Meta Platforms Inc. and its users have agreed to settle a class action suit for $725 million, the largest settlement ever of a privacy class action in the U.S, according to counsel for the class-action plaintiffs. "Today, plaintiffs filed a motion seeking preliminary approval of the settlement," counsel for plaintiffs Keller Rohrback L.L.P. and Bleichmar Fonti & Auld LLP said in a statement. The litigation was originally prompted by news in March 2018 that the data-mining firm Cambridge Analytica had harvested information from tens of millions of Facebook users. The case since expanded to target broader data-sharing practices by Facebook. Plaintiffs alleged that Facebook granted numerous third parties access to their Facebook content and information without their consent, and that Facebook failed to adequately monitor the third parties' access to, and use of, that information.

The Switzerland stock market ended modestly higher on Friday on selective buying at some frontline counters. The mood remained largely cautious amid a lack of fresh triggers ahead of the holiday weekend. The benchmark SMI ended with a gain of 30.04 points or 0.28% at 10,804.68 after moving in a tight range between 10,761.29 and 10,843.73. Credit Suisse climbed 2.2%. UBS Group, Holcim, Lonza Group, ABB, Partners Group, Geberit and Sika gained 0.8 to 1.2%. Richemont ended nearly 1% down. Nestle edged down marginally, while Roche Holding, Swisscom and Novartis closed with small gains. In Swiss Mid Price Index, Zur Rose rallied 3.2%. AMS, SIG Combibloc, Adecco, Schindler Holding, Schindler Ps, Bachem Holding and Georg Fischer gained 1.4 to 2%.

European stocks ended on a mixed note after a choppy ride on Friday as investors largely stayed cautious and refrained from making significant moves ahead of the holiday weekend. The pan European Stoxx 600 edged up 0.04%. The U.K.'s FTSE 100 crept up 0.05%, Germany's DAX gained 0.19% and France's CAC 40 dropped 0.2%, while Switzerland's SMI gained climbed 0.28%. Among other markets in Europe, Austria, Czech Republic, Denmark, Finland, Norway, Portugal and Sweden closed higher. Greece and Iceland ended weak, while Belgium, Ireland, Netherlands, Poland, Russia, Spain and Turkiye ended flat. In the UK market, which closed early today, Smith (DS), Pershing Square Holdings, Centrica, Prudential, Anglo American Plc, Admiral Group, Spirax-Sarco Engineering, Airtel Africa and Rio Tinto gained 1 to 2%. In Paris, Thales, Hermes International and LVMH lost 1.6 to 2%. STMicroElectronics, Pernod Ricard, Essilor and CapGemini also ended weak. Michelin climbed 2.2%. ArcelorMittal, Eurofins Scientific, Saint Gobain and Societe Generale gained 1 to 1.7%. In the German market, Zalando rallied nearly 2.5%. Fresenius Medical Care, HeidelbergCement, Continental, HelloFresh, Sartorius, Deutsche Wohnen, BASF, Volkswagen and Fresenius gained 1 to 2.2%. France's producer price inflation eased further in November, though it remained strong overall amid still higher costs for coke and refined petroleum products, data from the statistical office Insee showed on Friday. Industrial producer price inflation in the home market dropped to 21.5% in November from 24.7% in October. Driven by strong domestic demand, UK car production expanded for the second straight month in November with the easing of supply chain shortages.

Wall Street traders left for Christmas in sedate spirits after a day of modest gains failed to arrest the S&P 500's skid to a third straight week of losses colored by fears of inflation and recession. Indexes started Friday lower after Commerce Department figures showed that prices for services continued to climb faster than hoped last month. But stocks edged into positive territory after the midmorning release of the University of Michigan's consumer survey painted households as optimistic about the economy. In choppy trading, the S&P gained 22.43, or 0.6%, to 3844.82, while the tech-focused Nasdaq Composite rose 21.74, or 0.2%, to 10497.86. The Dow Jones Industrial Average rose 176.44, or 0.5%, to end at 33203.93. Still, a three-week string of losses for the S&P and the Nasdaq have set markets up to end 2022 with a down month. The S&P has given up 5.8% in December, while the Nasdaq has lost 8.5% and the Dow industrials 4%. Tesla shares fell $2.20, or 1.8%, to $123.15, contributing to an 18% loss this week. The electric-car maker has been rocked by Chief Executive Elon Musk's controversial tenure leading Twitter, which investors have worried may distract him from Tesla's challenges. The stock is down by nearly two-thirds this year. CarMax stock rose $2.96, or 5.2%, to $60.16, reversing some of its Thursday losses, which came after the company posted a 24% decline in third-quarter sales year over year. Inflation and rising interest rates have hurt demand at the used-car retailer. CarMax still fell 2.1% this week.

Stock markets in East Asia are mostly up on Tuesday. Observers point to the end of pandemic-related restrictions in China, with which investors link a revival of the economy and an easing of supply chain problems. However, sales are quite thin "between the years". Many traders use the time between Christmas and New Year for a holiday. Stock markets in Hong Kong and Sydney are still closed on Tuesday for a substitute holiday, as Christmas Day fell on a Sunday this year.

The yield on the two-year U.S. Treasury note, sensitive to near-term Fed policy expectations, rose to 4.321%, from 4.263% Thursday, ahead of an early 2 p.m. bond-market close before the holiday. The benchmark 10-year yield climbed to 3.746%, up from 3.669% a day earlier.

Bryan Garnier lowers Heineken to EUR 99 (110) – Buy
DZ Bank raises Aurubis target to EUR 82 (65) – Hold
Alsterresearch raises Metro target to EUR 8.20 (8) – Hold

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