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European equity markets climbed to their highest level in two weeks on Thursday as investors weighed a flood of corporate results alongside stronger-than-expected U.K. economic data.

Figures from the Office for National Statistics revealed that Britain’s economy expanded by 0.4% in June, recovering from a 0.1% dip in May and outpacing forecasts for 0.2% growth.

In index performance, London’s FTSE 100 gained 0.1%, while France’s CAC 40 and Germany’s DAX each advanced 0.6%.

Among individual movers, German meal-kit provider HelloFresh (BIT:1HFG) sank 16% after cutting its full-year forecast, citing weaker demand and the impact of a stronger euro.

Industrial group Thyssenkrupp (BIT:1TKA) dropped 6.4% following a downgrade to its investment and sales outlook. Power utility RWE (TG:RWE) slipped 3.5% after first-half core profit fell short of expectations.

Swedish video game publisher Embracer Group AB (TG:TH92) plunged 23% as its first-quarter operating profit missed market projections. In the U.K., Grosvenor casino owner Rank Group (LSE:RNK) slid 4.7% despite a sharp rise in annual profits to June 30, 2025.

On the upside, insurer Aviva (LSE:AV.) jumped nearly 5% after reporting a 22% increase in first-half operating profit, while Admiral Group (LSE:ADM) surged 6.4% on a 67% rise in half-year pretax earnings.

National Grid (LSE:NG.) gained 1.3% after agreeing to sell its Grain LNG business to a consortium including Centrica plc and Energy Capital Partners LLC. Swiss Re (TG:SR9) climbed 2.2% as the reinsurer reaffirmed its full-year guidance following solid second-quarter results.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock index futures edged lower Thursday morning, hinting at a pullback after two straight days of gains, as investors digested a hotter-than-expected wholesale inflation report.

The latest data from the Labor Department showed producer prices in July climbed sharply, with the Producer Price Index (PPI) for final demand rising 0.9% month-over-month, following a flat reading in June. Economists had anticipated a far smaller 0.2% increase.

On an annual basis, producer price growth accelerated to 3.3% from June’s upwardly revised 2.4%. Market forecasts were looking for a more modest uptick to 2.5% from the previously reported 2.3%.

The surprise jump in wholesale inflation tempered the optimism sparked earlier in the week by consumer price data that reinforced expectations of a September rate cut by the Federal Reserve. Even so, CME Group’s FedWatch tool still assigns a 94.6% probability that the central bank will trim rates by a quarter percentage point next month.

On Wednesday, equities initially extended Tuesday’s rally before paring gains. The Nasdaq added 31.24 points, or 0.1%, to 21,713.14, while the S&P 500 climbed 20.82 points, or 0.3%, to a fresh record close of 6,466.58. The Dow Jones Industrial Average outperformed with a 463.66-point jump, or 1.0%, to 44,922.27, boosted by strong moves in UnitedHealth (NYSE:UNH), Nike (NYSE:NKE), Sherwin-Williams (NYSE:SHW), and Merck (NYSE:MRK).

The week’s earlier gains were fueled by rate-cut hopes after consumer inflation numbers largely matched forecasts. Treasury Secretary Scott Bessent has urged the Fed to keep the option open for a bigger 50-basis-point reduction, pointing to recent softness in the labor market. President Donald Trump has also kept up public pressure on Fed Chair Jerome Powell, even threatening to let a “major lawsuit” tied to headquarters renovations proceed.

Sector-wise, housing stocks led the market Wednesday, with the Philadelphia Housing Sector Index up 3.7%, its best close in eight months. Biotech names also rallied, lifting the NYSE Arca Biotechnology Index 3% to a five-month high. Airline, pharmaceutical, and computer hardware stocks posted notable gains, while brokerage and software shares lagged.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.K. equities edged lower on Thursday despite data showing stronger-than-expected economic growth in June, alongside corporate updates from insurers Aviva and Admiral.

At 0902 GMT, the FTSE 100 inched up 0.05%, while the British pound ticked higher by 0.01% against the dollar, reaching 1.35. Across Europe, Germany’s DAX rose 0.2% and France’s CAC 40 gained 0.3%.

U.K. Economy Expands Faster than Expected in June

Following two months of contraction, the U.K. economy grew 0.3% in June, exceeding the 0.1% forecast, according to the Office for National Statistics. However, overall growth in Q2 slowed to 0.3% from 0.7% in the first quarter.

Aviva Shares Rise on Strong H1 Profit

Aviva (LSE:AV.) shares gained 2% at the open after the insurer reported first-half results that exceeded expectations. Operating profit for the six months ending June 30 climbed 22% to £1.07 billion ($1.45 billion), beating the £972 million consensus. Performance was driven by higher premiums and net inflows in its wealth division, with the company reaffirming its full-year guidance.

