Public Markets 3h Briefing
×Last updated: July 21, 2026, 2:30 AM ET
European Markets Navigate Political Shifts and Corporate Earnings
The FTSE 100 remained steady bloomberg.com as Rachel Reeves was named the new UK Chancellor, while Novartis wsj.com reported a 1% rise in second-quarter net sales at constant currency, driven by strong performance from key drugs. In Germany, Chancellor Friedrich Merz to consolidate power following the resignation of a key parliamentary ally. Meanwhile, Julius Baer wsj.com saw its net profit more than double to a record high, with operating income up 26% due to increased net commission and fee income.
Commodities and Energy Face Mixed Pressures
Palm oil bloomberg.com from a near one-month high as weakness in crude and vegetable oil markets diminished the appeal of biofuels. Abu Dhabi's Adnoc ft.com in natural gas projects to bolster domestic self-sufficiency amid potential disruptions to its supply deal with Qatar. Iron ore dropped for a second day bloomberg.com as declining profit margins at Chinese steel mills and heightened US-Iran tensions weighed on the demand outlook.
Financial Services and Regulatory Scrutiny
US authorities ft.com Mark Walter’s insurance empire, focusing on the intersection of insurance and private capital. At the law firm Linklaters, partners ft.com, with the firm citing growth in Hong Kong listings and the US market. Former UBS trader Tom Hayes ft.com from the outset in the bank’s ‘Project Chocolate’ probe.
Industry Trends and Investment Outlook
deals surged ft.com to a record high as pharmaceutical giants, fearing patent expirations, aggressively sought new blockbuster drugs, with venture firm Dimension Capital raising $800mn for AI-designed medicines. drugs moving ft.com mainstream acceptance, with commercial success appearing less theoretical for LSD and mushroom-based treatments. The London Stock ft.com is planning round-the-clock trading and integrating AI.
Global Economic Concerns and Corporate Strategy
China is ft.com on AI models and chips to prevent Western acquisition of its advanced technologies. Tariffs imposed by the US are as the world's leading agricultural exporter. Turkish Airlines is bloomberg.com in Asia and South America to expand its global footprint. Japanese insurance firms bloomberg.com in three years in June, indicating stabilizing demand from a key buyer.