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European equity markets began Monday with modest gains as investors monitored another rise in oil prices above the $100-per-barrel mark while the conflict involving Iran moved into its third week.

At 08:04 GMT, the pan-European Stoxx 600 was up 0.1%. Germany’s DAX also rose 0.1%, France’s CAC 40 gained 0.1%, and the UK’s FTSE 100 advanced 0.4%.

The joint military campaign by the United States and Israel against Iran continues to spread instability across the Middle East. Saudi Arabia reported intercepting more than 60 drones flying over its territory, although the country’s defense ministry did not specify where the drones originated or what their intended targets were.

At the same time, U.S. President Donald Trump has appealed to seven countries to support Washington in safeguarding the Strait of Hormuz, a crucial maritime route that carries roughly one-fifth of the world’s oil supply. However, Trump did not confirm whether any governments have agreed to participate.

Tehran has effectively halted tanker traffic through the strait, which is bordered by Iran on three sides. The disruption has pushed energy prices sharply higher and increased concerns about the outlook for the global economy.

For Europe in particular, the disruption risks reigniting inflation pressures in a region that only recently appeared to have brought price growth largely under control. Europe imports a large share of its energy through the strait, meaning the stoppage could further weigh on an economy that has already shown signs of stagnation.

The surge in oil and gas prices has also pushed borrowing costs higher across the continent, reflecting fears that the European Central Bank could once again face pressure to consider tightening monetary policy. The Stoxx 600 has already come under strain, falling more than 5% from the peak reached before the conflict began.

The ECB is set to announce its latest policy decision later this week, alongside several other major central banks including the Federal Reserve. Despite the escalation in the Middle East, economists surveyed by Reuters expect the ECB to keep interest rates unchanged for the remainder of 2026.

“Central banks are not expected to make major changes to monetary policy this month, but watch closely for how the Fed and others assess the inflation outlook after the surge in oil prices,” Laurence Booth, Global Head of Markets at CMC Markets, told Investing.com.

Oil prices rise

Oil markets were volatile on Monday as traders remained wary of potential supply disruptions linked to the Middle East crisis.

Prices briefly eased after Trump called on other nations, including China, to assist in reopening shipping lanes through the Strait of Hormuz.

Brent crude futures — the global benchmark — were up 2.7% at $105.90 per barrel, while U.S. West Texas Intermediate crude futures rose 2.0% to $98.75 a barrel by 04:06 ET. Earlier in the session, oil prices had surged by as much as 3% before paring gains and briefly trading flat.

The rapid convergence of artificial intelligence and blockchain infrastructure is creating an entirely new technological landscape. At the centre of this emerging ecosystem is Astrid Intelligence plc (AQSE:ASTR), a company focused on building and investing in infrastructure for decentralized machine intelligence networks.

In a recent interview on The Watchlist, Chairman Mark Creaser and CEO Siam Kidd outlined the company’s strategy, its involvement in the rapidly growing Bittensor ecosystem, and how it intends to capture value from the next generation of AI technologies.

AI Investment — Not a Crypto Gamble

Despite operating within a blockchain-based environment, Astrid Intelligence positions itself first and foremost as an AI investment company.

Creaser explained that while the infrastructure supporting future AI systems may rely heavily on blockchain technology, the company’s core focus is firmly on AI businesses themselves.

The confusion, he noted, comes from the fact that many next-generation AI systems will operate using crypto-based financial rails. As autonomous AI agents become more common, traditional banking systems may no longer be practical for machine-to-machine transactions.

Rather than opening bank accounts or using debit cards, AI agents will likely transact using blockchain networks and digital tokens. In that context, crypto becomes infrastructure, not the end goal.

“Astrid Intelligence makes investments into AI businesses,” Creaser said. “We’re not gambling on crypto, we’re investing in the future of machine intelligence.”

Understanding Bittensor

A major focus for Astrid Intelligence is the Bittensor ecosystem, a decentralized network designed to coordinate and reward machine learning systems.

Kidd described Bittensor as difficult to explain, much like trying to explain the internet in the late 1990s, but offered a simple analogy.

Think of it as similar to Alphabet Inc., the technology holding company behind Google, YouTube, and DeepMind.

Alphabet sits at the top as a corporate umbrella with numerous projects operating beneath it. Investors who want exposure to that ecosystem can simply buy Alphabet stock.

Bittensor operates in a similar way,  but within a decentralized blockchain environment.

Instead of traditional shares, the ecosystem’s value capture mechanism is its native token, TAO. Beneath that umbrella are dozens of AI-focused projects, each working on different machine learning challenges.

