Melius Research raises Marvell (MRVL.O) target price to $350 from $325.

Korea's National Pension Service (NPS) reported a 27.2% return for 1H, its strongest half-year since at least 2022. As of end-June NPS managed KRW 1,866 tln (USD 1.35 tln). Domestic equities returned 107.4% as the KOSPI reached record highs. Overseas equities returned 17.8%; overseas fixed income 9.22%; alternatives 9.6%; domestic bonds -3.0%. NPS attributed the results to strong domestic and global equity market performance. The preliminary 1H return already exceeds last year’s record full-year return of 18.8%.

A Lebanese broadcaster on the evening of the 27th aired an interview with Rezaei, secretary of Iran’s Supreme National Security Council. He said the U.S. shift to economic pressure indicates its military strikes have not achieved expected results. Rezaei said Iran views Lebanon’s security as part of West Asia’s security. He said any agreement between Iran and the U.S. would require ceasefires across West Asia including Lebanon, Israeli withdrawal from Lebanese territory and an end to fighting in Gaza.