The blue-chip FTSE 100 fell 0.13% as of 1105 GMT, easing from record highs touched last week
International News via Reuters:
The FTSE 100 dipped on Monday, as investors focussed on the brewing political crisis in Britain, while bank stocks came under pressure with NatWest leading declines after it agreed to buy wealth manager Evelyn Partners.
The blue-chip FTSE 100 fell 0.13% as of 1105 GMT, easing from record highs touched last week. The FTSE 250 midcap index was little changed.
British Prime Minister Keir Starmer’s chief of staff, Morgan McSweeney, quit on Sunday, saying he took responsibility for advising Starmer to name Peter Mandelson as ambassador to the U.S. despite his known links to sex offender Jeffrey Epstein.
Polls show Starmer is hugely unpopular with voters after a series of embarrassing U-turns, prompting some in his own party to openly question his judgment and his future. Longer-dated borrowing costs have risen in recent days, suggesting traders think Starmer may be forced out.
“Political pressure is building on Starmer to resign. If we do get shift in the premiership, the replacement is likely to be from the pro Left camp which would weigh on the currency and long-term bond yields,” said Jefferies economist Mohit Kumar.
Weighing on the FTSE 100, NatWest Group slid 5.5% after it agreed to buy one of Britain’s largest wealth managers, Evelyn Partners, for 2.7 billion pounds ($3.68 billion) including debt.
UK banks overall fell 1.2% as investors priced in more rate cuts from the British central bank.
The Bank of England kept interest rates on hold last week, but only after an unexpectedly narrow 5-4 vote, and said borrowing costs are likely to fall if inflation continues to ease.
Data this week, including January retail sales and December GDP figures, could further guide expectations around monetary policy.
Among other stocks, Greggs fell 5% after Jefferies warned that weight-loss drugs could curb sales growth by reducing demand from the bakery chain’s customers.
Plus500 rose 5.4% to touch a record high after the online trading platform forecast 2026 results ahead of market expectations.
Reporting by Sruthi Shankar in Bengaluru; Editing by Leroy Leo
The European Chips Act, unveiled in 2022, aims to double the EU’s share of global semiconductor production to 20% by 2030
International News via Reuters:
Europe took a step to strengthen its hand in the global chip race on Monday as Belgian research firm imec opened “NanoIC”, a 2.5 billion euros ($2.95 billion) pilot line aimed at developing ultra-advanced semiconductors under the EU’s Chips Act.
WHY IT’S IMPORTANT
Europe is home to major chipmaking equipment champions – including Dutch lithography leader ASML – but produces and designs only a small slice of the most advanced chips, leaving it largely on the sidelines of the AI-driven boom that has lifted U.S. and Asian players.
NanoIC is designed to close part of that gap. Rather than building a full commercial factory, Europe is betting on a shared research model that lets firms and labs prototype beyond-2nm process steps and integration before committing billions to volume manufacturing.
CONTEXT
The European Chips Act, unveiled in 2022, aims to double the EU’s share of global semiconductor production to 20% by 2030. NanoIC will host ASML’s most advanced tool, the High NA EUV machine, alongside its full suite of accompanying tools.
BY THE NUMBERS
2.5 billion euros: The total investment for the NanoIC pilot line, comprising of 1.4 billion in public funding from the EU’s Chips Joint Undertaking and the Flemish government and 1.1 billion in private contributions from industry leaders, with ASML representing the largest share.
KEY QUOTES
“We are all very proud and thankful that this is happening at the heart of Europe and will allow Europe to play an even more critical role in the global semiconductor ecosystem” said ASML chief executive Christophe Fouquet in a statement.
“The NanoIC pilot line will play a crucial role in strengthening Europe’s industrial fabric in the AI era”, imec CEO Luc Van den hove said.
WHAT’S NEXT
imec expects the delivery of ASML’s High NA EUV tool in March.
($1 = 0.8483 euros)
Reporting by Nathan Vifflin in Gdansk; Editing by Matt Scuffham
Successive governments have tightened immigration policies since 2015, when around 160,000 asylum seekers sought refuge in Sweden
International News via Reuters:
Sweden will tighten citizenship rules with applicants facing a longer, eight-year wait before they can apply, a minimum wage threshold and a test of their understanding of Swedish society, the centre-right government said on Monday.
Successive governments have tightened immigration policies since 2015, when around 160,000 asylum seekers sought refuge in Sweden. But the minority coalition government is betting that an even more restrictive line on immigration will prove popular with voters in September’s parliamentary election.
“These requirements are much tougher than the situation as it is today because currently there are basically no requirements (to become a citizen),” Migration Minister Johan Forssell told reporters.
