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DJIA Futures Rebound Over 300 pts; Europe Broadly Higher as Hugo Boss Jumps 7% on Takeover Offer
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Futures for the three major US stock indices rebounded. DJIA futures rose 317 pts or 0.6%, while S&P 500 futures and Nasdaq futures gained 0.77% and 1.26%, respectively. Amid escalating tensions in Iran, the US military said it had carried out a new round of strikes on multiple Iranian targets. US inflation data for May exceeded expectations, lifting rate hike expectations. Gold futures for June delivery in New York once fell below the USD4,100 mark, hitting a low of USD4,046, and were last reported at USD4,123 per ounce, down 0.2%. Major Asia-Pacific markets were generally softer today. On the Mainland, the Shanghai and Shenzhen A-share markets closed down 0.16% and 0.68%, respectively. Hong Kong equities once fell below the 24,000 level to a near one-year trough. The HSI closed at 24,249, down 158 pts or 0.65%, marking a seventh consecutive day of declines. Taiwan’s market edged down 0.2%, the Nikkei index fluctuated and closed marginally higher by less than 0.1%, while South Korean equities fell more than 4% intraday before rebounding to close up 0.4%. Major European markets advanced across the board. The pan-European STOXX 600 rose 0.45% to 621. The UK’s FTSE 100 gained 55 pts or 0.5% to 10,310. France’s CAC rose 36 pts or 0.4% to 8,197. Germany’s DAX increased 28 pts or 0.1% to 24,223. Italy’s FTSE MIB climbed 482 pts or nearly 1% to 50,512. Spain’s IBEX 35 added 132 pts or 0.7% to 18,275. German fashion brand Hugo Boss surged 7% after its largest shareholder, UK retailer Frasers Group, proposed a EUR2 billion takeover offer. Frasers, which already holds about a 26% stake in Hugo Boss, offered to acquire the remaining shares at EUR38 per share in cash, representing a 4% premium to Hugo Boss’s Wednesday closing price. Hugo Boss stated that the offer was not initiated by the company and that it would conduct a comprehensive review of the proposal. Frasers edged up 0.2%. Mercedes-Benz rose 0.1%. The company announced on Wednesday a partnership with German startup Tytan Technologies to produce anti-drone vehicles, becoming the latest automaker to enter the defense industry. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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