Global Stock Markets

CK Hutchison Holdings reported net income of HK$26.8 billion for the first half of the year, driven by asset disposals including the sale of UK infrastructure interests. The ports-to-telecoms conglomerate posted underlying profit of HK$12.6 billion, representing a 6.7 percent increase from the prior-year period. Revenue rose to HK$255.4 billion from HK$240.7 billion, supported by gains in its retail and ports divisions. The group recognized HK$17.8 billion in disposal gains from UK Rails and UK Power Networks, alongside a HK$2.2 billion non-cash write-off. Chairman Victor Li noted that the company maintained a disciplined capital allocation approach amid a turbulent global environment. The asset sales reduced net debt by 44 percent to HK$63.7 billion, while cash and equivalents climbed to HK$179 billion. The ports division grew revenue by 4 percent to HK$24.52 billion despite a 1 percent drop in overall throughput caused by the cessation of Panama operations. Meanwhile, the retail division increased revenue by 9 percent to HK$107.7 billion on solid health and beauty demand. The company declared an interim dividend of HK$0.75 per share.

Venezuela’s government and opposition have agreed to jointly pursue the return of 31 tonnes of gold held in the Bank of England’s vaults to finance reconstruction following June earthquakes. The gold is valued at approximately $4.4 billion at current prices and has remained frozen since 2018 due to the UK's recognition dispute over Venezuela's leadership. Acting President Delcy Rodríguez appealed directly to King Charles last month to release the reserves, which represent roughly one-fifth of Venezuela's last-reported 2018 holdings of 161 tonnes. While the joint push represents a rare moment of political cooperation following US-backed negotiations, recovering the bullion will require navigating years of complex legal battles over central bank board authority.

oilprice.com reports that the effective closure of the Strait of Hormuz has forced commercial ships around Africa, triggering a sharp surge in Somali piracy. Oil tankers including MT Honour 25, MT Eureka, and MT Asana were hijacked in the Gulf of Aden and off Puntland between April and July 2026 amid the Iran war, which has diverted Western naval resources away from the region. Yemeni militants are now coordinating directly with Somali networks, supplying advanced weaponry and GPS tracking devices in exchange for maritime chaos that distracts Western forces. Al-Shabaab provides onshore logistical backing and reportedly takes a cut of up to 30% from ransom payouts. Ransom demands have escalated significantly, with pirates demanding $10 million for the Eureka and $3 million for the Honour 25, following a $1.2 million to $1.5 million payout for the release of the Chinese fishing vessel Liao Dong Yu 578 in March 2026. Meanwhile, war-risk insurance premiums for commercial shipping in the Persian Gulf spiked by over 1,000%, surging from pre-conflict levels of roughly 0.15% to 0.25% up to 7.5% and 10% per voyage following the March closure of the Strait of Hormuz.