S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketUK 10-year gilt yields hovered around 4.73%, staying close to two-month lows, as bond markets absorbed Andy Burnham’s speech. Burnham, the sole candidate to succeed Keir Starmer, vowed to significantly devolve fiscal powers from Westminster to local authorities if elected, while maintaining fiscal discipline. In his first major speech after winning a Commons seat, Burnham criticized the UK’s “stark imbalance” between national and local government resources, calling it a barrier to growth. However, he refused to disclose potential ministerial appointments, stating he would announce them only after the Labour leadership contest concludes. Investors are also evaluating the impact of an interim US-Iran peace deal and shifting interest rate expectations in both the UK and US. The reopening of the Strait of Hormuz has lowered oil prices and inflation forecasts, reducing bets on Bank of England hikes, while the US Federal Reserve’s hawkish stance supports US rate increase expectations.
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