The government said applicants for Swedish citizenship would have to live in the country for eight years, up from five, have a monthly income of more than 20,000 Swedish crowns ($2,225), and be able to pass a language and culture test.
“It seems reasonable that you should know whether Sweden is a monarchy or a republic, if you want to be a citizen,” Forssell said.
Anyone with a criminal record, either in Sweden or abroad, will have to wait longer before they can apply. Someone who had served a four-year prison sentence, for example, would have to wait 15 years before being able to apply for citizenship.
The anti-immigration Sweden Democrats, who back the minority coalition government, have blamed decades of what they say are failed immigration policies for a wave of gangland crime that has swept the country.
The new rules are expected to come into force on June 6.
Last week the government said it would tighten rules for asylum seekers.
The loss of two senior aides in quick succession comes as Starmer tries to draw a line under the crisis in his government resulting from his appointment of Mandelson as ambassador to the U.S.
International News via Reuters:
British Prime Minister Keir Starmer’s director of communications Tim Allan resigned on Monday, a day after Starmer’s top aide Morgan McSweeney quit over his role in backing Peter Mandelson over his known links to Jeffrey Epstein.
The loss of two senior aides in quick succession comes as Starmer tries to draw a line under the crisis in his government resulting from his appointment of Mandelson as ambassador to the U.S.
“I have decided to stand down to allow a new No10 team to be built. I wish the PM and his team every success,” Allan said in a statement on Monday.
Allan served as an adviser to Tony Blair from 1992 to 1998 and went on to found and lead one of the country’s foremost public affairs consultancies in 2001. In September 2025, he was appointed executive director of communications at Downing Street.
Reporting by Sam Tabahriti, Elizabeth Piper and Catarina Demony; writing by Sarah Young, editing by William James
The resource was prepared by the Ageing Well Committee in partnership with the Ministry of Youth, Social Development and Seniors
The Ministry of Youth, Social Development and Seniors advises that the “Envision Your Retirement: 2026 Planning Guide to Retirement” guidebook is now available online, providing Bermuda’s pensioners and residents approaching retirement with easy and convenient access to this important Government resource. The guidebook has been prepared by the Ageing Well Committee in partnership with the Ministry of Youth, Social Development and Seniors and is intended to support individuals in planning for a secure, informed and fulfilling retirement.
The 2026 Planning for Retirement guidebook has been developed in response to the growing need for proactive retirement planning as Bermuda’s senior population continues to experience increased longevity and maintain active lifestyles. Following appeals from seniors, caregivers, employers and other stakeholders for a comprehensive and targeted resource, the Ageing Well Committee worked collaboratively with the Ministry to produce a guide that offers practical, locally relevant information. The guidebook consolidates guidance and official contacts from both Government and the private sector to assist individuals in navigating the complexities of retirement planning in Bermuda.
The guidebook is designed to assist residents entering the workforce and nearing retirement by providing clear guidance on key planning areas, including housing and living arrangements, healthcare and health insurance options, budgeting and debt management, estate planning and financial readiness. It encourages early and thoughtful planning, promotes informed decision-making, and supports individuals and their families in preparing for retirement with greater confidence and peace of mind. The guide also reflects the Ministry’s ongoing commitment to promoting healthy, purposeful ageing and ensuring seniors have access to reliable and affordable resources.
Members of the public may view the Envision Your Retirement: 2026 Planning Guide to Retirement guidebook online, and those who require a printed version may collect a hard copy from Ageing and Disability Services or from the Ministry of Youth, Social Development and Seniors Headquarters. The Ministry also advises that they will be looking to facilitate educational sessions in the future, to assist and support individuals seeking a better understanding of the guide and the retirement planning process.
Government provides a post-storm update on public transport
The Department of Marine and Ports Services has advised that as of this morning , 9 February, 2026, the Pink Route service is operating on schedule. The Green route is operating , however, the Blue is still being accessed. The Department will continue to provide service updates throughout the day.
The European Commission said on Monday that it has sent a statement of objections, or charges, to Meta over violation of the bloc’s rules
International News via Reuters:
EU competition regulators have threatened to stop Meta Platforms from blocking artificial intelligence rivals from its WhatsApp messaging service while it investigates suspected abuse of a dominant position by the U.S. tech giant.
The European Commission said on Monday that it has sent a statement of objections, or charges, to Meta over violation of the bloc’s rules and intends to impose interim measures to prevent serious and irreparable harm to rivals, mirroring moves by Italy’s competition watchdog in December.
