At its 1H2026 results briefing, Haixing Power said its smart-water business has completed localized manufacturing capacity in Brazil and South Africa. The company is participating in the smart-meter project of Brazil’s largest water utility. Year-to-date it has secured large-scale smart-meter contracts in three other Latin American countries, and orders from Africa have risen strongly YoY.

HSBC analysts say European luxury stocks are unlikely to improve in the near term as H2 looks more challenging. LVMH and Burberry extended recent declines after brokers cut both to hold, with LVMH viewed as a soft-luxury bellwether facing a weak outlook and Burberry seen as having limited upside after recent repositioning. The sector is under pressure from weak Asian demand and reduced tourist spending tied to the Middle East conflict. Goldman Sachs’ luxury basket is down 13% YTD and LVMH’s P/E has dropped to a 10-year low. HSBC flags near-term downside risks that could affect the sector: slowing mainland China growth momentum; negative social-media backlash from an LVMH–Molly Tea trademark dispute; and easing sales growth in Korea and North America.

Brazil's planning and budget minister said two diesel subsidies will be implemented by month-end. A BRL1.00/liter subsidy will be added on top of a BRL1.12/liter subsidy.