The IBEX 35 index was up 0.7% to trade around 8,420 on the first trading day of December, the second straight session of gains, in line with its regional peers. Market sentiment was supported by positive signs around China's Covid policy and the latest comments from Fed Chair Jerome Powell. In his speech, closely followed by all markets, Powell said the Fed could slow the rate of hikes as early as December, and markets are betting the next hike will be either 50 basis points at the central bank meeting in December.

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Madrid Stocks Rise for 2nd Day

The CAC 40 index extended gains for a third session to trade at a 36-week high of 6,754 on the first trading day of December, in line with its European peers. Investors reacted positively to Fed Chair Jerome Powell's hint at a slowdown in rate hikes next month while China's softening tone on strict COVID-19 rules also helped to improve the mood. On the corporate front, Dassault Systemes (4.42%), STMicroelectronics (4.26%) and Eurofins Scientifique (3.01%) were among the top performers. On the other hand, Safran (-1.65%), Thales (-1.39%) and Societe Generale (-1.15%) were among the worst performers.

Stocks in France Hit 36-Week High

The FTSE MIB index was about 0.5% higher around 24,740 on the first trading day of December, the third straight session of advances, in line with its European peers. Market sentiment was boosted by comments from US Federal Reserve Chair Jerome Powell signaling smaller interest rate hikes ahead and China’s softening stance on Covid. Regarding economic data, a fresh PMI survey indicated Italy's factory activity contracted for the fifth straight month in November but slightly less than in October. A separate report showed Italy's unemployment rate edged down to 7.8% in October of 2022, the lowest since April of 2020, from 7.9% in September and under market estimates of 8%. On the corporate front, STMicroelectronics was leading the gains, up over 3%, followed by Diasorin and Telecom Italia, both rising more than 2%.

Italian Stocks Start December on Positive Note

The JSE FTSE All Share index rose more than 1% to a fresh eight-month high of 75,720 on Thursday, the second straight session of gains, joining its global counterparts, after US Federal Reserve chair Jerome Powell said the US central bank could slow down the pace of interest-rate increases as soon as this month. At the same time, hopes of reopening in China continued to support market sentiment. Tech stocks and resource-linked companies were the top gainers. Domestically, however, an independent panel appointed by the speaker of South Africa's parliament on Wednesday found preliminary evidence that Ramaphosa had violated his oath of office, findings that could lead to his eventual impeachment.

South African Stocks at 8-Month Highs

The ruble-based MOEX Russia index was hovering around 2,200 points on  Thursday, trading in a tight range since November, as investors continued to monitor developments over a proposed price cap on Russian crude. At the same time, markets reacted to Federal Reserve comments on interest rates while the Russian currency was squeezed by the end of a favorable tax payment period. Regarding individual share price movement, Kazan Sintez and Polymetal International were among the biggest gainers, up 2.5% and 1.9%, respectively. Conversely, Rusolovo Pao dropped almost 5% to be among the top losers.

MOEX Hovers Around 2,200

Equities in London advanced for a third consecutive session on Thursday, with the benchmark FTSE hovering near a six-month peak of 7,600 points, helped by real estate and technology shares. The export-oriented index tracked gains among global peers as US Federal Reserve Chair Jerome Powell indicated that smaller rate increases could begin in December. Investor sentiment was also bolstered by China's softening stance on Covid, with a top official hinting at a more moderate approach to fighting the virus. At the same time, Beijing announced that it would allow low-risk patients to isolate at home. Halma and Intertek Group were among the biggest gainers on the index, up over 3% each. On the flip side, Pearson fell almost 4% after Exane BNP Paribas downgraded the stock rating to "neutral" from "outperform".

FTSE 100 Hovers Near Six-Month High

Major bourses in Europe kicked off the December month on a strong note, with the DAX gaining almost 1% and the STOXX 600 trading close to levels not seen since May 30th, as investors welcomed Fed Chair comments and China’s softening stance on Covid. Chair Jerome Powell indicated on Wednesday afternoon that smaller rate increases could begin in December, raising the odds of a smaller 50bps increase in the fed funds rate this month and a lower terminal rate. In China, VP Chunlan said the country’s efforts to combat the virus are entering a new phase. Tech and industrial stocks were among the top gainers while energy stocks fell. Also, investors appear to shrug off economic data showing weak retail sales in Germany in October. In November, the STOXX 600 gained a strong 6.8%, its best month since July and the DAX added 8.6%.

