29. Jul 2026
Description
(AWP Alliance News) - European equities are called to open lower after US and Saudi warplanes carried out strikes against Iran-backed militants in Iraq. Investors also await the US Federal Reserve's interest rate decision later today.
Here is what you need to know before the European market open on Wednesday:
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MARKETS
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CAC 40: called down 38.8 points, 0.5%, at 8,419.98
DAX 40: called down 183.8 points, 0.7%, at 25,280.21
FTSE 100: called down 36.5 points, 0.3%, at 10,834.52
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Hang Seng: up 1.4% at 25,657.66
Nikkei 225: down 2.7% at 60,679.10
S&P/ASX 200: up 1.0% at 9,034.70
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DJIA: closed up 537.24 points, 1.0%, at 52,747.32.
S&P 500: closed up 15.60 points, 0.2%, at 7,428.78
Nasdaq Composite: closed down 55.17 points, 0.2%, at 24,876.91
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US 10-year Treasury yield: 4.62% (4.59%)
US 30-year Treasury yield: 5.10% (5.09%)
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EUR: higher at USD1.1401 (USD1.1397)
GBP: lower at USD1.3299 (USD1.3306)
USD: lower at JPY163.48 (JPY163.68)
GOLD: lower at USD4,024.16 per ounce (USD4,035.95)
OIL (Brent): higher at USD87.68 a barrel (USD84.87)
(changes since previous London equities close)
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ECONOMIC CALENDAR
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11:00 IST Ireland GDP
08:00 SAST South Africa money supply
10:00 CEST Switzerland economic sentiment index
09:30 BST UK mortgage approvals
10:30 EDT US EIA crude oil stocks
14:00 EDT US interest rate decision
14:30 EDT US Fed press conference
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TOP ECONOMIC NEWS
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US and Saudi warplanes carried out strikes against Iran-backed militants in Iraq who launched more than two dozen drone attacks in recent days, the US military said. The strikes targeted "Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure," US Central Command said in a statement. It further warned that "the IRGC and its terrorist proxies must cease these attacks to avoid further US military response." Saudi Arabia confirmed its involvement in the strikes, with its defence ministry saying it hit "targets belonging to those militias present on Iraqi territory that are linked to attacks on the kingdom's oil facilities." Centcom had said earlier Tuesday that Iran launched multiple ballistic missiles in an "attempted surprise attack on US forces based in the Middle East", but that all of them were intercepted.
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Israeli Prime Minister Benjamin Netanyahu visited the White House for his first in-person talks with US President Donald Trump since the Iran war began, with the Israeli leader saying they discussed ensuring Tehran does not acquire nuclear arms. The closed-door talks - which the White House described as "positive and productive" - lasted for about an hour and a half and came as Netanyahu and Trump sought to patch over public disagreements on the war. Netanyahu said in a video message after the meeting that it was "one of the best conversations I've ever had with the president of the US" and that it touched on "our common goal: ensuring that Iran does not obtain nuclear weapons."
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Australia's consumer price inflation eased in June, official data showed. According to the Australian Bureau of Statistics, the consumer price index rose 3.8% year-on-year in June, slowing from 4.0% in May. The latest reading is below the FXStreet-cited consensus forecast of 4.0%. Trimmed mean inflation excluding volatile items was 3.6% in June on-year, unchanged from May's reading. On a monthly basis, CPI fell 0.1% in both original terms and seasonally adjusted terms.