Admiral Posts Earnings Beat

Shares of Admiral Group (LSE:ADM) rose over 5% following a 69% surge in earnings, supported by a 56% increase in UK motor profits. Group pre-tax profit came in 2.6% above consensus, while the UK motor division surpassed forecasts by 5.9%. Household profit exceeded estimates by 32.6%, and travel and pet insurance losses were smaller than expected (£0.1 million vs. £1 million forecast).

PensionBee Gains on Asset Growth and UK Profitability

PensionBee Group plc (LSE:PBEE) shares rose 1.05% after reporting a 21% year-over-year increase in assets under administration to £6.3 billion, driven by net inflows of £423 million. Revenue grew 23% to £18.9 million, while the number of invested customers increased 14% to 286,000. The company also achieved profitability in its U.K. operations.

Antofagasta H1 Results Exceed Expectations

Antofagasta plc (LSE:ANTO) reported robust first-half 2025 financials, with EBITDA of $2.2 billion roughly in line with consensus but slightly above expectations due to lower operating costs. Underlying EPS reached $0.47, beating RBC forecasts by 24% and consensus by 6%. A first-half dividend of $0.17 per share was declared, 24% higher than RBC’s projection and 5% above consensus, consistent with the company’s 35% payout policy.

Centrica Stock Rises on LNG Terminal Deal

Centrica plc (LSE:CNA) shares climbed 1.5% after announcing the acquisition of the Isle of Grain liquefied natural gas terminal in partnership with Energy Capital Partners. The enterprise value of the deal is £1.5 billion, with Centrica taking a 50% stake and an equity investment of roughly £200 million, supported by approximately £1.1 billion in non-recourse project financing.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Antofagasta Plc (LSE:ANTO) reported stronger-than-anticipated first-half 2025 results on Thursday, though ongoing maintenance at its Los Pelambres mine is likely to push full-year copper production toward the lower end of guidance.

The London-listed miner posted group EBITDA of $2.2 billion for the six months ending June 30, roughly 2% above both company consensus and analyst projections. Earnings per share also outperformed expectations, coming in 8% higher than consensus, with RBC noting a 24% beat relative to its own forecast.

Analysts described the results variously as a “clean beat” (RBC), “decent” (Barclays), and a “mixed bag” (Morgan Stanley).

The company announced an interim dividend of 16.6 cents per share, consistent with its 35% payout policy. This distribution was 5% above consensus and 24% higher than RBC’s forecast, with Barclays and Morgan Stanley noting it exceeded their projections by 3% to 5%.

While guidance for full-year production and costs remains unchanged, Antofagasta said extra maintenance on the Los Pelambres tailings pipeline in July and August would reduce copper output by 5,000–10,000 metric tons. This adjustment places total 2025 production toward the bottom of the 660,000–700,000 metric ton range.

Barclays and Morgan Stanley cautioned that this maintenance could temper market reaction despite a solid first half. Morgan Stanley also highlighted that only 41% of Antofagasta’s $3.9 billion capital expenditure budget had been spent in H1, suggesting a significant ramp-up is needed in the second half to meet full-year targets.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Shares of energy transition company EnergyPathways (LSE:EPP) tumbled nearly 46% on Thursday after the North Sea Transition Authority (NSTA) refused to grant the firm a licence for gas storage.

The decision impacts only the natural gas and hydrogen storage components of EnergyPathways’ MESH project, the company said.

The MESH initiative is a major UK-based energy storage hub, designed to accommodate natural gas, hydrogen, and compressed air.

EnergyPathways confirmed it will assess the possibility of resubmitting its licence application to the NSTA.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Bitcoin (COIN:BTCUSD) surged to an all-time high on Thursday, fueled by growing expectations for a Federal Reserve rate cut in September and renewed enthusiasm from corporate investors.

Ether (COIN:ETHUSD), the world’s second-largest cryptocurrency, also climbed sharply, closing in on its 2021 record. Corporate interest has been a major driver, as more companies follow the Bitcoin treasury approach popularized by Michael Saylor’s MicroStrategy.

Bitcoin reached an unprecedented $124,436.80 before easing slightly, trading up 3.2% at $123,164.10 by 00:47 ET.

Rate Cut Optimism Supports Crypto Rally

The crypto rally has accelerated since last week, supported by both rising corporate purchases and softer-than-expected U.S. inflation data, which strengthened bets on a September rate reduction. According to CME FedWatch, markets were pricing in nearly a 97% likelihood of a 25 basis-point cut.

Lower interest rates generally boost speculative assets like cryptocurrencies by increasing available liquidity for investors.

Corporate adoption of Bitcoin has added fuel to the rally. Metaplanet Inc (USOTC:MTPLF), the world’s sixth-largest corporate Bitcoin holder, revealed a purchase exceeding $60 million this week and is raising billions to expand its crypto holdings.

