China is set to import a record volume of U.S. ethane in April — about 800,000 tonnes, roughly 60% above the monthly average — as petrochemical firms switch feedstocks after the Iran war choked Persian Gulf supplies and effectively closed the Strait of Hormuz. Ethane, a natural gas liquid used to produce ethylene for plastics, is sourced almost entirely from the United States, making U.S. exports a crucial alternative to disrupted naphtha and LPG flows. Chinese consultant JLC and industry sources say the shift is supported by much higher margins for ethane-based ethylene (about tenfold versus naphtha as of April 15) and new downstream capacity from projects by Wanhua Chemical and Sinopec Ineos (Tianjin). The International Energy Agency has warned that petrochemical feedstocks are among the most immediately affected by the conflict, forcing Asian buyers — including Japan — to scramble for alternatives. The buying surge comes ahead of U.S. President Donald Trump’s planned visit to Beijing in mid-May, where energy trade is expected to figure prominently if the war continues.

Indian equity indices traded in a narrow range on April 20, 2026 as investors weighed renewed US‑Iran tensions and a flurry of corporate results. The BSE Sensex finished almost flat (around 78,520), while the NSE Nifty50 closed near 24,365 after intraday swings that saw indices trade in the 78,200–78,900 and 24,300–24,480 bands. The Nifty India Volatility Index rose about 10.5% to 19.01. Sector action was mixed: PSU banks and Nifty Bank outperformed, buoyed by strong Q4 prints at lenders including ICICI Bank (net profit +8.7% YoY) and steady results from private banks, while IT and realty underperformed. Brent crude and WTI spiked — Brent jumped roughly 5–6% into the mid-$90s per barrel and WTI moved toward $90 — after reports the US Navy seized an Iranian‑flagged cargo ship and Iran fired on commercial vehicles in the Strait of Hormuz. Early-market indicators (GIFT Nifty) signalled a positive open. Market flows and corporate actions kept activity elevated: March SIP inflows remained robust and IPOs such as Citius Transnet InvIT and Mehul Telecom were in subscription.

The UK is at risk of a near-term technical recession as fallout from the US‑Israel war on Iran and a shock to oil markets hit growth and jobs, multiple forecasting reports warned in April 2026. The EY Item Club expects GDP to flatline in the second and third quarters of 2026 and to slow to 0.7% for the year, while forecasting unemployment to rise to 5.8% by mid‑2027 — roughly 250,000 more people out of work. Deloitte and EY surveys show corporate finance chiefs and businesses turning defensive, cutting investment and reining in hiring amid rising energy costs, supply‑chain disruption and higher financing costs. The IMF has already downgraded the UK’s growth outlook, the largest downward revision among G7 countries. Item Club and other analysts expect inflation to approach 4% in the second half of 2026 but judge the Bank of England is unlikely to raise rates further immediately, given a weakening economy. Chancellor Rachel Reeves has held talks with bank chiefs as policymakers and firms assess the scale of the shock to households, firms and small businesses.

Evoke plc, the London-listed owner of William Hill and 888, said on April 20 it is in discussions with Bally’s Intralot over a possible takeover valuing the group at about £225.3 million (50p a share). Bally’s Intralot, formed after last year’s tie-up between Greek lottery firm Intralot and US casino operator Bally’s, must either table a firm offer or withdraw by 5pm on May 18 under takeover rules. Evoke, which has seen its market value collapse since buying William Hill’s non-US operations in 2021, carries roughly £1.8 billion of net debt. The company has launched a strategic review, appointed advisers and announced plans to close roughly 200 William Hill betting shops amid rising costs and tax changes that increased remote gaming duty from 21% to 40% and introduced a 25% online sports betting duty. Evoke said any deal could involve an all-share combination with a partial cash option but cautioned there is no certainty an offer will be made or on what terms.

April 19-20, 2026 reports say U.S. drugmaker Eli Lilly is in advanced talks to acquire Boston-based Kelonia Therapeutics for more than $2 billion, with a deal possibly announced imminently and structured to include milestone-linked additional payments. Kelonia is a clinical-stage biotech developing a next‑generation CAR‑T therapy for multiple myeloma that aims to simplify current CAR‑T manufacturing and potentially avoid chemotherapy, accelerating administration and scalability. The startup has raised under $60 million to date and was last valued at just above $100 million in 2022, underscoring the premium Lilly would pay. The acquisition would strengthen Lilly’s oncology portfolio — complementing existing cancer drugs such as Verzenio — and continues a recent strategic push (including the February Orna Therapeutics deal) to diversify beyond its blockbuster weight‑loss and diabetes franchises. Reuters and other outlets reported the talks; companies had not immediately commented and the transaction remained unverified at publication. Kelonia’s lead programs are at an early clinical stage, so the acquisition carries development and regulatory risk despite potential commercial upside if the technology proves effective.

Billionbrains Garage Ventures Ltd (Groww) reported a strong Q4FY26, with profit after tax roughly doubling to ₹686 crore and total income/revenue rising about 80-88% year-on-year to around ₹1.5 trillion/₹1.5k crore in the March quarter. EBITDA jumped to ₹939 crore with an EBITDA margin of 62.4%, and the company reported an absolute PAT margin near 44.7% in Q4. Active user metrics improved: total transacting users reached 21.6 million and active users 16.7 million, while total customer assets accelerated 36% YoY to ₹3 trillion. For FY26, PAT was ₹2,083 crore and total income ₹4,816 crore. Shares traded flat near ₹198-200 despite the results; market capitalisation stood near ₹1.26 trillion. Market watchers note Groww’s elevated valuation—about 43x one-year forward earnings per Bloomberg—making it among the priciest brokerages globally. Broker reports (BofA, Jefferies) remain upbeat on growth, even as analysts flag regulatory and market-cycle risks to derivatives exposure and margin sustainability.