Economic news moving markets.

China pushes central bank gold purchases to 79 tonnes in August

Goldman Sachs estimates that monetary authorities worldwide added 79 tonnes of gold in August, nearly five times their typical monthly pace, with China responsible for about 25 tonnes of that amount.

Wall Street slides as AI funding fears and SpaceX telecom bet rattle stocks

The Dow Jones Industrial Average shed 747.49 points (1.41%) to close at 52,332.44, as renewed unease over AI spending and news of a potential SpaceX wireless venture pressured technology and telecom shares.

Infosys cuts FY27 revenue outlook as quarterly profit rises 6%

Infosys posted a 6% year-on-year rise in net profit to Rs 7,823 crore for the September quarter, but narrowed its full-year revenue growth forecast to 1-2% in constant currency, down from 1.5-3%, citing weaker demand.

French 10-year yield tops 5%, a 24-year high, as unrest spreads stress to Italy, Belgium

French 10-year government bond yields broke above 5% on Thursday, their highest in 24 years, with the gap over German Bunds widening to nearly 180 basis points as fiscal strain and political deadlock rattled investors.

Eni more than doubles Q3 profit to $3.14 billion, boosts payouts

Italy's Eni reported a 125% jump in adjusted net profit for the third quarter, beating analyst forecasts, as refining margins and oil and gas output both strengthened. The company responded by raising its dividend and buyback plans.

UK private sector growth hits eight-month high as PMI tops 53

Britain's private sector expanded at its quickest pace since February, as the S&P Global Composite PMI reading for October climbed to 53.1, topping both September's 52 and the 51.8 consensus call. The figure carries weight for GBP/USD positioning.

Indian 10-year bond yield extends decade-long weekly slide to 7.47%

India's benchmark 2036 government bond yield rose to 7.4740% on Friday, marking a tenth straight weekly increase and the steepest run-up since 1998 as oil prices and a hawkish central bank weigh on bond prices.

European gas prices hit highest level since December 2022 on Qatar LNG fears

Dutch TTF front-month gas jumped 3% to about 92 euros per MWh ($103.40, over $30/MMBtu) on Friday, the highest since December 2022, as Middle East tensions threaten Qatari LNG supply and EU storage levels fall below seasonal norms.

Brent targets $116-$127 as Societe Generale flags technical breakout

Societe Generale says Brent crude has broken above its recent trading range after holding its 50-day moving average, pointing to a resumed uptrend with technical targets at $116/$119 and $127 a barrel.

Eurozone PMI cools to 51.9 in October, below forecasts

Eurozone business activity expanded at its slowest pace in four months in October, with the flash composite PMI falling to 51.9 from 53.1, missing expectations and complicating the ECB's rate path.

US October PMIs seen easing slightly but staying in growth territory

S&P Global's preliminary US October Manufacturing, Services and Composite PMIs are due Friday at 13:45 GMT, with forecasts pointing to a mild slowdown from September's strong readings. The data land days ahead of the Fed's October 28 meeting and could move EUR/USD and the US Dollar.

Japan’s core consumer prices climb 2.1% in September, topping BoJ goal

Japan's core CPI advanced 2.1% from a year earlier in September, up from August's 1.7% pace and surpassing the Bank of Japan's 2% objective, intensifying speculation about additional borrowing-cost increases.

India clears 6,500-tonne silver import quota, Hindustan Zinc slides 4%

Indian authorities have authorised 6,500 metric tonnes of silver imports for the next six months to meet festive demand, a decision that dragged down local silver prices and sent Hindustan Zinc shares sharply lower on Friday.

India’s Sensex drops over 1,000 points from day’s high on oil spike

India's Sensex fell below 72,800 and the Nifty 50 slipped under 22,500 as Brent crude spiked to $114 a barrel, with broader small- and mid-cap indices losing up to 3%.

CSI300 drops over 20% from June peak, entering bear market by some measures

Chinese mainland shares fell further on Friday as a global tech selloff, Middle East tensions and French debt worries drove investors toward safer assets. The CSI300 dropped 1.1% and is now down more than 20% from its June 22 high.

Tokyo weighs trimming gasoline aid starting in December

Japan's ruling party is discussing a partial pullback of gasoline price support beginning in December, as the monthly expense grows too heavy to maintain, insiders say, a step that would push fuel costs higher into the new year.

UK retail sales drop 0.4% in September, well below forecasts

UK retail sales fell 0.4% month-on-month in September, missing expectations for a 0.1% decline, after a revised 0.7% rise in August, the Office for National Statistics (ONS) reported. GBP/USD edged lower on the data.

Brent crude tops $114 as Saudi, Libyan supply risks escalate

Brent crude climbed to $114.00 a barrel and WTI crude rose to $100.40, as Houthi attacks on Saudi infrastructure and a Libyan pipeline shutdown fuelled a sharp weekly rally in oil prices.

Yen jumps as AI stock worries spark flight to safety

USD/JPY dropped nearly 0.65% on Thursday to around 157, its lowest since September 30, as fears over AI-related investment hit global equities and lifted demand for the Japanese yen.

10-year Treasury yield drops below 5% as AI credit worries spur safety bid

The US 10-year Treasury yield fell about 13.5 basis points, dipping under the 5% mark, as investors sought shelter from renewed stress in AI-linked credit and stock markets.