Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, stocks in Asia pared gains as a rebound in technology stocks stalled. Investors cautious ahead of earnings from Samsung and SK Hynix ADRs listing in the US on Friday.

NATO leaders are due to convene at the military alliance’s annual summit starting in Turkey on Tuesday. President Trump will meet Ukrainian President Volodymyr Zelenskyy at the meeting in Ankara on Wednesday.

And EasyJet has agreed in principle to a takeover offer of more than £5 billion from Castlelake. The offer of £6.90 per share in cash was Castlelake’s fifth bid. The two sides have agreed to extend the “put up or shut up” deadline for a firm offer to 5pm London time on August 3.

Chapters:
00:00:00 – Daybreak Europe
00:00:19 – NATO Summit Countdown
00:03:05 – Asian Tech Share Rebound Loses Steam
00:07:27 – SK Hynix Seeks Access to AI Investors in $29 Billion US Listing
00:10:44 – Trump Pushes NATO Allies to Increase Defense Spending
00:15:29 – Easyjet Takeover Offer
00:19:40 – Iran Begins Funeral Procession for Late Supreme Leader
00:19:48 – Oil, Gas Tankers Cross Hormuz Via Oman-Side Route After U-Turns
00:22:34 – OPEC+ Agrees Another Modest Output Quota Hike
00:26:29 – Yen Edges Lower, Traders Eye Intervention Risk
00:31:30 – Turkey Hosting 2026 NATO Summit
00:35:18 – Germany Plans to Increase 2027 Borrowing
00:43:16 – Nadal on Life After Tennis
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India secured the safe passage of some tankers through the Strait of Hormuz. But deepening engagement with Iran could test Narendra Modi’s ties with the US as the Middle East conflict continues.
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A jury rejected Elon Musk’s claims that OpenAI under Sam Altman’s leadership betrayed its mission to benefit the public by morphing into a for-profit business, finding that he waited too long to bring his claims against the company.

Keep up with our full coverage via our link in bio.

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WTA player Caroline Wozniacki says that tennis tournaments are “moving in the right direction” as they increase prize money and accommodations https://bloom.bg/4r6ovvO

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On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu discusses the latest from the Trump Administration. On today’s show, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Vice President of the Defense & Security Department at the Center for Strategic and International Studies Emily Harding.

Chapters
00:00:00 Balance of Power: Early Edition
00:00:50 Market Update: Chip Stocks Rally While Oil Pulls Back
00:02:25 U.S. and Iran Exchange New Strikes
00:04:20 Is the Iran Ceasefire Really Over?
00:06:20 Strait of Hormuz Shipping Disruptions
00:07:45 Graham Platner Suspends Senate Campaign
00:09:20 What Happens Next in Maine’s Senate Race?
00:13:55 Political Fallout from the Platner Controversy
00:18:55 Market Update: Semiconductors Lead the Rally
00:21:20 Tech Stocks Rebound Despite Geopolitical Risks
00:24:15 Micron Surges on AI Investment Plans
00:26:40 Markets Shift Focus to Earnings Season
00:27:15 CSIS on the U.S.-Iran Conflict
00:29:20 Are the U.S. and Iran Still Negotiating?
00:32:05 How the Pentagon Planned for a Strait of Hormuz Crisis
00:34:15 Military Success vs. Strategic Objectives in Iran
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