THURSDAY, NOVEMBER 12 · DAILY EDITION

Daily Market Brief — November 12, 2026

Today's market is marked by potential disruptions in global oil supply and tensions in the Hormuz region, alongside notable movements in Ethereum prices and various corporate announcements. The likelihood of shipping being targeted in Hormuz has increased, which could impact crude oil prices and broader risk assets.

POLYnegative

Hormuz Shipping Targeted

The implied probability shift indicates a high likelihood of shipping being targeted in Hormuz over the next few days, which could lead to increased tensions and potential disruptions in global oil supply, affecting crude oil prices and possibly broader risk assets.

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POLYnegative

Ethereum Resistance Level

The large drop in implied probability of Ethereum being above $2,000 on November 12 suggests a strong resistance level at $2,000, making a breakout above this level less likely in the short term.

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BVCRNSpositive

BATM Wins Cybersecurity Order

BATM Advanced Communications Ltd has won an additional $4.0m cybersecurity order, a quantified positive surprise.

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ATYMRNSneutral

Atalaya Mining Acquisition

Atalaya Mining has acquired Tharsis Mining for €125 million, which may be viewed as a strategic expansion but lacks quantified surprise on its impact on earnings or valuation metrics.

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DCCRNSneutral

DCC Energy Plc Announcement

The announcement related to the Irish Takeover Panel and Form 38.5a for DCC Energy plc lacks specific or quantifiable information that would indicate a significant impact on the stock price.

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DCCRNSneutral

AQR Capital Management Disclosure

AQR Capital Management's disclosure of a stake in DCC Energy PLC via the Irish Takeover Panel's Form 8.3 is a routine filing and does not contain any quantified surprises that would impact the stock price significantly.

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NDAQEUneutral

Delisting of J.P. Morgan SE Warrants

The delisting of J.P. Morgan SE warrants on Nasdaq Stockholm AB is a result of the issuer's request, and the last trading day is November 11, 2026, which is a routine market operation notice.

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NDAQEUneutral

Delisting of J.P. Morgan SE Certificates on Nasdaq Helsinki

The delisting of J.P. Morgan SE certificates on Nasdaq Helsinki at the issuer's request is a routine administrative action with no quantified surprise or impact on the underlying company's performance.

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NDAQEUneutral

Delisting of J.P. Morgan SE Certificates on Nasdaq Stockholm AB

The delisting of J.P. Morgan SE certificates on Nasdaq Stockholm AB at the issuer's request is a routine administrative action without any quantified surprise or impact on the underlying company's financials.

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ECPRNSneutral

Eight Capital Partners Acquisition

Eight Capital Partners Plc acquired 100% of DC Next for a fixed €7.55 million, which may be a significant investment but lacks specific details on expected returns or synergies, making the impact uncertain without further context on the deal's size relative to ECP's market cap.

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AI-generated summaries. Not investment advice — full disclaimer. Impact labels are model estimates; verify before acting.
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