Market Update
European Markets Waver Around Flatline, UK Jobless Rate Held Steady
Bridgette Randall
18 Feb, 2025
London
Stock market indexes across Europe wavered around the flatline as investors reviewed another batch of earnings and bid up defense stocks.
Benchmark indexes in Paris, Frankfurt, and London edged up, and defense sector stocks advanced for the second consecutive day.
Defense stocks were in focus amid growing chatter in diplomatic circles in the region that the European Union member nations should pay for a larger share of security expenses.
Saab AB, BAE Systems, Dassault Aviation, ThyssenKrupp, MTU Aero Engines, Rheinmetall, Safran, and Airbus jumped between 1% and 3% for the second consecutive session.
Despite market jitters over the last three weeks, benchmark indexes in Germany and in the UK have hovered near record highs amid rate cut optimism and earnings outlook for leading export-driven companies.
On the economic front, France's consumer price inflation rose to a five-month high of 1.7% in January from 1.3% in December, according to France's statistical office, INSEE.
The jobless rate in the UK in the fourth quarter held steady at 4.4%, according to the latest data released by the Office for National Statistics.
Average weekly earnings excluding bonuses rose 5.9% from a year ago, driven by a 6.2% rise in the private sector.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 22,769.19, the CAC-40 index edged lower 0.3% to 8,165.08, and the FTSE 100 index declined by 0.02% to 8,765.87.
The yield on 10-year German bonds inched higher to 2.50%, French bonds increased to 3.18%, the UK gilts moved up to 4.57%, and Italian bonds edged higher to 3.55%.
The euro decreased to $1.04; the British pound was lower at $1.26; and the U.S. dollar was lower and traded at 90.05 Swiss cents.
Brent crude increased $0.44 to $75.65 a barrel, and the Dutch TTF natural gas was lower by €0.32 to €47.36 per MWh.
Europe Stock Movers
Renault SA edged up 0.2% to €52.48 after the French automaker signed a framework agreement with the China-based Geely Automobile to develop a market for electric vehicles in Brazil.
European and Asian electric vehicle makers are looking to alternative markets amid still trade barriers and import tax of more than 100% in the U.S.
Capgemini SE plunged 9.9% to €168.40 after the information technology services provider reported a 2% decline in annual constant currency sales.
Antofagasta plc jumped 2.4% to 1,880.50 pence after the Chile-based mining company said 2024 revenue increased 4% and operating income margin expanded to 52%.
BHP Group Ltd. declined 0.3% to 2,084.0 pence after the Australia-based mining company reported a decline in interim profit.
CTS Eventim AG advanced 4.5% to €105.0 after the company said its 2024 revenue soared 19%, driven by gains in its ticketing and live event segments.
European Markets Waver Around Flatline, UK Jobless Rate H
Bridgette Randall
18 Feb, 2025
London
Stock market indexes across Europe wavered around the flatline as investors reviewed another batch of earnings and bid up defense stocks.
Benchmark indexes in Paris, Frankfurt, and London edged up, and defense sector stocks advanced for the second consecutive day.
Defense stocks were in focus amid growing chatter in diplomatic circles in the region that the European Union member nations should pay for a larger share of security expenses.
Saab AB, BAE Systems, Dassault Aviation, ThyssenKrupp, MTU Aero Engines, Rheinmetall, Safran, and Airbus jumped between 1% and 3% for the second consecutive session.
Despite market jitters over the last three weeks, benchmark indexes in Germany and in the UK have hovered near record highs amid rate cut optimism and earnings outlook for leading export-driven companies.
On the economic front, France's consumer price inflation rose to a five-month high of 1.7% in January from 1.3% in December, according to France's statistical office, INSEE.
The jobless rate in the UK in the fourth quarter held steady at 4.4%, according to the latest data released by the Office for National Statistics.
Average weekly earnings excluding bonuses rose 5.9% from a year ago, driven by a 6.2% rise in the private sector.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 22,769.19, the CAC-40 index edged lower 0.3% to 8,165.08, and the FTSE 100 index declined by 0.02% to 8,765.87.
