UK online trading provider; spreads and CFDs
Micron has reported blockbuster fiscal third-quarter results — $41.46bn revenue and $28.24bn net income — and has forecast roughly $50bn for the current quarter. The results have pushed Micron above a $1tn market value, restarted buying in memory stocks and have sharpened concerns that soaring AI data‑centre demand is forcing consumer electronics makers, including Apple, to prepare price increases.
The leadership race has intensified as Andy Burnham is seen as the frontrunner to become prime minister, with markets seeking stability. Economists warn that the next chancellor will shape bond markets and fiscal policy, while Burnham pledges to follow fiscal rules and reduce bills. The City remains anxious about potential changes in taxation and public spending.
The leadership contest accelerates as Andy Burnham is expected to enter the race to replace Sir Keir Starmer, with markets watching fiscal policy and the chancellor pick as gilts yields rise and sterling fluctuates.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
The yen has weakened to multi-decade lows as US rates remain higher than Japan's. Intervention is being considered, but the long-running carry trade and energy costs keep downward pressure on the currency. Markets are watching potential official action and the broader implications for Japan's economy and global markets.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
AstraZeneca has been linked to talks with Bristol Myers Squibb on a potential mega-merger. Reports say talks are ongoing and could form one of the industry’s largest deals, but regulatory hurdles and integration risks loom large.
July PMI data show the UK construction sector is stabilising after a downturn, with PMIs indicating slower contraction across all subsectors. Housebuilding led the improvement, while civil engineering remains the weakest link. New orders declined at the slowest pace since 2025, and input costs cooled.
Global markets have steadied as US retail sales disappointed expectations but inflation trends remain subdued. European shares edge higher on energy-price easing, while oil prices pull back slightly amid a holiday lull. The day closes with investors weighing the timing of the next Federal Reserve move.
Shein has floated on the Hong Kong stock exchange at HK$48.56 a share, valuing the company at about US$26.3bn and raising roughly HK$13.6bn. Shares plunged as much as 10% on open before recovering to close marginally below the offer price. The IPO follows failed plans to list in New York and London and rising trade and regulatory costs that have squeezed margins.