“We must protect effective competition in this vibrant field, which means we cannot allow dominant tech companies to illegally leverage their dominance to give themselves an unfair advantage,” EU antitrust chief Teresa Ribera said in a statement.
“That is why we are considering quickly imposing interim measures on Meta, to preserve access for competitors to WhatsApp while the investigation is ongoing and avoid Meta’s new policy irreparably harming competition in Europe.”
Meta said there was no reason for the EU to intervene.
“There are many AI options and people can use them from app stores, operating systems, devices, websites and industry partnerships,” a Meta spokesperson said in an email.
“The Commission’s logic incorrectly assumes the WhatsApp Business API (software) is a key distribution channel for these chatbots.”
Meta implemented its policy on January 15, allowing only its Meta AI assistant on WhatsApp.
The Commission’s decision on whether to impose interim measures will depend on Meta’s reply and rights of defence, the watchdog said.
The EU investigation underscores the bloc’s determination to enforce its antitrust rules despite U.S. criticism of European action against big U.S. technology companies.
A Brazilian court last month suspended an interim measure by the country’s antitrust agency against Meta on the same issue.
The latest victim was a 70-year-old hiker, who was found dead overnight in the Veneto region of the country, which is hosting the Milano Cortina Winter Olympics in the Alps from February 6-22
International News via Reuters:
Italy’s Alpine rescue service on Monday urged “maximum caution” after avalanches claimed 11 lives in seven days, as exceptionally unstable snow conditions threaten large parts of the Alps.
The latest victim was a 70-year-old hiker, who was found dead overnight in the Veneto region of the country, which is hosting the Milano Cortina Winter Olympics in the Alps from February 6-22.
Italy’s rescue service said the risk of avalanches was present across most of the Alpine range from west to east.
With fresh snow accumulating on older and unstable layers, even the movement of a single skier can trigger an avalanche, the rescue service said in a statement.
These conditions make it difficult even for expert off-piste skiers to identify safe routes, it warned.
The rescuers urged anyone heading into snowy terrain to study avalanche bulletins carefully, plan their routes conservatively and ensure they carry standard rescue equipment.
It also advised considering postponing outings until the snowpack had stabilised naturally.
Reporting by Claudia Cristoferi, editing by Alvise Armellini and Anil D’Silva
Morgan McSweeney, Starmer’s chief of staff, quit on Sunday, saying he took responsibility for advising the Prime Minister to choose Peter Mandelson as ambassador to the U.S. despite his known links to Jeffrey Epstein
International News via Reuters:
The pound slumped against the euro and dipped versus the dollar on Monday as traders reacted to the crisis facing Prime Minister Sir Keir Starmer and as expectations of further interest rate cuts weighed on the currency.
Morgan McSweeney, Starmer’s chief of staff, quit on Sunday, saying he took responsibility for advising the Prime Minister to choose Peter Mandelson as ambassador to the U.S. despite his known links to Jeffrey Epstein.
Yet Starmer remains under pressure, with the Epstein saga far from over and tough local elections looming.
The euro was last up 0.49% against the pound at 87.22 pence. That was around a two-week high, though the euro remains flat against sterling this year.
Against the dollar, the pound was a touch lower at $1.3607 after falling as much as 0.2% earlier in the session.
POLITICS IN FOCUS FOR UK ASSETS
British government bonds also slightly underperformed their European peers on Monday as markets focused on Starmer’s situation, although the moves were muted.
Many bond investors worry a new Labour prime minister would shift policies to the left and increase spending, while currency markets traditionally abhor political instability.
The government now faces the potentially embarrassing release of almost all private communications between officials about Mandelson’s appointment.
An election for a parliamentary seat in Manchester later this month and local elections in May could deal another blow to Starmer’s leadership.
“Expect pressure to remain on both sterling and gilts as the market speculates over a change of personnel at numbers 10 and 11 Downing Street,” said Chris Turner, head of global markets at lender ING, referring to the addresses of the prime minister and finance minister.
“Combined with a dovish twist at last week’s Bank of England meeting, sterling is under pressure.”
RATE CUT BETS DIVERGE
The pound was also feeling the effects of a closer-than-expected Bank of England decision to hold interest rates last week, which caused traders to ramp up bets on further cuts this year.
The European Central Bank meanwhile seems likely to keep rates steady for the foreseeable future, with the expectations of lower relative returns denting the appeal of the pound versus the euro.
“The pound looks set to continue trending weaker across the board,” said Neil Jones, managing director for FX sales and trading at TJM Europe. “Political uncertainty is on the increase.”