The yield on 10-year German bonds inched higher to 2.50%, French bonds increased to 3.18%, the UK gilts moved up to 4.57%, and Italian bonds edged higher to 3.55%.
The euro decreased to $1.04; the British pound was lower at $1.26; and the U.S. dollar was lower and traded at 90.05 Swiss cents.
Brent crude increased $0.44 to $75.65 a barrel, and the Dutch TTF natural gas was lower by €0.32 to €47.36 per MWh.
Europe Stock Movers
Renault SA edged up 0.2% to €52.48 after the French automaker signed a framework agreement with the China-based Geely Automobile to develop a market for electric vehicles in Brazil.
European and Asian electric vehicle makers are looking to alternative markets amid still trade barriers and import tax of more than 100% in the U.S.
Capgemini SE plunged 9.9% to €168.40 after the information technology services provider reported a 2% decline in annual constant currency sales.
Antofagasta plc jumped 2.4% to 1,880.50 pence after the Chile-based mining company said 2024 revenue increased 4% and operating income margin expanded to 52%.
BHP Group Ltd. declined 0.3% to 2,084.0 pence after the Australia-based mining company reported a decline in interim profit.
CTS Eventim AG advanced 4.5% to €105.0 after the company said its 2024 revenue soared 19%, driven by gains in its ticketing and live event segments.
Japan Indexes Trim Early Gains After Yen Rebounded Amid Rate Path Uncertainty
Akira Ito
18 Feb, 2025
Tokyo
Stock market indexes in Tokyo extended gains for the second consecutive session amid earnings optimism and overcoming the rally in the yen.
The Nikkei 225 stock average gained as much as 0.7%, and the broader TOPIX advanced 0.5%; however, benchmark indexes trimmed early morning gains.
The yen advanced 0.3% to 151.99 against the yen as currency traders speculated that the Bank of Japan is likely to continue its rate hike campaign following the next policy meeting on March 19.
Benchmark indexes advanced in January but managed to erase those gains in February, leaving the indexes nearly unchanged after trading for seven weeks in 2025.
Market sentiment has weakened because of the ongoing threats of U.S. tariffs on Japan-made vehicles starting April 2.
Moreover, Japanese automakers are under pressure amid rising competition from Chinese companies and Japan's lagging response to the shift in the market to electric vehicles.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 0.3% to 39,270.40, and the broader TOPIX edged higher 0.3% to 2,775.51.
Tech stocks were among the leading gainers in Tokyo trading, and financial stocks were also in focus.
Screen Holdings jumped 2.4% to ¥10,815.0, Advantest Corp. jumped 3.2% to ¥9,503.0, and Tokyo Electron gained 1.4% to ¥25,130.0.
Mitsubishi UFJ Financial Group advanced 2% to ¥2,022.0, and Sumitomo Mitsui Financial Group added 0.8% to ¥3,909.0.
Kawasaki Heavy Industries advanced 4.5% to ¥7,905.0, Mitsubishi Heavy Industries gained 2.7% to ¥2,173.0, and Kanadevia Corp., formerly known as Hitachi Zosen, jumped 7.6% to ¥976.0.
Bridgestone Corp. decreased 2.8% to ¥5,874.0, despite the tiremaker announcing a $2 billion stock repurchase plan.
Consolidated revenue in the financial year 2024 ending in December increased 2.7% to 4.4 trillion yen from 4.3 trillion yen, and net income attributable to the parent company decreased 12.8% to 285.0 billion yen from 326.9 billion yen.
The company announced a cash dividend of 210 yen, an increase from 200 yen in 2023, and projected a cash dividend of 230 yen per share in the fiscal year 2025.
The company estimated fiscal 2025 consolidated revenue from continuing operations to decrease 2.3% to 4.33 trillion yen and adjusted operating income to advance 4.5% to 505.0 billion yen.
Japan Indexes Trim Early Gains After Yen Rebounded Amid Rate Path Uncertainty
Akira Ito
18 Feb, 2025
Tokyo
Stock market indexes in Tokyo extended gains for the second consecutive session amid earnings optimism and overcoming the rally in the yen.
