Detailed Overview of Economic Events and Corporate Reports for Saturday, 22 November 2025. Key Topics: G20 Summit, Key Macroeconomic Signals, Investor Expectations, and Global Market Impact.
Saturday, 22 November 2025, follows a busy week for financial markets. As exchanges head into the weekend, they digest the flow of macroeconomic statistics from recent days – from Purchasing Managers' Index (PMI) figures for major economies to inflation data and consumer confidence indicators. The highlight of the day is the long-awaited G20 summit in South Africa, which holds the potential to set the tone for global markets ahead of the new week. Against this backdrop, the corporate agenda takes a back seat: no significant company reports are scheduled for the weekend, shifting investor attention to the political and economic macro agenda.
For participants in the global equity markets – from Wall Street to Asian exchanges (indices S&P 500, Euro Stoxx 50, Nikkei 225, as well as the Russian index MosBirzhi) – the primary challenge is to assess the conflicting signals received by the end of the week. On one hand, the services sector in recent PMIs demonstrates resilience, while industry falters; inflationary pressures remain pronounced in several countries, but there are signs of a slowdown in price growth. On the other hand, investor sentiment is affected by increased uncertainty on the geopolitical front (disputes regarding the U.S. participation in G20, etc.). In such an environment, the outcomes of Saturday's events will be closely monitored by investors, shaping the initial trading sentiment for Monday.
Global Agenda: G20 Summit in South Africa
In Johannesburg, a two-day G20 summit of state leaders opens – the first G20 meeting held on African soil. The theme of the forum is stated as "Solidarity, Equality, Sustainability", with leaders of developing countries aiming to focus on reducing global inequality, alleviating the debt burden of the poorest economies, and financing the "green" transition. The South African presidency promotes issues related to assisting developing nations in adapting to climate change and attracting investment in infrastructure. For emerging markets, this is an opportunity to convey the agenda of restructuring external debts and obtaining broader access to financing for growth.
However, the summit is taking place against the backdrop of an unprecedented diplomatic rift. The U.S. administration, led by Donald Trump, is officially boycotting the meeting, disapproving of the agenda and accusing the host party of bias. Washington is sending only its chargé d'affaires to the closing ceremony – effectively leaving an "empty chair" where the U.S. leader would normally be present. The absence of the U.S. at the negotiating table emphasises the sense of fragmentation in global economic governance. Instead of a traditional unified communiqué, the world may see a division into blocs: EU, China, India and others strive to formulate collective solutions on climate and debt, while the U.S. distances itself from these efforts.
Investors are closely tracking the progress of the G20 discussions. On the first day of the summit, notable announcements may emerge – for example, calls for reforming international financial institutions or initiatives on emissions control and energy transition support. Geopolitical issues will also not go unnoticed: forum participants may address the situation in conflict zones and sanctions regimes, which is especially significant for the energy market and certain nations (including Russia). Any signals from the summit – from signs of cooperation between key powers to deepening disagreements – have the potential to influence global markets ahead of the new week.
For the markets, the absence of the U.S. in the dialogue implies heightened uncertainty. The fragmentation of global coordination may affect sentiment in the following ways:
- Potentially higher risk premiums for emerging market assets due to declining trust in multilateral initiatives;
- Shifting investor focus towards local growth drivers and domestic demand in major markets, given the challenges in achieving unified global solutions;
- Increasing interest in companies and sectors that benefit from the restructuring of supply chains and localisation of production amidst geopolitical tensions.
The summit will conclude on Sunday, 23 November, and it is anticipated that the G20 presidency will pass from South Africa to the United States. This moment is already marred by a diplomatic conflict – as President Ramaphosa noted, he would not like to "hand over the baton to an empty chair." Markets on Monday will react to the final communiqué (if one can be agreed upon) or the absence thereof. Focus will centre on agreements to alleviate the debt crisis of developing countries, the climate commitments of major economies, as well as any signs of warming or deterioration in relations between global leaders on the sidelines of the summit.
U.S. Corporate Reports
The American corporate calendar for the weekend is overwhelmingly empty – no financial reporting is scheduled for Saturday. This is unsurprising, as the quarterly results season in the U.S. is nearing its conclusion. The majority of companies from the S&P 500 index reported their third-quarter results earlier in November, and investors do not expect major releases until the following week. The outgoing week was marked by a series of significant reports that set the market tone: for instance, technology giant NVIDIA exceeded profit forecasts due to surging demand for artificial intelligence chips, triggering a jump in Nasdaq and reinforcing faith in the ongoing "AI boom." Major retail chains also shared their results – Walmart and Target demonstrated stable revenue, signalling sustained consumer demand even amidst rising prices and interest rates. After such a news-filled period, the current weekend provides a breather for the market: investors have time to digest the information received before the remaining few companies report in the following week. The focus remains on the validity of assessments concerning the state of the economy: robust corporate profits from a number of firms bolster optimism, yet the absence of new drivers over the weekend means that attention turns to macro events such as the G20 summit and the upcoming sales season.
