Defence Stocks in Focus After Trump Backs Ukraine Fightback
Defence sector stocks may partially support market sentiment, after former U.S. President Donald Trump last night voiced support for Ukraine’s fightback against Russia, potentially boosting European defence-related equities.
Elsewhere in Europe, German and French indices were also trading lower ahead of the opening bell, reflecting a cautious start to the session.
Overnight, Wall Street finished in negative territory. The Nasdaq led the declines, falling 0.95%, followed by a 0.55% drop in the S&P 500, while the Dow Jones Industrial Average edged 0.2% lower.
In Asia, trading was mixed. Japan, Hong Kong, and Shanghai posted gains of 0.2%, 1.3%, and 0.9%, respectively. However, India, Singapore, and South Korea saw declines as regional investors weighed global macroeconomic signals and geopolitical developments.
Commodities
Gold remained near record highs, with demand supported by safe-haven buying amid global uncertainty. Brent crude was slightly lower, extending recent volatility as traders balanced concerns over supply disruptions against softer demand signals.
Looking Ahead
On Wednesday’s agenda, JD Sports will report half-year results, providing a key read on UK retail performance. Later in the day, U.S. new home sales data is expected to offer further insight into the health of the American housing market.
