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India's benchmarks for stocks have their worst week in the last four months, as crude oil tops $100
Indian shares dropped on Friday as the Middle East crisis intensified, and oil prices rose to $100 per barrel. The'slide in 'IT company Infosys, and airline operator IndiGo, on the back of weaker than expected earnings, further weakened sentiment. By 10:00 a.m. IST the benchmark Nifty 50 index fell 0.95%, while the BSE Sensex dropped 1.03%, to 75,609.4. Both were on track for a fifth consecutive session of?losses. The team has lost between 2.8% and 3.2% in the last week, and is on track to have their worst performance for four months. Donald Trump, the U.S. president, promised a "major punishment" to Iran and its Houthi ally on Thursday. This came after Yemeni fighters attacked two?Saudi?oil tankers in Red Sea. The Middle?East conflict now extends to a?second main shipping chokepoint. India is at risk from higher oil prices, as it is the third largest crude importer/consumer in the world. Higher oil prices can cause inflation, increase the trade deficit, and squeeze growth and corporate margins. Sunny Agrawal is the head of fundamental analysis at SBI Securities. He said that investor sentiment was hurt by a sharp increase in crude oil prices this week. 15 of 16 major sectors posted losses. Small-caps and mid-caps fell by 1.3% and 0.1% respectively. Interglobe Aviation and Infosys both fell by about 2.2% following disappointing June quarter results. Oil marketing companies BPCL HPCL and Indian?Oil each fell by about 2% on the back of rising crude oil prices. Ramco Systems dropped 10% after reporting a quarterly profit decline. Cyient and Suryoday?Bank, which buck the trend, gained 2% and 7.5%, respectively, after posting a rise in their June quarter profits.
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India's benchmark stocks have their worst week in the last four months, as crude oil tops $100
Indian'shares' fell on Friday due to the rise in oil prices, which reached above $100 a barrel as the Middle East crisis intensified. By 9:40 a.m. IST the benchmark Nifty 50 index fell by 0.8% to 23,678, and the BSE Sensex dropped by 0.91%, to 75,700.9, putting both indexes on track for a fifth consecutive session of losses. This week they have lost between 2.7% and 3.1%, which is their worst performance for the last four months. U.S. president Donald?Trump on Thursday promised to "majorly punish" Iran and its Houthi ally after Yemeni 'fighters' attacked two Saudi oil tanks in the Red Sea. This extended the Middle East conflict to a second major shipping chokepoint. The rising oil price poses a major risk to?India as the third largest crude importer and consumer in the world. It will increase inflation, widen the trade deficit, and squeeze growth and corporate margins. Sunny Agrawal is the head of fundamental analysis at SBI Securities. She said, "The fears over Mideast tensions were further amplified by a sharp increase in crude oil prices this week, which hurt investor sentiment." Agrawal said that "Broader?markets are also under pressure. This reflects a cautious risk appetite in investments. Developments around the U.S. Iran Conflict and oil price movements will likely drive market direction over the short term." 15 of the 16 major sectors posted losses. Small-caps and midcaps both fell by 0.8%. After disappointing results for the June quarter, Infosys and Interglobe Aviation both fell by about 1.7%. Oil marketing -companies BPCL HPCL and Indian Oil each fell about 2% on the rise in crude oil prices. Ramco Systems' quarterly profit dropped by?10%. Cyient?and Suryoday Small Finance Bank, which buck the trend, gained 2% ad 7% respectively, after posting a rise in their June quarter profit.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. 74SOFTWARE, a software company, reported a first-half operating profit of EUR43.9 mln ($49.94 mln) on Thursday. The company also raised its revenue growth and margin forecast for the full year. AKWEL On Thursday, the automotive component supplier reported a -18.7% decline in revenue for the first half to EUR415 millions and confirmed its outlook through 2026. ARAMIS GROUP On Thursday, the used car retailer reported a third-quarter revenue totaling EUR 559.2 million. It also confirmed its 2026 goals. ARGAN/WDP: The property companies Argan in Belgium and WDP in the United States announced plans to merge on Thursday. They said that the new company would be worth EUR13billion ($14.8billion). ASSYSTEM On Thursday, the engineering group reported a first-half revenue totaling EUR328.5million and confirmed its 2026 goals. AUBAY On Thursday, the IT consulting firm reported second-quarter revenue of EUR173.6 millions and updated its 2026 target, now aiming to achieve revenues between EUR695-705million versus an earlier range of EUR676-690million, with a full-year profit between 9%-10%. BASSAC, the real estate and construction firm, reported a first-half net profit group share of EUR37 millions on Thursday. BURELLE SA, the automotive component holding company, reported a net profit group share of EUR65 millions for the first half. CARREFOUR, Europe's largest food retailer, reported Thursday better-than expected second-quarter sales. It benefited from improved momentum in France and?a return of expansion in Brazil. CASINO On Thursday, the French retailer announced that the credit committees for all of its bank creditors had given their consent in principle to improving the terms of the term loan B 'creditors security package' and waiving the requirement of a majority of two-thirds of the term loan B creditors to amend the safeguard plan. ECONOCOM Group The digital services company reported a first-half operating profit of EUR22.9 millions on Thursday, and confirmed its 2026 forecast. EXAIL Technologies The French underwater drone manufacturer posted on Thursday a 17% increase in revenue for the second quarter, driven by its Navigation and Maritime Robotics segment. FRANCE/TESLA - France is opposed to the use of Tesla TSLA.O Full Self-Driving Driver Assistance Software (FSD) in its current format on?roads within the European Union, citing safety concerns. GAZTRANSPORT AND TECHNIGAZ On Thursday, the French maritime technology company announced that GTT Marine would equip a fleet of LNG carriers chartered to Petronas using its suite of digital solutions aimed at improving vessel performance. GUERBET GUERBET, the medical imaging company, reported a first-half revenue on Thursday of EUR379.2 millions. The company expects revenue in 2026 to remain stable or even slightly decrease. It has a core earnings margin rate (EBITDA), restated at around 8%. HAVAS HAVAS, the advertising group, announced on Thursday that it had achieved an adjusted operating profit (EBIT) for the first half of EUR150 millions and has confirmed its guidance to 2026. IMMOBILIERE DASSAULT On Thursday, the real estate investment company reported a net result for the first half of EUR118.8 millions. LINEDATA SERVICES On Thursday, the company reported a first-half revenue figure of EUR82.4 Million and stated that it expected a lower profit for half-year results. LISI On Thursday, the fastener maker reported a first-half net income of EUR62.4m attributable shareholders. It also confirmed its 2026 goals. LNA SANTE On Thursday, the healthcare company reported an operating revenue of EUR 465.1 million for June, a result of organic growth of 7.5%, and confirmed their outlook to 2026. NEXITY On Thursday, the real estate company reported a net loss of EUR31million and confirmed their 2026 forecast. PIERRE ET VACACES On Thursday, the tourism company reported a third-quarter revenue totaling EUR487 millions and stated that it expected 2025/2026 EBITDA adjusted to EUR185 million in line with its previous growth predictions. PROXIMUS, the Belgian telecommunications firm, received approval on Thursday from the Belgian Competition Authority to expand and accelerate its Fiberklaar Partnership. ROBERTET, the flavors and fragrances company, reported a net revenue of EUR444m for the first half of this year. It also reaffirmed that it aims to achieve a 5% organic growth per annum at constant exchange rates. The company reported a net result for the end of June of EUR 9.5 million. STEF SA The temperature-controlled logistics provider on Thursday reported second-quarter revenue of EUR1.42 billion. UBISOFT The French video game maker, which has been releasing games since 1995, stuck to its targets after bookings for the first quarter came in slightly higher than expected. They also continued to reduce costs and provided limited details about their future releases. VOLTALIA, a renewable energy company, reported a second-quarter revenue of EUR198m and confirmed an EBITDA 'guidance' of EUR210-230m and n positive net result for 2026. It also revised its 2026 capacity target to 3.6 GW compared to 3.7 GW previously. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Indian shares drop as crude reaches $100; Infosys and IndiGo fall on subdued results for Q2
