News

The Swiss SVME Purchasing Managers' Index for October was 56.7, below the expected 55.3 and the previous reading of 55.3.

At a regular press conference held by the Iranian Foreign Ministry on Monday, a reporter asked about the recent repeated use of the word "surrender" by US officials, with one US minister even claiming that Iranians would soon be forced to surrender to the US, and inquired about Iran's reaction. In response, Iranian Foreign Ministry spokesman Baghae stated, "Surrender? That word is simply not in our dictionary." Baghae further explained that Iranians have proven that they only submit and humble themselves before the will and power of the Creator, a reverence beyond the human realm. "We have only learned to submit and humble ourselves before God," he said.

Spain's October manufacturing PMI came in at 52.2, below the expected 50.8 and the previous reading of 51.

The Hang Seng Index (HSI) closed up 98.9 points, or 0.42%, at 23,393.32 on Monday, November 2nd. The Hang Seng Tech Index rose 84.51 points, or 2.25%, to 3,839.41 on Monday, November 2nd. The Hang Seng China Enterprises Index (HSCEI) rose 43.89 points, or 0.56%, to 7,906.11 on Monday, November 2nd. The Hang Seng Red Chip Index fell 8.19 points, or 0.21%, to 3,911.75 on Monday, November 2nd.

Iranian Foreign Ministry spokesman Bagaei: Tehran does not expect any new changes after the US midterm elections.

The FCHI index opened down 7.79 points, or 0.10%, at 7961.63 on Monday, November 2nd;The Euro Stoxx 50 index opened up 4.74 points, or 0.08%, at 6136.05 on Monday, November 2nd;The Spanish IBEX 35 index opened up 99.10 points, or 0.53%, at 18752.00 on Monday, November 2nd; The UK FTSE 100 index opened down 24.02 points, or 0.22%, at 10698.05 on Monday, November 2nd; the Italian FTSE MIB index opened down 427.86 points, or 0.86%, at 49574.5 on Monday, November 2nd; and the German DAX 30 index opened down 30.46 points, or 0.12%, at 25787.75 on Monday, November 2nd.

According to data compiled by Mobility Sweden, Tesla (TSLA.O) new car registrations in Sweden increased by 248% year-on-year in October.

Iranian Foreign Ministry spokesman Bagaei: The Strait of Hormuz cannot be reopened until the United States lifts sanctions.

Swiss retail sales rose 1.6% year-on-year in September, up from 3.20% in the previous month.

Google parent Alphabet has launched its second euro bond offering this year, split into seven tranches to fund AI investments. Maturities run 2–19 years; initial guidance puts the shortest fixed-rate tranche at about 60bps over mid-swap and the longest around 205–210bps. Barclays, BNP Paribas and Deutsche Bank are bookrunners; the deal is expected to price later on Monday. Demand for recent tech euro issuance has softened, forcing wider spreads and increasing debt funding costs.

According to Iran's Tasnim News Agency, Iranian Foreign Ministry spokesman Baghae stated that Iran's sole criterion for diplomacy is the actual actions of the United States, not the rhetoric of correspondence. He emphasized that differences in writing style are secondary; Iran's primary basis will be solely the actual actions and concrete measures of the US government. He pointed out that the experience of the past two years shows that Washington has not only achieved nothing in the diplomatic arena but has also undermined the diplomatic process. Baghae stated, "The ball is now in the US's court." Iran's demands are completely transparent and reasonable, and no agreement will be reached, nor will the Strait of Hormuz be reopened or restored to security, unless the US lifts its maritime blockade and fully meets Iran's legitimate demands.

According to Iran's Tasnim News Agency, Iranian Foreign Ministry spokesman Baghae stated that the Israeli regime is the root of all insecurity in West Asia and has further exacerbated crimes in Gaza and Lebanon following recent events. Baghae pointed out that with winter approaching, the regime's blocking of even the most basic necessities has plunged displaced people into a catastrophic situation. He also criticized the international community and European countries for their indifference in the face of this crisis. He emphasized that reducing human lives to cold, hard statistics and normalizing crimes is an extremely dangerous phenomenon that seriously threatens human conscience.

Switzerland's actual annual retail sales rate for September will be released in ten minutes.

Shares of China Literature Limited (00772.HK) in Hong Kong surged, rising more than 15% in the afternoon.

Bank of Japan: Bank of Japan Governor Kazuo Ueda plans to deliver a speech and hold a press conference in Nagoya, central Japan, on November 30.

BP (BP.N): Utilizes $6 billion in after-tax proceeds from the Castrol transaction to further reduce financial liabilities; after a two-year lock-up period, the company has the option to sell its 35% stake in Castrol.

Market news: Alphabet (GOOG.O) has launched a seven-tranche euro bond issuance.

According to Norwegian data compiler OFV, Tesla (TSLA.O) saw a 131% year-on-year increase in new car registrations in Norway in October.

At midday close, domestic futures contracts showed mixed results. Container shipping to Europe fell over 4%, Shanghai silver fell nearly 4%, fuel oil, low-sulfur fuel oil (LU), and coking coal fell over 3%, Shanghai gold and coking coal fell nearly 3%, and polysilicon and platinum fell over 2%. On the upside, eggs rose nearly 4%, red dates and methanol rose nearly 3%, styrene (EB) rose nearly 2%, and glass, alumina, apples, and japonica rice rose over 1%.

Germany's real retail sales fell 2.3% year-on-year in September, compared with a previous reading of -0.4%.