Oil price slides as US and Iran pause fire; cancer treatments help AstraZeneca beat profit forecasts – business live | Business
Introduction: Oil price falls as US and Iran cease fire
Good morning; Welcome to our in-depth coverage of business, financial markets and the world economy.
Oil prices fell more than 5 percent this morning after the United States paused its attacks on Iran for a second night in a row, following advice from military officials. Donald Trump To stop the bombing campaign.
Brent crude oil, the international reference for oil, has now fallen by 5.3 percent to $91.68 per barrel, after hitting $100 last week.
While Trum is believed to be evaluating diplomatic and military options in the conflict with Iran, the Israeli leader also Benjamin Netanyahu He is expected to visit the White House on Tuesday.
Iran said on Sunday it would stop “retaliatory” attacks against US allies in the region.
jim reidrelated to German BankHe says that although the pause is not a formal ceasefire, both sides are presenting it as a “diplomacy opportunity.”
US officials, including the UN ambassador mike WaltzHe emphasized that all military options remain on the table and that President Trump is simply giving more space to negotiations. However, reports from New York Times And axios Some military officials have reportedly suggested that key objectives have been largely achieved, suggesting an active debate within the administration about both the effectiveness and costs of further strikes. Although the situation remains highly volatile, the market is viewing the recession as a positive development for now.
The main market risk remains the energy and transportation front. Traffic via Hormuz has been severely disrupted as the conflict expands towards the Red Sea, where Iranian-backed Houthi forces reportedly launched missile and drone attacks on Saudi energy infrastructure around Jizan and Yanbu over the weekend, prompting Saudi retaliatory strikes. This increases the possibility of simultaneous disruption of both the Gulf and Red Sea export routes. So it’s a welcome pause for the main actors, but a fragile one, especially as the side battles continue.
Somewhere else this morning AstraZeneca reported better-than-expected second-quarter profits, driven by strong growth in cancer treatment sales.
Its earnings rose 18% to $2.63 (£1.97) per share in the three months ending June, while total revenue rose 5% at constant currency to $15.38bn.
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important events
energy companies blood pressure And Shell They were the worst performers on the FTSE 100 this morning, with their shares down 3.8% and 2% respectively due to the weak oil price. Overall, the energy sector decreased by approximately 2.6%.
JD Sports Shares in the fashion retailer were the best performer, up 3.6%. vodafone Its shares are in second place, up 3% following this morning’s upbeat quarterly update.
European stocks rise as US-Iran standoff sends oil prices lower
European stocks rose this morning as investors cheered the sharp decline in oil prices after the United States paused nearly two weeks of attacks on Iran.
Stoxx Europe 600, which tracks the continent’s largest companies, increased by 0.9%. Britain’s blue-chip FTSE 100 index was up 0.5%, the French Cac 40 index was up 1.1% and the German Dax index was up 1.5%.
Oil fell below $90, Eurozone and UK bond yields fell
The price of oil has fallen below $90 a barrel as investors focus on the lull in the fire between the US and Iran.
International benchmark Brent crude oil fell by 7.1 percent to $89.94 per barrel. Last week, that amount rose above $100 as the United States launched several consecutive nights of attacks against Iran and the Yemeni Houthi movement threatened to impose a naval blockade of Saudi Arabian ports.
But prices are falling today as the US pauses attacks on Iran for the second night in a row and on the advice of military officials Donald Trump To stop the bombing campaign.
Bond yields in Europe are falling due to low oil prices; While the Eurozone’s 10-year yields fell by approximately 3 basis points, 10-year bond yields in the United Kingdom decreased by approximately 5 basis points to 4.98%.
Susannah Sokakcibroker’s chief investment strategist Wealth Clublower gill efficiency relieves some of the pressure, he said Andy Burnham‘s new government.
This will be welcome, given the Prime Minister’s warnings that social care desperately needs reform to help save the NHS, while also acknowledging the relief bill should be dropped, with the focus turning firmly on the spending challenges facing the new government. There is still a distinct lack of detail on how he and his ministers will deal with the huge costs of welfare, and so investors in government debt appear determined to remain cautious with so much talk but little action on cutting government spending costs.
Elsewhere on the corporate front this morning, vodafone reported a 9.7% increase in revenue in the first quarter to 10.3 billion euros.
Services revenue rose 5% in the quarter ended June, compared with investors’ expectations for earnings of 4.6%. Management now expects adjusted earnings for the full year ending in March to reach somewhere between €13 billion and €13.3 billion.