European Stocks Kick Off December on a Strong Note

Equities in Hong Kong ended 139.21 points of 0.75% higher to 11-week peaks of 18,736.44 on Thursday, gaining for the third consecutive session, as China softens its stance on COVID, with Beijing announcing that it would allow low-risk patients infected with the virus to isolate at home. Meanwhile, a top official in charge of strict said the fight against the virus in China is entering a new phase amid rising vaccination rates and broader experience in pandemic prevention.  Market participants shrugged off reports that manufacturing sector in Asia contracted or grew at softer paces in November, amid slowing demand and supply chain issues. In the US, stocks rallied Wednesday, as Fed Chair Powell hinted at a slower pace of US rate rises as soon as December in order to balance risks. Retail trade, retail trade, and consumers led the rise, amid strong gains from KE Holding (6.5%), Chow Tai Fook Jewellery (5.8%), Galaxy Ent. (3.4%), Tencent Hlds (2.5%), and Sands China (2.1%).

Hong Kong Stocks Finish at 11-Week Highs

Stocks in Euro Area Hit 35-week High

UK stocks were set to open slightly higher on Thursday, tracking gains among global peers as US Federal Reserve Chair Jerome Powell indicated that smaller rate increases could begin in December, prompting markets to bet on a lower terminal rate. Investor sentiment was also bolstered by China’s softening stance on Covid, with a top official hinting at a more moderate approach in fighting the virus, while Beijing announced that it would allow low-risk patients to isolate at home. Meanwhile, investors look ahead to British manufacturing data to gauge the health of the economy, as well as more earnings reports from UK firms such as AJ Bell, Auction Technology Group and Redde Northgate. FTSE 100 futures rose 0.1% in early trade.

UK Stocks Set to Open Higher

European equity markets were headed for a higher open on Thursday, extending a global stock rally as US Federal Reserve Chair Jerome Powell indicated that smaller rate increases could begin in December, prompting markets to bet on a lower terminal rate. Investor sentiment was also bolstered by China’s softening stance on Covid, with a top official hinting at a more moderate approach in fighting the virus, while Beijing announced that it would allow low-risk patients to isolate at home. Meanwhile, investors look ahead to a raft of euro area economic data, with German retail sales declining more than expected in October.  Data released on Wednesday showed that eurozone inflation fell more than expected in November, sparking hopes that the European Central Bank will begin slowing its rate hikes next month. DAX and Stoxx 600 futures rose about 0.8% in early trade.

European Markets Head for Higher Open

BIST 100 increased to an all-time high of 5046

Stocks in Turkey Hit All-time High

In Tokyo the Nikkei 225 Index rose 285 points or 1.02 percent on Thursday. Leading the gains are Eisai (4.70%), Tokai Carbon (4.58%) and Advantest (4.38%).

The Nikkei 225 Index rose 1.02%

The ANZ 50 surged 102.52 points or 0.89% to end at 11,654.56 on Thursday, its highest finish since September 15th, increasing for the second straight session and mirroring a strong session on Wall Street Wednesday after US Federal Reserve Chair Jerome Powell's speech fueled hopes of smaller interest rate hikes ahead. Meantime, China is softening its tone on the severity of COVID and easing some curbs even as its daily case toll hovers near record highs, after weekend protests across the country. Traders tried to ignore reports that factory output across Asia slumped in November, as China's lockdown disrupts international supply. Gainers were almost across the board, with non-energy minerals, tech, consumer non-durables, and industrials among the top movers. Scales Corp jumped 5.5%, followed by Synlait Milk (3.6%), Fisher & Paykel (3%), Gentrack Group (2.9%), A2 Milk Co (2.1%), and AFT Pharmaceutical (1.9%).

