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The European Central Bank kept interest rates unchanged amid uncertainties stemming from conflicts in the Middle East. Analysts have differing views on future rate hikes, with some institutions expecting a 25 basis point increase in June and September respectively. Inflation forecasts have been revised upward, indicating that the central bank remains alert to policy tightening.

SAP Chief Executive Officer Klein stated that the defense industry is becoming a rapidly growing area for the company, contributing approximately 10% of revenue. As global military spending increases, there is strong market demand for advanced software and artificial intelligence. SAP is providing system upgrade services to militaries in multiple countries, despite encountering some software issues. Klein emphasized that assessing the impact of global conflicts on SAP still requires time, but the company has competitive advantages in addressing complex business challenges.

Canadian consumer spending grew with unexpected momentum to start the new year, with retail sales rising 1.1% in January, with the automotive sector standing out with an increase of 2.0%. All provinces achieved growth, with Alberta showing the largest gains. Preliminary data indicates sales also increased in February, though rising gasoline prices could impact disposable income.

Flowco Holdings Inc. stock price declined 10% following its announcement to underwrite 7.8 million shares of Class A common stock at $22 per share, below the previous closing price of $23.64. The offering is expected to close on March 23, 2026, and Flowco plans to repurchase 780,000 shares. JPMorgan Chase and Jefferies are acting as joint lead underwriters.

HSBC upgraded Arm Holdings from underweight to buy with a price target of $205, believing the potential of its transformation toward AI server processors is insufficiently reflected. The bank expects server CPU royalty revenue to grow at an annual rate of 76% from 2026 to 2031, and the possibility of launching proprietary chips could significantly enhance profitability.

The Trade Desk stock price rose 3.7% after Needham analyst Laura Martin reiterated a buy rating with a $32 price target. She analyzed that the dispute with Publicis Groupe has limited financial impact, with factors supporting her optimistic outlook including new revenue sources and strategic positioning.

Apple's App Store revenue growth slowed in March, but iPhone production increased by 12% year-over-year, indicating that hardware demand remains strong. Although the service business experienced a short-term slowdown, the robust performance of the iPhone provided strong support for Apple's overall results. Overall, Apple demonstrated a good balance between hardware and its ecosystem.

US stock index futures came under pressure on Friday as investors focused on elevated oil prices and developments in the Iran conflict. Dow Jones, S&P 500, and Nasdaq futures all declined. Chevron and ExxonMobil edged higher, while FedEx stock surged 9%. Planet Labs and York Space Systems beat expectations, while Super Micro Computer dropped significantly. Figs Inc. and Firefly Aerospace rose in price.

The Trump administration released a national legislative framework aimed at addressing artificial intelligence policy, with a focus on protecting children's privacy, streamlining energy infrastructure permitting, and promoting balanced intellectual property rights. The framework calls for unified state laws to enhance innovation and plans to work with Congress on developing legislation.

UBS has downgraded its outlook on the UK stock market to neutral, believing that although valuations are reasonable and earnings growth expectations remain, the upside potential is limited. The firm forecasts the FTSE 100 index to reach a target of 10,500 points by the end of 2026 and has lowered its preference for the European banking sector to neutral. Meanwhile, information technology, industrials, and real estate are expected to benefit from structural market trends.

Switzerland announced it will not approve export licenses for weapons to the United States due to its ongoing conflict with Iran, emphasizing that its neutrality policy prohibits providing military supplies to countries engaged in conflict, with this ban remaining in effect for the duration of the conflict.

According to BNP Paribas' annual report, the bank's self-created synthetic securitization exposures in the non-trading book surged 43%, drawing regulatory scrutiny. The ECB has also urged lending institutions to rely on transactions involving the removal of entire loan portfolios to prevent circular risk transfers.

XPeng Inc. expects Q1 2026 delivery volume to decline 29.8% to 35.1% year-over-year, with total revenue also declining. In Q4 2025, net income rebounded to 380 million yuan, with full-year delivery volume reaching 429,445 units, a year-over-year increase of 125.9%, but the company still posted a loss of 1.14 billion yuan.

Unilever is negotiating to sell its food business to McCormick for approximately €29 billion, which would be its largest-scale restructuring. After the sale, Unilever will focus on beauty and personal care to address market changes and consumer preferences. Despite potential complexity in the deal, analysts believe this represents a significant test for both parties.

Investing.com -- Italy's utility company Edison (MI:EDN) said Friday its CEO stated that the company has not yet received official notification regarding the suspension timeline of natural gas supplies from Qatar Energy.
This statement came after Qatar Energy's production facilities were bombed.
Edison's CEO Nicola Monti said: "In any case, we will take necessary measures to ensure natural gas supply to our customers."
_This article was translated with the assistance of artificial intelligence. For more information, please see our terms of use._

On Friday, U.S. stock index futures came under pressure, primarily due to sharp oil price volatility and developments in the Iran conflict. Dow Jones futures fell 151 points, with markets concerned about potential energy supply disruptions. Brent crude oil prices surged to $119 per barrel at one point due to tit-for-tat attacks between Israel and Iran. Despite U.S. efforts to ease market pressures, oil prices remained elevated. FedEx, meanwhile, raised its full-year profit outlook due to strong demand.

ByteDance has agreed to sell Shanghai Moonton Technology to Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund, in a deal valued at over $6 billion. Specific financial details have not been disclosed. Moonton Technology is the developer of the popular game "Infinite Conquest."

Within the four weeks ending February 22, Western European food retail sales grew 5.4%, showing a slowdown in growth momentum. Four out of nine categories saw volume increases, with coffee and yogurt performing outstandingly. Private label market share increased, but chocolate sales declined while ice cream saw significant growth.

Recent gold prices have experienced continuous oscillations and declines, with Middle East conflicts failing to produce the expected stimulative effects. The reason lies in dollar liquidity outflows and capital withdrawals leading to gold selloffs. The dollar index is at a critical level, and attention should be paid to the impact of Federal Reserve decisions on its direction. Operationally, it is recommended to buy on dips.

Morgan Stanley warned that due to long-term damage to Qatar's Ras Laffan liquefied natural gas production line, risks of European summer natural gas storage replenishment have increased, with prices expected to rise to €90/MWh. Analysts pointed out that the market will face approximately 13 million tons of supply shock in the future, while recommending that governments need to subsidize reserves again to ensure supply security.