Japan Indexes Halt 3-Day Rally; Sony Group and Toppan Holdings Advance After Earnings Releases

Stock market indexes in Tokyo halted a three-day rally, and the yen rebounded in Friday's trading. 

The Nikkei 225 stock average declined 0.8%, and the TOPIX decreased 0.2%, but the benchmark indexes extended the weekly advance to 1%.

The Japanese yen recovered to 152.45 against the U.S. dollar on speculation that the Bank of Japan will continue its interest rate hike campaign at the next meeting. 

Two hotter-than-expected inflation reports confirmed that inflation is well anchored in the U.S., and the Federal Reserve is less likely to lower rates in the near future. 

Producer price inflation in January advanced at an annual pace of 3.5%, and consumer price inflation accelerated to 3.0% from 2.9% in December.

Both measures of inflation were ahead of market expectations, setting the stage for the U.S. policymakers to wait a little longer before considering lowering rates. 

Japan Indexes 

The Nikkei 225 Stock Average decreased 0.8% to 39,149.43, and the broader index, TOPIX, eased 0.2% to 2,759.21.

Japan Stocks 

Resonac Holdings decreased 5% to ¥3,681.0 after the specialty chemical company reported results for 2024. 

Consolidated revenue in 2024 increased to 1.38 billion yen from 1.28 billion yen, net income swung to a profit of 55.4 billion yen from a loss of 19 billion yen, and basic earnings per share were a profit of 306.6 yen compared to a loss of 104.65 yen a year ago.

Toppan Holdings soared 15.5% to ¥4,703.0 after the printing company retained its annual sales outlook. 

Net sales increased 4.1% to 432.5 billion yen, and net income advanced 1.8% to 40.4 billion yen.

The company reiterated its full-year revenue estimate of 1.72 trillion yen, net income of 80 billion yen compared to the previous estimate of 70 billion yen, and dividend per share of 48 yen.

Honda Motor advanced 2.5% to ¥1,469.50, and Nissan Motor gained 2.5% to ¥425.70 after the two companies ended their merger talks but agreed to look for ways to cooperate on projects of common interest. 

The much ballyhooed merger talks were driven by the government pressure after two companies struggled amid rising competition from Chinese electric vehicle makers.

Sony Group soared 8.6% to ¥3,705.0 after the technology and financial services company reported better-than-expected results, and the company raised its full-year sales forecast. 

Profit in the fiscal third quarter ending in December soared 37%, driven by the strength in its  gaming unit and PlayStation 5 sales increased to 9.4 million units. 

In a wider trading, Mitsubishi Materials, Japan Steel Works, and Japan Tobacco fell around 3%.

Tokyo Gas, Trend Micro, and Taiheiyo Cement advanced between 2% and 4%. 

AI Euphoria Extends Hang Seng Index Rally to Fifth Consecutive Week

Stock market indexes in China and Hong Kong extended weekly gains amid artificial intelligence euphoria. 

The Hang Seng index soared more than 2% and extended the weekly rise to above 5%, and the benchmark index rallied for the fifth week in a row. 

The Mainland China-focused CSI 300 index advanced 0.7% and extended the weekly gain to 1% amid a cautiously positive outlook for fiscal stimulus. 

The Hang Seng Tech Index, which tracks leading semiconductor and Internet-based service providers, jumped to a new high since October, amid optimism that the affordable artificial intelligence technology-based tools and products may kick off another cycle of earnings growth. 

Investors continued to bid up stocks of Baidu Inc, Alibaba Group, Tencent Holdings, JD.com, and SMIC. 

Investors overlooked the growing possibilities of Hong Kong interest rates staying higher for longer, after two hotter-than-expected inflation reports confirmed that the U.S. Federal Reserve is likely to hold rates in the near future. 

China Indexes and Stocks 

The Hang Seng index jumped 2.5% to 22,362.88 and the mainland-focused CSI 300 index added 0.7% to 3,930.73. 

Alibaba Group Holding gained 3.2% to HK $120.50, Baidu Inc advanced 1% to HK $94.90, Tencent Holdings gained 5.5% to HK $466.40, and JD.com gained 4.4% to HK $158.10.

Semiconductor Manufacturing International decreased 4.4% to HK $44.15, and the Chinese government controlled foundry traded at a new record high amid optimism about the demand surge  in artificial intelligence-linked chips. 

AI Euphoria Extends Hang Seng Index Rally to Fifth Consecutive Week

Stock market indexes in China and Hong Kong extended weekly gains amid artificial intelligence euphoria. 

The Hang Seng index soared more than 2% and extended the weekly rise to above 5%, and the benchmark index rallied for the fifth week in a row. 

The Mainland China-focused CSI 300 index advanced 0.7% and extended the weekly gain to 1% amid a cautiously positive outlook for fiscal stimulus. 

The Hang Seng Tech Index, which tracks leading semiconductor and Internet-based service providers, jumped to a new high since October, amid optimism that the affordable artificial intelligence technology-based tools and products may kick off another cycle of earnings growth. 

Investors continued to bid up stocks of Baidu Inc, Alibaba Group, Tencent Holdings, JD.com, and SMIC. 

Investors overlooked the growing possibilities of Hong Kong interest rates staying higher for longer, after two hotter-than-expected inflation reports confirmed that the U.S. Federal Reserve is likely to hold rates in the near future. 

China Indexes and Stocks 

The Hang Seng index jumped 2.5% to 22,362.88 and the mainland-focused CSI 300 index added 0.7% to 3,930.73. 

Alibaba Group Holding gained 3.2% to HK $120.50, Baidu Inc advanced 1% to HK $94.90, Tencent Holdings gained 5.5% to HK $466.40, and JD.com gained 4.4% to HK $158.10.

Semiconductor Manufacturing International decreased 4.4% to HK $44.15, and the Chinese government controlled foundry traded at a new record high amid optimism about the demand surge  in artificial intelligence-linked chips. 

India Movers: Godfrey Phillips, Hindalco, Lux Industries, Manappuram Finance, MMTC, SJVN, United Breweries

The Sensex and Nifty indexes extended weekly losses to over 2% amid persistent outflow of foreign funds and weak earnings growth outlook. 

The Sensex index fell by 0.3% to 75,935.79, and the Nifty index decreased by 0.2% to 22,950.55.

