world markets in brief

World Markets Daily News – In Brief –09/02/2024



-The Australian stock market ended a choppy session marginally higher, extending its winning streak to three days after Reserve Bank of Australia Governor Michele Bullock said there is some way to go to meet the central bank’s inflation target.

-Asian stocks ended mixed in thin trade Friday with Japan’s Nikkei hit fresh 34-year highs on Friday while markets in China, Indonesia, Taiwan and South Korea were closed for public holidays.

-Hundreds of mainland Chinese listed companies have publicly declared they will take part in the government’s call to prop up the stock market and the overall economy, openly pledging to “enhance corporate quality” Nikkei Asia reported.


-Major European markets opened mixed on Friday as German inflation fell in January to 3.1% according to the latest figures released by the Federal Statistical Office.

-European Central Bank (ECB) Governing Council member and Bank of France President Francois Villeroy de Galhau in an interview in LCI said that interest rate cuts may happen this year.

-UK investors warn on market regulations revamp, the Financial Times reported on Friday.


-U.S. stock futures edged lower Friday morning as investors digested another earnings-packed week which saw leading American corporations post their quarterly earnings.

-In 2024, Brazil expects to harvest 303.4 million tons of grains, marking a 3.8% drop from 2023’s peak of 315.4 million tons as per IBGE’s report.

-Cuba’s sugar output plummeted to an all-time low of 400,000 tons in 2023, The Rio Times reported.


-Some market operators told Nairametrics that as long as economic factors such as inflation and high exchange rates remain elevated in Nigeria, share prices are likely to continue their upward trajectory.

-Zimbabwe is considering overhauling its exchange-rate regime as the government seeks new measures to save its beleaguered currency, Bloomberg reported.

-Egyptian pound devaluation unlikely to meet government’s policy objectives: Goldman Sachs


-Turkey’s newly-appointed central bank chief at a press briefing on Feb. 8 ruled out more rate hikes in near term.

-Stock markets in the Gulf ended mixed on Thursday after Israel rejected ceasefire offer from Hamas,

– Dubai’s S&P Global Dubai Purchasing Managers’ Index (PMI) fell to 56.6 in January, from a 16-month high of 57.7 in December, marking the lowest reading since last September.