Good afternoon and welcome to Markets Desk, your midday read on what's moving markets and why.
French equities are leading European gains today as the CAC forty climbed sharply after Israel and Lebanon agreed to a ceasefire. The geopolitical relief trade pushed risk assets higher, while lower oil prices added further support. Comments from President Trump suggesting U.S.-Iran talks could reach a positive outcome by the weekend gave investors additional reason to buy.
Shifting to biotech, Chai Discovery is emerging as one of the more compelling AI drug discovery plays in the space. Pfizer and Eli Lilly are already working with the startup, which is now in talks to raise four hundred million dollars in fresh venture capital at a valuation of three point four billion dollars. The bet is on its antibody AI model accelerating the path to new therapies.
And in the ride-hailing space, Uber CEO Dara Khosrowshahi confirmed the company is actively pulling back driver recruitment in cities where robotaxis are gaining ground. Waymo's expanding footprint is clearly reshaping Uber's labor calculus, and Khosrowshahi framed the move as a way to protect earnings opportunities for existing drivers already on the platform.
That's the tape. Markets Desk, signing off the floor.
