Squawk Box Europe Express

Bankers tap the extraordinary valuation of SpaceX ahead of its listing next week. Goldman Sachs has reportedly forecast a 100-fold revenue increase by 2030 for the company. However, S&P Dow Jones Indices has ruled out a fast-track to the S&P 500, diverging from rivals Nasdaq. The AI rally stutters with the Nasdaq suffering a second day of losses while in Asia, the KOSPI nosedives. The head...

SpaceX eyes a valuation of almost $1.8tn at its listing next week. It has marketed more than half a billion shares at $135 which will make it the largest IPO of all time. The U.S. equity markets end a five-day winning streak with oil falling back. Renewed tensions in the Gulf come as negotiators attempt to broker a ceasefire agreement between Israel and Lebanon. Israeli PM Benjamin Netanyahu tells...

SpaceX is reportedly planning a float share price of $135, eyeing around a $75bn IPO raise. However, Morningstar analysts believe the figure is hugely overpriced while Goldman Sachs CEO David Solomon tells our colleagues Stateside he believes that markets are living in a moment of ‘greed’. The U.S. proposes fresh tariffs on up to 60 countries it believes have failed to ban imports made with forced...

Anthropic is joining the A.I. IPO race, filing confidentially following last week’s latest funding session revealed the company being valued at close to $1tn. However, Open AI’s Sam Altman tells CNBC he is not rushing to list his company. We speak exclusively to Softbank CEO Masayoshi Son who says the A.I. revolution is the biggest mankind has ever experienced. President Trump tells CNB he is unfa...

We are live in Paris where Japan’s Softbank has pledged up to €75bn for Europe’s largest A.I. data centre project. Asian chip stocks are in the green as investors eye potential meetings with Nvidia CEO Jensen Huang at the Computex trade show in Taipei. Brent crude inches higher on the news Israeli forces push deeper into Lebanon. France has called for an emergency meeting of the UN Security Counci...

Oil dips after a White House official says the U.S. and Iran are close to a temporary peace agreement. Vice President JD Vance says he feels ‘pretty good’ about how negotiations are progressing. Today’s fall in crude prices are close to 20 per cent on the month. Equities in the U.S. have ended a stellar month of May while European markets lag behind. A.I. giant Anthropic builds up its latest round...

Oil prices whipsaw with Brent up almost 3 per cent following an Iranian missile and drone attack on a U.S. air base in Kuwait. The strikes were followed by the U.S. targeting of a ground control station in Bandar-e-Abbas just hours after optimistic peace talks comments from U.S. Secretary of State Marco Rubio had pushed crude lower. Federal Reserve governors Neel Kashkari and Austan Gool...

SK Hynix becomes the latest company to be valued at $1tn due to investor enthusiasm for A.I.-linked semi-conductor stocks. Iran accuses the U.S. of breaching the ceasefire with President Trump set to hold a cabinet meeting with high-stake peace negotiations ongoing. New car registrations in the EU surge 5.1 per cent with high fuel costs prompting renewed interest in EVs. However, Ferrari share plu...

U.S.-Iran peace talks remain undecided, keeping oil markets volatile. U.S. Secretary of State Marco Rubio is positive a good deal will be reached but settling all details will require more time. The UK market returns after the spring bank holiday while in Europe the Stoxx 600 hits its highest level in more than two months, clawing back losses since the start of the Gulf conflict. Ferrari launches...

European equities look set to enjoy a day in the green following the Dow’s record close yesterday. Bond yields also dip slightly after a volatile week. Crude prices inch up as Washington D.C. and Tehran remain at loggerheads over reopening the Strait of Hormuz and Iran’s nuclear enrichment programme. U.S. Secretary of State Marco Rubio slams reported suggestions of a permanent Iranian toll system...

Nvidia notches another stellar quarter with revenue soaring by 85 per cent to more than $80bn. The chip giant has also announced the same amount in share buy-backs. CEO Jensen Huang tells our colleagues Stateside that demand in the new era of A.I. is ‘sky-high’. SpaceX files its prospectus ahead of what will be the biggest listing of all time on Wall Street. The company is eyeing future data centr...

Fixed income continues to sell off across Europe which focuses investors’ minds on UK April inflation. Crude prices slip on news that several tankers were able to exit the Strait of Hormuz. There are mixed messages from Washington with U.S. President Trump warning of renewed strikes on Iran but Vice-President JD Vance claiming progress was being made in talks with Tehran. In tech news, Google unve...

