Kenya’s private sector activity deteriorated in May 2026, according to Stanbic IBTC Purchasing Managers’ Index (PMI) report released by S&P Global on Thursday. 

Germany is set to be the main economic beneficiary among Europe’s large economies as the continent raises defence spending, Fitch Ratings says in a new report.

The Senate on Wednesday approved a new excise duty regime on sugar-sweetened beverages. The upper chamber also endorsed the creation of a dedicated funding stream to strengthen public health interventions across the country.

Ethereum (ETH) price is struggling to rebound after slipping 8% to $1,730 on Thursday amid bearish action driven by relentless institutional selling via spot ETFs and a cascade of leveraged long liquidations.

Cardano price (ADAUSD) plunged 13.51% to $0.188 over 24h, underperforming the broader market downturn, driven primarily by escalating ecosystem distress and negative sentiment.

Ripple (XRP) price is down 7.04% in 24 hours to $1.15, underperforming a broader market sell-off primarily driven by a wave of forced selling from leveraged long positions.

Bitcoin price (BTCUSD) is down by 6.3% over 24 hours to $62.919 on Thursday, driven by sustained institutional selling pressure. With about $60 billion in transaction value, Bitcoin’s decline is rooted in institutional exits and exacerbated by the unwind of derivatives.

Oil prices are softer in the global commodity market on Thursday following reports of a ceasefire deal between Lebanon and Israel, which boosted hopes for a broader agreement to end the US-Israeli conflict with Iran that could potentially lead to a reopening of the Strait of Hormuz.

South African Rand (ZAR) stabilises against crosses on Thursday after the local unit struggled to hold value against the US dollar amid strengthening geopolitical tensions.

Wall Street and the FTSE 100 declined as risk aversion dampened sentiment across global equities.  Escalating tensions in the Middle East set the tone for global risk aversion, with overnight US-Iran exchanges weighing on sentiment and driving a broad pullback in equities.