European stocks edged lower at the open, weighed down by declines in financial shares. Defense stocks were buoyed by remarks from U.S. President Trump suggesting Ukraine could reclaim territory from Russia.
The pan-European STOXX 600 fell 1.74 points, or 0.3%, to 553.21 points. The UK FTSE 100 index dropped 19 points, or 0.2%, to 9,203 points; Germany’s DAX index declined 22 points, or 0.1%, to 23,589 points; France’s CAC 40 index lost 13 points, or 0.2%, to 7,858 points; Spain’s IBEX 35 index shed 63 points, or 0.4%, to 15,095 points; and Italy’s FTSE MIB index fell 181 points, or 0.4%, to 42,296 points.
In the banking sector, Deutsche Bank and UBS Group each fell 1.7%, while Barclays dropped 1.2%. Among defense stocks, Sweden’s Saab rose 4.9%, with Leonardo and Dassault Aviation climbing 3.2% and 2.3%, respectively. German specialty chemicals company Lanxess slumped 6.3% after Deutsche Bank downgraded its investment rating to “Hold.” Additionally, auto stock Stellantis fell more than 3%.
In U.S. futures markets, Dow futures rose 1 point to 46,638 points; S&P 500 futures added 6 points to 6,723 points; and Nasdaq 100 futures gained 60 points to 24,887 points.
In Asia-Pacific markets, China’s Shanghai and Shenzhen indices climbed 0.8% and 1.8%, respectively. Hong Kong’s Hang Seng Index surged 359 points, or 1.4%, to close at 26,518 points, with turnover reaching 288.8 billion yuan. Taiwan and South Korean markets fell 0.2% and 0.4%, respectively, while Australia’s market dropped 0.9%. Japan and New Zealand markets each gained 0.3%. India’s Nifty 50 index slid 51 points, or 0.2%, to 25,118 points. Singapore’s Straits Times Index fell 8 points, or 0.2%, to 4,293 points. Malaysia, Indonesia, and the Philippines markets dropped between 0.1% and 0.3%. Thailand’s market rose 0.4%, while Vietnam’s Hanoi and Ho Chi Minh markets advanced 1.6% and 1.4%, respectively.