Melrose shares fall 3.5% as Garden Grove costs reach £30 million

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[1] Melrose Industries H1 Earnings Call Highlights (https://www.marketbeat.com/instant-alerts/mel ...)[2] Eldorado Gold Reports Solid Q2 2026 Financial and Operational Results; Skouries On Track for Q3 2026 (https://markets.businessinsider.com/news/stoc ...)[3] Melrose shares fall 3.5% as Garden Grove incident drives £30m exceptional cost outlook (https://finance.yahoo.com/markets/stocks/arti ...)[4] GKN Aerospace owner Melrose warns of cost hit from plant incident, pauses buyback (https://www.aol.com/articles/gkn-aerospace-ow ...)

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Jul 31 2026, 11:25

SK Hynix surges 30% to daily limit as Kospi jumps 18%

SK Hynix surged 29.95% to 1.718 million won on Friday, hitting its first-ever daily limit, as South Korea's Kospi jumped 17.9% to 6,695.45 in its largest single-day gain on record. The stock opened 28.37% higher at 1.697 million won and climbed to the exchange's 30% daily cap, a limit raised from 15% in June 2015. The rebound was "more repair than reset," said Patrick Munnelly, market analyst at Tickmill, noting that aggressive short-covering in a deeply oversold market drove the move rather than a full restoration of confidence. Samsung Electronics surged 28% to 265,000 won, while the Kospi's 17.9% jump eclipsed the previous record of nearly 12% set in October 2008 during the global financial crisis. The benchmark still ended July down 22%, its worst monthly decline since the 23% plunge in October 2008, and sits about 30% below its June peak above 9,000. The rally followed stronger-than-expected cloud earnings from Microsoft and Amazon, which sent the iShares Semiconductor ETF up 8.5% overnight. Microsoft shares soared 15.5% for their best day in nearly 18 years, while Amazon climbed more than 9.5% in after-hours trading after raising its 2026 capital expenditure projection from $200 billion to $220 billion. **Volatility risk remains elevated** The Kospi's wild swings this month exposed the market's dependence on just two companies. Samsung Electronics and SK Hynix account for a disproportionate share of the benchmark's weight, and retail investors piled into leveraged single-stock ETFs linked to both names after their May launch — just weeks before the AI rally peaked. Those products forced daily rebalancing into falling markets, deepening the selloff. SK Hynix reported record second-quarter results on Wednesday, with operating profit rising 557% year over year to 60.54 trillion won (about $43.2 billion), though that missed the 64 trillion won analysts expected. Revenue more than tripled to a record 79.32 trillion won, while the company posted a 76% operating margin. SK Group Chairman Chey Tae-won bought 3,620 shares for 4.9 billion won ($3.41 million) a day before the surge, a purchase that gained roughly 1.3 billion won ($904,000) in value within a single session. Wolfe Research analyst Chris Caso remains bullish on memory stocks, saying tight supply and strong AI-driven demand support the sector, with meaningful oversupply unlikely before 2028 given the time required to build new chip manufacturing capacity. Across Asia, the rebound was broad. Japan's Nikkei 225 climbed 4% to 64,362.02, with SoftBank Group jumping 13.8% and Tokyo Electron rising 6.2%. Taiwan's Taiex surged 8%, helped by a 10% jump for TSMC. The dollar gained 0.5% to 160.28 yen, while Brent crude traded at $87.50 a barrel. SK Hynix's U.S.-listed American depositary receipts climbed 6.20% in premarket trading Friday, tracking the Seoul surge, and later traded up about 7.1%. The question for investors is whether Friday's surge marks a genuine bottom or a short-term reprieve. With the Kospi still 30% below its June peak and leveraged retail products amplifying moves in both directions, volatility is likely to remain elevated in the weeks ahead. This article is for informational purposes only and does not constitute investment advice.