European Corporate Reports
European equity markets also do not anticipate new corporate publications on Saturday. Major issuers in the region (including companies from the Euro Stoxx 50 index) have already disclosed financial results for the third quarter in the previous weeks of October and November. The reporting season in Europe is nearing its end, and no significant releases are scheduled for the weekend. Following a deluge of data at the beginning of the month, the current period is one of relative calm: investors in Europe are processing previously published reports and macroeconomic statistics. For instance, recent results from industrial conglomerate Siemens and the Eurozone banking sector confirmed a mixed picture in the economy – growth persists in specific niches while consumer sentiments appear cautious. In the absence of new reports during these days, European market players will primarily focus on external factors: news from the G20 summit, global trends, and commodity price dynamics. It is worth noting that in several European countries, November is traditionally a quiet period for corporate news, with companies gearing up for the publication of annual results and forecasts as the year draws to a close.
Asian Corporate Reports
The Asia-Pacific region on Saturday is also sparse in corporate events. In the major Asian economies, the reporting season for July to September is practically over. In China and Japan, most technology and industrial giants reported before mid-November; for example, Chinese online retail leaders released results (JD.com – 13 November, showing double-digit revenue growth; Alibaba is set to announce data next week), while Japanese automakers and electronics firms are concluding their quarterly reports by this time. As such, no significant publications are scheduled in Asia on 22 November. Investors in the region are taking a pause, evaluating overall trends: recent corporate reports in China indicated a recovery in domestic demand, albeit uneven, while Japanese companies reported profit increases amidst a weak yen. The lack of new figures over the weekend redirects the focus of Asian investors to external events – the outcomes of the global G20 summit, as well as signals from the U.S. and Europe that will set the tone for Asian trading on Monday morning. Additionally, markets in the region are observing commodity price dynamics and exchange rates: for instance, the stability of the yuan and yen will largely depend on the rhetoric of global leaders and expectations surrounding the monetary policy of major central banks.
Russian Corporate Reports
The Russian equity market does not foresee any new reports from major public companies on Saturday. The main wave of financial results publication for the first nine months of 2025 has already passed throughout November. Many leading issuers across various sectors have shared key metrics: banks reported their profit and reserve figures (e.g., Sberbank announced a net profit increase of approximately +6% year-on-year according to RAS for the nine months, reflecting relative resilience in the banking sector under sanctions and high rates), oil and gas companies disclosed profit reductions due to lower energy prices and tax exemptions, while metallurgists and chemists demonstrated mixed results, balancing between export constraints and a recovery in domestic demand. Consequently, Saturday brings no new corporate information for the Russian market. Investors on MosBirzhi are taking the opportunity to analyse previously published figures and assess sector prospects. In the absence of fresh reports, attention shifts to external factors – global news from the G20 summit, commodity price dynamics, and the ruble's exchange rate, which reacts keenly to any changes in the geopolitical backdrop. The Russian market enters the new week seeking drivers: local reporting has temporarily receded to the background, and further movement in the MosBirzhi index will be primarily determined by macroeconomic and geopolitical signals.
What Investors Should Pay Attention To
Over the weekend and leading up to the opening of markets on Monday, investors should focus on several key points:
- Outcomes of the G20 Summit: The conclusion of the leaders' meeting in Johannesburg and the final statement (or its absence) will be the primary risk factor. If participants can agree on a number of issues – for example, on measures to support development or alleviate the debt crisis – this could moderately improve sentiment in the markets, especially within the emerging markets segment. However, increased disagreements, the absence of the U.S. at the negotiating table, and possible sharp statements (on trade, sanctions, climate) could heighten volatility: on Monday, investors may see an increase in demand for safe-haven assets (gold, bonds) and pressure on the currencies of emerging markets, including the ruble.
- Kick-off of the holiday sales season: Next weekend, the global economy will enter a period of active consumption – "Black Friday" and "Cyber Monday" sales will commence in the U.S. and Europe. The upcoming week will provide initial assessments of how willing consumers are to spend amidst high inflation and rising borrowing costs. Investors will be keen on any data and forecasts from retail chains: a strong start to the holiday sales could serve as a positive signal, supporting shares of companies in the retail, e-commerce, and related sectors (from electronics manufacturers to logistics providers). Conversely, disappointing consumer activity could lead markets to reassess growth expectations for the fourth quarter, impacting retail stock valuations and potentially escalating caution in stock indices.
- Risk Appetite and Market Sentiments: The overall configuration of news over the weekend will determine investor sentiment at the start of the new week. Attention should be paid to whether conflicting trends persist: a robust demand in the services sector alongside weak industrial performance and the imbalance in major powers' policies. If geopolitical tensions increase post-G20, one could anticipate a spike in demand for protective instruments and safe-haven currencies (such as the yen, Swiss franc), while equities in emerging markets may face pressure. Conversely, any signs of de-escalation and constructive dialogue among leaders, bolstered by decent macro data, could enhance risk appetite. In times of uncertainty, investors should exercise caution with overly risky positions, monitor futures on major indices on Sunday night, and be prepared for heightened volatility at the start of the trading week.
Overall, the information backdrop on Saturday is centred around global events and sentiments. The manner in which the G20 summit unfolds and what signals world leaders emit will largely determine the direction of market movements in the coming days. Investors from the CIS are advised to pay particular attention to external news this weekend: geopolitics and the global economy are taking centre stage, while corporate reports are temporarily on hold. Starting Monday, market focus will begin to shift towards the pre-holiday consumer season and final economic data for the year, but the starting point for this leap is being formed right now – in the quiet of the weekend, behind the negotiations in Johannesburg and in anticipation of the first figures from holiday sales.
