Markets signal caution, Reeves under fire, Ukraine Peace Talks Continue
Markets eye a cautious start to December with risk-off sentiment still very much in play amid AI valuation fears and continuing weakness in cryptocurrencies. U.K. Chancellor Rachel Reeves faces fresh scrutiny as claims swirl that she misled the public about the state of the country’s finances ahead of the budget last week. Progress continues over Ukraine – U.S. officials met with Ukrainian negotiators over the weekend, while a U.S. delegation heads to Russia to hammer out the details of a peace deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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CME Group outage hits U.S. futures trading
U.S. markets return following the Thanksgiving holiday but a technical glitch at a CME Group data centre impacts futures trading across equities, treasuries and commodities. European markets see out a turbulent month of November having seen large moves within the tech, health and defence sectors. The Nasdaq break a seven-month winning streak due to ongoing concerns around A.I. stock valuations. Russian President, Vladimir Putin comments on Ukrainian-American peace efforts, saying the talks could form the foundation of a future agreement ahead of next week’s talks with Hungarian PM Viktor Orban and the U.S. envoy Steve Witkoff. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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Reeves' Budget raises taxes for millions
UK Chancellor Rachel Reeves raises the tax burden to an all-time high in her autumn budget, calling them ‘her choices’. Markets, however, remain sanguine with gilts falling and sterling pushing higher. German sportswear brand Puma sees shares surge on reports of a takeover bid from Chinese giant Anta Sports. And at the Adopt A.I. Action Summit in Paris, we hear from Airbus CEO Guillaume Faury who says European aerospace and defence companies are enthusiastic about scaling up to lead the way into what could become a new global space race.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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UK braces for tax rises in Reeves budget
UK Chancellor Rachel Reeves is forewarning the country of ‘necessary choices’ to fill a £30bn fiscal hole ahead of her much anticipated high-stakes Budget later today. The Dow enjoys its best session since August, boosted by reports that Alphabet chips are attracting interest from social media giant Meta. Ukrainian President Volodomyr Zelenskyy says he is ready to progress on a revised peace plan for his country and is pushing for in-depth talks with President Trump later this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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U.S. markets rally as A.I. valuation concerns subside
U.S. tech stocks start the new week in the green and the Nasdaq notches its best day in 6 months with Alphabet shares approaching the $4tn market valuation mark. The U.S. and Ukraine put forward a revised peace plan following 2 days of discussions in Geneva but the most contested points remain to be finalised by both presidents. The talks will now reportedly move to Abu Dhabi with a delegation arriving from Moscow. The UK’s fiscal watchdog, the Office for Budget Responsibility, is set to downgrade the country’s growth outlook a day before Chancellor Rachel Reeves’ high-stakes budget.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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