Severe drought across parts of Europe has pushed major rivers to unusually low levels, cutting electricity output and straining inland transport networks. At Serbia’s Djerdap 1 hydropower plant on the Danube, generation has dropped to 20% of capacity, while shipping constraints have reduced inland cargo volumes linked to Rotterdam by about 10% versus normal. In Italy, regional utility A2A expects hydropower production of 3.9 TWh this year, below a historical average of 4.1 TWh. The disruption is affecting power supply and river logistics at the same time, adding pressure to electricity markets and energy systems.

Amazon shares jumped 12% in premarket trading after strong cloud revenue growth helped ease worries about returns on AI investment. Apple fell 7.3% after warning that supply constraints would weigh on growth, reviving concerns about how an expected iPhone price hike could affect demand. Nasdaq 100 E-minis led U.S. stock-index futures higher, up 1.12%, with chipmakers such as Nvidia and Micron also climbing.

Timex Group India reported Q1 FY2627 revenue of INR 218 Crores, up 30% year on year. EBITDA rose 63% to INR 35.8 Crores, while profit before tax increased 70% to INR 33.8 Crores. The company said ecommerce sales grew 67% over the quarter.

India’s securities regulator has agreed in principle to settle all pending regulatory proceedings against the National Stock Exchange (NSE) for a total of Rs 1,491.21 crore. The settlement requires a cash payment of Rs 714.74 crore, with Rs 776.47 crore to be adjusted from funds already deposited by NSE. NSE said it has already provided for the full amount in its financial statements for the year ended March 31, 2026, according to an exchange disclosure.

Apple projected slower sales growth for the quarter ending in September, guiding for 9% revenue growth versus Wall Street’s 12% expectation, sending the stock down 7.8% in after-hours trading. Chief Financial Officer Kevan Parekh confirmed the outlook. Chief Executive Tim Cook said supply constraints across the company’s supply chain contributed to the shortfall. Third-quarter sales and profit topped forecasts on strong iPhone and MacBook demand, but services revenue missed targets.

Apple reported fiscal 2024 third-quarter results with total revenue of $109.42 billion, up 16.4% year on year, beating market expectations. Earnings were $2.02 per share, including U.S. government tariff refunds. iPhone revenue rose 21.7% to a third-quarter record $54.25 billion, even as memory chip shortages pushed up Mac and iPad prices.

European equities rose on Thursday, with the pan-European STOXX 600 climbing 0.8% to its highest level since early July, supported by strong results in financials and industrials. BBVA gained nearly 5% after reporting an over 11% year-on-year rise in second-quarter net profit, while Spain’s bank-heavy indexes added 1.8%. Airbus fell 2.8% and Rentokil slumped 21%, partially offsetting broader gains. Energy stocks advanced 1.3% as Brent crude prices rose amid heightened Middle East tensions, according to agencies.

Microsoft issued an optimistic outlook, projecting strong current-quarter sales and cloud growth while signaling capital expenditures below market expectations, sending its shares up about 14% in one session. Meta Platforms fell 9% after a sharp drop in second-quarter free cash flow, highlighting the cost pressure tied to AI investment. U.S. tech stocks broadly advanced, though investors remained focused on the Federal Reserve’s uncertain rate path and mixed signals from slowing growth alongside easing inflation.

U.S. June PCE inflation fell 0.1% month on month, while the annual rate came in at 3.7%, in line with expectations. Second-quarter GDP grew 1.5%, below the market forecast of 2.1%. Initial jobless claims in the final week of July totaled 197,000, slightly better than expected. Together, the releases sent mixed macro signals, pulling U.S. Treasury and equity index pricing in opposite directions.