Public Markets 3 Hours

Last updated: May 13, 2026, 2:30 AM ET

European Corporates & Earnings

European industrial and utility giants reported mixed results, yet several firms signaled optimism by lifting full-year guidance. Deutsche Telekom increased its outlook despite reporting lower first-quarter net profit, driven by positive momentum from its U.S. division, while Merck KGaA followed suit, anticipating stronger performance from its life-sciences unit. In the energy sector, RWE’s adjusted earnings rose 25%, powered by its offshore wind segment which successfully absorbed weaker trading results. Meanwhile, Allianz achieved a record first quarter, booking €3.69bn in net profit attributable to shareholders, bolstered by robust property-casualty results and significant inflows to its Pimco asset management arm. Separately, Siemens announced a substantial €6bn ($7bn) share buyback program scheduled over five years, even as it navigates a tough operating environment where orders across key divisions climbed against headwinds.

UK Politics & Markets

Political uncertainty in the United Kingdom continues to weigh on sentiment, with gilt investors watching closely as Labour leader Keir Starmer battles to maintain authority following a decade marked by frequent leadership changes. The British pound remained steady as the political future hung in the balance, while in corporate news, activist investor Converium Capital complains that the stock of UK veterinary group CVS has failed to recover following a regulatory probe. Separately, the £10.6bn takeover battle for Intertek, pitting EQT against top London advisors, has become the major focus in the City, while Andy Burnham’s name surfaces as a potential figure creating risk for UK government bonds.

Asia-Pacific Markets & Geopolitics

Asian markets showed divergent trends, with India hiking tariffs on gold and silver imports to safeguard foreign-exchange reserves amid Middle East pressures, days after PM Modi voiced concern. In mainland China, Morgan Stanley projects the second-quarter profit outlook for Chinese firms will improve, supported by rising exports and early signs of reflation, even as President Xi Jinping plans for a long-term contest for global dominance against the U.S. Investors are also digesting the news that MSCI removed 18 Indonesian stocks from its global indices, including Barito Renewables. Furthermore, private equity firm Boyu Capital is raising $3bn for a new China fund after securing a majority stake in Starbucks’ domestic operations.

Global Trade & Inflation Pressures

Global logistics and energy markets are grappling with fallout from geopolitical conflict, pushing energy prices higher and threatening certain industries. In Japan, the Middle East conflict is choking natural gas supplies, leading to a rise in coal-power generation as LNG becomes prohibitively expensive. This supply disruption is also stalling construction projects globally due to soaring material costs derived from oil, potentially making low-cost air travel a relic of the past. European energy lobbies are seeking flexibility on gas storage targets to ease summer refilling pressure, while the U.S. reliance on European gas is set to surge to a record high to offset lost Middle Eastern supplies. Meanwhile, in fixed income, Euroclear’s proposal to accept Hong Kong-traded Chinese bonds as collateral aims to boost the internationalization of the renminbi.

US Tech & Finance Moves

Wall Street is witnessing structural shifts, with JPMorgan preparing to launch its Chase consumer bank in Germany, while the firm anticipates wider leadership reshuffles in its investment banking division, potentially installing Dorethee Blessing and others as co-heads of global investment banking. In the tech sector, the planned U.S.-China summit looms large, with President Trump joined by executives like Nvidia CEO Jensen Huang on Air Force One for discussions where AI risks are expected to be raised, though neither nation seems willing to decelerate the arms race. In U.S. primary politics, Democrats in Nebraska appear favored to secure a preferable Senate matchup following Cindy Burbank’s withdrawal after winning her primary.