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COMPANY CALENDAR
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Aberdeen Group PLC - half year results
Airbus SE - half year results
Align Technology Inc - half year results
Amphenol Corp - half year results
Aon PLC - half year results
Arm Holdings PLC - Q1 results
Aston Martin Lagonda Global Holdings PLC - half year results
Auto1 Group SE - trading statement
Automatic Data Processing Inc - full year results
BASF SE - half year results
Biogen Inc - half year results
Breedon Group PLC - half year results
Bunge Global SA - half year results
Bureau Veritas SA - half year results
BXP Inc - half year results
Campari NV - half year results
CBRE Group Inc - half year results
CGI Inc - Q3 results
Chipotle Mexican Grill Inc - half year results
Cognizant Technology Solutions Corp - half year results
Danone SA - half year results
Deutsche Bank AG - half year results
DWS Group GmbH & Co KGaA - half year results
Electrolux AB - half year results
Elia Group SA - half year results
Elisa Oyi - dividend payment date
Endesa SA - half year results
Eni Spa - half year results
Entergy Corp - half year results
Equinix Inc - half year results
Expand Energy Corp - half year results
Fair Isaac Corp - half year results
Fortinet Inc - half year results
Fortive Corp - half year results
Gap Inc - dividend payment date
Garmin Ltd - half year results
Glencore PLC - trading statement
Greggs PLC - half year results
GSK PLC - half year results
Hera Spa - half year results
Hermes International - half year results
Intesa Sanpaolo Spa - half year results
Inwit Spa - half year results
JDE Peet's BV - half year results
Jeronimo Martins SA - half year results
Keppel REIT - half year results
Kerry Group PLC - half year results
Komatsu Ltd - Q1 results
Krones AG - half year results
La Francaise des Jeux - half year results
Lancashire Holdings Ltd - half year results
Legrand SA - half year results
L'Oreal SA - half year results
Meta Platforms Inc - half year results
Microsoft Corp - half year results
Nexi Spa - half year results
Nordex SE - half year results
Old Dominion Freight Line Inc - half year results
O'Reilly Automotive Inc - half year results
Paragon Banking Group PLC - trading statement
Paycom Software Inc - half year results
PayPoint PLC - AGM and trading statement
Pirelli & C Spa - half year results
Porsche AG - half year results
Procter & Gamble Co - full year results
Rathbones Group PLC - half year results
Reckitt Benckiser Group Plc - half year results
Recordati Spa - half year results
Redcare Pharmacy NV - half year results
Sage Group PLC - trading statement
Snam Spa - half year results
Solvay SA - half year results
St James's Place PLC - half year results
Stanley Black & Decker Inc - half year results
Starbucks Corp - Q3 results
Telefonica SA - half year results
Terna Spa - half year results
UBS Group AG - half year results
United Microelectronics Corp - half year results
Vinci SA - half year results
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TOP COMPANY NEWS
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Apple reached a record market capitalisation of USD5.036 trillion, a day after surpassing Nvidia as the world's most valuable company. The achievement comes less than a year after the Cupertino, California-based iPhone maker reached the USD4.000 trillion mark.
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Visa reported better-than-expected third quarter earnings but said it is taking a USD563 million charge related to job cuts. The San Francisco, California-based payment card services company said net income rose 6.8% to USD5.63 billion in the three months ended June 30 from USD5.27 billion the year prior. GAAP basic earnings per share increased 10% to USD2.97 from USD2.69 on-year, while non-GAAP EPS increased 11% to USD3.32 from USD2.98, and beat USD3.23 consensus. Revenue increased 14% to USD11.63 billion from USD10.17 billion, or 13% at constant currency, beating Visible Alpha consensus of USD 11.38 billion.
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Rio Tinto posted sharply higher first-half profit and revenue supported by broad productivity gains across the business. The London-based miner said attributable net earnings in the six months to June 30 surged 47% to USD6.66 billion from USD4.53 billion a year prior. Underlying earnings climbed 43% to USD6.85 billion from USD4.81 billion, while underlying earnings per share grew 42% to 421.4 US cents from 296.0 cents. Rio Tinto lifted its ordinary dividend per share by 43% to 211.0 US cents from 148.0 cents. Consolidated sales revenue rose 15% to USD31.03 billion from USD26.87 billion.
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EssilorLuxottica reported first half adjusted operating profit ahead of market expectations as it saw AI glasses sales "nearly double" in the second quarter. The Paris-based eyewear holding company reported net profit attributable to owners of the parent of EUR1.57 billion, up 13% from EUR1.39 billion a year ago. Revenue totalled EUR14.82 billion, up 5.7% from EUR14.02 billion, or up 9.7% at constant exchange rates. Over the next five years, the company expects "solid" total revenue growth at constant exchange rates and "broadly aligned growth" of adjusted operating profit.
