China’s economy expanded 4.8% in the third quarter, slightly above forecasts, offering a sign of resilience amid global trade tensions and weak external demand.
In Europe, S&P Global Ratings downgraded France’s sovereign debt one notch to A-, citing budget concerns and rising fiscal pressures. French government bonds slipped on the news, though the euro held steady.
Meanwhile, luxury group Kering agreed to sell its beauty division to L’Oréal for €4 billion, part of a broader restructuring to refocus on its core fashion brands.
Shares in BNP Paribas plunged as much as 9%, prompting a temporary trading halt due to volatility. Still, the Euro Stoxx 50 gained 0.7%, with U.S. futures also slightly higher.
Gold extended its advance, rising 5.7% last week to $4,270 an ounce, as investors continue to seek refuge in hard assets amid persistent concerns over debt and currency debasement.
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