On the Mumbai stock exchange, 31 stocks traded at their 52-week highs, and 243 stocks traded at their 52-week lows.

Hindalco Industries Ltd. advanced 0.3% to ₹604 after the copper producer reported an 11% rise in revenue in the December quarter.

Consolidated revenue increased to ₹58,899 crore from ₹53,088 crore, net income advanced to ₹3,735 crore from ₹2,331 crore, and diluted earnings per share rose to ₹16.82 from ₹10.50 a year ago.

Godfrey Phillips India Ltd. increased 13% to ₹5,617.90 after the flagship company of Modi Enterprises reported a 47% jump in its earnings in the December quarter.

Consolidated revenue increased to ₹1,942.8 crore from ₹1,544.7 crore, after-tax profit rose to ₹315.8 crore from ₹212.4 crore, and diluted earnings per share jumped to ₹60.95 from ₹40.85 a year ago.

Manappuram Finance Ltd. fell 6% to ₹182.70, and the non-banking financial company reported a sharp decline in net income in the December quarter.

Consolidated revenue increased to ₹2,559.7 crore from ₹2,305.2 crore, net income fell to ₹278.5 crore from ₹575.3 crore, and diluted earnings per share decreased to ₹3.29 from ₹6.79 a year ago.

Lux Industries Ltd. declined 3% to ₹1,432, despite the innerwear products maker reporting a 55% surge in profit in the December quarter.

Consolidated revenue advanced to ₹557.30 crore from ₹454.46 crore, after-tax profit jumped to ₹32.6 crore from ₹21 crore, and diluted earnings per share rose to ₹10.85 from ₹6.97 a year ago.

MMTC Limited plunged 4% to ₹59.15 after the commodities trading company controlled by the central government reported a sharp decline in quarterly revenue and earnings.

Consolidated revenue decreased to ₹35.3 crore from ₹63.3 crore, after-tax profit fell to ₹3.6 crore from ₹5.7 crore, and diluted earnings per share dropped to 2 paisa from 37 paisa a year ago.

SJVN Ltd. decreased 1% to ₹91.73, and the hydroelectric power supplier reported a rise in revenue and net income in the December quarter.

Consolidated revenue increased to ₹760.8 crore from ₹607.7 crore, after-tax profit rose to ₹148.7 crore from ₹139 crore, and diluted earnings per share advanced to 39 paisa from 33 paisa a year ago.

The company's board declared an interim dividend of ₹1.15 per share, payable on March 6 or after.

United Breweries Limited rose 4% to ₹2,105.15 after the alcoholic beverage maker reported a slight increase in revenue and a 55% decline in profit in the December quarter.

Consolidated revenue increased to ₹4,436.7 crore from ₹4,179.8 crore, net income fell to ₹38.5 crore from ₹85.8 crore, and diluted earnings per share declined to ₹1.45 from ₹3.23 a year ago.

Ipca Laboratories Ltd. fell 3% to ₹1,452.10, despite the pharmaceutical company reporting a rise in revenue and earnings in the December quarter. 

Consolidated revenue increased to ₹2,265.5 crore from ₹2,075.3 crore, after-tax profit advanced to ₹277.3 crore from ₹222.6 crore, and diluted earnings per share rose to ₹9.78 from ₹7.09 a year ago.

India Movers: Godfrey Phillips, Hindalco, Lux Industries, Manappuram Finance, MMTC, SJVN, United Breweries

The Sensex and Nifty indexes extended weekly losses to over 2% amid persistent outflow of foreign funds and weak earnings growth outlook. 

The Sensex index fell by 0.3% to 75,935.79, and the Nifty index decreased by 0.2% to 22,950.55.

On the Mumbai stock exchange, 31 stocks traded at their 52-week highs, and 243 stocks traded at their 52-week lows.

Hindalco Industries Ltd. advanced 0.3% to ₹604 after the copper producer reported an 11% rise in revenue in the December quarter.

Consolidated revenue increased to ₹58,899 crore from ₹53,088 crore, net income advanced to ₹3,735 crore from ₹2,331 crore, and diluted earnings per share rose to ₹16.82 from ₹10.50 a year ago.

Godfrey Phillips India Ltd. increased 13% to ₹5,617.90 after the flagship company of Modi Enterprises reported a 47% jump in its earnings in the December quarter.

Consolidated revenue increased to ₹1,942.8 crore from ₹1,544.7 crore, after-tax profit rose to ₹315.8 crore from ₹212.4 crore, and diluted earnings per share jumped to ₹60.95 from ₹40.85 a year ago.

Manappuram Finance Ltd. fell 6% to ₹182.70, and the non-banking financial company reported a sharp decline in net income in the December quarter.

Consolidated revenue increased to ₹2,559.7 crore from ₹2,305.2 crore, net income fell to ₹278.5 crore from ₹575.3 crore, and diluted earnings per share decreased to ₹3.29 from ₹6.79 a year ago.

Lux Industries Ltd. declined 3% to ₹1,432, despite the innerwear products maker reporting a 55% surge in profit in the December quarter.

Consolidated revenue advanced to ₹557.30 crore from ₹454.46 crore, after-tax profit jumped to ₹32.6 crore from ₹21 crore, and diluted earnings per share rose to ₹10.85 from ₹6.97 a year ago.

MMTC Limited plunged 4% to ₹59.15 after the commodities trading company controlled by the central government reported a sharp decline in quarterly revenue and earnings.

Consolidated revenue decreased to ₹35.3 crore from ₹63.3 crore, after-tax profit fell to ₹3.6 crore from ₹5.7 crore, and diluted earnings per share dropped to 2 paisa from 37 paisa a year ago.

SJVN Ltd. decreased 1% to ₹91.73, and the hydroelectric power supplier reported a rise in revenue and net income in the December quarter.

Consolidated revenue increased to ₹760.8 crore from ₹607.7 crore, after-tax profit rose to ₹148.7 crore from ₹139 crore, and diluted earnings per share advanced to 39 paisa from 33 paisa a year ago.

The company's board declared an interim dividend of ₹1.15 per share, payable on March 6 or after.

United Breweries Limited rose 4% to ₹2,105.15 after the alcoholic beverage maker reported a slight increase in revenue and a 55% decline in profit in the December quarter.

