ASIA/PACIFIC
-The Australian stock market closed in the green following gains from utilities, real estate and banking stocks.
-Asia markets were mixed Friday with investors also assessing China and Japan economic data.
-China’s industrial output showed an increase of 5.3% in October, which was lower than analysts’ expectations. Japan’s industrial production was up by 1.6% in September while its gross domestic product grew by 0.2% exceeding expectations.
. EUROPE
– Major European markets closed lower Friday after a choppy session weighed by the latest economic data.
-UK economy grew 0.1% in Q3, the county’s trade deficit was up to £11.4 billion in Q3, and industrial production down by 0.5% in September.
-Spain’s Deoleo, the world’s largest olive oil producer, told CNBC that ‘liquid gold’ prices are on track to halve from record levels.
. AMERICAS
North America
– U.S. stocks moved lower during trading on Friday, extending the downward move seen over the course of the previous session, after U.S. Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to cut rates.
Latin America
– B3, Brazil’s stock exchange operator, reported a net income of R$1.2 billion ($210.5 million) in Q3 2024, marking a 12.1% increase from the previous year.
-Mexico’s central bank, Banco de México (Banxico), has reduced its benchmark interest rate by 25 basis points to 10.25%.
. AFRICA
-Egypt’s General Authority for Investment and Free Zones (GAFI) has launched six new free zones to attract foreign investments CEO Hossam Heiba told Asharq Business.
-Nigeria plans to issue $1.7 billion Eurobond to fund 2024 budget, Nairametrics reported.
-Johannesburg Stock Exchange fined former Ramaphosa advisor Thabi Leoka over fake PhD scandal.
. MIDDLE EAST
-Fitch Group has announced the approval of its regional headquarters (RHQ) licence by the Ministry of Investment of Saudi Arabia (MISA). This RHQ will expand Fitch Group’s long-standing presence in the Middle East.
-Qatar saw a 58% surge in contract awards reaching $4.2bln in Q3, with the gas sector representing the lion’s share (94.6%) of the total amount of contracts awarded, The Peninsula reported.
-Gulf Cooperation Council (GCC) banks are expected to maintain strong performance in 2025, even though they will likely be modestly affected by lower interest rates, S&P Global Ratings credit analyst Dr. Mohamed Damak told Zawya.
. COMMODITIES
GOLD
Gold prices on Friday were on track for their biggest weekly decline in over three years, according to Reuters. Spot gold lost 0.1% to $2,562.59 per ounce. U.S. gold futures fell 0.2% to $2,567.20.
SILVER-PLATINUM-PALLADIUM
Spot silver fell 0.5% to $30.28 per ounce, platinum was up 0.3% at $942.90 and palladium added 0.8% to $949.00. All three metals were headed for weekly falls.
OIL
Crude oil futures on Friday posted a loss for the week. West Texas Intermediate December contract: $67.02 per barrel, down $1.68, or 2.45%. Brent January contract: $71.04 per barrel, down $1.52, or 2.09%.
TODAY’S MARKET DATA SNAPSHOT
STOCK INDEX – CLOSING PRICE – CHANGE
| ASX200 | 8,285.20 | 0.74% |
| NIKKEI 225 | 38,642.91 | 0.28% |
| STOXX600 | 503.12 | -0.77% |
| DJIA | 43,444.99 | -0.70% |
| S&P 500 | 5,870.62 | -1.32% |
| NASDAQ | 18,680.12 | -2.24% |
