23 April – 27 April

23 April

Asia Pacific stocks had a mixed start to the week as geopolitical tensions eased and US Treasury yields hovered at a four-year high.

Growth in Japan’s manufacturing sector picked up in April, snapping two months of decline as output increased and business confidence strengthened, according to a preliminary industry gauge.

The wave of corporate earnings due out this week is expected to show robust first-quarter performances, but the strong euro is set to knock revenues for international companies in Europe.

Investors pulled a volte-face on Monday, wiping out early losses in Hasbro shares after the US toymaker blamed the Toys R Us liquidation for disappointing revenues and a quarterly loss but said that the figures did not reflect the health of its underlying business.

24 April

Rising US borrowing costs and the longest winning streak for the greenback this year have put emerging market assets under pressure, with equities and currencies down more than 1 per cent and on track for their biggest one-day drops in at least weeks.

In 25 years, the exchange-traded fund has become one of the most popular financial innovations of the modern era. In 2016, seven of the 10 most actively traded US securities were ETFs. But the sector is a regulatory backwater.

3M shares dropped in pre-market trading after the company tempered its sales growth outlook for the year despite a solid start to the first quarter.

Shire said on Tuesday that it had received a “revised proposal regarding a possible offer” from Takeda, which has been pursuing the company, but added that there was no certainty that a firm offer would be made.

25 April

Wall Street’s slide is gathering steam, as industrial heavyweight Caterpillar’s earlier post-earnings bounce shifted suddenly and fell sharply into reverse.

Chinese banks have embarked on a new round of capital raising, prompted by regulations on shadow banking that are forcing lenders to bring shadow loans back on to their balance sheets.

Altaba, formerly known as Yahoo, will pay $35m to settle charges it misled investors by failing to disclose a massive security breach, the US Securities and Exchange Commission said on Tuesday.

Snapchat is testing a new version of its controversial redesign that now puts friends’ stories on the same screen as professional publisher content, despite Snap co-founder Evan Spiegel’s promise to “separate the social from the media”.

26 April

Turkey’s central bank raised one of its main interest rates on Wednesday for the first time this year, dismissing calls from President Recep Tayyip Erdogan to keep credit cheap ahead of June’s snap elections.

Sweden’s currency fell to its lowest level since the end of the financial crisis in 2009 after the Riksbank once again pushed back its forecast for the first increase in interest rates since they were lowered more than three years ago.

Shares in Samsung Electronics rose as much as 3.2 per cent in Seoul after the company posted a 52 per cent increase in net profit for the first three months of the year.

Brazil’s Vale, the world’s largest iron ore producer, posted a 36 drop in net income in a “very complex” first quarter of the year.

27 April

Aluminium has returned to form after several days of heavy losses that followed a loosening of sanctions over Russian group Rusal by the US Treasury on Monday.

US private sector pay grew at the quickest pace since before the recovery started, adding to evidence that steady economic growth and falling unemployment are finally lifting incomes and potentially inflation.

Intel’s long-running efforts to carve out a future beyond its traditional PC chips business took a big step forward in the first quarter, as revenues from newer markets such as AI and driverless cars came within a whisker of overtaking sales of PC chips for the first time.

Shares in Chinese search engine Baidu jumped in after-hours trading after the company’s revenue and earnings growth sailed past Wall Street forecasts.