European stocks look set to open notably higher on Monday after U.S. President-elect Donald Trump picked hedge fund billionaire Scott Bessent as his Treasury Secretary, raising optimism he would recommend tariffs be layered in gradually. He has advocated, in a Bloomberg interview, for the U.S. to grow its way out of large debts and, in...
The U.S. dollar weakened against other major currencies in the Asian session on Monday amid risk appetite, following the broadly positive cues from Wall Street on Friday, boosted by strong gains in markets in Japan, Indonesia and South Korea as traders remain optimistic about a 25-basis point rate cut by the U.S. Fed in December...
Most Asian stocks rose on Monday, the dollar dipped, and bond yields declined after U.S. President-elect Donald Trump has chosen wealthy hedge fund manager Scott Bessent to be his Treasury secretary. Bessents reputation for stability and his past advocacy for gradual economic policies have calmed market nerves. Oil prices traded lower in Asian trading and...
German stocks opened higher on Monday ahead of the release of key inflation readings from the U.S. and Eurozone, U.S. GDP data and the minutes from the last FOMC meeting due this week. The single European currency traded below the 1.05 level after ECB chief economist Phillip Lane said that monetary policy should not remain...
French stocks traded higher on Monday after Donald Trump nominated Scott Bessent, a billionaire hedge fund manager and an advocate for deficit reduction, to lead the U.S. Treasury Department. The benchmark CAC 40 was up 35 points, or half a percent, at 7,289 after rising 0.6 percent on Friday. Atos SE shares jumped nearly 22...
U.K. stocks were slightly higher on Monday despite an ongoing row about tax rises by chancellor Rachel Reeves. The benchmark FTSE 100 was up 32 points, or 0.4 percent, at 8,294 after climbing 1.4 percent on Friday. Anglo American advanced 1.6 percent after Peabody Energy won a hotly contested battle to buy the miners steelmaking...
European stocks traded higher at two-week highs on Monday after Donald Trump nominated Scott Bessent, a billionaire hedge fund manager and an advocate for deficit reduction, to lead the U.S. Treasury Department. Rate cut hope also fueled gains after ECB chief economist Phillip Lane said that monetary policy should not remain restrictive for too long...
German business sentiment softened in November on a notable deterioration in current conditions as economic struggles deepened, survey results from ifo Institute showed on Monday. The business climate index fell to 85.7 in November from 86.5 in the previous month. The score was expected to fall moderately to 86.0. At 84.3, the current situation index...
The British pound strengthened against other major currencies in the European session on Monday, as traders anticipate that the Bank of England (BoE) would slow down its policy-easing process in the upcoming month, particularly in light of data that was made public last week that indicated the UK inflation accelerated and once again exceeded the...
The U.S. dollar recovered against some of its major counterparts in the New York session on Monday. The greenback recovered to 1.0466 against the euro and 1.2541 against the pound, from its early 4-day lows of 1.0530 and 1.2612, respectively. The greenback rose to 0.5835 against the kiwi, 0.6486 against the aussie and 1.4007 against...