Public Markets 3 Hours

Last updated: August 12, 2026, 2:36 AM ET

Equities

European equities were under pressure, with the FTSE 100 slipping further as UK stocks fell and the pound held steady. In Asia, a major market-structure overhaul saw Indian index options trading volumes drop 27% in the first week of a new closing auction, forcing traders to recalibrate strategies. Australia’s AGL Energy surged the most in six months, with its battery operations helping offset declining wholesale electricity prices. South Korean chipmakers extended gains after a report that Temasek plans to invest in the sector: SK Hynix and Samsung both rose. JPMorgan raised its target for Singapore stocks to 7,000, citing robust economic growth and a narrowing valuation gap with developed peers. Indonesian ride-hailing and tech group GoTo, once valued at over $32bn, now faces removal from MSCI indexes after its shares plunged.

Corporate Shocks & Deal Activity

The week’s biggest surprise: Tata Sons chairman Natarajan Chandrasekaran resigned days before a contentious annual general meeting, throwing the salt-to-software conglomerate into leadership uncertainty. In another abrupt departure, Godrej Consumer shares tumbled as much as 8% after CEO Sudhir Sitapati resigned with immediate effect. Dutch bank ABN Amro bucked the negative sentiment, beating profit estimates by a wide margin on higher fees and lending income, and raised its revenue outlook. In pharma, a blockbuster deal collapsed as AstraZeneca ended talks for a $400bn tie-up with Bristol Myers Squibb after a chorus of investors revolted. Meanwhile, a botched trade forced US mortgage giant UWM into a $2.1bn emergency lifeline from Oaktree, following a $603mn loss; details of how the UWM bad trade unfolded reveal last-minute negotiations that saved the company from collapse.

Geopolitics, Energy & Policy

Geopolitical tensions over energy infrastructure escalated as the US administration asked Ukraine to stop strikes on oil tankers using a Russian port. Both JD Vance and, separately, the US asks Ukraine directly appealed for an end to attacks on vessels collecting Kazakh oil from Novorossiysk, warning of disruptions to global crude supplies. On the climate-trade front, the EU's carbon mechanism (CBAM) was criticized as a tariff in disguise, with analysts noting protectionist measures dressed up as environmental policy that will raise costs for importers. South Africa’s state utility Eskom aims to capitalize on a data centre “gold rush”, leveraging its surplus power capacity after finally ending years of blackouts; the chairman said the utility has “power that we cannot sell”.

Private Markets & IPOs

In the IPO pipeline, Japanese autonomous-driving startup Turing plans to open a US office and targets a $10bn valuation for its public listing, with mass production of driver-assistance software slated for 2030. Meanwhile, private equity firms are increasingly eyeing Britain’s university sector, with education deals offering rich pickings for financial buyers as institutions face financial strain and look for capital partners.