Three-month risk reversals, which show the difference between the cost of owning an option to buy the euro against the pound versus the cost of one to sell the euro against sterling, rose to 67 basis points, the highest since late November, from a low of 22 bps on Thursday.
The higher the number, the more bullish sentiment is for the euro versus sterling and vice versa.
The euro was also up around 0.4% against the dollar on Monday. Some analysts said a Bloomberg report that China has advised banks to limit their holdings of U.S. Treasuries was weighing on the dollar.
Reporting by Harry Robertson; Additional reporting by Amanda Cooper; Editing by Emelia Sithole-Matarise
Bargain hunting in some of the markets that were hit by selling last week, like silver, bitcoin and technology stocks, helped shore up overall sentiment
International News via Reuters:
Global equities rallied on Monday, taking heart from a rebound in U.S. chip stocks and other beaten-down assets after a volatile week, while Japanese Prime Minister Sanae Takaichi’s resounding election win pushed Tokyo shares to a record high.
Bargain hunting in some of the markets that were hit by selling last week, like silver, bitcoin and technology stocks, helped shore up overall sentiment, as did heightened expectation for more policy easing from the Federal Reserve that, in turn, weighed on the dollar a little.
A rate cut by June is now seen as an odds-on bet, with a slew of economic data this week on jobs, inflation and spending expected to reinforce the case for stimulus.
A Bloomberg News report, citing unnamed sources, that China had urged banks to curb U.S. Treasury exposure weighed a little further on the dollar and pushed Treasury yields a tad higher.
In stocks, Japan’s Nikkei headlined the gains with a rise of 3.9%, hitting all-time highs as the decisive majority for the ruling LDP party clears the way for more spending and tax cuts.
The yen strengthened across the board, but most notably against the dollar, which had recovered almost all of a steep slide against the Japanese currency in late January.
“The key focus for investors will be the scale of fiscal expansion. In particular, developments around the temporary food tax cut pledged during the election campaign will be closely followed,” Sree Kochugovindan, senior research economist at Aberdeen, said.
“The LDP landslide does not give Takaichi free rein to just spend. The LDP are fiscally conservative and Takaichi has been very mindful of bond investors,” she said.
The prospect of more borrowing pushed two-year Japanese government bond yields up to their highest since 1996 at 1.3%.
Equity investors took heart from the removal of some political uncertainty in Japan, coupled with a sense of relief over the apparent end to last week’s aggressive selloff in both the companies that are spending hugely to roll out artificial intelligence, as well as in those that investors see as most vulnerable to disruption from it.
Europe’s STOXX 600 index edged up 0.2% towards record highs, while S&P 500 futures and Nasdaq futures were mostly flat. The indexes bounced more than 2% on Friday to break a run of heavy losses.
Concerns remained about whether the massive amounts being spent on AI will ever make a return. The four largest U.S. tech giants alone plan to spend $650 billion on capex this year.
US DATA TO TEST FED WAGERS
U.S. data this week could prove pivotal in setting expectations for monetary policy. Reports on jobs, inflation and consumer spending all land in the coming days and, in order to keep sentiment intact, they would need to be benign enough to keep rate cuts alive, but not so weak as to threaten consumer demand and earnings.
In currencies, the dollar eased against a basket of major currencies, falling 0.45% against the yen to 156.57, while the euro was up 0.4% at $1.1865.
The pound was under pressure against the euro, which rose 0.5% on the day, leaving the single currency at 87.22 pence, as uncertainty grew over the political survival of UK Prime Minister Keir Starmer.
“Should Starmer be replaced, gilt yields initially rise and the pound weakens,” said Ruth Gregory, deputy chief UK economist at Capital Economics.
“The most likely longer-lasting influence is a loosening in fiscal policy that leads to higher gilt yields than otherwise and a weaker pound than otherwise.”
In commodity markets, silver rose 4.5% to $81.44 an ounce, after swinging wildly from a 15% loss to a 9% closing gain on Friday, while gold rose 1.1% to $5,015, up from last week’s low of $4,403.
Additional reporting by Wayne Cole in Sydney; Editing by Sonali Paul, Neil Fullick and Emelia Sithole-Matarise
Anutin set the stage for the snap election in mid-December during a border conflict between Thailand and Cambodia
International News via Reuters:
Thai Prime Minister Anutin Charnvirakul’s Bhumjaithai Party won a clear victory in Sunday’s general election, raising the prospect that a more stable coalition may now succeed in bringing an end to a period of prolonged political instability.
Anutin set the stage for the snap election in mid-December during a border conflict between Thailand and Cambodia, a move political analysts said appeared to be timed by the conservative leader to cash in on surging nationalism.
