Asian stocks are set to build on Monday's gains following Donald Trump's selection of Scott Bessent as Treasury Secretary, which has boosted US bonds and shares. Australian shares rose, while futures indicate advances in Japan and Hong Kong, as the dollar experienced its largest decline in over two weeks. Meanwhile, Bitcoin's recent surge toward $100,000 has stalled just below that milestone.
Digicel Group has informed creditors of its cooperation with a US Justice Department investigation regarding an alleged violation of the Foreign Corrupt Practices Act. The company, which recently reported improved earnings following a debt restructuring, did not provide further details about the investigation's scope or specifics during a private earnings call.
New Zealand's government is urging the Reserve Bank to reassess its rules that may hinder community housing providers from securing financing at favorable rates. Housing Minister Chris Bishop announced that the Minister of Finance will emphasize prioritizing the treatment of these providers in the ongoing review of standardized risk weights.
The Biden administration is proposing a $4.9 billion conditional loan guarantee for the Grain Belt Express, a high-voltage transmission line project that will run from Kansas to Missouri. This 2,500-megawatt line, developed by Invenergy LLC, aims to connect regional power networks and enhance grid reliability. However, the funding could be rescinded by the incoming Trump administration if not finalized before the January 20 inauguration.
Wendel SE is considering the sale of Stahl Holdings BV, a chemical manufacturer specializing in coatings and surface treatments. The French investment firm is collaborating with JPMorgan Chase & Co. and Morgan Stanley on the potential divestment, which could occur as early as next year, with Stahl's valuation estimated at up to €2 billion ($2.1 billion).
Wells Fargo & Co. is beginning to see the benefits of its strategic expansion on Wall Street, according to Vice Chairman Doug Braunstein. He highlighted the bank's role in Quikrete Holdings Inc.'s acquisition of Summit Materials Inc. and emphasized ongoing efforts to strengthen its position in the market next year.
The FTSE 100 has shown a year-to-date increase of around 7.5%, underperforming compared to European and US indices. Analysts project a potential rise to the psychological 9000 mark in 2025, contingent on breaking key resistance levels, while stable dividends and significant share buybacks indicate corporate confidence. A bearish reversal below 7916 could jeopardize the long-term uptrend.
IG
23:05 25.11.2024
Firefly Aerospace has set a January launch date for its first lunar lander mission, Blue Ghost 1, which will carry 10 NASA payloads. The spacecraft, launching on a SpaceX Falcon 9, will take about 60 days to complete its mission, including a 45-day transit to the moon, landing near Mons Latreille. This announcement follows delays in the schedules of other commercial lunar lander missions, with none now launching in the fourth quarter of this year.
Gold and WTI prices have declined, with gold experiencing a sharp drop after recent gains, targeting lows of $2555 and $2480. WTI is also retreating below $72, with potential further losses aimed at $67 and $65. In contrast, natural gas prices remain steady, maintaining a bullish trend despite recent fluctuations.
IG
23:00 25.11.2024
The FTSE 100, DAX 40, and NASDAQ 100 all gapped higher on Monday morning, continuing their positive momentum. The FTSE 100 reached an intraday high of 8319, facing resistance between 8326 and 8372, while the DAX 40 tested resistance at 19,438. The NASDAQ 100, buoyed by a drop in the 10-year Treasury yield, is expected to fill the gap with Friday's high of 20,799 and may approach the psychological level of 21,000.
IG
22:55 25.11.2024
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