Public Markets 8-Hour Briefing
×Global Market Performance
US stock futures turned lower as oil price surge kept Iran fears in play. European stocks edged lower as ongoing Middle East conflict continues to sap investor confidence. In contrast, Bitcoin traded upbeat at $72,000, leading a broader crypto rally as risk appetite improved in some segments.
Corporate Earnings & Outlooks
Ladbrokes owner Entain took an unexpectedly large £488 million impairment charge in annual results, blaming losses on UK Budget tax increases. Elia reported better-than-expected FY25 profit with a strong 2026 outlook that lifted its shares. Reckitt beat Q4 sales expectations on emerging markets strength, while DHL shares fell after its 2026 profit outlook only met expectations rather than exceeding them.
IPO & M&A Activity
GM-Backed Momenta confidentially filed for an IPO in Hong Kong, while TPG is considering options for Asia One Healthcare, including a sale or IPO, amid increasing deal activity for private equity-owned assets.
Economic Policy & Central Bank Actions
7IM reports that markets are not yet pricing in Iran war risk, suggesting it may take "another week or two" for the full impact to be reflected. Treasury yields climbed to a three-week high as inflation fears grow, particularly with rising crude oil prices due to the Iran conflict. Meanwhile, China set its lowest growth target since 1991, focusing on domestic demand while European gas prices extended gains on LNG supply fears.
Commodity & Currency Impact
Energy markets are feeling critical effects from the Iran war, with at least 3 LNG tankers diverted toward Asia on their way to Europe, spurring competition for the fuel. Iron ore rose as China renewed pledges to support its steel sector, while gold saw a billionaire with 16,000 kilos of gold expressing a long-term bullish case.