It is a gamble that paid off for a prime minister, who – having taken over after premier Paetongtarn Shinawatra of the populist Pheu Thai party was ousted over the Cambodian crisis – then dissolved parliament less than 100 days later.
“Bhumjaithai’s victory today is a victory for all Thais, whether you voted for Bhumjaithai Party or not,” Anutin told a press briefing. “We have to do the utmost to serve the Thai people to our full ability.”
With nearly 95% of polling stations reporting, preliminary results released by the election commission showed the Bhumjaithai Party winning about 192 seats, compared to 117 for the progressive People’s Party, and 74 for the once-dominant Pheu Thai party.
A handful of other parties won a combined 117 spots in the 500-seat parliament, according to a Reuters calculation of election commission data.
‘POWER TO GOVERN’
When Anutin dissolved parliament in December, he cited dysfunction and infighting between rival parties as making it impossible to lead a minority government.
While the Bhumjaithai Party was unlikely to win a majority outright, the results suggest it is in a strong position to push through campaign pledges, said Napon Jatusripitak, a political scientist at the Bangkok-based Thailand Future think-tank. Those include implementing a consumer subsidy programme and ditching an agreement with Cambodia over maritime claims.
“For the first time in a long time, we will likely have a government that has sufficient effective power to govern,” he said. “We are seeing what I would describe as a marriage of convenience between technocrats, conservative elites, and traditional politicians.”
Critical to Anutin’s success were his embrace of nationalism and Bhumjaithai’s strategy of winning over politicians from rival parties in rural areas, analysts said.
“The scale of its victory was unanticipated, perhaps demonstrating that the more nationalist political environment and its ability to consolidate the conservative electorate all worked in its favour,” said Mathis Lohatepanont, an independent political analyst.
PEOPLE’S PARTY REJECTS COALITION BID
Speaking as results were coming in, People’s Party leader Natthaphong Rueangpanyawut conceded that, while some votes had yet to be counted, his party did not look likely to win.
Natthaphong said the party would not join a Bhumjaithai-led government but would also not form a competing coalition.
“If Bhumjaithai can form a government, then we have to be the opposition,” he told a press conference.
With a message of structural change and reforms to Southeast Asia’s second-largest economy, the People’s Party had led most opinion polls during the campaign season.
But in a survey conducted during the campaign’s final week and released on Sunday, the National Institute for Development Administration projected that Bhumjaithai would be the winner with between 140 and 150 seats in the 500-member House of Representatives, ahead of 125-135 for the People’s Party.
The progressive party’s earlier support for Anutin as prime minister was likely a severe miscalculation, undermining its own ideological purity and allowing Bhumjaithai to attain the benefits of incumbency, Mathis said.
Speaking to Reuters, Natthaphong said he did not see the election as the result of any mistakes by his party, but instead highlighted that its opponents had not been complacent.
“I’m not blaming any factors. Our responsibility now has to be to focus on the grassroots,” he said. “We’ve done a lot already but haven’t been able to crack what they have. It wasn’t good enough.”
CONSTITUTIONAL REFERENDUM
Thai voters were also asked during the vote to decide if a new constitution should replace a 2017 military-backed charter that critics say concentrated power in undemocratic institutions, including a powerful senate that is chosen through an indirect selection process with limited public participation.
The election commission’s early count showed voters backing the referendum by a margin of nearly two to one.
Thailand has had 20 constitutions since the end of its absolute monarchy in 1932, with most of the changes coming in the wake of military coups.
The new government and lawmakers can start the amendment process in parliament with two more referendums required to adopt a new constitution.
Additional reporting by Chayut Setboonsarng, Kitiphong Thaichareon, Thomas Suen, Minh Nguyen, Panarat Thepgumpanat, Napat Wesshasartar and Orathai Sriring; Writing by Josh Smith; Editing by Joe Bavier, Helen Popper and Ros Russell
Brent crude futures fell 89 cents, or 1.31%, to $67.16 a barrel by 2309 GMT
International News via Reuters:
Oil prices dropped more than 1% at Monday’s open as concerns about a possible conflict in the Middle East between the U.S. and Iran eased after both countries finished a round of talks on Friday.
Brent crude futures fell 89 cents, or 1.31%, to $67.16 a barrel by 2309 GMT.
U.S. West Texas Intermediate crude was at $62.76 a barrel, down 79 cents, or 1.24%.
Iran’s top diplomat said on Friday that nuclear talks with the U.S. mediated by Oman were off to a “good start” and set to continue, in remarks that could help allay concern that failure to reach a deal might nudge the Middle East closer to war.
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