Half Day today in the US
The yen strengthened Friday as Tokyo inflation data exceeded estimates. Asian stocks rose. Shares in China gained amid speculation that Beijing will provide more support for the economy at a key policy meeting in December. The nation also extended tariff exemptions on some American items, implying it may be less willing to take a hard line amid US trade tensions. US markets were closed Thursday for the Thanksgiving holiday. Shares in Australia and Japan fell, while South Korea’s declined most in the region as a surprise interest-rate cut by the central bank shifted investor focus to slowing economic growth. MSCI’s regional equity gauge rose 0.5% Friday, though was on track for a second straight monthly loss. The yen rose to the highest level in more than a month against the greenback, strengthening past 150. The dollar slipped against major currencies, with an index of greenback strength headed for its first weekly decline in two months. Treasury yields fell as cash trading in Asia resumed. The moves underscored the muted appetite for risk across global markets during a week that is typically marked by lower volumes due to the US holiday. Month-end positioning may also prompt some investors to rebalance portfolios after a record high for American stocks this week. US equity futures climbed. Gains for Japan’s currency were helped by Tokyo inflation data that showed prices rose more than expected on a headline basis, but broadly in line with estimates once fresh food and energy were excluded. Swaps market pricing indicates a more than 60% chance the Bank of Japan will raise interest rates when it meets next month. Japan may also delay a decision on raising taxes to help cover rising defense spending, a senior ruling coalition official said. China’s health-care stocks gained after the latest national reimbursement drug list results from the body overseeing national medical insurance. Among the new entrants, a record 38 are innovative medicines. The nation’s food, beverage and dining stocks also advanced after officials held a meeting to boost consumption. Indonesia’s benchmark stock index fell about 10% from its year’s high, heading for a technical correction brought on by slowing economic growth and regional uncertainties after Donald Trump’s win in the US election. Australian 10-year bond yields were flat after Reserve Bank Governor Michele Bullock said core inflation remains too high and pushed back on expectations of near-term rate cuts. The Australian dollar strengthened against the greenback Friday. Elsewhere in currency markets, Brazil’s real tumbled to a record low on disappointment over a government plan to cut spending, while Mexico’s peso rallied amid thin trading due to the US holiday. Some investors are also recalibrating their expectations for US inflation and future Federal Reserve interest rate cuts following data released earlier in the week. In PCE data released earlier this week, “core services came out quite strong,” said Kevin Thozet, a member of the investment committee at Carmignac. “We are not heading for double-digit inflation but the disinflationary trend is stalling. The result of the US elections could prolong this cycle with tax cuts.” In commodities, oil gained, with the market now looking ahead to an upcoming OPEC+ meeting that has been delayed until Dec. 5. Gold rose for a fourth session, though is still on pace to drop for the first month in the past five.
Nikkei -0.37% Hang Seng +0.02% CSI +1.27% Shanghai +1.02% Shenzen +1.69%
Eur$ 1.0572 CNH 7.2350 CNY 7.2322 JPY 150.08 GBP 1.2711 CHF 0.8814 RUB 108.0001 TRY 34.6901 WTI$ 69.16 +0.64% Gold 2,661 +0.88% BTC 94,495 +1.44% ETH 3,590 +0.48%
S&P +0.27% Nasdaq +0.46% EuroStoxx -0.17% FTSE +0.04% Dax -0.17% SMI +0.03%
Macro :
- BofA Sees More IPOs in Switzerland, Germany in 2025: ECM Watch
- UK Dealmakers Unveil Year-End Push as M&A Wave Hits $160 Billion
- Turkey GDP Set to Fall For First Time Since Pandemic
- US Bitcoin ETFs Head for Record Monthly Inflow on Trump Optimism
Keep an eye on :
Keep an eye on :
- AT1 GY : Aroundtown Won’t Exercise Option to Call Perpetual Notes
- AV/ LN : Aviva goes direct to Direct Line shareholders
- CICN SW : Cicor Techno: OEP has converted its mandatory convertible notes and will make a public offer to the shareholders of Cicor
- ACA FP : UniCredit, Credit Agricole CEOs Set to Meet on BPM Bid: Corriere
- DHER GY : Delivery Hero Sets Talabat Final IPO Price at Top of Range, Talabat Had Set IPO Price Range at AED1.50-AED1.60 Per Share
- DHER GY : Delivery Hero Prices Talabat's IPO At Top End of Range
- ELI BB : Elia Group Boosts FY Adjusted ROE Forecast
- ELIS FP : Elis: Elis Buys Carsan in Spain
- ENI IM : Eni Repurchases Two Series of Notes due June 2026
- EQT SS : EQT Withdraws Proposal to Acquire India’s Theobroma
- EVT GY : COO Craig Johnstone to step down; effective Dec 31st
- GLEN LN : Glencore Makes Deal with Pele Green for $116 Million Solar Plant
- HEI GY : Carlos Slim’s Grupo Carso Sells Fortaleza Unit for $600M
- RMS FP : Hermes Family in Talks to Buy Stake in Insurer Albingia: Echos
- HSBA LN : HSBC to Pull Back Credit Card Business Service in China: Rtrs
- BOSS GY : German Prosecutor Weighs Probe of Hugo Boss CEO, Benko Comms: HB
- IIA AV : Immofinanz 9M Rental Income EU435.6M Vs. EU389.2M Y/y
- NETC DC : Netcompany Enters Baltic Market with Lithuanian Deal
- OLX FP : Pluxee Buys Beneficio Facil in Brazil; No Terms
- RNO FP : Renault Goes on China Hiring Spree to Bolster EV Push at Home
- Revolut IPO : Revolut Will Let Former Staff Sell Stock in Secondary Sale
- LRE SM : Spanish Regulator Authorizes Helios Takeover Bid for Lar Espana
- LHA GY : EU Expected to Approve ITA-Lufthansa Remedies Tomorrow: Radiocor
- NOEJ GY : Norma Plans to Sell Global Water Management Activities
- 3382 JP : Japan Industrial Partners Bid for Seven & i’s York Holdings: NHK
- 3382 JP : Registers to sell up to ¥600B in bonds
- SYENS BB : Syensqo Completes First Tranche of €300M Share Buyback Program
- TKA GY : Scholz Calls on Thyssenkrupp to Keep Jobs, Supports Grid Fee Cap
- UCG IM : UniCredit Criticizes BPM’s Job Cuts Projection in Potential Deal
- UCG IM : UniCredit, Credit Agricole CEOs Set to Meet on BPM Bid: Corriere
- VOW GY : Qatari Sovereign Wealth Fund to Buy Audi F1 Stake: Sky News
- WISE LN : Wise rebuked by European watchdog over money laundering controls