One of the biggest Chinese automakers is setting up shop north of the U.S. border. Chinese automaker Geely plans to begin selling vehicles to Canadian customers next year, the company said Friday. Geely, one of the largest carmakers in the world by sales, has begun establishing a retail and service network in the country and plans to introduce its first vehicles to Canadian consumers in 2027. “Canada represents an important next step in Geely Auto’s international growth,” said Bryan Wu, Geely’s managing director in Canada. “We are entering this market with a long-term commitment, bringing our global technology and engineering capabilities to Canadian drivers.” Globally, Geely offers a wide lineup of vehicles, from compact electric vehicles to large, luxury-oriented SUVs. The carmaker’s portfolio also includes gas-powered vehicles and hybrids, which have taken off in America after EV sales tapered off in the past year. It sold more than three million vehicles in 2025. The company didn’t disclose which models it would sell in Canada or release pricing details. It said more information would be shared closer to the start of its commercial launch next year.

The Swiss stock market closed on a strong note on Friday like several other markets in Europe, as slightly easing geopolitical tensions and a drop in oil prices helped underpin sentiment. The benchmark SMI settled with a gain of 150.40 points or 1.1% at 13,787.40, after moving in a tight range between 13,723.97 and 13,811.46. Sonova climbed 3.6%. UBS Group, SGS and Straumann Holding moved up 2.76%, 2.46% and 2.3%, respectively. Schindler Ps gained a little over 2%. Kuehne + Nagel, Alcon, Sika, Lonza Group, Roche, Galderma Group, Swiss Re, Novartis, Richemont, ABB, Holcim, Lindt & Spruengli, Geberit and Givaudan also closed with impressive gains. Logitech International dropped about 2.5%. Swisscom drifted down 2.25%, while Helvetia Baloise Holding and VAT Group ended lower by 0.68% and 0.3%, respectively. A report from the State Secretariat for Economic Affairs said Switzerland's consumer confidence index edged up to -36 in September from -37 in the same month a year earlier, pointing to an improvement in household confidence but coming in below market expectations of -31.

Europe
After two successive days of losses, European markets turned in a fine performance on Friday as geopolitical tensions eased after U.S. President Donald Trump said the U.S. will not attack Iran before next month's midterm elections and termed ongoing discussions with Tehran as 'productive.' The pan European Stoxx 600 climbed 0.97%. The UK's FTSE 100, Germany's DAX and France's CAC 40 moved up 1.06%, 1.13% and 0.95%, respectively. Among other markets in Europe, Belgium, Czech Republic, Denmark, Finland, Netherlands, Norway, Poland, Russia, Spain, Sweden and Türkiye closed on firm note. Austria, Greece, Ireland and Portugal ended weak, while Iceland ended flat. In the UK market, Relx, Antofagasta, The Sage Group, ICG, Experian and Weir moved up 4%-5%. WPP, Spirax Group, IG Group Holdings, Convatec Group, Anglo American Plc, Glencore, Aberdeen Group, Fresnillo, 3i Group, Ithaca Energy and Metlen Energy & Metals climbed 2%-3.7%. Endeavour Mining, Rolls-Royce Holdings, BAE Systems, Melrose Industries, Haleon, Croda International, Compass Group, Rio Tinto and Smith & Nephew also closed with strong gains. Airtel Africa dropped more than 6%. Vodafone Group drifted down 4.9%. BT Group ended lower by about 2.3%, while Kingfisher shed 1.4%. In the German market, Zalando moved up nearly 4.5%. SAP surged 3.7%. Siemens, Bayer, Siemens Healthineers, Adidas, Porsche Automobil Holding, Fresenius Medical Care, Volkswagen, BME and Siemens Energy gained 2%-3%. In the French market, ArcelorMittal rallied 5.7%. Capgemini moved up 3.7% and Bureau Veritas climbed 3.6%.

United States
U.S. stocks rose after President Donald Trump said the U.S. would not strike Iran before the mid-term elections, quelling concerns about an escalation of the Middle East war and related energy-market chaos. The Dow Jones Industrial Average gained 423.31 points, or 0.83%, to 51654.95. The S&P 500 rose 46.18 points, or 0.59%, to 7811.54, closing near all-time highs. The tech-heavy Nasdaq Composite climbed 172.83 points, or 0.64%, to 27366.17. Shares of Delta Air Lines fell 3 cents to $82.17 after the Atlanta carrier cut its earnings growth projections for the year, citing persistently high fuel prices. Resilient demand, particularly from wealthy travelers, partially offset the impact of the higher costs, said Delta Chief Executive Ed Bastian. Cell-phone carriers slid after Elon Musk's SpaceX made a significant step toward entering the industry. The rocketry firm agreed to buy wireless spectrum from investment firm Grain Management for about $8 billion. T-Mobile US plunged 13% to $148.5. AT&T fell 9.8% to $22.18. Verizon slid 8.7% to $41.65. Fears about artificial-intelligence profits moderated as Wall Street analysts said a reduced revenue estimate from OpenAI could reflect technical accounting issues. The PHLX "SOX" Semiconductor Sector index fell 0.4%. Shares of health insurer Humana surged 12% to $431.87 after the company said 95% of its Medicare Advantage members were enrolled in plans rated at least four stars for 2027, boding well for its profit margins.

Asia
At the start of the week, stock markets in East Asia and Australia are mostly showing slight gains. The exception is the Seoul stock market, where the Kospi is down 3.0 per cent following Friday’s bank holiday. Here, the fall is being driven by losses from the two index heavyweights, Samsung Electronics (-3.5 per cent) and SK Hynix (-3.9 per cent).

Bonds
Treasury yields were mixed but remained near their recent highs as inflation and Federal Reserve policy worries lingered. The yield on the 10-year Treasury note ticked up 0.011 percentage point to 5.243%, closing within seven basis points of a multidecade high. The yield on the 30-year bond ticked down 0.01 percentage point to close at 5.598%. The yield on the two-year Treasury rose 0.036 percentage point to 4.789%.

Analysis
UBS lowers its Alstom target price to EUR 18 (24) – Neutral
Bank of America lowers its EssilorLuxottica target price to EUR 205 (237) – Buy
Bank of America lowers its TeamViewer target price to EUR 9.50 (9.70) – Buy


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