Business
Tech selloff weighs on European shares ahead of ECB meeting next week
The pan-European STOXX 600 index fell 0.34% to 641.53 points. It was largely unchanged for the week.
A rise in oil prices stemming from the escalating Middle East conflict, and lacklustre reaction even to strong earnings this week, have complicated the market backdrop.
Investors had hoped that solid results would direct attention away from geopolitics and towards corporate fundamentals, potentially providing momentum for equities.
However, tech stocks slipped 3.27% this week even after ASML, the dominant supplier of equipment needed to make high-tech computer chips, raised its 2026 sales forecasts.
The subdued reaction underscores the high bar companies have to clear to lure investors into equities, at a time when sentiment towards major AI winners has soured and uncertainty over inflation persists.
The tech-heavy Nasdaq dropped 0.98%. Taiwanese equities, a major AI beneficiary in the emerging market universe, dropped 6.47%.
WAR RAGES ON IN MIDDLE EAST
Meanwhile, the U.S. struck bridges and an airport in Iran on Friday, while Tehran responded by hitting a power and desalination plant in Kuwait, one of the Gulf countries that host U.S. airbases. “There is clearly a real disconnect between what Iran believes it can achieve and what the U.S. wants. That is causing some dissonance in markets,” said Steven Schoenfeld, CEO of MarketVector Indexes.
FOCUS TURNS TO ECB NEXT WEEK
Rising energy prices have also sharpened the focus on the European Central Bank, which is widely expected to keep interest rates unchanged on July 23. Investors still expect a second rate hike later this year.
Utilities stocks rose 1.55% and were the biggest gainers on the European benchmark on Friday, while luxury were the best-performing sector for the week.
Britain’s Burberry slipped 6.38% after the luxury group said the Middle East conflict had weighed on tourist spending in Europe.
Saab rose 9.73% after the Swedish defence and aerospace group reported a bigger-than-expected increase in second-quarter operating profit.
Among other top movers, Norwegian recycling technology company Tomra Systems jumped 11.87% after upbeat quarterly results, while Swedish tech company Lagercrantz slid 7.09% on downbeat quarterly core earnings.
Volvo Group dipped 0.64% even after theSwedish truckmaker reported a 35% jump in second-quarter profit.
Private equity firm EQT gained 11.02%. Australia’s Perpetual rejected a sweetened A$2.5 billion ($1.75 billion) takeover proposal from the Swedish company.
Business
Calls for guidance to help Jersey families claim back childcare costs
More guidance for parents claiming back money from the government’s childcare funding scheme is needed, the head of the Jersey Child Care Trust (JCCT) has said.
In February, the government said parents of a child eligible from January to August 2026 could apply for up to £4,180, and parents of children eligible for a full school year from the 1 September 2026 would be able to apply for up to £6,270.
But some families have had problems claiming money back from the States after being told they had provided ‘invalid receipts’ for childcare.
JCCT CEO Fiona Vacher said as it was a pilot scheme, it was likely problems would be discovered.
She said: “We understand that there have been some cases through our contacts with parents and I think that’s around parents submitting bills rather than receipts.
“We knew there would be difficulties and I know the government is just responding to that.”
Vacher said the government could provide “a bit more information for parents about how they and what they submit”.
Deputy Catherine Curtis, the Minister for Education and Lifelong Learning, said 537 applications had been approved for 409 families with £1.4m paid out since the scheme began.
She added that no formal complaints had been recorded but that feedback was “being reviewed to enable continuous improvement”.
Business
Bitcoin trapped in $62.5K-$65.5K range: Live levels

Bitcoin trapped in $62.5K-$65.5K range: Live levels
Business
ACCO Brands Stock: The Pros Outweigh The Cons (NYSE:ACCO)
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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Popular garlic powder recalled over bacteria concerns
FOX Business anchors discuss products they believe are widely overpriced. Answers include bottled water, Dyson hair dryers, luxury handbags, and McDonald’s value meals, sparking a lively debate about quality versus cost among the panel.
A popular garlic powder sold at Dollarama stores across Canada is being recalled due to potential microbial contamination, health officials announced this week.
The Canadian Food Inspection Agency (CFIA) issued the recall Wednesday for Heavenly Spices garlic powder sold at Dollarama stores nationwide.
The product is being recalled because it may be contaminated with Bacillus cereus, a bacterium that can cause nausea, vomiting, abdominal cramps and watery diarrhea, according to the U.S. Food and Drug Administration.
“Do not use, sell, serve or distribute the affected product,” the CFIA said in its recall notice.
TAYLOR FARMS PREPARING RECALL, DENIES BRANDED SALADS TIED TO OUTBREAK

The Canadian Food Inspection Agency recalled Heavenly Spices garlic powder sold at Dollarama stores nationwide due to potential bacterial contamination. (Andrej Ivanov/Bloomberg via Getty Images / Getty Images)
The agency classified the recall as a Class 2 event, meaning there is a moderate risk that consuming the product could cause short-term or non-life-threatening health effects.
A Dollarama spokesperson told CTVNews.ca on Friday that customers who purchased the product should throw it away.
“Customers can also contact Dollarama Customer Service directly for a $2.00 e-gift card as a replacement,” the spokesperson said.
The recalled garlic powder was sold in 70-gram containers in stores and online.
GENERAL MILLS PULLS MORE THAN 735,000 PILLSBURY ROLLS FROM SHELVES OVER POSSIBLE GLASS CONTAMINATION

