Public Markets 8 Hours

Last updated: August 13, 2026, 2:34 AM ET

Equities: Global Rally Continues

Global equity markets advanced, with the FTSE 100 set to participate in the rally as the pound steadied. In Asia, Lenovo shares surged 19% after a 43% revenue beat that reinforced AI optimism. The Nikkei rose 1.8% on chip and electronics gains, while South Korea’s KOSPI rallied 23% in 10 days as the global AI trade regained steam. Japanese stocks were also supported by eased fears of Fed rate hikes.

The AI rally extended to other sectors. Cerebras swung to a $450.5 million quarterly loss but lifted its full-year outlook. Treasury Wine gained 6.4% as China demand countered a revenue drop. ASX shares jumped the most in six years after an upbeat listings outlook, while Origin Energy rose the most in six months on earnings that beat estimates. Adyen boosted its revenue outlook on growing payment volumes, and Thyssenkrupp raised the low end of its profit guidance.

Commodities: Metals, Energy Mixed

Aluminum extended its fall from a seven-week high as supply fears eased after a major Middle East smelter restored production. Gold held near $4,400 an ounce as July US CPI data eased pressure on the Fed to hike, while gold also rose in early trade on reduced rate expectations. Oil fell 1.3% as US crude inventories unexpectedly rose. China’s coal-to-chemicals push delivered record profits for Ningxia Baofeng Energy as crude prices soared. Rio Tinto secured a $1.8 billion Australian bailout for its aluminium smelter, following similar industrial support deals.

Currencies & Policy: Fiscal and Monetary Signals

The pound steadied as global risk appetite improved. Australia’s housing price drop is making financial conditions more restrictive, RBA’s Kent said, helping cool the economy. Brazil’s Congress approved measures to curb spending growth ahead of Lula’s reelection bid. South Korea raised its cap on household debt growth and pledged more homes in Greater Seoul to contain a housing rally. Indonesia’s President Prabowo nominated insiders for top central bank posts, signaling policy continuity.

Corporate & IPO: Shein, Tata, and Luxury

Shein is said to consider an Aug. 28 Hong Kong trading debut, with investor orders starting Aug. 20. Anthropic investors bet on a $2 trillion valuation in a record IPO, fueled by rapid revenue growth. Legora, a legal AI start-up, seeks funds at a $10 billion valuation, up from $5.6 billion four months ago. Wealth managers are cutting fees to win clients from Anthropic and OpenAI. The Tata group lost $4.5 billion in market value as investors focus on succession and strategy. Aston Martin bondholders face a gloomy outlook as asset transfer plans worry senior creditors.

Geopolitical & Regulatory Overview

Trump administration tariffs are taxing US income from deploying knowledge abroad, undermining a key revenue stream. Mexico pushes for lower auto tariffs, applying levies on only a small portion of a car’s value. Russia’s blockade of Ukrainian ports threatens global grain supplies as strikes echo maritime battles. North Sea oil producers must speed up well closures, with one company fined over £16 million. Crypto-metals tokenisation of minerals is the latest attempt to fuse crypto and physical assets. Wall Street’s basketball billionaire mess: two NBA owners face trouble in their Wall Street businesses.