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May 1, 2025

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Europe markets open: FTSE 100 poised higher; focus on UK amid European closures

3 Mins Read

London’s FTSE 100 index is expected to open higher on Thursday, looking to extend an impressive winning streak, while most other major European stock exchanges remain closed for the May 1 public holiday.

Trading activity across the region will consequently be subdued, placing the UK market firmly in the spotlight.

Despite the closure of markets in Germany, France, and Italy, early indications point to a positive start for the UK benchmark.

The FTSE 100 finished Wednesday’s session with a 0.37% gain, marking its thirteenth consecutive positive closing day – the longest such run for the index since a period spanning late 2016 into early 2017.

This resilience comes even as broader European markets navigate mixed economic signals and ongoing corporate earnings reports.

Europe’s regional Stoxx 600 index managed to end Wednesday in positive territory, absorbing the impact of news that the US economy unexpectedly contracted by 0.3% in the first quarter.

Navigating economic crosscurrents and tariff fog

Sentiment in the region received some support from better-than-expected domestic data earlier in the week, showing the Eurozone economy grew by 0.4% in the first quarter, surpassing forecasts and providing a welcome contrast to the US GDP figures.

However, the broader picture for European stocks in the recently concluded month of April was less rosy.

Lingering concerns over the impact of US tariff policies weighed on sentiment, causing the Stoxx 600 to lose 1.2% over the month, although this was an improvement from a steeper 4.2% decline witnessed in March.

Earnings season: banks shine, caution prevails

The ongoing first-quarter earnings season has been a key focus for investors this week, offering insights into corporate health amidst the uncertain environment.

A distinct theme has emerged: while many companies across various sectors have flagged significant uncertainty and potential price pressures linked to US tariffs in their outlooks, several major banks, including UBS, Deutsche Bank, and Barclays, reported results that beat analyst expectations, particularly driven by strong investment banking performance.

Strategist view: defensive positioning favored

This divergence between cautious industrial outlooks and resilient banking performance informs current market strategy.

Max Kettner, chief multi-asset strategist at HSBC, suggested that banks globally still appear relatively well-positioned.

Speaking to CNBC’s ‘Europe Early Edition’ on Thursday, he noted, “…those growth risks that’s we’re facing now that are centered around the US, that should be helping European financials.”

However, Kettner advised a generally defensive posture given the prevailing uncertainties.

“Overall it is still time to play defense, particularly in the US, the likes of small caps, consumer cyclicals are the ones you really want to avoid, go more toward the defensives, your staples, your health-care, your utilities,” he recommended.

Positive lead from US tech earnings

Providing a supportive overnight cue for the London open, US stock futures ticked higher early Thursday.

This followed well-received earnings reports from technology giants Meta Platforms and Microsoft after the US market closed Wednesday, suggesting continued strength in the crucial Big Tech sector despite broader economic concerns.

With most of continental Europe offline for the holiday, trading volumes are expected to be light, potentially leading to more pronounced moves in the active UK market as it digests domestic news and the residual impact of global developments.

The post Europe markets open: FTSE 100 poised higher; focus on UK amid European closures appeared first on Invezz

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In World news

Crypto Market Recap: Grayscale Debuts New Bitcoin Product, Tether Announces US Expansion

6 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (April 30) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$93,992.22 as markets closed for the day, down 1.3 percent in 24 hours. The day’s range has seen a low of US$93,333.62 and a high of US$94,464.34.

Bitcoin performance, April 30, 2025.

Chart via TradingView.

Cryptocurrencies have fallen slightly after the US Department of Commerce revealed that US gross domestic product declined by 0.3 percent in Q1, in contrast to economists’ expectations for a 0.4 percent gain.

Wednesday’s reading marks the first decline since Q1 2022. “Multiple indicators are now showing a recession to be the base case expectation in 2025,” according to the Kobeissi Letter.

Ethereum (ETH) ended the day at US$1,782.75, a 1.9 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,750.28 and reached its daily high as the markets wrapped.

Altcoin price update

  • Solana (SOL) ended the day valued at US$145.18, down 2.5 percent over 24 hours. SOL experienced a low of US$141.31 and peaked at $145.61.
  • XRP traded at US$2.19, reflecting a 4.3 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.15 and reached its highest point at US$2.20.
  • Sui (SUI) was priced at US$3.41, showing a decreaseof four percent over the past 24 hours. It achieved a daily low of US$3.32 and a high of US$3.46.
  • Cardano (ADA) was trading at US$0.6808, down 3.6 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6711, with a high of US$0.6862.