Earlier in August, MicroStrategy also disclosed a significant Bitcoin acquisition, bringing its total reserves to 628,946 coins. Investor sentiment received an additional boost from Bullish Inc (NYSE:BLSH), a crypto exchange backed by Peter Thiel, which debuted on the NYSE with shares jumping nearly 90% from its IPO price, giving the company a market value of over $10 billion.

Altcoins Gain Momentum as Ether Approaches Record

Other major cryptocurrencies also saw strong gains on Thursday. Ether rose nearly 4% to $4,786.54, just shy of its $4,868.80 record from November 2021, fueled by corporate buying trends similar to those for Bitcoin. Standard Chartered even raised its 2025 Ether price target from $4,000 to $7,500 amid this adoption.

Third-largest crypto XRP climbed 2.6% to $3.3038, while Solana and Cardano surged 6.5% and 19.5%, respectively. Cardano benefited further from Grayscale Investments advancing plans for a spot Cardano exchange-traded fund.

Memecoins also rallied, with Dogecoin up 6.8% and $TRUMP gaining 7.1%. Overall, the crypto market has been buoyed by increased risk appetite and expanding corporate interest, keeping investors optimistic about the weeks ahead.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.S. dollar stabilized close to multi-week lows on Thursday as investors awaited upcoming economic releases expected to reinforce expectations for a Federal Reserve rate cut next month.

At 04:05 ET (08:05 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, ticked up 0.1% to 97.709, slightly above the two-week low recorded in the previous session.

Dollar under pressure

The greenback has struggled for most of August following disappointing U.S. jobs data, with further pressure this week after July’s modest consumer price growth was reported. Analysts noted that this indicated President Donald Trump’s tariffs had yet to significantly increase inflation, allowing the Fed to focus on signs of a cooling labor market.

Traders are now pricing in a 99% chance of a 25-basis-point rate cut at the September Fed meeting, according to Investing.com’s Fed Rate Monitor Tool.

U.S. Treasury Secretary Scott Bessent fueled speculation by suggesting that an aggressive half-point cut could be possible in light of recent weak employment figures.

“Markets aren’t pricing in anything over 25bp for now, and a 50bp option would probably not be taken seriously unless there are some hints in that direction at the Jackson Hole symposium, or August jobs data hugely disappoints again,” analysts at ING noted.

Fed Chair Jerome Powell is scheduled to speak at the Wyoming symposium next week, having used the same forum last year to signal impending rate cuts. In the meantime, traders are eyeing the July producer price index for signs that tariff-driven price increases are accelerating, alongside weekly jobless claims for more insight into labor market strength.

Eurozone GDP in focus

In Europe, EUR/USD fell 0.2% to 1.1680, just under Wednesday’s high of $1.1730, a level last reached on July 28.

Second-quarter growth data for the eurozone is expected later in the session, likely showing only 0.1% growth, a slowdown from 0.6% in Q1.

“EUR/USD is approaching tomorrow’s U.S.-Russia summit with good momentum, and the option market does not seem to be pricing in major volatility risk. One-week EUR/USD implied volatility is at the bottom of its recent range and in line with historical volatility,” ING commented.

GBP/USD traded slightly higher at 1.3572 after the release of U.K. data showing the economy grew 0.3% in Q2 2025, faster than expected but still down from Q1’s 0.7% growth. The Bank of England had forecast 0.1% growth for the April-June period.

“It’s positive news for the gilt market ahead of the Autumn fiscal event, but it doesn’t change the narrative for the Bank of England at this moment (inflation and jobs markets are the two main inputs), hence the reaction in sterling has been muted,” ING said.

Yen rises on rate hike speculation

Elsewhere, USD/JPY dropped 0.7% to 146.43 as the yen strengthened on speculation that the Bank of Japan might raise rates. This followed comments from U.S. Treasury Secretary Scott Bessent suggesting the BOJ was lagging in tackling inflation.

His remarks contrast with those from BOJ Governor Kazuo Ueda, who has largely dismissed concerns about delays in rate hikes to combat persistent inflation.

USD/CNY edged down to 7.1721, extending earlier-week declines after the U.S. and China agreed to extend their trade truce by 90 days. Attention now shifts to key Chinese economic reports due on Friday, including industrial production and retail sales.

AUD/USD fell 0.2% to 0.6536 after July labor data showed Australia’s job market slightly underperformed expectations, reinforcing the view that the sector is cooling and increasing the likelihood of further rate cuts by the Reserve Bank of Australia.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices inched upward during Asian trading on Thursday, buoyed by investor hopes for a Federal Reserve interest rate cut next month, as markets also awaited the upcoming U.S.-Russia discussions.

Spot gold rose 0.2% to $3,361.87 per ounce, while December gold futures were largely flat at $3,409.65/oz as of 01:19 ET (05:19 GMT).

