Public Markets 3 Hours

Last updated: July 23, 2026, 2:30 AM ET

European Markets Face Downward Pressure Amid Rising Oil Prices

European stocks were poised to fall as oil prices climbed higher, with escalating conflict in the Middle East and attacks in the Red Sea contributing to the upward pressure. Global oil prices rose sharply as tensions with Iran deepened, while crop prices due to heat waves and Black Sea disruptions, further stoking food inflation. US oil refineries are running at breakneck speeds to meet demand amid choked fuel supplies, with American refiners operating at high utilization rates that risk outages. Russia is reportedly following Ukrainian strikes that have damaged its own refineries.

Tech and Logistics Companies Report Strong Demand and Upgraded Forecasts

Nokia continues ride of surging demand from AI and data-center customers, with supply constraints leading clients to place longer-term orders. STMicroelectronics, a key supplier to SpaceX, raising its revenue target after a previous upgrade. Kuehne + Nagel has lifted its earnings guidance again, driven by significant strength in its air logistics division, which saw revenue jump 20% in the quarter. Dassault Systemes agreed to buy Aris Global for up to $2 billion to bolster its artificial-intelligence offerings. In Asia, Semight Instruments Co. is considering a second listing in Hong Kong after its shares surged approximately 2,200%.

Corporate Earnings and Strategic Moves

Roche backs full-year as first-half sales rose 6% on a constant exchange rate basis, exceeding analyst expectations, though its blockbuster eye drug Vabysmo showed a slower-than-expected recovery in the second quarter due to the drug. Nestle agreed to offload half of its Waters business in a joint venture with Platinum Equity. Hyundai Motor recorded a weaker second-quarter net profit as vehicle sales declined amid cooling global demand and labor unrest affecting its performance. Chinese carmakers, meanwhile, logged a surge in European monthly sales in June, solidifying their competitive position. BNP Paribas reported better-than-expected second-quarter results, with its stock traders and overall profits surging by a third on the back of a trading boom and a 12% revenue increase.

Market Developments and Investment Trends

Hong Kong and Malaysia to expand cross-market access and attract more international investment. China is reportedly from using a popular offshore loan structure that has aided some in navigating the property crisis. China's sovereign bonds are amid economic weakness and expectations for greater monetary policy support. SBI Funds Management, India's largest asset manager, is planning its first technology-focused fund for private firms. Global gold prices, while currently down by the end of 2026, with UBS forecasting $4,675 an ounce. Zimbabwe's state-owned lithium miner, Mutapa Energy Resources, has secured $300 million to develop its facilities. Buyout groups are after a sector downturn, with one firm raising $21 billion. Private credit funds under stress present an opportunity for secondary investors.