ASIA/PACIFIC
-The Australian stock market closed flat on Monday as investors awaited the Reserve Bank of Australia’s rate decision.
-Asian stocks retreated with Seoul stocks leading regional losses after President Yoon Suk Yoon survived an impeachment vote in parliament as the fallout from his brief declaration of martial law continues to roil the country.
-Hong Kong stocks jumped nearly 3% as China’s Politburo pledged to ease monetary policy and boost fiscal support in 2025
. EUROPE
-Europeam markets closed higher with many markets in the region extending gains to an eighth straight session as the European Central Bank (ECB) is expected to cut interest rates again this week.
-Investor confidence in Eurozone in December is projected to decrease by 4.6 points to negative 17.5, its lowest level since November 2023, Sentix said.
-UK’s telecom giant Vodafone announced on Monday it officially signed what it described as a binding agreement to sell 100% of its operations in Italy to Swisscom AG.
. AMERICAS
North America
– US stocks finished the day firmly in negative territory. The major event this week is the U.S. consumer price index report, which is due Wednesday and could influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting.
Latin America
-After negotiations spanning more than 20 years and five years, the European Union and South America’s Mercosur trade bloc struck an agreement on a long-anticipated free trade deal on Friday (Dec. 6). Its goal is to reduce tariffs and trade barriers, making it easier for businesses on both sides to export goods.
-Bradesco, one of the largest financial institutions in Latin America, saw its stock plummeting 26% in 2024 amid recovery efforts.
. AFRICA
-Currency traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have warned that forex speculators will resist the rapid appreciation of the naira to cover their losses, Nairametrics reported.
-African capital markets are pushing for combined efforts to reduce market concentration risk, as part of reforms to improve governance and avert crashes in case of domestic or external shocks, the African Securities Association (Asea) president Celestin Rwabukumba told The EastAfrican.
– On Sunday’s (Dec. 8) auction, the weighted average yield on Egyptian three-month T-bills climbed to 31.42%, up from 31.2% in the previous auction, as the EGP continued its depreciation, exceeding EGP 50 per USD, Arab Finance reported.
. MIDDLE EAST
-Major stock markets in the Gulf closed higher with investors assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend.
-Shares in Turkish construction and cement companies surged, buoyed by expectations that they will benefit from rebuilding in Syria after rebels overthrew Assad, Reuters reported.
-Trading and investing platform eToro and the Abu Dhabi Securities Exchange (ADX) announced today the signature of an agreement to add a number of ADX-listed stocks to the eToro platform.
. COMMODITIES
GOLD
Spot gold was up 0.5% at $2,644.91 per ounce, as of 0238 GMT while U.S. gold futures added 0.3% to $2,666.80.
SILVER-PLATINUM-PALLADIUM
Spot silver gained 0.4% to $31.08 per ounce, platinum rose 0.5% to $934.75 and palladium added 0.7% to $963.00.
OIL
Brent crude futures fell by 1 cent to $71.11 per barrel by 1117 GMT. U.S. West Texas Intermediate crude futures rose by 1 cent to $67.21 per barrel.
