Friday 6 February 2026
The Mighty Headlines
Economics: BoE holds interest rates, fuelling rate cut bet next month
Business and markets: Bitcoin sinks and tech stocks enter third day of falls
Foreign Affairs: Panama hits back at China over Panama Canal
Security and intelligence: US and Russia resume military-to-military talks
UK politics: UK and US agree critical minerals deal
The Mighty Stats
FTSE = 10,309.22 (down 0.9%)
S&P 500 = 6,798.40 (down 1.23%)
Nasdaq = 22,540.59 (down 1.59%)
Stoxx 600 = 611.65 (down 1.05%)
£1 = $1.35 / €1.15
Lab / Con / Reform = 16 / 18 / 31 per cent (Find Out Now, 4 February)
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The Mighty Detail
Economics: The Bank of England’s Monetary Policy Committee voted 5-4 yesterday to keep interest rates at 3.75 per cent. The surprisingly close vote is fuelling speculation that the Bank will decide to cut interest rates next month.
The value of sterling fell to $1.354 on the news and yields on 10-year government bonds fell to 4.53 per cent.
Business and markets: The value of Bitcoin fell to under $64,000 during trading yesterday. There are reports that traditional investors are losing interest in the digital currency and re-assessing its utility. In October 2025, Bitcoin peaked at $126,000.
Tech stocks also continued a three-day decline yesterday, with Google shares falling around 3 per cent as investors grow weary of ever-more ambitious spending on AI.
Foreign Affairs: Panama’s President hit out at China yesterday, saying that his country would “not be threatened”. It comes after Panama’s Supreme Court ruled that the operation of two ports at either end of the Panama Canal by CK Hutchinson, a Hong Kong company, was unconstitutional.
China said that Panama would “pay a heavy price” if the Court’s decision were upheld.
The US, however, has welcomed the decision because it views the ports as a national security issue and wants to reduce China’s influence over the Canal.
Security and intelligence: The US and Russia have agreed to resume high-level military-to-military communications for the first time since 2021. It follows a meeting between the head of US European Command, General Grynkewich, and Russian and Ukrainian officials in the UAE.
UK politics: The UK and US have signed a new critical minerals deal. The memorandum of understanding commits the two countries to secure the supply of critical minerals and block rare earth sales on national security grounds. The US has signed similar deals with Mexico, Japan and the EU.
The Mighty Calendar
What’s happening today?
New Zealand public holiday (Waitangi Day)
Winter Olympics opening ceremony, Milan, Italy
King Charles’s Finding Harmony documentary film released on Amazon Prime
House of Lords continues debate on Assisted dying bill
Company results from: Toyota, Société Générale, Orsted
Lookahead to the weekend
Saturday
Labour Party local government conference, Midlands, England
Rugby Six Nations: England vs Wales
Ruby Six Nations: Scotland vs Italy
Sunday
General Election in Japan
Presidential election in Portugal
Routemaster 70th anniversary parade (Golders Green to Crystal Palace)
F1 Australian Grand Prix, Melbourne, Australia
NFL Super Bowl: Seattle Seahawks vs New England Patriots
The Mighty Finale
🌤️Weather today
Light rain across most of England. Drier in the southwest. High of 11C and low of 7C in London. Heavy rain in Belfast. Light rain in Edinburgh.
✏️Life coaching quote of the day
“I am not a product of my circumstances. I am a product of my decisions.” – Stephen Coveney, motivational speaker
Mighty takeaway: Don’t stay stuck in your circumstances! Make decisions to change them.
That’s it for this Friday morning. We hope that you have a very enjoyable weekend.
Adios!
The Mighty Memo team
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