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CONFIRMATION THAT CRUISE SHIP HANTAVIRUS CAN SPREAD FROM HUMAN TO HUMAN DOES NOT CHANGE RISK ASSESSMENT, REMAINS AT LOW RISK, WORLD HEALTH ORGANISATION'S SOUTH AFRICA REPRESENTATIVE SAYS ›

Low-level public-health headline with WHO stating human-to-human spread risk remains low; likely limited near-term impact beyond minor sentiment/healthcare-specific watch.

ELON MUSK'S SPACEX TO SPEND $55 BILLION ON TERAFAB PLANT IN TEXAS. ›

Large capex for TeraFab in Texas supports industrial/semicap-like supply chains and localized manufacturing demand; likely modest near-term equity catalyst unless it spills into broader funding/earnings expectations.

ZELENSKIY SAYS RUSSIA CONTINUES ATTACKS, SPURNING CEASEFIRE ›

Ceasefire rejection sustains Russia-Ukraine war risk, keeping geopolitical risk premia elevated and pressuring energy pricing (Brent) and risk sentiment.

No funds were taken from the ECB overnight loan facility, while €2,261.66 billion was deposited, the ECB says. ›

ECB overnight liquidity usage was low (no ECB loan drawings) versus sizable deposits, signaling calmer money-market stress and supportive near-term funding conditions.

IRAN DEAL CLOSE: WAR PAUSE & NUCLEAR TALKS The White House is nearing a one-page MOU with Iran to halt fighting and start nuclear talks. Iran is expected to respond within 48 hours; no deal is final. Core terms: Iran: Pause enrichment, no nukes, accept UN inspections, curb ›

Potential risk-off relief for oil/energy volatility if fighting pauses and nuclear talks progress; modest macro tailwind vs sticky inflation and higher-for-longer rates.

U.S. AND IRAN CLOSING IN ON ONE-PAGE MEMO TO END WAR, OFFICIALS SAY- AXIOS THE U.S. EXPECTS IRANIAN RESPONSES ON SEVERAL KEY POINTS IN THE NEXT 48 HOURS - AXIOS ›

Prospects for a U.S.-Iran de-escalation headline can ease Middle East supply-risk and near-term energy/inflation fears, supporting risk assets while keeping attention on oil and real yields.

BITCOIN RISES TO 3-MONTH HIGH OF $81,956 - LSEG ›

Bitcoin rebounds to a 3‑month high near $82k, signaling improved crypto risk sentiment; indirect read-through to broader risk appetite and liquidity conditions rather than a direct macro change.

European energy shares fall 2.2% after oil prices ease on reports of a US-Iran deal to end the war. ›

European energy shares slid as easing oil prices on reports of a potential US–Iran deal reduce near-term crude risk premium and margins for oil-linked firms.

EUROZONE PPI (Y/Y) MAR: 2.1% (EST 1.8%; PREV -3.0%) ›

Eurozone producer inflation jumped to 2.1% Y/Y from -3.0%, signaling stickier underlying inflation and raising odds of firmer-than-expected ECB policy; modestly bearish for rate-sensitive equities and EUR via growth/inflation uncertainty.

EUROZONE PPI (M/M): 3.4% (EST 3.4%; PREV -0.7%; PREV R -0.6%) ›

Eurozone producer prices jumped sharply, signaling renewed input-cost pressure and potential upside risk to consumer inflation; raises odds of tighter ECB reaction and weighs on rate-sensitive risk assets.

Germany’s tax revenue is seen remaining relatively stable despite economic headwinds, according to government sources cited by Handelsblatt. ›

Relatively stable German tax receipts suggest fiscal steadiness, slightly easing concerns over EU growth funding needs; limited direct read-through to US risk assets.

U.S. stock futures add to gains after Axios says Washington expects Iranian replies on key points within 48 hours. ›

Iran nuclear/diplomacy timing reduces near-term Middle East escalation risk, easing oil and risk-premium pressure; supports risk assets and broad indices.

