ASIA/PACIFIC
Asian stock markets closed mixed on Wednesday, as investors assessed the impact of U.S. President Donald Trump’s new tariffs on regional economies and Federal Reserve Chair Jerome Powell’s comments on interest rates and economic stability. While some markets showed resilience, uncertainty loomed over the potential economic headwinds caused by trade policies.
EUROPE
European stock exchanges ended the session on a positive note, with strong corporate earnings lifting investor sentiment. Heineken’s stock surged over 11% after the brewing giant posted better-than-expected full-year financial results, contributing to overall market optimism.
AMERICAS
Wall Street opened lower on Wednesday, reacting to a higher-than-expected U.S. inflation report, which intensified investor fears that the Federal Reserve may delay interest rate cuts. The inflation data has rekindled fears of prolonged high borrowing costs, which could dampen economic growth and corporate profitability in the months ahead.
AFRICA
Fitch Ratings commentary and research has said that Nigerian third-tier banks are more likely to pursue mergers and acquisitions (M&A) or downgrade their licences as they strive to meet the Central Bank of Nigeria’s (CBN) new paid-in capital requirements.
MIDDLE EAST
Gulf markets closed in the red, as investors remained cautious over the uncertainty surrounding U.S. import tariffs and the Federal Reserve’s stance on rate cuts. In corporate news, Saudi-based buy-now-pay-later (BNPL) app Tabby is reportedly working with banks for an IPO, according to Bloomberg. Meanwhile, Israel raised $5 billion through five- and ten-year bonds in an international debt offering, the finance ministry announced.
COMMODITIES
GOLD
Spot gold eased 0.2% to $2,893.87 per ounce while U.S. gold futures fell 0.5% to $2,918.8. The decline came after strong U.S. inflation data dampened expectations for Federal Reserve rate cuts.
OIL
Brent futures were down $1.09 or 1.42% at $75.91 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped $1.14 or 1.55% to $72.18 a barrel. The losses followed industry reports showing a build-up in U.S. crude inventories.
