European Stock Exchanges
Even with reports of further flare-ups in the Persian Gulf, oil remained overvalued, naturally supporting the bullish move in equity instruments.
The Thursday battles ended with a strengthening of most Western European indices. The biggest winners were the Madrid indices (IBEX35: +1.14%) and Milan (FTSE MiB: +1.09%), which gained to a similar extent.
A clear buying advantage in the second half of the day was evident in the German DAX (+0.89%) and the Paris market (CAC40: +0.90%). The pan‑European STOXX rose 0.78%, and the Swiss SMI index only 0.29%.
The best performer in Europe was the London market: there the main FTSE100 index finished the day slightly lower, down 0.16%. Thursday proved an opportunity to buy German debt, which translated into a decline in its yields. The yield of the 10‑year Bund remains elevated at 3.0545.
Moderate Gains on the Warsaw Stock Exchange
The Warsaw market ended Thursday with moderate gains led by domestic blue chips. The driver of the WIG20 rise (+0.37%) was, among others, Pepco (+4.66%) thanks to a revision of sales expectations, and KGHM (+2.32%).
The broad market index WIG finished the session above the line, up 0.28%. After a flat session, the small‑cap index sWIG80 (+0.19%) also recorded a modest gain.
The second tier of companies, represented by mWIG40, finished trading at yesterday’s close. The most important event on the domestic market was the conference of the President of the National Bank of Poland, Adam Glapiński, who effectively maintained a dovish stance, not ruling out interest‑rate cuts even after the holidays. Benchmark 10‑year SPW yields fell.
Wall Street - Market Moves
On Wall Street, investor attention, like a boomerang, returned to the technology sector. The Nasdaq 100, comprising the 100 largest tech companies, strengthened strongly, gaining 1.62%. Sentiment improved with reports of the upcoming ADR debut of SK Hynix on Nasdaq, where demand was expected to far exceed the number of shares available.
Investors’ appetite for semiconductor companies is well illustrated by the strengthening SOX index (+3.06%). The broad market S&P 500, after a bullish session, gained 0.81%.
The buying advantage was also evident in the more defensive Dow Jones (DJIA: +0.27%) and the smallest companies represented by the Russell2000 (+1.22%).
Yesterday, Meta Platforms showcased a new version of the Muse Spark 1.1 model in a public preview via API. The product looks very strong against competitors and is also several times cheaper to use. The hyperscaler’s shares rose 4.70%. The morning view of Asian markets brings an optimistic tone.
Asian Stock Exchanges
One hour before the start of European trading, the key Japanese Nikkei index remains above the line (+1.58%).
The yesterday’s rebound of semiconductor companies clearly supports Samsung (+5.13%) and SK Hynix (+2.38%), translating into a rise in the KOSPI (+3.99%). Chinese investors are choosing to add risk to their portfolios.
At the time of writing, the continental Shanghai Composite is up 0.38%, and the Hang Seng 1.14%. Rising indices are also seen in India: Sensex and Nifty are strengthening similarly, at 0.90% and 0.87% respectively.
The lack of conviction was evident in the precious‑metals market. Gold fell 0.17% in the morning, while silver gained 0.48%. Brent crude contracts are also slightly overvalued (-0.12%), trading at $76.22 per barrel.