Silver climbs more than 5%, with spot prices at $77.17/oz. ›

Higher silver prices signal a firmer risk/hedging bid, but the move is modest for broader risk assets; also can reflect real-yield and USD expectations.

A one-page memo to end the war between the U.S. and Iran is nearing completion, officials say, according to Axios. ›

De-escalation headlines modestly ease geopolitical risk premium, potentially supporting risk assets and reducing tail risk for oil prices.

The deal would involve both the U.S. and Iran removing restrictions on passage through the Strait of Hormuz, Axios says. ›

Potential easing of Strait of Hormuz passage restrictions could reduce geopolitical oil-shipping risk, supporting energy prices but also lowering tail-risk for inflation and yields.

Under the deal, Iran would commit to a nuclear enrichment moratorium, while the U.S. would ease sanctions and unfreeze billions of dollars, Axios reports. ›

Potential easing of U.S. sanctions on Iran and nuclear-enrichment moratorium could reduce geopolitical oil-risk premium and marginally ease inflation/yield pressures via improved energy supply outlook.

Iran is expected to respond on several key points within 48 hours, according to the U.S., Axios reports. ›

Potential escalation around Iran raises Middle East supply-risk premium for oil, keeping energy and inflation expectations pressured.

US & IRAN CLOSING IN ON ONE-PAGE MEMO TO END WAR: AXIOS #BIGBREAKING ›

Ceasefire/war-ending talks between the US and Iran could ease Middle East supply-risk, slightly dampening oil-price volatility and tail risks to inflation and real yields.

China to issue 84 billion yuan in yuan-denominated treasury bonds in Hong Kong, finance ministry says. ›

China’s yuan-denominated bond issuance in Hong Kong modestly supports regional funding/liquidity and sentiment toward CNH, but is unlikely to shift US equities materially unless it signals broader easing or credit stress.

Norway to allocate 2.8 billion NOK to Ukraine through PURL, government says. ›

Norway’s additional Ukraine aid is modest for global markets; limited direct spillover to rates, oil, or FX beyond localized geopolitical risk.

Fuel supply at Lufthansa hubs is secured until end-June, CFO says. ›

Near-term operational risk for Lufthansa eased (fuel supply secured to end-June), slightly reducing disruption risk for European airlines; broader market effect likely limited unless fuel security deteriorates.

India will collaborate with Vietnam on critical minerals, rare earths, and energy, PM Modi says. ›

Positive signal for supply-chain security in critical minerals/rare earths and potential energy co-operation, modestly supportive for metals and industrial capex narratives; limited near-term impact on US equities given headline scale.

UK OFFICIAL RESERVE CHANGES (USD) APR: 1263M (PREV -7884M) ›

A sharp increase in UK official reserves (USD) can signal FX/stability actions or balance-of-payments pressures; mild bearish tone for UK-related FX/financial risk sentiment, but likely limited broader market impact unless sustained.

UKS&P GLOBAL COMPOSITE PMI: 52.6 (EST 52.0; PREV 52.0) ›

UK & global composite PMI beat expectations, signaling modest economic re-acceleration; mildly supports cyclicals, but doesn’t offset high valuations and higher-for-longer rates.

UK S&P GLOBAL SERVICES PMI APR F: 52.7 (EST 52.0; PREV 52.0) ›

UK S&P Global services PMI forecast beats estimates, suggesting modest underlying demand resilience in services (inflation/services side less disinflationary than hoped). Likely supportive for UK cyclicals but limited given already range-bound markets and high valuations.

The ECB is paying close attention to any signs of inflation expectations becoming unanchored, Cipollone says. ›

ECB warning about inflation expectations re-anchoring risk keeps European rates sensitive; could support higher discount rates modestly for equities via real-yield channel.

ITALY RETAIL SALES (Y/Y): 3.7% (EST 1.4%; PREV 1.6%) ›

Italy retail sales beat expectations, signaling firmer consumer demand in the Eurozone and supporting cyclical spending, modestly easing near-term recession/inflation fears.

