Key Takeaways
- European natural gas prices have plummeted below €30 per megawatt-hour for the first time since May 2024, driven by milder weather forecasts and signals of de-escalation in the Ukraine conflict.
- Goldman Sachs has initiated extensive coverage of the automotive sector, issuing "Buy" ratings for luxury brands Ferrari (RACE), BMW (BMW), and Mercedes-Benz Group Ag (MBG), with target prices of €391 and €112 for Ferrari and BMW respectively.
- Alphabet Inc (GOOGL, GOOG), through its Google Cloud division, has secured a multi-million dollar deal with NATO to provide AI-enabled sovereign cloud capabilities, enhancing the alliance's digital environment.
- Switzerland's Non-Farm Payrolls for the third quarter remained stable at 5.532 million, matching the previous quarter's figures.
- South Korea's Finance Ministry announced forthcoming measures to support pension fund returns and ensure foreign exchange market stability.
European natural gas futures have fallen below the €30/MWh mark, reaching their lowest point since May 2024. This significant drop is attributed to milder weather forecasts reducing heating demand and momentum towards peace talks between Ukraine, the US, and Russia, which could potentially ease energy sanctions on Russia. The Dutch December TTF futures, a European benchmark, traded 3.1% lower at €30.20 per megawatt-hour.
In the automotive sector, Goldman Sachs has launched new coverage on several prominent manufacturers. The investment bank initiated Ferrari (RACE) with a "Buy" rating and a target price of €391. Similarly, BMW (BMW) received a "Buy" rating with a target price of €112, and Mercedes-Benz Group Ag (MBG) also commenced with a "Buy" rating. Stellantis Nv (STLA) and Renault (RNO) were both initiated with a "Neutral" rating, carrying target prices of $10 and €36 respectively.
Alphabet Inc (GOOGL, GOOG) has deepened its involvement in public sector technology, with Google Cloud signing a multi-million dollar deal with NATO. This agreement will provide NATO with AI-enabled sovereign cloud capabilities, which are designed to be highly secure and disconnected from the public internet, ensuring sensitive data remains under direct control.
On the economic front, Switzerland's Non-Farm Payrolls for the third quarter of 2025 showed stability, holding at 5.532 million, consistent with the previous quarter's figures. Meanwhile, South Korea's Finance Ministry announced its intention to implement measures aimed at improving pension fund returns and bolstering FX market stability. This comes as EU's Costa is set to host an informal meeting of EU leaders in Luanda to discuss Ukraine at 10:30 CET.
Additionally, Norway's Credit Indicator Growth (Y/Y) for October registered 3.9%, a slight increase from the previously reported 3.8%.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.