Consolidated revenue increased to ₹4,436.7 crore from ₹4,179.8 crore, net income fell to ₹38.5 crore from ₹85.8 crore, and diluted earnings per share declined to ₹1.45 from ₹3.23 a year ago.

Ipca Laboratories Ltd. fell 3% to ₹1,452.10, despite the pharmaceutical company reporting a rise in revenue and earnings in the December quarter. 

Consolidated revenue increased to ₹2,265.5 crore from ₹2,075.3 crore, after-tax profit advanced to ₹277.3 crore from ₹222.6 crore, and diluted earnings per share rose to ₹9.78 from ₹7.09 a year ago.

U.S. and World Markets March Ahead Overlooking Tariff Tantrums

Benchmark indexes in New York edged higher as investors looked beyond two hotter-than-expected inflation reports released in as many days.

Positive earnings from leading companies have supported market enthusiasm, despite rising trade tensions and growing realization that the Fed is likely to delay rate cuts amid gathering inflationary forces. 

The S&P 500 index gained 0.5%, and the Nasdaq Composite advanced 0.9%, and the yield on 10-year Treasury notes remained elevated. 

Producer price inflation in January slowed from December, but the level was still ahead of market estimates.

Producer inflation slowed to 0.4% in January from the upwardly revised 0.5% in December, the U.S. Bureau of Labor Statistics reported Thursday. 

On an annual basis, producer price inflation was unchanged at 3.5%, matching the upwardly revised rate in December. 

Core inflation, which excludes food and energy inflation, advanced 0.3% from the previous month and gained 3.6% from a year ago.

Thursday's producer price inflation report follows Wednesday's hotter-than-expected consumer price inflation report, confirming that the Federal Reserve is not likely to lower interest rates anytime soon. 

Moreover, inflation is likely to remain elevated as the Trump administration doubles down on imposing more import taxes, or tariffs, on shipments from key trading partners in Europe, Asia, and North America.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,059.56, the Nasdaq Composite edged up 0.3% to 19,710.78, and the Russell 2000 index was up 0.5% to 2,267.31.

The yield on 2-year Treasury notes edged lower to 4.36%, 10-year Treasury notes decreased to 4.56%, and 30-year Treasury bonds declined to 4.81%.

WTI crude oil decreased $0.71 to $70.65 a barrel, and natural gas prices edged higher by $0.13 to $3.69 a thermal unit.

Gold increased by $4.62 to $2,910.52 an ounce, and silver edged down by $0.24 to $32.03.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.19 to 107.78 and traded at a two-year high.

U.S. Stock Movers

Dutch Bros Inc. soared 31% to $85.10 after the coffee chain operator reported better-than-expected quarterly results, and the company's full-year outlook was ahead of expectations.

The Trade Desk plunged 32% to $83.60 after the digital advertising company estimated weaker-than-expected results in the current quarter. 

Reddit, Inc. declined 7.8% to $199.87 after the social media platform operator reported weaker-than-expected quarterly results. 

MGM Resorts soared 13.5% to $39.0 after the casino company reported a 1% decline in consolidated revenue in the fourth quarter, but results were ahead of market expectations. 

European Markets Advanced, UK Q4 GDP Expanded, Eurozone Industrial Output Shrank 

Stock market indexes in Europe advanced, and investors reviewed the latest economic updates in the region. 

Benchmark indexes in Frankfurt traded at a new high, but market indexes in London fell after the release of GDP figures. 

Germany's consumer price inflation in January eased to an annual pace of 2.3% from an eleven-month high of 2.6% in December, according to the second estimate released by the Federal Statistical Office, or Destatis. 

Eurozone industrial output fell at an annual pace of 2.0% in December, following a revised 1.8% contraction in the previous month, Eurostat said in an update on Thursday. 

The UK economy unexpectedly expanded in the fourth quarter, driven by increases in activities in construction and services, the Office for National Statistics said Thursday. 

Gross domestic product increased 0.1% from the third quarter, when the economy was flat. 

On an annual basis, the UK economy expanded at a pace of 1.4%, compared to a 1.0% increase in the third quarter.

Europe Indexes and Yields

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17. 

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Brent crude decreased $0.50 to $74.69 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Orange SA increased 2.7% to €11.04 after the French telecom carrier met targets it set for 2024. 

Delivery Hero SE jumped 8.3% to €28.43 after the German food delivery company's revenue increase in the fourth quarter surpassed market expectations. 

British American Tobacco declined 7.2% to 3,151.47 pence after the tobacco company reported mixed results. 

Barclays PLC decreased 5.4% to 291.10 pence, despite the British bank posting higher profit in the fiscal year 2024 and launching a £1 billion stock buyback.

Japan Indexes Extended Market Rally to Second Session

Stock market indexes in Tokyo advanced for the second session in a row, and the weaker yen boosted the outlook for earnings growth. 

The Nikkei 225 stock average jumped more than 1.3%, and the TOPIX advanced 1.2% after investors reviewed the latest batch of positive earnings. 

Market sentiment was boosted after the yen dropped below 154.55 against the dollar, making the Japanese assets more attractive to foreign investors and improving the profit outlook for the export-driven Japanese companies. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 1.3% to 39,461.47, and the TOPIX advanced 1.2% to 2,765.59. 

Financials, retailers, and advanced equipment makers led the gainers in Tokyo. 

Advantest Corp. increased 3.3% to ¥9,220.0, Tokyo Electron decreased 0.5% to ¥25,350.0, and Lasertec jumped 2% to ¥15,480.0. 

SoftBank Group decreased 3.5% to ¥9,504.0, and the high-tech investment company reported a loss in the December quarter, reflecting a slump in valuation in tech companies at its Vision Fund. 

Trend Micro soared 16% to ¥10,860.0 after a report suggested a heated takeover battle for the cybersecurity company. 

Bain Capital and Advent International are among the few of the several companies looking to acquire the Japan-based computer security company, according to a report by Reuters. 

Toray Industries jumped 8% to ¥1,020.0 after the composite materials maker reported nine-month financial results. 

Net income in the third quarter increased 17% from a year ago to 19.65 billion yen but fell short of market expectations. 

For the full year, the company retained a sales estimate of 2.6 trillion yen, net income of 88 billion yen, and a cash dividend of 18 yen per share.

