ASIA/PACIFIC
Asian stocks rose broadly on Thursday as traders reacted to the Federal Reserve’s status-quo rate decision and awaited cues from upcoming trade negotiations between China and the United States. China’s Shanghai Composite Index rose 0.3%, Hong Kong’s Hang Seng Index closed up 0.4% and Japan’s Nikkei 225 Index climbed 0.4%. Australia’s S&P/ASX 200 Index inched up by 0.2%.
EUROPE
Major European stock exchanges closed mostly higher as the United States and the United Kingdom announced a trade agreement, boosting market sentiment and easing economic worries. The Bank of England also cut interest rates by a quarter of a percentage point, further supporting investor confidence. The pan European Stoxx 600 climbed 0.83%. The U.K.’s FTSE 100 closed higher by 0.22%, Germany’s DAX and France’s CAC 40 gained 1.11% and 1.12%, respectively.
AMERICAS
American stock markets closed higher buoyed by renewed optimism over international trade developments. The announcement of a new trade agreement between the United States and the United Kingdom, along with positive signals regarding potential tariff reductions with China, contributed to investor confidence.
AFRICA
Egypt’s blue-chip index eased 0.2% as inflation pressures mounted following a recent fuel price hike. However, Egyptian Gulf Bank (EG Bank) reported a 27% year-on-year increase in consolidated net profit after tax for the first quarter (Q1) of 2025, according to financial indicators filed to the Egyptian Exchange (EGX) on May 7th.
MIDDLE EAST
Stock markets in the Gulf ended mixed, with corporate earnings driving selective gains while broader markets remained cautious ahead of the U.S.-China trade talks this weekend. Saudi Arabia’s benchmark index dropped 0.3%, Dubai’s main share index dropped 0.4%. Abu Dhabi added 0.2%, Qatar gained 0.4%, Bahrain was up 0.3%, Oman closed flat at 4,352 and Kuwait finished flat at 8,667.
COMMODITIES
GOLD
Spot gold slipped 1.9% to $3,301.15 an ounce. U.S. gold futures fell 2.5% to $3,306 following President Trump’s announcement of a trade deal with the UK.
OIL
Brent crude futures were up $1.69, or 2.77%, at $62.81 a barrel. U.S. West Texas Intermediate
crude rose $1.79, or 3.08%, to $59.86. Both benchmarks gained on hopes of a positive outcome from the U.S.-China trade talks.
