European Union governments signed off on Friday on an agreement to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.
* FTSE 100 down 0.6%; FTMC up 0.1% * Weak British GDP data fuels rate-cut bets. London's FTSE 100 fell on Friday, as a sell-off on Wall Street fuelled by AI angst spoiled the mood across European markets. The blue-chip FTSE 100 dipped 0.6%, retreating from gains of as much as 0.6%. The mid-cap FTSE 250 index edged up 0.1%, also pulling back from early highs.
Belgium, Bulgaria, Italy and Malta said in a joint statement on Friday they had voted in favour of the European Union's plans to indefinitely freeze Russian central bank assets held in Europe.
Peru's economy could have expanded by around 4% in October, the chief economist of the Andean country's central bank Adrian Armas said on Friday, noting that the economy is "performing well." Armas highlighted the importance of tight fiscal policies in a call with journalists, which came after the central bank held its benchmark interest rate at 4.25% for the third straight meeting.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the life/health insurance subsidiaries of Manulife Financial Corporation (MFC) [NYSE: MFC]. Concurrently, AM Best has affirmed the Long-Term ICR of ?a-? and the Long-Term Issue Credit Ratings of MFC.
European stock markets closed lower in Friday trading as the Stoxx Europe declined 0.53%, Germany's DAX dropped 0.45%, the FTSE 100 fell 0.56%, France's CAC lost 0.21%, and the Swiss Market Index was down 0.14%. In Germany, monthly inflation declined 0.2% in November, compared with October, according to the Federal Statistical Office, and matched analyst forecasts, according to Bloomberg.
Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
AM Best has downgraded the Financial Strength Rating to B++ from A- and the Long-Term Issuer Credit Rating to ?bbb+? from ?a-? of EMC National Life Company. The ratings reflect EMCNL?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the core Blue Cross Blue Shield-branded insurance subsidiaries of Elevance Health, Inc. (ELV) [NYSE: ELV], as well as most of its non-Blue-branded subsidiaries.
* Silver hit record high at $64.64/oz. * Platinum climbs to 14-year peak. * Non-farm payrolls data due on December 16. By Sarah Qureshi. Silver hit a record high on Friday as gold prices rose more than 1% to hover at a seven-week peak, spurred by a softer dollar and this week's Federal Reserve interest rate cut.
The U.S. dollar
drifted higher against major currencies on Friday after falling
in recent sessions, but was still set for its third straight
weekly drop amid the prospect of interest rate cuts by ...
Canada's benchmark stock index hit a fresh intraday peak on Friday, with cannabis and mining shares leading gains, ending a week filled with central bank meetings. The TSX index was up 0.2% at 31,731.35 points by 09:38 a.m. ET, and set for a weekly gain. "Global stocks are trading at record highs despite ongoing technology valuation doubts," said Bob Savage, head of markets macro strategy at BNY.
* Yields climb after two-day decline. * Fed dissenters express concerns over inflation. * 10-year yield poised for second straight weekly gain. By Chuck Mikolajczak. U.S. 10-year Treasury yields rose on Friday after two straight sessions of declines, as investors assessed commentary from a flurry of Fed speakers and a positive outlook on the economy.
Federal Reserve Bank of Cleveland President Beth Hammack said Friday that given her own take on the economy she would prefer monetary policy to be tighter than it is currently. The Fed's rate cut this week along with past easings this year has interest rate policy "right around a neutral" level, Hammack said at an event in Cincinnati.
AM Best has affirmed the Financial Strength Rating of A+, the Long-Term Issuer Credit Rating of ?aa-? and the Mexico National Scale Rating of ?aaa.MX? of HDI Global Seguros, S.A.. The outlook of these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of Hannover R?ck SE and its main subsidiaries. The ratings reflect Hannover Re?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
The European Commission is open to include guarantees that Belgium wants in the plan to use immobilised Russian central bank assets for a loan to Ukraine, European Economic Commissioner Valdis Dombrovskis said on Friday.
Chicago Fed President Austan Goolsbee said Friday in an exclusive interview with CNBC that he dissented at the Federal Open Market Committee meeting this week in favor of no rate change because he is "uncomfortable" front loading too many rate cuts and urged patience to assure that inflation is back on a path to 2%. Goolsbee said that the unemployment rate has been fairly stable and that there ...
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of HDI Haftpflichtverband der Deutschen Industrie V.a.G. and its rated insurance subsidiaries.
NEW YORK, NY / ACCESS Newswire / December 12, 2025 / The global economy spent decades running on assumptions, and it worked until it didn't. Supply chains expanded faster than verification systems. Today's logistics environment is the result of those accumulated assumptions. And this week, SMX cracked one of the most stubborn examples of that nightmare.
Canadian trade revisions will add to Q3 gross domestic product growth, said Scotiabank. Instead of 2.6% quarter-over-quarter seasonally adjusted annual rate GDP growth in Q3, the country may be crossing 3% the next time Statistics Canada takes a swing at the numbers, noted the bank.
Belgian central securities depository Euroclear, which holds most of the Russian central bank assets frozen in Europe, can offset any seizure of its assets in Russia as a result of lawsuits with the Russian assets it holds in Belgium, a senior EU officials said.
The long-awaited September trade data came in even better than Statistics Canada's preliminary estimates, said Bank of Montreal. Not only did the trade balance improve from a $6.4 billion deficit to a $200 million surplus versus an estimated $1.25 billion shortfall in the Q3 gross domestic product figures, but volumes were also firmer, noted the bank.
Federal Reserve Bank of Philadelphia President Anna Paulson said Friday her main concern right now is the state of the job market, in remarks that also said the current state of monetary policy should help bring down inflation to the Fed's 2% target.
