ASIA/PACIFIC
-The Australian stock market closed largely flat on Wednesday ahead of the U.S. Federal Reserve’s last policy announcement of the year.
-Asian stocks ended mixed in cautious trade heading into Thursday’s Bank of Japan interest-rate decision.
-Japanese exports grew 3.8% in November year-on-year, while imports fell by 3.8%, coming in far below expectations of a 1% expansion.
. EUROPE
– European stock exchanges closed slightly higher after a cautious session as investors digested the latest batch of regional economic data including Eurozone’s November inflation which was revised down to 2.2%.
-Executive Board Member Philip R. Lane said on Wednesday that the bloc’s disinflation process is “well on track” to reach the ECB’s 2% target by 2026.
-Italy’s UniCredit increased its stake in Germany’s Commerzbank to 28%, stating that “substantial value exists within Commerzbank that needs to be crystallized.”
. AMERICAS
North America
-U.S. stocks plummeted in reaction to the Federal Reserve’s monetary policy announcement. The central bank cut the key lending rate by 25 basis point as expected with its Chair Jerome Powell insisting that more progress on inflation is needed for further rate cuts.
Latin America
-BlackRock, the global investment giant, has quietly increased its stake in Itaúsa, a key player in Brazil’s financial landscape.
-Ecuador sews up debt-for-nature swap: Government picks up $1 bln loan in deal expected to unlock $800 million for rainforest conservation and other outlays, Latin Finance reported.
. AFRICA
-Egypt aims to strengthen business climate to boost local, foreign investments, Hassan El-Khatib, Minister of Investment and Foreign Trade told the House of Representatives.
-The National Bureau of Statistics (NBS) has revealed that African investors (excluding those from Nigeria) contributed 22.76% of the total foreign capital imported into Nigeria in the third quarter of 2024.
-Mining operational costs stabilise in South Africa as 2024 closes, but challenges persist, according to the latest data from the Minerals Council South Africa.
. MIDDLE EAST
-Most stock markets in the Gulf fell on Wednesday as investors exercised caution.
-UAE and Saudi Arabia drive Middle East M&A to $36bln in the first 10 months of 2024 according to Bain & Company.
-A unit of the Abu Dhabi Investment Authority (ADIA) and UK property firm Grosvenor have collectively sold a 92% stake in the UK’s Liverpool ONE shopping centre to Landsec in a deal valued at £490 million ($622 million), Zawya reported.
. COMMODITIES
GOLD
Spot gold nudged 0.1% higher to $2,648.43 per ounce by 0237 GMT while U.S. gold futures were flat at $2,663.20, according to Reuters.
SILVER-PLATINUM-PALLADIUM
Spot silver was down 0.2% at $30.46 per ounce, platinum shed 0.1% to $937.72, while palladium
gained 0.3% to $937.04.
OIL
Brent futures inched up 12 cents, or 0.16%, to $73.31 a barrel by 0134 GMT, while U.S. West Texas Intermediate crude rose 11 cents, or 0.16%, to $70.19 a barrel.
