ASIA/PACIFIC
-The Australian stock market was boosted by a raft of soaring stocks as investors awaited details of a much-anticipated economic stimulus package from China.
-Asian markets closed mixed Friday, after the Bank of England and the U.S. Federal Reserve cut interest rates by a quarter point and major U.S. indexes continued their postelection rally.
-Japan’s Finance Minister Shunichi Kato said that the government will take action against sudden and significant shifts in the foreign exchange market.
. EUROPE
– Major European stock indices closed weak with investors reacting to corporate earnings announcements, and assessing central banks’ interest rate decisions.
-France’s trade deficit widened to a near one-year high in September, data from customs office showed on Friday.
-Germany’s coalition collapse brings more pain to its ailing economy, with a third of German companies indicating in a recent survey plans to scale investment back.
. AMERICAS
North America
– Extending the substantial rally seen over the past few sessions, U.S. stocks climbed to another round of records. The Dow and S&P 500 wrapped up their best week in a year after Donald Trump’s election win.
Latin America
-Russia and Venezuela have deepened their alliance through 17 new bilateral agreements, marking a significant shift in global power dynamics.
. AFRICA
-Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib will unveil the state’s updated initial public offering (IPO) program before the end of November, Prime Minister Mostafa Madbouly told a press conference.
-The Central Bank of Nigeria grants banks approval to trade idle FX deposits from ‘designated domiciliary’ accounts, Nairametrics reported.
-Ghana’s crude oil output increased by 10.7% year-on-year in the first six months of 2024, reversing an annual production decline that began five years prior, the country’s public interest and accountability committee (PIAC) reported.
. MIDDLE EAST
-Saudi and UAE central banks slashed interest rates by 25bps after the US Fed announced its second interest rate cut this year. Bahrain and Qatar c-banks reduce rates effective from Sunday, November 10.
-Dubai Financial Market recorded $10.51mln in major trades on Al Ansari Financial Services and Ajman Bank, Emirates News Agency reported.
-National Bank of Bahrain (NBB), which began to explore a potential merger with the Bank of Bahrain and Kuwait (BBK) earlier this year, has begun the preliminary proceedings, according to Zawya.
. COMMODITIES
GOLD
Spot gold fell 0.4% to $2,697.19 per ounce as of 0251 GMT while U.S. gold futures were flat at $2,704.50, and the U.S. dollar index was set for a slight weekly gain after Trump’s election victory. A stronger dollar makes bullion more expensive for overseas buyers.
SILVER-PLATINUM-PALLADIUM
Spot silver fell 0.8% to $31.75 per ounce, platinum fell 0.2% to $994.80 and palladium shed 0.21% to $1,022.36.
OIL
Brent crude oil futures fell 26 cents, or 0.3%, to $75.37 per barrel by 0209 GMT. U.S. West Texas Intermediate (WTI) crude gained 35 cents or 0.5% to $72.01, according to Reuters.
TODAY’S MARKET DATA SNAPSHOT
STOCK INDEX – PRICE – CHANGE
| ASX200 | 8295.1 | 0.84% |
| NIKKEI | 39500.37 | 0.30% |
| NIFTY50 | 24148.2 | -0.21% |
| HSI | 20728.19 | -1.07% |
| SSE | 3452.3 | -0.53% |
| DAX | 19215.48 | -0.76% |
| FTSE | 8072.39 | -0.84% |
| CAC | 7338.67 | -1.17% |
| FTSE MIB | 33816.58 | -0.48% |
| STOXX600 | 506.63 | -0.65% |
| DJIA | 43988.99 | 0.59% |
| S&P 500 | 5995.54 | 0.38% |
| NASDAQ | 19286.78 | 0.09% |
