Public Markets 3h Briefing
×Market Performance
FTSE 100 bloomberg.com is set to hold close to a new record as European markets show resilience. Allianz wsj.com delivered record operating profit for 2025 with growth across key metrics in the final quarter. AXA wsj.com reported a 24% increase in net profit for last year, driven by top-line growth and the sale of its investment management arm to BNP Paribas.
Regional Developments
Hong Kong's exchange ft.com posted record profits fueled by a Chinese listings boom, highlighting the city's comeback as an IPO and trading hub. JLL bloomberg.com projects Hong Kong residential prices to rise around 5% in 2026 amid the financial hub's economic recovery. Rakuten Bank investing.com shares slid as fintech restructuring talks reopened, creating uncertainty around the Japanese digital lender.
IPO Activity
Nasdaq ft.com is seeking to fast-track founders while letting index trackers absorb the risk, implementing engineered scarcity in public listings. NSE bloomberg.com has invited banks to pitch for roles on its long-awaited $2.5 billion India IPO, marking a significant moment for the South Asian market. The UK opened its first commercial lithium plant, boosting domestic metals mining as Western nations race to secure local supplies of critical minerals.
Corporate Moves
ENGIE investing.com agreed to acquire UK Power Networks for £10.5 billion, expanding its infrastructure portfolio. Prysmian investing.com posted mixed Q4 results while issuing 2026 guidance, reflecting ongoing challenges in the cable manufacturing sector. AXA SA investing.com achieved record 2025 earnings on strong property and casualty margins alongside robust investment income.
Policy & Regulation
EU states are clashing over industrial subsidies amid a push for competitiveness, with the steel industry particularly upset about being excluded from "Made in Europe" rules. Italy is pitching a novel approach to cut power prices by overhauling the market structure and costs of green energy transition. The UK government's debt sales are set to fall for the first time in four years, with major banks forecasting £247 billion of gilt issuance in the coming fiscal year as the chancellor seeks to rein in borrowing.