DeepSeek-Driven Rally Lifts Hong Kong Tech Index to Five-Month High 

Stock market indexes in Hong Kong extended gains amid continued demand for tech stocks. 

The Hang Seng index advanced nearly 2%, but the mainland-focused CSI 300 index declined a fraction. 

The Hang Seng Tech Index advanced as much as 2.3% and surpassed the previous high reached in September when the central government and the PBOC announced a raft of stimulus measures. 

The current market euphoria is driven by the success of the open-access chatbot DeepSeek, which could make artificial intelligence tools more affordable. 

Leading tech Chinese companies are expected to include their artificial intelligence-driven tools in their services, which could spark another cycle of earnings growth. 

However, the tech enthusiasm in Hong Kong was not shared in trading in mainland China, as investors worried about tariff headwinds and lack of progress in implementing the previously announced stimulus measures. 

China Indexes and Stocks 

The Hang Seng index jumped 1.7% to 22,233.01, and the CSI 300 index decreased 0.3% to 3,908.72.

Alibaba Group jumped 1.4% to HK $115.40, Tencent Holdings advanced 1.6% to HK $458.80, JD.com Inc jumped 1.2% to HK $156.40, and SMIC advanced 0.3% to HK $48.10.

U.S. and World Markets March Ahead Overlooking Tariff Tantrums

Benchmark indexes in New York edged higher as investors looked beyond two hotter-than-expected inflation reports released in as many days.

Positive earnings from leading companies have supported market enthusiasm, despite rising trade tensions and growing realization that the Fed is likely to delay rate cuts amid gathering inflationary forces. 

The S&P 500 index gained 0.5%, and the Nasdaq Composite advanced 0.9%, and the yield on 10-year Treasury notes remained elevated. 

Producer price inflation in January slowed from December, but the level was still ahead of market estimates.

Producer inflation slowed to 0.4% in January from the upwardly revised 0.5% in December, the U.S. Bureau of Labor Statistics reported Thursday. 

On an annual basis, producer price inflation was unchanged at 3.5%, matching the upwardly revised rate in December. 

Core inflation, which excludes food and energy inflation, advanced 0.3% from the previous month and gained 3.6% from a year ago.

Thursday's producer price inflation report follows Wednesday's hotter-than-expected consumer price inflation report, confirming that the Federal Reserve is not likely to lower interest rates anytime soon. 

Moreover, inflation is likely to remain elevated as the Trump administration doubles down on imposing more import taxes, or tariffs, on shipments from key trading partners in Europe, Asia, and North America.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,059.56, the Nasdaq Composite edged up 0.3% to 19,710.78, and the Russell 2000 index was up 0.5% to 2,267.31.

The yield on 2-year Treasury notes edged lower to 4.36%, 10-year Treasury notes decreased to 4.56%, and 30-year Treasury bonds declined to 4.81%.

WTI crude oil decreased $0.71 to $70.65 a barrel, and natural gas prices edged higher by $0.13 to $3.69 a thermal unit.

Gold increased by $4.62 to $2,910.52 an ounce, and silver edged down by $0.24 to $32.03.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.19 to 107.78 and traded at a two-year high.

U.S. Stock Movers

Dutch Bros Inc. soared 31% to $85.10 after the coffee chain operator reported better-than-expected quarterly results, and the company's full-year outlook was ahead of expectations.

The Trade Desk plunged 32% to $83.60 after the digital advertising company estimated weaker-than-expected results in the current quarter. 

Reddit, Inc. declined 7.8% to $199.87 after the social media platform operator reported weaker-than-expected quarterly results. 

MGM Resorts soared 13.5% to $39.0 after the casino company reported a 1% decline in consolidated revenue in the fourth quarter, but results were ahead of market expectations. 

European Markets Advanced, UK Q4 GDP Expanded, Eurozone Industrial Output Shrank 

Stock market indexes in Europe advanced, and investors reviewed the latest economic updates in the region. 

Benchmark indexes in Frankfurt traded at a new high, but market indexes in London fell after the release of GDP figures. 

Germany's consumer price inflation in January eased to an annual pace of 2.3% from an eleven-month high of 2.6% in December, according to the second estimate released by the Federal Statistical Office, or Destatis. 

Eurozone industrial output fell at an annual pace of 2.0% in December, following a revised 1.8% contraction in the previous month, Eurostat said in an update on Thursday. 

The UK economy unexpectedly expanded in the fourth quarter, driven by increases in activities in construction and services, the Office for National Statistics said Thursday. 

Gross domestic product increased 0.1% from the third quarter, when the economy was flat. 

On an annual basis, the UK economy expanded at a pace of 1.4%, compared to a 1.0% increase in the third quarter.

Europe Indexes and Yields

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17. 

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Brent crude decreased $0.50 to $74.69 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Orange SA increased 2.7% to €11.04 after the French telecom carrier met targets it set for 2024. 

Delivery Hero SE jumped 8.3% to €28.43 after the German food delivery company's revenue increase in the fourth quarter surpassed market expectations. 

British American Tobacco declined 7.2% to 3,151.47 pence after the tobacco company reported mixed results. 

Barclays PLC decreased 5.4% to 291.10 pence, despite the British bank posting higher profit in the fiscal year 2024 and launching a £1 billion stock buyback.

Japan Indexes Extended Market Rally to Second Session

Stock market indexes in Tokyo advanced for the second session in a row, and the weaker yen boosted the outlook for earnings growth. 

The Nikkei 225 stock average jumped more than 1.3%, and the TOPIX advanced 1.2% after investors reviewed the latest batch of positive earnings. 

Market sentiment was boosted after the yen dropped below 154.55 against the dollar, making the Japanese assets more attractive to foreign investors and improving the profit outlook for the export-driven Japanese companies. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 1.3% to 39,461.47, and the TOPIX advanced 1.2% to 2,765.59. 

Financials, retailers, and advanced equipment makers led the gainers in Tokyo. 

Advantest Corp. increased 3.3% to ¥9,220.0, Tokyo Electron decreased 0.5% to ¥25,350.0, and Lasertec jumped 2% to ¥15,480.0. 

SoftBank Group decreased 3.5% to ¥9,504.0, and the high-tech investment company reported a loss in the December quarter, reflecting a slump in valuation in tech companies at its Vision Fund. 

