Global Stocks Rise On Easing Trade Fears, Company Earnings

Stock markets rose Thursday on easing trade tensions and thanks to some strong company earnings, analysts said

London, (UrduPoint / Pakistan Point News - 6th Feb, 2025) Stock markets rose Thursday on easing trade tensions and thanks to some strong company earnings, analysts said.

London reached a fresh record high in morning deals, with the Bank of England expected to cut its key interest rate later in the session.

The capital's FTSE 100 was boosted also by pharmaceutical giant AstraZeneca, the index's most valuable company, whose share price jumped nearly five percent on a positive outlook following jump in annual net profit.

Japanese car maker Nissan closed up more than seven percent in Tokyo after reports said it was looking for a new partner amid talk that its flagged tie-up with Honda would not go ahead.

Honda fell four percent.

"For all the doom and gloom, talk of trade wars and tariffs, and broad geopolitical risk, investors keep putting money to work at companies with good valuations," noted Neil Wilson, analyst at Tip Ranks trading group.

Global equities slumped early in the week after US President Donald Trump announced hefty tariffs on China, Canada and Mexico.

Sentiment has improved, however, after Trump reached deals with the US neighbours to delay implementation of the measures.

The US Postal Service had meanwhile reversed a decision to halt parcels from China and Hong Kong.

There were solid gains across European stock markets Thursday after rallies in Asia and on Wednesday in the United States.

Shares in French bank Societe Generale soared more than 10 percent in Paris after posting better-than-expected results.

Frankfurt stocks were boosted by official data showing German industrial orders rebounded more than expected in December.

Wall Street ended higher on Wednesday, despite disappointing earnings this week from Google-parent Alphabet that weighed on the tech sector.

Alphabet tanked more than seven percent in New York, while Amazon was off more than two percent.

Ongoing uncertainty about the economic outlook helped haven gold to a new high above $2,882 an ounce.

On currency markets, the yen built on its recent gains against the dollar fueled by expectations the Bank of Japan will continue hiking interest rates as inflation remains elevated.