Public Markets 8 Hours

Last updated: August 11, 2026, 5:38 AM ET

Equities

European defense stocks are set to resume their rally as analysts at Barclays and RBC Capital Markets see the region’s rearmament cycle entering a new phase. European indexes climbed in early trading, buoyed by energy shares amid rising oil prices. European markets have defied predictions of stagflation from the Iran war and continue to charge ahead, making Europe’s investment revival a winning bet for money managers. The FTSE 100 was steady but gilts dropped as the oil rally revived inflation worries.

In Asia, Wipro exited India’s Nifty 50 to make way for exchange operator BSE Ltd., reflecting the waning clout of Indian IT giants as Indian IT jobs face a structural threat from AI. The Nifty 50 inclusion of BSE could trigger passive inflows of about $741 million. India equity funds saw flows ease in July, though small- and mid-cap strategies remained hot.

In the U.S., CoreWeave shares have been recovering from a monthslong slump, and its earnings after the close Tuesday will test the rally’s sustainability. Samsung SDI acquired GM’s stake in their U.S. battery joint venture and will use the Indiana plant to make energy storage batteries. Hanwha Aerospace made a $1.2bn bid for Austal’s American shipbuilding business, a push into U.S. defense. AstraZeneca’s proposed $400bn merger with Bristol Myers unraveled, a setback for the return of pharma megadeals.

Fixed Income & Currencies

The euro-dollar pair stayed low vol; ING expects the euro to trade within $1.1515–1.1560. The yen weakened again as the effects of a recent government intervention fade, raising questions about further action. The yuan may resume its march against the dollar in September, supported by strong fall exports. The Singapore dollar held steady after stronger-than-expected Q2 GDP growth. BoE needs more parliamentary attention to strengthen its independence, argues a recent commentary.

Gilts declined as oil’s surge revived inflation fears, while U.S. futures were mostly lower amid Middle East tensions. Hong Kong tech index is set for an overhaul to include more AI and robotics companies, a long-awaited move. Hong Kong tax reforms in a “big bang” proposal aim to attract trading firms and compete with Singapore for financial talent.

Commodities & Energy

Brent crude neared $90 as the Strait of Hormuz impasse deepened, with President Trump demanding compensation from Iran before any reopening deal. The real squeeze is happening in refineries as Iranian, Ukrainian and Chinese export restrictions have taken millions of barrels of refined products off global markets. Adnoc L&S posted a record quarterly profit on strong shipping rates and fleet expansion. Aluminum hit a seven-week high as the Hormuz impasse threatened Middle Eastern supply. Gold is poised to rebound toward $4,500 an ounce, according to daily chart analysis.

Copper shipments from Indonesia were delayed after a boiler leak halted processing at the Gresik smelter. Larsen & Toubro plans to manufacture rare-earth magnets in India, riding a government push to reduce import reliance. China’s teapots in Shandong may boost Iranian crude buying as regional stockpiles dwindle, offering Tehran a lift. Rhine shipping was hit by drought; German states suspended the Sunday lorry ban to move goods.

Deals & IPOs

DayOne Data Centers confidentially filed for a $5bn U.S. IPO. Unitree, a Chinese robot maker, saw its IPO 5,500 times oversubscribed by retail investors, raising $900mn ahead of a Shanghai listing. Nick Blair, Tony Blair’s son, is seeking $200mn for a defence tech start-up called Pyra. Goldman Sachs staff were named suspects in a Brazilian probe concerning a shareholder dispute over cancer specialist Oncoclínicas. Nvidia is working with Wall Street to assemble a $500bn funding package for AI infrastructure, becoming the bank of AI. Cosine, a 30-person London start-up, has UK government backing to build a “sovereign AI” model but faces far better-resourced rivals.

Geopolitics & Policy

Trump secretly used a military jet to leave Turkey after hiding in an airport catering container, according to reports. EU border checks have doubled waiting times at airports; the newsletter also covers Spain’s migrant amnesty and a Turkish law on Kurdish militants. The Spain migrant crisis exposes serious challenges for young Moroccans as growth fails to translate into better living standards. Italian curling officials set up a rink near the Colosseum, hoping to capitalize on the Winter Olympics craze despite a heat wave. Hotel prices in Europe surged ahead of a historic solar eclipse visible from Iceland and Spain. Carbon tax plans will hit EU budget airlines hard while benefiting long-haul carriers. Crypto firms in the UK face growth constraints as banks refuse to serve them, lawmakers warn. Solar panel cowboy installers are being targeted by activist campaigners as complaints about faults and fakes grow. Mamdani, New York’s mayor, was urged by rabbis to tone down his anti-Israel messaging.

Other News

Jake Whisenant, who set a record for climbing Yosemite’s El Capitan, died in a fall. Late-night show host Jimmy Kimmel, guest-hosted by Anthony Anderson, wondered if Trump got a wig. Farage faced a protester with a trash can on his head, illustrating modern election tactics. M&A reporter confessions reveal malice and aspirations at the billion-dollar rumour mill. Unitree (already used) – no, we need unique. Let’s ensure we have used all. I see I missed AstraZeneca already used in equities. Unitree used in Deals. Mamdani used. Nick Blair used. Gilts used twice? Need to check. Article 20 is gilts, I used it in both equities and fixed income. That’s double. I must use each URL exactly once. So in equities paragraph I used FTSE 100 and gilts from same URL? Actually article 20 has URL for FTSE 100 Live. I linked both "FTSE 100" and "gilts" to that same URL? That’s two links. Rule: each source URL appears exactly once. So I can only link that URL once in the entire briefing. I need to choose one link per article. I will adjust. In equities, I wrote "The FTSE... but gilts dropped" – I can combine: "The FTSE 100(url) was steady but gilts dropped..." That’s one link. Good. But I also used the same URL in fixed income for "Gilts declined". That’s a second use. I must remove the fixed income mention or move the link. Better to keep the link only in one place. Since the article is about FTSE 100 Live and gilts, I can place it in fixed income with a single link. I’ll rewrite: in equities, just mention FTSE 100 without a link (since I can't link again), and in fixed income link the URL. But then the sentence in equities would lack a link. I need a link per paragraph. I can link something else in equities. Let’s restructure.

I’ll produce a final version ensuring each URL appears once. I’ll go through the list and mark which article I have used.

Better to write from scratch with a checklist. Let's do it systematically.

Start with a header. I'll have sections: Equities, Fixed Income & Currencies, Commodities & Energy, Deals & Corporate, Geopolitics & Policy, Technology & Innovation, Other News. Ensure each paragraph has links.

Write each paragraph with multiple sentences, each sentence having a link but not linking same article twice. Since each article only one link, I'll distribute across sentences.

Proceed.