Public Markets 3d Briefing
×Market Turmoil Intensifies
European shares bloomberg.com headed for their worst weekly decline since April as the war in Iran showed no sign of resolution. The conflict drove a global risk-off surge, with emerging-market assets bloomberg.com set for their biggest weekly drop since the 2020 pandemic. Overseas investors pulled from Asian stocks at the fastest pace in nearly four years, while Thai stocks bloomberg.com plunged the most in six years. Canadian equities also sank sharply, with gold selling off bloomberg.com alongside other traditional havens. The dollar’s strength bloomberg.com was a notable outlier, offsetting some war-related premium in other markets.
Deals & IPOs
Investcorp bloomberg.com closed a fund exceeding $1.1 billion for minority stakes in private investment firms, a major Gulf fundraising. KKR bloomberg.com is seeking a $500 million loan to back its acquisition of a majority stake in school operator XCL Education. SpaceX bloomberg.com added Citigroup to its IPO bank lineup as the rocket company moves toward a public offering. Separately, Intercontinental Exchange bloomberg.com acquired a stake in crypto exchange OKX at a $25 billion valuation. In the UK, IMI investing.com launched a larger-than-expected £500 million buyback after beating 2025 forecasts.
Energy Shock & Supply Disruptions
Oil prices wsj.com edged higher before the jobs report, though they later retreated from spikes earlier in the week. The Strait of Hormuz bloomberg.com saw near-total shipping halts, with no oil shipments in the past 24 hours. Qatar is offering to lease LNG tankers bloomberg.com as its main export plant remains shut. The IMF bloomberg.com warned a 10% sustained oil rise would add 40 basis points to global inflation. Indian refiners are snapping up Russian oil following a US waiver bloomberg.com, while Turkey spent $12 billion defending its lira. A US submarine strike pushed the conflict to India’s doorstep bloomberg.com, threatening gas supplies and power generation for cooling.
Regional Ripples & Policy Responses
Philippine inflation bloomberg.com hit a one-year high, with the central bank governor warning oil at $100 bloomberg.com could force rate hikes. Poland’s policymaker said rate cuts bloomberg.com are unlikely until the Iran war ends. The ECB investing.com remains in a "good place" despite Middle East turmoil, a Dutch official stated. Malaysia’s finance minister said the economy and currency remain within safe zones. China’s government made stability its top priority bloomberg.com amid the war, while Chinese markets weathered the turmoil better than Asian peers. The Philippines’ ICTSI bloomberg.com is still pursuing acquisitions despite the conflict.
Corporate Impacts & Strategies
ComfortDelGro wsj.com believes the Middle East conflict’s impact on transport will be short-lived. Lufthansa posted in-line earnings but warned of Iran conflict impact wsj.com. Honda plans to boost its Japan lineup by importing cars from the US and China. BYD wsj.com launched a fast-charging battery as demand slows in China. Pfizer secured China approval for an obesity drug. Burlington Stores wsj.com reported higher profit as consumers sought discounts. Atos met its €8 billion revenue target amid a turnaround.
Central Banks & Economic Outlook
South Africa’s finance minister bloomberg.com sounded the alarm on oil-driven inflation but expressed confidence in debt plans. The BSP flagged potential rate action if oil hits $100. The Soros Fund bloomberg.com CIO predicted a "painful" 18-24 months ahead. China set its lowest growth target since 1991 bloomberg.com, acknowledging strains in its economic model. The Philippines’ ICTSI is seeking expansion in Africa and Latin America regardless of Middle East turmoil. Nigeria’s revival plan stalled after its biggest shareholder bloomberg.com went missing.
Geopolitical & Shipping Fallout
Etihad Airways bloomberg.com prepared to resume flights after a week-long shutdown. The US granted bloomberg.com a temporary license for Indian refiners to buy Russian oil. Iran intensified strikes on GCC nations as trust vanished. Regular flights at Dubai, Abu Dhabi, and Doha hubs remain suspended, raising questions about the Gulf’s airline hub future ft.com. Shipping insurers Marsh and Aon bloomberg.com are in talks with the US on insuring tankers in the Strait of Hormuz. One bulk carrier signaled it was Chinese-owned bloomberg.com to transit the dangerous waterway.
Markets & Deals Wrap
SoftBank finance.yahoo.com is seeking a record $40 billion loan for an OpenAI stake. Vincorion wsj.com plans a Frankfurt listing as European defense spending rises. Hong Kong’s largest commercial landlord, Hongkong Land bloomberg.com, sees a "great rebound" in its property market. Japan’s Kioxia bloomberg.com and Don Quijote operator Pan Pacific will join the Nikkei. Honda will import US and Chinese cars for its home market. Goldman Sachs’ CEO investing.com called the market reaction to the Iran war "surprisingly benign."