Trend Micro soared 16% to ¥10,860.0 after a report suggested a heated takeover battle for the cybersecurity company. 

Bain Capital and Advent International are among the few of the several companies looking to acquire the Japan-based computer security company, according to a report by Reuters. 

Toray Industries jumped 8% to ¥1,020.0 after the composite materials maker reported nine-month financial results. 

Net income in the third quarter increased 17% from a year ago to 19.65 billion yen but fell short of market expectations. 

For the full year, the company retained a sales estimate of 2.6 trillion yen, net income of 88 billion yen, and a cash dividend of 18 yen per share.

DeepSeek-Driven Rally Lifts Hong Kong Tech Index to Five-Month High 

Stock market indexes in Hong Kong extended gains amid continued demand for tech stocks. 

The Hang Seng index advanced nearly 2%, but the mainland-focused CSI 300 index declined a fraction. 

The Hang Seng Tech Index advanced as much as 2.3% and surpassed the previous high reached in September when the central government and the PBOC announced a raft of stimulus measures. 

The current market euphoria is driven by the success of the open-access chatbot DeepSeek, which could make artificial intelligence tools more affordable. 

Leading tech Chinese companies are expected to include their artificial intelligence-driven tools in their services, which could spark another cycle of earnings growth. 

However, the tech enthusiasm in Hong Kong was not shared in trading in mainland China, as investors worried about tariff headwinds and lack of progress in implementing the previously announced stimulus measures. 

China Indexes and Stocks 

The Hang Seng index jumped 1.7% to 22,233.01, and the CSI 300 index decreased 0.3% to 3,908.72.

Alibaba Group jumped 1.4% to HK $115.40, Tencent Holdings advanced 1.6% to HK $458.80, JD.com Inc jumped 1.2% to HK $156.40, and SMIC advanced 0.3% to HK $48.10.

Wall Street Indexes Brave Higher and Look Beyond Inflation Reports Amid Positive Earnings

Benchmark indexes in New York edged higher as investors looked beyond two inflation reports in as many days.

The S&P 500 index gained 0.1%, and the Nasdaq Composite advanced 0.3%, and the yield on 10-year Treasury notes remained elevated. 

Producer price inflation in January slowed from December, but the level was still ahead of market estimates.

Producer inflation slowed to 0.4% in January from the upwardly revised 0.5% in December, the U.S. Bureau of Labor Statistics reported Thursday. 

On an annual basis, producer price inflation was unchanged at 3.5%, matching the upwardly revised rate in December. 

Core inflation, which excludes food and energy inflation, advanced 0.3% from the previous month and gained 3.6% from a year ago.

Thursday's producer price inflation report follows Wednesday's hotter-than-expected consumer price inflation report, confirming that the Federal Reserve is not likely to lower interest rates anytime soon. 

Moreover, inflation is likely to remain elevated as the Trump administration doubles down on imposing more import taxes, or tariffs, on shipments from key trading partners in Europe, Asia, and North America.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,059.56, the Nasdaq Composite edged up 0.3% to 19,710.78, and the Russell 2000 index was up 0.5% to 2,267.31.

The yield on 2-year Treasury notes edged lower to 4.36%, 10-year Treasury notes decreased to 4.56%, and 30-year Treasury bonds declined to 4.81%.

WTI crude oil decreased $0.71 to $70.65 a barrel, and natural gas prices edged higher by $0.13 to $3.69 a thermal unit.

Gold increased by $4.62 to $2,910.52 an ounce, and silver edged down by $0.24 to $32.03.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.19 to 107.78 and traded at a two-year high.

U.S. Stock Movers

Dutch Bros Inc. soared 31% to $85.10 after the coffee chain operator reported better-than-expected quarterly results, and the company's full-year outlook was ahead of expectations.

The Trade Desk plunged 32% to $83.60 after the digital advertising company estimated weaker-than-expected results in the current quarter. 

Reddit, Inc. declined 7.8% to $199.87 after the social media platform operator reported weaker-than-expected quarterly results. 

MGM Resorts soared 13.5% to $39.0 after the casino company reported a 1% decline in consolidated revenue in the fourth quarter, but results were ahead of market expectations. 

Wall Street Indexes Brave Higher and Look Beyond Inflation Reports Amid Positive Earnings

Benchmark indexes in New York edged higher as investors looked beyond two inflation reports in as many days.

The S&P 500 index gained 0.1%, and the Nasdaq Composite advanced 0.3%, and the yield on 10-year Treasury notes remained elevated. 

Producer price inflation in January slowed from December, but the level was still ahead of market estimates.

Producer inflation slowed to 0.4% in January from the upwardly revised 0.5% in December, the U.S. Bureau of Labor Statistics reported Thursday. 

On an annual basis, producer price inflation was unchanged at 3.5%, matching the upwardly revised rate in December. 

Core inflation, which excludes food and energy inflation, advanced 0.3% from the previous month and gained 3.6% from a year ago.

Thursday's producer price inflation report follows Wednesday's hotter-than-expected consumer price inflation report, confirming that the Federal Reserve is not likely to lower interest rates anytime soon. 

Moreover, inflation is likely to remain elevated as the Trump administration doubles down on imposing more import taxes, or tariffs, on shipments from key trading partners in Europe, Asia, and North America.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,059.56, the Nasdaq Composite edged up 0.3% to 19,710.78, and the Russell 2000 index was up 0.5% to 2,267.31.

The yield on 2-year Treasury notes edged lower to 4.36%, 10-year Treasury notes decreased to 4.56%, and 30-year Treasury bonds declined to 4.81%.

WTI crude oil decreased $0.71 to $70.65 a barrel, and natural gas prices edged higher by $0.13 to $3.69 a thermal unit.

Gold increased by $4.62 to $2,910.52 an ounce, and silver edged down by $0.24 to $32.03.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.19 to 107.78 and traded at a two-year high.

U.S. Stock Movers

Dutch Bros Inc. soared 31% to $85.10 after the coffee chain operator reported better-than-expected quarterly results, and the company's full-year outlook was ahead of expectations.

The Trade Desk plunged 32% to $83.60 after the digital advertising company estimated weaker-than-expected results in the current quarter. 

Reddit, Inc. declined 7.8% to $199.87 after the social media platform operator reported weaker-than-expected quarterly results. 

