Public Markets 3 Hours

Last updated: June 29, 2026, 5:30 AM ET

Global Markets & Corporate Actions

U.S. stock futures rose in early trading as investors showed cautious optimism following reports of U.S.-Iran peace talks, while the Nasdaq Composite was poised to break a losing streak. The cautious return to riskier assets came despite oil prices edging higher on potential de-escalation in the Gulf. Elsewhere, British American Tobacco Plc announced a significant workforce reduction, planning to cut about 5,500 jobs by year-end and outsource an additional 3,500 roles, amounting to roughly one-fifth of its global staff of 47,000 as part of a turnaround plan. This move follows similar reporting that the company is slashing 9,000 jobs and outsourcing roles affecting one in five staff.

Technology & AI

South Korean stocks saw a rebound, with major players like Samsung Electronics Co. and SK Hynix Inc. unveiling substantial investment plans that underscored the nation's commitment to artificial intelligence development driving a market rally. This surge, however, has exposed structural vulnerabilities in the Korean stock market, which is unaccustomed to such volatility driven by the global AI boom posing a risk. Meanwhile, Baidu's Chief Financial Officer discussed the company's evolution into a full-stack AI player, spanning everything from internet search and chips to large language models, cloud computing, and self-driving cars detailing its strategy.

European Markets & Monetary Policy

In Europe, Spanish inflation unexpectedly held well above target, remaining significantly higher than the European Central Bank's 2% goal in the initial reading post-US-Iran peace talks. Despite this, ECB Governing Council member Martins Kazaks indicated that there is no immediate need for a series of rapid interest rate hikes, suggesting the central bank can proceed cautiously. In corporate news, BT and Verizon are set to form a 50:50 international joint venture aimed at serving over 3,000 customers across approximately 180 countries expanding their reach.

Asia & Emerging Markets

Lenders to struggling luxury chocolate maker Godiva Japan Inc. have agreed to a nine-month loan extension for approximately ¥75 billion ($463 in debt, according to people familiar with the matter providing breathing room. In China, further restrictions on the export of 'dual-use' items with both civilian and military applications are being targeted at Japanese companies imposing new controls. Moody's Ratings has assessed that India can absorb a modest slippage in its fiscal deficit this year without jeopardizing its investment-grade rating, as higher energy prices are expected to boost revenues.

Deals & Valuations

U.K. private equity firm Bridgepoint Group Plc is set to acquire Kayne Anderson Real Estate, marking its first foray into the U.S. property market with a deal valued at $1.4 billion expanding its portfolio. Prosus, the owner of food delivery platforms such as Just Eat Takeaway.com, is targeting a $5 billion share buyback program and pursuing further acquisitions to fuel growth, seeking both outright purchases and minority stakes driving expansion. Amidst broader economic shifts, Lindt & Spruengli AG shares are on track for their worst quarterly performance in 17 years, as consumers react to sustained price increases for chocolate products affecting sales.