Public Markets 8-Hour Briefing
×Global Market Turmoil
European stocks edged lower as ongoing Middle East conflict sapped investor confidence, with the FTSE 100 falling alongside UK stocks as tensions remained in focus. Emerging-market currency volatility surged above developed-market peers for the first time since May, breaking a record lull as traders brace for more selling in Indian shares amid the Iran war. Asian equities rebounded as markets regained composure following a surge in volatility, with South Korea leading the recovery after President Lee activated a $68 billion market stabilization fund.
Energy & Commodities
Oil prices pushed higher amid Iran conflict concerns, with Treasury yields climbing to a three-week high as inflation fears grew due to rising crude oil prices. Coal prices jumped as utilities sought alternatives to gas, raising prospects of restarting mothballed coal power plants. Iron ore rose as Beijing vowed measures to support its steel sector, while gold wagers hit a 16-week high as risk-off sentiment grew amid Middle East tensions.
Corporate & Deal News
Rentokil Initial reported higher revenue amid leadership transition, with shares jumping 12% as North American growth lifted 2025 results. Reckitt Benckiser beat Q4 sales expectations on emerging markets strength, keeping its 2026 outlook on track. Galderma doubled Nemluvio targets as 2025 sales topped $5 billion for the first time. Amplifon slumped after Q4 miss, scrapping 2026 quantitative guidance, while Ibstock slid after full-year results pointed to a softer 2026 outlook.
Regional Developments
Bangladesh prepared to reduce petrol pump deliveries as the country tried to stretch existing reserves amid the Middle East conflict. Southeast Asian governments remained on alert for economic impact, with India's automakers delaying Mideast shipments as Iran war snarled exports. Gulf oil producers faced a race to resume exports before storage filled up, with analysts estimating Saudi Arabia had roughly two weeks before needing to cut crude output.
Tech & Innovation
Chinese contact lens maker Moody was said to mull a $1 billion sale, while GM-backed driverless tech firm Momenta confidentially filed for an IPO in Hong Kong. Chinese toy retailer Pop Mart shares rose as Beijing voiced support for IP consumption. Nvidia stopped production of chips intended for the Chinese market, moving production away from H200s to latest Vera Rubin products.
Financial Services
Deutsche Bank downgraded Domino's Pizza on turnaround concerns, while DHL parent Deutsche Post expected earnings growth despite uncertain conditions. Aviva beat on capital generation but met profit targets. Zurich Insurance posted record 2025 profit, raising dividends to CHF. Credit Agricole began hunting for a new London headquarters, potentially departing its home of almost four decades.
Defense & Aerospace
Ukraine battlefield tech firm UFORCE neared a $1 billion valuation as Western and Gulf militaries scrambled for its technology. South Korean defense contractor LIG Nex1 shares jumped on reports of potential Gulf orders for missile interceptors. European defense tech start-ups hunted for more capital, with industry executives citing the need to secure European funding and government contracts.
Private Markets
TPG was said to consider sale or IPO of Asia One Healthcare amid increasing deal activity for private equity-owned assets. India's NaBFID planned a $500 million equity fund, while Amundi, KKR, and Temasek were among bidders for UOB Asset Management. Blackstone positioned Liftoff Mobile for an IPO as the private equity giant expanded its portfolio.
Policy & Regulation
UK energy suppliers pulled fixed-tariff deals as Iran crisis drove up prices, with household providers withdrawing or raising tariffs after a surge in wholesale costs. UK regulator studied the £8 billion private dentistry market over price concerns as NHS waiting lists reached record highs. South Africa's finance minister sounded alarm over oil spike, warning that sustained higher prices may fuel inflation despite government buffers.