A look at the day ahead in European and global markets from

Ankur Banerjee

A series of manufacturing data will likely dominate markets'

attention on Friday, with the euro rooted near its lowest in

more than 13 months, while bitcoin edged towards $100,000 on

expectations of friendlier regulations in the United States.

India-listed shares of Adani Group firms slid and their

dollar bonds remained under pressure for a second day following

billionaire founder Gautam Adani's indictment for fraud by U.S.

prosecutors.

Monthly PMIs will be released around the world over the

course of the day, helping investors to chart out how the

various economies are doing and where global rates are headed,

as well as how much further the dollar's recent uptrend may have

to run.

Adani's company denied the accusations in Thursday's

indictment, which comes less than two years after U.S.

short-seller Hindenburg Research accused the Adani group of

improper use of tax havens and involvement in stock

manipulation, which the conglomerate also denied.

Where that leaves market sentiment on Indian equities is

anyone's guess. When Hindenburg's report came out in January

2023, India's broader stock markets felt the heat for a few

weeks before rebounding and racing on to a bull run.

The BSE Sensex has been sliding since it touched a

record high in late September, as investors wary of rich

valuations flee the market. The Adani news has caught the

markets at a vulnerable moment.

As for bitcoin, there's little else to say except that the

markets and crypto enthusiasts everywhere are waiting with bated

breath for the world's biggest cryptocurrency to hit $100,000

for the first time, a landmark moment for the sector.

Anything remotely related to crypto has been on a tear since

the U.S. election as investors bet that President-elect Donald

Trump and his administration will bring in friendlier

regulations.

And finally, investors have been taking a closer look at

Nvidia's ( NVDA ) results and are feeling a bit better about

them. Investors' sky-high expectations may not have been met

but, under the hood, everything looks good with demand holding

strong for the firm's AI chips.

That has stocks in Asia surging while futures indicate

European shares are set for a higher open.

Key developments that could influence markets on Friday:

UK retail sales for October

Flash PMI Nov data for France, Germany, euro zone and UK