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3i Infrastructure plc (LSE:3IN) posted a solid performance in the first half of its financial year, reporting an 18% year-on-year increase in total income and non-income cash. The investment firm achieved a total return of 7.4% on its opening net asset value (NAV), placing it on track to surpass its annual target range of 8–10%. NAV per share advanced to 407.9 pence, while the interim dividend was declared at 6.725 pence per share. The company also reaffirmed its full-year FY26 dividend target of 13.45 pence per share, representing a 6.3% rise compared to the prior year.

Portfolio growth remained a key performance driver, supported by robust earnings from TCR, which continued to expand into new regions and benefit from increasing demand for electric ground support equipment (GSE). ESVAGT, another major holding, experienced slight delays due to the late arrival of a new vessel but maintained its leadership in Europe’s offshore wind service operation vessel (SOV) sector.

The company’s strong profitability and prudent balance sheet, reinforced by targeted investments and refinancing activity, highlight its financial resilience. Although management identified room for improvement in revenue growth and cash flow conversion, 3i Infrastructure’s undervaluation and reliable dividend yield make it a compelling option for income-focused investors. Recent corporate developments further consolidate its position in the infrastructure investment landscape.

More about 3i Infrastructure

3i Infrastructure plc is a Jersey-based, closed-ended investment company listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The firm focuses on responsible infrastructure investments designed to generate sustainable, long-term returns for shareholders. Its portfolio spans assets with low earnings volatility, inflation-linked cash flows, and defensive value characteristics—well aligned with enduring global structural trends.

European equities advanced strongly on Monday as investors reacted positively to signs that the United States is close to ending its record-breaking government shutdown.

Optimism spread across global markets after the U.S. Senate voted 60-40 to approve a bipartisan bill aimed at reopening federal agencies and ending the 40-day shutdown, the longest in American history. The legislation would provide funding through January and guarantee back pay for furloughed federal employees.

By midday trading, major European indices were firmly in positive territory. The German DAX rose 1.8%, the French CAC 40 gained 1.5%, and London’s FTSE 100 added 0.9%, mirroring the upbeat global sentiment.

In company news, Stabilus (TG:STM) jumped higher despite reporting a sharp drop in preliminary full-year net profit, which it attributed to one-off charges, market uncertainty, and U.S. trade policies.

Meanwhile, Salzgitter (TG: SZG) fell after cutting its full-year outlook for the second time in 2025, reflecting continued pressure on the steel sector.

Reinsurer Hannover Re (TG:HNR1) moved strongly higher after raising its full-year earnings guidance, buoyed by robust performance in its reinsurance business.

Among London-listed stocks, Diageo (LSE:DGE) climbed after the drinks giant announced that Sir Dave Lewis, former CEO of Tesco, will take over as chief executive starting January 2026, a move seen by investors as strengthening the company’s leadership and strategic direction.

Overall, European markets opened the week with strong momentum, supported by improving global risk appetite and hopes that the end of the U.S. government shutdown could remove one of the lingering uncertainties for investors.

U.S. stock futures pointed to a strongly higher open on Monday, signaling that investors are ready to buy back into equities after last week’s losses, as optimism grows that the record-long U.S. government shutdown could soon be over.

Momentum picked up after the Senate voted 60-40 to advance a temporary funding measure aimed at reopening federal agencies and restoring pay for furloughed workers. The bill, which still needs final approval from the Republican-controlled House of Representatives, received backing from eight Democratic senators in exchange for a future vote on extending enhanced Obamacare tax credits.

While procedural delays could still slow the bill’s passage, markets welcomed the vote as a major step toward breaking the impasse that has weighed on business and government operations for over a month.

Although Wall Street had remained relatively resilient through the shutdown, the prospect of an imminent resolution has provided a clear catalyst for Monday’s rebound, particularly as investors look for direction following concerns about stretched valuations in the technology sector.

The reopening of the government would also mean the release of key economic data that has been held back in recent weeks, restoring much-needed visibility for both traders and policymakers.

“A key impact on the markets of the impasse, beyond the hit to the wider economy, has been the lack of data as key releases on areas like the jobs market have been delayed,” said Russ Mould, Investment Director at AJ Bell. “This has created a considerable dose of the uncertainty which markets famously hate and it is also hampering the ability of the Federal Reserve to make informed decisions on interest rates. In this context, it’s not a surprise to see investors react positively to signs of progress.”

