Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 5:36 AM ET
Energy & Commodities
Oil futures fell 1.3% in early Asian trade as OPEC+ signaled potential output increases, while gold held steady near $2,340/oz despite a weakening dollar. The euro hit its lowest level since August amid broader dollar gains as the Middle East war escalates. Meanwhile, China raised its yuan fixing for a record 15th straight week, showing continued support for currency appreciation despite volatility from the Iran conflict. Japan announced plans to sell oil from national reserves at pre-war prices, while Algeria hopes for a boon from $100 oil after Russia's invasion of Ukraine sent energy prices soaring.
European Markets
European natural gas open interest dropped to a five-month low as traders struggled with Middle East turmoil. German chemical firms warned of output cuts as supply chain disruptions ricochet through Europe's largest economy. Berkeley Group Holdings reiterated profit guidance but warned the Middle East conflict was "weighing heavily on risk sentiment." The FTSE 100 futures remained steady while the pound fell ahead of GDP data. European businesses warned Brussels over tech sovereignty push, arguing it could hit profits and undermine the continent's competitiveness.
Asian Markets
Hong Kong proposed easing listing rules to strengthen its appeal as an IPO venue, while also planning to expand its "name-and-shame" list to include law firms and auditors. JPMorgan secured a major leasing deal in West Kowloon, marking one of the city's largest office deals amid a prolonged downturn. Pay Pay Corp. kept dual listing on table after its $880 million US IPO debut. Thailand's growth could be halved if the Middle East conflict lasts three months, while the Philippines seeks oil law review as high prices threaten the nation. India's benchmark index faced a pivotal technical test, close to breaking a key long-term support level as surging oil prices intensified strain.
Corporate & IPO News
India's Shapoorji Pallonji Group aims to raise $1 billion through its first dollar bond sale to refinance local-currency debt maturing in April. Fintech Airwallex earmarked $1.1 billion for European expansion, courting clients with global customer bases across the UK, France, Germany, Netherlands and UAE. The National Stock Exchange of India opened a door for shareholders to sell stock as part of its planned IPO. German company Vincorion set IPO price at 17 euros per share, offering up to 345 million euros of shares with the offer period expected to start March 16.
Geopolitical & Trade Impact
Serbia purchased Chinese supersonic missiles as part of $17 billion defense upgrades against what President Vucic claimed were hostile intentions of nearby NATO countries. The war in Iran threatens China's "teapot" oil refineries, potentially cutting off a crucial source of supply. Strikes continued as Hormuz threats kept oil on edge, while Romanian inflation eased but surging global energy prices threaten to reverse the trend. Malaysia's subsidy bill will increase due to higher oil prices caused by the Middle East war.
Technology & Innovation
Tencent and Alibaba earnings due as Open Claw AI mania spreads in China, heightening interest in how the agent might drive growth and innovation. China's train to North Korea made its maiden voyage, with the K27 service resuming after six years. The hype around artificial intelligence software Open Claw has intensified focus on major Chinese tech earnings and potential growth drivers.
Financial Markets
US Treasuries volatility jumped to a nine-month high as the Iran war fanned inflation concerns and upended traders' expectations on the Federal Reserve's policy path. Economists see ECB holding rates until 2028, in a split from market expectations. Goldman Sachs said Iran war risks could weigh on the rand, potentially forcing a rate move as a weaker currency pushes inflation higher than the South African central bank is prepared to tolerate.
Mining & Resources
Australian gold miner Northern Star sank most in six years after cutting output guidance due to problems at a processing mill. Hedge fund Regal Partners was hit by a 93% crash in Australian biotech stock Immutep Ltd., which wiped out most of its A$582 million market value. Iron ore headed for its biggest weekly gain in over a year after China's state-backed buyer moved to expand restrictions on BHP Group products. Coal India shares rose for the third successive day to end at their highest level in over 16 months.
Infrastructure & Utilities
The electric grid needs huge upgrades to meet demand from data centers, but no one knows who will pay for them. Utilities around the US are set to spend tens of billions on high-voltage lines. Gas shortages and a harsh summer lured bulls to India power utilities, while Thai rice exports to the Middle East were halted as the escalating war disrupts shipments to the nation's largest market for the grain.
Private Markets
Carlyle overhauled its European private equity team after poor performance, with the US private capital group expected to restart fundraising in its flagship European buyout fund. The US waived sanctions on Russian oil, freeing up 19 million barrels for purchase, while the conflict boosts Russian oil revenues as tankers carrying Russian crude head to India.