100 index edged higher by 1.05% to 8,479.19.
For the week, the DAX and the CAC-40 are set to advance about 4%, and the FTSE 100 index edged up more than 3%.
The yield on 10-year German bonds edged lower to 2.50%, French bonds fell to 3.31%, the UK gilts decreased to 4.64%, and Italian bonds edged lower to 3.70%.
The euro inched higher to $1.03; the British pound edged lower to $1.22; and the U.S. dollar eased to 91.00 Swiss cents.
Brent crude increased $0.44 to $81.73 a barrel, and the Dutch TTF natural gas fell by €0.90 to €46.23 per MWh.
Europe Stock Movers
Glencore Plc is up 2.7% after reports suggested that the resource company held talks with the rival Rio Tinto to merge all or parts of their businesses.
The combined business would rival the longstanding industry leader BHP Group.
Rio Tinto is currently valued at about $103 billion and Glencore at about $55 billion, while BHP is worth about $126 billion.
Teleperformance increased 2.3% to €85.94, and a court approved a $5.5 million settlement in relation to a 2022 controversy over the company's content moderation practices.
In addition, the digital business services provider successfully completed a €500 million bond issue, maturing in 2030, with an annual coupon of 4.25%.
Kering SA gained 5.6% after the owner of the Gucci fashion label agreed to sell a majority stake in three luxury Paris properties to French private equity firm Ardian SAS.
Net proceeds for Kering will amount to €837 million, or about $861 million.
Private equity investment company Ardian will hold a 60% stake in the prime real estate portfolio, while Kering will retain the remaining 40%.
The deal is expected to close in the first quarter of 2025.
- Bridgette Randall
- 17 Jan, 2025
- London
Stock market indexes in the eurozone advanced for the third consecutive session in a row amid growing expectations of weakening inflation.
Benchmark indexes in Frankfurt and London traded at new record highs, and in Paris, they edged to a new high in 2025 after the UK's inflation unexpectedly cooled.
The UK's overall consumer price inflation in December cooled to 2.5% from 2.6% in November, according to a report released by the Office for National Statistics on Thursday.
Market sentiment was further bolstered after Richemont reported strong sales in the fourth quarter, and investors doubled down on multiple rate cuts this year following comments from the ECB's policy committee member.
On Thursday, the European Central Bank's Governing Council member Yannis Stournaras said that "policy should continue with a series of rate cuts at the next meetings."
UK Retail Sales Declined In Fourth Quarter
Fourth-quarter retail sales in the UK fell 0.8% from a year ago but were up on an annual basis by 3.6%.
Fourth-quarter volumes were slower than the third quarter but rose 1.9% compared to the same period a year ago.
Monthly December sales unexpectedly declined 0.3% despite a strong Christmas season. Supermarket monthly sales dropped 1.9%, but clothing sales rebounded from falls in recent months.
For the full 2024, retail sales volumes rose by 0.7%, following a 2.9% fall in 2023 and lower 4.1% in 2022.
Europe Indexes and Yields
The DAX index increased by 0.7% to 20,796.25; the CAC-40 index rose by 0.83% to 7,698.06; and the FTSE 100 index edged higher by 1.05% to 8,479.19.
For the week, the DAX and the CAC-40 are set to advance about 4% and the FTSE 100 index edged up more than 3%.
The yield on 10-year German bonds edged lower to 2.50%, French bonds fell to 3.31%, the UK gilts decreased to 4.64%, and Italian bonds edged lower to 3.70%.
The euro inched higher to $1.03; the British pound edged lower to $1.22; and the U.S. dollar eased to 91.00 Swiss cents.
Brent crude increased $0.44 to $81.73 a barrel, and the Dutch TTF natural gas fell by €0.90 to €46.23 per MWh.
Europe Stock Movers
Glencore Plc is up 2.7% after reports suggested that the resource company held talks with the rival Rio Tinto to merge all or parts of their businesses.
The combined business would rival the longstanding industry leader BHP Group.
Rio Tinto is currently valued at about $103 billion and Glencore at about $55 billion, while BHP is worth about $126 billion.
Teleperformance increased 2.3% to €85.94, and a court approved a $5.5 million settlement in relation to a 2022 controversy over the company's content moderation practices.
In addition, the digital business services provider successfully completed a €500 million bond issue, maturing in 2030, with an annual coupon of 4.25%.
Kering SA gained 5.6% after the owner of the Gucci fashion label agreed to sell a majority stake in three luxury Paris properties to French private equity firm Ardian SAS.
Net proceeds for Kering will amount to €837 million, or about $861 million.
Private equity investment company Ardian will hold a 60% stake in the prime real estate portfolio, while Kering will retain the remaining 40%.
The deal is expected to close in the first quarter of 2025.
- Akira Ito
- 17 Jan, 2025
- Tokyo
Stock market indexes in Tokyo closed down and extended weekly losses mirroring market weakness in overnight trading in New York.
The Nikkei 225 stock average decreased 0.4%, and the TOPIX dropped 0.3% after investors debated future rate paths and inflation outlook.
The Japanese yen turned volatile after the Bank of Japan Governor Kazuo Ueda said on Wednesday that the central bank is prepared to talk about possible future rate hikes at the next meeting ending on January 24.
Investors were also cautious ahead of the pick-up in earnings announcements next week amid a shift in geopolitical outlook and a rise in trade tensions with the U.S.
Japanese corporations are bracing for higher U.S. trade barriers, slower economic growth in China, and the rise of China-made electric vehicles in the global markets.
Moreover, corporate earnings growth is expected to remain muted amid persistent weakness in domestic consumption growth and a tepid growth in domestic wages.
