United States Baker Hughes Oil Rig Count

United States Baker Hughes Total Rigs Count

European stocks closed marginally lower on Friday as tech stocks pulled back and pharmaceuticals retreated. The STOXX Europe 50 eased by 0.1% form yesterday's record high to 6,541 and the STOXX Europe eased 0.2% to 658. ASML dropped 0.2% to trim its sharp advance this week as markets continued to assess spending on AI infrastructure by hyperscalers, with both Anthropic and OpenAI set to undergo IPOs this year. Likewise, Infineon dropped 1.3%. Meanwhile, a negative session for European drug manufacturers saw Argenx and Sanofi fall 3.2% and 1.2%, respectively. In turn, banks and insurers were mostly higher despite a surge in European sovereign yields, especially in the long end of the curve, as the rhetoric that the Federal Reserve could allow higher inflation rates regained ground. Deutsche Bank and Intesa Sanpaolo gained nearly 1%, while Allianz and Munich Re jumped over 1% for the insurers.

European Stocks Ease Off Records

Wheat prices climbed more than 3% to above $6.70 a bushel on Friday, bringing weekly gains to over 5%, the strongest performance since mid-July. The rally was driven by growing concerns over disruptions to Black Sea exports amid the Russia-Ukraine conflict. Russia and Ukraine remain critical to the global wheat market, together accounting for almost 30% of projected world wheat exports in the 2026/27 season, leaving prices particularly vulnerable to prolonged interruptions. Supply concerns intensified after Russia halted grain loadings at its main Black Sea and Azov Sea ports. Operations at all three major terminals in Novorossiysk have now been suspended following Ukrainian drone attacks earlier in the week. The disruptions could force Russia to reduce exports further this month, tightening global availability. However, there were signs of a possible diplomatic opening, with Ukraine reportedly proposing that both sides stop attacks on civilian targets in the Black Sea.

Wheat Soars as Black Sea Supply Risks Mount

The FTSE 100 fell on Friday, extending its losses for a fifth consecutive session, as weakness across mining and pharmaceutical stocks weighed on the index. Lower industrial metal prices pressured miners, with Antofagasta falling more than 4%, Glencore dropping 2%, and Anglo American and Rio Tinto falling more than 1%. Meanwhile, Fresnillo and Endeavour recovered from sharp losses to close nearly flat as gold and silver rebounded. Pharmaceutical stocks were similarly weak, with AstraZeneca and GSK both losing more than 2%. On the other hand, Shell rose 1% as oil prices remained supported. Aviva added nearly 2% after reporting a 24% increase in first-half profit compared with the previous year. The company said it remained on track to meet its three-year group targets, providing some support to its shares. For the week, the UK index went down around 1.4%.

FTSE 100 Ends Week Lower

The FTSE MIB Index dropped 110 points or 0.20 percent on Friday to close at 53584 points. Losses were led by Enel (-2.00%), Prysmian (-1.95%) and STMicroelectronics (-1.84%). Offsetting the fall, top gainers were Fincantieri (3.20%), Amplifon (2.48%) and Lottomatica (1.64%).

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United States Baker Hughes Oil Rig Count

United States Baker Hughes Total Rigs Count