NZX Advances 0.9% at Close

The BSE Sensex rose 251.6 points or 0.4% to a new record high for the fifth consecutive session of 63,372.6 in morning deals on Thursday, tracking a rise in Asian markets, following a sharp rally on Wall Street overnight, after Federal Reserve Chair Jerome Powel signaled a slowdown in tha pace of rate hikes. Market participants also reacted positively as India's factory activity expanded to a three-month high in November. Traders continued to follow news about the latest COVID situation in China amid hopes that China may soften its COVID restrictions. IT stocks, media and metals led the rise, with L&T Technology Services up 5.6%, followed by Mphasis (5.3%), Persistent System (4.5%), Larsen & Tourbo Infotech (3.1%), and Coforge (2.2%).

Sensex Hits New High for 5th Consecutive Session

SENSEX increased to an all-time high of 63359

Stocks in India Hit All-time High

The Shanghai Composite climbed 0.8% to 11-week highs above 3,170 while the Shenzhen Component jumped 1.6% to 11,280 on Thursday, extending a strong rally as investors cheered China’s seemingly softening stance on Covid. A top official in charge of strict Covid lockdowns said the country’s fight against the virus is entering a new phase amid a weakening omicron variant, rising vaccination rate and broader experience in Covid prevention. Mainland stocks also tracked Wall Street higher after US Federal Reserve Chair Jerome Powell  hinted at smaller rate increases as soon as December. High-growth new energy, technology and consumer stocks led the advance, with strong gains from Contemporary Amperex (3.7%), BYD Company (3.6%), East Money Information (4.3%), China National Software (4.7%), Chong Qing Changan (2.6%) and Kweichow Moutai (2.4%).

China Stocks Climb on Reopening Hopes

The Hang Seng climbed 286 points or 1.54% to 2-1/2-month highs of 18,883 in early deals on Thursday, gaining for the third straight day, amid an indication that China may soften its COVID stance, with Vice Premier Sun Chunland saying the country's efforts to fight the virus are entering a new phase as the Omicron variant weakens and more people get vaccinated.

Hang Seng Hovers at 2-1/2-Month Top

The Nikkei 225 Index jumped 1.5% to around 28,390 while the broader Topix Index gained 0.7% to 2,000 on Thursday, snapping a four-day decline and taking cues from a strong lead on Wall Street, as US Federal Reserve Chair Jerome Powell  hinted at smaller rate increases as soon as December. Market pricing also indicated that the Fed funds rate will peak below 5% in May following Powell’s comments, lower than previous expectations for a peak above 5% in June. Technology stocks led the charge, with strong gains from SoftBank Group (4.1%), Tokyo Electron (3.8%), Lasertec (6.4%), Mercari (5%) and Recruit Holdings (3.3%). Nearly all other sectors advanced, including index heavyweights such as Fast Retailing (2.5%), Nippon Yusen (1.6%), Sony Group (2.1%), Shin-Etsu Chemical (1.3%) and Daikin Industries (1.9%).

Japanese Shares Track Wall Street Higher

US stock futures steadied on Thursday after the major averages rallied sharply during Wednesday’s session as Federal Reserve Chair Jerome Powell indicated that smaller rate increases are likely ahead. Futures contracts tied to the three major indexes were all trading near breakeven. In extended trading, Salesforce, Snowflake, Costco and Victoria’s Secret all tumbled on disappointing quarterly updates, while Okta, Five Below, Splunk and PVH all jumped on upbeat quarterly reports. In regular trading on Wednesday, the Dow rallied 2.18%, while the S&P 500 and Nasdaq Composite surged 3.1% and 4.41%, respectively. Those moves came after Powell said the Fed could moderate the pace of rate hikes as soon as December to assess how the economy is responding to tighter financial conditions, prompting markets to bet on a lower terminal rate. Investors now look ahead to more US data, highlighted by a key monthly jobs report on Friday.

US Futures Steady After Powell Rally

The S&P/ASX 200 Index jumped 1% to above 7,350 on Thursday, hitting its highest levels in seven months and taking cues from a strong lead on Wall Street, as US Federal Reserve Chair Jerome Powell signaled a slower pace of tightening ahead. Market pricing also indicated that the Fed funds rate will peak below 5% in May following Powell’s comments, lower than previous expectations for a peak above 5% in June. Technology stocks led the charge, with strong gains from Block Inc (6.2%), Xero (4.5%) and Seek (5%). Mining shares also advanced, including BHP Group (1.9%), Rio Tinto (1.3%), Fortescue Metals (2.5%), Newcrest Mining (3.5%) and South32 (3.4%). Nearly all other sectors rallied, with the exception of energy firms amid a drop in oil giant Woodside Energy.

