{"id":55245,"date":"2025-10-29T02:38:26","date_gmt":"2025-10-29T06:38:26","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-rally-on-strong-earnings-trump-signals-tariff-rollback\/55245\/"},"modified":"2025-10-29T02:38:26","modified_gmt":"2025-10-29T06:38:26","slug":"global-markets-rally-on-strong-earnings-trump-signals-tariff-rollback","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-on-strong-earnings-trump-signals-tariff-rollback\/55245\/","title":{"rendered":"Global Markets Rally on Strong Earnings, Trump Signals Tariff Rollback"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>UBS (<a href=\"\/stock\/UBSG\">UBSG<\/a>)<\/strong> and <strong>Deutsche Bank (<a href=\"\/stock\/DB\">DB<\/a>)<\/strong> significantly surpassed Q3 2025 earnings estimates, with UBS&#39;s net income nearly doubling expectations at <strong>$2.48 billion<\/strong> and Deutsche Bank reporting a pre-tax profit of <strong>\u20ac2.45 billion<\/strong>.<\/li>\n<li><strong>APAC stock markets<\/strong> largely traded in the green, with many indices reaching <em>record highs<\/em>, buoyed by strong tech performance on Wall Street.<\/li>\n<li>US President Trump indicated he expects to <strong>lower fentanyl-linked tariffs on China<\/strong>, a move that could ease trade tensions ahead of a meeting with Chinese President Xi Jinping.<\/li>\n<li><strong>BASF (<a href=\"\/stock\/BAS\">BAS<\/a>)<\/strong> also reported strong Q3 2025 results, with adjusted EBIT of <strong>\u20ac594 million<\/strong>, significantly exceeding analyst estimates.<\/li>\n<li>Russia&#39;s <strong>Yatek<\/strong> has suspended its US-sanctioned Yakutia LNG project, shifting its focus to supplying gas for <em>digital and advanced technology facilities<\/em>.<\/li>\n<\/ul>\n<p>Major financial institutions <strong>UBS (<a href=\"\/stock\/UBSG\">UBSG<\/a>)<\/strong>, <strong>Deutsche Bank (<a href=\"\/stock\/DB\">DB<\/a>)<\/strong>, and <strong>Banco Santander (<a href=\"\/stock\/SAN\">SAN<\/a>)<\/strong> reported robust third-quarter 2025 earnings, largely exceeding analyst expectations and contributing to a positive global market sentiment. UBS posted a net income of <strong>$2.48 billion<\/strong>, significantly higher than the estimated $1.41 billion, with pretax profit reaching <strong>$2.83 billion<\/strong> against an estimated $2.02 billion. The investment bank segment was a strong performer for UBS, recording <strong>$900 million<\/strong> in pretax profit, well above the $426.6 million estimate.<\/p>\n<p>Similarly, <strong>Deutsche Bank (<a href=\"\/stock\/DB\">DB<\/a>)<\/strong> announced a net income of <strong>\u20ac1.56 billion<\/strong> on net revenue of <strong>\u20ac8.04 billion<\/strong>, both surpassing estimates of \u20ac1.3 billion and \u20ac7.74 billion, respectively. The bank&#39;s fixed-income trading revenue also exceeded expectations, contributing to a pretax profit of <strong>\u20ac2.45 billion<\/strong>. <strong>Banco Santander (<a href=\"\/stock\/SAN\">SAN<\/a>)<\/strong> likewise outperformed on net income, reporting <strong>\u20ac3.50 billion<\/strong> against an estimated \u20ac3.38 billion, though its net interest income was slightly below projections.<\/p>\n<p>Across Asia, stock markets saw predominantly positive movement, with many indices climbing to <em>record highs<\/em>. This surge followed strong tech sector performance on Wall Street. Meanwhile, geopolitical developments also captured attention as US President Trump indicated a potential reduction in fentanyl-linked tariffs on China. This move is anticipated to precede a meeting with Chinese President Xi Jinping, signaling a possible easing of trade tensions. The proposed deal could see the US lowering some fentanyl-related tariffs by as much as 10% in exchange for China&#39;s commitment to enhance oversight of precursor chemicals.<\/p>\n<p>In the chemical sector, German giant <strong>BASF (<a href=\"\/stock\/BAS\">BAS<\/a>)<\/strong> reported strong Q3 2025 earnings, with adjusted EBIT of <strong>\u20ac594 million<\/strong>, comfortably beating the \u20ac492.3 million estimate. Sales for the quarter were <strong>\u20ac15.23 billion<\/strong>, aligning with expectations.<\/p>\n<p>In other news, Russia&#39;s <strong>Yatek<\/strong> has decided to suspend its US-sanctioned Yakutia LNG project. The company stated it would redirect its efforts towards providing gas for <em>digital and advanced technology facilities<\/em>, indicating a strategic shift in its energy focus. Japan&#39;s government bond yields saw minor movements, with the 40-year yield dropping 1.5 basis points to <strong>3.360%<\/strong> and the 20-year yield slipping 0.5 basis points to <strong>2.570%<\/strong>.<\/p>\n<p>Finally, China&#39;s FX regulator announced upcoming measures to support the use of foreign currency for foreign-related employees of high-quality firms. This initiative aims to streamline cross-border trade and financing, reflecting China&#39;s ongoing efforts to create a more open investment environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways UBS (UBSG) and Deutsche Bank (DB) significantly surpassed Q3 2025 earnings estimates, with UBS&#39;s net income nearly doubling 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