ASIA/PACIFIC
-The Australian stock market extended its losses on Friday hitting a 3-month low.
-Asian markets mostly fell as investors looked over Japan’s published inflation data showing a rise to 2.9%.
-The People’s Bank of China held its loan prime rates steady leaving the one-year rate unchanged at 3.1% and the five-year rate at 3.6%.
. EUROPE
– European stock market traded with losses as investors turned to economic reports.
-German producer prices rose 0.1% in November while UK retail sales went up 0.5% last month.
-Private equity faces an exit problem in Europe as bigger deals beckon bankers and investors told Reuters.
. AMERICAS
North America
-U.S. stock moved sharply higher over the course of the trading day as November’s reading of the personal consumption expenditures price index — the Federal Reserve’s favorite inflation gauge — increased 2.4% year over year.
Latin America
-Several major financial institutions are reportedly in talks to acquire Julius Baer’s Brazilian unit.
-The Central Bank of Mexico (Banxico) announced a reduction in its benchmark interest rate by 25 basis points.
. AFRICA
-Nigeria Exchange’s CEO plans tokenization of Nigerian assets to attract Gen Z and Millennials, Nairametrics reported.
-Egypt’s Madkour Group is negotiating to develop a natural gas power plant with investments exceeding $200 million in Mauritania, a group official told Al-Arabiya Business.
-Congo loses first round of $180mln top cobalt miner suit, The East African reported.
. MIDDLE EAST
-The Gulf Cooperation Council (GCC) debt capital market surged 11% year-on-year to reach $1 trillion between January and November 2024, Zawya reported citing Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings.
-British oil major BP said it has reached a deal with the Iraqi government on the technical terms to redevelop the Kirkuk oil and gas fields.
-Franklin Templeton has added the FTIFF Franklin India Fund to its Dubai International Financial Centre (DIFC) fund range Franklin Templeton Investments Feeder Funds (FTIFF) for the onshore UAE retail market.
. COMMODITIES
GOLD
Spot gold was little changed at $2,596.89 per ounce, as of 0326 GMT while U.S. gold futures nudged 0.1% higher to $2,611.30.
SILVER-PLATINUM-PALLADIUM
Spot silver fell 0.4% to $28.92 per ounce. Platinum was down 0.3% at $920.80 and palladium
steadied at $906.47.
OIL
Brent crude futures fell by 31 cents, or 0.43%, to $72.57 a barrel by 0139 GMT. U.S. West Texas Intermediate crude futures fell 26 cents, or 0.26%, to $69.12 per barrel.
