Europe heatwave live: UK sees temperatures of 38.1C, the hottest day of 2026; Greece battles wildfires after gale force winds

The UK is experiencing its hottest day of 2026 so far, with temperatures reaching 38.1C. This extreme heat has significant implications for the country's economy and trade, particularly in the agricultural sector where crops are vulnerable to heat stress and drought. The prolonged heatwave may also lead to increased energy demand, potentially affecting electricity prices and supply.

Why it matters

The heatwave is a significant weather event, but its impact on European assets is likely to be limited. It may lead to some economic disruption, but this is unlikely to have a major impact on markets.

Market impact

Markets & countries in focus

Transmission channels

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