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1. Bank of England cuts rates by 25bp.

“We continue to favor UK large-cap equities, which stand to benefit from any meaningful FX depreciation,” says Sophie Careford, head of international portfolio specialists at Allspring Global Investments. “These companies are also more exposed to international revenues and value-oriented sectors — both of which remain attractive in the current environment.”

2. Auto industry takes $12 Billion hit from trade war. So far.

3. Europe's old power plants to get a makeover driven by AI boom.

Companies such as Engie, RWE and Enel ENEI are looking to benefit from a surge in AI-driven energy demand by converting old power sites into data centres and securing lucrative long-term power supply deals with their operators.

The data centre option offers the utilities a way to offset the hefty costs of shutting down ageing power plants as well as potentially underwriting future renewable developments. Tech companies see these sites as a quick way to secure power grid connections and water cooling facilities, two big bottlenecks in the AI industry.

The appeal for tech companies is speed. Grid connection delays in Europe can stretch over a decade, while repurposed plants potentially offer speedier access to power and water. "You actually have the opportunity to move faster," said Hollis at Microsoft.

Below: Data centre capacity in Europe is much lower than the United States and Asia due to longer grid connection times and slower permitting, data from Synergy Research Group showed.

4. Eli Lilly falls 14% after oral weight-loss drug data fails to impress.

Orforglipron weight-loss efficacy of 11.2% was lower than Wegovy’s 14.9%.

This improves the competitive positioning of Novo's Wegovy, as well as oral semaglutide 25mg launching in the US end 2025 / early 2026.

Novo was up 7% today.

More than 1 billion people are living with obesity and the use of GLP-1 is broadening out to the treatment of chronic kidney disease, broader cardiovascular risk reduction and metabolic liver disease. The market is big enough for the two companies with an expected growth of 25% per year.

5. What car brand, if any, is most desirable to you?

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