Currently, there are more than 100 individual AI sub-networks within Bittensor, each contributing specialized capabilities to the broader decentralized intelligence network.

Astrid’s Strategy: Building the Infrastructure

Astrid Intelligence has been operating within the Bittensor ecosystem for over a year and has become a recognized participant in the space.

Rather than focusing solely on token speculation, the company is pursuing a multi-layer strategy designed to capture value throughout the decentralized AI stack.

Its approach includes:

1. Infrastructure Development
Astrid is building and acquiring critical infrastructure, including validator nodes and other systems that help power the Bittensor network.

2. Ecosystem Investment
The company is also investing directly into AI projects within the ecosystem, allowing it to participate in the growth of emerging machine intelligence startups.

3. Network Participation
Through validator operations and ecosystem participation, Astrid plays an active role in maintaining and scaling the network.

A Parallel to the Early Internet

To illustrate Astrid’s positioning, Creaser compared the opportunity to the early days of the internet.

During the late 1990s and early 2000s, the companies that generated lasting value were often those that built the infrastructure, the data centres, fiber optic cables, and networking backbone that allowed the internet to scale.

Astrid Intelligence aims to play a similar role in the decentralized AI economy.

Rather than simply building applications, the company is helping construct the “roads and railways” of decentralized artificial intelligence, the foundational systems that will enable machine learning networks to grow.

A Rapidly Expanding Ecosystem

The decentralized AI sector is still small relative to the broader AI industry, but it is expanding rapidly.

Centralized AI platforms, dominated by large technology companies, have grown at an extraordinary pace. However, Kidd believes decentralized alternatives may soon accelerate even faster.

In his words, when comparing growth curves, centralized AI is steep, but decentralized AI could represent a near-vertical expansion as adoption increases.

For Astrid Intelligence plc, the goal is to position itself early within this emerging ecosystem and build the infrastructure that could underpin the next generation of AI systems.

Learn more about Astrid Intelligence plc: https://astrid.global

Shares in Cab Payments Holdings PLC (LSE:CABP) climbed sharply on Monday, rising 12.9% after the company disclosed that it had received a potential takeover approach from StoneX Group.

StoneX said it had put forward an all-cash proposal to acquire the payments firm at 95 pence per share. The indicative offer represents a 32% premium to CAB Payments’ undisturbed closing price of 72 pence on January 30 and an 11% premium to the 85 pence per share offer made by the Helios Consortium on March 2.

CAB Payments confirmed that its independent board is currently reviewing the proposal from StoneX. As part of this process, directors will also assess the group’s financial and operational performance for the 2025 fiscal year.

StoneX said it believes there is strong strategic alignment between CAB Payments’ operations and its own payments division. According to the company, combining the two businesses could create a specialist platform focused on payments across emerging markets. StoneX added that it believes it would be the most suitable long-term owner for CAB Payments.

Economic prospects in the euro area are coming under increasing strain from the conflict in the Middle East and tighter financial conditions, according to a recent note from Barclays Research. The bank expects the European Central Bank to leave its key deposit rate unchanged at 2% at the March 19 policy meeting.

Barclays now forecasts eurozone real GDP growth of 1.1% in 2026, down from 1.5% expected for 2025. At the same time, headline inflation is projected to rise to 2.4% this year—0.6 percentage points higher than the brokerage’s December estimate—before easing back to around 2% by 2027.

According to Barclays’ nowcasting model, the eurozone economy could contract by 0.1% quarter-on-quarter in the first quarter of 2026, weaker than both the bank’s own forecast and the ECB’s projection of 0.3% growth.

“The ECB will do what is necessary to maintain medium-term inflation at target,” Barclays expects President Christine Lagarde to reiterate during the press conference following the meeting. The Governing Council is also likely to emphasize that policy rates are “not on a predetermined path.”

Recent economic indicators point to weakening momentum in the region’s industrial sector. Euro area industrial production fell 1.5% month-on-month in January, including declines of 1.3% in Germany, 0.6% in Italy and 0.5% in Spain. In Germany, factory orders plunged 11.1% from the previous month, reversing most of the gains recorded in the second half of 2025.

Barclays outlined a scenario in which Brent crude stabilizes around $100 per barrel and TTF natural gas remains near €70 per megawatt-hour—roughly 40% and 120% higher respectively since the start of the conflict. Under these conditions, the bank estimates eurozone GDP could be about 0.6 percentage points lower after one year, while consumer prices might increase by as much as 1.4 percentage points within 12 months.