On Friday, stocks staged a late-session rebound following steep early losses, with the Dow Jones Industrial Average and S&P 500 both closing slightly higher, while the Nasdaq Composite slipped 0.2% to 23,004.54. The tech-heavy index still ended the week down 3.0%, its worst performance since April, while the S&P 500 and Dow lost 1.7% and 1.2%, respectively.

The modest recovery coincided with reports that Senate Majority Leader Chuck Schumer had offered Democratic support for a short-term funding bill to reopen the government in exchange for Republican cooperation on healthcare-related provisions.

Earlier in the week, investor sentiment had been rattled by mounting valuation anxiety, particularly around AI-related stocks. Palantir Technologies (NYSE: PLTR) fell sharply despite strong quarterly results, while market heavyweights Goldman Sachs (NYSE: GS) CEO David Solomon and Morgan Stanley (NYSE: MS) CEO Ted Pick both warned that equities could face a significant correction over the next one to two years.

Adding to the cautious mood, a University of Michigan survey showed consumer sentiment plunging to 50.3 in November, far below expectations and the lowest level since June 2022. Survey Director Joanne Hsu said the drop reflected growing concern among consumers about the economic toll of the prolonged shutdown.

Still, certain sectors managed to shine. Computer hardware stocks rallied 3.2% after an early slump, while gold miners climbed 2.3% as gold prices surged past $4,000 an ounce. Gains were also seen across natural gas, airline, and commercial real estate stocks, offsetting weakness in semiconductor and networking names.

With optimism over the shutdown’s resolution and the return of delayed economic data, analysts believe the coming week could mark a short-term turning point for equities — especially if easing uncertainty helps restore investor confidence heading into year-end.

Oil prices advanced on Monday, supported by growing optimism that the U.S. government shutdown may soon come to an end, potentially boosting demand in the world’s largest oil-consuming nation. The positive sentiment helped offset ongoing worries about rising global supply levels.

By 07:51 GMT, Brent crude futures climbed 39 cents, or 0.61%, to $64.02 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 43 cents, or 0.72%, to $60.18 per barrel.

The shutdown, which has stretched into its 40th day, appears to be nearing resolution after the Senate moved toward a vote on Sunday to reopen the federal government — a development that lifted global market sentiment.

“The imminent reopening is a welcome boost, restoring pay to 800,000 federal workers and restarting vital programs that will lift consumer confidence, activity and spending,” said Tony Sycamore, market analyst at IG.

“This should also help improve risk sentiment across markets and cause a rebound in WTI prices toward $62 a barrel,” he added.

While the political progress has brightened the outlook for energy demand, analysts remain cautious about potential fallout from flight cancellations, which could temporarily weigh on U.S. jet fuel consumption. Airlines canceled more than 2,800 flights and delayed over 10,200 on Sunday — the worst day of travel disruptions since the start of the shutdown.

Both Brent and WTI posted losses of about 2% last week, marking their second straight weekly decline, as traders fretted over a possible supply glut. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) recently agreed to a modest output increase in December, while pausing further hikes during the first quarter to prevent an oversupply situation.

In the U.S., crude stockpiles have continued to rise, and the volume of oil stored on ships in Asian waters has nearly doubled in recent weeks. The buildup follows tighter Western sanctions, which have restricted oil imports to China and India, while limited import quotas have curbed demand among independent Chinese refiners.

Meanwhile, Indian refiners are increasingly sourcing crude from the Middle East and the Americas to offset the loss of Russian barrels under sanctions.

Russian producer Lukoil is also facing heightened disruption as the U.S. deadline for companies to end business ties with the firm approaches on November 21, after a planned sale to Swiss trader Gunvor fell through.

Adding to oversupply concerns, U.S. President Donald Trump’s decision to grant Hungary a one-year exemption from sanctions on Russian oil imports could bring more barrels into the global market, according to Sycamore.

Gold prices climbed sharply in Asian trading on Monday, regaining the $4,000 per ounce level as a softer U.S. dollar and renewed optimism about an end to the government shutdown lifted investor sentiment.

The precious metal also benefited from continued speculation that the Federal Reserve may cut interest rates in December, though uncertainty remains high due to limited economic data amid the ongoing shutdown.

