European Commission approves recovery fund payments to Spain By Investing.com

• The Asian Banking & Finance Awards 2026 recently honored top banking leaders and institutions for driving innovation and growth across the Asian financial sector. • Key winners included China Bank Capital Corporation for Sustainability-linked Bond of the Year in the Philippines and CIMB for Corporate & Investment Bank of the Year in Malaysia.

• Asia-Pacific stock markets traded broadly higher on Friday, with South Korea's Kospi leading the surge with a 4.65% increase. • Other notable gains included Japan's Nikkei 225 rising 1.36%, Hong Kong's Hang Seng Index climbing 1.57%, and Australia's S&P/ASX 200 adding 1.39%.

• Asian markets rallied on Friday, driven by the Dow Jones Industrial Average closing at a new record high. • Key gains were seen in Hong Kong's Hang Seng (+1.7%), Australia's S&P/ASX 200 (+1.3%), and the Shanghai Composite (+0.7%), while Taiwan's Taiex fell 0.6%.

• Asian stock markets rebounded sharply on Friday, led by a strong rally in technology shares after a week of significant selling. • The recovery was driven by easing geopolitical tensions in Iran and growing investor optimism regarding potential Federal Reserve interest rate cuts.

• Aakash K Hindocha, Vice President, has issued stock buy recommendations for July 2, 2026. • The recommended stocks include REC, Oberoi Realty, and Home First Finance Company India.

• The European Public Prosecutor's Office (EPPO) has launched a financial investigation into a now-defunct far-right political group within the European Union. • Rather than focusing on political ideology or debate, the probe specifically targets the group's balance sheets and the potential misuse of funds.

• The UK service sector has experienced a contraction, driven by a combination of extreme heatwaves and disruptions linked to the conflict involving Iran. • Market trends show investors are rotating away from high-performing chip stocks and shifting capital toward "old economy" companies listed on the London stock market.

• The Euro zone services sector experienced a slowing contraction in June, according to the latest Purchasing Managers' Index (PMI) data. • This shift is attributed to a sharp cooling of inflation, which has helped stabilize the sector's performance.

• The FTSE 100 index surged 1.61% to reach 10,646.99, demonstrating strong bullish momentum and demand as prices hold above key moving averages. • Anton Kharitonov of Traders Union attributes the advance to technical factors, noting that the rise currently lacks supportive news to solidify long-term investor confidence.

• The Euro (EUR) fell nearly 0.5% to approximately 184.00 against the Japanese Yen (JPY) during Thursday's European trading session. • The decline follows a sudden surge in the Yen's value, which market analysts suspect is the result of direct intervention by Japanese authorities.

• The U.S. dollar is projected to end the week with a loss following the release of soft payroll data. • Despite the decline, the dollar remains supported by hawkish signals from the Federal Reserve, including warnings from Kevin Warsh regarding the bank's commitment to a 2% inflation target.