ASIA/PACIFIC
-The Australian stockmarket extended its losses on Thursday, taking the market to its worst monthly performance since April as investors grappled with a raft of updates.
-Asian markets slipped Thursday as investors reacted to the Bank of Japan’s rate hold. Chinese markets bucked the weak regional trend ahead of a highly anticipated top legislative bond meeting scheduled in Beijing on Nov. 4-8, with traders awaiting details of stimulus measures.
-The Reserve Bank of India (RBI) may cut its key policy rate by 25 basis points to 6.25 per cent in December to boost economic growth, according to a Reuters report citing a poll of economists.
. EUROPE
– European markets opened lower on Thursday and closed in the red ending October with its steepest loss for a year as investors digested third-quarter earnings reports, inflation and a landmark U.K. budget.
-UK 10-year yields, which are sensitive to changes in the budget, rose on Thursday to highest in a year, following yesterday’s Labour government’s budget reveal.
-The European Central Bank (ECB) said in its economic bulletin that “inflation is expected to rise in the coming months, before declining to target in the course of next year.”
. AMERICAS
North America
-The Nasdaq Composite and the S&P 500 suffered their worst day in nearly two months, while investors awaited Federal Reserve rate verdict and U.S. elections next week.
Latin America
-Argentina halts domestic banknote production and turns to foreign suppliers, the Rio Times reported.
-The surge of foreign capital into Brazil’s stock market observed between July and August struggled to maintain momentum through September and October, according to data from B3.
. AFRICA
-Egyptians’ gold purchases decreased by 17% in the third quarter of 2024, on an annual basis, totaling 10.4 tons, according to recent data from the World Gold Council.
-Africa’s financial markets are expanding at the fastest pace in seven years, Absa Group said in the report Thursday.
-South Africa projects wider deficits and rising debt despite improved growth, Africa News reported.
. MIDDLE EAST
-Boursa Kuwait’s operating profit increased by 21.27% from $48.25mln in 2023 to $58.50mln for the corresponding period in 2024, the stock exchange announced.
-Diriyah Company, a unit of Saudi Arabia’s PIF, is planning to list on Tadawul to tap into foreign pools of capital for its historical Diriyah giga project, Zawya reported citing the Group CEO Jerry Inzerillo.
-The IMF projects 4% growth rebound in Middle East and North Africa in 2025 in its latest Regional Economic Outlook.
. COMMODITIES
GOLD
Spot gold was steady at $2,786.89 per ounce, as of 0254 GMT, after hitting a record high of $2,790.15 earlier in the session. U.S. gold futures dipped 0.1% to $2,797.80, according to Reuters.
OIL
Brent crude futures gained 35 cents, or 0.5%, to $72.90 a barrel by 0029 GMT, extending the previous day’s rally. U.S. West Texas Intermediate crude futures climbed 32 cents, or 0.5%, to $68.93 per barrel.