Public Markets 8 Hours

Last updated: July 9, 2026, 5:30 AM ET

Middle East Tensions Drive Oil Higher, Denting Global Markets

Oil prices following a second day of U.S. strikes against Iran and retaliatory actions against American allies in the Persian Gulf. Goldman Sachs warned that renewed tensions in the Strait of Hormuz could delay a recovery in Middle Eastern oil supplies. The escalation raised fears that peace talks might be derailed, while Pakistan urgently sought a liquefied natural gas cargo after supply disruptions in the Strait of Hormuz prompted by attacks. European natural gas prices edged lower as traders assessed the region’s supply outlook amid the hostilities between the US and Iran. Despite the Middle East flare-up, copper snapped a two-day loss further U.S. strikes on Iran, with optimism for longer-term demand from artificial intelligence supporting the metal. Oil prices remain above pre-war levels, even as some traders. Stock futures, however and Asia stocks were choppy, reflecting investor anxiety over the conflict's impact on inflation and growth as noted by the Wall Street Journal. The situation also put India's rupee back under pressure as oil prices climbed, with Reserve Bank of India measures proving less effective than in 2013 according to Bloomberg.

Corporate Dealmaking and Corporate News

Hugo Boss urged its shareholders to reject Frasers Group’s $2.2 billion takeover bid, stating it undervalued the German fashion company. Prologis pressed talks on its $16.9 billion bid for Segro, urging the company’s shareholders to encourage their board to enter negotiations. Private equity firms TPG and Blackstone are seeking over $4 billion for Hologic’s unit to unlock cash, aiming to pay down debt and repay investors from a significant leveraged buyout. In Japan, creditors are attempting to recover more than $700 million from a collapsed payments firm suspected of faking financial statements for two decades as reported by Bloomberg. Meanwhile, Indonesian tycoon Jerry Ng is reportedly considering options for his holdings in PT BFI Finance Indonesia and digital lender PT Bank Jago.

Sector-Specific Challenges and Strategic Shifts

Capita Plc shares tumbled sharply after the company announced that profit and cash flow would be impacted by its failure to deliver on a contract to manage Britain’s civil service pension plan. French farmers may soon face less disruption, as France plans to invest €2 billion ($2.3 to reduce its dependence on fertilizer imports, aiming to shield them from future supply shocks according to Bloomberg. German exports unexpectedly rose in May, marking a fourth consecutive month of growth, driven by a strong rebound in shipments to the U.S. as detailed by Bloomberg. Porsche deliveries fell 16% in the first half, a decline attributed to the end of production for the gasoline-powered, strong prior-year demand for the all-electric Macan, and the expiration of U.S. tax incentives reported by the Wall Street Journal. AstraZeneca shares slid 9% after its heart treatment drug, Wainua, failed to meet its trial goal of reducing cardiovascular deaths according to the Financial Times. The world’s largest meat group, JBS, has scrapped a key climate goal, specifically its net-zero target that encompassed suppliers’ greenhouse gas emissions as reported by the Financial Times.

Asian Markets and Economic Developments

The Taiwan dollar fell to its weakest level since April 2025, erasing prior year gains as dollar strength and significant dividend payouts weighed on sentiment. Taiwan’s central bank governor has cautioned investors against borrowing to invest in the island’s booming stocks, which have surged on global demand for AI-related tech products as noted by Bloomberg. In Indonesia, the government is committed to paying 8.9 billion ringgit ($2.18 in remaining debts from the 1Malaysia Development Berhad scandal according to Bloomberg. Separately, Indonesia imported Russian crude oil for the first time since a deal in April, indicating Moscow's success in expanding its customer base amid the Iran conflict reported by Bloomberg. China’s top solar manufacturer has begun producing cells that substitute silver with copper, responding to the soaring prices of the precious metal that have impacted the industry according to Bloomberg.

Global Financial and Debt Markets

Investors are signaling that the UK’s plan for long-dated debt sales may require revision, suggesting that further political uncertainty could force the government to scale back its planned issuance according to Bloomberg. HSBC maintains an underweight position in U.S. Treasurys, primarily to fund its overweight holdings in equities and high-yield credit reported by the Wall Street Journal. Jupiter Asset Management has eliminated its U.S. Treasury holdings in one of its main bond funds, opting instead to purchase European government notes and increase its emerging markets position as noted by Bloomberg. Deutsche Bank's private arm is considering buying emerging Asia bonds if oil prices remain below $70, which could reduce inflation and yields according to Bloomberg. Arbitrage desks trading SK Hynix Inc.’s new American depository receipts find the comparison to Taiwan Semiconductor Manufacturing Co. limited, suggesting a more challenging trading environment reported by Bloomberg.