Market Information Tuesday 29 April 2025

The UK and EU are preparing a new strategic partnership aimed at strengthening trade ties and economic stability amid global uncertainties. A draft declaration highlights their shared commitment to free and open trade, with both sides exploring ways to cushion the impact of global economic fluctuations. The upcoming UK-EU summit will also address efforts to reduce trade barriers and promote investment, particularly in renewables like North Sea energy. While broader political issues are on the agenda, the economic focus includes continued UK-US tariff talks and enhancing business growth opportunities on both sides of the Channel.

S&P 500 futures held steady after five days of gains as investors turned their focus to a busy earnings week and upcoming economic data. Despite Monday’s volatility, markets remained resilient with major indexes bouncing back by session close. Big Tech earnings are in the spotlight, with Meta, Microsoft, Apple, and Amazon reporting this week. So far, 73% of S&P 500 companies have beaten expectations, slightly below the five-year average. Traders are also watching U.S. data on home prices, job openings, and consumer confidence to assess the broader economic outlook.

HSBC posted stronger-than-expected Q1 2025 results, with pre-tax profit hitting $9.48 billion versus an expected $7.83 billion, thanks to robust wealth management and corporate banking performance. The bank also announced a $3 billion share buyback. Despite year-on-year declines, profits surged compared to the previous quarter. HSBC warned of trade-related macroeconomic risks and is monitoring potential tariff effects, particularly on ASEAN. Restructuring efforts continue, with cost savings planned despite short-term severance expenses. Analysts are watching for guidance revisions amid global economic uncertainty.

The 6M Euribor increased with 1 basis point to 2.14% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.50% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.