A look at the day ahead in European and global markets
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By Gregor Stuart Hunter, Asia Finance & Markets Breaking News Correspondent
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Global stocks were at record highs on Wednesday as some of Asia's biggest markets returned from a holiday in euphoric mood and resumed ramping up AI-related trades.
A rally in semiconductor shares sent South Korea's benchmark KOSPI index above 7,000 points in a historic first as the Seoul market reopened, with Samsung Electronics up 13% and breaking the $1 trillion market-cap barrier. Having recently overtaken Berkshire Hathaway, the electronics giant is now closing in on Walmart.
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Oil falls on peace 'progress' |
A flag bearing the logo of Samsung Electronics flutters at the company's office building in Seoul, South Korea, April 15, 2025. REUTERS/Kim Hong-Ji
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Oil prices tumbled for a second day after U.S. President Donald Trump said on Tuesday he would pause an operation to help escort ships through the Strait of Hormuz, citing "great progress" toward a comprehensive agreement with Iran.
Chinese stocks hit their highest since January 2022 as trading resumed, after a private gauge of the services sector showed activity expanded at a faster pace in April, helped by stronger growth in new business. Japanese markets remained closed for a holiday.
MSCI's All-Country World Index hit a record high, as did its Emerging Markets benchmark and its broadest index of Asia-Pacific shares outside Japan.
Risk-sensitive currencies surged, with the Australian dollar rising 0.7% to an almost four-year high of $0.72400 and its New Zealand counterpart rose 0.9% to $0.59380, its strongest in almost two months.
In early European trades, pan-region futures were up 0.6%, German DAX futures were up 0.4% and FTSE futures were up 1%.
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Graphics are produced by Reuters
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Key developments that could influence markets on Wednesday: |
- Company earnings: Arm Holdings, Novo Nordisk, Walt Disney, Uber, Equinor, Apollo Global Management, CVS Health, Infineon, BMW, Telecom Italia
- French data: Industrial Output for March, HCOB Services PMI for April
- German data: HCOB Services PMI for April
- UK data: S&P Global Service PMI for April, Total Reserve Assets for April
- German 7-year government debt auction
- UK 9-year government debt auction
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Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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