Investing.com - Friday's forecast predicts a rise in Australian shares, mirroring the modest gains noted across Europe. As US markets remain closed, the global market focus is redirected.
Dow Jones-associated futures displayed a growth of 32 points or 0.09%. Concurrently, S&P 500 futures increased by 0.05%, and Nasdaq 100 futures rose by 13 points or 0.08%.
Meanwhile, oil prices experienced a minor dip as markets hold their breath in anticipation of the upcoming virtual OPEC+ meeting. The meeting has drawn attention as Angola and Nigeria lobby for elevated production quotas.
Across Europe, bond yields experienced a surge following the release of the most recent PMI data. This data indicated only a minimal improvement in the Eurozone economy, slightly diminishing expectations of a shift towards rate cuts by the European Central Bank, aligning with recent statements from policymakers.
Several corporations, including Adairs, Auswide Bank, Autosports, Core Lithium, NEXTDC, Neometals, PEXA Group, Qualitas, Silver Lake Resources (ASX:SLR), and WiseTech Global, are slated to hold their annual meetings on Friday.
Origin Energy remains under scrutiny as AustralianSuper criticizes Brookfield's efforts to buy more time for its $18.7 billion bid for the company.
Virgin Money (LON:VM)'s shares saw a 6.5% drop in London after announcing a 42% decrease in full-year profit to £345 million. This decrease is largely attributed to a significant £309 provisioning charge against potential but not yet apparent bad debts, predominantly in its credit card division.
In terms of market highlights, ASX futures climbed by 13 points or 0.2% to 7065 as of 9:30 am AEDT. The Australian dollar increased by 0.2% to 65.59 US cents, while Bitcoin remained stable at $US37,333.
Germany's 10-year yield expanded by 6 basis points after the announcement of increased borrowing limits due to a court ruling last week, resulting in at least €37 billion of new off-budget debt.
Political news in Europe also influenced market sentiment. An unexpectedly strong performance by far-right leader Geert Wilders in the Netherlands has raised concerns across the continent.
On a brighter note, the composite PMI in the UK rose above 50 in November for the first time since July, sparking optimism that the country may avoid a recession.
In terms of central banks, Norway held its key rate steady, while Turkey's central bank increased the benchmark one-week repo rate by 500 basis points to 40 per cent, surpassing the expected increase of 250 basis points. Conversely, the Bank of Indonesia maintained its seven-day reverse repo rate at 6 per cent.
Early November checks on manufacturing and services indicated a slight improvement in the euro area composite PMI, which rose to 47.1 from 46.5 in