🗓 Monday, November 10, 2025
► Europe sharply higher – relief rally on shutdown progress; Tech & financials lead
European markets rallied strongly at the start of the week as hopes for a US government funding deal boosted global risk sentiment and investors returned to AI related stocks. Stoxx 600 +1.5%, DAX +1.8%, CAC 40 +1.5%, FTSE 100 +0.9%, FTSE MIB +2.3%, IBEX +1.5%. Bund 10Y 2.68% (+1bp), UK 10Y 4.48% (+1bp). EUR/USD 1.157 (+0.0), GBP/USD 1.317 (+0.1%). Diageo +7% after appointing Dave Lewis as CEO following last week’s profit warning; Novo Nordisk +2.4% after partnership announcement with India’s Emcure; Camurus +12.9% and Zealand Pharma +3.8% on obesity drug optimism. Banks and tech gained over 2%, driving the Stoxx 600 to its biggest one-day advance since June. The DAX outperformed.
► Wall Street higher – AI stocks rebound; optimism over shutdown deal lifts sentiment
US equities rallied sharply as reports signaled progress toward ending the historic government shutdown. S&P 500 +0.9%, Nasdaq 100 +1.5%, Dow +0.4%. Nvidia +3.5%, Broadcom +2.5%, Micron +4%, and AMD +3.5% led the AI sector rebound; TSMC reported slower growth but stayed positive. Pfizer +2% after announcing a $10B acquisition of obesity drug developer Metsera; Robinhood +4% after plans to give investors access to private AI firms; Instacart +8% after strong earnings; airline stocks up 1–2% on optimism over resumed government operations / improved air travel conditions. Treasuries fell modestly as yields ticked up (10Y +3bps to 4.13%). The USD was little changed.
► Asia higher – tracking Wall Street gains; China data steady; chip optimism supports
Asian markets started the week higher, boosted by Wall Street’s strong close on Friday that we traded so well and optimism around the US political breakthrough. Nikkei +1.3%, Kospi +3.0%, Hang Seng +1.6%, Shanghai +0.5%, Shenzhen +0.2%, ASX +0.8%, Nifty +0.3%. USD/JPY 154.0 (+0.4%), USD/CNY 7.12 (-0.0%). AI and semiconductor momentum continued, with Nvidia’s rebound lifting sentiment across the region. China’s October inflation data slightly above expectations supported cautious optimism, while the suspension of rare earth export restrictions also improved the trade outlook.
Subscribe to see more