We are live in Paris at the G7 finance ministers’ meeting where European Commissioner Valdis Dombrovskis tells us that Europe is facing a stagflationary shock amid the energy crisis while French finance minister Roland Lescure says lawmakers need to work to reassure bond markets. Crude prices fall slightly after U.S. President Trump says he postponed fresh strikes on Iran, citing diplomatic progre...

Bond markets around the world spike with the U.S. 10-year Treasury yield hitting its highest level in 15 months as inflation concerns persist. We are live in Paris where G7 finance ministers and central bank governors are meeting with the global sell-off set to dominate discussions. Crude oil prices rise once again after U.S. President Donald Trump warns Iran ‘the clock is ticking’ over peace talk...

President Trump and President Xi conclude their two-day summit in Beijing with U.S. officials touting deals aimed at maintaining the two nations’ trade truce. In the UK, Greater Manchester mayor Andy Burnham sets his sights on No.10 after the resignation of Health Secretary Wes Streeting. Sterling suffers its biggest drop in more than 3 months with gilts also set for losses. U.S. deep-learning A.I...

Chinese President Xi welcomes U.S. President Trump to an eagerly anticipated summit in Beijing with both leaders hailing a new chapter in bilateral relations for the world’s two largest economies. UK Health Secretary Wes Streeting is reportedly planning to resign from his post and trigger a leadership contest against Prime Minister Sir Keir Starmer as soon as this morning. Conservative party leade...

UK Prime Minister Sir Keir Starmer survives another day in office after essentially challenging rivals to ‘put up or shut up’ during a key Cabinet meeting. A potential contender for Starmer’s job, Health Secretary Wes Streeting, is set to meet with the Prime Minister at Downing Street for talks ahead of the King’s speech later this morning. President Trump is on his way to Beijing for a high-stake...

UK Prime Minister Sir Keir Starmer’s leadership hangs by a thread with now more than 70 Labour MPs calling for him to resign following last Thursday’s devastating local and regional election results. We hear from London Mayor Sadiq Khan who says a change of leadership at this point is not the answer to the government’s problems. U.S. President Donald Trump rubbishes Tehran’s response to American p...

President Trump dismisses the Iranian response to a U.S. peace proposal as ‘totally unacceptable’. Brent crude prices nudge past the $100-mark on the news. Beijing prepares to welcome President Trump on a two-day visit later this week with the agenda focusing on multiple topics including Iran, A.I. policy as well as trade and rare earth restrictions. UK Prime Minister Sir Keir Starmer is due to de...

U.K. stocks have dropped and gilt yields hold near multi-decade highs, after U.K. Prime Minister Keir Starmer and his Labour Party see bruising losses in local elections, with Farage’s Reform UK making substantial gains. The U.S. and Iran exchange fire around the Strait of Hormuz, as Washington waits on a response to its proposal to end the war. But President Trump insists the latest incident does...

Iran says it is considering U.S. proposal to end the conflict as well reportedly begins talks to re-open the Strait of Hormuz and the future of its nuclear programme. President Trump is optimistic an agreement can be reached. European equities close more than two per cent higher on hopes of a peace deal while Wall Street sees fresh record highs. Meanwhile Asian markets continue the rally with the...

President Trump pauses the ‘Project Freedom’ operation after revealing that progress has been achieved on a potential deal with Tehran to end the conflict. U.S. Secretary of State Marco Rubio says reopening the Strait of Hormuz is paramount, not military action. Equity markets respond positively to the news. In Asia, south Korea’s KOSPI rallies by more than 7 per cent with A.I. and chips stocks le...

The U.S.-Iranian ceasefire agreement is in danger of falling apart after Tehran targets ships in the Strait of Hormuz. The flare-up sees the UAE also engage Iranian missile and drone fire. Unicredit hikes its guidance after delivering its highest quarterly profit ever. Investor focus is now on the Italian lender’s tender off for Commerzbank due from 11am today. CEO Andrea Orcel tells CNBC he has m...

U.S. President Donald Trump pledges to help guide stranded tankers through the Strait of Hormuz, using as many as 15,000 troops and 100 aircraft. The European Commission is mulling a response after President Trump threatened to hike tariffs on European cars to 25 per cent after accusing the bloc of non-compliance with the trade deal struck last July. European leaders arrive in Yerevan, Armenia for...

Both the ECB and the BoE decided to hold interest rates steady but warn that a June hike could be on the cards should inflation pressures connected to the Iran crisis escalate. The S&P 500 and Nasdaq notch their strongest month for six years as investors look beyond the Middle East and bet on Big Tech’s A.I. progression. Apple shares are up in after-hours trade following a top and bottom line...