The US dollar rose against its major trading partners early Friday, except for a decline versus the Canadian dollar, ahead of a light schedule that includes only an appearance by Chicago Federal Reserve President Austan Goolsbee at 10:35 am ET and an expected update to the St. Louis Fed's gross domestic product Nowcast estimate for Q3 around midday.
Federal Reserve officials who voted against the U.S. central bank's interest rate cut this week said on Friday they are worried that inflation remains too high to warrant lower borrowing costs, particularly given the lack of recent official data about the pace of price increases.
Pasadena and the Rose Bowl Operating Co. are suing UCLA, saying plans to relocate football games to SoFi stadium could jeopardize $130 million in revenue bonds.
Federal Reserve Bank of Philadelphia President Anna Paulson said Friday her main concern right now is the state of the job market, in remarks that also said the current state of monetary policy should help bring down inflation to the Fed's 2% target.
U.S. investors bought equity funds for the first time in three weeks in the week through December 10 in anticipation of a policy rate cut by the Federal Reserve on Wednesday. They purchased a net $3.3 billion worth of U.S. equity funds during the week, closely reversing a net $3.52 billion outflow the prior week, LSEG Lipper data showed.
U.S. investors bought equity funds for the first time in three weeks in the week through December 10 in anticipation of a policy rate cut by the Federal Reserve on Wednesday. They purchased a net $3.3 billion worth of U.S. equity funds during the week, closely reversing a net $3.52 billion outflow the prior week, LSEG Lipper data showed.
Global equity funds attracted significant inflows in the week to December 10 as investors positioned for a potential Federal Reserve rate cut, despite lingering concerns over stretched tech valuations and heavy AI-related spending.
Global equity funds attracted significant inflows in the week to December 10 as investors positioned for a potential Federal Reserve rate cut, despite lingering concerns over stretched tech valuations and heavy AI-related spending.
* Euro and sterling rise as dollar weakens. * UK GDP data in focus. * Fed's less hawkish stance drags dollar. * Markets diverge from policymakers on rate cuts for next year. By Joice Alves.
* FTSE 100 up 0.3%; FTMC up 0.7% * Gold, silver miners soar on rate-cut hopes. * Weak UK GDP data fuels rate-cut bets. The main UK stock indexes rose on Friday, with a gauge of precious metal miners jumping to a record high following a stunning rally in gold and silver prices this year as traders priced in more U.S. interest rate cuts.
PNC Financial Services (PNC) has received approval from the Federal Reserve for its proposed acquisition of FirstBank Holding, the central bank said Thursday. The deal is subject to the approval of the Office of the Comptroller of the Currency, the Fed said. MT Newswires does not provide investment advice.
Futures for Canada's benchmark stock index edged higher on Friday after the index notched a record closing high in the previous session, in a week filled with highly anticipated central bank meetings. Canada's TSX index ended the prior session at 31,660.73 points, boosted by metal prices and domestic data, while the S&P 500 and Dow also posted record closes.
Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor. Hello Morning Bid readers!?. Federal Reserve Chair Jay Powell buoyed markets by executing that most rare of monetary policy moves:?the dovish 'hawkish cut'.?But the spectre of AI anxiety threatens to hold off a "Santa Claus" rally.
The S&P 500 and the Nasdaq closed down more than 1% on Friday with investors leaving?technology for other sectors as Broadcom (AVGO) and Oracle fueled concerns about an AI bubble and rising U.S. Treasury yields added pressure after some policymakers spoke out against easing monetary policy.
The Bank of England is set to impose a rate cut by 25bps next Thursday and the United Kingdom gross domestic product data released earlier Friday will certainly help reinforce those expectations, said MUFG. Real GDP contracted by 0.1% month over month in October, which followed a similar contraction in September.
* Futures: Dow up 0.17%, S&P 500 slips 0.20%, Nasdaq off 0.56% Futures tracking the S&P 500 and Nasdaq slid on Friday as chipmaker Broadcom's (AVGO) results sparked fresh worries about a potential artificial intelligence bubble, dampening investor optimism from a less hawkish Federal Reserve monetary policy decision earlier in the week.
Even if overall inflation slows next year as the U.S. Federal Reserve anticipates, President Donald Trump will still face political headwinds over the cost of living with home mortgage rates expected to remain comparatively high, tariff-related price increases on goods seen persisting through the first part of the year, and cost pressures building around items like beef and electricity that can...
* Jobs report due Tuesday, CPI out on Thursday. * Report on economy follows dovish Fed meeting. * S&P 500 hits record high, up 17% in 2025. By Lewis Krauskopf. A host of delayed employment, inflation and other data in the coming week will give a long-anticipated view of the U.S. economy that could help guide markets into year-end.
Societe Generale in its early Friday economic news summary pointed out: -- Foreign exchange majors rangebound, 10-year United States Treasuries steady at 4.15% after drop to 4.10% on Thursday on spike in weekly jobless claims. -- The United Kingdom October gross domestic product contracts 0.1% month over month, drops 0.1% three-month/over/three-month, below forecast.
* EU wants to use frozen Russian assets for loan to Ukraine. * Russian central bank says such a move would be illegal. * EU wants to freeze Russian assets indefinitely. * It currently must roll over the freeze every six months. By Jan Strupczewski.
* Silver hit record high at $64.32/oz. * Weekly jobless claims at 4-1/2-year highs. * Dollar hovers near two-month low. By Pablo Sinha. Gold prices rose to a seven-week high on Friday, bolstered by a soft dollar, expectations of interest rate cuts and safe-haven demand prompted by geopolitical turbulence, while silver hit a record high.
* Euro and sterling rise as dollar weakens. * UK GDP data in focus. * Fed's less hawkish stance drags dollar. * Markets diverge from policymakers on rate cuts for next year. By Joice Alves.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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