ASIA/PACIFIC
-The Australian stock market closed higher on Friday tracking a rally on Wall Street overnight.
-Chinese stocks plunged as weak corporate earnings, worries about economic growth as well as concerns about the efficacy and sufficiency of stimulus measures weigh.
-Japanese stocks traded in the green as core inflation rose 2.3% from a year ago and Japan’s cabinet okayed a $141B stimulus spending.
. EUROPE
-European stocks closed higher as investors reviewed weak economic indicators from across the region which built expectations for central bank rate cuts.
– Eurozone’s Flash Composite Purchasing Managers’ Index (PMI) Output Index reached a ten-month low in November at 48.1 and decreasing by 1.9 index points from the previous month, S&P Global and Hamburg Commercial Bank (HCOB) said. Following the release, the euro hit its lowest level against the dollar since 2022.
-Russian Deputy Prime Minister Alexander Novak shared on Friday that Moscow plans to lift the ban on the export of gasoline soon.
. AMERICAS
North America
-Extending the upward move seen over the course of Thursday’s session, U.S. stocks saw continued strength during trading on Friday.
Latin America
-The Confederation of Agriculture and Livestock of Brazil (CNA) projects a 1.9% decline in the sector’s Gross Production Value (GPV) for 2024.
. AFRICA
-The Nigerian National Petroleum Corporation Limited (NNPCL) has introduced its latest crude oil grade, the Utapate crude oil blend, to the international market and plans to double output by 2025.
-The Egyptian pound has fallen to its lowest value since devaluation in March, Bloomberg reported.
-The South African Reserve Bank reduced its key interest rate by 25 basis points to 7.75% on Thursday (Nov. 21), as anticipated, bringing borrowing costs to their lowest level since April 2023.
. MIDDLE EAST
-Nasdaq Dubai announced on Thurdsday the listing of 2 bonds by the Ministry of Finance of the People’s Republic of China. One is a three-year US$1.25 billion bond, and another is a five-year US$0.75 billion bond.
-As of the end of September 2024, Kuwait’s holdings of US Treasury bonds reached their highest level in 21 months (since December 2022), amounting to $48.52 billion, Al-Seyassah daily reported.
-Banque Misr secured a $1bln financing from Emirates NBD and Mashreq Bank.
. COMMODITIES
GOLD
Spot gold jumped 1.4% to $2,707.05 per ounce as of 1022 GMT, hitting its highest since Nov. 8. U.S. gold futures gained 1.3% to $2,709.70
SILVER-PLATINUM-PALLADIUM
Spot silver rose 1.7% to $31.31 per ounce, platinum eased 0.1% to $959.57 and palladium fell 1.2% to $1,016.90. All three metals were on track for a weekly rise.
OIL
Brent crude futures climbed 33 cents, or 0.44%, to $74.56 a barrel by 1008 GMT. U.S. West Texas Intermediate crude futures rose 27 cents, or 0.39%, to $70.37 per barrel.