MGM Resorts soared 13.5% to $39.0 after the casino company reported a 1% decline in consolidated revenue in the fourth quarter, but results were ahead of market expectations. 

U.S. Movers: Cisco Systems, Deere & Company, HubSpot, MGM Resorts

Cisco Systems Inc. gained 6.5% to $66.62 after the networking company reported a 9% revenue increase in the second quarter of fiscal 2025 ending in January.

Revenue jumped to $14 billion from $12.8 billion, net income dropped 8% to $2.42 billion from $2.63 billion, and earnings per diluted share fell 6% to 61 cents from 65 cents a year ago.

The company proposed to pay a quarterly dividend of 41 cents per share on April 23 to stockholders on record as of April 3.

In addition, Cisco approved a $15 billion increase to the authorization of its stock repurchase program, with a total remaining amount of $17 billion.

During the second quarter, the company acquired Deeper Insights AI Ltd., a privately held AI services company.

Looking into the fiscal third quarter, Cisco estimated revenue between $13.9 billion and $14.1 billion, compared to $12.7 billion a year ago, and GAAP earnings per share between 57 cents and 61 cents, compared to 46 cents a year earlier.

For the full year 2025, the company guided revenue between $56.0 billion and $56.5 billion, compared to $53.8 billion a year ago, and GAAP earnings per share between $2.40 and $2.52, compared to $2.54 a year earlier.

Deere & Company dropped 4.7% to $454 after the agricultural machinery manufacturer reported lower-than-expected earnings in the first quarter of 2025 ending on January 26.

Revenue declined 30% to $8.51 billion from $12.18 billion, net income plunged 50% to $869 million from $1.75 billion, and earnings per diluted share dropped to $3.19 from $6.23 a year ago.

For fiscal 2025, the company estimated net income between $5.0 billion to $5.5 billion, compared to $7.1 billion a year ago.

HubSpot Inc. surged 5.7% to $830.57 after the software company reported a 20% sales increase in the fourth quarter ending in December.

Revenue increased to $703.17 million from $581.91 million, net income swung to a profit of $4.93 million from a loss of $12.41 million, and earnings per diluted share rose to 9 cents from a loss of 25 cents a year ago.

For the first quarter of 2025, the company estimated revenue between $697.0 million and $699.0 million, up 13% from the same period in 2024, and non-GAAP earnings per share between $1.74 and $1.76, compared to diluted $1.68 a year ago.

Non-GAAP operating income is expected to be between $98.0 million and $99.0 million, representing a 14% operating profit margin.

For fiscal year 2025, revenue is guided between $2.98 billion and $2.99 billion, up 14% year over year, and non-GAAP earnings per share between $9.11 and $9.19, compared to diluted $8.12 a year ago.

Non-GAAP operating income is expected to be between $543.0 million and $547.0 million, representing an 18% operating profit margin.

MGM Resorts International gained 9.2% to $37.53 after the hospitality, sports, and entertainment company said revenue declined in the fourth quarter ending in December, despite the company’s strong annual performance in China.

Consolidated revenue decreased 1% to $4.3 billion, net income dropped to $157 million from $313 million, and earnings per diluted share fell to 52 cents from 92 cents a year ago.

While revenue in the Las Vegas Strip resorts declined in 2024, MGM China performed better, with an adjusted EBITDA rising to $1.09 billion from $866.89 million a year earlier.

The company repurchased over 33 million shares in 2024, reducing shares outstanding by more than 40% since 2021.

During the fourth quarter, MGM repurchased approximately 3 million shares for $121 million, and the remaining availability under the November 2023 repurchase plan was $826 million as of December 31, 2024.

U.S. Movers: Cisco Systems, HubSpot, MGM Resorts

Cisco Systems Inc. gained 6.5% to $66.62 after the networking company reported a 9% revenue increase in the second quarter of fiscal 2025 ending in January.

Revenue jumped to $14 billion from $12.8 billion, net income dropped 8% to $2.42 billion from $2.63 billion, and earnings per diluted share fell 6% to 61 cents from 65 cents a year ago.

The company proposed to pay a quarterly dividend of 41 cents per share on April 23 to stockholders on record as of April 3.

In addition, Cisco approved a $15 billion increase to the authorization of its stock repurchase program, with a total remaining amount of $17 billion.

During the second quarter, the company acquired Deeper Insights AI Ltd., a privately held AI services company.

Looking into the fiscal third quarter, Cisco estimated revenue between $13.9 billion and $14.1 billion, compared to $12.7 billion a year ago, and GAAP earnings per share between 57 cents and 61 cents, compared to 46 cents a year earlier.

For the full year 2025, the company guided revenue between $56.0 billion and $56.5 billion, compared to $53.8 billion a year ago, and GAAP earnings per share between $2.40 and $2.52, compared to $2.54 a year earlier.

HubSpot Inc. surged 5.7% to $830.57 after the software company reported a 20% sales increase in the fourth quarter ending in December.

Revenue increased to $703.17 million from $581.91 million, net income swung to a profit of $4.93 million from a loss of $12.41 million, and earnings per diluted share rose to 9 cents from a loss of 25 cents a year ago.

For the first quarter of 2025, the company estimated revenue between $697.0 million and $699.0 million, up 13% from the same period in 2024, and non-GAAP earnings per share between $1.74 and $1.76, compared to diluted $1.68 a year ago.

Non-GAAP operating income is expected to be between $98.0 million and $99.0 million, representing a 14% operating profit margin.

For fiscal year 2025, revenue is guided between $2.98 billion and $2.99 billion, up 14% year over year, and non-GAAP earnings per share between $9.11 and $9.19, compared to diluted $8.12 a year ago.

Non-GAAP operating income is expected to be between $543.0 million and $547.0 million, representing an 18% operating profit margin.

MGM Resorts International gained 9.2% to $37.53 after the hospitality, sports, and entertainment company said revenue declined in the fourth quarter ending in December, despite the company’s strong annual performance in China.

Consolidated revenue decreased 1% to $4.3 billion, net income dropped to $157 million from $313 million, and earnings per diluted share fell to 52 cents from 92 cents a year ago.

While revenue in the Las Vegas Strip resorts declined in 2024, MGM China performed better, with an adjusted EBITDA rising to $1.09 billion from $866.89 million a year earlier.

