{"id":61797,"date":"2026-05-11T03:38:24","date_gmt":"2026-05-11T07:38:24","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-condemns-strait-of-hormuz-attack-as-softbank-misses-earnings-estimates\/61797\/"},"modified":"2026-05-11T03:38:24","modified_gmt":"2026-05-11T07:38:24","slug":"south-korea-condemns-strait-of-hormuz-attack-as-softbank-misses-earnings-estimates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-condemns-strait-of-hormuz-attack-as-softbank-misses-earnings-estimates\/61797\/","title":{"rendered":"South Korea Condemns Strait of Hormuz Attack as Softbank Misses Earnings Estimates"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korea officially confirmed that the <em>HMM Namu<\/em> cargo ship was struck by &quot;unidentified airborne objects&quot;<\/strong> in the Strait of Hormuz, leading the government to <strong>maintain fuel price caps<\/strong> indefinitely.<\/li>\n<li><strong>Softbank Corp (<a href=\"\/stock\/9434\">9434<\/a>) missed Q4 2026 earnings expectations<\/strong>, reporting operating income of <strong>158.43 billion Yen<\/strong> against a forecast of <strong>165.11 billion Yen<\/strong>, while also lowering its dividend outlook.<\/li>\n<li><strong>European markets traded mixed on Monday<\/strong>, with the <strong>FTSE 100<\/strong> gaining <strong>0.21%<\/strong> while the <strong>CAC 40<\/strong> dropped <strong>0.53%<\/strong> amid escalating Middle East tensions.<\/li>\n<li><strong>The UK leadership challenge intensified<\/strong> as Catherine West set a deadline for tomorrow morning to secure the support of <strong>81 MPs<\/strong>, while allies of Andy Burnham signaled a potential run.<\/li>\n<li><strong>Spain has formally proposed the creation of a unified EU military force<\/strong>, citing the need for &quot;middle powers&quot; to guarantee their own security in an increasingly volatile global landscape.<\/li>\n<\/ul>\n<h2>Geopolitical Tensions and Energy Security<\/h2>\n<p>The South Korean government has issued a strong condemnation following a forensic review of the attack on the <strong>HMM Namu<\/strong> cargo ship in the Strait of Hormuz. Investigators identified debris from flying objects\u2014likely drones or missiles\u2014that caused a <strong>5-meter wide crater<\/strong> and an engine room fire on May 4. While Seoul has stopped short of officially blaming Iran, the incident has effectively rattled global energy markets and prompted South Korea to extend its <strong>fuel price caps<\/strong> to stabilize domestic costs.<\/p>\n<p>In response to the maritime instability, South Korea\u2019s Finance Minister announced that price ceilings for gasoline and diesel will remain in place until the Middle East situation stabilizes. Meanwhile, <strong>Hungary<\/strong> is moving to diversify its energy procurements to reduce reliance on single-source suppliers. In China, private refineries are reportedly seeking government permission to <strong>reduce operating rates<\/strong> as margins thin under the weight of global supply disruptions.<\/p>\n<h2>Softbank Earnings Miss and Market Reaction<\/h2>\n<p>Softbank Corp (<a href=\"\/stock\/9434\">9434<\/a>) released its Q4 2026 financial results, which came in below analyst consensus across several key metrics. The company reported a <strong>FY dividend of 8.60 Yen<\/strong>, missing the estimated <strong>8.80 Yen<\/strong>, and projected a cautious net income of <strong>560 billion Yen<\/strong> for the coming year. <em>Investors reacted to the news with scrutiny as the tech giant faces a shifting landscape in AI data center investments and telecommunications growth.<\/em><\/p>\n<p>European equities showed a fragmented performance in early Monday trading. The <strong>FTSE 100<\/strong> saw modest gains, supported by winners like <strong>Delivery Hero (<a href=\"\/stock\/DHER\">DHER<\/a>)<\/strong>, which surged <strong>3.9%<\/strong>, and <strong>Compass (<a href=\"\/stock\/CPG\">CPG<\/a>)<\/strong>, up <strong>2.7%<\/strong>. Conversely, the <strong>DAX<\/strong> and <strong>CAC 40<\/strong> struggled, weighed down by losers including <strong>Hannover Re (<a href=\"\/stock\/HNR1\">HNR1<\/a>)<\/strong>, which fell <strong>2.7%<\/strong>, and <strong>Snam (<a href=\"\/stock\/SNAM\">SNAM<\/a>)<\/strong>, down <strong>0.7%<\/strong>.<\/p>\n<h2>Political Shifts in Europe and the UK<\/h2>\n<p>The United Kingdom&#39;s political landscape is bracing for a potential shift as Catherine West\u2019s leadership challenge reaches a critical juncture. West has indicated she will withdraw her bid by tomorrow morning if she fails to reach the <strong>81 MP threshold<\/strong> required to proceed. <em>Market participants are closely watching the developments, particularly reports that Andy Burnham may have a &quot;standing down&quot; agreement with a specific MP to facilitate his entry into the race.<\/em><\/p>\n<p>On the continent, Spain is championing a proposal for a <strong>permanent EU military force<\/strong>. According to reports from <em>Politico<\/em>, Spanish officials argue that a common defense structure is the only way for European nations to address collective vulnerabilities. This move comes as <strong>France<\/strong> manages a localized health crisis, with the Health Minister identifying <strong>22 contact cases<\/strong> linked to a recent Hantavirus situation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea officially confirmed that the HMM Namu cargo ship was struck by &quot;unidentified airborne objects&quot; in the 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