Today’s crypto news to know

Grayscale launches Bitcoin Adopters ETF

On Wednesday, Grayscale announced the launch of the Grayscale Bitcoin Adopters ETF on the NYSE Arca under the ticker symbol BCOR. The fund is based on the Indxx Bitcoin Adopters Index.

The launch of this exchange-traded fund (ETF) represents the growing interest in Bitcoin among corporations. According to Rahul Sen Sharma, president and Co-CEO at Indxx, public companies’ Bitcoin holdings increased by 16.1 percent in the year’s first quarter, valued at approximately US$57 billion. Roughly 3 percent of Bitcoin’s total supply is now held by companies globally, indicating a major shift in corporate treasury management.

Tether announces plans for US dollar stablecoin

Tether CEO Paolo Ardoino announced in a CNBC interview on Wednesday afternoon that his company plans to launch a US dollar stablecoin in the US as early as the end of this year or in early 2026.

Tether’s existing USDT stablecoin is the leading US dollar exporter with a market cap of nearly US$150 billion; however, it is overshadowed in the US by Circle’s rival product, USDC.

Ardoino told CNBC that USDT was created for smaller, developing economies, and that its new product will be designed with features that cater specifically to the US market.

SEC postpones decisions on XRP and DOGE ETFs

The US Securities and Exchange Commission (SEC) has extended its review period for two proposed spot cryptocurrency exchange-traded funds (ETFs) tied to XRP and Dogecoin, delaying any decision until mid-June.

The agency cited a need for more time to evaluate the filings, specifically the Bitwise DOGE ETF and the Franklin XRP Fund, and the legal issues they raise.

Under federal securities law, the SEC is allowed up to 90 days from the initial publication to make a decision, and this delay appears to fall within that window. Analysts speculated that the delay was anticipated and aligns with broader expectations that most final rulings will land in the fall.

While DOGE and XRP prices saw little immediate movement, the delay signals the SEC’s continued caution around expanding ETF offerings beyond Bitcoin and Ethereum.

Kraken launches ‘Embed’ service to let banks offer crypto trading

Crypto exchange Kraken is opening a new front in institutional crypto adoption with the launch of “Embed,” a plug-and-play crypto trading service for fintechs, neobanks, and traditional financial institutions.

Announced on Wednesday, the service enables companies to integrate crypto trading directly into their apps and websites using Kraken’s APIs, bypassing the need to build costly infrastructure or secure their own licenses.

Amsterdam-based digital bank Bunq is the first to roll out the new service, debuting ‘Bunq Crypto’ to let European users trade digital assets within its existing app.

According to Kraken’s head of payments, Brett McLain, the goal is to offer access to a wide range of tokens and fast asset listings, which he says sets Kraken apart from other white-label providers like Bitpanda.

Embed customers will pay variable service fees and share a portion of trading revenues with Kraken.

KuCoin pledges US$2 billion to Trust project

KuCoin announced a bold US$2 billion investment into what it’s calling the “Trust Project,” a sweeping initiative to restore user confidence and improve transparency across its platform.

The announcement was made during the TOKEN2049 conference in Dubai, where KuCoin executives laid out a roadmap focused on regulatory alignment, user protection, and responsible innovation.

A major component of the project involves giving the exchange’s native token, KCS, a larger role in governance, risk mitigation, and user reward structures. CEO BC Wong said the investment is aimed at securing the “long-term health” of the digital asset ecosystem by strengthening accountability and neutralizing systemic risks.

The initiative arrives as global regulators intensify their scrutiny of centralized exchanges and demand higher standards for custody, disclosures, and user safeguards.

Nasdaq files to list 21Shares Dogecoin ETF

In a fresh bid to tap into retail enthusiasm for meme coins, the Nasdaq has submitted a formal application with the SEC to list the 21Shares Dogecoin ETF, according to a 19b-4 filing released Tuesday.

The ETF is designed to track Dogecoin’s market performance via the CF DOGE-Dollar Settlement Price Index and will hold the token directly, without using leverage or derivatives.