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Woodside Energy posted stronger operating revenue for the second quarter of 2026, with the company benefitting from a notable increase in average realised prices. The Perth, Australia-based oil and gas company said operating revenue jumped 28% to USD4.19 billion in the second quarter ended June 30 from USD3.28 billion a year earlier. Total production volumes fell 18% to 41.3 million barrels of oil equivalent from 50.1 MMboe previously, while sales volumes declined by 12% to 48.0 MMboe from 54.5 MMboe.
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KLA reported strong fourth quarter results on broad-based demand across its semiconductor process control business. The Milpitas, California-based company is a supplier of process control and yield management solutions and services for the semiconductor and related electronics industries. Net income in the three months to June 30 grew 13% to USD1.36 billion from USD1.20 billion in the same period a year ago. Net income per diluted share surged 54% to USD1.04 from USD0.91. Revenue in the fourth quarter climbed 15% to USD3.66 billion from USD3.18 billion. Looking ahead, KLA expects total revenue in financial year 2027 to be in the range of USD4 billion, plus or minus USD200 million
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Mondelez noted "robust top-line expansion" as the company posted improved second quarter revenue and net earnings. The Chicago, Illinois-based food and beverage company said revenue rose 4.1% year-on-year to USD9.36 billion from USD8.98 billion. Net earnings rose more than doubled to USD1.55 billion from USD644 million. Diluted earnings per share more than doubled year-on-year to USD1.20 from USD0.49.
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NXP Semiconductors reported better than expected second quarter earnings and revenue, though profit declined sharply from a quarter prior. The Eindhoven, Netherlands-based chipmaker eported net income attributable to stockholders USD767 million in the three months to June, up 72% from USD445 million a year ago, though down 32% from the quarter prior. Diluted earnings per share improved to USD3.02 from USD1.75. Adjusted earnings per share of USD3.61 surpassed the USD3.52 FactSet consensus. Revenue totalled USD3.50 billion, up 19% from USD2.93 billion a year prior
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Ford Motor reported better than expected earnings, as its finance chief announced recovery of F-Series pickup truck production is on track. The Dearborn, Michigan-based automaker reported revenue of USD44.89 billion in the quarter, down 4.4% from USD46.94 a year ago. Net loss attributable to Ford widened to USD1.33 billion from USD36 million. Basic and diluted loss per share widened to USD0.33 from USD0.01. Adjusted earnings per share of USD0.42 cents beat the USD0.35 LSEG consensus. Looking ahead, Ford now expects 2026 adjusted earnings before interest and taxes of USD10.0 billion to USD11.0 billion, up from USD8.5 billion to USD10.5 billion before.
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Compagnie de Saint-Gobain announced two targeted acquisitions to strengthen its position in the Asia Pacific region, without providing specific financial details. The Paris-based designer, manufacturer, and distributor of building materials has completed the acquisition of Phu My Innovative Materials in Vietnam. In addition to this, Saint-Gobain said it has entered into a share transfer agreement to acquire a majority stake in Tokyo-based AGC Polymer Materials from Tokyo-based glass manufacturer AGC. The acquisition is expected to close in the first quarter of 2027.
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CoStar said second quarter revenue climbed 18% in what it called "a profitability inflection point". The Arlington, Virginia-based provider of online real estate marketplaces, information and analytics said revenue climbed 18% year-on-year to USD925 million from USD781 million and narrowly missing the USD929 million expected. Net income multiplied year-on-year to USD55 million, from USD6 million. Diluted earnings per share for the second quarter multiplied to USD0.14, up from USD0.01.
