Latest market news
Independent UK financial coverage with full source attribution.
US strikes on Iran; Brent crude surges, equities and dollar move
Brent crude rose ~$4 to settle above $76, reaching $80 intraday; WTI rose 6% to $74.90. The Dow fell 1.09%, S&P 500 posted minor losses, FTSE 100 and Nikkei fell, Treasury yields rose 5bp to 4.58%, and the DXY strengthened.
Macron visits Syria in first trip by an EU head of state since Assad fell
Emmanuel Macron arrived in Damascus on 6 July 2026 for a two-day state visit, accompanied by the CEOs of TotalEnergies and CMA CGM, with Syrian reconstruction among the key themes.
Trump spoke separately with Putin and Zelenskyy on 6 July 2026
US President Trump held separate calls with Russian President Putin and Ukrainian President Zelenskyy on 6 July 2026, coinciding with Ukrainian strikes on Russian targets and a Russian barrage on Kyiv. A subsequent Trump-Zelenskyy meeting was announced for the NATO summit in Ankara, Turkey.
Ukraine drones strike St Petersburg oil terminal and port
Ukrainian drones hit an oil terminal in St Petersburg's Kirovsky district and the port of Vysotsk overnight on 4 July 2026, with 72 drones shot down across the region, Russian officials said.
Trump ends USMCA trilateral framework; CAD, MXN, Ford, GM affected
President Trump announced on 1 July 2026 that the US will not renew USMCA, pursuing separate bilateral agreements with Canada and Mexico instead; the Canadian dollar, Mexican peso, Ford (F), and General Motors (GM) were among the instruments and companies named in connection with the shift.
US-Iran Doha talks announced after Strait of Hormuz military clashes
Trump announced via Truth Social on 29 June 2026 that US and Iranian delegations would hold indirect talks in Doha following weekend military clashes in the Strait of Hormuz; WTI crude was reported in connection with the Hormuz shipping disruption.
US-Iran ceasefire reports; S&P 500 and Nasdaq 100 futures gained
S&P 500 futures (ES) and Nasdaq 100 futures (NQ) rose on 28 June 2026 following reports that the US and Iran remained within an existing ceasefire framework, avoiding further military escalation.
Venezuela earthquake kills ~1,500; PDVSA infrastructure disruption reported
A 28 June 2026 earthquake in Venezuela left approximately 1,500 dead and 50,000 unaccounted for, with La Guaira state identified as the worst-affected area. PDVSA and Vermilion Energy (VET) were reported as holding energy infrastructure and upstream assets in the affected country.
China blacklists 20 Japanese entities including Mitsubishi Heavy, Komatsu
China's commerce ministry added 20 Japanese entities to its dual-use export control list on 29 June 2026, including Mitsubishi Heavy Industries (8058.T), Mitsubishi Electric (6752.T), and Komatsu, restricting their access to Chinese-supplied materials.
Trump threatens 100% tariff on countries with digital services taxes
President Trump vowed on Truth Social to impose an immediate 100% tariff on goods from any country that levies a digital services tax on US companies, saying the measure would supersede existing trade deals.
Israel and Lebanon sign US-brokered framework deal
Israel and Lebanon signed an initial trilateral framework agreement at the US State Department on June 26, 2026, with Secretary of State Marco Rubio presiding and announcing $100 million in humanitarian aid.
Greek national charged in UK with assisting Iran intelligence against journalist
Ioannis Aidinidis, 46, was charged under the National Security Act 2023 over the alleged targeting of a UK-based journalist at Iran International.
Judge blocks Trump's $1.8bn Anti-Weaponization Fund amid legal challenges
A federal judge in Virginia temporarily barred the Justice Department from operating or disbursing money from the $1.776bn fund, with a follow-up hearing set for 12 June.
Oil drops 5% on US-Iran deal hopes; gold, Asian equities rally
Twin magnitude 7.2 and 7.5 earthquakes strike Venezuela; 164 killed
Two earthquakes of magnitude 7.2 and 7.5 struck 160 km west of Caracas on 25 June 2026, killing at least 164 and injuring ~1,000. Venezuela declared a state of emergency; PDVSA infrastructure and the Venezuelan bolívar were directly exposed to the disruption.
AI-backed PACs spend up to $29m in NY-12 primary won by Lasher
Micah Lasher won the NY-12 Democratic primary on 24 June 2026 after PACs linked to OpenAI and Anthropic spent tens of millions in a proxy battle over AI regulation.
Trump denies Hormuz tolls imposed; shipping traffic through strait rose modestly
Trump posted on 24 June 2026 denying any tolls, surcharges, or transit fees on Hormuz vessels, and denying U.S. funds had been released to Iran. Shipping traffic through the Strait reportedly increased modestly after the statements, though volumes remained below pre-war levels.
China bans rare earth exports to 10 US firms including MP Materials, UUUU
China imposed a full rare earth export ban on 10 US military-linked entities, including MP Materials (MP) and Energy Fuels (UUUU), on 22 June 2026, while China's finance ministry separately barred Chinese buyers from procuring goods from 46 additional US firms.
UK PM Starmer resigns; pound fell then rose, FTSE 100 up 0.50%
Keir Starmer announced his resignation as UK Prime Minister on 22 June 2026; sterling initially fell against major currencies before GBP strengthened against USD, the FTSE 100 rose 0.50% in premarket trading, and UK 10-year gilt yields fell 3.4 basis points.
US-Iran nuclear roadmap agreed; crude oil prices fell on sanctions waiver
Crude oil prices fell after the US waived Iran oil sanctions for 60 days and a Strait of Hormuz access agreement was announced; WTI and Brent were the benchmark contracts specifically referenced in coverage of the price decline.