European stocks slide as IEA chief warns of ‘biggest energy security threat in history’
European stocks were negative territory on Thursday, with oil prices ticking higher, as the head of the International Energy Agency warned that the world faces an unprecedented energy security threat.
The pan-European Stoxx 600 was about 0.4% lower in morning dealmaking, with most regional sectors and bourses trading in the red. Brent crude, the international oil benchmark, was up 2.2%, reaching $104.17 per barrel.
Speaking with CNBC’s Steve Sedgwick at this year’s CNBC CONVERGE LIVE in Singapore on Thursday, Fatih Birol, the head of the International Energy Agency (IEA), said the world faces the “biggest energy security threat in history.”
He also warned of “difficult days” ahead for Europe’s jet fuel supplies as a result of the Iran conflict.
Among individual stocks, L’Oreal soared 8.7% after the cosmetics giant notched its fastest quarterly growth in two years, while Nokia shares surged 8.2% after posting a quarterly profit beat.
L’Oreal.
Asia markets mostly end lower on fragile ceasefire optimism as U.S. reportedly intercepts Iranian oil tankers
Most Asian markets gave up early gains to end lower Thursday, following reports that the U.S. had intercepted at least three Iranian oil tankers in Asian waters, stoking concerns that the Middle East conflict could drag on.
Japan’sNikkei 225ended Thursday’s session 0.75% lower at 59,140.23, after briefly touching an all-time intraday high of 60,013.98 in early trade.
Japan’s manufacturing activity expanded at its fastest pace in four years in April, according to the S&P Global flashPurchasing Managers’ Index, as firms boosted output amid supply concerns linked to Middle East tensions.
South Korea’sKospireached an all-time intraday high of 6,538.72 in early trade and ended 0.90% higher at 6,475.81. The small-cap Kosdaq dropped 0.58% to 1,174.31.The country’s economygrew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020.
Australia’sS&P/ASX 200traded choppy, falling 0.57% to 8,793.40.
Mainland China’s CSI 300 index slipped 0.28% to 4,786.33, while Hong Kong’sHang Seng indexfell 0.92% as of its last hour of trade.
India’sNifty 50fell 0.67% as of 3:40 a.m. ET.
TheWest Texas Intermediatefutures rose 1.33% to $94.20 per barrel as of 2:31 a.m. ET.Brent crudeadded 1.21% to $103.50 per barrel.
— Justina Lee
Japan and South Korea markets reach all-time high on Iran-U.S. extended ceasefire
Japan and South Korea stocks hit record highs Thursday, trailing overnight gains on Wall Street after PresidentDonald Trump‘s extended a ceasefire with Iran, boosting investor sentiment alongside strong corporate earnings.
Japan’sNikkei 225briefly touched an all-time intraday high of 60,013.98, before slipping 0.31% on profit taking.
Japan’s manufacturing activity expanded at its fastest pace in four years in April, according to the S&P Global flashPurchasing Managers’ Index, as firms boosted output amid supply concerns linked to Middle East tensions.
Index heavyweightSoftbank Group Corpgained over 6%. A Bloombergreportsaid the company is taking on more debt in its push for AI, seeking a $10 billion margin loan backed by its OpenAI holdings.
South Korea’s Kospi also reached an all-time intraday high of 6,538.72, advancing 1.58%. The small-cap Kosdaq was 0.58% higher.The country’s economygrew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020.
The 1.7% growth in January to March from the previous quarter exceeded Reuters’ estimatesof 1.0%and rebounded from the 0.2% contraction in the prior quarter.
Samsung Electronics shares hit a new intraday record of 227,000. Investors were also monitoring labor developments, as the company’s unions expected more than 30,000 workers to attend a rally in South Korea on Thursday, ahead of a planned strike next month.
Australia’s S&P/ASX 200 traded choppy, fallling 0.76%.
Mainland China’s CSI300 index rose 0.35%, while Hong Kong’sHang Seng indexfell 0.51% ahead of the release of the city’s March inflation data.
Oil prices rise, withWest Texas Intermediatefutures rose 0.49% to $93.42 per barrel as of 9:33 p.m. ET.Brent crudeadded 0.28% to $102.20 per barrel.
— Justina Lee
7 of the 11 GICS sectors rise on Wednesday
On Wednesday, seven of the 11 GICS sectors finished higher.
Gains were led by information technology stocks, which rose 2.31%. Communication services and energy stocks followed in performance, respectively adding 1.41% and 1.14%.
On the other hand, real estate stocks slipped 0.69% and were the day’s underperformers. The industrials, financials and utilities sectors followed, respectively slipping 0.20%, 0.17% and 0.16%.
— Lisa Kailai Han
Stocks making the biggest moves after hours: Tesla, IBM and more
These are the stocks moving the most in extended hours trading:
- Tesla— Shares initially popped 4% after the electric vehicle maker postedfirst-quarter adjusted earningsof 41 cents per share, beating the 37 cents analysts polled by LSEG had expected. However, shares were recently down about 1% in extended trading.
- International Business Machines— The technology giant slipped nearly 7% after IBM failed to raise its full-year guidance after posting an earnings beat.
- ServiceNow— The AI-powered software company reportedfirst-quarter earnings and revenuethat topped Wall Street expectations. However, shares tumbled more than 13% as subscription revenue disappointed investors.
Read the full list of stocks moving here.
— Lisa Kailai Han
About The Author
