ECB executive board member Panetta said the latest energy shock must not be regarded as temporary.

Super typhoon Bavi formed on July 2 and has rapidly intensified; its cloud system now exceeds 1,000 km in diameter. Forecasts show Bavi will begin affecting Chinese waters and coasts from July 9 and may make landfall on China's coast on July 11. The main path uncertainty is its proximity to Taiwan — it could pass offshore or land in northern Taiwan before tracking north. Landfall intensity is expected to be very strong; wind and rain impacts will start from July 9, first affecting the southeast coast, waters east of Taiwan and most of the East China Sea. Heavy precipitation will begin on July 9, hitting Taiwan first and then spreading to East China, central China and North China.

Nanhua Futures said in a profit forecast it expects 1H2026 net profit attributable to parent of 375-405 mln yuan, a 62.16-75.13% YoY increase. The company said overall profitability improved during the period, overseas financial services made a significant contribution, and its proprietary clearing system layout advantage remained evident.