Public Markets 3 Hours

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

Geopolitical Tensions Spark Commodity Volatility

Futures on the FTSE 100 fell sharply, and the British pound weakened as renewed hostilities between the US and Iran. Base metals also retreated amid concerns over economic growth prospects, while El Niño and the Iran conflict teamed up to create a food squeeze, impacting consumer prices. In response to potential supply shocks, South Africa plans to boost its strategic oil reserves for the first time since the apartheid era. Meanwhile, China’s crude oil imports from a slump, with analysts pointing to a return to stockpiling activities.

Asian Tech Sector Shows Resilience Amid Global Uncertainty

Taiwan Semiconductor Manufacturing Co. reported quarterly sales surged 36%, exceeding expectations and underscoring the sustained demand for AI hardware. Despite this strong performance, investors on Asian chipmakers following a significant rally, with TSMC, SK Hynix, and Samsung Electronics representing 29% of the MSCI Emerging Markets index. In a move to reduce costs and reliance on US technology, companies like Door Dash and Siemens are turning to Chinese AI models.

Financial Sector Activity and Strategic Moves

Global funds returned to Indian stocks with over $1 billion in buying last week, driven by a stable currency and improved earnings outlook. Wall Street banks are feasting on fees from a revival in large deals, including the SpaceX IPO and significant mergers, fueled by AI optimism and a strong consumer. Mastercard is examining the sale of its UK payments subsidiary Vocalink, with discussions underway to sell a majority stake back to British banks. Deutsche Bank and UniCredit are suing Linde over Russia sanctions losses in a test case that could determine lenders' ability to recover seized funds. In the UK, a task force chair predicts a £33bn boost to the economy if progress is made in areas like issuing sovereign bonds on blockchain, speeding up the digital finance shift.

Corporate and Economic Shifts

Nippon Paint has offered €7.5bn for Akzo Nobel's decorative coatings unit, attempting to disrupt a rival deal. The Netherlands is exploring how to manage manure surpluses, with volatile fertilizer costs potentially offering a solution. A study suggests that reducing reliance on China would cost the West $23 trillion, highlighting the challenge of reconfiguring strategic supply chains. In Australia, Chinese batteries are, with clean energy now comprising about half of the country's energy supply. Freshfields, a major law firm, has culled partners following a pay shake-up. Citigroup's CEO, Jane Fraser, is undergoing a "ruthless remake" of the bank, involving asset sales and job cuts.