The company repurchased over 33 million shares in 2024, reducing shares outstanding by more than 40% since 2021.

During the fourth quarter, MGM repurchased approximately 3 million shares for $121 million, and the remaining availability under the November 2023 repurchase plan was $826 million as of December 31, 2024.

Europe Movers: Barclays, Essilor Luxottica, Heineken, Michelin, Nestle, Unilever

Eurozone industrial output fell at a faster pace in December. The UK economy unexpectedly expanded in the fourth quarter. 

Germany's consumer price inflation eased in January.

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17.

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Europe Stock Movers

Heineken NV jumped 14.1% to €77.54 after the Dutch brewing company reported a 7.3% increase in net income and announced a two-year stock repurchase plan.

The alcoholic beverage company said net profit advanced 7.3% to €2.7 billion, driven by a 1.6% increase in beer sales volume.

The company said it plans to repurchase its own stock worth €1.5 billion over the next two years.

Revenue in the fourth quarter declined to €7.47 billion from €7.78 billion a year ago, impacted by 3.1% lower sales in Europe.

Full-year 2024 revenue dropped to €35.95 billion from €36.37 billion, profit fell to €1.16 billion from €2.40 billion, and earnings per diluted share decreased to €1.74 from €4.09 a year ago.

Essilor Luxottica SA eased 0.4% to €276.00 after the largest retailer of eyeglasses reported a 4.4% increase in revenue for the fiscal year 2024 ending in December.

Revenue climbed to €26.51 billion from €25.39 billion, net profit increased to €2.49 billion from €2.43 billion, and earnings per diluted share jumped to €5.13 from €5.08 a year ago.

EssilorLuxottica estimated annual revenue growth at constant currencies between €27 billion and €28 billion through to 2026, and operating profit between 19% and 20% as a percentage of revenue.

The company purchased almost 2.5 million shares during 2024, and an additional 4 million shares are set to be purchased by October 29.

As of December 31, a total of 1,480,214 shares were purchased for an average price of €212.22 per share.

Last year, the company agreed to acquire an 80% stake in Germany-based Heidelberg Engineering, a provider of diagnostic solutions, digital surgical technologies, and healthcare IT for clinical ophthalmology. 

Michelin traded flat at €16.10 after the tire manufacturer reported lower sales in fiscal year 2024.

Revenue declined to €27.19 billion from €28.34 billion, net income dropped to €1.89 billion from €1.98 billion, and earnings per share fell to €2.65 from €2.77 a year ago.

The company paid dividends of €1.38 per share, compared to €1.35 per share a year earlier.

In the original equipment segment, global demand ended 2024 down 2%, with a 7% decline in Europe, a 2% decline in North and Central America, and a 3% increase in China.

Demand in Asia, excluding China and including Japan and South Korea, also weakened over the year, declining by 8%.

Michelin was selected as a supplier to equip the Ferrari F80, and the company renewed its partnership with Porsche to support Indonesian natural rubber farmers.

Nestle S.A. traded flat at CHF 78.78 after the chocolate and food maker reported a decline in revenue and earnings in fiscal year 2024.

Revenue declined 1.8% to CHF 91.35 billion from CHF 92.99 billion, net profit fell 2.6% to CHF 10.88 billion from CHF 11.21 billion, and basic earnings per share dropped 1% to CHF 4.19 from CHF 4.23 a year ago.

The company’s share buyback program contributed 1.1% to the underlying earnings per share change, net of finance costs.

Nestlé doesn’t plan to initiate a new share buyback program in 2025.

The company proposed a dividend of CHF 3.05 per share, an increase of 5 centimes, payable on April 24 to holders on record as of April 17.

Barclays Bank Plc. gained 0.6% to 309.65 pence after the British bank reported a 24% increase in total income for the fourth quarter ending in December.

Total income jumped to £6.96 billion from £5.59 billion, profit before tax surged to £1.66 billion from £110 million, and basic earnings per share rose to 6.5 pence from a loss of 0.7 pence a year ago.

For the full year 2024, total income increased to £26.79 billion from £25.38 billion, profit before tax increased to £8.11 billion from £6.56 billion, and earnings per diluted share rose to 34.8 pence from 26.9 pence a year ago.

Barclays plans to return at least £10 billion of capital to shareholders between 2024 and 2026 through dividends and share buybacks, as dividends are payable semi-annually.

Unilever Plc. eased 0.15% to 4,744 pence after the consumer goods company reported a 1.9% increase in sales in fiscal 2024 and signaled spinning off its ice cream business.

Sales increased 1.9% to €60.76 billion from €59.60 billion, net profit declined 10.8% to €6.37 billion from €7.14 billion, and earnings per diluted share fell 10.6% to €2.29 from €2.56 a year ago.

The company proposed to pay quarterly dividends on March 28, June 13, September 12, and December 5 to shareholders on record as of February 28, May 16, August 15, and November 7, respectively.

Europe Movers: Barclays, Essilor Luxottica, Heineken, Michelin, Nestle, Unilever

Eurozone industrial output fell at a faster pace in December. The UK economy unexpectedly expanded in the fourth quarter. 

Germany's consumer price inflation eased in January.

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17.

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Europe Stock Movers

Heineken NV jumped 14.1% to €77.54 after the Dutch brewing company reported a 7.3% increase in net income and announced a two-year stock repurchase plan.

The alcoholic beverage company said net profit advanced 7.3% to €2.7 billion, driven by a 1.6% increase in beer sales volume.

The company said it plans to repurchase its own stock worth €1.5 billion over the next two years.

Revenue in the fourth quarter declined to €7.47 billion from €7.78 billion a year ago, impacted by 3.1% lower sales in Europe.

Full-year 2024 revenue dropped to €35.95 billion from €36.37 billion, profit fell to €1.16 billion from €2.40 billion, and earnings per diluted share decreased to €1.74 from €4.09 a year ago.

Essilor Luxottica SA eased 0.4% to €276.00 after the largest retailer of eyeglasses reported a 4.4% increase in revenue for the fiscal year 2024 ending in December.

Revenue climbed to €26.51 billion from €25.39 billion, net profit increased to €2.49 billion from €2.43 billion, and earnings per diluted share jumped to €5.13 from €5.08 a year ago.