The bank also suggested that any fiscal response from governments would likely be “more limited and more targeted” than the measures implemented after Russia’s invasion of Ukraine, when emergency support amounted to roughly 3% of nominal GDP.

Among the eurozone’s four largest economies, Spain is expected to remain the most resilient, with Barclays projecting growth of 2.3% in 2026. Germany’s economy is forecast to expand by 0.9%, France by 1.1% and Italy by 0.7%.

France is also seen facing the heaviest fiscal pressures, with its budget deficit expected to reach 5.2% of GDP in 2026 and public debt rising to 118.6% of GDP.

On the trade front, the United States launched an investigation on March 12 into EU trade practices to determine whether they contribute to excessive manufacturing capacity.

In the political arena, France will hold the first round of municipal elections on March 15. Barclays highlighted that the performance of Marine Le Pen’s Rassemblement National could serve as an indicator of the party’s momentum ahead of the country’s presidential election in 2027.

SRT Marine Systems (LSE:SRT) reported strong performance for the six months to 31 December 2025, with revenue almost doubling year-on-year to £51.1 million and profit before tax increasing 48% to £3.1 million. Growth was largely driven by the company’s sovereign maritime surveillance systems division. Gross cash rose to £41.6 million, including substantial restricted funds linked to ongoing projects, while an order book of roughly £350 million across five sovereign clients and continued cash inflows support management’s confidence in meeting market expectations.

The group’s systems segment continues to expand rapidly, supported by a visible contract pipeline estimated at around £1.8 billion. During the period, SRT secured a £15.3 million follow-on contract from an existing customer and signed a new £195 million sovereign maritime surveillance agreement that is awaiting formal activation. Operational progress also included the first unmanned surface surveillance vessel programme becoming fully operational in Kuwait. After the reporting period, the company launched its NEXUS VHF/AIS communications system, further enhancing its technology portfolio and strengthening its position as a provider of integrated maritime domain awareness solutions.

Despite strong revenue growth and improving operational efficiency, the company’s outlook is tempered by weak cash flow dynamics. Technical indicators remain negative with limited momentum, although the shares may be approaching oversold levels. Valuation also appears stretched, with a very high price-to-earnings ratio and no dividend yield to provide additional support.

More about SRT Marine Systems

SRT Marine Systems is a UK-based technology company specialising in maritime intelligence, surveillance and navigation safety systems for civil defence and commercial maritime users. Its solutions are deployed by sovereign organisations such as coast guards, fisheries authorities and maritime agencies, as well as by commercial shipping and leisure vessel operators seeking improved maritime domain awareness and digital navigation capabilities.

Avacta Therapeutics (LSE:AVCT) has initiated a Phase 1 clinical trial for FAP-Exd (AVA6103), its second program to enter the clinic and the first sustained-release therapy developed using the company’s pre|CISION peptide-drug conjugate platform. The study has begun enrolling patients at specialist oncology centres in Virginia and Texas. The investigational treatment is designed as a fibroblast activation protein (FAP)-activated form of exatecan, a potent topoisomerase I inhibitor, with the goal of delivering the drug’s effects more precisely within solid tumours.

The Phase 1a dose-escalation study will evaluate safety, tumour and plasma pharmacokinetics, and early indications of therapeutic activity in adults with advanced cancers, including pancreatic, cervical and vulvar, gastric and gastroesophageal junction, and small cell lung cancer. Patients will receive the therapy on either biweekly or triweekly dosing schedules. Avacta’s chief executive noted that AVA6103 has progressed into clinical testing more quickly than is typical for comparable drug development timelines. The company believes the therapy could enhance the anti-tumour potential of exatecan while reducing the severe toxicity that previously restricted its clinical use, representing an important step forward in expanding Avacta’s oncology pipeline.

Despite the clinical progress, the company’s overall outlook remains constrained by weak financial performance and bearish technical indicators. While pipeline advancement provides some positive momentum, ongoing funding needs and the absence of major partnerships continue to present challenges. Valuation metrics are also limited by negative earnings and the lack of dividend yield.

More about Avacta Group plc

Avacta Therapeutics, part of Avacta Group plc, is a clinical-stage biopharmaceutical company developing targeted oncology therapies using its proprietary pre|CISION platform. The technology is designed to release highly potent cytotoxic drugs selectively within the tumour microenvironment, aiming to improve treatment effectiveness while minimising systemic side effects. The company’s pipeline includes pre|CISION peptide-drug conjugates and Affimer-based drug conjugates intended to deliver next-generation cancer therapies with improved precision.