Public Markets 8 Hours

Last updated: August 6, 2026, 5:32 AM ET

Advertising and Media

WPP shares more than 20% after the advertising group's extensive review to streamline its businesses began to yield results. The company reported that revenue less pass-through costs, a key metric, declined less sharply in the last quarter due to a recovery in its media-buying operations. WPP Plc saw their biggest jump since their 1995 initial public offering as the company's turnaround efforts gained momentum.

Technology and Semiconductors

SoftBank Group's first-quarter net profit declined, following records set in recent quarters, primarily due to lower gains from its Vision Funds business. However, the company reported a smaller-than-expected decrease in quarterly net income, aided by a rally in its chip-stock holdings while awaiting further gains from its OpenAI investments. SoftBank also an $8 billion gain on its Intel stake, helping the Japanese group beat expectations. Chip stocks in both Asian and U.S. markets as investors grew nervous about the sustainability of artificial-intelligence spending. Siemens lifted its Smart Infrastructure outlook after strong demand for data centers boosted profit and orders, with the division securing large contracts for AI infrastructure development. Germany's Merck raised its outlook due to robust results and easing currency headwinds, pointing to stronger demand in life-science and electronics markets and resilience in healthcare. Zurich Insurance Group AG reported a 13% profit gain for the first half of 2026, driven by accelerating demand across all its businesses, particularly in global data center and energy infrastructure. Swiss Re first-half profit surpassed estimates, with all key business units performing in line with targets and the company announcing further cost-cutting measures.

Autos and Defense

Tank maker trimmed its annual sales guidance after Germany canceled a warship project, expecting a €300 million hit this year. Despite this, the company's revenues have still grown due to a boom in defense spending. The company now expects annual sales between $15.83 billion and $16.41 billion, which remains higher than its reported figures from last year.

Consumer and Gaming

Nintendo's first-quarter profit surged 54%, exceeding expectations driven by factors such as foreign-exchange gains and U.S. tariff refunds. East African Breweries Plc achieved its fastest annual profit growth in four years, even as rising inflation in Kenya impacted consumer spending power. Low-cost carrier Air warned that high fuel costs might wipe out profits, reporting a loss of almost €200 million between April and June.

Financial Services and Banking

Commerzbank AG a €1.2 billion share buyback as Chief Executive Officer Bettina Orlopp seeks to demonstrate strong returns, while Italian rival UniCredit SpA is preparing for potential actions after acquiring a near majority stake. Orlopp appealed for constructive dialogue with UniCredit following the Italian bank's move to secure a substantial stake in its German competitor. French asset Eurazeo is in talks to sell its stake in the beauty group Aroma-Zone, which specializes in face serums and food supplements, in a deal potentially nearing €2 billion. Wall Street firm Ares scaled back its €1 billion private credit fund after investors declined to participate due to concerns over loan valuations. Several of the largest U.S. law firms, including Paul Weiss, Quinn Emanuel, and Proskauer, have engaged in discussions about selling stakes to private equity. Insurance and bank stocks experienced declines amid fears of a crackdown on the financial sector in China, specifically a proposed levy on returns from investment-linked insurance policies. Griffin's hedge fund, Citadel, reportedly made billions last week after acquiring the majority of Situational Awareness's stock book.

Energy and Commodities

Nickel prices to their lowest level since mid-July on speculation that Indonesia will increase the ore-production quota for one of its largest mines, potentially boosting global supplies. BP's exit from the North Sea presents a wake-up call for the Scottish energy sector, dealing a blow to the oil and gas industry at a time when renewable energy projects are faltering. China's main group advocated for increased use of yuan-denominated index pricing in the iron ore market, arguing that such a shift would better reflect supply and demand dynamics in the world's largest consumer of the commodity.

Markets and Currencies

Gold prices held above the $4,300-an-ounce level amid increased optimism that a deal to reopen the Strait of Hormuz will reduce inflationary pressures and interest-rate hike expectations. Eurozone government yields rose slightly as investors focused on the prospect of the Strait of Hormuz reopening and the upcoming release of key U.S. monthly jobs data. The South Korean won strengthened to its highest level in nearly 10 months as exporters converted their dollar earnings into the local currency. A sale of 30-year Japanese bonds attracted firm demand, providing some stability to a market affected by currency volatility and concerns over the government's debt burden. The U.S. joined forces with Japan to attempt to halt the yen's depreciation, marking the first intervention in the Japanese currency by both nations in 15 years. The way this intervention is being conducted raises concerns that the Federal Reserve might be compelled to ease monetary conditions.

European Business and Economy

European stock advanced, driven by corporate earnings, with the Stoxx 600 index rising, led by consumer-facing stocks and healthcare companies. The European bloc is facing significant pressure from forces largely beyond its control, including the wars in Iran and Ukraine, wildfires, and migration challenges, as highlighted by a difficult summer. A shortage of half a million truck drivers across Europe poses a risk to supply chains and economies, according to union warnings. Reform UK and the Green Party have found common ground in opposing plans for a major solar farm in Kent, although the final decision rests with the UK government. Ratcliffe's Ineos has increased its investment in European chemical sector shares, with the company and its investors purchasing over €400 million in equities from listed peers, while some of the group's bonds are trading at a discount.

Global Business and Trends

OpenAI Google are investing heavily in voice systems as they anticipate a future where spoken interaction becomes the primary method for engaging with a new generation of AI agents. Scammers are impersonating regulatory bodies to exploit changes in EU cryptocurrency regulations, instructing customers of unlicensed exchanges to withdraw funds, thereby creating opportunities for fraudsters. After years of influencing Western perfumery, South Asian fragrance houses are experiencing growing international recognition and success. The U.S. government joined Japan in an unprecedented intervention to support the yen, marking the first such action in 15 years.