Aluar, controlled by the Madanes Quintanilla family, inaugurated Argentina's largest wind farm in Puerto Madryn (Chubut). The fifth stage, La Flecha, required about $400 million and added 56 turbines. The complex reaches 582 MW, close to 12% of the country's wind capacity, and will supply its primary aluminium plant, the only one in Argentina, with capacity for 460,000 tonnes a year.
Spain's Instituto de Crédito Oficial (ICO) launched ICO Crecimiento Audiovisual, a program with an initial endowment of more than 300 million euros from the NextGenerationEU European funds. It offers loans of between 50,000 euros and 2.5 million per operation, with a cap of 3 million per company or group, and repayment terms adapted to the industry's pace. It is part of España Crece and applications are open until December 31, 2027.
The Milan stock exchange closed lower, with its benchmark FTSE MIB index down 2.54% to 48,383.66 points, dragged by the poor performance of the technology sector and doubts over artificial intelligence, according to EFE.
NVR posted net income of $248.6 million in the third quarter of 2026, or $89.45 per diluted share, compared with $342.7 million and $112.33 a year earlier. Consolidated revenue was $2.40 billion, versus $2.61 billion in the third quarter of 2025. Results reflected lower homebuilding activity and lower margins, while mortgage banking revenue increased.
Brent crude surpassed $111 a barrel after a 2.3% rise ahead of the European open, following Iran's report that seven tankers were damaged in the Strait of Hormuz. WTI rose 2.1% to $99.1. Stocks fell: the Ibex 2.12%, the Cac 40 1.39% and the Dax 1.07%. Energy tensions were compounded by uncertainty over AI after Meta announced higher capital spending, and by losses in Asia and on Wall Street.
The Japanese yen is appreciating against the dollar, the euro, the pound and the Australian dollar in a session of lower risk appetite, in which the Swiss franc was also advancing. The text attributes the move to the unwinding of yen-funded positions, doubts about large artificial intelligence investments, elevated oil prices, the war in the Middle East and concerns over French public finances. The Bank of Japan keeps its rate at 1.25% and the market expects it to leave it unchanged at next week's meeting.
Venezuela's acting president, Delcy Rodríguez, announced the immediate suspension of the mandatory use of fiscal machines in commercial establishments, aimed at reducing operating costs and administrative barriers for small and medium-sized businesses. The tax package, formalized alongside Seniat superintendent Román Maniglia, includes a 67% reduction in the registry of special taxpayers, which fell from more than 132,000 registrants to about 44,000. The government clarified that it is not a tax exemption.
Great Southern Bancorp reported preliminary net income of $14.0 million in the third quarter of 2026, or $1.27 per diluted share, compared with $17.8 million, or $1.56 per diluted share, a year earlier. Results included a non-cash hedge accounting charge of about $2.5 million after taxes; excluding that adjustment, net income was $16.5 million, or $1.50 per diluted share. Net interest income was $50.3 million and the net interest margin was 3.75%.
The Japanese yen is appreciating against the dollar, the euro, the pound and the Australian dollar in a session of lower risk appetite, in which the Swiss franc was also advancing. The Bank of Japan keeps its rate at 1.25%, versus the ECB's 2.50% deposit rate and the Federal Reserve's 3.75% to 4% range. Japanese investors have spent five consecutive weeks selling long-term foreign bonds, worth about 3.43 trillion yen.
The Central Bank of Venezuela (BCV) published the official dollar rate for Thursday, October 22, 2026, at 884.74 bolívares per dollar, compared with the October 21 report, reflecting a declining movement of the bolívar. The BCV also set the euro at 993.21 bolívares, the Chinese yuan at 132.54, the Turkish lira at 17.83 and the Russian ruble at 10.80. It also reported buy and sell rates at banks including Banesco, Mercantil, BBVA Provincial, BNC and Banco Exterior.
The dollar in Mexico (USDMXN) gains about 0.2% to 18.72 pesos, after approaching 18.85 before the local data. Biweekly inflation was 0.41%, above the 0.37% expected, and annual inflation rose from 3.42% to 3.62%. Unemployment fell from 3% to 2.8% in September. The peso initially strengthened and then pared part of the gain, in a market still watching the Federal Reserve.
Iberdrola, through its Brazilian subsidiary Neoenergia, signed a green loan with the European Investment Bank worth 857 million reais (about 128 million euros) to expand and modernize Neoenergia Elektro's distribution grids in São Paulo and Mato Grosso do Sul. The financing, guaranteed by Cesce, will fund the renewal of lines, substations and control systems, increase automation and reduce technical losses. It is the second green agreement with the EIB in less than a year.
Hormel Foods Corporation appointed Joe O'Connor as group vice president for enterprise performance, effective October 26, 2026. In the role he will lead cross-functional initiatives aimed at improving decision-making and planning. The announcement is based on the company's original press release, distributed by PR Newswire.
PepsiCo renewed its beverage partnership with Taco Bell in the United States for 11 more years, extending the agreement through 2036. The company will keep exclusive drinks such as Mountain Dew Baja Blast at the chain's locations. It also extended the agreements in Canada, the United Kingdom, Ireland and Thailand. The announcement is based on PepsiCo's original press release, distributed by PR Newswire.
European stocks face a fresh wave of selling that drags the Ibex 35 and the EuroStoxx 50 down more than 1.5%, and the Spanish index wavers on giving up 19,000 points amid renewed investor fears over the artificial intelligence sector and its high valuations. Eurozone sovereign debt yields and a rising Brent, up more than 2.5% to $112, also weigh. Pressure in fixed income hits banks, with Bankinter down 6%.
J.P. Morgan estimates that most international banks have limited exposure to CoreWeave, despite the recent drop in its shares and bonds. Major U.S. investment banks and MUFG could have exposures of between $1 billion and $3 billion, while most European and Asian lenders would be below $500 million. The firm considers that financing structures and collateral reduce direct risks, and forecasts negative free cash flow for CoreWeave until 2030.
Fireblocks, a crypto custody and infrastructure provider, disputed a report that Visa is in advanced talks to acquire it for about $2.5 billion. A Fireblocks spokesperson told Cointelegraph that the information "is news to us and, at the moment, is not true." Axios had reported the talks, citing multiple sources. The reported price would represent a discount to the valuation of more than $8 billion that Fireblocks disclosed after its $550 million Series E round in January 2022. Visa said it does not comment on "rumors or speculation."
Wall Street stock indexes opened lower, pressured by rising oil prices and by results below expectations, including those of Lam Research, according to XTB's market analysis.
France's risk premium stands at 178 basis points and the ten-year bond yield exceeds 5%, levels not seen since the 2011 European debt crisis. Protests over the cost of living, political deadlock and difficulties in reducing the deficit are pressuring French debt, while the market anticipates a possible rating downgrade. The spread is measured against the German bond: if the French bond yields 5.07% and the German one 3.29%, the premium is 178 basis points.
Markets posted broad declines after a disappointing start to the US tech earnings season and a sharp rise in oil prices amid escalating Middle East tensions. Brent rose 2.5% and topped $111 per barrel, its highest level since May. Capital moved into bonds and into the Swiss franc and the yen, while gold fell 1.3% and Bitcoin dropped about 3%.