ITALY RETAIL SALES (M/M) MAR: 0.8% (EST -0.4%; PREV 0.0%) ›

Stronger-than-expected Italy retail sales supports euro-area demand and can marginally ease recession/inflation concerns, but effects are likely limited given still-restrictive Fed/real-yield backdrop.

EUROZONE S&P GLOBAL COMPOSITE PMI: 48.8 (EST 48.6; PREV 48.6) ›

Eurozone composite PMI at 48.8 signals ongoing contraction/soft demand, increasing risk of weaker regional growth and putting mild pressure on cyclicals and rate-sensitive assets.

EUROZONE S&P GLOBAL SERVICES PMI APR F: 47.6 (EST 47.4; PREV 47.4) ›

Eurozone services PMI forecast edged higher to 47.6 but remains below 50, signaling continued contraction; mildly bearish for euro-area cyclicals and rate-sensitive demand.

GERMANY S&P GLOBAL COMPOSITE PMI: 48.4 (EST 48.3; PREV 48.3) ›

Germany composite PMI remains below 50, signaling continued contraction/weak activity in the euro-area real economy; mild drag on cyclicals and industrial demand expectations.

GERMANY S&P GLOBAL SERVICES PMI APR F: 46.9 (EST 46.9; PREV 46.9) ›

Germany services PMI forecast at 46.9 (below 50) signals continued contraction, weighing on Eurozone growth outlook and risk assets; mildly bearish for cyclicals and USD/EUR via rate-expectations.

FRANCE S&P GLOBAL COMPOSITE PMI: 47.6 (EST 47.6; PREV 47.6) ›

France composite PMI at 47.6 signals contraction/soft activity in EU; modest negative for cyclicals and risk appetite amid already weak EU growth.

FRANCE S&P GLOBAL SERVICES PMI APR F: 46.5 (EST 46.5; PREV 46.5) ›

France S&P Global services PMI forecast at 46.5 signals continued contraction in euro-area services activity, adding pressure to already-weak EU growth and raising downside risk to consumer/investment demand.

TotalEnergies teams up with Dell Technologies and NVIDIA to sign a contract for designing and installing Pangea 5. ›

Data-center/AI infrastructure collaboration supports capex demand for power and compute ecosystems; modest positive for energy-integrated tech buildout while broader equity market remains yield/valuation constrained.

Iran’s Araqchi urged, in a phone call with his Saudi counterpart, continued diplomatic engagement between regional countries to prevent escalation, according to Telegram. ›

De-escalation tone on Middle East diplomacy slightly eases immediate oil-shock risk, marginally supportive for energy-linked risk assets but still leaves geopolitics headline-sensitive.

ITALY S&P GLOBAL COMPOSITE PMI: 50.5 (EST 48.4; PREV 49.2) ›

Italy composite PMI at 50.5 vs 48.4 estimate suggests a modest improvement in euro-zone activity; mildly supportive for cyclicals and European risk sentiment, but not enough to offset broader growth/inflation and yield risks.

ITALY S&P GLOBAL SERVICES PMI APR: 49.8 (EST 47.9; PREV 48.8) ›

Italy services PMI slightly below/under gains vs expectations; signals marginal softening in euro-area demand, modestly negative for cyclicals and euro sentiment.

BMW CEO expresses strong belief that China will stay its biggest market. ›

BMW reiterates China as key demand driver, supporting autos/exposure to China recovery while signaling continued regional concentration risk amid uneven growth.

An arms depot at an Iranian Kurdish opposition camp north of Erbil, Iraq, was hit by a drone attack, according to security sources. ›

Drone attack near Erbil raises Middle East security risk, a mild downside pressure via crude-energy volatility and risk-premium; broader equity impact likely limited unless it escalates into sustained oil disruption.

The BMW CEO says the US administration fully supports the company’s export model. ›

Support for BMW’s US export model is mildly positive for autos/exposed manufacturers, but limited macro impact versus bigger drivers like yields and oil.

China’s foreign ministry urges a prompt response to international calls for ensuring safe passage through the strait. ›

Geopolitical risk around a key shipping strait raises tail risk for global trade and oil logistics, mildly pressuring risk assets and supporting safe-haven FX/rates.

