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The National Times - Stocks mostly rise as markets digest Nvidia earnings

Stocks mostly rise as markets digest Nvidia earnings

ECONOMY 26.02.2026
Stocks mostly rise as markets digest Nvidia earnings

Stock markets mostly extended gains on Thursday as investors digested company earnings, including forecast-beating results from chip titan Nvidia.

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Oil prices fell as Iran and the United States began a new round of indirect talks on the Islamic republic's nuclear programme, in a last-ditch bid to avert war.

The market response to Nvidia's earnings Wednesday was muted as initial excitement over its record quarterly revenue gave way to concerns that sky-high expectations for AI have become almost impossible to meet.

Shares in the firm -- which last year became the first to top $5 trillion in market capitalisation -- dipped in after-hours trade in New York.

"It says a lot when a stock market darling beating revenue forecasts by billions of dollars can no longer muster a positive share price reaction," said Dan Coatsworth, head of markets at AJ Bell.

"The mood music is changing on Nvidia, and it represents a significant shift in investor sentiment," he added.

Major European indices advanced nearing midday trade on Thursday.

London was boosted by a more than six percent rise in Rolls-Royce shares after the British engine-maker upgraded its guidance, announced a share buyback and posted soaring annual profits.

Paris and Frankfurt also rose.

In Asia, Tokyo hit a new record, while Hong Kong edged down and Shanghai was flat.

Asian tech firms have enjoyed a blockbuster start to the year as investors reassess their AI bets, with attention turning to "upstream" firms such as chipmakers and away from Wall Street's "downstream" companies that run apps and software.

The shift has come amid growing concerns about the hundreds of billions of dollars pumped into AI and when that will see a return, while a slew of new tools has raised fears the technology will disrupt other businesses.

Still, Seoul climbed more than three percent to a fresh peak on Thursday, led again by surges in chipmaker Samsung and rival SK hynix. The Kospi index is now up nearly 50 percent already this year.

On currency markets the yen clawed back some losses against the dollar that came after it emerged that Japanese Prime Minister Sanae Takaichi had nominated two academics to the Bank of Japan board who are considered policy doves.

That came after reports had earlier said she had told the central bank's boss Kazuo Ueda of her concern about hiking interest rates further.

- Key figures at around 1100 GMT -

London - FTSE 100: UP 0.2 percent at 10,826.63 points

Paris - CAC 40: UP 0.8 percent at 8,623.54

Frankfurt - DAX: UP 0.2 percent at 25,235.17

Tokyo - Nikkei 225: UP 0.3 percent at 58,753.39 (close)

Hong Kong - Hang Seng Index: DOWN 1.4 percent at 26,381.02 (close)

Shanghai - Composite: FLAT at 4,146.63 (close)

New York - Dow: UP 0.6 percent at 49,482.15 (close)

Dollar/yen: DOWN at 155.97 yen from 156.46 yen on Wednesday

Euro/dollar: DOWN at $1.1798 from $1.1805

Pound/dollar: DOWN at $1.3535 from $1.3554

Euro/pound: UP at 87.16 pence from 87.10 pence

West Texas Intermediate: DOWN 1.7 percent at $64.32 per barrel

Brent North Sea Crude: DOWN 1.4 percent at $69.71 per barrel

S.Mitchell--TNT

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