EssilorLuxottica estimated annual revenue growth at constant currencies between €27 billion and €28 billion through to 2026, and operating profit between 19% and 20% as a percentage of revenue.

The company purchased almost 2.5 million shares during 2024, and an additional 4 million shares are set to be purchased by October 29.

As of December 31, a total of 1,480,214 shares were purchased for an average price of €212.22 per share.

Last year, the company agreed to acquire an 80% stake in Germany-based Heidelberg Engineering, a provider of diagnostic solutions, digital surgical technologies, and healthcare IT for clinical ophthalmology. 

Michelin traded flat at €16.10 after the tire manufacturer reported lower sales in fiscal year 2024.

Revenue declined to €27.19 billion from €28.34 billion, net income dropped to €1.89 billion from €1.98 billion, and earnings per share fell to €2.65 from €2.77 a year ago.

The company paid dividends of €1.38 per share, compared to €1.35 per share a year earlier.

In the original equipment segment, global demand ended 2024 down 2%, with a 7% decline in Europe, a 2% decline in North and Central America, and a 3% increase in China.

Demand in Asia, excluding China and including Japan and South Korea, also weakened over the year, declining by 8%.

Michelin was selected as a supplier to equip the Ferrari F80, and the company renewed its partnership with Porsche to support Indonesian natural rubber farmers.

Nestle S.A. traded flat at CHF 78.78 after the chocolate and food maker reported a decline in revenue and earnings in fiscal year 2024.

Revenue declined 1.8% to CHF 91.35 billion from CHF 92.99 billion, net profit fell 2.6% to CHF 10.88 billion from CHF 11.21 billion, and basic earnings per share dropped 1% to CHF 4.19 from CHF 4.23 a year ago.

The company’s share buyback program contributed 1.1% to the underlying earnings per share change, net of finance costs.

Nestlé doesn’t plan to initiate a new share buyback program in 2025.

The company proposed a dividend of CHF 3.05 per share, an increase of 5 centimes, payable on April 24 to holders on record as of April 17.

Barclays Bank Plc. gained 0.6% to 309.65 pence after the British bank reported a 24% increase in total income for the fourth quarter ending in December.

Total income jumped to £6.96 billion from £5.59 billion, profit before tax surged to £1.66 billion from £110 million, and basic earnings per share rose to 6.5 pence from a loss of 0.7 pence a year ago.

For the full year 2024, total income increased to £26.79 billion from £25.38 billion, profit before tax increased to £8.11 billion from £6.56 billion, and earnings per diluted share rose to 34.8 pence from 26.9 pence a year ago.

Barclays plans to return at least £10 billion of capital to shareholders between 2024 and 2026 through dividends and share buybacks, as dividends are payable semi-annually.

Unilever Plc. eased 0.15% to 4,744 pence after the consumer goods company reported a 1.9% increase in sales in fiscal 2024 and signaled spinning off its ice cream business.

Sales increased 1.9% to €60.76 billion from €59.60 billion, net profit declined 10.8% to €6.37 billion from €7.14 billion, and earnings per diluted share fell 10.6% to €2.29 from €2.56 a year ago.

The company proposed to pay quarterly dividends on March 28, June 13, September 12, and December 5 to shareholders on record as of February 28, May 16, August 15, and November 7, respectively.

European Markets Advanced, UK Q4 GDP Expanded, Eurozone Industrial Output Shrank

Stock market indexes in Europe advanced, and investors reviewed the latest economic updates in the region. 

Benchmark indexes in Frankfurt traded at a new high, but market indexes in London fell after the release of GDP figures. 

Germany's consumer price inflation in January eased to an annual pace of 2.3% from an eleven-month high of 2.6% in December, according to the second estimate released by the Federal Statistical Office, or Destatis. 

Eurozone industrial output fell at an annual pace of 2.0% in December, following a revised 1.8% contraction in the previous month, Eurostat said in an update on Thursday. 

The UK economy unexpectedly expanded in the fourth quarter, driven by increases in activities in construction and services, the Office for National Statistics said Thursday. 

Gross domestic product increased 0.1% from the third quarter, when the economy was flat. 

On an annual basis, the UK economy expanded at a pace of 1.4%, compared to a 1.0% increase in the third quarter.

Europe Indexes and Yields

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17. 

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Brent crude decreased $0.50 to $74.69 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Orange SA increased 2.7% to €11.04 after the French telecom carrier met targets it set for 2024. 

Delivery Hero SE jumped 8.3% to €28.43 after the German food delivery company's revenue increase in the fourth quarter surpassed market expectations. 

British American Tobacco declined 7.2% to 3,151.47 pence after the tobacco company reported mixed results. 

Barclays PLC decreased 5.4% to 291.10 pence, despite the British bank posting higher profit in the fiscal year 2024 and launching a £1 billion stock buyback.

European Markets Advanced, UK Q4 GDP Expanded, Eurozone Industrial Output Shrank

Stock market indexes in Europe advanced, and investors reviewed the latest economic updates in the region. 

Benchmark indexes in Frankfurt traded at a new high, but market indexes in London fell after the release of GDP figures. 

Germany's consumer price inflation in January eased to an annual pace of 2.3% from an eleven-month high of 2.6% in December, according to the second estimate released by the Federal Statistical Office, or Destatis. 

Eurozone industrial output fell at an annual pace of 2.0% in December, following a revised 1.8% contraction in the previous month, Eurostat said in an update on Thursday. 

The UK economy unexpectedly expanded in the fourth quarter, driven by increases in activities in construction and services, the Office for National Statistics said Thursday. 

Gross domestic product increased 0.1% from the third quarter, when the economy was flat. 

On an annual basis, the UK economy expanded at a pace of 1.4%, compared to a 1.0% increase in the third quarter.

Europe Indexes and Yields

The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17. 

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.

The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.

Brent crude decreased $0.50 to $74.69 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Orange SA increased 2.7% to €11.04 after the French telecom carrier met targets it set for 2024. 

Delivery Hero SE jumped 8.3% to €28.43 after the German food delivery company's revenue increase in the fourth quarter surpassed market expectations. 

British American Tobacco declined 7.2% to 3,151.47 pence after the tobacco company reported mixed results. 

Barclays PLC decreased 5.4% to 291.10 pence, despite the British bank posting higher profit in the fiscal year 2024 and launching a £1 billion stock buyback.