China’s foreign ministry: Wang Yi affirms China as a reliable strategic partner of Iran. ›

China-Iran strategic alignment raises Middle East geopolitical risk premium and potential oil/inflation spillovers, but the headline is more diplomatic than immediately policy/market-actionable.

China’s foreign ministry emphasizes the importance of sustaining negotiations. ›

Neutral-to-slightly positive tone for trade/geo risk via continued negotiations; limited direct impact unless talks yield concrete concessions.

China’s foreign ministry calls for an urgent and complete halt to hostilities. ›

Ceasefire call modestly reduces geopolitical tail risk, but headline suggests ongoing conflict risk remains and keeps oil/FX volatility elevated.

SPAIN S&P GLOBAL COMPOSITE PMI: 48.7 (EST 51.9; PREV 52.4) ›

Spain composite PMI below expectations signals weak Euro-area demand momentum, adding mild risk to EU growth and keeping pressure on cyclical/consumer-exposed equities.

SPAIN S&P GLOBAL SERVICES PMI APR: 47.9 (EST 51.9; PREV 53.3) ›

Spain services PMI fell to contraction (47.9 vs higher estimates), signaling softer euro-area demand and adding to growth fragility concerns.

G7 countries will address critical minerals supply chain security on Wednesday, France’s Forissier says. ›

G7 action to bolster critical-minerals supply chains is mildly supportive for supply security and long-term industrial/mining capex, but the near-term market impact is limited.

NHTSA: Tesla recalls some U.S. vehicles over delayed rearview camera images that may increase crash risk. ›

NHTSA recall on Tesla’s rearview camera delay raises near-term regulatory/vehicle-safety headlines; typically modest impact versus broader macro/yields but can weigh on auto sentiment and margins if remediation costs rise.

Sanchez: Spain requests EU Commission activate blocking statute over U.S. sanctions on the ICC. ›

Spain’s request to trigger the EU blocking statute amid U.S. ICC-related sanctions raises geopolitical/legal friction risk for EU–U.S. relations and could modestly affect cross-border financial flows and markets (limited direct impact unless sanctions expand to broader sectors).

Europe’s STOXX 600 advances 0.93%. ›

Mild positive move in Europe’s broad market (STOXX 600 +0.93%) suggests improving risk appetite, but with valuations and real yields still key constraints.

UK FTSE 100 advances 1.08%, German DAX climbs 0.96%. ›

European equities are edging higher, suggesting mild risk-on sentiment despite still restrictive financial conditions and yield sensitivity.

French CAC 40 advances 0.88%, Spain’s IBEX climbs 0.97%. ›

European indices modestly higher; risk appetite slightly improved, with limited macro surprise implied.

UK government bond yields ease 2–5 basis points across maturities at the open. ›

UK gilt yields easing modestly supports rate-sensitive risk assets; signals slight relief in UK duration/financing costs, with limited broader impact unless sustained.

FRANCE MANUFACTURING PRODUCTION (Y/Y): 1.6% (PREV 0.8%) ›

France factory output growth beat expectations, modestly supporting EU cyclicals and slightly easing concerns about weakening demand in the euro area.

FRANCE MANUFACTURING PRODUCTION (M/M): 1.2% (PREV 0.0%; PREV R -0.1%) ›

France manufacturing output surprised higher, a modest positive read-through for Eurozone industrial demand; supportive for cyclicals but unlikely to shift the broader “higher-for-longer” and sticky-services inflation backdrop.

FRANCE INDUSTRIAL PRODUCTION (Y/Y): 0.9% (EST 0.3%; PREV -0.3%) ›

France industrial production beat estimates, signaling modest improvement in Eurozone demand; mildly supportive for cyclicals but limited given still-weak EU growth backdrop.

FRANCE INDUSTRIAL PRODUCTION (M/M) MAR: 1.0% (EST 0.5%; PREV -0.7%; PREV R -0.9%) ›

France industrial output beat expectations, suggesting firmer EU growth momentum and easing near-term recession concerns, supportive for cyclical industrials and euro sentiment.

