Public Markets 3d Briefing
×Market Turmoil and Energy Crisis
European stocks investing.com extended their decline as Middle East tensions continued to sap investor confidence. The S&P 500 bloomberg.com faced a "painful" path before a potential rebound, with Goldman Sachs warning of fragile sentiment and choppy flows. Treasury yields bloomberg.com climbed to a three-week high as inflation fears grew, driven by rising crude oil prices due to the Iran war.
European natural gas prices wsj.com resumed their rally amid supply concerns, while Asian equities bloomberg.com rebounded as markets regained composure following a surge in volatility sparked by the Middle East conflict. The Taiwan dollar bloomberg.com extended losses to its weakest since May, weighed down by heavy foreign outflows spurred by the war in the Middle East.
Corporate Earnings and Market Moves
DHL shares investing.com fell as the 2026 profit outlook only met expectations, while Elia investing.com reported FY25 profit that beat estimates, with a strong 2026 outlook lifting shares. Endeavour Mining wsj.com saw earnings boosted by higher gold prices, with total shareholder returns expected to more than double the company's minimum commitment at prevailing gold prices.
Elekta investing.com reported that Q3 net profit slumped as FX and restructuring charges hit earnings. WH Smith investing.com reported slower LFL growth in H1 amid UK softness, causing shares to slip. Taylor Wimpey investing.com met profit guidance while shifting its payout structure.
Defense and Technology Sector
South Korea's President Lee Jae Myung bloomberg.com highlighted the nation's 100 trillion won ($68.2 market stabilization program as Seoul grappled with historic volatility tied to the escalating conflict. Korea's LIG Nex1 bloomberg.com shares jumped on reports that Gulf nations may expand orders for its missile interceptors to fend off Iranian strikes.
Ukraine battlefield tech firm UFORCE bloomberg.com neared a $1 billion valuation as Western and Gulf militaries scrambled for advanced defense technologies. China's tech sector ft.com faced export control challenges as Nvidia refocused TSMC capacity away from H200s intended for the Chinese market toward latest Vera Rubin products.
Regional Market Developments
South Korea ft.com led a rebound from market rout after the Iran attack, with President Lee ordering activation of the $68 billion market stabilization fund. China bloomberg.com set its lowest growth target since 1991 amid ongoing economic challenges. India's powerful state leader bloomberg.com was set to resign, potentially boosting Modi's grip on power.
Emerging-market currency volatility bloomberg.com surged above that of developed-market peers for the first time since May, breaking the longest stretch on record. The dollar investing.com hit its highest level since January, reaffirming its key safe-haven status as investors sought stability amid global uncertainty.
Energy Market Disruption
Gulf oil producers ft.com faced a race to resume exports before storage filled up, with analysts estimating Saudi Arabia had roughly two weeks before it would need to start cutting crude output. Iran yahoo.com launched new attacks, saying the US would "bitterly regret" sinking its warship and calling for Trump's blood.
Qatar Airways bloomberg.com started limited relief flights to help passengers stranded in the Middle East get out as commercial services remained suspended due to closed airspace. Iraq bloomberg.com halted crude oil shipments via the key pipeline to the Turkish port of Ceyhan, further disrupting global energy flows.
Financial Sector and Investment
Goldman Sachs private credit chief bloomberg.com said gating is a feature, not a bug, as the $1.8 trillion market comes under increasing pressure from investors looking to withdraw funds. KKR's Nuttall bloomberg.com saw consolidation emerging in alternative assets, expecting a K-shaped industry to develop for alternative asset managers.
Municipal bonds bloomberg.com offered investors shelter as the Iran war escalated, with most safe-haven assets higher as investors braced for worst-case scenarios. Analysts ft.com noted that rate markets were buying the "weeks not months" narrative on the Iran war, despite inflation risks.
Real Estate and Construction
Vistry Group bloomberg.com shares tumbled the most in 17 months after the UK homebuilder warned of sluggish profit growth this year and announced CEO Greg Fitzgerald's retirement. PageGroup investing.com cut its dividend as the recruitment market remained tough, reflecting broader economic uncertainty.
South East Water bloomberg.com was handed a £22 million fine for repeated outages that affected nearly 300,000 customers between 2020 and 2023. UK energy suppliers ft.com pulled fixed-tariff deals as the Iran crisis drove up prices, with household providers withdrawing or raising tariffs after a surge in wholesale costs.
Automotive and Manufacturing
Honda bloomberg.com planned to boost its Japan lineup by importing cars from the US and China as the Japanese carmaker looked to beef up its domestic lineup amid mounting losses from its auto business. Volvo Car wsj.com increased production of its new electric SUV to meet strong demand, with orders only open in European markets but already exceeding 3,000 in Sweden alone.
Dassault ft.com warned that the Franco-German jet project was "dead" if Airbus refused to cooperate, with CEO Éric Trappier blaming the German arm of Airbus for blocking progress of the €100 billion FCAS program.
Consumer and Retail
Primark wsj.com got a permanent CEO as owner ABF looked to steady the ship, with Eoin Tonge taking the reins at a time when the retailer faced sluggish sales. Reckitt bloomberg.com kept its outlook on emerging market growth, with revenue growth targets for 2026 remaining on track after demand for cleaning and health products in markets like China and India fueled better-than-expected sales.
Canal+ bloomberg.com decided to end the loss-making Showmax platform developed by South African pay-TV operator Multi Choice Group, which the French firm bought last year. Merck KGa A wsj.com anticipated currency headwinds would continue to weigh on its earnings this year as the life-sciences and chemical company prepared for a leadership change.