Europe stocks open higher as FTSE hits record high
An hour ago
Europe’s stocks have shown positive signs as trading began today, with the noteworthy Stoxx 600 index experiencing a 0.5% rise by 8:40 a.m. London time. Additionally, the FTSE 100 of the United Kingdom has reached an all-time intraday high after climbing by 0.5%. Furthermore, France’s CAC 40 has also risen by 0.2% and Germany’s DAX has shown an increase of 0.7%.
Chinese bubble tea company Chabaidao tumbles 30% in Hong Kong trading debut
7 hours ago
The trading debut of Chinese bubble tea chain Chabaidao, listed as Sichuan Baicha Baidao Industrial, in Hong Kong was nothing short of a disappointment, with shares experiencing a plummet of over 30%. Initially opening 10% lower, currently, the shares are trading at HK$12.32, significantly below the IPO offer price of HK$17.50. Chabaidao’s IPO was the largest listing in Hong Kong this year, generating net proceeds of 2.59 billion Hong Kong dollars ($330.5 million). The public offer, being only 0.5 times subscribed, led the company to reallocate the remaining shares to the global offer, which was 1.11 times subscribed.
Yen hits fresh 34-year low of 154.85 early Tuesday
9 hours ago
The Japanese yen has attained a fresh 34-year low against the U.S. dollar, dropping to 154.85 early on Tuesday. This weakening currency, the weakest since the mid-1990s, has slightly strengthened to 154.74 as of 9:18 a.m. Tokyo time. The Bank of Japan will closely monitor the yen’s movement, considering plans to intervene, although no specific level has been announced.
Australia’s business activity expands at the fastest pace in 24 months: S&P Global
9 hours ago
Australia’s business activity has flourished in April, expanding at the fastest rate in 24 months, as revealed by flash figures from S&P Global. The composite purchasing managers index surged to 53.6 from 53.3 in March, signifying remarkable progress. Although the manufacturing PMI rose to 49.9 from 47.3, remaining just below the expansion threshold of 50, the services PMI slightly declined to 54.2 from 54.4.
Stocks making the biggest moves after hours
11 hours ago
Several companies have caught the attention of after-hours traders due to significant market moves. Nucor, the steelmaker, experienced a slide of 6.3% following disappointing first-quarter results and a lackluster second-quarter outlook. Cleveland-Cliffs, the steel producer, lost close to 3% due to first-quarter results falling short of analysts’ expectations. Cadence Design Systems saw its shares drop 8.9% after issuing disappointing second-quarter guidance.
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March new home sales data set to release Tuesday
11 hours ago
According to economists polled by Dow Jones, new home sales in March are expected to have risen by 1.2%, marking an improvement from the 0.3% decline in the previous month. The data is scheduled to release at 10 a.m. ET on Tuesday.
Stock futures open little changed
11 hours ago
As stock futures opened earlier today, there have been minimal changes in the market.
