Analytical Review of Key Economic Events and Corporate Reports for Friday, December 12, 2025. Major Macroeconomic Publications, Reports from Major U.S., European, and Asian Companies, and Market Impacts for CIS Investors.
Friday concludes a busy week for the markets amid the decisions from the Fed and ECB. In Asia, there are no significant new publications, as investors assess global signals following the central banks' announcements. In Europe, the UK's economic indicators are in focus – fresh data on GDP and industrial production. In the U.S., the key reference for the day will be the Michigan Consumer Sentiment Index, which assesses household sentiments as the holiday season approaches. On the corporate side, there are several reports from major public companies, including a trading update from U.S. broker Charles Schwab, financial results from Swedish IT company Sectra, and Japanese retailer Kobe Bussan. Investors must evaluate all data and reports in conjunction: Fed/ECB policy ↔ bond yields ↔ exchange rates ↔ commodity prices ↔ risk appetite.
Macroeconomic Calendar (MSK)
- 10:00 AM — United Kingdom: Monthly GDP growth rate for October.
- 10:00 AM — United Kingdom: Industrial production data for October.
- 6:00 PM — United States: Michigan Consumer Sentiment Index (preliminary, December).
Europe: UK GDP and Industry
- The UK: Today's Monthly GDP and industrial production estimates will reveal the state of the economy as the year ends. Stagnation or a decline in activity will heighten expectations for a dovish Bank of England policy and pressure the pound, while an unexpected increase could bolster investor confidence. The UK data will set the tone for European markets, especially sensitive to consumer and export outlooks.
U.S.: Consumer Sentiment in Focus
- The United States: The preliminary December consumer sentiment index from the University of Michigan serves as a vital barometer for domestic demand. Improved sentiment signals households' readiness to spend during the holiday period, which bodes well for retail and the economy. However, a weak index may raise concerns about economic slowdown and inflation expectations, impacting the Fed's decisions and dollar dynamics. The market is closely monitoring this leading indicator to assess the consumer sector's outlook.
Corporate Earnings: Before Market Open (BMO, U.S., Europe, Asia)
- Charles Schwab (SCHW) — One of the largest U.S. brokers will present its monthly operational statistics for November. Investors will focus on client trading activity, inflows/outflows on brokerage accounts, and interest income on client balances. Strong metrics will indicate high retail investor engagement and stable commission revenues, while weak data could prompt a reassessment of the entire brokerage sector.
- Sectra AB (SECT B) — The Swedish IT solutions provider for healthcare will report for the second quarter of the 2026 financial year. The market will evaluate revenue growth from healthcare software and cybersecurity, as well as business profitability. Sectra's results will signal demand for medical IT services in Europe; positive dynamics will support sentiment in the region's technology sector.
- Kobe Bussan (3038.T) — The Japanese retailer and operator of the discount store chain Gyomu Super will publish its financial results for the fourth quarter of 2025. Investors expect data on domestic consumer demand in Japan: a rise in sales would indicate resilience in household spending despite inflation, while the business margin will show if the company managed to offset rising costs. Kobe Bussan's report could influence the retail sector on the Tokyo market.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: Among the index components, there are no significant earnings publications on December 12. Macro factors will play a leading role for European stocks—particularly the reaction to new data from the UK and overall interpretations of ECB decisions. The dynamics of the euro's exchange rate and bond yields after the ECB meeting will continue to shape sectoral sentiment on European exchanges.
- Nikkei 225: The Japanese market is primarily focused on external signals, as no notable local releases are expected today. Following the stable performance of the Bank of Japan, investor attention shifts to the external background—the outcomes of the U.S. Fed meeting and sentiments in the technology sector. Fluctuations in the yen's exchange rate against the dollar remain a crucial driver for export-oriented companies within the Nikkei 225.
- MOEX: In the Russian stock market, there are no major corporate earnings announcements on December 12, so external conditions and commodity prices are shaping investor sentiment. Fluctuations in oil prices following recent OPEC+ data and the dynamics of the ruble will impact shares of energy companies and exporters. The general risk appetite in global markets is under focus: a positive external backdrop could support the MOEX index, while heightened geopolitical risks or capital outflows may exert pressure.
Day's Summary: What to Watch for Investors
- 1) Post-effect of central bank decisions: Markets assess the outcomes of the Fed and ECB meetings, reflecting in movements of government bond yields and currency exchange rates. It is crucial for investors to observe how these changes impact sentiment in equities—especially in the financial and technology sectors of the S&P 500 index.
- 2) Macroeconomic data from the UK and the U.S.: Today's GDP/industrial production figures in Britain and the consumer sentiment index in the U.S. serve as indicators of economic health. Unexpected deviations can lead to volatility: strong data will support risk assets, while weak figures will heighten caution in the markets.
- 3) Charles Schwab report: Metrics from the major broker regarding client activity and assets will signal private investor sentiment. Improved indicators may reinforce confidence in ongoing investment inflows into equity markets, while signs of slowing activity may prompt portfolio reassessments and risk rebalancing.
