ASIA/PACIFIC
Asian markets advanced on Thursday, showing resilience despite intensifying U.S.-China tensions and a warning from Federal Reserve Chair Jerome Powell that trade frictions could hinder the Fed’s employment and inflation goals. Mainland China’s CSI 300 closed flat at 3,772.22. Hong Kong’s Hang Seng Index ended 1.6% higher. Japan’s Nikkei 225 Index jumped 1.4% boosted by US President Trump’s remarks on “big progress” in U.S.-Japan tariff talks . Australia’s benchmark S&P/ASX 200 Index gained 0.8%.
EUROPE
European stocks closed mostly lower after the European Central Bank (ECB) delivered its seventh rate cut in a year, lowering its key rate by 25 basis points, as expected. Investors also reacted to declining German producer prices and a robust Swiss trade surplus of 13.7 billion CHF in Q1 2025. The pan-European Stoxx 600 index provisionally closed 0.1% lower. Regionally, the U.K.’s FTSE 100 was little changed for the session, while Germany’s DAX and France’s CAC 40 fell by 0.5%.
AMERICAS
U.S. markets opened on mixed footing Thursday. Investors are awaiting Netflix’s Q1 earnings report, due after the closing bell. Economic data showed: Initial jobless claims: Fell by 9,000 to 215,000. Housing starts: Dropped 11.4% in March.
AFRICA
In Egypt, the blue-chip EGX 30 Index edged 0.1% higher, driven by a 0.9% rise in Commercial International Bank. On the diplomatic front, Egypt and Kuwait pledged to strengthen economic, commercial, and investment relations, following President Al-Sisi’s state visit to Kuwait on April 14–15 at the invitation of His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.
MIDDLE EAST
Markets in the Gulf region ended mixed, as concerns over U.S. tariff policies and global economic slowdown risks tempered investor enthusiasm. Saudi Arabia’s benchmark index lost 0.7%. Dubai’s main share index rose 0.2%. In Abu Dhabi, the index concluded flat. The Qatari index was lower by 0.6%. Bahrain was off 0.4%, Oman finished flat at 4,305 and Kuwait advanced 0.6%.
COMMODITIES
GOLD
Gold retreated slightly as investors locked in profits ahead of the long weekend. Spot gold slipped 0.5% to $3,326.51 an ounce, while U.S. gold futures were down 0.2% at $3,339.90
OIL
Oil prices surged after the U.S. announced new sanctions targeting Iranian oil exports, heightening supply concerns. Brent crude futures rose $1.40, or 2.13%, to $67.25 a barrel by 11:23 a.m. ET, and U.S. West Texas Intermediate crude was at $63.94 a barrel, up $1.47, or 2.35%.