Red alert sirens sound in northern Israel ›

Geopolitical escalation in northern Israel raises near-term Middle East risk and energy/oil volatility, pressuring risk assets and lifting inflation-risk expectations.

CMA CGM says its ship San Antonio came under attack on Tuesday in the Strait of Hormuz. ›

Geopolitical attack in the Strait of Hormuz raises immediate Middle East shipping and oil-supply risk, likely pressuring energy prices, inflation expectations, and real yields.

Italy stands in solidarity with the UAE, saying the attacks against it are unjustified and must cease at once. ›

Diplomatic stance on UAE attacks likely shifts geopolitical risk sentiment but is unlikely to drive immediate macro/earnings unless escalation affects oil supply.

Sweden Swedbank/Silf PMI Services Apr: 52.5 (prev 55.7; prev R 55.9) ›

Sweden services PMI fell to expansion but notably below prior levels, signaling softer regional demand; mildly negative for EU/Nordics growth sentiment and credit expectations, with limited broader US impact unless it spreads.

Swedbank/Silf PMI Composite: 53.8 (prev 55.9; prev R 56.0) ›

Swedbank/SILF PMI Composite eases to 53.8 from 55.9, signaling cooling Swedish growth momentum; modest negative for Nordic cyclicals but unlikely to swing broader markets given modest contraction within expansion.

KOSPI in Seoul closes up 6.45%, marking its highest-ever finish. ›

South Korea’s KOSPI closing at a record high signals improving risk appetite and momentum in Asian equities; modest positive spillover for regional tech/industrial exporters.

South Korea’s Blue House reports uncertainty as of yesterday over whether the HMM ship was attacked. ›

Geopolitical/maritime attack uncertainty raises shipping and Middle East-linked risk premia, potentially keeping energy transport costs and crude volatility elevated; broader equity effect likely limited unless it escalates into wider disruptions.

South Korea’s Blue House reports engine room fire on HMM ship in the Persian Gulf. ›

Shipping/Red Sea–Persian Gulf disruption risk likely lifts near-term oil/tanker-insurance volatility, with spillover to energy prices and inflation expectations.

South Korea’s Blue House sees no need to reassess Trump’s call to take part in Project Freedom for now. ›

No immediate policy shift from South Korea regarding U.S. involvement; likely limited near-term effect on risk premium or trade outlook.

Australia’s ASX 200 index rises 1.3% to finish at 8,793.60. ›

ASX 200 up ~1.3% signals broadly positive risk appetite; likely supportive for regional cyclicals but no clear macro shock indicated.

HONG KONG SCHOOL TO SEEK FEEDBACK, REVIEW PHONE BAN AFTER STUDENT OUTCRY-SCMP ›

Hong Kong school policy review (phone ban) is a local governance/social issue with minimal direct macro or market linkage; limited relevance to major asset drivers (rates, oil, USD, earnings).

FSB RAISES ALARM OVER PRIVATE CREDIT VULNERABILITIES- FT ›

FSB warning on private credit vulnerabilities raises default/liquidity risk concerns, pressuring credit-sensitive assets and risk appetite.

Ukraine’s FM accuses Russia of violating a ceasefire launched by Kyiv. ›

Ukraine-Russia ceasefire violation raises geopolitical risk, typically supporting safe-haven demand and increasing tail risk for energy/insurance costs (headline risk for oil and European risk assets).

Iran’s Araqchi says cooperation with China will be even stronger in current circumstances, calling Beijing a close friend, ISNA reports. ›

Iran–China alignment may modestly lift geopolitical risk around energy supply routes, keeping oil-sensitive assets pressured even if no immediate supply disruption is cited.

Sweden CPIF Ex Energy (M/M): -0.6% (est -0.3%; prev -0.3%) ›

Swedish core inflation excluding energy prints softer-than-expected on a month-on-month basis, marginally easing Nordic/EU rate-inflation concerns but unlikely to materially shift global Fed-driven real-yield dynamics.