The Nikkei 225 stock average gained as much as 0.7%, and the broader TOPIX advanced 0.5%; however, benchmark indexes trimmed early morning gains.
The yen advanced 0.3% to 151.99 against the yen as currency traders speculated that the Bank of Japan is likely to continue its rate hike campaign following the next policy meeting on March 19.
Benchmark indexes advanced in January but managed to erase those gains in February, leaving the indexes nearly unchanged after trading for seven weeks in 2025.
Market sentiment has weakened because of the ongoing threats of U.S. tariffs on Japan-made vehicles starting April 2.
Moreover, Japanese automakers are under pressure amid rising competition from Chinese companies and Japan's lagging response to the shift in the market to electric vehicles.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 0.3% to 39,270.40, and the broader TOPIX edged higher 0.3% to 2,775.51.
Tech stocks were among the leading gainers in Tokyo trading, and financial stocks were also in focus.
Screen Holdings jumped 2.4% to ¥10,815.0, Advantest Corp. jumped 3.2% to ¥9,503.0, and Tokyo Electron gained 1.4% to ¥25,130.0.
Mitsubishi UFJ Financial Group advanced 2% to ¥2,022.0, and Sumitomo Mitsui Financial Group added 0.8% to ¥3,909.0.
Kawasaki Heavy Industries advanced 4.5% to ¥7,905.0, Mitsubishi Heavy Industries gained 2.7% to ¥2,173.0, and Kanadevia Corp., formerly known as Hitachi Zosen, jumped 7.6% to ¥976.0.
Bridgestone Corp. decreased 2.8% to ¥5,874.0, despite the tiremaker announcing a $2 billion stock repurchase plan.
Consolidated revenue in the financial year 2024 ending in December increased 2.7% to 4.4 trillion yen from 4.3 trillion yen, and net income attributable to the parent company decreased 12.8% to 285.0 billion yen from 326.9 billion yen.
The company announced a cash dividend of 210 yen, an increase from 200 yen in 2023, and projected a cash dividend of 230 yen per share in the fiscal year 2025.
The company estimated fiscal 2025 consolidated revenue from continuing operations to decrease 2.3% to 4.33 trillion yen and adjusted operating income to advance 4.5% to 505.0 billion yen.
China Tech Rally Pushes Hong Kong Tech Index to Bull Market
Li Chen
18 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong erased morning gains, and investors questioned the recent surge in indexes.
The Hang Seng index gained more than 1%, and the mainland-focused CSI 300 index extended losses of the session in the final hours of trading.
China's leaders stepped up verbal support of the private sector after the success of the affordable artificial intelligence chatbot Deep Seek.
China's leaders offered to relax supervision and encourage faster development of the advanced technologies after cracking down on Alibaba Group and forcing the company to cancel the public offering of its unit, Ant Group.
The reversal in the government sentiment comes after five years of a tight-fisted approach with the private sector, starting with the crackdown on tutoring service providers and non-bank financial services providers.
In the year so far, as of the close of Tuesday, the Hang Seng index advanced 16.1%, and the Hang Seng Tech index jumped 21.5% from the low in January, signaling the bull market in leading technology companies.
China Indexes and Stocks
The Hang Seng index advanced 1.1% to 22,873.32 and the mainland-focused CSI 300 index inched lower 0.3% to 3,936.26.
Alibaba Group jumped 1.8% to HK $124.40, Tencent Holding jumped 1% to HK $498.20, JD.com declined 1.3% to HK $155.10, Meituan gained 1.1% to HK $170.80.
BYD gained 2.2% to HK $363.20, Geely Automobile Holdings advanced 3.2% to HK $17.56, Xiaomi Corp. jumped 4.5% to HK $47.25.
China Tech Rally Pushes Hong Kong Tech Index to Bull Market
Li Chen
18 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong erased morning gains, and investors questioned the recent surge in indexes.
The Hang Seng index gained more than 1%, and the mainland-focused CSI 300 index extended losses of the session in the final hours of trading.
China's leaders stepped up verbal support of the private sector after the success of the affordable artificial intelligence chatbot Deep Seek.