By 23:43 ET (04:43 GMT), spot gold rose 1.4% to $4,053.72 per ounce, while December gold futures gained 1.3% to $4,062.45 per ounce.

Metals Rally on Softer Dollar and Rate Cut Bets

Gold and other precious metals extended their gains as the U.S. dollar weakened, continuing a mild downtrend from last week. Traders maintained expectations that the Fed could trim rates by 25 basis points in December, a view reinforced by recent signs of strain in the U.S. labor market.

Data from Challenger, Gray & Christmas revealed that October saw the highest number of layoffs in nearly two decades, fueling concerns about economic momentum and prompting markets to price in a 61.9% probability of a rate cut, according to the CME FedWatch Tool.

The broader metals complex also moved higher alongside gold. Spot platinum climbed 1.4% to $1,571.92 per ounce, while spot silver advanced 1.8% to $49.22 per ounce.

Markets Cheer Progress Toward Ending U.S. Shutdown

Investor sentiment was further buoyed by political developments in Washington, where the U.S. Senate voted 60–40 to advance a spending bill aimed at reopening the federal government after its longest shutdown in history.

The measure represents a breakthrough after weeks of partisan gridlock and paves the way for a final vote expected in the coming days. A resolution would not only restore federal operations but also resume the release of key U.S. economic data, giving markets fresh insight into the health of the economy.

With the dollar under pressure and hopes rising for a political compromise, gold’s appeal as a hedge against uncertainty gained renewed strength, pushing prices solidly above the symbolic $4,000 threshold.

The U.S. dollar weakened on Monday, pressured by mounting optimism that the prolonged U.S. government shutdown may soon be resolved, prompting investors to shift away from the safe-haven currency.

At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against six major peers, fell 0.1% to 99.370, extending the mild losses recorded last week.

Shutdown Nearing Resolution?

Market sentiment improved sharply after the U.S. Senate voted to advance a funding bill that would keep the government open through January, a move seen as the first real step toward ending the 40-day shutdown, which has taken a notable economic toll.

On prediction market Polymarket, the probability of the shutdown ending before November 15 surged to 92%, reflecting renewed confidence among investors.

Economic indicators, however, continue to show strain. On Friday, the University of Michigan’s consumer sentiment index fell to its lowest level in nearly three and a half years, while White House economic adviser Kevin Hassett warned that the U.S. economy could contract in the fourth quarter if the deadlock persists.

“While some might argue that the end of the shutdown could be a risk-on, dollar-negative impulse for the FX markets, its impact may be more mixed,” said analysts at ING in a note.

They added, “Late last week, the dollar was under pressure on job layoffs and rhetoric that the U.S. economy could contract in the fourth quarter should the shutdown extend. At the same time, Friday’s release of poor US consumer sentiment data was read as a dollar negative. Progress to end the shutdown may be felt more by risk-sensitive FX cross rates than the dollar.”

Euro Edges Higher

The euro strengthened modestly, with EUR/USD up 0.1% to 1.1579, supported by comments from European Central Bank Vice President Luis de Guindos, who said in an interview that ECB interest rates are currently at the appropriate level, barring major shifts in the economic outlook. His remarks suggested that further rate cuts are unlikely in the short term.

De Guindos added that the ECB must remain “very prudent and cautious” in setting rates, even as uncertainty has eased in recent months following the EU–U.S. trade deal.

The British pound also inched higher, with GBP/USD rising 0.1% to 1.3178 ahead of a week packed with key U.K. economic data releases.

“We still think the prospects of a December 25bp cut from the Bank of England are underpriced,” ING analysts said. “The market now attaches just a 60% probability to such an outcome. Feeding into the BoE story will be tomorrow’s release of the September wage data. This is expected to slow further and give the BoE greater confidence that inflation is less persistent than first thought.”

Yen Weakens Following Fiscal Policy Remarks

In Asia, the Japanese yen slipped, with USD/JPY rising 0.4% to 153.98, after comments from Prime Minister Sanae Takaichi, who announced plans to set a new multi-year fiscal target that would allow more flexible government spending, signaling a shift away from Japan’s prior focus on fiscal consolidation.

Chinese Yuan Steady; Antipodean Currencies Gain

The Chinese yuan was relatively stable, with USD/CNY down 0.1% to 7.1173, after data showed that consumer price inflation exceeded expectations in October, while producer price inflation contracted at a slower-than-anticipated pace.

