ASIA/PACIFIC
-The Australian stock market closed in the green on Monday, marking a third straight session of gains and hitting its highest closing level in about a month.
-Asian stocks turned in a mixed performance as markets kickstarted what ING calls a “quiet” week for economic data from the region.
-Bank of Japan (BoJ) Governor Kazuo Ueda stated that the door remains open to more rate hikes should economic and price developments match the central bank’s forecasts.
. EUROPE
– Major European opened mostly higher but closed lower as investors braced for a week filled with key economic data, including inflation data from the UK and the final reading on the Eurozone consumer price index. On the agenda are also gross domestic product digits from Germany.
-European Central Bank (ECB) Vice-President Luis de Guindos told the Frankfurt Euro Finance Week that the growth outlook, both in the Eurozone and globally, is “clouded by uncertainty.”
– Hargreaves Lansdown, the UK’s biggest retail investment platform, is being sued by more than 5,000 investors who claim it kept recommending Neil Woodford’s equity fund – even as it ran into problems, City AM reported.
. AMERICAS
North America
– Stock indexes in the United States were mixed in the premarket trade as Wall Street awaits a major earnings week. The Nasdaq and the S&P 500 regained ground, although the narrower Dow ended the day modestly lower.
Latin America
– World leaders assembled in Brazil for a two-day G20 summit. Brazil has surpassed the United States to become the world’s largest cotton exporter.
-Argentine stocks soar 130% under Javier Milei’s free market reforms, since his election in November last year.
. AFRICA
-The Central Bank of Nigeria (CBN) said that some powers proposed for the Securities and Exchange Commission (SEC) in the new Investment and Securities Bill 2024 could conflict with existing laws on money laundering.
-Saudi Arabia and Tunisia sign deal to encourage direct investment, Saudi Press Agency reported.
-Egypt’s annual urban headline inflation remained broadly stable for the third consecutive month at 26.5% in October 2024.
. MIDDLE EAST
-Most stock markets in the Gulf rose in the early trading on Monday, tracking higher oil prices but ended the day lower hurt by concerns that the U.S. Federal Reserve would slow its pace of interest-rate cuts.
-Saudi companies may list on Hong Kong stock exchange, Hong Kong Exchanges and Clearing (HKEX) Chairman Carlson Tong Ka-shing told South China Morning Post.
-BlackRock has obtained a commercial license in Abu Dhabi to tap into region’s capital markets.
. COMMODITIES
GOLD
Spot gold jumped 1.1% to $2,590 an ounce, recovering from its sharp fall last week.
OIL
Brent crude futures gained 20 cents, or 0.3%, to $71.24 a barrel by 0130 GMT, while U.S. West Texas Intermediate crude futures were at $67.11 a barrel, up 9 cents, or 0.1%.
