Iran Seeks to Bar US & Israeli Ships from Hormuz | Daybreak Europe 8/7/2026

Watch on YouTube ↗  |  August 07, 2026 at 07:01  |  46:01  |  Bloomberg Markets
Speakers
Ben Ram Cross — Asset Strategist, Bloomberg
Madeleine Ronner — Senior Global Equities Portfolio Manager, DWS
Armin Papperger — CEO, Rheinmetall
Winnie — Bloomberg Reporter, Hong Kong

Summary

Bloomberg Daybreak Europe discusses renewed Middle East tensions after Iran proposed barring US and Israeli ships from the Strait of Hormuz, pushing oil and European natural gas higher. Bond yields rose on inflation fears ahead of the US jobs report. The show also covers Apollo's deal to buy EasyJet, North Korea's economic recovery, and exclusive interviews with DWS portfolio manager Madeleine Ronner on strong European earnings and Rheinmetall's CEO on losing a naval contract.

  • Iran seeks to bar US/Israeli ships from the Strait of Hormuz, boosting oil and European natural gas prices.
  • Global yields climb as Middle East uncertainty stokes inflation concerns; US jobs report is the next key risk event.
  • European equities are delivering the best earnings season since 2023, with broad beats and room for further upside surprises.
  • DWS portfolio manager Madeleine Ronner sees European equities as more attractive than US, favors oil as a risk hedge, and prefers German defense stocks over UK.
  • Rheinmetall CEO Armin Papperger says lost German naval contract won't derail >30% annual growth, highlights €14.5 billion Arminius contract.
  • Apollo agrees to buy UK budget carrier EasyJet for £5.7 billion, potentially reshaping European aviation.
  • China's central bank is stockpiling gold in Hong Kong as it moves reserves from London.
  • Asian stocks slip on geopolitics; China's CSI 300 is a bright spot on strong trade data.
Ideas
Ben Ram Cross Asset Strategist, Bloomberg 13:07
Tech stocks resilient with dip buying interest.
Tech stocks have consistently outperformed brick-and-mortar earnings for decades, and dip buying interest persists with the Nasdaq 100 bouncing back from fair value around 29,009. The speaker expects this marginal buying and dip buying interest to continue in the months to come.
QQQ MED
Madeleine Ronner Senior Global Equities Portfolio Manager, DWS 26:58
European equities have more upside room.
European earnings season is the best in years with broad-based beats, yet expectations are still lower than in the US, leaving more room for upside surprises. Valuations are less stretched compared to US markets, and beats are being better rewarded by the market.
STOXX Europe 600 HIGH
Madeleine Ronner Senior Global Equities Portfolio Manager, DWS 29:27
European banks still have upside.
European banks are benefiting from higher interest rates and very good cost control, and despite valuations having risen, there is still some room to run in this area of the European market.
FEUP MED
Madeleine Ronner Senior Global Equities Portfolio Manager, DWS 30:11
Oil is a valuable portfolio hedge.
Oil serves as a good diversification and risk hedge for portfolios because global inventories are being depleted with each escalation, and even if a deal on the Strait of Hormuz is reached, markets should be skeptical of its durability. The current oil price is rather optimistic.
BNO XLE MED
Madeleine Ronner Senior Global Equities Portfolio Manager, DWS 32:32
German defense stocks favored over UK.
German defense stocks are preferred over UK defense due to the absence of a difficult fiscal debate, providing more security that increased defense spending commitments will materialize. Execution in the sector is improving, reinforcing confidence.
German Defense Stocks MED
Armin Papperger CEO, Rheinmetall 35:16
Rheinmetall still targeting over 30% growth.
Despite losing a naval contract, Rheinmetall expects to compensate and maintain growth exceeding 30% per year. A definitive contract for the Arminius program worth €14.5 billion, with options up to €40 billion, is expected to be signed in December after final negotiations in September.
RNMBF MED
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Bloomberg Markets · Aug 07

This Bloomberg Markets video, published August 07, 2026, features Ben Ram Cross, Madeleine Ronner, Armin Papperger discussing QQQ, STOXX Europe 600, FEUP, BNO, XLE, German Defense Stocks, RNMBF. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ben Ram Cross, Madeleine Ronner, Armin Papperger  · Tickers: QQQ, STOXX Europe 600, FEUP, BNO, XLE, German Defense Stocks, RNMBF