China's leaders offered to relax supervision and encourage faster development of the advanced technologies after cracking down on Alibaba Group and forcing the company to cancel the public offering of its unit, Ant Group.
The reversal in the government sentiment comes after five years of a tight-fisted approach with the private sector, starting with the crackdown on tutoring service providers and non-bank financial services providers.
In the year so far, as of the close of Tuesday, the Hang Seng index advanced 16.1%, and the Hang Seng Tech index jumped 21.5% from the low in January, signaling the bull market in leading technology companies.
China Indexes and Stocks
The Hang Seng index advanced 1.1% to 22,873.32 and the mainland-focused CSI 300 index inched lower 0.3% to 3,936.26.
Alibaba Group jumped 1.8% to HK $124.40, Tencent Holding jumped 1% to HK $498.20, JD.com declined 1.3% to HK $155.10, Meituan gained 1.1% to HK $170.80.
BYD gained 2.2% to HK $363.20, Geely Automobile Holdings advanced 3.2% to HK $17.56, Xiaomi Corp. jumped 4.5% to HK $47.25.
Europe Movers: Delivery Hero, Euronext, Tate &Lyle
Inga Muller
17 Feb, 2025
Frankfurt
Benchmark indexes in Europe jumped nearly 1%, driven by a surge in defense stocks in Europe.
The DAX index increased by 0.9% to 22,713.24, the CAC-40 index edged higher 0.04% to 8,181.49, and the FTSE 100 index increased by 0.2% to 8,753.54.
The yield on 10-year German bonds inched higher to 2.48%, French bonds increased to 3.17%, the UK gilts moved up to 4.59%, and Italian bonds edged higher to 3.55%.
Delivery Hero SE gained 2.4% to €30.30 after Germany’s online food ordering and delivery company reported fourth quarter and fiscal year 2024 results.
Revenue in 2024 increased 22% to €12.8 billion from €10.5 billion, and adjusted EBITDA swung to a loss of €750 million from a profit of €254 million a year ago.
Total segment revenue in the fourth quarter rose to €3.52 billion from €2.67 billion a year ago, supported by strong growth in Europe, the Middle East and North Africa, and the Americas.
In Asia, the gross merchandise volumes dropped 11.2% in the quarter and 7.7% in the full year.
For fiscal 2025, Delivery Hero estimated gross merchandise volumes to increase between 8% and 10%, total segment revenue to increase between 17% and 19%, and adjusted EBITDA between €975 million and €1.02 billion.
The company plans to buy back approximately €1.0 billion of convertible bonds due in 2025, 2026, and 2027.
Euronext NV jumped 2.2% to €118.30 after the European bourse operator reported revenue growth in the fourth quarter ending in December.
Revenue in fiscal 2024 increased 10.3% to €1.63 billion from €1.47 billion, net income climbed 14% to €682.5 million from €584.7 million, and earnings per diluted share rose 16.6% to €5.63 from €4.83 a year ago.
The company proposed a dividend of €292.8 million, an increase of 14% from 2023 and 50% of 2024 reported net income, for the shareholder approval at the annual general meeting scheduled on May 15.
Last year, Euronext announced a share repurchase program for a maximum amount of €300 million, effective through November 2025.
Revenue in the fourth quarter increased 11.1% to €415.8 million from €374.1 million, net income jumped 10.8% to €144.6 million from €130.6 million, and earnings per diluted share rose 12.1% to €1.39 from €1.24 a year ago.
Tate & Lyle Plc. dropped 2.2% to 577 pence after the British food ingredients provider lowered its 2025 revenue guidance.
For the year ending March 31, excluding CP Kelco, the company estimated revenue in constant currency in the mid-single-digit percent lower and for EBITDA growth to be towards the lower end of guidance between 4% and 7%.
For the three months ending in December, group revenue increased 14% to £423 million, supported by strong growth in the company’s sucralose segment.
Tate & Lyle completed its £215 million share buyback program and returned net proceeds from the sale of its remaining interest in Primient to shareholders.
On January 23, the company priced a multi-tranche debt offering of $300 million and €275 million in the private placement offering.
