03 December – 07 December

03 December

The Mexican peso jumped by the most in nearly five months on Monday after authorities offered to buy back bonds tied to an airport project that could be scrapped.

Europe will look to import 25 per cent more Russian pipeline gas as of 2020, Gazprom has said as it gears up for a record year.

Unilever has agreed to pay €3.3bn for GlaxoSmithKline’s consumer nutrition business, expanding its footprint in India with the popular hot malted beverage Horlicks.

GFG Alliance, the acquisitive industrial conglomerate led by British metals magnate Sanjeev Gupta, is buying a US steel company for $320m as it pursues plans to invest $5bn in North America.

04 December

Shares of US and European automakers raced higher on Monday after the Trump administration signalled China could cut tariffs on US-made vehicles.

As for almost every other metal, the copper price bounced on Monday after the US and China announced a trade truce, up 2 per cent to $6,352 a tonne. As with nickel and zinc, the copper market has been unnerved by fears that trade tensions between Washington and Beijing would further strain a Chinese economy already showing signs of slowing. Copper has closely tracked the renminbi since June.

A handful of small banks stocks have defied the market downturn that has engulfed many of their peers — with help from index funds. The KBW regional bank index is down 12 per cent in the past six months, against a small gain for the larger market, as investors worry about rising deposit costs and a peaking economy.

Stocks in the Asia-Pacific region were broadly lower on Tuesday as the previous session’s rally appeared to run out of momentum in the absence of more concrete details on the US-China trade truce.

05 December

Italy’s prime minister has signalled he would be willing to modify his government’s budget plan in response to criticism from Brussels but only if the expensive welfare policies it contains remain intact.

Acast, a Swedish audio start-up, has raised $35m from a group of Nordic investors in its push to expand into new countries and increase its presence on smart speakers, such as Amazon’s Alexa.

Hyundai Motor’s plan to build a low-wage factory in South Korea has been thrown into doubt after talks with a provincial government broke down on Wednesday over some terms related to pay negotiations.

City stockbroker Numis posted a double-digit drop in profits in 2018, blaming a recent hiring spree and costs related to tough new EU markets regulations that are beginning to weigh on the industry.

06 December

Tariffs, new emission standards, diesel bans and the shift to electric vehicles: the list of headwinds hitting the car industry is long. But Volkswagen is still on track for a record year of deliveries, the company said Thursday. The VW core passenger marque said deliveries of its vehicles in the first 11 months rose 1.2 per cent from the record level of 2017, to 5.7m cars.

The UK’s big gambling companies have agreed to cease television advertising during some live sports broadcasts, in a bid to head off action by regulators at a time when the industry is under increasing scrutiny.

Eddie Lampert, the billionaire chairman of Sears, has put forward plans to buy most of the bankrupt department store chain’s remaining assets, pitching it as a rescue bid to avert an outright liquidation and save 50,000 jobs.

China-focused stocks were the among the worst performers in the region on Thursday after the arrest of Huawei’s chief financial officer in Vancouver reignited concerns about US-China trade tensions.

07 December

Crumbling hopes for a US trade rapprochement with China and worries about sluggish global growth prompted investors on Thursday to slash their bets on Federal Reserve rate rises.

Stronger gun sales and growth in knives, optics and other accessories propelled American Outdoor Brands in its fiscal second quarter, igniting a sharp rally in the company’s shares late Thursday.

Fresenius was on course for its worst share price fall in twenty years on Friday after the German healthcare group issued a profit warning. Shares fell more than 15 per cent in morning trading to €40.16, the lowest level since 2014.

The US exported more petroleum than it imported for the first time in decades last week, marking an astonishing if momentary reversal from its longtime status as the world’s largest oil importer.