The precious metal has climbed for a third straight day following a steep early-week drop, after President Donald Trump announced that gold bars would not face tariffs.

Fed rate cut expectations provide support; geopolitical focus grows

Data released on Tuesday showed the U.S. consumer price index largely matching forecasts, with analysts noting that the effect of tariff-related price increases is not fully reflected in the economy.

“The mild data strengthened the case for the Fed to cut its benchmark interest rate at its September meeting,” said market analysts, with futures now implying a 95% chance of a reduction next month.

Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, making bullion more appealing to investors.

Attention now turns to U.S. producer price figures for final demand and weekly jobless claims for the week ending Aug. 9, both due later in the day.

Gold’s gains were moderated by geopolitical concerns, with traders closely monitoring Friday’s summit in Anchorage between President Donald Trump and Russian President Vladimir Putin.

Trump on Wednesday cautioned of “severe consequences” for Russia if Vladimir Putin blocked progress toward peace in Ukraine ahead of the summit.

A positive outcome could lessen demand for gold as a safe-haven asset, while any signs of stalled talks or rising tensions might drive prices higher.

Other metals remain quiet

Elsewhere in the metals market, platinum futures slipped 0.2% to $1,346.65/oz, while silver futures inched up 0.1% to $38.645/oz.

Copper remained steady, with London Metal Exchange copper futures at $9,805.65 per ton and U.S. copper futures flat at $4.50 a pound.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices inched higher during Thursday’s Asian trading session as attention centered on the potential impact of an upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin on global supply.

Crude has been under pressure for the past two weeks, with concerns about weakening demand contributing to sharp losses. Prices dropped further on Wednesday after data revealed an unexpected rise in U.S. crude inventories.

By 21:58 ET (01:58 GMT), Brent futures for October gained 0.4% to $65.88 per barrel, while West Texas Intermediate (WTI) added 0.3% to $62.13 per barrel.

Trump-Putin Meeting on Ukraine Anticipated

The two leaders are scheduled to meet in Alaska on Friday to discuss a potential ceasefire in Ukraine. On Wednesday, Trump warned of “severe consequences” if Putin does not agree to a peace deal. He had previously threatened heavy tariffs on major Russian oil buyers, including India and China.

Any enforcement of these threats, along with potential new restrictions on Russia’s oil sector, could tighten global supplies and lend support to crude prices. However, reports indicate Trump does not expect an immediate resolution to the Ukraine conflict and may offer Russia concessions to ease tensions around Kyiv. Any easing of sanctions on Moscow’s energy sector could put downward pressure on prices, as concerns about an oversupply have weighed heavily on oil markets this year.

Supply Concerns and Inventory Build Weigh on Prices

Oil’s recent losses have been fueled by bearish supply forecasts from both the U.S. government and the International Energy Agency (IEA). The IEA warned that global oil supplies are “bloated,” particularly following a steady increase in OPEC+ production throughout the year.

The agency also flagged the risk of a supply surplus in 2025 and 2026 and projected slower demand growth in the coming months. It anticipates a daily oil surplus of 3 million barrels by 2026.

Further pressure came from U.S. data showing a 3 million barrel increase in inventories last week, well above market expectations of a 0.9 million barrel drawdown. The report highlighted the tail end of the travel-heavy U.S. summer period, when fuel demand typically peaks, noting that demand usually declines through autumn and into winter.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Elon Musk said on Wednesday that Google (NASDAQ:GOOG) currently has the strongest chance of dominating the artificial intelligence sector, pointing to the company’s vast computing resources.

Musk also noted that major AI players, including his own xAI, are expected to “continue to prosper” for the foreseeable future.

“Outside of real-world AI, Google has the biggest compute (and data) advantage for now, so currently has the highest probability of being the leader,” Musk wrote in a post on X, adding that the situation could shift in a few years.

His remarks arrive amid intensifying rivalry among leading U.S. AI developers, all competing to outdo each other’s models, expand their data center capacity, and attract more users.

xAI recently rolled out Grok 4, the latest version of its main AI model, shortly after OpenAI released its GPT-5 model in August. Both companies have made these advanced AI systems available to the public for free.

Google, meanwhile, is reportedly preparing further updates to its Gemini AI chatbot. According to AI research firm Artificial Analysis, GPT-5’s top variant is considered the most capable AI model, followed closely by Grok 4. Gemini and its variations, however, are praised for output speed and cost efficiency per token.

On Wednesday, Google announced plans to invest an additional $9 billion in AI infrastructure in Oklahoma over the next two years. The tech giant, along with Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), and Amazon (NASDAQ:AMZN), is part of Wall Street’s so-called “AI Hyperscalers,” a group of companies pouring hundreds of billions of dollars into expanding data center capacity.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.