Sweden CPIF Ex Energy (Y/Y): 0.0% (est 0.4%; prev 1.1%) ›

Lower-than-expected Swedish core inflation should ease near-term pressure on regional yields and keep EUR/Scandi rates expectations contained.

Sweden CPIF (M/M): -0.6% (est -0.1%; prev -0.6%) ›

Sweden CPI inflation print came in hotter than expected on a monthly basis; risks reinforcing sticky European inflation expectations and marginally pressure rate-cut odds (HICP/CPIF-linked bonds, EUR rates).

Sweden CPIF (Y/Y): 0.8% (est 1.2%; prev 1.6%) ›

Sweden CPIF below estimates suggests softer underlying inflation, slightly easing pressure on Nordic/European rate expectations and trimming near-term inflation risk.

Sweden CPI (M/M): -0.6% (est -0.2%; prev -0.6%) ›

Sweden CPI undershoot (m/m prints cooler than expected), modestly easing local inflation pressure; likely supportive for Euro-area rates expectations at the margin via inflation momentum rather than a major macro shift.

Sweden CPI (Y/Y) Apr P: -0.1% (est 0.4%; prev 0.5%) ›

Sweden CPI undershoots expectations, easing near-term European inflation pressure; mildly supportive for EUR rates expectations and risk sentiment, but limited given broader US/real-yield focus.

DEEPSEEK NEARS $45B VALUATION AMID TALKS WITH CHINA FUND: FT ›

AI/tech sentiment mildly supported by a higher implied valuation for DeepSeek amid reported China funding talks; could boost selective AI infrastructure and chip demand expectations, but remains headline- and funding-risk dependent.

Indonesia’s debt market to continue seeing missed payments and restructurings, Fitch says. ›

Fitch flagging ongoing missed payments and restructurings in Indonesia’s debt increases EM credit risk and can pressure regional/sov sovereign bond spreads; limited direct effect on US equities but negative for risk appetite and credit-sensitive assets.

THE CHINA INTEGRATED CIRCUIT INDUSTRY INVESTMENT FUND IS SEEKING TO LEAD THE INVESTMENT INTO DEEPSEEK- FT ›

China’s IC fund reportedly seeking to back DeepSeek signals continued state support for domestic AI semiconductor supply chains; modest upside for AI/CHIPs sentiment but limited immediate macro impact given valuations and broader yield sensitivity.

DEEPSEEK NEARS $45BN VALUATION AS CHINA'S 'BIG FUND' LEADS INVESTMENT TALKS - FT ›

China/AI investment sentiment: suggests continued funding momentum for large-model capex, supporting select semis/cloud and risk appetite, but measured given uneven China growth and valuation sensitivity.

Gold and silver rallied in India, mirroring global trends amid easing West Asia tensions and a weaker U.S. dollar supporting demand-CNBC ›

Bullish move for precious metals driven by weaker USD and reduced West Asia risk; modest positive for inflation-hedge demand but limited direct equity impact.

Barclays raises Standard Life target price to 690p from 660p. ›

Positive analyst read-through for UK wealth/asset management; modest support for defensive, fee-based financials with limited macro spillover.

Australia warns of arrests as 13 people linked to Isis set to return from Syria-scmp ›

Terrorism/returnee risk adds geopolitical headline risk, but near-term effects are likely limited versus rates/oil drivers.

North Korea’s constitutional revision formally designates Kim Jong Un as head of state. ›

Geopolitical risk in the Korean peninsula; typically supportive of safe-haven demand and can raise defense-related expectations, but limited direct read-through to US equities unless tensions escalate.

Jefferies increases Credit Acceptance Corp target price to $560 from $455. ›

Jefferies’ target increase for Credit Acceptance signals improving earnings/credit outlook for auto-lending/consumer credit, modestly supportive for the group but not a broad macro catalyst given range-bound markets and high real yields.

Citigroup reduces GSK target price to 2,100p from 2,250p. ›

Broker target cut for GSK likely modestly negative for UK pharma sentiment; limited macro/sector spillover unless more downgrades follow.