Meanwhile, the Australian and New Zealand dollars gained ground on improved risk sentiment. The AUD/USD climbed 0.6% to 0.6532, and the NZD/USD advanced 0.3% to 0.5642, as investors shifted toward higher-yielding assets amid hopes of an imminent U.S. government reopening.

U.S. stock futures were up on Monday after the Senate voted to end ending the long-lasting government shutdown. This also prompted gains for gold and crude oil. The COP30 climate conference begins later in the session, Pfizer has won the bidding war for obesity drug developer Metsera.

Shutdown breakthrough sparks optimism

Global markets started the week on a strong footing after the U.S. Senate voted to advance a bill aimed at ending the country’s longest-ever government shutdown. The move boosted sentiment across asset classes, with U.S. stock futures, gold, and crude oil all trading higher early Monday.

Lawmakers voted 60–40 late Sunday to move forward with a spending bill that would fund the federal government through January 30, 2026. The bipartisan effort saw eight Democratic senators backing a Republican proposal that includes commitments to restore jobs for furloughed workers and extend select healthcare subsidies. The bill will now face a final Senate vote, followed by approval from the House of Representatives before it can be signed into law by President Donald Trump.

The vote marks significant progress toward resolving a shutdown that has entered its 40th day, the 15th government closure since 1981 and the second under Trump’s presidency, with estimates suggesting tens of billions in lost GDP.

Market reaction

At 03:00 ET, S&P 500 futures were up 0.7%, Nasdaq 100 gained 1.3%, and Dow Jones rose 0.2%, as investors welcomed the potential reopening of the federal government. The news follows a tough week for Wall Street, with the NASDAQ Composite down 3%, the S&P 500 falling 1.6%, and the Dow losing 1.2%.

Meanwhile, consumer sentiment dropped to a three-and-a-half-year low in early November as prolonged uncertainty dampened confidence. White House economic adviser Kevin Hassett warned that if the shutdown persisted, the U.S. economy could contract in Q4.

COP30 summit opens in Brazil

The COP30 climate summit begins Monday in Belém, Brazil, marking 30 years since international climate talks began, leading to the 1992 U.N. Climate Treaty. The event takes place at the mouth of the Amazon River—a symbolic choice emphasizing the urgency of rainforest protection.

The conference is expected to be highly contentious, as the Trump administration has opted not to send senior officials and plans to withdraw from the treaty, a move that has sparked criticism from environmental groups.

Pfizer clinches $10B Metsera acquisition

In corporate news, Pfizer (NYSE:PFE) has won the bidding war for Metsera, an obesity-drug developer, in a $10 billion deal, defeating Danish rival Novo Nordisk (NYSE:NVO). Metsera accepted Pfizer’s improved offer on Friday, citing potential antitrust hurdles in Novo’s bid.

The acquisition gives Pfizer a long-awaited entry into the fast-growing obesity treatment market, which analysts predict could reach $150 billion by the next decade. The win is a setback for Novo Nordisk, which has been locked in fierce competition with Eli Lilly (NYSE:LLY) for market leadership.

Commodities rise: gold and oil rebound

Gold surged above $4,000 an ounce, gaining 1.9% to $4,077.00, as a weaker dollar and expectations of a Federal Reserve rate cut in December supported demand for safe-haven assets.

Oil prices also advanced, buoyed by optimism that an end to the shutdown could lift U.S. demand. Brent crude rose 0.8% to $64.11 a barrel, while WTI gained 0.9% to $60.28. Both benchmarks fell around 2% last week, their second consecutive decline, after OPEC+ decided to slightly raise production in December but pause further increases in early 2026 to avoid oversupply.

European markets opened the week in positive territory, following a global upswing after the U.S. Senate approved a key measure to end the nation’s longest-ever government shutdown.

By 08:15 GMT, Germany’s DAX index was up 1.5%, France’s CAC 40 gained 1%, and the UK’s FTSE 100 climbed 0.6%, reflecting broad investor optimism.

Optimism driven by U.S. shutdown progress

Investor sentiment strengthened after the U.S. Senate voted 60–40 to advance a spending bill for consideration, following a bipartisan agreement between eight Democratic senators and Republican leaders to reopen the federal government. The potential breakthrough eased concerns over the prolonged shutdown, which reached its 40th day on Sunday and had disrupted key sectors, including air travel. White House economic adviser Kevin Hassett warned that if the shutdown persisted, the U.S. economy could contract in Q4, raising global growth concerns.

