Gulf stocks down sharply after OPEC stands pat

Stock markets in the Persian Gulf region ended trading on Sunday with sharp losses, as the shift in oil rents from producing nations to consumer countries further cristalised; after the price of oil reeled in reaction to OPEC's decision on Thursday to stand pat.

Eurozone unemployment holds steady at 11.5%

Eurozone unemployment held steady at 11. 5% in October, Eurostat announced on Friday.

Ali al-Naimi says OPEC will not cut production

The Organisation of Petroleum Exporting Countries (OPEC) decided on Thursday to maintain its current “official” output target unchanged, at 30m barrels per day, surprising analysts which had expected at least some token action to be decided upon to slow the slide in crude prices.

Iran says OPEC decision is not what it wanted - Bloomberg

OPEC maintains official output target at 30m - Unconfirmed

Draghi says ECB unanimously supports additional measures if necessary

The European Central Bank’s (ECB) governing council stands unanimously in favour of using further “unconventional instruments”, should they be necessary to further address risks of inflation remaining too low for too long, the institution’s president, Mario Draghi, said on Thursday morning.

Candy Crush maker chairman quits

Melvyn Morris, the chairman of Candy Crush-maker King Digital, has stepped down from his role.

German unemployment rate unchanged at 6.6% in November, number jobless declines 14,000

The German unemployment rate in November was unchanged from the previous month's adjusted 6. 6%, compared to a forecast for a 6. 7%.

Front month Bent crude futures decline 1.5% to $76.56 per barrel

Technical analysts at Barclays looking for downside in WTI towards $68.15 per barrel

Orders for US durable goods rose in October, led by defence spending

Orders for durable goods increased by 0. 4% month-on-month in October to reach $243. 8bn, according to the US Department of Commerce.

Initial US jobless claims jump to 313,000 in latest week

Initial weekly jobless claims registered an unexpected jump over the last week.

UK GDP rose an annualised 3% in third quarter, ONS confirms

UK gross domestic product (GDP) rose an annualised 3% in the third quarter, as expected by analysts, the Office for National Statistics confirmed in its second estimate on Wednesday.

Bid speculation continues to build around Rio Tinto

Shares in mining giant Rio Tinto are rising 2% in Sydney trading after another analyst backed the notion that an offer from Glencore may soon be forthcoming.

Hewlett Packard posts revenue drop in almost all segments

Technology giant Hewlett Packard (HP) posted weaker than expected fourth quarter results after the close of the markets on Tuesday.

US probes possible HSBC leak to hedge fund, WSJ says

The US Department of Justice is investigating allegations that an employee of HSBC leaked confidential client information to a so-called 'hedge-fund'.

US consumer confidence unexpectedly drops in November

Analysts were caught off guard on Tuesday after a survey showed that consumer confidence in the US unexpectedly tumbled in November.

US GDP rises more than expected in third quarter

The US economy grew more than expected in the third quarter, the Commerce Department revealed on Tuesday.

Santander's chief executive Marin to be replaced by chief financial officer Alvarez

Banco Santander on Tuesday announced that chief executive Javier Marin will be replaced by its current chief financial officer Antonio Alvarez.

Mortgage approvals continued to slow down in October, BBA says

The slowdown in the mortgage market continued over recent weeks, although the annual rate of growth in unsecured lending clocked in at its fastest since 2008, the latest figures available from the BBA revealed.