Japan Stock Movers
The Nikkei 225 Stock Average declined 0.4% to 38,451.46, and the broader TOPIX fell 0.3% to 2,679.42.
For the week, benchmark indexes declined 2.3% and 1.8% respectively, and they extended losses to the third consecutive week.
Nintendo Co. Ltd. declined 4.2% to ¥9,181.0 after the online game company announced the release of the Switch 2 console later in the year.
Tech stocks led the decliners in Tokyo, and automakers were in focus ahead of corporate results over the next two weeks.
Advantest Corp. declined 0.4% to ¥9,158.0, Tokyo Electron edged up 0.01% to ¥26,655.0, and Disco Corp. decreased 0.3% to ¥44,030.0.
Toyota Motor Corp. fell 1.7% to ¥2,788.0, Honda Motor Corp advanced 0.3% to ¥1,460.0, Subaru Corp declined 0.4% to ¥2,570.50.
Seven &I Holdings rose 0.7% to ¥2,463.0, Takashimaya Corp. decreased 1.9% to ¥1,214.50, Fast Retailing eased 0.4% to ¥48,060.0, and Isetan Mitsukoshi Holdings increased 1.1% to ¥2,431.0.
- Akira Ito
- 17 Jan, 2025
- Tokyo
Stock market indexes in Tokyo closed down and extended weekly losses mirroring market weakness in overnight trading in New York.
The Nikkei 225 stock average decreased 0.4%, and the TOPIX dropped 0.3% after investors debated future rate paths and inflation outlook.
The Japanese yen turned volatile after the Bank of Japan Governor Kazuo Ueda said on Wednesday that the central bank is prepared to talk about possible future rate hikes at the next meeting ending on January 24.
Investors were also cautious ahead of the pick-up in earnings announcements next week amid a shift in geopolitical outlook and a rise in trade tensions with the U.S.
Japanese corporations are bracing for higher U.S. trade barriers, slower economic growth in China, and the rise of China-made electric vehicles in the global markets.
Moreover, corporate earnings growth is expected to remain muted amid persistent weakness in domestic consumption growth and a tepid growth in domestic wages.
Japan Stock Movers
The Nikkei 225 Stock Average declined 0.4% to 38,451.46, and the broader TOPIX fell 0.3% to 2,679.42.
For the week, benchmark indexes declined 2.3% and 1.8% respectively, and they extended losses to the third consecutive week.
Nintendo Co. Ltd. declined 4.2% to ¥9,181.0 after the online game company announced the release of the Switch 2 console later in the year.
Tech stocks led the decliners in Tokyo, and automakers were in focus ahead of corporate results over the next two weeks.
Advantest Corp. declined 0.4% to ¥9,158.0, Tokyo Electron edged up 0.01% to ¥26,655.0, and Disco Corp. decreased 0.3% to ¥44,030.0.
Toyota Motor Corp. fell 1.7% to ¥2,788.0, Honda Motor Corp advanced 0.3% to ¥1,460.0, Subaru Corp declined 0.4% to ¥2,570.50.
Seven &I Holdings rose 0.7% to ¥2,463.0, Takashimaya Corp. decreased 1.9% to ¥1,214.50, Fast Retailing eased 0.4% to ¥48,060.0, and Isetan Mitsukoshi Holdings increased 1.1% to ¥2,431.0.
- Li Chen
- 17 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong retained a mild upswing after the release of key economic data.
The Hang Seng index advanced 0.3%, and the mainland-focused CSI 300 index gained 0.6%, and investors welcomed the acceleration in economic growth in the fourth quarter.
China's GDP expanded at an annual pace of 5.4% in the fourth quarter, faster than 4.6% in the third quarter, the National Bureau of Statistics reported Friday.
The economic growth was the strongest in six quarters, boosted by a surge in exports and aggressive stimulus, but market sentiment was tempered by the lack of clarity in implementing additional stimulus measures.
For the full year 2024, China's economy expanded at an annual pace of 5%, matching the estimate set by the central government but slower than 5.2% in 2023.
China's annual GDP growth is expected to slow to closer to 4% in 2025 and decline further to 3% over the subsequent two years.
In other economic news, industrial output soared 6.2% in December, surpassing the 5.4% in November, the statistical bureau reported in a separate report.
For the full year 2024, industrial output increased to 5.8%, largely because of the strength in the manufacturing sector.
China's retail sales growth accelerated to 3.7% in December from 3.0% in November, but sales growth slowed to 3.5% in the whole of 2024 from 7.2% in 2023.
Online sales and rising demand for basic items supported the advance in retail sales in the year.
The unemployment rate advanced to 5.1% in December, ahead of the 5% target set by the government, despite the strength in the manufacturing sector.
New home prices in 70 large cities declined 5.3% from a year ago in December, the National Bureau of Statistics reported Friday.
New home prices have been on the slide outside of the four largest urban areas, despite several incentives announced by local governments over the last three months.
New home prices decreased for the 18th month in a row despite the People's Bank of China lowering mortgage rates and facilitating purchases by first-time home buyers.
Prices in Beijing fell 5.4% compared to 5.3%, Shenzhen declined 6.1% from 7.1%, and in Guangzhou dropped 9.1% and matched the rate in the previous month, respectively.
However, new home prices in Shanghai increased 5.3% compared to 5.0% in November.
China Stock Movers
The Hang Seng index increased 0.3% to 19,581.15, and the CSI index advanced 0.6% to 3,824.41.
Property stocks declined in Hong Kong and China after the release of new home price data.
China Vanke decreased 6.2% to HK $4.56 after a local newspaper reported that the company's chief executive, Zhu Jiusheng, was taken away by local police.
The property developer is struggling to repay its domestic and foreign currency-denominated debt of $4.9 billion on time.