Slides

• Qualcomm shares fell 2.55% to $147.74 today, continuing a period of sustained downside momentum. • The selloff occurred despite the company's strategic push into AI compute and a new partnership with BMW. • Investors remain cautious due to persistent weakness in Qualcomm's core handset segment, which is offsetting growth initiatives.

• Indian shares are projected to open higher on Monday, potentially breaking a five-session losing streak. • The positive outlook is driven by a sharp decline in oil prices following a pause in strikes between the United States and Iran over the weekend. • GIFT Nifty futures were at 23,974.50 as of 7:59 a.m. IST, suggesting the benchmark Nifty 50 will open above its Friday close of 23,767.45.

Rolling coverage of the latest economic and financial newsYet another company has been picked off London’s stock exchange this morning: DCC Energy has agreed to a £5.75bn takeover by private equity investors KKR and Energy Capital Partners.Shareholders in the FTSE 100 energy distributor will receive £65.25 per share ‌in cash, a proposed ‌final dividend of 147.22p per share, and a potential payment of up ‌to £1.25 per share if DCC can sell its technology unit for at least $800 million.Whilst the DCC Energy Board remains confident in the energy strategy and associated 2030 Ambition announced in 2022, the Board believes the Consortium’s offer represents a compelling opportunity for shareholders to crystallise value in cash 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 heritage and support the business during its next phase of growth.” Continue reading...

• The US stock market experienced a significant downturn, sliding nearly 2% as investors shifted toward a risk-off sentiment. • The decline was driven primarily by losses in big tech, artificial intelligence, and semiconductor stocks, compounded by rising oil prices. • This volatility highlights the market's sensitivity to energy costs and the current instability of high-growth tech sectors.

• The Indian stock market declined on July 21, with the Sensex sliding 316 points and the Nifty 50 falling 65 points to close at 24,172. • The downturn was primarily driven by losses in the banking and IT sectors, pulling the benchmark gauges lower. • In contrast, Asian markets saw gains, with the MSCI Asia Pacific Index rising 1.5% fueled by chip giants Samsung Electronics and TSMC.

• Asian stock markets showed mixed results as investors reassessed their positions in artificial intelligence (AI) stocks. • Chinese semiconductor firms saw significant gains, with Semiconductor Manufacturing International Corp jumping over 4% and Hua Hong Semiconductor surging more than 6%. • Regional performance varied, with South Korean markets sliding while Australia's S&P/ASX 200 rose 0.2% and Singapore's Straits Times Index fell 0.1%.

• Asian markets showed mixed results as a deepening selloff in AI-linked tech stocks caused South Korea's Kospi to slide nearly 5%. • In contrast, Hong Kong's Hang Seng Index rose 2.1% to 25,105.78 and mainland China's Shanghai Composite Index gained 1.2% to 3,808.39. • TSMC recovered 2% after a previous 7.3% drop, following the company's announcement of a US$100 billion investment in US chipmaking operations.