Australian Shares Hit 7-Month Highs

The stock market in New Zealand increased 61 points or 0.53% to a near 2-1/2-month high of 11,613 around midday on Thursday, extending gains from the prior session, boosted by a rally on Wall Street Wednesday after Federal Reserve Chair Jerome Powell said the US central bank might scale back the pace of its interest rate hikes as soon as December.

New Zealand Shares Hover at Near 2-1/2-Month Peak

Brazil’s Ibovespa index gained 1.4% to 112,486 on Wednesday, the second straight session of gains, tracking a positive mood across international markets. Ongoing optimism around the potential lifting of Covid-19 restrictions in China continued to push up commodity-linked companies such as Petrobras, miner Vale and steel companies. Also, traders welcomed remarks from Fed Chair Jerome Powell signaling a slowdown in the pace of rate increases in the world's largest economy. Domestically, optimism around the PEC of Transition and better-than-expected economic data also boosted market sentiment. Brazil's unemployment rate continued its downward trend in the three months through October, hitting a seven-year low of 8.3%, below market estimates of 8.5%. A separate report showed Brazil's budget deficit narrowed more than expected in October. For November, the Brazilian index lost 3.1%.

Brazilian Stocks Close Higher on Wednesday

The Toronto Stock Exchange's S&P/TSX composite index rose more than 0.5% toward 20,400 on Wednesday, approaching its highest level since June 9th. Technology and healthcare surged by more than 2% and basic materials and industrials rose by over 1%. Financial stocks were under pressure, with the National Bank of Canada down 3.3% and the Royal Bank of Canada falling 0.6%, after both reported a drop in quarterly profit. Meanwhile, oil rallied 3%, extending gains for the third session and gold inched closer to a two-week high on expectations of a smaller rate hike by the Fed in December. Domestically, the Bank of Canada is set to raise interest rates by 25 bps next week.

Toronto Stocks Trade at Over 5-Month High

US stocks rallied on Wednesday, after Fed Chair Jerome Powell hinted smaller rate hike may already come in December. "It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. The time for moderating the pace of rate increases may come as soon as the December meeting," Powell said in a speech at the Brookings Institution. The Dow Jones soared 400 points, reversing a 200-point loss; the S&P 500 gained 2% and the Nasdaq surged by over 3%. Considering November, the Dow and S&P 500 are set to advance more than 4% and 3%, respectively, while the Nasdaq is on track to gain 2.4%. Meanwhile, data showed employment increased by 127,000 from October to November, the least since January 2021, and job openings declined to 10.3 million in October, suggesting demand for labor was cooling amid tight financial conditions.

US Stocks Rally on Powell Remarks

US stocks turned positive in afternoon trading Wednesday after remarks from Fed Chair Jerome Powell hinted at smaller rate hikes already in December. The Dow Jones reversed a 200-point loss to rise by 60 points, the S&P 500 added 0.5% and the Nasdaq was up 1%. Macro data on Wednesday showed employment increased by 127,000 jobs from October to November, the least since January 2021, suggesting demand for labor was cooling amid tight financial conditions. At the same time, a different job report showed that the number of job openings declined to 10.3 million in October.

Dow Reverses 200-Point Loss on Powell Remarks

The JSE FTSE All Share index gained ground and closed 2.3% higher at 74,828 on Wednesday, a level not seen since early April, mainly pushed up by shares of heavyweight Naspers (+6.1%) and its partner Prosus (+3.7%). Resource-linked companies and industrials also rose sharply, with gains of nearly 3% each. Meanwhile, investors weighed signs of the possible reopening in China following the easing of Covid curbs in two cities, while cautiously awaiting a speech from Federal Reserve chair Jerome Powell later in the day.  The JSE index posted a notable 12.2% gain in November, the second consecutive monthly gain.

