Oil retreated while global stocks diverged as investors assessed early signs of progress in diplomatic talks between the US and Iran. Brent crude slid 1.9% to $79 a barrel, erasing declines, after the two sides agreed to a roadmap toward reaching a final peace deal within 60 days. A rally in technology shares helped lift Asia’s equity benchmark up 0.6%, but futures on the S&P 500 as well as contracts for European stocks dropped around 0.5%. Gold prices rebounded and Treasuries fell as cash trading resumed after Friday’s US holiday. The latest developments came after talks got off to a confusing start on Sunday, when local media reported that Iran halted the discussions after US President Donald Trump once again threatened strikes if Hezbollah keeps attacking Israel. The two sides have agreed to create a “de-confliction cell” involving the parties and Lebanon to help ensure adherence to the cessation of military operations there, the mediators said. A subgauge of Asian technology shares rallied more than 1.5% amid continued optimism over the artificial intelligence trade. Taiwan’s tech-heavy market led gains in the region, with buying of AI and semiconductor shares also driving Japanese benchmarks higher. In Seoul, shares of companies part of the LG Group rallied following a report that executives from the firms will visit Nvidia headquarters on Monday to discuss cooperation in physical AI and robotics. LG Electronics Inc.’s stock soared over 13% intraday. US equities are set to resume trading on Monday, with the S&P 500 having risen in 11 of the last 12 weeks. Nasdaq 100 futures were down 0.5% after sliding more than 1% earlier. Meanwhile, a gauge of Chinese stocks in Hong Kong edged toward a bear market as trading resumed after a holiday, weighed down by weak consumption data. The MSCI China Index was also set to enter a bear market. In fixed-income, the yield on 10-year Treasuries as well as that on similar-maturity Japanese and Australian bonds rose. Bond traders, recently forced to reposition for the possibility of higher interest rates ahead, are looking to this week’s personal spending data in the US for an early read on whether the market’s newly hawkish stance is warranted. A gauge of the dollar advanced 0.2%, adding to last week’s gains. The pound traded near this year’s low on expectations Keir Starmer will set out a timetable for his departure as UK prime minister in coming days.
Starmer is expected to concede power in a statement as soon as Monday, people familiar with the matter said, although they cautioned that was not certain. The prime minister spent the last three days considering his position and whether he should continue to fight attempts by Greater Manchester Mayor Andy Burnham, who was elected to Parliament last week, to depose him. The question for investors is the impact on UK’s finances if Burnham becomes prime minister. He has so far offered little clarity on the potential policies he’d pursue, making it difficult to gauge the ramifications for future borrowing. Markets are nervous about any potential to ramp up bond sales to fund spending, given the UK is already struggling with its debt pile.
Nikkei +1.80% Hang Seng -0.82% CSI +1.33% Shanghai +0.71% Shenzen +0.23%
Eur$ 1.1470 CNH 6.7795 CNY 6.7760 JPY 161.65 GBP 1.3219 CHF 0.8079 RUB 73.3397 TRY 46.4569 WTI$ 75.18 -0.88% Gold 4,193 BTC ETH
S&P -0.37% Nasdaq -0.24% EuroStoxx -0.24% FTSE +0.10% Dax -0.07% SMI
Macro :
- China Targets US Rare Earths Firms in Response to Pentagon List
- Araghchi Says Talks Delivered Major Progress to End Lebanon War
- Araghchi Says Talks Delivered Major Progress to End Lebanon War
- Trump Tells Axios He Doesn’t See Anthropic as US Security Threat
- Berenberg Management Suspended by German Regulator Bafin (1)
- Spain Weighs Financial Aid to Struggling Solar Power Industry
Keep an eye on :
Keep an eye on :
- ABBV US : AbbVie closes in on nearly $11bn deal for biotech Apogee Therapeutics
- Anthropic IPO : Trump Tells Axios He Doesn’t See Anthropic as US Security Threat
- ACA US : CRH Nears Biggest-Ever Deal to Buy Arcosa: FT
- Belfius Belgian Govt to Seek Buyer for Belfius Stake From Mon: Le Soir
- BIOAB SS : BioArctic Signs Research Deal With Eli Lilly for $30m
- BPE IM : BPER Banca Gets ECB Approval for Up to €750m Share Buyback
- BN CN : Brookfield Is Said to Lead Bidding for Drahi’s XpFibre Business
- CB US : Hormuz Transit Security Is ‘Hour to Hour’ Play, Chubb CEO Says
- CRH US : CRH Nears Biggest-Ever Deal to Buy Arcosa: FT
- CVC NA : CVC Adds Recordati Exposure Via Swap as Tender Offer Progresses
- BN FP : Danone Buys Australian Dairy Producer Made Group in Protein Push
- BN FP : Danone Buys Australian Dairy Producer Made Group in Protein Push
- Delfin Holding : Del Vecchio Heir Says Banks Asked Family Holding More Guarantees
- EDF FP : EDF to Halt Golfech 2 French Reactor June 22 to June 30
- ELIS FP : Elis to Abandon Purchase of OCL Laundry Services in Ireland
- GDS US : MGX Mulls Buying Data-Center Operator DayOne, Reuters Says
- GTT FP : *GAZTRANSPORT ET TECHNIGAZ FALLS 4.2% ON TRADEGATE VS PARIS CLOS
- GOOGL US : Nobel Winner John Jumper to Leave Google DeepMind for Anthropic
- KNDS IPO : Germany, KNDS Family Owners Agree on Stake Sale Ahead of IPO
- LDO IM : Italy Open to Germany Joining Fighter Jet Project: FT
- LDO IM : Italy Open to Germany Joining Fighter Jet Project: FT
- LLOY LN : Lloyds to Recruit for Almost 300 Agentic AI-Related Roles
- NDX1 GY : Nordex Gets Three US Orders Totaling 484 MW
- P911 GY : Porsche Eyes Deal to Cut More Costs as Automaker Reins In Output
- REC IM : CVC Adds Recordati Exposure Via Swap as Tender Offer Progresses
- RNO FP : Renault Pushback on Nissan Board Picks Targets Creditor Mizuho
- RVMD US : Drugmaker Revolution Medicines Says Sale Not Priority: FT
- SAN FP : Sanofi Pares Drop; FT Reports AbbVie Close to Deal With Apogee
- 9984 JP : SoftBank-Backed Robot Maker Gears Up for Hong Kong IPO, Sources Say
- UBI FP : Ubisoft Co-Founder Claude Guillemot Dies in Air Crash at Age 69