📆 Thursday, November 06, 2025
► Europe mixed – earnings & BoE pause in focus; Rate optimism supports sentiment
European equities were mixed as investors digested a fresh wave of earnings and central bank developments. Stoxx 600 -0.1%, DAX -0.2%, CAC 40 -0.6%, FTSE 100 -0.1%, FTSE MIB -0.1%, IBEX +0.3%. Bund 10Y 2.66% (-1bp), UK 10Y 4.43% (-3bps). EUR/USD 1.154 (+0.4%), GBP/USD 1.310 (+0.5%). The Bank of England kept rates at 4.0% in a narrow 5–4 vote, signaling a likely rate cut in December and boosting gilts. AstraZeneca +0.3% after strong results but cautious guidance; Rheinmetall +2.2% on robust Q3 profit; DHL +5.6% after upbeat results, while Commerzbank -2.9% and Diageo -6% after profit warnings. Overall sentiment stayed positive, supported by hopes of a global easing cycle.
► Wall Street higher – dip buying resumes; Fed rate-cut bets rise again
US equities extended gains as risk appetite improved following Wednesday’s strong rebound and dovish signals from the BoE. S&P 500 +0.25%, Nasdaq 100 +0.30%, Dow +0.10%. Nvidia +1.1%, Arm +5% on bullish AI chip outlook; Qualcomm -1.1% despite strong earnings and raised guidance. Snap +6% after AI partnership with Perplexity; Duolingo -7% on weak forecast. Treasuries rallied after job cut data showed the highest October layoffs in 22 years, boosting December rate-cut odds to above 60%. 10Y yield 4.11% (-4bps). The USD retreated further, posting its largest drop in three weeks, while gold regained the $4,000 level also supported by the slide in the USD (DXY -0.35%).
► Asia higher – Wall Street rebound lifts sentiment; AI rally continues
Asian equities traded mostly higher, following overnight strength in the US. Nikkei +1.3%, Kospi +1.8%, Hang Seng +1.2%, Shanghai +0.4%, Shenzhen +0.9%, ASX +0.7%, Nifty +0.4%. USD/JPY 153.4 (-0.4%), USD/CNY 7.11 (-0.2%). Nvidia and AMD-led optimism extended to Asia’s chipmakers, while speculation over a potential SoftBank–Marvell merger lifted semiconductor sentiment. Chinese markets were steady, with investors awaiting new fiscal announcements following weaker manufacturing data earlier this week.
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