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Logitech delivered a strong start to its financial year with quarterly profit rising sharply. The Lausanne, Switzerland-based computer peripherals and software manufacturer said net income in the first quarter ended June 30 jumped 61% to USD245.7 million from USD146.0 million in the same quarter a year ago. Basic earnings per share climbed 66% to USD1.64 from USD0.99 and diluted EPS rose to USD1.63 from USD0.98. Net sales totalled USD1.23 billion, up 6.9% from USD1.15 billion. Logitech did not issue a full-year outlook but said "demand momentum from Q1 is expected to carry into the remainder of the year".
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Ferrovial posted stronger revenue for the first half of 2026, but profit was significantly lower as the company benefitted from a larger gain on assets disposals in the corresponding period a year prior. The Amsterdam-based company said net profit attributable to the parent company declined by 52% to EUR258 million in the six months ended June 30 from EUR540 million a year earlier, with diluted and basic earnings per share down at EUR0.36 from EUR0.75. Revenue grew 5.2% to EUR4.70 billion from EUR4.47 billion, while total operating expenses increased by 3.7% to EUR3.96 billion from EUR3.81 billion.
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Northern Star Resources posted lower annual and quarterly gold sales. The Perth, Australia-headquartered gold producer said gold sold declined 2.4% to 433,482 ounces in the three months to June 30 from 444,034 ounces in the same quarter a year earlier. All-in sustaining cost was AUD2,651 per ounce or USD1,821. Gold recovered for the quarter decreased 2.2% to 436,186 ounces from 445,909 ounces. Annually, Northern Star sold 1.5 million ounces of gold, down 5.6% from 1.6 million ounces a year ago. AISC was AUD2,698 per ounce.
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Mineral Resources said volume and cost guidance across all business segments was achieved or exceeded in financial year 2026. The Perth, Australia-based mining services and lithium and iron ore producer reported iron ore volume at Onslow Iron more than doubled to 19.7 million wet metric tonnes in the twelve months to June 30 from 8.0 million wmt a year ago. At the Pilbara hub, iron ore volume rose 2.1% to 9.9 million wmt from 9.7 million wmt. Meanwhile, lithium volume at Wodgina climbed 48% to 317,000 dry metric tonnes of SC6 from 214,000 dmt. At Mt Marion, lithium volume jumped 19% to 242,000 dmt from 203,000 dmt.
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Atlas Arteria announced a new debt facility and said toll revenue declined in the second quarter of 2026. The Melbourne, Australia-based company said proportionate toll revenue was 8.1% lower year-on-year in the three months ended June 30, which the company attributed to foreign exchange movements. Excluding such movements, proportionate toll revenue edged down 0.3%.
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Greatland Resources reported a solid increase in annual gold and copper output, finishing above its full-year guidance. The Subiaco, Australia-based gold and copper producer said it outperformed the annual gold production guidance of 260,000 to 310,000 ounces as gold output in financial year 2026 ended June 30 rose 66% to 328,987 ounces from 198,319 ounces a year ago. All-in sustaining cost was AUD2,179 per ounce of gold. Copper production jumped 73% to 14,694 tonnes from 8,429 tonnes. Greatland noted that financial 2025's output only covered the seven months it owned Telfer-Havieron following completion of the acquisition in December 2024, having bought the assets from Newmont Corp.
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Ramelius Resources reported annual gold output fell sharply in financial year 2026. The Perth, Australia-based gold exploration and mining company said gold production dropped 36% to 192,182 ounces in financial year ended June 30 from 301,664 ounces a year ago, but still met its annual guidance of 185,000 to 205,000 ounces. All-in sustaining cost was AUD1,983 per ounce from AUD1,551 per ounce previously. In the fourth quarter alone, gold production reached 53,466 ounces, declining 27% from 73,454 ounces in the same period last year.
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West African Resources said gold production surged to a new record in the second quarter of 2026, with gold sales also climbing and benefitting from higher average prices. The company said gold production more than doubled to a new quarterly record of 125,179 ounces in the three months ended June 30 from 45,611 ounces in the same period a year prior. Gold sales in the second quarter doubled to 110,737 ounces from 49,840 ounces, while the average realised price climbed 39% to USD4,556 from USD3,282 per ounce.
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By Judy Amaca, Alliance News reporter Asia-Pacific
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