- Market Round Up: Global equity markets had a relatively quiet day yesterday, with the S&P500 -0.28%, the Nasdaq -0.31% and Europe Stoxx 600 -0.53%, as Iran-US geopolitical concerns impacted the market after President Trump said Iran had 15 days at most to reach a deal over its nuclear program. On the macro side, Ireland’s finalised CPI for Jan was revised down to 2.5% YoY. The US trade balance widened to $70bn from $53bn as imports rose 3.6%, and exports fell -1.7%. On the US jobs front, Initial Claims slipped to 206k from 229k but Continuing Claims remained high at 1,869k. Pending Home sales fell -1.2% YoY versus +2.3% estimates. Gold miner, Newmont reported good results after market, driven by gold prices, but the stock fell after the company said production would decline 10% in 2026. AppLovin rose 6% in the aftermarket on reports that the mobile advertising powerhouse is laying the groundwork to build its own social networking platform, after failing to acquire TikTok’s ex-China business.
- Day Ahead and Market Drivers: Equities: China remains closed for Lunar New Year’s holiday, but Hong Kong (-1.0%) and Tokyo (-1.1%) are both weak this morning following the US’s lead. Today on the macro front the market will be focused on the UK’s Public Sector Net Borrowing which recorded a £30bn surplus (largest on record), and UK Retail Sales that rose more than expected at 5.5% YoY (3.6% est, 2.5% previous). Later today, we get a raft of PMI data out of Europe and the US, where Composite data is expected to be generally slightly better in the Eurozone, flat in the US and down in the UK. From the US, we also get the PCE Price index for December (+2.9% YoY est.), Real Personal Spending, and initial GDP readings for Q4 (+3.7% est). Finally, New Homes Sales are expected to be 730K for December, flat on the prior month
- Stocks in focus: IRES (Overweight PT €1.32, +22% upside) – In person meeting with CEO and CFO post FY25 results. Kingspan Group (Overweight PT €91 +14.2% upside) – Update post solid FY25 results
- Bonds: Yesterday, US bond yields fell 2bps, but most Eurozone government bonds were largely unchanged. For the bond markets, the key data today will be the US Core PCE Price and GDP data.Bond issuance is light today with only the UK issuing 28, 92 and 182 day bills today.The Feed’s Bostic, who is seen as a slightly hawkish, is speaking later today. Musalem and Logan will also be speaking.
- Commodities: After a strong (+1.8%) day yesterday, oil prices continue to rise this morning with WTI up 0.9%. Gold and silver are also up 0.5% and 0.6% respectively, as geopolitics remains the main driver.
Overview
Investment Solutions
Retirement Planning Solutions
SDIO
Application Forms – Intermediaries
Creating impact for your clients, their financial goals, and their future
Overview
Focused on your organisation, funding its growth, and unlocking its full potential
Debt Capital Markets
Probate Services
Dedicated to institutional wealth, stakeholder value, and a sustainable future
Overview
Investment Services
Stewardship
Supportive of you, your custodial vision, and your philanthropic goals
X