Paris CAC 40 stocks index hits record above 7,500
The Paris CAC 40 stocks index of leading French companies hit a record high above 7,500 points at the start of trading Friday, extending its recent rally to all-time highs. After briefly breaching the landmark, the CAC eased back to 7,495.29 points, still a gain of 0.2 percent compared with Thursday’s close. Frankfurt and London also rose at the open. Paris has won strength in recent sessions on easing inflation and recession concerns — and thanks to some strong earnings, including Thursday from luxury group LVMH. London’s benchmark FTSE 100 index struck a record above 8,000 points in February. It traded Friday at 7,855.10 points, a gain of 0.2 percent on Thursday’s closing level. Frankfurt’s DAX index was up 0.3 percent at 15,775.52.
Japan shares higher at close of trade
Japan equities were higher at the close on Friday, as gains in the Transportation Equipment, Trading and Steel sectors propelled shares higher. At the close in Tokyo, the Nikkei 225 added 1.20percent to hit a new 1-month high. The biggest gainers of the session on the Nikkei 225 were Fast Retailing Co., Ltd., which rose 8.49 percent or 2,570.00 points to trade at 32,840.00 at the close. Itochu Corp. added 4.52 percent or 196.00 points to end at 4,531.00 and Mitsui & Co., Ltd. was up 3.23 percent or 134.00 points to 4,288.00 in late trade. Advancing stocks outnumbered falling ones by 2272 to 1294 and 264 ended unchanged on the Tokyo Stock Exchange. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 0.77 percent to 16.77.
Sensex, Nifty muted as it stocks plunge on US recession fears
Benchmark stock market indices began the trading session on a weak note on Thursday after a plunge in IT stocks, triggered by fears of a “mild recession” in the US. The S&P BSE Sensex was trading 57.93 points lower at 60,334.84 at around 9:55 am, while the NSE Nifty 50 was down 0.12 percent at 17,790.65. The broader markets also showed signs of weakness, in line with the benchmark indices.
DAX index surges to its highest level in 12 months
DAX Index is once again surging after a major pullback in March 2023. The benchmark index is currently 8.6 percent up from its March lows and has hit fresh yearly highs. This also means the highest level for the German blue-chip index in the past 12 months. On Wednesday, DAX Index gained 54 points and was up 0.34 percent till press time. FTSE 100 index also remained green on Wednesday and surged to its highest level in four weeks. The positive price action in European equities comes on a day when markets await the US inflation data. DAX tracks the stocks of 40 blue-chip German companies which trade on the Frankfurt Stock Exchange. The recent surge in the total return index can be attributed to the positive price action in the stocks of European mining companies.
London’s FTSE 100 edges higher
Britain’s FTSE 100 inched up on Friday and was set for a fourth straight weekly gain, boosted by shares of pharmaceuticals and consumer staple firms, while miners tracked copper prices higher. The blue-chip FTSE 100 edged up 0.2 percent, while the mid-cap FTSE 250 added 0.9 percent as of 0816 GMT. Healthcare stocks added 0.9 percent, with Dechra, jumping 36.2 percent after the British veterinary pharmaceuticals maker said it had entered into talks with private equity group EQT for a possible offer in a 4.63 billion pounds ($5.80 billion) all-cash deal.
S&P 500 rides tech rally higher
The S&P 500 jumped Thursday, as big tech climbed as Treasury yields stuttered on data showing cooling inflation and easing labor market tightness that could encourage less aggressive Federal Reserve policy action. The S&P 500 rose 1.3 percent, the Dow Jones Industrial Average added 1 percent, or 350 points, and the Nasdaq rose 2 percent. Big tech was led by higher by Alphabet, up 2 percent, and Apple, up 3 percent, as Treasury yields slipped on data showing that wholesale inflation cooled more than expected. The producer price index for final demand unexpectedly fell 0.5 percent last month, compared with economists’ forecasts for a 0.1 percent rise. In the 12 months through November, the PPI rose 2.7 percent, well below the 3 percent forecast. As well as easing inflation pressures, there were signs that the hot labor market also supported hopes that Federal Reserve may adopt a less aggressive monetary policy stance.
Taiwan shares close slightly up as TSMC incurs further losses
Shares in Taiwan closed slightly higher Wednesday, as Taiwan Semiconductor Manufacturing Co.’s negative performance eroded gains made by select old economy stocks. The Taiex, the Taiwan Stock Exchange’s weighted index, ended up 19.09 points, or 0.12 percent, at 15,932.97 after moving between 15,867.02 and 15,944.32. Turnover totaled NT$228.97 billion (US$7.5 billion). The market opened up only 0.27 points following a lackluster night on the U.S. markets, where the Dow Jones Industrial Average rose 0.29 percent and the tech-heavy Nasdaq index lost 0.43 percent overnight ahead of the release of the March U.S. consumer price index (CPI), dealers said. U.S. inflation concerns kept local market sentiment cautious, with the rest of the trading session becoming a tug-of-war between TSMC and gaining nontech stocks.
Saudi Arabia stocks higher at close of trade
Saudi Arabia stocks were higher after the close on Thursday, as gains in the Media & Publishing, Cement and Hotels & Tourism sectors led shares higher. At the close in Saudi Arabia, the Tadawul All Share gained 0.27 percent. The best performers of the session on the Tadawul All Share were Al Kathiri Holding Co, which rose 9.80 percent or 0.34 points to trade at 3.81 at the close. Meanwhile, Anaam International Holding Group added 6.18 percent or 1.60 points to end at 27.50 and Al Baha Investment and Development Company SJSC was up 5.70 percent or 0.88 points to 16.32 in late trade.