28. Jul 2026
Description
(AWP Alliance News) - Calls for equities in Europe are mixed as hopes revive for renewed diplomacy between the US and Iran, even as both sides have yet to enter formal talks.
Here is what you need to know before the European market open on Tuesday:
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MARKETS
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CAC 40: called down 28.1 points, 0.3%, at 8,377.96
DAX 40: called up 42.0 points, 0.2%, at 25,403.03
FTSE 100: called down 21.5 points, 0.2%, at 10,760.25
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Hang Seng: down 0.1% at 25,178.21
Nikkei 225: down 4.0% at 62,326.98
S&P/ASX 200: up 0.4% at 8,932.40
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DJIA: closed up 262.83 points, 0.5%, at 52,210.08
S&P 500: closed up 1.20 points at 7,413.18
Nasdaq Composite: closed down 43.74 points, 0.2%, at 24,932.08:
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US 10-year Treasury yield: 4.63% (4.65%)
US 30-year Treasury yield: 5.12% (5.13%)
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EUR: lower at USD1.1370 (USD1.1376)
GBP: lower at USD1.3293(USD1.3305)
USD: higher at JPY163.77 (JPY163.67)
GOLD: lower at USD4,046.62 per ounce (USD4,077.10)
OIL (Brent): lower at USD87.30 a barrel (USD89.71)
(changes since previous London equities close)
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ECONOMIC CALENDAR
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08:45 CEST France consumer confidence
09:00 CEST Spain unemployment
09:00 CEST Spai retail sales
08:30 EDT US wholesale inventories
08:55 EDT US Redbook index
09:00 EDT US S&P/Case-Shiller home price index
09:00 EDT US house price index
10:00 EDT US Conference Board consumer confidence
10:00 EDT US Richmond Fed manufacturing index
14:00 EDT US FOMC meetings begins
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TOP ECONOMIC NEWS
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US President Donald Trump voiced optimism at the prospects for a negotiated peace deal with Iran, as the two sides held their fire for a third consecutive day. The US leader expressed hope that renewed diplomacy could bring an end to the war that began in late February with a wave of US-Israeli strikes, rattling both the region and the global economy. Tehran had earlier denied that there were any talks with the US to end the conflict. But Trump insisted during a speech in Michigan that "right now, they're talking to us about making a deal". Trump also dismissed concerns that US ammunition stockpiles were running low nearly five months after the war began.
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The US began reviewing its military presence in Europe, officials said, after US Defense Secretary Pete Hegseth told his Nato counterparts last month that Washington was planning such an analysis. "As the Secretary (Hegseth) laid out then, this will be a real review, designed to ensure that Nato is moving fast and irreversibly toward Europe taking primary responsibility for its conventional defense," US Defense Under Secretary Elbridge Colby wrote on X. "The outcome of this review will be an acceleration of Nato's transition to a stronger, more equitable, and sustainable alliance," Colby added.
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Global electric vehicle registrations continued to rise in the first half of the year, but growth slowed sharply, according to a study by consultancy PwC covering 43 major markets. Around 6.6 million fully battery-powered electric vehicles, or BEVs, were newly registered, up 9% from the same period last year. While that still represents growth, the pace has slowed considerably. Registrations had risen by more than a third in the first half of 2025 and by almost a third over the whole of last year. China was the main factor behind the slowdown. The world's largest electric vehicle market by far shrank by 5% in the first half of the year to just under 3.6 million BEVs, according to PwC.
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UK shop price inflation decelerated in early July, except for fresh food, the British Retail Consortium reported, as firms "competed hard" to keep costs down. The BRC-NIQ shop price monitor, which covered the period from July 1 to July 7, found that year-on-year shop price inflation decreased to 0.9% from 1.2% in June. This was below the three-month average of 1.1%. On a monthly basis, prices decreased 0.1% in July compared with 0.4% in June.
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COMPANY CALENDAR
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Air Liquide SA - half year results
Barclays PLC - half year results
Boeing Co - half year results
Brown & Brown Inc - half year results
Caesars Entertainment Inc - half year results
Coats Group PLC - half year results
Coca-Cola Co - half year results
Croda International PLC - half year results
Enphase Energy Inc - half year results
EssilorLuxottica SA - half year results
FirstEnergy Corp - half year results
Ford Motor Co - half year results
Games Workshop Group PLC - full year results
Hilton Worldwide Holdings Inc - half year results
Hongkong Land Holdings Ltd - half year results
Inchcape PLC - half year results
Invesco Ltd - half year results
Japan Exchange Group Inc - Q1 results
Kering SA - half year results
KLA Corp - full year results
Lagardere SA - half year results
Linde PLC - AGM
Logitech International SA - Q1 results
Man Group PLC - half year results
Mercedes-Benz Group AG - half year results
Mondelez International Inc - half year results
NXP Semiconductors NV - half year results
Omnicom Group Inc - half year results
Orange SA - half year results
PayPal Holdings Inc - half year results
Royal Philips NV - half year results
S&P Global Inc - half year results
Safran SA - half year results
Sequoia Economic Infrastructure Income Fund Ltd - AGM
Sherwin-Williams Co - half year results
Sika AG - half year results
Textron Inc - half year results
TransUnion - half year results
Unilever PLC - half year results
Unite Group PLC - half year results
Visa Inc - Q3 results
Xylem Inc - half year results
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TOP COMPANY NEWS
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Apple regained its crown as the world's most valuable company, edging past chipmaker Nvidia. Apple's market value climbed to about USD4.94 trillion, topping Nvidia's roughly USD4.83 trillion. Investors have increasingly viewed Apple's restrained capital spending as a strength, especially compared with rivals committing tens of billions of dollars to new artificial intelligence. infrastructure.