Indian shares?opened?lower on Friday. Pressured?by a rise in Brent crude?to over $100?per barrelas?the Middle?East crisis escalates. A slide in IT company Infosys, and airline operator IndiGo due to weaker than expected earnings further hurt the sentiment. By 9:15 a.m. IST the benchmark Nifty 50 slid 0.85% to 23,666.35, and the BSE Sensex fell?0.89%, to 75,708.19, putting both indices on course to suffer their fifth consecutive session of losses. U.S. president Donald?Trump on Thursday promised "major punishment" against?Iran, and its allied?Houthi fighters after they attacked two Saudi oil tanks in the Red Sea. This extended the Middle East conflict to a new major shipping chokepoint. India's economy, which is the third largest?crude importer/consumer in the world, faces a major risk from higher oil prices. They can exacerbate?inflation and widen?the trade deficit, while also squeezing corporate margins and growth. All 16 major?sectors posted losses. Small-caps and midcaps both fell by 0.6%. After disappointing?June-quarter results, Infosys has lost about 2% and Interglobe Aviation is down about 1.5%. Reporting by Vivek M and Bharathrajeswaran, Editing by Mrigank dhaniwala and Nivedita Bhattacharjee
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India's youth protest leaders will hold talks with the government, but protests continue
A spokesperson for the "cockroach" group in India said that leaders of the youth-led movement would meet with?the government this Friday to?resolve an issue over leaks of national examination papers, but they will not stop nationwide protests. The announcement came hours after Sonam Wangchuk, an activist who had been on a hunger strike for 26 days, ended it overnight. This raised hopes that both sides were moving towards a breakthrough. Tens of thousands angry youth had converged in Delhi to demand resignation of the Education Minister over the scandal. The protests are the largest youth challenge that Prime Minister Narendra modi has faced since he came to power in 2014. The opposition parties have also echoed these demands, and disrupted this week's monsoon session in parliament. Saurav Das, spokesperson for the CJP, told reporters that talks between government ministers and leaders of the Cockroach Janta Party would take place at a neutral location. He said, "We hope the government will come with an open mind and listen to the citizens of this country that have been on the road for so many years." "We will go into greater detail about our demands." We hope the government will pay attention to our concerns. Das added that the nationwide protests will continue. He said, "We will not back down." "Because real awakening begins at the grassroots, and that's what we need." DELHI METRO CLOSES STATIONS AGAIN CJP protests began as a satire online and only involved a few hundred youths when they first started. It has gained millions of supporters online, surprising the government. On Monday, tens of thousands marched to parliament against a ban and clashed violently with the police who repelled them with tear gas and slapped them with canes. On Wednesday night, violence was reported again when more than 10,000 protesters gathered in central Delhi at the Jantar mantar protest site. Analysts say that the rise in popularity of the movement is due to the frustrations felt by young Indians about issues like job shortages and exam leaks. They warn the government to take action. Authorities shut down 16 metro stations and curtailed mobile internet services in central Delhi, where protesters were camped. This was seen as a way to stop the demonstrations. Delhi Metro Rail Corp. announced that it would shut down 17 stations again from Friday morning early until further instruction. This is the third time in a week they have resorted to such a massive closure of the system, which is vital for the capital. Modi announced late Thursday that the federal cabinet would meet on Friday to discuss a draft amending laws to punish those responsible for exam paper leaks. The goal is to get this approved by Parliament as soon as possible. The protesters, however, have rejected the proposal. They say that the system of examination should be improved to prevent leaks from occurring in the first instance. The activist Wangchuk will also explain the details of his discussions with two ministers, in whose company he broke his daily fast. This is expected to be done via a video on Friday. Reporting by YP Rajesh; editing by Raju Gopalakrishnan.
