European stocks rose in early trading, with the UK, French, and Spanish markets hitting record highs. Market participants are focused on US-Denmark consultations regarding Greenland, developments in Iran’s situation, and a potential ruling by the US Supreme Court on Trump’s tariffs.
The pan-European STOXX 600 index rose 1.82 points, or 0.3%, to 612.26, reaching an intraday high of 612.47 points. The UK FTSE 100 index climbed 32 points, or 0.3%, to 10,169, with an intraday peak at 10,171 points. The French CAC 40 index advanced 43 points, or 0.5%, to 8,390, reaching an intraday high of 8,396 points. The German DAX index added 18 points, or less than 0.1%, to 25,439. The Spanish IBEX 35 index gained 111 points, or 0.6%, to 17,799, hitting an intraday high of 17,833 points. The Italian FTSE MIB index increased by 143 points, or 0.3%, to 45,668.
In individual stock movements, BP PLC projected impairments of $4 billion to $5 billion for the fourth quarter of last year, causing its shares to fall by 1.5%. Spot silver prices surged past the $90 level, driving mining company Fresnillo’s stock up by 3.9% earlier in the session, while its latest increase was around 1%.
In U.S. stock futures, Dow Jones Industrial Average futures fell 101 points, or 0.2%, to 49,308. S&P 500 Index futures declined 11 points, or 0.2%, to 6,990. Nasdaq 100 futures dropped 42 points, or 0.2%, to 25,863.
In the Asia-Pacific region, mainland Chinese stocks retreated 0.3% after hitting a record high, while Shenzhen and Hong Kong equities each rose by 0.6%. Total turnover in Shanghai and Shenzhen exceeded 3.9 trillion yuan, setting a new record. Taiwan and South Korean markets rose by 0.8% and 0.6%, respectively, with Japanese stocks gaining 1.5%, as all three markets reached fresh highs. Australian and New Zealand markets increased by 0.1% and 0.7%, respectively, with New Zealand’s market hitting a new peak. Indian and Singaporean markets were recently down by 0.2%, while Indonesia’s market gained 0.9%, reaching another record high.