Public Markets 3h Briefing
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The S&P 500 ft.com dropped 1.2% in its worst week since June, marking its first two-week loss as Middle East conflict escalated. Entrata bloomberg.com is working with Goldman Sachs and JPMorgan on an IPO, highlighting continued deal activity. European stocks headed for the biggest two-day drop since April as conflict intensified bloomberg.com, while Asian oil refiners considered cutting run rates on Hormuz Strait logjam concerns as traders scrambled for alternatives bloomberg.com. The FTSE 100 fell as war tensions weighed and the pound remained weak investing.com, with UK budget talks in focus. Bond yields surged as energy prices fueled inflation fears spurring traders to price out a BOE rate cut bloomberg.com, while banks sought Treasury bill exemptions from leverage rules bloomberg.com.
Energy & Commodities
Japanese power futures jumped after escalating Iran conflict spurred hedging against rising energy costs as Qatar LNG halt jolted markets wsj.com, pushing European gas prices over 20% higher. Asian refiners faced crude access hurdles as the Middle East war dragged on, with South African stocks surging on gold and rand strength per Bank of America bloomberg.com. Gold wagers hit a 16-week high as risk-off sentiment grew wsj.com, while oil prices rose amid the S&P 500's decline.
Companies & Deals
Shoprite's margin narrowed in market share battles as Africa's largest grocer held prices lower bloomberg.com, while Greggs reported a profit slump as UK bakery sales slowed bloomberg.com. Beiersdorf flagged a softer 2026 outlook on cost and FX pressures investing.com, and Nidec faced $1.6B accounting scandal charges forcing leadership exits bloomberg.com. Reach Plc shares fell 5% after a £223m impairment investing.com, while Zurich confirmed a $11B Beazley takeover ending uncertainty wsj.com. Orsted faced fresh exit calls as Denmark eyed selling its stake bloomberg.com, and Thales booked 8% sales growth on defense orders wsj.com.
Policy & Regulation
The ECB won't base rate decisions solely on energy prices as Villeroy de Galhau stated bloomberg.com, while banks pushed for UK Treasury bill exemptions to expand markets. Asian markets scrambled for oil alternatives as the Iran war persisted, and the UK's food inflation rebounded clouding BOE outlooks bloomberg.com.