In the US, minutes of the latest Federal Reserve meeting were released last week. For the week, the S&P 500 and NASDAQ fell -1.77% and -2.15% respectively. In Europe, the preliminary results of the German Federal Election indicated that the centre right CDU and CSU have secured victory, with the parties winning approximately 28.5% to 29% of the vote. For the week, the Eurostoxx50 closed -0.37% while the broader STOXX600 closed +0.05% higher. In the UK, the rate of inflation accelerated to 3% for January, a sharp increase from the December rate of 2.5% and the highest rate since March 2023. For the week, the FTSE 100 closed lower, down -0.86%. In Ireland, exports reached unprecedented levels in 2024, primarily driven by a surge in pharmaceutical exports. In Asia Pacific, the Japanese economy grew by 0.7% in the final quarter of 2024, growing by more than double the market expectation of 0.3% and ahead of the Q3 2024 growth rate of 0.4%.