Europe Movers: Delivery Hero, Euronext, Tate &Lyle
Inga Muller
17 Feb, 2025
Frankfurt
Benchmark indexes in Europe jumped nearly 1%, driven by a surge in defense stocks in Europe.
The DAX index increased by 0.9% to 22,713.24, the CAC-40 index edged higher 0.04% to 8,181.49, and the FTSE 100 index increased by 0.2% to 8,753.54.
The yield on 10-year German bonds inched higher to 2.48%, French bonds increased to 3.17%, the UK gilts moved up to 4.59%, and Italian bonds edged higher to 3.55%.
Delivery Hero SE gained 2.4% to €30.30 after Germany’s online food ordering and delivery company reported fourth quarter and fiscal year 2024 results.
Revenue in 2024 increased 22% to €12.8 billion from €10.5 billion, and adjusted EBITDA swung to a loss of €750 million from a profit of €254 million a year ago.
Total segment revenue in the fourth quarter rose to €3.52 billion from €2.67 billion a year ago, supported by strong growth in Europe, the Middle East and North Africa, and the Americas.
In Asia, the gross merchandise volumes dropped 11.2% in the quarter and 7.7% in the full year.
For fiscal 2025, Delivery Hero estimated gross merchandise volumes to increase between 8% and 10%, total segment revenue to increase between 17% and 19%, and adjusted EBITDA between €975 million and €1.02 billion.
The company plans to buy back approximately €1.0 billion of convertible bonds due in 2025, 2026, and 2027.
Euronext NV jumped 2.2% to €118.30 after the European bourse operator reported revenue growth in the fourth quarter ending in December.
Revenue in fiscal 2024 increased 10.3% to €1.63 billion from €1.47 billion, net income climbed 14% to €682.5 million from €584.7 million, and earnings per diluted share rose 16.6% to €5.63 from €4.83 a year ago.
The company proposed a dividend of €292.8 million, an increase of 14% from 2023 and 50% of 2024 reported net income, for the shareholder approval at the annual general meeting scheduled on May 15.
Last year, Euronext announced a share repurchase program for a maximum amount of €300 million, effective through November 2025.
Revenue in the fourth quarter increased 11.1% to €415.8 million from €374.1 million, net income jumped 10.8% to €144.6 million from €130.6 million, and earnings per diluted share rose 12.1% to €1.39 from €1.24 a year ago.
Tate & Lyle Plc. dropped 2.2% to 577 pence after the British food ingredients provider lowered its 2025 revenue guidance.
For the year ending March 31, excluding CP Kelco, the company estimated revenue in constant currency in the mid-single-digit percent lower and for EBITDA growth to be towards the lower end of guidance between 4% and 7%.
For the three months ending in December, group revenue increased 14% to £423 million, supported by strong growth in the company’s sucralose segment.
Tate & Lyle completed its £215 million share buyback program and returned net proceeds from the sale of its remaining interest in Primient to shareholders.
On January 23, the company priced a multi-tranche debt offering of $300 million and €275 million in the private placement offering.
Rally In Defense Stocks Lifted European Markets by 1%
Bridgette Randall
17 Feb, 2025
London
Stock market indexes in Europe advanced, overlooking the brewing geopolitical tensions and uncertainty related to the U.S. economic and trade policies.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced as much as 0.8%, led by gains in defense stocks.
Rheinmetall AG, MTU Aero Engines, Thales SA, Airbus SA, Dassault Aviation, BAE Systems, and Safran jumped between 2% and 10% after European leaders gathered to discuss plans to increase the defense budget.
European governments are likely to revise their defense budgets in the months ahead as the U.S. pushes with peace talks with Russia and demands higher spending by NATO allies.
European leaders have lagged in meeting their commitments of defense spending at least between 2% and 3%, but the Trump administration is demanding that spending increase to as much as 5%.
Europe Indexes and Yields
The DAX index increased by 0.9% to 22,713.24, the CAC-40 index edged higher 0.04% to 8,181.49; and the FTSE 100 index increased by 0.2% to 8,753.54.