South African Stocks End at Near 8-Month High, Book Monthly Gain

The IBEX 35 index closed about 0.5% higher at 8,363 on Wednesday, after a flat close the previous day, on optimism around the easing of Covid-19 restrictions in China and amid a better-than-expected CPI report for the eurozone. Meanwhile, traders will be watching for a speech by Federal Reserve Chairman Jerome Powell, and the release of the Fed's Beige Book later in the day for clues about the trajectory of interest rates. On the corporate front, the biggest gains were posted by Fluidra, Acciona Energia, Grifols and Melia Hotels, rising more than 2% each. The IBEX 35 index advanced 5.1% in November, notching its second consecutive monthly gain.

Madrid Stocks End Higher, Book Monthly Gain

The CAC 40 index rose about 1% to close at 6,739 on Wednesday, the highest since March 30th, with investors welcoming the easing of Covid curbs in two Chinese cities and data showing inflation in the Euro Area eased more than expected in November. In France however, inflation held steady at 1985-highs. Meanwhile, traders keenly await a speech from Fed Chair Powell for any signal on the size of next month's rate hike. On the corporate front, China-sensitive luxury stocks led the gains, with LVMH (+5%), Hermes (+3.9%) and Kering (+2.7%) advancing firmly. At the same time, Renault rose 3.1%, after reports that it has readied plans to announce a potential alliance deal with Nissan, along with an R&D deal with Airbus. The CAC 40 index closed the month about 7.5% higher.

French Stocks End at 8-Month High, Book Monthly Gain

The FTSE MIB index closed 0.6% higher at 24,610 on Wednesday, extending the slight uptick from yesterday as investors digested a batch of CPI prints and the effect they may have on monetary policy decisions. Annual inflation in the Eurozone was at 10% in November, below expectations of 10.4% and dropping from the record-high 10.6% in the prior month, raising hopes that inflation in the bloc could have peaked. On the other hand, domestic price growth remained at the 37-year high of 11.8% in the period, supported by soaring energy prices. Energy shares led the gains in the session, with Eni closing in the green following reports that the energy giant it in talks to acquire Neptune Energy for $5-$6 billion. Banks also closed higher, led by a 2% jump for Banca Mediolanum. On the other hand, Telecom Italia tanked 5% after the Italian government said it has no plans to launch a bid to acquire the firm.

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10:23 · Dec 1

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Madrid Stocks Rise for 2nd Day

09:53 · Dec 1

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Stocks in France Hit 36-Week High

09:51 · Dec 1

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Italian Stocks Start December on Positive Note

09:38 · Dec 1

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South African Stocks at 8-Month Highs

09:17 · Dec 1

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MOEX Hovers Around 2,200

08:44 · Dec 1

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FTSE 100 Hovers Near Six-Month High

08:38 · Dec 1

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European Stocks Kick Off December on a Strong Note

08:35 · Dec 1

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Hong Kong Stocks Finish at 11-Week Highs

08:00 · Dec 1

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Stocks in Euro Area Hit 35-week High

07:46 · Dec 1

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UK Stocks Set to Open Higher

07:42 · Dec 1

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European Markets Head for Higher Open

07:10 · Dec 1

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Stocks in Turkey Hit All-time High

06:30 · Dec 1

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The Nikkei 225 Index rose 1.02%

06:12 · Dec 1

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NZX Advances 0.9% at Close

05:32 · Dec 1

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Sensex Hits New High for 5th Consecutive Session

03:53 · Dec 1

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Stocks in India Hit All-time High

03:42 · Dec 1

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China Stocks Climb on Reopening Hopes

03:28 · Dec 1

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Hang Seng Hovers at 2-1/2-Month Top

00:35 · Dec 1

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Japanese Shares Track Wall Street Higher

00:20 · Dec 1

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US Futures Steady After Powell Rally

23:46 · Nov 30

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Australian Shares Hit 7-Month Highs

23:18 · Nov 30

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New Zealand Shares Hover at Near 2-1/2-Month Peak

22:05 · Nov 30

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Brazilian Stocks Close Higher on Wednesday

19:46 · Nov 30

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Toronto Stocks Trade at Over 5-Month High

19:33 · Nov 30

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US Stocks Rally on Powell Remarks

18:34 · Nov 30

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Dow Reverses 200-Point Loss on Powell Remarks