{"id":65984,"date":"2026-08-05T02:38:16","date_gmt":"2026-08-05T06:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-roundup-asx-hits-record-high-as-glencore-and-legal-general-post-strong-earnings\/65984\/"},"modified":"2026-08-05T02:38:16","modified_gmt":"2026-08-05T06:38:16","slug":"global-markets-roundup-asx-hits-record-high-as-glencore-and-legal-general-post-strong-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-roundup-asx-hits-record-high-as-glencore-and-legal-general-post-strong-earnings\/65984\/","title":{"rendered":"Global Markets Roundup: ASX Hits Record High as Glencore and Legal &#038; General Post Strong Earnings"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Australia\u2019s S&amp;P\/ASX 200 index surged 0.9% to close at a record high of 9,227.80 points<\/strong>, driven by strong performance in the mining and financial sectors.<\/li>\n<li><strong>Glencore (<a href=\"\/stock\/GLEN\">GLEN<\/a>) reported robust H1 2026 earnings<\/strong> with an adjusted EBITDA of <strong>$10.12 billion<\/strong>, beating estimates and announcing a new <strong>$500 million share buyback<\/strong>.<\/li>\n<li><strong>Legal &amp; General (<a href=\"\/stock\/LGEN\">LGEN<\/a>) posted an operating profit of \u00a3918 million<\/strong>, slightly ahead of expectations, and signaled it expects full-year EPS growth to exceed its 6-9% target range.<\/li>\n<li><strong>Ryanair (<a href=\"\/stock\/RYA\">RYA<\/a>) achieved record July traffic of 22.2 million passengers<\/strong>, marking a 7% year-on-year increase while maintaining a high load factor of 96%.<\/li>\n<li><strong>European equity futures point to a positive open<\/strong>, with DAX and Euro Stoxx 50 futures rising as investors digest a heavy slate of corporate earnings and economic data.<\/li>\n<\/ul>\n<h2>Corporate Earnings and Market Movers<\/h2>\n<p><strong>Glencore (<a href=\"\/stock\/GLEN\">GLEN<\/a>)<\/strong> delivered a strong first-half performance for 2026, reporting <strong>adjusted EBIT of $6.65 billion<\/strong> and <strong>revenue of $174.43 billion<\/strong>, both significantly ahead of analyst estimates. The commodities giant announced total shareholder returns of approximately <strong>$3.5 billion<\/strong> for the year, including a new <strong>$500 million share buyback<\/strong> program. Additionally, the company confirmed plans to apply for a <strong>secondary listing on the ASX<\/strong>, aiming to tap into Australian capital markets.<\/p>\n<p><strong>Legal &amp; General (<a href=\"\/stock\/LGEN\">LGEN<\/a>)<\/strong> reported H1 2026 operating profits of <strong>\u00a3918 million<\/strong>, beating the consensus estimate of \u00a3917 million. Despite Assets Under Management (AUM) coming in at <strong>\u00a31.12 trillion<\/strong>\u2014slightly below the \u00a31.2 trillion forecast\u2014the insurer remains optimistic. Management stated that <strong>FY26 Core Operating EPS<\/strong> is expected to land above the top end of its 6-9% target range, noting the firm is on track to meet or exceed all strategic targets.<\/p>\n<p><strong>Ryanair (<a href=\"\/stock\/RYA\">RYA<\/a>)<\/strong> continues to see surging demand for low-cost travel, reporting a record <strong>22.2 million guests<\/strong> in July. This represents a <strong>7% increase<\/strong> compared to the previous year, with the rolling 12-month passenger count now reaching <strong>213.2 million<\/strong>. The airline maintained a <strong>96% load factor<\/strong>, suggesting that capacity increases are being met with consistent consumer appetite despite broader economic pressures.<\/p>\n<h2>Global Macroeconomic Trends<\/h2>\n<p>In the Asia-Pacific region, the <strong>S&amp;P\/ASX 200<\/strong> reached a historic milestone, closing at <strong>9,227.80 points<\/strong>. This record-breaking session reflects investor confidence in the region&#39;s resilience. Meanwhile, <strong>South Korean<\/strong> officials are engaged in a flurry of diplomatic activity; the Foreign Minister noted that while multilateral talks with North Korea remain &quot;realistically difficult,&quot; Seoul is coordinating closely with <strong>Washington<\/strong> on nuclear enrichment issues and with <strong>China<\/strong> on regional stability.<\/p>\n<p>European economic indicators showed some cooling in the Nordic region. <strong>Sweden\u2019s Swedbank\/Silf PMI Composite<\/strong> fell to <strong>54.7<\/strong> in July from 57.1 in June, while the Services PMI dipped to <strong>54.2<\/strong>. Although these figures remain in expansionary territory (above 50), the decline suggests a softening in the pace of growth for the Swedish service sector.<\/p>\n<p>In Russia, the <strong>S&amp;P Global Services PMI<\/strong> for July edged up to <strong>49<\/strong>, compared to 48.2 in June. While the index shows slight improvement, it remains in contraction territory. The <strong>Composite PMI<\/strong> followed a similar trend, rising to <strong>49.6<\/strong>, indicating that the Russian private sector is still struggling to find a path back to growth amid ongoing geopolitical constraints.<\/p>\n<h2>Analyst Updates and Tech Moves<\/h2>\n<p><strong>Rolls-Royce (<a href=\"\/stock\/RR\">RR<\/a>)<\/strong> received a significant vote of confidence from <strong>Deutsche Bank<\/strong>, which raised its price target for the engineering firm to <strong>1,705p<\/strong> from 1,325p. The upgrade reflects optimism regarding the company&#39;s turnaround strategy and long-term engine flying hour recovery.<\/p>\n<p>In the private equity and space sector, <strong>SpaceX<\/strong> shares listed on the Tradegate exchange dropped <strong>7%<\/strong>. This move aligns with recent U.S. after-hours trading activity, as markets react to broader volatility in high-growth tech valuations. Separately, <strong>Novo Nordisk (<a href=\"\/stock\/NVO\">NVO<\/a>)<\/strong> CEO Lars Fruergaard J\u00f8rgensen reiterated confidence in the company\u2019s R&amp;D platform, emphasizing the strength of its obesity and diabetes drug pipeline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Australia\u2019s S&amp;P\/ASX 200 index surged 0.9% to close at a record high of 9,227.80 points, driven by strong 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