KPMG Quarterly Brief – International Valuation Newsletter 2024-Q4

The last quarter of 2024 rounded off a year of remarkable technical breakthroughs as evidenced by Google’s new quantum computer and SpaceX’s success in recapturing its Starship rocket. Together with the continued success rally of artificial intelligence, these developments, may have contributed toward the Dow Jones Industrial Average index soaring to a new all-time high of 43,000 points in October.

In the fourth quarter Donald Trump secured his re-election as the 47th president of the United States. In Germany, Chancellor Olaf Scholz lost the vote of confidence, leading to the dissolution of his coalition. In France, the political landscape was shaken as Emmanuel Macron’s government failed to secure support for its proposed reforms leading to a call for early elections. The Assad regime in Syria was overthrown after 25 years, leaving the nation with a mix of hope and uncertainty for the future.

According to Copernicus, 2024 was the first year during which the average global temperature exceeded the 1.5C threshold set in the Paris Agreement. In other news, Notre Dame’s bells rang out for the first time since the disastrous fire in 2019, Rafael Nadal ended his career after 23 years and 22 Grand-Slams titles, Taylor Swift concluded her record-breaking Eras Tour with USD 2.1 billion in ticket sales and “brat” was named as word of the year.

We are pleased to present another edition of our Quarterly Brief, a publication that offers objective market data, which will keep readers abreast of the latest developments in the relevant financial markets.