Economy

Growth in Europe
Germany grows while France shrinks – in terms of GDP

The French economy shrank unexpectedly during the third quarter, while the German economy grew more than anticipated.

"We have not seen any growth for three consecutive quarters," France’s Minister for Industry, Roland Lescure, told the radio station France Info.

France’s GDP fell by 0.1 percent during the third quarter. The German economy grew by 0.2 percent during the same period, according to preliminary figures.

The yield on German ten-year government bonds stands at 3.56 percent, compared to 4.94 percent for France. This means that investors demand a return that is 1.38 percentage points higher to allocate their capital in France, as they perceive such an investment to be riskier than one in Germany. 

The Oil Market
Reports: US companies hesitant to purchase Russian diesel

US companies are shying away from purchasing Russian diesel currently en route to the United States—following Donald Trump’s lifting of sanctions in mid-October—industry sources have told the *Washington Sun*.

According to Greenpeace, six vessels carrying 288,000 tons of Russian diesel are headed toward the US, with arrival expected after next week’s midterm elections. However, the final destination of the diesel remains unclear. Companies reportedly view such a purchase as risky, partly because Democrats in Congress have alleged that Trump is in violation of sanctions legislation. Behind closed doors, representatives of the Trump administration reportedly urged companies to purchase the diesel, but without success. "Moscow and Washington are struggling to find buyers, but we wouldn't be surprised if the cargo eventually ends up in Brazil," writes the analysis firm Rapidan Energy Group. 

Grounding of the *Marco Polo*
Authority demands 16 million following oil spill

The Swedish Civil Contingencies Agency (MSB) is suing the insurance company of the shipping line TT-Line, following an oil spill that occurred when the vessel *Marco Polo* ran aground off the coast of Blekinge three years ago. This is reported by P4 Blekinge.

60,000 liters of heavy fuel oil leaked into the sea during the accident in October 2023. The agency states that the total costs for the cleanup efforts have not yet been covered.

"We are talking about approximately 15.6 million [kronor] that we have not recovered," official Johan Olsson told the radio station.

Currency Market
Forecast: Swedish krona expected to strengthen against the euro and the dollar

The Swedish krona is expected to strengthen against both the euro and the US dollar in the near term and into next year, according to a forecast from Handelsbanken.

The trend has already begun. The euro has weakened due to turbulence in France and concerns regarding the country's public finances. One euro, which cost 11.33 kronor at the end of September, is now trading at 11 kronor. Handelsbanken estimates that the euro will cost 10.70 kronor by next summer. The US dollar is also expected to become cheaper—dropping from its current level of 9.83 kronor to 9.15 kronor by the summer—according to the forecast. 

The Stock Market Today
AI concerns weigh on Wall Street – Intel plunges 29 percent


The tech-heavy Nasdaq index fell 2.9 percent in Friday’s trading, marking its worst month in a year. The broad S&P 500 index dropped 1.8 percent, and the Dow Jones Industrial Average declined 1.1 percent.

This follows a series of quarterly reports from AI giants over the past few days, which have fueled concerns about a potential bubble.

"We are moving away from the 'hopes and dreams' phase of AI investment and into a phase where proof is required," Joe Tigay of Equity Armor Investments told Bloomberg.

Semiconductor company Intel was hit hardest, plunging 28.6 percent—the company’s worst day on the stock market since 1974—while social media company Reddit fell 29.2 percent, marking its worst day ever.

Sandisk and Amazon, SanDisk and Amazon, which released their earnings after the market closed on Thursday, fell 13.5 percent and 1.4 percent, respectively. Nvidia dropped 4.2 percent, and AMD fell 10.9 percent.