Newsflash

ECB Governing Council member Mollen: France has not yet reached the point where it needs to seek the ECB's assistance in resolving its problems.

UAE bank deposits rose 0.7% month-on-month in August. UAE M3 money supply grew 12.54% year-on-year in August. UAE bank loans grew 18.79% year-on-year in August.

Euro Stoxx 50 futures fell 0.73%, German DAX futures fell 0.62%, and UK FTSE futures fell 0.26%.

The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.2 occurred at 14:05 on October 7 near Zhangpu County, Zhangzhou City, Fujian Province (24.22 degrees north latitude, 117.71 degrees east longitude). The final result is subject to the official rapid report.

Shell (SHEL.N): It expects its combined natural gas production in the third quarter to be 740,000 to 780,000 barrels of oil equivalent per day.

The UK's seasonally adjusted Halifax house price index rose 0% year-on-year in September, compared to a forecast of 0.2% and a previous reading of -0.4%.

IMF Managing Director Kristalina Georgieva said that central banks need to maintain a “cautiously hawkish stance” in their monetary policies, and that the interest rate hikes by the Federal Reserve, the European Central Bank, and the Bank of Japan were “very appropriate.”

The UK's Halifax seasonally adjusted house price index rose 0% month-on-month in September, below the expected 0.1% and the previous reading revised from -0.2% to -0.3%.

IMF Managing Director Kristalina Georgieva: The AI construction boom and energy and food shocks are driving inflation; tariffs, high defense spending, and high public debt could also lead to inflation.

IMF Managing Director Kristalina Georgieva: Global public debt is about to exceed 100% of global GDP, with developed economies performing the worst in terms of high debt burden.

Germany's industrial output, adjusted for working days, grew at an annual rate of 2.3% in August, compared with a previous reading of -1.60%.

IMF Managing Director Kristalina Georgieva: The energy price shock has been contained, but high oil and diesel prices and natural gas shortages will continue.

IMF Managing Director Kristalina Georgieva: The global economy has shown remarkable resilience in the face of shocks.

IMF Managing Director Kristalina Georgieva: The latest forecasts from the International Monetary Fund show a downward revision of growth prospects for Ukraine, the Gulf states, and some energy-importing countries.

IMF Managing Director Kristalina Georgieva: Persistently high energy prices, record levels of public debt, and the risks posed by the AI investment boom threaten the prospects for global economic growth.

German seasonally adjusted industrial production rose 2% month-on-month in August, below the expected 0.5% and the previous reading of -1.10%.

Spot gold fell below $4,130 per ounce, down 0.81% on the day.

ECB Governing Council member Mollan: The ECB does not exist to address national budget problems.

ECB Governing Council member Mollen: Regardless of who wins the (French) presidential election, we will continue to fulfill our responsibilities.

European Central Bank Governing Council member Mollen: France's deficit must be reduced.