Public Markets 8-Hour Briefing

Global Market Sell-Off

Asian stocks plunged the most in nearly a year, with South Korea's market crashing 12% amid escalating Iran tensions. European stocks edged higher while UAE stocks slid as trading resumed after a two-day closure.

Oil Surge

Oil prices extended higher as Middle East conflict threatens global supplies. Asian energy buyers face mounting stress as the war chokes access to crude and refined fuels. Goldman Sachs lifted its oil price forecast amid Hormuz disruptions and lower inventories.

Currency Turmoil

Indian rupee hit a record low as rising crude prices stoke inflation concerns. The Bank of Korea warned against excessive currency movements after the won sank to its weakest level since the global financial crisis. Investors are turning away from the yen as a traditional haven asset.

Corporate Impact

Adidas shares tumbled as its operating profit guide fell short of expectations. Vistry Group plunged 25% on sluggish profit growth and CEO retirement news. Brenntag slid after profit dropped 34% and the dividend was slashed.

IPO Market Strain

Kenya Pipeline IPO exceeded its target by 5.7%, while Indian companies hoping for public listings face new hurdles amid the market rout. Centurium Capital is in advanced talks to acquire Nestlé's Blue Bottle Coffee.

Central Bank Response

The RBI created intervention space to defend the rupee as it faces renewed strain. Swiss National Bank repeated its intervention threat as inflation remains near zero. Bank of Japan warned the Iran conflict could significantly impact Japan's economy.