The Canadian Food Inspection Agency recalled Heavenly Spices garlic powder sold at Dollarama stores over concerns it may be contaminated with Bacillus cereus. (iStock)
According to the FDA, symptoms of Bacillus cereus infection typically last between 24 and 48 hours. The bacterium is commonly found in meat, stews, gravies, vanilla sauce, and cooked rice that has been improperly refrigerated or left at room temperature.
The garlic powder is the latest food product to be pulled from store shelves.
Earlier this week, the FDA announced that General Mills was recalling more than 735,000 packages of Pillsbury bread products over concerns they may contain glass.
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Heavenly Spices garlic powder is being recalled after Canadian health officials warned the product may be contaminated with Bacillus cereus, a bacterium that can cause foodborne illness.
Bloomberg News also reported that fresh produce supplier Taylor Farms is preparing a recall tied to ingredients linked to a multistate Cyclospora outbreak, though the company has said its branded salad products are not associated with the illnesses.
Business
Zeta Global Stock: One Of A Small Number Of AI Stocks Actually Delivering (NYSE:ZETA)
Investing wisely does not have to be rocket science. It is about discipline and running the numbers. You don’t have to be like a grandmaster chess player playing the game twenty moves ahead of your opponent, you just need to understand how the pieces work.
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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Sphere Entertainment: Too Many Unanswered Questions
Sphere Entertainment: Too Many Unanswered Questions
Business
HPI: Fiscal Dominance Could Challenge Ability To Deliver Attractive Real Returns
HPI: Fiscal Dominance Could Challenge Ability To Deliver Attractive Real Returns
Business
Gold set for biggest weekly drop since early June on inflation, rate-hike worries
The U.S. dollar rose for a second straight session, making bullion more expensive for overseas buyers. “The main drivers of the selloff in gold have been a stronger U.S. dollar and higher global inflation fears, which have sent global interest rates higher,” said Chris Gaffney, president of world markets at EverBank. The U.S.escalated its renewed bombing campaign on Iran, hitting bridges and an airport. Tehran responded with strikes on U.S. bases across the Middle East. Brent crude oil prices were up around 16% for the week following the attacks.
Bullion has fallen about 25% since the U.S.-backed war with Iran began in late February, pressured by expectations that war-driven inflation could keep interest rates higher for longer.
While gold is seen as a hedge against inflation, higher rates typically weigh on the non-yielding metal. “Recent data have decreased the probability of a rate hike at the next FOMC meeting, but global interest rates continue to climb and the recent increase in oil prices could drive the Federal Reserve to take a more hawkish stance on U.S. interest rate policy,” Gaffney said. Traders see about a 58% chance of a U.S. interest rate hike in September, according to the CME FedWatch Tool. On Thursday, Fed Vice Chair Philip Jefferson suggested he would be open to raising rates if there was no near-term improvement in inflation.
However, “gold’s share in private portfolios remains low, and recent geopolitical developments, including Iran and broader tensions, may accelerate diversification beyond central banks to private investors,” Goldman Sachs said in a note. Spot silver rose 1% to $56.06, platinum dropped 1.4% to $1,595.64, and palladium was steady at $1,249.63. All three metals were headed for weekly losses.
Business
Oil settles up on renewed US-Iran hostilities and threat of Red Sea closure
Brent crude futures settled $3.87, or 4.59%, higher to $88.10 a barrel, while U.S. West Texas Intermediate futures rose $3.54, or 4.48%, at $82.49. Both were at their highest since mid-June.
For the week, both benchmarks gained about 16%, with Brent on track for a third consecutive weekly gain and WTI set for its second.
The two foes expanded fighting on Friday, with the U.S. striking bridges and an airport in Iran and Tehran hitting a power and desalination plant in Kuwait. Iran said it launched more strikes on U.S. facilities in the Middle East, including the first direct attack in Syria, after a sixth straight night of U.S. strikes on Iranian military facilities.
“The market is reacting to the increasing hostilities between Iran and the United States that have culminated this week with nightly attacks on Iranian infrastructure and retaliation by Iran on its neighbors’ infrastructure,” said Andrew Lipow, president of Lipow Oil Associates. “If more tankers come under fire and become damaged, we’re going to see oil prices continue to move up as shipowners simply refuse to enter the Persian Gulf.”
The collapsed truce between the U.S. and Iran has resulted in a sharp decline in oil flows in the strait as Iran targets vessels transiting through it. Before the Iran war, about 20% of global oil supplies flowed through the waterway. Iran has pressed the Houthis to close the Red Sea route if the U.S. attacks Iran’s power infrastructure.
“Given that so much of Saudi Arabia’s exports have been redirected to the port of Yanbu via the East-West Pipeline to avoid Hormuz, any such development is a threat indeed,” Tamas Varga, analyst at PVM Oil Associates, wrote in a note. Saudi Arabia has diverted more than 70% of its normal daily crude exports to the Red Sea port of Yanbu since the beginning of the war. Shipments from Yanbu averaged 4 million barrels per day in recent weeks, up from around 973,000 bpd in the same period last year.
Qatar’s defence ministry said its armed forces thwarted an Iranian missile attack early on Friday and the interior ministry said a child was wounded by shrapnel resulting from interception operations.
In a different conflict zone, Ukraine’s military said it struck a Russian oil refinery in the Yaroslavl region on Thursday.
Business
Vista Energy, S.A.B. de C.V. 2026 Q2 – Results – Earnings Call Presentation (NYSE:VIST) 2026-07-18
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
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