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Public Markets

Last updated: July 31, 2026, 5:30 AM ET

AI Rebound Fuels Global Equities, Tech Stocks Rally

U.S. stock futures climbed higher as artificial intelligence optimism continued, a rally that also propelled South Korea's Kospi to its biggest daily rise on record and boosted European tech stocks. The Kospi surged 18%, rebounding from a significant sell-off as optimism returned that leveraged trades were nearing an end and AI investments would drive corporate profits. Ken Griffin’s Citadel in global AI stocks after a deal with embattled hedge fund Situational Awareness, which itself fell 67% in July. Asian stocks overall in nearly four months, driven by chipmakers and strong tech earnings that reinforced AI demand. Japanese stocks also rose 2.7%, led by electronics and bank sectors, tracking overnight gains in U.S. technology shares.

Corporate Earnings and Dealmaking in Focus

Nat West reported 29% in pretax profit and raised its guidance, also accelerating share-buyback plans following its acquisition of wealth manager Evelyn Partners. The lender’s second-quarter earnings of £2.3bn surpassed analysts’. In retail, J Sainsbury Plc agreed to sell its Argos general merchandise unit for at least £120 million to Swift Partners, a move to focus on its core food business. Canadian convenience retailer Alimentation Couche-Tard plans to acquire Poland’s Zabka for about $8.7 billion. BP is marketing its U.K. North Sea business for potential sale, marking a step to end oil production in its home country after six decades.

Shifting Strategies and Sector Outlooks

British Airways' owner, IAG despite benefiting from rerouted Middle East travelers, citing soaring fuel prices and the ongoing conflict. Puma reported 9.4% in currency-adjusted sales due to weak demand but reiterated its full-year guidance as part of a turnaround strategy. Siemens Healthineers, now expecting fiscal-year revenue growth of 3.5% to 4.0% on a comparable basis, down from a previous forecast of 4.5% to 5%. In the financial sector, HSBC is selling its $25 billion Australian loan book to Blackstone as part of a global overhaul.

Energy Markets Brace for Supply Disruptions and Geopolitical Tensions

Oil futures amid ongoing supply disruption concerns, particularly following attacks in the Black Sea. Saudi oil tankers are sailing away from the Bab el-Mandeb chokepoint and taking an unusual route around Africa due to threats from Houthi rebels in the Red Sea. Saudi Arabia has also announced a maritime defense coalition with fourteen countries to protect shipping and energy supplies. Meanwhile, U.S. natural gas futures gained support from storage data.

Global Economic Indicators and Currency Movements

Kenya's annual inflation rate climbed slightly to 6.5% in July, fueled by energy costs. Singapore's retrenchments since the pandemic in the last quarter, impacting overseas-facing industries. The yen weakened further after the Bank of Japan maintained its interest rate, though there were reports of potential intervention, with the dollar dropping.3% against the yen . Japan's authorities declined to confirm any intervention but hinted at overseas support. The PBOC signaled a preference for slower gains in the yuan, setting the daily fixing much weaker than expected.

Private Markets and Insurance Sector Entanglement

Private equity has significantly reshaped the life insurance industry, with insurers becoming a major driver of the private credit boom through deals with private equity shops or outright acquisitions. U.S. regulators have cited "circular" risk in investments used by KKR and Apollo, signaling growing concern that assets filling insurance balance sheets could harbor unseen risks . Fitch Ratings reported that the default rate across 1,300 U.S. private debt borrowers rose to a record high in the second quarter.

Tech Sector Developments and Investment Trends

Amazon's Zoox received clearance to begin paid robotaxi rides, a first for a purpose-built autonomous vehicle. Microsoft made market history, adding nearly half a trillion dollars to its market value in a single day, while Meta shares plunged . Big Tech companies like Google, Amazon, Microsoft, and Meta have vastly increased their AI spending since 2023, with Amazon alone planning to spend $220 billion on AI infrastructure this year . Despite AI optimism, some investors are wary of potential volatility, suggesting cross-asset holdings may be too tilted towards innovation and insufficiently protected against inflation .

