ASIA/PACIFIC
-The Australian stock market closed lower on Tuesday after the Reserve Bank of Australia held its benchmark rate at 4.35% for the 10th consecutive time.
-Asian stocks ended mixed on Tuesday after China’s trade surplus rose to $97.44 billion in November up from $95.27 billion in October, beating expectations.
-Inflows to equity mutual funds in November declined 14 percent to ₹35,943.49 crore against ₹41,886.69 crore in October, reveals the latest Association of Mutual Funds in India (AMFI) data released on Tuesday.
. EUROPE
-European markets closed in the red as Germany’s annual inflation rate rose to 2.2% in November.
-FTSE 100 firm Ashtead on Tuesday (Dec. 10) revealed plans to switch its primary listing to the US in the latest blow to the London Stock Exchange after a flood of exits this year.
-German insurer Allianz SE announced on Monday that it decided to modify its dividend policy and redistribute 75% of its net income to shareholders via dividends and share buy-backs over the next three years.
. AMERICAS
North America
– Wall Street closed lower ahead of CPI release due Wednesday (Dec.11).
Latin America
-Argentine energy company Pampa Energía tapped the US bond market for the second time this year, raising a less-than-expected $360 million in a sale of 10-year notes on Monday (Dec. 10), Latin Finance reported citing a source familiar with the deal.
-Brazil’s coffee industry has achieved a remarkable feat in 2024, exporting a record-breaking 46.4 million 60-kg bags of coffee, despite ongoing logistical hurdles at Brazilian ports.
. AFRICA
-Egypt considers issuing green, Islamic bonds in local market for first time during the first quarter of the next fiscal year, Ahmed Kouchouk, Minister of Finance, Daily News Egypt reported.
-THE Central Bank of Nigeria (CBN) has taken significant steps to stabilize the foreign exchange (FX) market with the launch of the Electronic Foreign Exchange Matching System (EFEMS) and the issuance of a $2.2 billion Eurobond by the Debt Management Office (DMO), Nigerian Tribune reported.
-Prescient Investment Management announced the listing of its Prescient Global Income Provider Feeder Actively Managed ETF (AMETF) on the Johannesburg Stock Exchange (JSE) under the share code PREGIP.
. MIDDLE EAST
-Saudi Arabian stock market ended higher while the Dubai bourse retreated on tax concerns as the UAE will impose a minimum top-up tax (DMTT) of 15% on large multinational companies operating in the country starting in January.
– Saudi Arabia and the UAE are expected to post strong credit growth next year on the back of high oil prices, according to Fitch Ratings.
-BHM Capital, the leading financial institution in the capital markets of UAE, has secured the largest share and is ranked first in attracting and opening new investor accounts as of November end, with some 37,000 accounts, data published on the Dubai Financial Market (DFM) website showed.
. COMMODITIES
GOLD
Spot gold had gained 0.4% to $2,669.84 per ounce, as of 0248 GMT while U.S. gold futures
rose 0.3% at $2,692.50. The yellow metal hit a two-week high on Monday, supported by China’s central bank resuming purchases after a six-month hiatus.
SILVER-PLATINUM-PALLADIUM
Spot silver added 0.6% to $31.98 per ounce, platinum steadied at $940.15 and palladium was up 0.3% to $976.25.
OIL
Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel. U.S. West Texas Intermediate crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both climbed more than 1% on Monday.
