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Market news: A KAB aerial bomb was launched in the eastern region of Kharkiv, Ukraine.

TD Cowen: Raises target price for Alphabet, Google's parent company, from $335 to $350.

WeRide: Robotaxi service officially launched in Dubai via the Uber (UBER.N) app.

December 12th - A Bank of England survey revealed that when asked about future interest rate trends, 38% of respondents expect rates to rise over the next 12 months, up from 33% in August 2025. 24% expect rates to remain unchanged over the next 12 months, down from 26% in August 2025; and 25% expect rates to fall, down from 29% in August 2025.

A Bank of England survey found that 38% of respondents said interest rates on mortgages, bank loans, and savings had risen in the past 12 months, up from 35% in August 2025. Meanwhile, 26% of respondents believed interest rates had fallen in the past 12 months, down from 35% in August 2025.

A Bank of England survey found that 36% of respondents thought the inflation target was “roughly appropriate,” down from 38% in August 2025. 38% thought the target was “too high” and 10% thought it was “too low.”

A Bank of England survey found that 74% of respondents compared to 4% (69% and 6% respectively in August 2025) believe that if prices begin to rise more rapidly, the economy will eventually become weaker, not stronger.

A Bank of England survey found that when asked about their longer-term inflation expectations (e.g., five years from now), respondents gave a median of 3.7%, down from 3.8% in August 2025.

A Bank of England survey found that when asked about the current inflation rate, respondents gave a median of 4.7%, down from 4.8% in the August 2025 survey.

A Bank of England survey indicates that the median public expectation for inflation over the next year is 3.5%, down from 3.6% in August 2025.

On December 12th, Shouyao Holdings announced that it is planning to issue H shares and list on the Hong Kong Stock Exchange. The company is currently discussing the specific details of the H-share listing with intermediaries, and these details have not yet been finalized. This H-share listing will not result in a change of the company's controlling shareholder or actual controller.

JPMorgan Chase raised its price target for Alphabet, Google's parent company, from $340 to $385.

On December 12th, R&F Properties (02777.HK) issued an announcement on the Hong Kong Stock Exchange, stating that the Group's total sales revenue for November 2025 was approximately RMB 1 billion, with a sales area of approximately 112,500 square meters. Cumulative sales revenue up to the end of November 2025 reached approximately RMB 12.7 billion, with a sales area of approximately 1,261,600 square meters.

December 12th - Investec Chief Economist Philip Shaw stated in a report that the UK economy is likely to contract in the fourth quarter unless there is a significant boost in economic growth by the end of the year. "If economic momentum does not substantially pick up by the end of the year, the UK economy will record its first quarterly contraction in two years," Shaw said.

December 12th - Japan's auto workers' union will seek a slightly higher wage increase than last year in the upcoming round of wage negotiations, and the Bank of Japan is closely monitoring wage trends in this industry impacted by US tariffs. The Japan Auto Workers Union (JAW) released a draft negotiation plan on Friday, to be reached in March next year, proposing a minimum monthly basic wage increase target of 12,000 yen. The previous year, the union did not set 12,000 yen as a minimum target, but rather used it as a target to strive for, ultimately achieving a 9,520 yen increase, equivalent to a 3.58% rise. If JAW achieves its current target, it will exceed this year's actual results, indicating that even with the industry facing pressure from higher US tariffs, workers intend to continue pressuring employers. This further strengthens the Bank of Japan's incentive to raise interest rates. Automakers typically announce their wage plans in February, setting the tone for broader spring wage negotiations.

Data shows that after Ukraine submitted a revised proposal to the United States to end the conflict with Russia, Ukrainian international bonds rose by 0.9 to 1.8 cents, with the purchase price of bonds maturing in 2029 reaching 73 cents, the highest level since February.

December 12th - Market analysts say oil prices rose today, but a significant drop is still possible this week. Diplomatic efforts to end the Russia-Ukraine conflict, coupled with overall bearish fundamentals, suggest a supply glut next year. Next week, market focus is expected to be on the Russia-Ukraine negotiations, while traders also watch the escalating tensions between the US and Venezuela. The International Energy Agency (IEA) stated that market-expected surpluses have narrowed, but a large supply glut still casts a shadow over the outlook. In contrast, OPEC's supply and demand forecasts point to a relatively balanced market next year. ANZ analysts said, "This is a stark reversal of the outlook that predicted a tighter market earlier this year."

On December 12th, KPMG's Chief UK Economist, Yael Selfin, stated in a report that UK GDP contracted by 0.1% month-on-month in the three months of October, and growth is expected to remain weak for the remainder of the fourth quarter. Economic activity in November may be constrained by uncertainty surrounding the government budget. She pointed out that although the budget avoided an early tax increase and borrowing costs are expected to decline over the next year, its impact may persist, and household confidence is unlikely to improve in the short term. The outlook for investment growth is more optimistic and should be a key driver of economic growth in 2026. However, she expects GDP to remain flat in the fourth quarter of 2025.