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All 11 passengers on board the seaplane were accounted for after a crash in Washington State
The U.S. Coast Guard reported?on Thursday? that a Kenmore Air Seaplane in Washington State with 11 people aboard landed 'in an emergency situation near Sucia Island before catching fire. However, everyone was safe after the rescue operation. Kenmore Air, largest U.S. Seaplane carrier, reported that a de Havilland DHC-3 Otter aircraft, which had departed Lake?Union in Seattle, was involved an accident at Shallow Bay, near?Sucia Island, around 5:15 p.m. (0015 GMT). The Coast Guard released an image of the seaplane burning in the water near the crash site. Sucia Island is located in Washington's San Juan Islands, north of Seattle and near the Canadian border. Coast Guard officials said that the Coast Guard, Canadian and local responders and multiple assets were launched to aid in the rescue. The report added that "multiple patients are being transported locally to hospitals for medical evaluation and treatment." Kenmore Air reported that there were 10 passengers on board and 1 pilot. The airline reported that two injured passengers were taken to medical facilities in Bellingham, and another two were sent to Orcas island for treatment and evaluation. "Kenmore Air?is fully cooperating?with the investigating authorities?and will continue to provide verified information as soon as it is available," CEO David Gudgel said in an?statement. According to its website, Kenmore Air, founded in 1946, flies over 90,000 passengers per year on scenic, scheduled and charter flights. (Reporting and editing by Jamie Freed in Washington, Kanishka Singh)
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Indian shares open lower as crude oil tops $100
Indian shares will likely fall on Friday due to a deteriorating Middle East situation. Brent crude has now risen above $100 per barrel, the first time in two months. As of 7:12 am IST, the GIFT Nifty Futures were at 23,710, which indicates that the benchmark Nifty50 could open lower than Thursday's closing price of 23,869.6. Donald Trump, the U.S. president, promised on Thursday a "major military punishment" against Iran and its Houthi ally after two Saudi oil tanks were attacked by Yemeni fighters in the Red Sea. This extended?the Middle East conflict to a second important shipping chokepoint. India's oil price increases are a major?risk to the country, which is the third largest crude importer in terms of both volume and value. They can also cause inflation, increase trade gaps, and reduce corporate profits and growth. On Friday, the Trump administration will impose tariffs between 10% and 12.5% for goods imported from 60 countries, including India and the European Union, over accusations of lax enforcement of forced labor bans. This comes as a temporary global tariff of 10% expires. India's benchmarks fell about 2% this week, setting up their largest weekly?loss?in?over two month. Information technology giant Infosys shares will be under scrutiny after the company named Ashiss Dash its new CEO and lowered its revenue growth forecast for fiscal year 2027. India's largest carrier,?IndiGo, forecasts largely flat growth in capacity for the current quarter after posting a loss Thursday. This was due to soaring fuel costs and the Middle East conflict.