COP30 Summit begins in Brazil

Meanwhile, the COP30 global climate summit opened Monday in Brazil, marking 30 years since the start of global climate negotiations that led to the 1992 U.N. climate treaty. The event is expected to be contentious, particularly after the Trump administration’s decision not to send senior representatives and to withdraw from the accord altogether.

Salzgitter cuts guidance; Hannover Re raises forecast

In corporate updates, German steelmaker Salzgitter (TG:SZG) lowered its full-year guidance for the second time in 2025, citing persistent market weakness despite recent price stabilization. In contrast, reinsurer Hannover Re (BIT:1HANN) raised its earnings forecast after reporting a 7.7% increase in nine-month group net income.

In the UK, Diageo (LSE:DGE) confirmed the appointment of Sir Dave Lewis as CEO effective January 1, 2026. Lewis, currently chair of Haleon (LSE:HLN), previously led Tesco (LSE:TSCO) from 2014 to 2020 and held senior roles at Unilever (LSE:ULVR) for nearly three decades.

Oil prices edge higher

Crude prices advanced Monday amid optimism that the end of the U.S. shutdown could lift demand from the world’s largest oil consumer. Brent crude rose 0.8% to $64.14 per barrel, while WTI gained 0.9% to $60.31. Both benchmarks fell about 2% last week, marking a second consecutive weekly loss after OPEC+ agreed to modestly increase output in December while pausing additional hikes in early 2026 to avoid oversupply.

Diageo (LSE:DGE) has announced the appointment of Sir Dave Lewis as its new Chief Executive Officer, effective January 1, 2026. Lewis brings a wealth of experience from leading global consumer goods companies, positioning him to steer Diageo through evolving market conditions while driving growth and enhancing shareholder value.

Previously, Lewis served as CEO of Tesco and held senior leadership roles at Unilever, where he developed deep expertise in brand strategy, global operations, and consumer engagement. He currently serves on the boards of Haleon and PepsiCo, further underscoring his strong credentials in the fast-moving consumer goods sector. His appointment marks a pivotal step in Diageo’s strategic leadership transition as the company continues to focus on sustainable growth and market innovation.

Financially, Diageo’s outlook remains supported by steady revenue growth and operational efficiency, even as profitability and cash flow pressures persist. Technical analysis currently signals a bearish trend, though valuation metrics remain favorable, with a reasonable P/E ratio and attractive dividend yield adding to its long-term investment appeal.

More about Diageo

Diageo is a global leader in beverage alcohol, with an extensive portfolio spanning spirits and beer brands, including Johnnie Walker, Smirnoff, Baileys, Tanqueray, and Guinness. Operating in nearly 180 countries, the company is dual-listed on the London and New York Stock Exchanges. Diageo continues to focus on premiumization, sustainability, and innovation as key pillars of its global growth strategy.

Kainos Group plc (LSE:KNOS) has reported solid first-half results for 2025, with revenue rising 7% to £196.1 million, supported by broad-based growth across all divisions. Although adjusted pre-tax profit declined due to higher operating costs, the company reaffirmed its full-year profit expectations and announced a £30 million share buyback program to enhance shareholder returns.

The company’s Workday Products division delivered standout performance, achieving a 19% increase in annual recurring revenue (ARR) and surpassing the $100 million ARR milestone for the first time. The Digital Services division also recorded substantial gains, particularly within the healthcare sector, while the acquisition of Davis Pier further strengthened Kainos’s North American footprint. In parallel, its growing AI business continues to demonstrate leadership in providing AI-driven solutions for the public sector.

Financially, Kainos Group maintains a strong balance sheet and profitability, which underpin its stable growth trajectory. Technical indicators suggest bullish momentum, though the company’s high price-to-earnings ratio implies a premium valuation, slightly moderating near-term upside potential.

More about Kainos Group plc

Kainos Group plc is a UK-based IT solutions provider specializing in Digital Services, Workday Services, and Workday Products. The company delivers cutting-edge technology solutions across sectors such as healthcare, public sector, and enterprise markets, with a strong focus on AI innovation and global expansion. Through its combination of technical expertise and strategic acquisitions, Kainos continues to strengthen its position as a leader in digital transformation and enterprise software solutions.