Financial Institutions and Regulatory Actions

The FCA is launching a new initiative to revive London share trading, planning a single stream of stock data and publishing market depth figures. Societe Generale SA is of project finance deals through significant risk transfers, capitalizing on investor demand. In Japan, the Tokyo District Court ruled that a 2023 tender offer by hospitality firm Shidax Corp. undervalued its shares in a rare case of financial tussle.

Geopolitical Tensions and Their Market Impact

The war with Iran is widening, with U.S. hospitals seeing a surge in uninsured patients. pressures eased during a brief reprieve in the conflict, but the resumption of fighting suggests inflation risks remain prevalent . Oil prices rose at the end of a volatile week, on track for their biggest monthly gain since March as the U.S.-Iran war escalated. Airlines Group Africa’s largest carrier, expects its revenue growth to be cut in half this year due to soaring oil prices triggered by the Iran war .

Other Notable Market Movements and Economic News

Gold slipped Asian, trading within its recent consolidation range. U.S. Treasury yields declined amid signs of efforts for peace in the Middle East, with reports of Hamas agreeing to a disarmament plan. The Philippines plans to change how it prices local-currency bonds ahead of its inclusion in a J.P. Morgan index. Bolivia’s central bank will step into the foreign exchange market to stabilize its currency after it sank 22% in the past month.

Private Equity

Last updated: July 31, 2026, 5:30 AM ET

Dealmaking Activity Surges Across Sectors

Platinum Equity is acquiring half of Nestlé's waters and premium beverages business for $3.4bn, forming a new entity named Peranel with an enterprise value of €4.9bn ($5.6bn). KKR and Energy Capital Partners are set to take over DCC in a £5.75bn ($7.78bn) cash deal, a transaction that has received board backing despite shareholder opposition. Bain Capital has agreed to acquire UK vitamins leader Vitabiotics for approximately £900m ($1.2bn) as part of an international growth strategy. Providence Equity Partners is taking full ownership of THE·TEAM, formerly known as Wasserman, by buying out founder Casey Wasserman. In the travel sector, Blackstone and Colony IM have agreed to purchase Accor's 30.7% stake in hotel owner Essendi for up to €975m ($1.12bn). HIG Capital industrial services firm JT Thorpe to Truelink Capital, having originally acquired the business in 2022. TSG Consumer body care brand Saltair, which was previously backed by Prelude Growth Partners.

Fundraising and Investor Strategies in Focus

Blue Owl $10.6bn for its latest GP stakes fund, which is expected to close this year after timeline extensions. Brookfield has held a $2bn first close on its Brookfield Middle East Partners fund, anchored by Saudi Arabia's Public Investment Fund. CVC is preparing to launch what could be its largest fund to date, while also planning its first infrastructure secondaries vehicle with $9.3bn raised so far for its sixth fund. Savano has closed an oversubscribed direct secondaries fund, which has already made 12 investments. Evercore is expanding its APAC private capital advisory unit, more than doubling headcount to capitalize on regional secondaries growth.

AI and Cleantech Drive Investment

Antora, battery a $550m Series C round, one of the largest cleantech rounds this year, to fund large-scale project deployment amidst rising energy demand from AI data centers. The European Union has opened applications for a €10bn AI gigafactory scheme. Inforcer has raised $50m in a Series C round led by Insight Partners to help smaller businesses navigate AI and security risks. Blossom Capital investments in the defense sector.

Secondary Market Dynamics and Valuations

CVC aiming a third-quarter close for its sixth secondaries fund. The discussion around quick-flip continuation vehicles suggests that. Hamilton Lane a single-asset continuation vehicle for wealth management asset firm Savant Capital Holdings.

Sector-Specific Transactions and Growth Plays

Sector Investment

Last updated: July 31, 2026, 5:30 AM ET

Healthcare Sector Activity

Peak Rock Capital acquired Asembia through an affiliate, marking a new investment in the healthcare and life sciences private equity space.