Spot gold smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. Gold has jumped more than 50% this year in the face of uncertainties over global trade, the Federal Reserve’s independence and US fiscal stability.
Security services group Verisure’s shares rallied in its trading debut, after the initial public offering raised about €3.2 billion ($3.72 billion) in the largest European debut in three years.
Outgoing French Prime Minister Sebastien Lecornu expressed optimism that an accord can be reached to allow the formation of a new government without fully endorsing a new proposal to rethink a controversial pension law as demanded by the Socialists. “The good news is that with all the consultations I have had,” Lecornu told reporters Wednesday, “there is a desire to have a budget for France before Dec. 31.”
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta.
Chapters:
00:00:00 – The Opening Trade
00:02:22 – Gold Hits $4000
00:05:40 – Macron France Government Crisis
00:07:55 – Nvidia, xAI Cips, Elon Musk
00:09:21 – Europe’s Biggest IPO Since 2022: Verisure
00:12:23 – Verisure CEO Austin Lally
00:17:23 – Jamie Dimon on AI
00:22:09 – Musk Raises $20B Capital Tied to Nvidia
00:26:06 – French PM Lecornu Resignation
00:28:52 – Gold Returns Higher than Stocks This Century
00:39:31 – Verisure IPO’s in Stockholm
00:42:27 – AI Bubble Worries
00:47:57 – Stocks to Watch: BMW, ABB, UK Lenders
01:05:37 – UBS Shelves Risk Transfer Deal
01:15:06 – France’s Lecornu Speech
01:20:14 – France Prime Minster Speaks in Paris
01:28:16 – France 10-Year Yield
01:32:06 – Jamie Dimon on Government Shutdown
01:34:13 – Fed Minutes Today
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