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Nvidia and OpenAI are discussing a potential financing agreement to help the ChatGPT maker lease compute from a planned Ohio data centre, Bloomberg reported. According to Bloomberg sourcers close to the matter, Nvidia is helping OpenAI in its effort to lease a USD500 billion, 10-gigawatt hub that SoftBank is overseeing in Ohio. Nvidia could potentially provide a commitment of up to USD250 billion to the AI developer. Negotiations are in their early stages and could terminate or financing terms may change, Bloomberg sources said.
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Johnson & Johnson announced it has reached a proposed comprehensive resolution of its long-running ovarian talc litigation, following a pivotal court ruling that undermined the scientific basis of the remaining claims. The New Brunswick, New Jersey-based healthcare firm said the move comes after the MDL court recently found plaintiffs could not prove "specific causation" that J&J's talc products caused any individual claimant's ovarian cancer, a ruling that aligned with the company's position and prompted the court to order plaintiffs to show why their claims should not be dismissed. Under the proposed resolution, the company will commit USD5.5 billion in per-claim payments, with no more than USD3 billion payable in 2027 and no additional payments before 2028.
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LVMH reported stronger first half revenue as it expressed confidence in 2026 and left its dividend unchanged. The Paris-based fashion conglomerate reported first half revenue of EUR38.64 billion, up 2.9% from EUR39.81 billion a year ago. Revenue increased by 4% excluding the impact of the Middle East conflict, the company said. Net profit in the half was unchanged at EUR5.70 billion. Free cash flow increased slightly to EUR4.1 billion from EUR4.0 billion a year ago. Looking ahead, LVMH has said it remains confident in 2026 despite the uncertain geopolitical and economic backdrop.
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Cadence Design Systems raised full-year sales guidance for the second quarter in a row after reporting strong growth driven by "accelerating" demand for AI-driven products. The San Jose, California-based electronics and systems design company now expects full-year revenue of USD6.26 billion to USD6.34 billion, up from USD5.30 billion in 2025, and raised from between USD6.13 billion and USD6.23 billion. In May, the firm had lifted its outlook from between USD5.9 billion and USD6.0 billion. Cadence Design Systems reported net income of USD367.1 million in the three months ended June 30, more than double USD160.1 million a year prior. Diluted earnings per share jumped to USD1.33 from USD0.59. Non-GAAP diluted net income per share shot up 28% to USD2.11 from USD1.65. Revenue rose 23% to USD1.58 billion from USD1.28 billion
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Sika posted weaker financial results for the first half of 2026, but raised its full-year revenue outlook after securing market share gains. The Baar, Switzerland-based specialty chemicals company said net profit edged down 0.4% to CHF552.1 million in the six months ended June 30, approximately USD674.4 million, from CHF554.4 million in the same period a year earlier. Diluted earnings per share fell 0.6% to CHF3.43 from CHF3.45. Net sales declined 1.5% to CHF5.59 billion from CHF5.68 billion. Citing market share gains, Sika decided to lift its full-year guidance for revenue growth in local currencies to a 3-6% range from from 1-4% previously. However, Sika expects to report an earnings before interest, tax, depreciation and amortisation margin of 19.0% to 19.5% for the the full-year, down from prior guidance of 19.5% to 20%.
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Michelin posted a decline in its half-year revenue and earnings, though it reported operating income ahead of market expectations. The Clermont-Ferrand, France-based tyre manufacturer said revenue in the first half of 2026 fell 2.6% year-on-year to EUR12.69 billion, down from EUR13.03 billion and broadly in line with analysts' average forecast of EUR12.8 billion according to Reuters. Net income fell 8.8% year-on-year to EUR766 million from EUR840 million. Segment operating income, the combined profit of Michelin's main business divisions, fell to EUR1.45 billion, down 3.3% year-on-year from EUR1.5 billion and above analysts' expectations of EUR1.40 billion.
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Saipem reported an improved first half but revised 2026 guidance amid conflict in the Middle East. The Milan-based oilfield services provider reported first half revenue of EUR7.35 billion, up 1.9% from EUR7.21 billion a year ago. Adjusted earnings before interest and taxes climbed 9.4% to EUR836 million from EUR764 million. The adjusted Ebitda margin improved to 11.4% from 10.6%. The company's backlog declined to EUR29.86 billion at June 30 from EUR31.47 billion as of December 31. For 2026, Saipen now expects EUR15.5 billion in revenue, unchanged, and adjusted Ebitda of EUR1.75 billion, cut from EUR1.9 billion expected initially, due to the Middle East conflict as well as the deconsolidation of the shallow water drilling business after the closing of the disposal.