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Weekly oil price rises amid Red Sea attacks and Kazakhstan production cuts
The oil market was set to see gains this week as Houthi attacks on tankers in Red Sea raised concerns about the closure of a second shipping snare. Meanwhile, Kazakhstan temporarily reduced its output after its main export route had been forced to close. Brent futures eased?72 Cents, or 0.72 %, to $99.97 per barrel at 0126 GMT but remain on track for a 13.5% gain this week. West Texas Intermediate futures (WTI) fell 70 cents or 0.76% to $91.49 per barrel. They are on course for a weekly gain of 10.9%. Brent and WTI both rose by 7% on Thursday. This is the first time Brent has been above $100 since May, when Iran-aligned Houthis claimed they had struck two Saudi oil tanks in the Red Sea. Prices rose due to fears that the?attacks could lead to the closure the Bab el-Mandeb route. This shipping route controls access from?the Red Sea to?the?Indian Ocean, and is the second-most important oil channel behind the Strait?of Hormuz. U.S. president Donald Trump vowed that he would "hold Iran accountable" for any future attacks. Houthis, who are Iran-aligned, declared on Monday they would impose a naval blockade against Saudi Arabia. Saudi Arabia had diverted its oil through pipelines to avoid Iran's closure of Strait of Hormuz. After an interim ceasefire between Iran and the United States collapsed two weeks ago, Iran had pressed the Houthis to shut the Bab el-Mandeb?towards the Red Sea if they continued to attack the Iranian power infrastructure. In a recent note, Tony?Sycamore, IG'market analyst said that the noose surrounding global energy supply routes was tightening again. The Kazakhstan Energy Ministry said that oil companies temporarily reduced production on Thursday after suspected Ukrainian drone attacks forced the main Black Sea export terminal of the country to close. Sources in the industry said that on Tuesday, the Caspian Pipeline Consortium had stopped receiving oil from Kazakhstan. They suspended loadings due to attacks on tankers near the terminal. This?route is responsible for about 2% of the global?daily crude oil supply. The Kazakhstani energy ministry has not specified the extent of production reductions. However, one source claims that the output from the largest field in the country was reduced by more than 50%. (Reporting and editing by Kevin Buckland; Colleen howe)
Brent is hovering above $100/bbl and set to rise weekly on Middle East escalation
Brent oil prices hovered above $100 per barrel Friday, heading for a fourth week of gains. This was largely due to concerns over disrupted energy flow in the Red Sea as well as fears about escalation of the U.S. and Israeli war against Iran.
Brent futures rose 37 cents or 0.37% to $101.06 per barrel at 0330 GMT. The previous session, the price of a barrel had risen 7% over $100 for the first since May after Iran-aligned Houthis claimed they had struck two Saudi oil tanks in the Red Sea.
The contract was on track for a 14.6% increase this week.
West Texas Intermediate (WTI), futures are little changed, at $91.20 per barrel. This is their highest level since June 11, and they're on track to have an 11.8% increase in a week.
ING analysts wrote in a Friday note that "the potential supply disruptions now facing the market are greater than?at any other time during the conflict." Not only has oil flow through the Strait of Hormuz virtually dried up, but there are also clear risks for Saudi oil flowing from the Red Sea.
"Further escalated in the Gulf?and fears of an expanding conflict?are putting significant amounts of oil supply on risk."
According to Kpler's ship-tracking data, the number of tankers passing through the Strait of Hormuz dropped to one on Thursday – the lowest since May 7.
The Bab el-Mandeb shipping route controls access from the Red Sea to the Indian Ocean and is the second-most-important oil channel after the Strait of Hormuz.
Donald Trump, the U.S. president, vowed to "hold Iran accountable" for any future attacks.
Houthis, who are Iran-aligned, declared on Monday they would impose a naval blockade against Saudi Arabia. Saudi Arabia had diverted its oil through pipelines to avoid Iran's closure of Strait of Hormuz.
After an interim ceasefire between Iran and the United States collapsed two week ago, Iran had pressed the Houthis?to close the Bab el-Mandeb portal?to Red Sea if they continued to attack Iranian energy infrastructure.
On?Thursday the energy ministry of Kazakhstan said that oil companies had temporarily reduced production following suspected Ukrainian drone attacks which forced the closure of Kazakhstan's main Black Sea Export Terminal.
On Tuesday, sources in the industry said that the Caspian Pipeline Consortium had stopped receiving oil from Kazakhstan. They suspended loadings due to attacks on tankers at terminal. About 2% of the world's crude oil is transported via this route.
Kazakhstan's Energy Ministry did not specify the extent of production reductions. However, one source claimed that the country's largest field had reduced output by more than 50%.
(source: Reuters)