Coinbase Custody Trust has been named as the fund’s official custodian, offering added legitimacy and security to the proposed vehicle. The filing comes in the wake of 21Shares’ S-1 registration and its partnership with the House of Doge — a corporate arm of the Dogecoin Foundation — to promote the fund.

Although the SEC recently delayed a decision on Bitwise’s similar DOGE ETF, Nasdaq’s move signals sustained momentum behind bringing more meme coin exposure to regulated markets.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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This post appeared first on investingnews.com

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In Business

JetBlue to partner with another U.S. airline in the coming weeks

2 Mins Read

JetBlue Airways is getting ready to announce a partnership with another U.S. airline with a larger network in the coming weeks, the carrier’s president said Tuesday. One possibility: United Airlines.

JetBlue’s leaders have repeatedly said they need a partnership to better compete against larger airlines like Delta Air Lines and United.

JetBlue’s planned acquisition of Spirit Airlines was blocked by the Justice Department last year, while its partnership in the Northeast with American Airlines unraveled after the carriers lost an antitrust lawsuit in 2023.

The New York airline has been in talks with several carriers this year about a partnership. JetBlue’s president, Marty St. George, said on an earnings call on Tuesday that the company expects to make an announcement this quarter. He emphasized that the partner’s bigger network would allow customers to earn and burn loyalty points on JetBlue.

“If you are a customer in the Northeast and you love JetBlue for leisure, but twice a year you have to go to Omaha or Boise, these are places that you can’t earn TrueBlue points on now and when this partnership goes forward, you will be able to,” St. George said.

United Airlines could possibly get a foothold (again) into JetBlue’s home hub of John F. Kennedy International Airport in New York through the partnership. “We don’t engage in industry speculation,” a United Airlines spokeswoman said.

An Alaska Airlines spokeswoman said the carrier doesn’t have plans to partner with JetBlue and is focused on its recent merger with Hawaiian Airlines.

Southwest Airlines declined to comment. A Delta Air Lines spokesman said there was no pending announcement from the carrier about a partnership with another airline.

JetBlue declined to comment further.

American had been in talks to revive a different version of its partnership with JetBlue, but those failed and American said Monday that it sued JetBlue.

“Ultimately, we were unable to agree on a construct that preserved the benefits of the partnership we envisioned, made sense operationally or financially,” American Airlines Vice Chair Steve Johnson said in a letter to employees on Monday.

This post appeared first on NBC NEWS

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In Politics

President Trump reveals what he told Zelenskyy during viral meeting at the Vatican

2 Mins Read

President Donald Trump revealed Tuesday evening what he and Ukrainian President Volodymyr Zelenskyy discussed during their viral meeting at the Vatican when both were in attendance for the late Pope Francis’ funeral. 

‘I was telling him that it’s a very good thing if we can produce a deal, that you sign it, because Russia is much bigger and much stronger,’ Trump said Tuesday evening during a town hall hosted by NewsNation, which he participated in by phone.

The pair met face-to-face for the first time since their contentious Oval Office meeting in February, while both attended the papal funeral. Neither White House or Ukrainian officials gave many details on the nature or content of the talk, other than that it was ‘productive’ and ‘symbolic.’

‘We discussed a lot one on one,’ Zelenskyy posted on X following the viral meeting. ‘Hoping for results on everything we covered. Protecting lives of our people. Full and unconditional ceasefire. Reliable and lasting peace that will prevent another war from breaking out. Very symbolic meeting that has potential to become historic, if we achieve joint results.’

Despite few details being released about the meeting, Trump did tell reporters over the weekend that part of the pair’s discussion revolved around the U.S. sending more weapons to Ukraine. 

‘He told me that he needs more weapons, but he’s been saying that for three years,’ Trump said. ‘We’re going to see what happens – I want to see what happens with respect to Russia. Because Russia, I’ve been surprised and disappointed – very disappointed – that they did the bombing of those places after discussions.’ 

While Trump did not divulge any further details about the meeting to reporters, the president did add that he thinks Zelenskyy will be willing to give up Crimea in order to secure a peace deal. Russia’s annexation of the current Ukrainian territory has been a major sticking point amid negotiations between the two warring nations, with Zelenskyy indicating he would not be willing to sign a deal that includes giving up the territory. 

This post appeared first on FOX NEWS

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