{"id":66446,"date":"2026-08-13T02:38:11","date_gmt":"2026-08-13T06:38:11","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/uk-economy-expands-as-maersk-and-antofagasta-post-strong-earnings\/66446\/"},"modified":"2026-08-13T02:38:11","modified_gmt":"2026-08-13T06:38:11","slug":"uk-economy-expands-as-maersk-and-antofagasta-post-strong-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/uk-economy-expands-as-maersk-and-antofagasta-post-strong-earnings\/66446\/","title":{"rendered":"UK Economy Expands as Maersk and Antofagasta Post Strong Earnings"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>UK GDP grew by 0.4% in Q2 2026<\/strong>, meeting analyst expectations and driven by a <strong>0.5% expansion in the services sector<\/strong>.<\/li>\n<li><strong>Maersk (<a href=\"\/stock\/MAERSK-B\">MAERSK-B<\/a>)<\/strong> reported a massive Q2 earnings beat with <strong>revenue of $15.76 billion<\/strong> and raised its full-year EBITDA guidance to a range of <strong>$10.5 billion to $12.5 billion<\/strong>.<\/li>\n<li><strong>Goldman Sachs<\/strong> noted that Japan possesses <strong>$1 trillion in reserves<\/strong>, providing &quot;plenty of capacity&quot; for further interventions to support the Yen.<\/li>\n<li><strong>Antofagasta (<a href=\"\/stock\/ANTO\">ANTO<\/a>)<\/strong> posted H1 2026 adjusted EPS of <strong>85.9 cents<\/strong>, surpassing estimates of 78.5 cents, while maintaining its annual production targets.<\/li>\n<li><strong>Sweden&#39;s inflation remained cool<\/strong> in July, with the CPIF (CPI with a fixed interest rate) coming in at <strong>0.7% Y\/Y<\/strong>, matching expectations.<\/li>\n<\/ul>\n<h2>UK Economic Growth and Trade Data<\/h2>\n<p>The United Kingdom\u2019s economy showed resilience in the second quarter of 2026, with <strong>GDP expanding by 0.4%<\/strong>. According to the Office for National Statistics (ONS), the growth was primarily fueled by the <strong>services sector (+0.5%)<\/strong> and a recovery in <strong>construction (+0.3%)<\/strong>, while industrial production remained flat.<\/p>\n<p>Despite the growth, the UK&#39;s trade position weakened significantly in June. The <strong>visible trade balance widened to -\u00a324.007 billion<\/strong>, far exceeding the estimated -\u00a320.4 billion. However, <strong>total business investment<\/strong> provided a positive surprise, jumping <strong>1.7% in Q2<\/strong> against expectations of a slight contraction.<\/p>\n<h2>Corporate Earnings: Maersk and Antofagasta<\/h2>\n<p>Shipping giant <strong>Maersk (<a href=\"\/stock\/MAERSK-B\">MAERSK-B<\/a>)<\/strong> delivered a robust second-quarter performance, reporting <strong>EBITDA of $2.99 billion<\/strong>, well ahead of the $2.06 billion consensus. The company benefited from higher freight rates, with its <strong>loaded freight rate hitting $2,746 per FFE<\/strong>. Maersk remains optimistic about global trade, maintaining a forecast of <strong>4% growth in global container volume<\/strong>.<\/p>\n<p>In the mining sector, <strong>Antofagasta (<a href=\"\/stock\/ANTO\">ANTO<\/a>)<\/strong> reported a strong first half of the year. While <strong>pre-tax profits of $2.00 billion<\/strong> were slightly below the $2.02 billion estimate, the company&#39;s earnings per share beat expectations. The copper miner confirmed it expects 2026 production to remain within the <strong>625,000 to 655,000 tons range<\/strong>.<\/p>\n<h2>Asian Markets and Currency Interventions<\/h2>\n<p>In Japan, <strong>Goldman Sachs<\/strong> analysts highlighted that the government still has significant &quot;firepower&quot; to defend the Yen. With <strong>$1 trillion in foreign exchange reserves<\/strong>, the bank suggests Japan has ample capacity for further market interventions if currency volatility persists. Meanwhile, <strong>Uber (<a href=\"\/stock\/UBER\">UBER<\/a>)<\/strong> is expanding its footprint in the country through a robotaxi partnership involving <strong>Nissan (<a href=\"\/stock\/NSANY\">NSANY<\/a>)<\/strong> and Hinomaru Kotsu.<\/p>\n<p>Australian markets saw a slight retreat, with the <strong>S&amp;P\/ASX 200 slipping 0.2% to settle at 9,188.50<\/strong>. In the technology sector, China&#39;s <strong>Yangtze Memory Technologies (YMTC)<\/strong> is reportedly gaining significant ground. Data from Counterpoint Research shows YMTC moved into <strong>third place globally for chip shipments<\/strong> in Q2, overtaking <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> (<a href=\"\/stock\/MU\">MU<\/a>)<\/strong> and <strong>Kioxia<\/strong>.<\/p>\n<h2>European Inflation Trends<\/h2>\n<p>Inflationary pressures across Europe appear to be stabilizing. <strong>Sweden&#39;s July CPIF<\/strong> matched estimates at <strong>0.7% Y\/Y<\/strong>, while the <strong>CPIF excluding energy<\/strong> stood at <strong>0.6%<\/strong>. These figures suggest that the Swedish central bank may have room to maintain or adjust its current monetary policy stance.<\/p>\n<p>In Switzerland, the <strong>Producer and Import Prices index<\/strong> fell <strong>0.1% month-on-month<\/strong> in July. On an annual basis, Swiss producer prices are down <strong>2.1%<\/strong>, indicating a continued deflationary trend in the industrial sector. Similarly, Norway reported a slight cooling in wage growth, with <strong>average monthly earnings rising 3.9% Y\/Y<\/strong> in Q2, down from 4.3% in the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways UK GDP grew by 0.4% in Q2 2026, meeting analyst expectations and driven by a 0.5% expansion in 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