The yield on 10-year German bonds inched higher to 2.48%, French bonds increased to 3.17%, the UK gilts moved up to 4.59%, and Italian bonds edged higher to 3.55%.
The euro decreased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.17 Swiss cents.
Brent crude decreased $0.21 to $74.53 a barrel, and the Dutch TTF natural gas was lower by €0.79 to €50.05 per MWh.
Europe Stock Movers
Stocks in Germany advanced after the benchmark index soared as much as 1%, driven by hopes of higher government spending.
Siemens Energy, Munich Re, MTU Aero Engine, BMW, and Allianz advanced between 1% and 1.5%.
Rally In Defense Stocks Lifted European Markets by 1%
Bridgette Randall
17 Feb, 2025
London
Stock market indexes in Europe advanced, overlooking the brewing geopolitical tensions and uncertainty related to the U.S. economic and trade policies.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced as much as 0.8%, led by gains in defense stocks.
Rheinmetall AG, MTU Aero Engines, Thales SA, Airbus SA, Dassault Aviation, BAE Systems, and Safran jumped between 2% and 10% after European leaders gathered to discuss plans to increase the defense budget.
European governments are likely to revise their defense budgets in the months ahead as the U.S. pushes with peace talks with Russia and demands higher spending by NATO allies.
European leaders have lagged in meeting their commitments of defense spending at least between 2% and 3%, but the Trump administration is demanding that spending increase to as much as 5%.
Europe Indexes and Yields
The DAX index increased by 0.3% to 22,573.34, the CAC-40 index edged lower 0.1% to 8,169.18, and the FTSE 100 index increased by 0.1% to 8,741.79.
The yield on 10-year German bonds inched higher to 2.48%, French bonds increased to 3.18%, the UK gilts moved up to 4.58%, and Italian bonds edged higher to 3.58%.
The euro decreased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.03 Swiss cents.
Brent crude increased $0.24 to $75.98 a barrel, and the Dutch TTF natural gas was lower by €0.79 to €50.05 per MWh.
Europe Stock Movers
Stocks in Germany advanced after the benchmark index soared as much as 1%, driven by hopes of higher government spending.
Siemens Energy, Munich Re, MTU Aero Engine, BMW, and Allianz advanced between 1% and 1.5%.
Japan Indexes Edged Higher After GDP Growth Accelerated in Fourth Quarter
Akira Ito
17 Feb, 2025
Tokyo
Stock market indexes in Tokyo advanced, and the yen held stable as investors reviewed the latest GDP growth update.
The Nikkei 225 Stock Average increased 0.1%, and the broader index TOPIX advanced 0.3% amid a sustained rally in tech stocks.
Japan's fourth quarter GDP expanded 0.7% from the previous quarter, faster than the 0.4% increase in the third quarter, according to Japan's Cabinet Office.
The economy expanded for the third quarter in a row, after shrinking in the previous three quarters in a row.
On an annual basis, economic growth accelerated to 2.8% from the 1.7% pace in the previous quarter after government spending expanded and the private sector unexpectedly picked up.
Despite persistent food inflation, private consumption increased because of a rise in real wages.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.1% to 39,174.25, and the broader TOPIX advanced 0.3% to 2,766.90.
Technology stocks led gainers in Monday's trading as investors remained focused on artificial intelligence-linked stocks.
Tokyo Electron decreased 0.1% to ¥24,790.0, Advantest Corp. gained 1.3% to ¥9,209.0, and Disco Corp. jumped 3.5% to ¥47,060.0.
Automobile makers were in focus on the news that the U.S. presidential administration is looking to place additional tariffs on Japanese vehicles starting as early as April 2.
Toyota Motor decreased 1.1% to ¥2,773.50, Honda Motor declined 3.1% to ¥1,424.0, and Nissan Motor eased 0.4% to ¥424.0.
Marubeni Corp. increased 1.3% to ¥2,345.0, Itochu Corp. decreased 1.3% to ¥6,428.0, and Sumitomo Corp. declined 1.2% to ¥3,291.0.
