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Top 5 Things to Know Today

Published 11/11/2015, 11:14
Updated 11/11/2015, 11:24
© Reuters.  Top 5 Things to Know Today In Financial Markets
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Investing.com - Here are the top five things you need to know today in financial markets:

1. Global stocks mixed amid China growth worries

Asian stock markets pulled back on Wednesday after disappointing Chinese data showed growth in the world's second-biggest economy was still in low gear.

The National Bureau of Statistics said industrial production rose by an annualized rate of 5.6% in October, below expectations for a 5.8% increase and slowing from a gain of 5.7% in the preceding month.

In Europe, equity markets traded higher as investors eyed comments by European Central Bank President Mario Draghi, expected later in the day, amid growing expectations for additional easing measures in the euro zone.

Meanwhile, U.S. stock futures were up 0.2%, suggesting a strong opening on Wall Street later in the day. Activity was expected to remain light due to the Veterans Day holiday.

2. Draghi speech eyed

European Central Bank President Mario Draghi is due to speak in London at the Bank of England’s Open Forum at 1:15PM London time, or 8:15AM in New York.

In October, Draghi indicated that the bank could enlarge its monetary stimulus program next month to combat persistently low levels of inflation in the single currency bloc.

3. AB InBev, SABMiller seal MegaBrew deal

Belgian brewing giant Anheuser-Busch Inbev SA (N:BUD) has reached an agreement with SABMiller PLC (L:SAB) over the terms of its takeover, announcing that it will pay £44.00, or $66.70, per share for the London-listed beverage company valuing it at £69.78 billion, or $105.5 billion.

As part of the deal, which is expected to be completed in the second half of 2016, SABMiller will sell a 58% stake in its U.S. joint venture MillerCoors to the venture's other shareholder, Denver-based Molson Coors Brewing Company (N:TAP) for $12 billion.

The sale of MillerCoors is necessary for AB InBev to get approval from U.S. regulators to buy SABMiller.

4. Alibaba reports blockbuster Singles' Day sales

Chinese e-commerce giant Alibaba Group Holdings (N:BABA) said on Wednesday the value of merchandise it has sold so far during the Singles' Day online shopping extravaganza had surpassed last year's total of $9.3 billion. Sales could rise to $13.8 billion this year according to some analysts.

5. Portugal's government crumbles amid austerity backlash

Portugal’s center-right government collapsed less than two weeks after taking power, after left wing opponents rejected its policy proposals in parliament amid anger over widespread austerity measures.

The move could lead to a new government led by the Socialist Party, setting the country on an uncertain economic course.

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