As trading commences on Monday, November 11, 2024, investors will closely monitor key economic indicators from around the world that are poised to significantly influence the market. The release of inflation data out of the U.S. and Germany will be the central focus for investors this week.
ASIA/PACIFIC
-The Australian stock market closed lower, with the big miners falling sharply after China’s new economic package fell short of expectations.
-Asian markets mostly slipped as China’s weak inflation data and stimulus underwhelmed investors.
-The Bank of Japan’s summary of opinions showed that the bank is of the opinion it must exercise caution when conducting monetary policy. Meanwhile, Ishiba was appointed PM by Japan’s parliament, will lead minority government.
. EUROPE
– Major European stock markets closed higher as investors assessed the recent decision by both the Bank of England and the United States Federal Reserve to reduce their key interest rates by 25 basis points.
-Deutsche’s private bank fires over 100 senior bankers in cost-cutting drive, the Financial Times reported.
-Eastern Europe and Middle East will lead emerging sovereign bond sales in 2025, Barclays said.
. AMERICAS
North America
– Major stock indices in the United States traded in the green during premarket hours on Monday.
Latin America
-Paraguayan Central Bank (BCP) President Carlos Carvallo said Friday in Luque at the Expo Paraguay Brazil convention that inflation in his country was no longer a concern.
. AFRICA
-Egypt will auction $1.5 billion in one-year T-bills today (Nov. 11), the central bank said on Sunday.
-The US has written off more than $1.1 billion of Somalia’s debt, the East African reported.
-Nigeria’s fiscal deficit surpasses budget projections, reaches 7.6% of GDP, according to Central Bank of Nigeria Monetary Policy Committee members’ personal statements.
. MIDDLE EAST
-Most stock markets in the Gulf ended mixed on Monday Monday amid weak oil prices.
-Dubai International Financial Centre (DIFC) today (Nov. 11) announced the full redemption and on-schedule repayment of a US$700mn Sukuk.
-Talabat Holding, which runs one of the Middle East’s largest food ordering businesses, plans to sell 3.49 billion shares amounting to a 15% stake through an initial public offering (IPO) in Dubai, the company said, in a deal seen as one of UAE’s biggest listings this year.
. COMMODITIES
GOLD
Spot gold dropped 0.5% to $2,669.22 per ounce, as of 0306 GMT while U.S. gold futures fell 0.7% to $2,675.90.
SILVER-PLATINUM-PALLADIUM
Spot silver fell 0.4% to $31.17 per ounce, platinum rose 0.3% to $971.11, and palladium added 0.5% to $993.74.
OIL
Brent crude futures fell 9 cents, or 0.1% to $73.78 a barrel by 0916 GMT while U.S. West Texas Intermediate crude futures were at $70.23 a barrel, down 15 cents, or 0.2%.
TODAY’S MARKET DATA SNAPSHOT
STOCK INDEX – PRICE – CHANGE
| ASX200 | 8,266.20 | -0.35% |
| NIKKEI | 39,533.32 | +0.08% |
| NIFTY50 | 24,141.30 | -0.03% |
| HSI | 20,426.93 | -1.45% |
| SSE | 3,470.07 | +0.51% |
| DAX | 19,448.60 | +1.21% |
| FTSE | 8,125.19 | +0.65% |
| CAC | 7,426.88 | +1.20% |
| FTSE MIB | 34,343.83 | +1.56% |
| STOXX600 | 512.37 | +1.13% |
| DJIA | 44,293.13 | +0.69% |
| S&P 500 | 6,001.35 | +0.10% |
| NASDAQ | 19,298.76 | +0.06% |
