In the US, inflation data was released for October, the first major data point since Donald Trump’s election victory. For the week, the S&P 500 and NASDAQ both closed lower, down -2.22% and -3.51% respectively. In Europe, German Prime Minister Olaf Schultz announced last week that Germany will hold snap elections in February next year, under a deal agreed between his Social Democrat Party and the Christian Democratic opposition. In the UK, GDP data was released last week for the third quarter of 2024. For the week, European and UK indices closed lower, down between -0.81% and -1.48%. In Ireland, BlackRock, one of the world’s largest asset managers last week lowered its stake in Bank of Ireland to below 8%. In Asia Pacific, Chinese retail sales and industrial production data was released last week.
