Dear followers everywhere, welcome to a new global tour of the financial, business, corporate and energy markets around the world and everything new for today, Thursday, November 21, 2024… coming to you from Banker.
Gold prices rise
Starting with the gold markets, which continued its gains as the Russian-Ukrainian war intensified.
Gold prices rose on Thursday for the fourth session in a row, supported by increased demand for safe havens amid the intensification of the Russian-Ukrainian war at a time when investors are awaiting indicators of interest rates in the United States.
Spot gold contracts increased 0.2 percent, recording $2,654.50 per ounce, and US gold futures also rose by the same percentage, recording $2,657.10 per ounce.
The main stock index in Europe fell
The next news in our global tour about the decline in the main stock index in Europe, Thursday, and market sentiment was tepid amidst geopolitical tension enhancing demand for safe havens, while chip company shares were the most influential factor after disappointing expectations from Nvidia, the leader in the sector.
The European STOXX 600 index fell 0.1 percent and is heading to decline for the fifth session in a row amid uncertainty about the escalating conflict between Ukraine and Russia and the potential effects of Donald Trump’s victory at home in America.
China’s concerns
We are still with you on our global tour and to China, which has prepared with new measures to boost trade amid fears of “Trump’s tariffs…
On Thursday, the Chinese Ministry of Commerce announced a series of measures to boost foreign trade and pledged to increase financial support for companies and expand exports of agricultural products.
Exporters in the world’s second-largest economy are preparing for any trade disruptions, in light of US President-elect Donald Trump’s threat to impose customs duties exceeding 60 percent on all Chinese goods, which has caused turmoil within Chinese industrial companies and hastened the transfer of factories to Southeast Asia and other regions.
Stimulus package
From China to Japan, where the Japanese Broadcasting Corporation said on Thursday that the government is considering financial spending worth 21.9 trillion yen ($141.25 billion) as part of a new stimulus package that will be approved later this week.
The authority stated, without revealing sources, that the total size of the package, which includes financing from the private sector, will reach 39 trillion yen, of which 13.9 trillion will come from the government’s general account.
National Bank of Saudi Arabia
The last news in our global tour from the Kingdom of Saudi Arabia, where the Saudi National Bank succeeded in raising 6 billion riyals from issuing additional sukuks.
The bank said in a statement to Tadawul Saudi Arabia, today, Thursday, that the settlement of the sukuk issuance will take place on today, November 21, 2024, and the total number of sukuk reached 6 thousand sukuks, and the nominal value of each sukuk is one million riyals.
