Gazeta Lodz - Stock markets close out turbulent week with gains

NYSE - LSE

RYCEF	-1.2%	20.81	$
BP	1.63%	44.13	$
BTI	-1.06%	55.79	$
GSK	2.43%	52.425	$
RIO	3.05%	99.73	$
RELX	1%	34.86	$
NGG	-0.86%	81.45	$
AZN	2.79%	164.69	$
BCE	1.48%	23.71	$
BCC	3.1%	82.745	$
VOD	0.4%	16.195	$
CMSD	0.24%	21.13	$
JRI	0.58%	12.512	$
CMSC	0.35%	21.315	$
RBGPF	0.51%	69	$

Stock markets close out turbulent week with gains

ECONOMY 31.01.2025

Stock markets close out turbulent week with gains / Photo: © AFP

European and Asian stock markets mostly rose Friday, the end of a week beset by volatility after China's DeepSeek unveiled an artificial intelligence model to rival those of US tech giants.

Text size:

Confirmation from US President Donald Trump that the world's biggest economy would impose hefty tariffs on Canada and Mexico from this weekend added to the economic unrest felt around the globe, pushing haven investment gold to fresh record highs Thursday.

Following sharp losses for equities early in the week as tech stocks plunged, markets have recovered somewhat thanks to positive earnings and company strategy updates.

London's benchmark FTSE 100 hit fresh highs Friday, helped by an 11-percent jump in the share price of Smiths Group after the British engineering company said it planned to simplify the business and return substantial sums to shareholders.

The British index also took "cues from solid trading on Wall Street as the recovery from Monday's DeepSeek related volatility continued", noted Russ Mould, investment director at AJ Bell.

US equity indices closed higher Thursday shortly before Apple reported that sales growth fell shy of expectations in the final quarter of last year.

Focus later Friday turns to a fresh inflation reading from the United States.

"There's one more hurdle to get over this week as core PCE inflation data is released in the US," said Mould.

"This metric is a big factor in informing the decision-making of the Fed (on interest rates) so a surprise in either direction could make markets increasingly febrile again."

The US Federal Reserve kept borrowing costs unchanged this week, in contrast to the European Central Bank which Thursday cut rates as growth stalls in the eurozone.

Next week the Bank of England is widely forecast to trim its main interest rate, as the UK struggles to grow its economy.

The dollar rose Friday, including against the British pound, euro and yen.

The greenback weighed more so on the Mexican peso and Canadian dollar, however, after Trump said he would go ahead with the threatened 25 percent tariffs on the countries pencilled in for Saturday.

The US currency has been supported this week also by the Fed indicating that it did not see a need to cut interest rates further while the country's inflation remaining elevated.

- Key figures around 0945 GMT -

London - FTSE 100: UP 0.4 percent at 8,685.05 points

Paris - CAC 40: UP 0.4 percent at 7,974.67

Frankfurt - DAX: UP 0.2 percent at 21,777.48

Tokyo - Nikkei 225: UP 0.2 percent at 39,572.49 (close)

Hong Kong - Hang Seng Index: Closed for a holiday

Shanghai - Composite: Closed for a holiday

New York - Dow: UP 0.4 percent at 44,882.13 (close)

Euro/dollar: DOWN at $1.0377 from $1.0392 on Thursday

Pound/dollar: DOWN at $1.2416 from $1.2420

Dollar/yen: UP at 154.65 yen from 154.38 yen

Euro/pound: DOWN at 83.58 pence from 83.67 pence

West Texas Intermediate: DOWN 0.2 percent at $72.58 per barrel

Brent North Sea Crude: DOWN 0.3 percent at $75.64 per barrel

burs-bcp/lth

X.Dabrowski--GL

Featured

UK PM launches bid to get rough sleepers off streets by Christmas

New UK Prime Minister Andy Burnham unveiled plans Wednesday to offer those sleeping rough a way off the streets by Christmas, as part of his bid to curb homelessness.

Texas Counseling Center Highlights the Role of Counseling in Supporting Immigration Psychological Evaluations

Texas Counseling Center is highlighting the role professional counseling can play in helping individuals manage the emotional challenges associated with immigration proceedings and prepare for immigration psychological evaluations.

Humanoid-maker Unitree surges more than 600% on Shanghai debut

Chinese humanoid pioneer Unitree, whose backflipping robots wowed the world earlier this year, made a much-anticipated market debut in Shanghai on Wednesday with a similarly impressive leap in share price of more than 600 percent.

STARPRIME Completes Beta Testing of Market-Maker Model for Retail Brokers

The Market-Maker Model developed by STARPRIME has completed an extensive beta-testing phase, working with a select number of clients. The term ‘market maker’ carries a stigma of being a bad actor in our industry. That reputation has identifiable origins, and some of it has been earned. What follows is how a properly governed market-making arrangement differs, and where it can materially improve outcomes for retail brokers.