Japan Indexes Edged Higher After GDP Growth Accelerated in Fourth Quarter
Akira Ito
17 Feb, 2025
Tokyo
Stock market indexes in Tokyo advanced, and the yen held stable as investors reviewed the latest GDP growth update.
The Nikkei 225 Stock Average increased 0.1%, and the broader index TOPIX advanced 0.3% amid a sustained rally in tech stocks.
Japan's fourth quarter GDP expanded 0.7% from the previous quarter, faster than the 0.4% increase in the third quarter, according to Japan's Cabinet Office.
The economy expanded for the third quarter in a row, after shrinking in the previous three quarters in a row.
On an annual basis, economic growth accelerated to 2.8% from the 1.7% pace in the previous quarter after government spending expanded and the private sector unexpectedly picked up.
Despite persistent food inflation, private consumption increased because of a rise in real wages.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.1% to 39,174.25, and the broader TOPIX advanced 0.3% to 2,766.90.
Technology stocks led gainers in Monday's trading as investors remained focused on artificial intelligence-linked stocks.
Tokyo Electron decreased 0.1% to ¥24,790.0, Advantest Corp. gained 1.3% to ¥9,209.0, and Disco Corp. jumped 3.5% to ¥47,060.0.
Automobile makers were in focus on the news that the U.S. presidential administration is looking to place additional tariffs on Japanese vehicles starting as early as April 2.
Toyota Motor decreased 1.1% to ¥2,773.50, Honda Motor declined 3.1% to ¥1,424.0, and Nissan Motor eased 0.4% to ¥424.0.
Marubeni Corp. increased 1.3% to ¥2,345.0, Itochu Corp. decreased 1.3% to ¥6,428.0, and Sumitomo Corp. declined 1.2% to ¥3,291.0.
China and Hong Kong Stocks Hover Near Recent Highs Amid AI-Driven Enthusiasm
Li Chen
17 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong hovered near five-month highs amid continued speculation in artificial intelligence-driven stocks.
The Hang Seng index decreased 0.3%, and the mainland-focused CSI 300 index wavered around the flatline.
The success of Deep Seek, an artificial intelligence-driven chatbot, drove investors to pile in, leading Internet platform operators in the hopes that access to affordable advanced technology may fuel earnings growth.
Foreign and mainland China-focused investors have been increasing exposure to leading tech and tech-driven stocks, and the Hang Seng index has rebounded to a five-month high.
In the year so far, the Hang Seng index has jumped more than 15%, driven by a surge of 7% in the previous week.
Tech stocks were in focus after China's premier Xi Jinping chaired a meeting with executives from leading tech companies, including Huawei, BYD, Tencent Holdings, Xiaomi, and CATL.
China Indexes and Stock
The Hang Seng index decreased 0.3% to 22,558.69, and the mainland-focused CSI 300 index declined a fraction to 3,937.54.
Tencent Holdings jumped 4.4% to HK $496.0, Meituan decreased 0.6% to HK $168.90, Alibaba Group Holding declined 0.5% to HK $123.40, and BYD dropped 2% to HK ¥348.50.
China and Hong Kong Stocks Hover Near Recent Highs Amid AI-Driven Enthusiasm
Li Chen
17 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong hovered near five-month highs amid continued speculation in artificial intelligence-driven stocks.
The Hang Seng index decreased 0.3%, and the mainland-focused CSI 300 index wavered around the flatline.
The success of Deep Seek, an artificial intelligence-driven chatbot, drove investors to pile in, leading Internet platform operators in the hopes that access to affordable advanced technology may fuel earnings growth.
Foreign and mainland China-focused investors have been increasing exposure to leading tech and tech-driven stocks, and the Hang Seng index has rebounded to a five-month high.
In the year so far, the Hang Seng index has jumped more than 15%, driven by a surge of 7% in the previous week.
Tech stocks were in focus after China's premier Xi Jinping chaired a meeting with executives from leading tech companies, including Huawei, BYD, Tencent Holdings, Xiaomi, and CATL.
China Indexes and Stock
The Hang Seng index decreased 0.3% to 22,558.69, and the mainland-focused CSI 300 index declined a fraction to 3,937.54.
