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US inflation has decreased this year, influenced by the owners' equivalent rent, which does not reflect actual consumer spending power. The Fed, having been slow to cut rates, is expected to proceed cautiously next year, especially amid uncertainties from potential sales taxes under President-elect Trump. Meanwhile, the UK may also lower rates gradually due to deflation in input producer prices, while the ECB's consumer price inflation figures remain stable and largely unreactive.
UBS Group AG has reduced its stake in Equals Group Plc to below 5%, exempting it from detailed reporting obligations. This reduction may diminish UBS's influence over the company, potentially affecting market dynamics and stakeholder relations. Equals Group Plc specializes in payment solutions and financial management services, aiming to enhance efficiency and manage currency risks.
By the end of 2025, the US cryptocurrency landscape is poised for significant change, driven by Republican leadership and anticipated regulatory clarity that will foster innovation. As over 80 countries explore Central Bank Digital Currencies (CBDCs), the UK is leading with a regulated platform for digital currencies, while the US is expected to adopt a more favorable regulatory stance under the incoming Trump administration. Increased institutional trading activity and the need for robust infrastructure will shape the market, alongside a push for global regulatory coordination to ensure financial stability.
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
The FCA has proposed the Private Intermittent Securities and Capital Exchange System (PISCES), a new platform for trading shares in private companies, aimed at enhancing investment opportunities and funding for growth. This initiative responds to the increasing demand for easier trading in private markets and is part of broader reforms to boost UK capital market competitiveness. The FCA is consulting on risk warnings to ensure informed investment decisions as it collaborates with industry stakeholders to establish a supportive regulatory framework.
AstraZeneca is enhancing its global operations with a $3.5 billion investment in the U.S. through 2026, creating over 1,000 high-skilled jobs, while navigating challenges in China following leadership changes. Strong demand for cancer and rare-disease treatments has led to improved financial performance, prompting a raised sales outlook. The company’s strategic refresh includes new board appointments to bolster governance and digital capabilities, reflecting confidence in its growth trajectory.
IG
The FTSE 100 and DAX 40 are finding support as the NASDAQ 100 consolidates below its record high ahead of key monetary policy meetings. The FTSE 100 has stabilized around its 200-day SMA at 8,197, while the NASDAQ 100 may see support between 21,760 and 21,784. A rise above 22,132 could target 23,000 for the NASDAQ.
IG
The global gene therapy market, valued at $7.54 billion in 2022, is projected to reach $41.38 billion by 2031, driven by increased R&D, favorable regulations, and collaborations between pharmaceutical companies and academic institutions. North America leads the market, with significant advancements in biotechnology and numerous clinical trials. Recent developments include Novartis's acquisition of a gene therapy candidate from Avrobio and Bristol-Myers Squibb's expansion of its cell therapy manufacturing network.
European stocks closed slightly higher as investors awaited the U.S. Federal Reserve's interest rate decision. Renault shares surged 5.39% amid merger talks with Nissan and Honda, while U.K. inflation rose to 2.6%, dampening hopes for a rate cut from the Bank of England. The cost of renting in London jumped 11.6%, marking the fastest rise on record.
World stocks are mixed as markets await the Federal Reserve's rate decision. European indices opened higher, while Japan's Nikkei 225 fell 0.7%. Nissan shares surged 23.7% amid collaboration talks with Honda, while U.S. retail sales exceeded expectations, hinting at a resilient economy.
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