ASIA/PACIFIC
-The Australian stock market closed lower on Tuesday after the Reserve Bank kept interest rates on hold for the eighth meeting in a row.
-Asian markets traded mixed as Chinese Premier Li Qiang expressed confidence that his government can pull off an economic recovery and the Caixin China Purchasing Managers Index (PMI) reached 52.0 in October, indicating growth in the sector, according to a report released by S&P Global.
-Malaysia expects its ‘remarkable’ IPO boom to continue in 2025: CEO of local exchange eyes 50 listings, 20-year high on robust economy, Nikkei Asia reported.
. EUROPE
– Major stock indices in Europe opened mostly lower.
-The European Council reached an agreement to introduce the value-added tax (VAT) for the platform economy, including online accommodation rental and passenger transport services.
-The unemployment rate in Switzerland remained at 2.6% in October.
. AMERICAS
North America
– U.S. stock futures rose slightly as as market participants braced for the outcome of the U.S. presidential election.
Latin America
-The European Union has solidified its trade ties with Peru, Colombia, and Ecuador, as a long-awaited commercial agreement took effect on November 1, 2024.
-Unemployment in Brazil fell to 6.4 % in the third quarter of 2024 (from July to September), according to a report from Brazil’s Institute of Geography and Statistics (IBGE).
. AFRICA
-Personal loans owed by Nigerians to commercial banks fell from N7.52 trillion in the first quarter of 2024 to N3.47 trillion in the second quarter of the year, according to the latest CBN’s quarterly economic report for Q2 2024.
-South Africa: Expectations for another interest-rate cut on November 21, Bizcommunity.com reported.
-The Central Bank of Egypt (CBE) received 28 offers worth €922.8m to cover an issuance of local treasury bills denominated in the European currency, Daily News Egypt reported.
. MIDDLE EAST
-Saudi Arabia’s state energy giant Aramco’s Q3 2024 net profit dropped 15% year-on-year (YoY) to $27.6 billion, over lower crude oil prices and weakening refining margins.
-UAE banking sector hit an all-time-high of $136.94bln in capital and reserves in July, according to the latest data released by the Central Bank of the UAE (CBUAE).
– China’s finance ministry plans to sell up to $2 billion in US dollar sovereign bonds in Saudi Arabia for the week of November 11, the ministry said.
. COMMODITIES
GOLD
Spot gold was little changed at $2,739.79 an ounce by 1231 GMT while U.S. gold futures edged up 0.1% to $2,749.20,
OIL
Brent Brent crude futures ticked up 31 cents, or 0.4%, to $75.39 a barrel, while U.S. West Texas Intermediate crude was at $71.76 a barrel, up 29 cents, or 0.4%, according to Reuters.