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Renault disputed wrongdoing regarding its emission control systems as a judicial investigation is referred to criminal court in France. The investigation and upcoming criminal trial concerns older-generation diesel vehicles, which are accused of being designed to cheat clean air laws, according to Le Monde. "The operating limits of the emission control systems strictly reconcile emissions reduction with driver safety," the Boulogne-Billancourt, France-based automotive group said. "Renault Group will defend its innocence, as well as the professionalism and ethics of its 100,000 employees, before the criminal court," added Renault. The company will face a criminal trial on aggravated fraud charges, with Le Monde noting that the first procedural hearing is scheduled for April 2027.
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Whitehaven Coal reported a steady quarterly and annual performance, with output and sales landing at the top end of guidance. The Sydney-based coal producer said managed run of mine coal production in financial year 2026 ended June 30 rose 2.9% to 40.3 million tonnes from 39.1 million tonnes a year earlier, while fourth quarter production increased 1.3% to 10.7 million tonnes from 10.6 million tonnes in the same period a year ago. Annual managed sales of produced coal grew 8.3% to 32.7 million tonnes from 30.2 million tonnes, while quarterly sales climbed 5.3% to 7.8 million tonnes from 7.4 million tonnes.
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IGO reported higher revenue in the final quarter of financial year 2026 driven by strong copper sales. The Perth, Australia-based exploration and mining company said sales revenue in the fourth quarter ended June 30 rose 11% to AUD141.4 million, around USD98.9 million, from AUD126.9 million in the same quarter a year ago. In the year ended June 30, sales revenue dropped 12% to AUD448.9 million from AUD512.5 million a year ago. Earnings before interest, tax, depreciation and amortisation fell 22% to AUD117.6 million compared to AUD151.1 million the previous quarter.
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Viva Energy reported mixed second quarter fuel sales, with overall volumes easing while first half earnings strengthened. The Melbourne, Australia-based company making, importing and supplying fuels and lubricants said total group sales volumes in the second quarter ended June 30 fell 2.0% to 4.19 billion litres from 4.28 billion litres in the same quarter a year earlier. In the first half of 2026, total group sales volumes increased 1.5% to 8.49 billion litres from 8.37 billion litres.
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Iluka Resources reported a steep fall in quarterly mineral sands production, even as sales rose and cash flow strengthened. The Perth, Australia global producer of mineral sands and critical minerals said total production in the three months to June 30 dropped 61% to 58,000 tonnes from 149,700 tonnes in the same period a year prior. Total sales, however, increased 19% to 157,400 tonnes from 132,700 tonnes.
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Deterra Royalties posted lower quarterly royalty revenue despite record production and higher sales volumes. The Perth, Australia-based diversified resource royalty company said total royalty revenue in the three months to June 30 fell 20% to AUD64.1 million, approximately USD44.8 million, from AUD80.4 million in the same period a year prior. Deterra said MAC delivered "record" production of 39.7 million wet metric tonnes, up 2.9% from 38.6 million wet metric tonnes a year ago. MAC sales increased 6.8% to 37.5 million dry metric tonnes from 35.1 million dry metric tonnes.
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Genesis Minerals reported a solid quarterly and annual operational and financial performance. The Perth, Australia-based gold producer said gold production in financial year 2026 ended June 30 climbed 33% to a "record" 285,402 ounces from 214,311 ounces a year ago. In the June quarter, gold production was 70,766 ounces, up 15% from 61,469 ounces in the same quarter in financial 2025. Gold sales for the quarter was 77,797 ounces at an average price of AUD6,175 per ounce, generating a revenue of AUD480.4 million.
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Bellevue Gold reported stronger full-year and fourth-quarter gold production in financial year 2026. The Perth, Australia-based miner operates the high-grade Bellevue Gold project in Western Australia. The company said gold production increased by 14% to a record of 143,539 ounces in the financial year ended June 30 from 126,139 ounces in the previous year, hitting the top half of the guidance range of 130,000 to 150,000 ounces. Gold revenue rose 14% to AUD576.3 million from AUD505.8 million, with the realised gold price 4.4% higher at AUD4,058 per ounce from AUD3,886 per ounce previously.
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Web Travel said it expects double-digit revenue growth in the first half of financial year 2027 and announced plans to launch a new share buyback programme. The Melbourne, Australia-based company has decided to launch an on-market share buyback of up to a maximum value of AUD90 million, or around USD62.9 million. In euro functional currency, the company expects WebBeds revenue to grow 11% to 15% year-on-year in the six months ending on September 30, with the total transaction value margin improving to around 6.7% from 6.5% in the first half of the previous financial year. Web Travel said group underlying earnings before interest, tax, depreciation and amortisation is on track to be between AUD80 million and AUD86 million, compared to AUD81.7 million previously.
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By Judy Amaca, Alliance News reporter Asia-Pacific
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