AGP Executive Report
Last update: 5 hours agoMarkets: Stocks rallied on Wednesday, with the S&P 500 up 1.3% and European shares reaching a record close as CoreWeave’s outlook revived optimism around AI. The rebound came despite rising rate concerns after hotter US inflation; traders put the odds of a December Fed hike at 87%. Currencies: The dollar strengthened against major peers, pushing the euro to its lowest since May 2025 and the yen near 160 per dollar. Banking: UAE bank assets climbed 4% quarter-on-quarter to more than Dhs5.8 trillion in Q3, while credit rose 17.3% year-on-year. In Kenya, Absa added five unit-trust funds to its mobile platform, with investments starting at Sh1,000. Digital Finance: OKXICE plans to launch 24/7 trading in tokenized US securities on November 23, but 56 of 62 companies identified for the service had objected to their shares being included. Financial Inclusion: Equifax UK and ClearScore will add verified rent payments to credit files, potentially helping renters build credit histories and access loans.
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