Global Markets Poised for Rebound
As trading resumes following the Christmas holiday, European markets are expected to open on a high note. The FTSE 100 is projected to surge 34 points to 8,136, while the German DAX is set to gain 40 points to 19,888, and the French CAC 40 is expected to add 21 points to open at 7,293.
China’s Economic Data Takes Center Stage
Investors are closely monitoring economic data out of China, where official figures revealed industrial profits contracted for the fourth consecutive month in November. This news comes on the heels of the World Bank’s revised growth forecasts for China in 2024 and 2025, which cautioned that the country’s economy will remain under pressure due to muted business confidence and ongoing uncertainty in the troubled Chinese property sector.
Asian Markets React to Chinese Data and Japanese Inflation
Markets in Asia were mixed overnight, reacting to the latest Chinese data print and recent inflation numbers out of Japan. Official figures showed core inflation in Tokyo reached 3% in November, up from 2.6% in October.
European Retail Sales Data Takes Focus
Later today, Spain and Norway are set to release their November retail sales figures, providing further insight into the region’s economic health.
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