Potential UK prime ministerial successor Andy Burnham said reforms would be coordinated by the Prime Minister's Office and an expanded operational hub would be established in Manchester.

Nomura says recent capex by Han's Laser and Hoshine Silicon indicates accelerating optical-fiber capacity expansion driven by AI data-center buildout. The preform market retains high technical barriers and is currently led by Corning, Fujikura and Yangtze Optical Fibre and Cable, so Nomura expects supply constraints to persist short term, supporting elevated spot prices and helping Yangtze expand margins via greater AI data-center exposure. However, if new entrants successfully develop high-end products (hollow-core and multi-core fiber) and execute planned capacity additions, competition could intensify and pressure margin expansion for incumbent producers. Nomura keeps a BUY on Yangtze Optical Fibre and Cable (06869.HK) with a HK$266 target, based on FY2027 EPS of RMB9.75 and a 23.7x forward P/E.

Energy prices have eased since a US‑Iran peace agreement, but Spain’s inflation remains well above the ECB’s 2% target. June harmonized CPI (HICP) rose 3.6% YoY, unchanged from May. Electricity and gas costs were the main upward contributors; gasoline prices partially offset the rise. This is the first major inflation print after the ECB’s recent rate increases; other major-economy inflation data are due Tuesday and euro‑area HICP on Wednesday. Markets had been expecting a slowdown and have pared back ECB rate‑hike bets.