In recent years, Vodafone has restructured its business, including selling its Italian and Spanish operations and its 50% stake in the Dutch joint venture, as well as merging with Vodafone. Fly Creating the UK’s largest mobile operator.
Earlier this month, French telecommunications billionaire Xavier Niel It became the largest shareholder of Vodafone by purchasing 16% of its shares for £4.4 billion.
The company is also fighting allegations, first reported in the Guardian, that the mobile phone group has “unfairly enriched” itself at the expense of many vulnerable small business owners by cutting commissions from franchisees who run high street stores.
DCC Energy agrees £5.75bn takeover
Another company was delisted from the London Stock Exchange this morning: DCC Energy Agreed £5.75bn takeover by private equity investors KKR And Energy Capital Partners.
Shareholders of the FTSE 100 energy distributor will receive £65.25 per share in cash, a proposed final dividend of 147.22 pence per share and a potential payout of up to £1.25 per share. DCC It could sell its technology unit for at least $800 million.
The deal represents a 24% premium to DCC’s share price at the end of April, before the consortium received its initial offer.
DCC president Mark Breuer said in a statement:
While the DCC Energy Board remains confident in its energy strategy and the associated 2030 Target announced in 2022, the Board believes that the Consortium’s offer represents an attractive opportunity for shareholders to crystallize cash value at an attractive premium to DCC Energy’s historical trading price.
“We are confident that the consortium will be strong stewards of DCC Energy’s 50-year legacy and will support the business in its next phase of growth.”
This is the latest in a long line of takeovers on the London stock exchange. Mitie, intertek, easyJet, Beazley And Schroders all agreed to take over this year.
Shein suffered a $99 million loss ahead of its IPO
Chinese fast fashion giant Shein It reported a net loss of $99 million (£74.1 million) in the first quarter after the removal of import duty exemptions on small packages in the US triggered a slowdown in sales.
The figures were disclosed as part of the company’s pre-IPO paperwork as it prepares to list on the Hong Kong stock exchange.
This showed the business made a loss of $99 million in the first quarter of 2026, compared to net income of $395 million in the previous year.
The US lifted tariff exemptions for small packages in May. Shein said in its filing that it was “pursuing a wide range of options, including increasing our prices in the U.S. market to offset some of the increased costs.”
The European Union this month also imposed a €3 fee on low-value e-commerce imports, in a move designed to defend European businesses against what the Union calls “unfair competition” from China.
Shein has seen a sharp decline in its valuation in recent years as the pandemic-era boom in online shopping ends. The company is currently reportedly seeking a valuation between $40 billion and $50 billion in 2022, compared to reports of a potential valuation of $100 billion.
Introduction: Oil price falls as US and Iran cease fire
Good morning; Welcome to our in-depth coverage of business, financial markets and the world economy.
Oil prices fell more than 5 percent this morning after the United States paused its attacks on Iran for a second night in a row, following advice from military officials. Donald Trump To stop the bombing campaign.
Brent crude oil, the international reference for oil, has now fallen by 5.3 percent to $91.68 per barrel, after hitting $100 last week.
While Trum is believed to be evaluating diplomatic and military options in the conflict with Iran, the Israeli leader also Benjamin Netanyahu He is expected to visit the White House on Tuesday.
Iran said on Sunday it would stop “retaliatory” attacks against US allies in the region.
jim reidrelated to German BankHe says that although the pause is not a formal ceasefire, both sides are presenting it as a “diplomacy opportunity.”
US officials, including the UN ambassador mike WaltzHe emphasized that all military options remain on the table and that President Trump is simply giving more space to negotiations. However, reports from New York Times And axios Some military officials have reportedly suggested that key objectives have been largely achieved, suggesting an active debate within the administration about both the effectiveness and costs of further strikes. Although the situation remains highly volatile, the market is viewing the recession as a positive development for now.
The main market risk remains the energy and transportation front. Traffic via Hormuz has been severely disrupted as the conflict expands towards the Red Sea, where Iranian-backed Houthi forces reportedly launched missile and drone attacks on Saudi energy infrastructure around Jizan and Yanbu over the weekend, prompting Saudi retaliatory strikes. This increases the possibility of simultaneous disruption of both the Gulf and Red Sea export routes. So it’s a welcome pause for the main actors, but a fragile one, especially as the side battles continue.
Somewhere else this morning AstraZeneca reported better-than-expected second-quarter profits, driven by strong growth in cancer treatment sales.
Its earnings rose 18% to $2.63 (£1.97) per share in the three months ending June, while total revenue rose 5% at constant currency to $15.38bn.
