Public Markets 3 Days

Last updated: July 6, 2026, 8:30 AM ET

Public Markets Briefing: Recent Activity

Technology & Media

Shares of chip-stacking technology firm Besi tumbled 6.7% amid concerns over adoption delays, though the stock remains up over 90% year-to-date. In a significant media consolidation, Comcast’s Sky agreed to acquire British broadcaster ITV for approximately £1.6 billion ($2.1 , a move aimed at bolstering its competitive position against streaming giants. The deal will give Comcast control of a group reaching 21 million British households, combining two major U.K. media outlets. Meanwhile, Brookfield’s data center firm is seeking to raise up to $1.35 billion in a U.S. initial public offering. Ondas Inc. agreed to buy autonomous aircraft maker DZYNE Technologies for $875.8 million in cash and stock, establishing Ondas as a comprehensive autonomous defense technology platform.

Aerospace & Defense

France’s Thales will take a stake in maritime drone maker Exail, valuing the company at $4.46 billion including debt, as part of an agreement with the Gorge family for their 35.51% holding. However, Thales also faces a charge of unspecified amount in the first half after Germany scrapped its Frigate Program, impacting its financials as reported by the Wall Street Journal. In a significant defense contract, the U.K.’s BAE Systems, Italy’s Leonardo, and Japan’s Mitsubishi Heavy Industries secured a $6.14 billion contract from their respective nations to develop a new stealth fighter jet. Germany’s OHB has raised antitrust concerns regarding a planned European space deal that would create a rival to SpaceX, warning that the three-way merger could stifle competition and increase costs.

Energy & Commodities

Oil futures declined as OPEC+ agreed to another production hike, though demand may not necessitate the additional barrels, leading to fears of a surplus. The recovery of shipping flows through the Strait of Hormuz also contributed to the price drop as noted by the Wall Street Journal. European natural gas prices slipped 1.3%, though benchmark Dutch TTF contracts remained up over 5% for the week, influenced by LNG flow recovery and Asian demand uncertainties. Italy’s Eni invested $225 million in U.S. startup Energy X’s Chilean lithium project, securing rights to a quarter of future production.

Markets & Equities

U.S. stock futures rose ahead of a busy week for tech stocks, with the Nasdaq showing gains as traders appeared to brush off recent AI-driven volatility. SpaceX is set to join the Nasdaq-100 index, though it will represent a relatively small weighting. Morgan Stanley strategists predict a rotation from chip stocks to hyperscalers, suggesting U.S. stocks may struggle to reach new highs. Investors concerned about the AI rally's sustainability are increasingly eyeing old-economy stocks, according to a Markets Pulse survey. The small-cap Russell 2000 has climbed approximately 22% in the first six months of the year, marking its most significant run in decades. Asian technology stocks slumped following a report indicating a delay of over a year for Nvidia Corp.’s next-generation AI server rack system due to manufacturing issues.

M&A and Corporate Activity

EasyJet shares soared as the airline prepared to accept a fresh $7 billion takeover bid from Castlelake, with the latest proposal at £6.90 per share. The airline’s board stated it is inclined to recommend the proposal from the U.S. private credit group as reported by the Financial Times. Continental has agreed to sell its Conti Tech business to Lone Star Funds for approximately €3.1 billion, with proceeds to be used for debt reduction and shareholder distributions. Sapporo Breweries will form a joint venture in Southeast Asia and Hong Kong, with Carlsberg holding a 75% stake and receiving $643 million in cash from Sapporo. CVC Capital Partners raised approximately €3 billion ($3.4 for a new mid-market buyout fund. Fincantieri shares surged over 12% following agreements to acquire stakes in four companies, bolstering its operations.

International & Geopolitical

Indonesia and Singapore reaffirmed their commitment to maintaining free passage in the Strait of Malacca amid rising Middle East tensions. China conducted a ballistic missile test in the Pacific Ocean, drawing concern from other nations as reported by the New York Times. The U.S. dollar rose against a basket of currencies, with Societe Generale predicting its strength will persist into the latter half of 2026 due to a strong growth outlook. Hungary is preparing to sell its first international bond since Viktor Orban's departure, aiming to capitalize on a slump in borrowing costs. Argentina extended maturities on $6 billion in repurchase agreements to ease government debt ahead of the 2027 presidential election.

Other Notable Developments

Citigroup Inc. has joined a select group of banks providing vaulting and clearing services for London’s gold market. Gold futures rose following weaker U.S. jobs data and lower oil prices, diminishing expectations of a Federal Reserve interest rate hike. South Korea has embarked on 24-hour won trading, a move intended to boost its market liberalization and secure developed-market status from MSCI. The City of Johannesburg anticipates a path to a credit rating upgrade from Moody’s, despite its precarious financial situation.