WEEKLY MARKET REVIEW

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

Weekly Market Review: 06th July 2026

The Week in Numbers

Equity Markets

Equity Indices	Value	Weekly Change	YTD Change
S&P 500	7,483.24	+2.14%	+9.32%
NASDAQ	25,832.67	+2.64%	+11.15%
EuroStoxx50	6,417.16	+3.11%	+10.80%
EuroStoxx600	652.77	+2.65%	+10.20%
FTSE 100	10,669.91	+1.74%	+7.40%
ISEQ	13,927.15	+0.15%	+6.30%

Central Bank Interest Rates

Interest Rate	Current Rate	Direction	Rate Change
FED	3.75%	—	0
ECB	2.40%	—	0
BOE	3.75%	—	0

Government Bonds

Fixed Income	Yield	Weekly Change	YTD Change
US 10YR	4.48	+2.26%	+6.91%
US 2YR	4.13	+0.63%	+19.05%
German 10YR	2.91	+1.85%	+0.33%
UK 10YR	4.79	+0.72%	+5.52%
Irish 10YR	3.09	+1.78%	+0.79%

Foreign Exchange Currency Movements

FX	Value	Weekly Change	YTD Change
EUR/USD	1.143	+0.53%	-2.61%
EUR/GBP	0.856	-0.60%	-1.73%
GBP/USD	1.334	+1.17%	-0.91%

Key Events

08/07/2026 – FOMC Minutes
09/07/2026 – China Inflation Data

The Global Economy Through Two Different Lenses

In our latest Seaspray Private financial data insight we explore the two principal methods used to measure the size of the world’s economies and why they produce very different global rankings. Using the International Monetary Fund’s latest 2026 projections, we compare Nominal GDP and Purchasing Power Parity (PPP) to highlight how economic strength can be viewed through different lenses. We examine why the United States remains the world’s largest economy on a nominal basis, while China leads when measured by purchasing power, and explore India’s remarkable rise under the PPP measure. Understanding these differences provides valuable insight into global economic trends, emerging markets and the long-term opportunities shaping the world economy.

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

FINANCIAL HEADLINES

United States

The growth of AI in the US has had significant knock-on effects across other industries, particularly the power and utilities sector. The industry is experiencing a record wave of dealmaking, with $203.0bn in mergers and acquisitions announced during the first five months of 2026 alone. This represents an increase of more than 40% compared with the full-year 2025 total of $141.7bn. In total, 77 power and utilities deals have been announced so far in 2026, with NextEra Energy’s takeover of Dominion representing the largest transaction by enterprise value. The surge in dealmaking comes as major US utility providers compete to secure the capital needed to meet the seemingly insatiable demand for electricity from hyperscale data centres, each of which can consume as much electricity as around 100,000 households. Much of this additional electricity demand is expected to be met by renewable energy sources. The International Energy Agency forecasts that two-thirds of new US electricity generation capacity added in 2026 will come from solar and wind energy.

Europe & UK

In Europe, inflation in the Eurozone eased to 2.8% in June, down from 3.2% in May and below Reuters’ forecast of 3%. The latest reading is also welcome news for the European Central Bank, which only recently raised interest rates to combat elevated inflation. Despite the deceleration, inflation remains above the ECB’s 2% target, with futures markets continuing to price in a further quarter of a percent interest rate increase before the end of the year.

In the UK, Lloyds Banking Group announced last week that it would discontinue the Halifax brand, bringing to an end 173 years of its presence on British high streets. Halifax branches will be rebranded as Lloyds Bank branches over the course of the year, marking the disappearance of a brand that originated in West Yorkshire in 1853. Halifax became the world’s largest building society in 1928 before almost collapsing during the Global Financial Crisis, after which it was acquired by Lloyds Banking Group.

Ireland

Housebuilding in Ireland increased by nearly 33% in the first quarter of 2026 compared with the same period in 2025, with more than 7,800 homes completed. If the current pace of construction continues, Ireland is on course to deliver 40,000 new homes in 2026.