Daimler Truck Q1 2026 Earnings - Unit Sales EUR68.85B - Incoming Orders 114,043 Units Vs 76,222 Units Y/Y - Still Sees FY Adj. EBIT EU3.2B To EU3.7B - Incoming Orders At Trucks North America Grew By 86% Compared To Previous Year ›

Stronger-than-expected truck demand (especially North America) and rising incoming orders should support industrial cyclicals and earnings sentiment, but the wider market remains sensitive to yields and sticky inflation.

American healthcare costs drive global imbalances-ft ›

Higher US healthcare costs reinforce global imbalances and add to sticky services/inflation pressures, which can keep real yields elevated and cap equity multiples.

Chinese foreign minister: the region is facing a critical turning point in its trajectory. ›

China diplomatic warning suggests cautious macro outlook for regional growth; likely mild drag on global risk sentiment and cyclicals, with limited immediate policy clarity.

Equinor Q1 2026 Earnings - Total Rev. $27.84B (est $28.81B) - Adj Oper Income After Tax $2.86B (est $2.64B) - Avg Production 2.31M BOE/D (est 2.24M) - 2026 Production Growth Guidance Unchanged - Expected 2026 Share Buy-Back Is Up To $1.5Bln ›

Equinor beat on adjacent operating income and higher buyback supports North Sea/European energy cash flows, but slight revenue miss and oil-price sensitivity keep sentiment mildly positive rather than bullish; watch oil volatility and energy equities’ correlation with crude moves.

Deutsche Lufthansa Q2 2026 Earnings - Rev. EU8.75B (est EU8.49B) - Loss/Shr EU0.55 VS. Loss/Shr EU0.74 Y/Y - Adj. EBIT Loss EIJ612M (est Loss EU650M - Adj Ebit Margin -7% (est -7.66%) - Net Loss EU665M (est Loss EU512.6M) - Adj Free Cash Flow EU1.38B, +65% Y/Y - Maintains ›

Lufthansa results slightly better than expectations (smaller loss, improved adj. FCF) but still signals weak profitability for European airlines; marginally supportive for travel/transport sentiment rather than a broad market catalyst.

INDIA (APR) MANUFACTURING & SERVICES PMI ACTUAL: 58.20 VS 57 PREVIOUS;EST 58.30 ›

India PMI beat (manufacturing & services) supports EM growth outlook and risk appetite; limited direct effect on US range-bound equities but may modestly lift cyclicals/EM-related flows.

INDIA (APR) S&P GLOBAL SERVICES PMI ACTUAL: 58.8 VS 57.5 PREVIOUS;EST 57.9 ›

India services activity beat expectations, mildly supportive for EM demand and risk appetite; limited direct impact on US growth/yields given already range-bound equities.

Jefferies increases Cummins’ target price to $775 from $700. ›

Bullish analyst revision supports industrial/capital-goods sentiment; tailwind for truck/engine demand and pricing outlook tied to Cummins’ earnings visibility.

USD/JPY falls 1.45% to 155.60 in a sharp move lower. ›

USD/JPY sharp drop suggests a risk-on tilt and/or yield/macro reassessment; can ease imported inflation pressure in Japan but may affect global FX carry and US export competitiveness.

Equinor’s 2026 share buyback programme is expected to reach up to $1.5 billion. ›

Equinor buyback supports sentiment for European energy; mild tailwind amid volatile Brent and Middle East risk, but limited macro shift versus oil and real-yield drivers.

Jefferies cuts Shopify Inc target price to $140 from $150. ›

Jefferies lowered Shopify’s price target, signaling softer near-term expectations (valuation-sensitive for growth/e-commerce). Likely mild drag on consumer/commerce discretionary sentiment; broader market effect limited given range-bound tape.

KOSPI climbs 7% in Seoul, reaching an all-time high. ›

Strong KOSPI rally to an all-time high suggests broad risk-on momentum for Korean equities, likely supported by improving sentiment around tech/exports and easing near-term concerns.

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