The fallout from the U.S. crackdown on Huawei intensified this week, as trade negotiations between Washington and Beijing reportedly hit a roadblock.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
Google has decided to stop licensing its Android operating system to Huawei, in order to comply with a U.S. trade blacklist.Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Iran has quadrupled its output of nuclear material amid rising tension with the U.S. and dangerous escalations in the Middle East.Energyread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
"Unlike Bernie Sanders or Elizabeth Warren or Kamala Harris, Biden's against 'Medicare for All,'" the "Mad Money" host says.Mad Money with Jim Cramerread more
European equities closed higher on average Friday after EU leaders hashed out a deal on migration, although underlying market sentiment was soured somewhat by ongoing anxiety over ongoing global trade frictions.
The pan-European Stoxx 600 ended the session up 0.81 percent provisionally, supported by strong trade seen in markets overseas. On the week however, the STOXX 600 dropped 1.32 percent.
During Friday's session, the U.K.'s FTSE 100 popped 0.28 percent, while France's CAC 40 and Germany's DAX extended gains, closing up 0.91 and 1.06 percent respectively. Almost all sectors finished the day in the black.
A slew of industries posted sharp gains by the close, with the Technology basket closing up 1.55 percent and Industrials rising 1.6 percent. Europe's Basic Resources sector closed up 0.83 percent with Anglo American leading the charge. Shares of the miner rose 3.6 percent, after it said that it expected earnings through the first six months of 2018 to be at least 20 percent higher than the same period last year.
Looking at individual stocks, Spain's Caixabank closed up over 3 percent after the lender announced it had agreed to sell 80 percent of its real estate assets to private equity fund Lone Star. The news comes as Spain's banks continue to look to offload impaired real-estate and mortgages after the global financial crisis burst the country's real estate bubble in 2008.
Sticking with the top performers, Osram was Europe's biggest gainer, closing up almost 6.5 percent after Bank of America Merrill Lynch doubled its rating on the stock, raising it to "buy" from "underperform". This despite other brokers slashed their rating or target price on the lighting firm.
Meanwhile, Galapagos tumbled, closing down 4.38 percent, after reporting disappointing drug trial results. RBC Capital Markets subsequently moved to downgrade its target price for the stock to $94 from $100.
Market focus is largely attuned to concerns over global trade, a week before initial U.S. and Chinese tariffs are due to take effect. President Donald Trump’s administration is set to activate tariffs on Chinese goods worth around $34 billion on July 6, which is then widely expected to trigger a tit-for-tat response from Beijing.
Elsewhere, oil prices extended gains during afternoon trade, as investors awaited for the U.S. to impose sanctions on Iran. Around Europe's close, Brent hovered at $79.45, while U.S. crude traded above $74 per barrel.
On Wall Street, stocks posted sharp gains Friday morning with the Dow marking gains of some 250 points around Europe's close.
Back in Europe, political leaders reached a tentative agreement on migration after almost 10 hours of talks at a crunch summit in Brussels, Belgium, on Thursday. The deal, which falls short of an overall agreement to revise the EU’s asylum laws, is set to create new “centers” for housing and processing asylum seekers.
A European consensus on migration — one of the bloc’s most contentious issues — is thought to have helped German Chancellor Angela Merkel avert a political crisis at home.
On the data front, euro zone inflation rose to its highest rate in more than a year this month as surging energy prices lifted price growth above the European Central Bank's (ECB) target. Data from Eurostat showed that inflation among the 19 countries sharing the euro edged higher to reach 2 percent in June, up from 1.9 percent a month earlier. The ECB targets inflation at just below 2 percent.
Elsewhere, Britain's economic growth has been upwardly revised for the first quarter of the year after construction data was found to be stronger than earlier estimates.