- Just before 2 p.m., European markets are trading in a positive mood. Indices continue the bullish momentum seen at the start of the session. The German DAX is up 1.1% intraday, the French CAC40 is up 1.15% and the British FTSE100 is up 0.4%.
- At the same time, Poland's WIG20 index stands out even more, currently adding 1.5%.
- Investors on the Old Continent are paying attention to several companies:
- Ubisoft (UBI.FR) shares fall 34% following announcement of massive restructuring programme. The company is halting production of six games (including a remake of Prince of Persia: The Sands of Time), delays seven other titles, closes two studios and restructures its operations into five new "creative houses".
- On the German market, investors are focusing on Volkswagen (VOW1.DE) shares, which jumped to the top of Germany's DAX blue-chip index after Europe's largest carmaker announced better-than-expected financial results for 2025 in its automotive division.
- Shares in Deutsche Boerse AG (DB1.DE) rose 3% after announcing a binding agreement to acquire Allfunds Group Ltd in a deal valuing the fund services provider at around €5.3 billion.
- Futures contracts based on US indices continue to rise after Donald Trump yesterday backed down from imposing tariffs on countries opposing the US takeover of Greenland. The US100 is currently up 0.8% and the US500 is up 0.5%.
- The minutes of the ECB meeting show that most bankers consider the current monetary policy to be adequate for the baseline scenario, indicating that maintaining interest rates at their current level is a "sound path".
- The Australian dollar is dominating today's FX session, gaining as much as 0.7% against the US dollar following the release of the latest Australian labour market data. An unexpected drop in unemployment has once again increased the likelihood of interest rate hikes by the RBA, pushing AUDUSD to multi-year highs.
- Apart from the AUD itself, the NZD is also performing very well. The biggest losses are seen in the British pound and the Japanese yen. The dollar is halting its rebound against the euro.
- On the commodities market, we are seeing a halt in gold's rise (amid declining geopolitical turmoil), further increases in NATGAS just before contract rollover, and a continued weakening of WTI crude oil.
- Later in the day, investors will focus on Wall Street earnings and macroeconomic data releases, including: US GDP data, US PCE inflation, EIA data on US gas inventories, and DOE data on US oil inventories.
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