Jul 31 2026, 11:25

Asian stocks add $1 trillion as AI earnings fuel rebound

Asian equities added roughly $1 trillion in market value Thursday, one of the strongest rebounds on record, after Microsoft and Amazon delivered blockbuster AI-driven earnings. "AWS is booming," Andy Jassy, chief executive officer at Amazon, said in a statement, citing AI and chip businesses each eclipsing run rates above $25 billion. Microsoft's stock jumped 9.8 percent after the software giant reported revenue up 18 percent to $90 billion for the quarter ended June, with Azure growth of 43 percent crossing $100 billion in annual revenue. Amazon shares rose more than 7 percent in after-hours trading as AWS sales climbed 37 percent, the fastest pace in 18 quarters. The results contrasted with Meta Platforms, which fell 10 percent after reporting earnings per share of $6.18, $1.02 below consensus, and free cash flow down 81 percent to $784 million. The divergence shows what investors are paying for: Microsoft and Amazon monetize AI infrastructure through external cloud customers, while Meta consumes its own capacity with no offsetting revenue. Alphabet added to the AI spending picture by raising its full-year capital expenditure forecast to $195 billion to $205 billion, even as its cloud business grew 82 percent. The Asian rebound tracked Wall Street's overnight session, where the AI earnings wave lifted technology shares across the region. Semiconductor supply chain names and cloud infrastructure providers led the advance, with traders pointing to the $678 billion backlog at Microsoft — up 84 percent year over year — as evidence that AI demand has contracted customers behind it. Microsoft's guidance reinforced the bull case. Chief Financial Officer Amy Hood guided fiscal first-quarter revenue to a midpoint of $90.4 billion, $740 million above the Street estimate, while targeting Azure growth of 45 percent, four percentage points faster than consensus. The company also lowered its 2026 capital expenditures 8 percent to $175 billion by changing accounting assumptions, while keeping quarterly capex above $50 billion. Amazon's results showed similar momentum. The company reported net income of $62.65 billion, or $5.75 per share, compared with $18.16 billion a year earlier, as net sales rose to $200.6 billion from $167.7 billion. Jassy noted record delivery speeds for Prime members in the first half of the year, with 40 percent more items delivered same-day or overnight. **Meta's Miss Highlights AI Monetization Divide** Meta's stumble provided the counterpoint. Operating margin declined 12 percentage points to 31 percent, and the company cut its 2026 capex forecast 10 percent to $145 billion while declining to quantify 2027 spending. CFO Susan Li's refusal to provide forward capex guidance drew scrutiny from analysts, with JPMorgan's Douglas Anmuth pressing management on the contradiction of Meta becoming both buyer and seller of AI computing. The question now is whether the AI earnings momentum can sustain the Asian rally — and whether risk appetite extends to Bitcoin. Microsoft's stock trades 29 percent below its 52-week high at 23 times trailing earnings, with analysts estimating 42 percent upside based on consensus 12-month price targets. Meta's estimated upside is 35 percent. For Asian markets, the key test will be whether semiconductor and AI supply chain names can maintain their advance into the next earnings cycle. This article is for informational purposes only and does not constitute investment advice.

Jul 31 2026, 11:18

China approves four nuclear projects as Beijing accelerates reactor buildout

China's State Council approved four nuclear power projects including the Liaoning Zhuanghe Phase I plant, extending a buildout that has made Beijing the world's most active reactor developer as data-center demand strains the grid. The decision, announced at an executive meeting chaired by Premier Li Qiang and reported by state broadcaster CCTV, extends a series of approvals Beijing has sustained since 2022 as part of its clean-energy transition. The pace contrasts with the U.S., where the first new reactor in decades — Georgia's Vogtle plant — came online in 2023, seven years late and $17 billion over budget, according to project records. The approvals come as governments worldwide race to expand atomic power to meet surging electricity demand. In the U.S., President Donald Trump has moved to quadruple domestic nuclear output, and the Energy Department in July signed agreements with five states — Tennessee, Louisiana, Oklahoma, Utah and Idaho — to host nuclear waste sites in exchange for federal help developing reactors. Illinois, home to 11 reactors across six plants, lifted a four-decade moratorium on new large-scale plants in January and is soliciting communities to host new facilities. The approvals are a positive for Chinese nuclear equipment makers, engineering contractors and utilities, which stand to benefit from sustained state spending on atomic power. Beijing's target of carbon neutrality by 2060 underpins the buildout, with nuclear filling a baseload role alongside wind and solar. ## Beijing's reactor pipeline China's approval cadence has made it the dominant force in global reactor construction, with the country operating the world's largest fleet of units under construction, according to industry data. The Liaoning Zhuanghe project, in the northeastern province, is among the largest of the newly approved units. China has also exported its Hualong One reactor design to Pakistan and Argentina, extending its influence over the global supply chain for reactor components and fuel. ## Investors eye the nuclear supply chain For investors, the approvals point to continued government support for the nuclear supply chain, from reactor pressure vessels and steam generators to fuel fabrication and grid connections. Chinese state-owned utilities that operate reactors, along with equipment suppliers, are the primary beneficiaries. Construction typically spans five to seven years per unit, giving suppliers multi-year revenue visibility that is rarely matched elsewhere in the power sector. Globally, the nuclear renaissance is gathering pace. The U.S. Energy Department estimates its proposed nuclear campuses could attract up to $50 billion in private investment and generate as much as $10 billion in state and local tax revenues. "These campuses will be massive generators of economic growth ... and be crucial to unleashing America's nuclear renaissance," Energy Secretary Chris Wright said. Small modular reactors — factory-built units typically under 300 megawatts — remain largely unproven commercially, with only two operating worldwide, in Russia and China. This article is for informational purposes only and does not constitute investment advice.