Brazil’s economy minister and lower house speaker exchanged harsh words on Friday over progress on pension reform, creating another drag on Brazilian financial assets already feeling the heat from global market weakness.
Germany and China on Friday signed agreements to strengthen coordination in banking, finance and capital markets, and pledged to further open market access and deepen their pragmatic cooperation to broaden economic ties.
Investors are entering the Christmas holidays hoping for some respite from a brutal few months in which stock markets have sold off across the world, with little sign of the customary ‘Santa rally’ in December.
J.P. Morgan and Citibank, two top American financial institutions, are unlikely to commit to cutting Iranian access to international markets, which will add fuel to concerns among US officials about efforts by European states and Tehran's regional allies to mitigate the impact of the new US sanctions ahead of a November 4 implementation deadline, a report says.
After some initial sluggishness, Asia-Pacific stocks generally improved as Wednesday’s trading day progressed. But there were no blowout gains occurring, with nearly all rising indexes up no more than 0.5 percent and many seeing advances of 0.2 percent of less.
Global stock markets remained under pressure Friday, headed for one of their worst weekly performances in years, with analysts wondering whether to greet the sell-off as a healthy correction or fear even worse to come.