Elsewhere, the IDA announced that it secured 190 investments into Ireland during the first half of 2026, an increase of 9% compared with 2025. These investments are expected to create more than 10,000 jobs across the Irish economy. Chief among them was Novo Nordisk’s €423m investment in its Athlone, Co. Westmeath, facility.

Asia-Pacific

Samsung and SK Hynix announced last week that they, alongside the South Korean government, will invest $590bn to build new chipmaking facilities in parts of South Korea classified as underdeveloped. Each company will construct two semiconductor fabrication plants in the south-west of the country, while a separate chip packaging cluster will be developed in the Midlands.

In China, the country’s largest initial public offering (IPO) of 2026 took place last Thursday, with China Resources New Energy listing on the Shenzhen Stock Exchange. Shares in the renewable energy group, which operates solar and wind power facilities across more than 30 provinces, surged by as much as 198% before closing around 150% higher, prompting trading to be temporarily halted.

ASSET CLASS REVIEW

Equities

In the United States, equity markets moved higher last week as investor sentiment shifted back towards risk assets, supported by lower energy prices and renewed optimism surrounding the AI trade following a period of heightened volatility. After a strong start to the week, with the S&P 500 rising 1.2% and the NASDAQ gaining more than 2% on Monday, markets continued to rally on Tuesday and Wednesday. There was some divergence in performance midweek, with semiconductor stocks coming under pressure. Micron and SanDisk both fell 8% on Wednesday, while the broader market continued to advance, led by gains across the Magnificent Seven. Meta was among the standout performers, rising more than 10% after announcing plans to expand its cloud computing business by offering customers access to both AI computing capacity and AI models. For the week, the S&P 500 and NASDAQ closed 2.14% and 2.64% higher, respectively.

In Europe, equity markets reached fresh record highs, supported by improving global risk sentiment and encouraging economic data from across the region. Companies in the semiconductor and data centre sectors posted strong gains, with ASML and Siemens rising 7.0% and 4.4%, respectively, on Wednesday alone. The broader Euro Stoxx 50 and STOXX Europe 600 also benefited from softer-than-expected inflation data released on Tuesday. Inflation across the Eurozone slowed to 2.8%, while preliminary readings from Germany, France and Italy all came in below expectations, raising hopes that inflationary pressures have eased following the recent conflict in the Middle East. For the week, the Euro Stoxx 50 and STOXX Europe 600 closed 3.11% and 2.65% higher, respectively.

In the United Kingdom, the FTSE 100 traded within a narrow range last week, with energy stocks underperforming as oil prices continued to decline. Shell and BP were among the weakest performers, while Associated British Foods also fell after warning that its sugar division would face increasing pressure as a result of the conflict in the Middle East. However, financials, and defence stocks in particular, helped support the index, with BAE Systems, Babcock and Rolls-Royce among the strongest performers. The FTSE 100 finished the week 1.74% higher.

Bonds

In the US, bond yields moved higher midweek as strong labour market data pointed to continued economic resilience and reinforced the Federal Reserve’s hawkish stance. Job openings rose to a two-year high of 7.59 million in May, despite the conflict with Iran. Meanwhile, private sector payrolls increased by 98,000 in June, below expectations but still indicative of a healthy labour market. A resilient labour market allows the Federal Reserve to remain focused on curbing inflation as part of its dual mandate, reducing the immediate need to lower interest rates. In the UK, the 10-year gilt yield rose to 4.79% after Bank of England Governor Andrew Bailey ruled out near-term interest rate cuts during the ECB’s Sintra Forum.

Commodities

Oil prices fell to their lowest levels since late February last week, with Brent crude futures declining to around $71 per barrel and remaining near that level for most of the week. As oil shipments continued to pass through the Strait of Hormuz, the US and Iran continued negotiations in Qatar despite occasional escaltaions in tensions between the two sides. Oil exports from the region have already returned to near pre-war levels, with UAE exports back to normal operating levels. Meanwhile, Iranian oil exports surpassed 40 million barrels after the US lifted its naval blockade.

In metals, gold prices once again fell below $4,000 per ounce last week, reaching their lowest level in eight months before recovering later in the week as inflation concerns eased. Although US labour market data came in stronger than expected, futures markets continue to price in a 60% probability of an interest rate hike before the end of the year.

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