A look at the day ahead in European and global markets

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Morning Bid Europe

Morning Bid Europe

A look at the day ahead in European and global markets

By Tom Westbrook, Chief Correspondent

 
 

Data refreshes every time you open this email. For more European market news, click here. Please send any feedback to morningbid@thomsonreuters.com.

Trade took a steadier tone in the Asia session on Tuesday, with metals prices stabilising and stocks generally recovering from a gold-and-silver-led wipeout on Monday.

Rebounds in Tokyo and Seoul were sharp and Indian shares cheered a deal U.S. President Donald Trump announced on Truth Social to lower tariffs on Indian goods in return for India quitting purchases of Russian oil.

As with other bilateral deals, there were few solid details and none around the timing but it was enough to lift the rupee by more than 1%.

 

Today's Market News

  • Gold steadies, stocks bounce and rate hike hoists Aussie dollar
  • Trading Day: Solid data over hard assets
  • Swiss National Bank Chairman says current situation not easy for policy
  • Germany's BayWa in talks with financiers and shareholders on possible changes to restructuring process
 

Better mood

 U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands, at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque/File Photo

Australia's currency traded more than 1% higher, too, after the central bank joined Japan as the only developed-world countries lifting interest rates.

The 25-basis point hike was mostly expected by markets and comes with inflation running above target and the labour market tight. Investors have ramped up bets on a follow-up hike in May, which is priced at about 75%.

Ahead, the ECB's lending survey can help investors gauge credit demand in Europe and earnings from Alphabet and Amazon later in the week anchor the U.S. calendar.

Elsewhere, market talk of a tax increase on gaming had Chinese internet stocks wobbly, while silver and gold were trying to find their footing.

Mining shares were accordingly higher in Australia, with rare earth miners also helped by Trump announcing plans for a strategic stockpile of critical minerals, backed by $10 billion in seed funding from the U.S. Export-Import Bank.

Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk's AI and space ambitions.

 

Graphics are produced by Reuters.

 

Key developments that could influence markets on Tuesday:

  • ECB bank lending survey
  • Fed Bowman speaks
  • U.S. earnings: PayPal, Pfizer, Marathon and, after market close, AMD, Amcor and Mondelez 
 

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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