Tencent Holdings jumped 4.4% to HK $496.0, Meituan decreased 0.6% to HK $168.90, Alibaba Group Holding declined 0.5% to HK $123.40, and BYD dropped 2% to HK ¥348.50.
India Movers: Bajaj Consumer, Aditya Birla Fashion, Deepak Nitrite, Easy Trip Planners, GlaxoSmithKline, Gujarat Raffia, MTNL
Arun Goswami
17 Feb, 2025
Mumbai
The Sensex and Nifty indexes extended losses to the ninth consecutive session amid a lackluster earnings growth outlook and persistent outflow of foreign funds.
Stock market indexes in Mumbai turned lower, and the rupee remained under pressure amid persistent foreign funds outflow.
The Sensex index declined by 0.6% to 75,436.46, and the Nifty index decreased by 0.7% to 22,772.20.
On the Mumbai stock exchange, 22 stocks traded at their 52-week highs, and 678 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.66 against the U.S. dollar.
Bajaj Consumer Care Ltd. declined 3.1% to ₹167.55, and the personal care products maker reported a 30% decline in net income in the December quarter.
Consolidated revenue decreased to ₹242 crore from ₹250.2 crore, net income fell to ₹25.3 crore from ₹36.3 crore, and diluted earnings per share dropped to ₹1.82 from ₹2.55 a year ago.
Aditya Birla Fashion & Retail increased 0.02% to ₹247.60, and the apparel reported a 4% rise in the December quarter revenue.
Consolidated revenue increased to ₹4,361.7 crore from ₹4,210.7 crore, after-tax loss shrank to ₹42.36 crore from ₹107.6 crore, and diluted earnings per share fell to 48 paisa from 81 paisa a year ago.
Easy Trip Planners Ltd. fell 3.4% to ₹11.53 after the online travel booking services provider reported a 25% drop in profit in the December quarter from a year ago.
Consolidated revenue declined to ₹153.8 crore from ₹165.3 crore, net income fell to ₹34 crore from ₹45.6 crore, and diluted earnings per share decreased to 9 paisa from 13 paisa a year ago.
GlaxoSmithKline Pharmaceuticals Ltd. jumped 17.8% to ₹2,376.70, and the pharmaceutical and healthcare company reported a sharp increase in quarterly revenue and earnings.
Consolidated revenue increased to ₹984.49 crore from ₹833.4 crore, after-tax profit advanced to ₹229.9 crore from ₹45.7 crore, and diluted earnings per share jumped to ₹13.57 from ₹2.70 a year ago.
The company's board declared a special interim dividend for the financial year 2025 of ₹12 per equity share.
Gujarat Raffia Industries Ltd. decreased 5% to ₹48.36 after the PE Tarpaulin maker reported a decline in revenue and earnings in the December quarter.
Standalone revenue decreased to ₹6.1 crore from ₹7.5 crore, net income fell to ₹0.07 crore from ₹0.2 crore, and diluted earnings per share declined to 14 paisa from 33 paisa a year ago.
Deepak Nitrite Limited dropped 2.5% to ₹1,852.85, and the chemical producers reported a 52% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹1,924.4 crore from ₹2,022.8 crore, after-tax profit declined to ₹98.1 crore from ₹202.1 crore, and diluted earnings per share dropped to ₹7.19 from ₹14.81 a year ago.
Glenmark Pharmaceuticals Ltd. advanced 2.7% to ₹1,357 after the company reported a profit in the December quarter from a year ago.
Consolidated revenue increased to ₹3,418.6 crore from ₹2,552.1 crore, net income swung to a profit of ₹348 crore from a loss of ₹449.5 crore, and diluted earnings per share swung to ₹12.33 from a loss of ₹16.66 a year ago.
Mahanagar Telephone Nigam Ltd. increased 3.3% to ₹48.42 after the telecommunication company reported fiscal third quarter results.
Consolidated revenue increased to ₹339 crore from ₹335 crore, after-tax loss declined to ₹836 crore from ₹839 crore, and diluted losses per share fell to ₹13.27 from ₹13.32 a year ago.