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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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| Upstream | LSE:UPS | London | Ordinary Share | KYG7393S1012 | ORD 0.25P (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 1.625 | 0.00 | 01:00:00 |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 1.625 | GBX |
Upstream (UPS) Share Charts1 Year Upstream Chart |
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1 Month Upstream Chart |
Intraday Upstream Chart |
| Date | Time | Title | Posts |
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| 16/4/2024 | 14:56 | SHARES STRONGLY UP during APRIL 2024 | 317 |
| 02/4/2024 | 08:43 | SHARES STRONGLY UP during March 2024 | 567 |
| 29/2/2024 | 23:08 | SHARES STRONGLY UP during February 2024 | 670 |
| 31/1/2024 | 22:24 | SHARES STRONGLY UP during January 2024 | 656 |
| 01/1/2024 | 20:09 | SHARES STRONGLY UP during December 2023 | 551 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 12/4/2024 22:23 by master rsi MARKET REPORTLONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere (Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle. The FTSE 100 index ended up 71.78 points, 0.9%, at 7,995.58, closing below the 8,000 point mark despite approaching its best-ever level earlier in the day. The FTSE 250 shed 65.63 points, 0.3%, at 19,721.24, and the AIM All-Share lost 2.92 points, 0.4%, at 755.91. For the week, the FTSE 100 added 1.1%, the FTSE 250 barely budged, while the AIM All-Share climbed 2.1%. The Cboe UK 100 added 1.0% to 799.46 on Friday, the Cboe UK 250 fell 0.5% to 17,126.64, and the Cboe Small Companies climbed 0.6% to 14,862.69. In European equities on Friday, the CAC 40 in Paris lost 0.2% and the DAX 40 in Frankfurt fell 0.1%. In New York, the Dow Jones Industrial Average was down 0.8%, the S&P 500 0.9% lower, and Nasdaq Composite giving back 1.0%. Share price rises for miners helped the FTSE 100 find its groove, while peers across the Atlantic in mainland Europe struggled. Gold producer Fresnillo surged 7.6%, tracking bullion prices higher. Gold was quoted at USD2,396.43 an ounce late Friday, higher against USD2,338.05 on Thursday. Gold was not alone in shining. Base metals prices were also on the up, as was oil. This pushed shares in miners Glencore and Anglo American up 5.1% and 3.7%, and oil majors Shell and BP up 2.6% and 3.7%. Brent oil was quoted at USD91.05 a barrel late on Friday afternoon in London, up from USD89.94 late Thursday. Rising global tensions boosted oil prices. Iran's threats of reprisals against Israel after a strike in Syria this month that killed two Iranian generals remain "real" and "viable," the White House said on Friday. "We still deem the potential threat by Iran here to be real, to be viable," National Security Council spokesman John Kirby told reporters. Defence Minister Yoav Gallant said Friday that Israel and the US were "shoulder to shoulder" in facing the threat from Iran, after talks with US Central Command chief Michael Kurilla. "Our enemies think that they can pull apart Israel and the US, but the opposite is true – they are bringing us together and strengthening our ties", Gallant said in a statement, after the two discussed Iran's threats of retaliation for a deadly air strike on its consulate in Syria widely blamed on Israel. Rising tensions hurt shares in airlines. easyJet lost 1.9% and British Airways parent International Consolidated Airlines Group fell 3.8%. The dollar was largely higher in the world of foreign exchange, though the threat of currency intervention supported the yen. The pound fell to USD1.2451 late Friday afternoon in London, down from USD1.2513 at the equities close on Thursday. The euro stood at USD1.0643, lower against USD1.0705. Against the yen, the dollar was trading at JPY153.09, falling from JPY153.30. Sterling traded below the USD1.25 mark for the first time since November. The euro was around its lowest level since November. Analysts at ING said the red-hot US consumer price index report on Wednesday "was the trigger to a substantial dollar rally". A "dovish shift" by the European Central Bank and Bank of Canada "has now made that rally more sustainable", the Dutch bank believes. "Both banks have given a nod to market bets for a rate cut in June, and rightly so given the considerably more encouraging domestic inflation outlook than in the US. As things stand now, the Federal Reserve looks unlikely to match that same dovishness, and the case for a growing divergence between an immobile FOMC and a bunch of dovish central banks is getting stronger," analysts at ING commented. The pound fell on the greenback despite data suggesting the UK is out of recession. According to the Office for National Statistics, UK gross domestic product rose by 0.1% in February from January, in line with FXStreet cited consensus. UK GDP had expanded 0.3% on-month in January, according to revised data. Back in London, Huddled Group rose 7.7% after the investor in e-commerce brands said it will acquire Food Circle Supermarket for up to GBP300,000. Food Circle is an online retailer based in Dinnington, South Yorkshire. In 2023, it delivered revenue of around GBP1.4 million. According to Huddled, the acquisition is complementary to its Discount Dragon business and is "the next step in the group's strategy to build a portfolio of e-commerce brands". Bens Creek plummeted 24% after it reported that it has laid off 44 employees. The owner and operator of metallurgical coal mines across North America said that the move is due to "the depressed metallurgical coal price", as well as "financial constraints at the company and production difficulties", at its mining project in West Virginia. Bens Creek added that the mine will be operated on a care and maintenance basis for the time being. Bens Creek added that lower coal prices and interruptions in production at the mine in West Virginia had put a strain on the company's cashflow in the first months of 2024. Monday's economic calendar has a eurozone industrial production reading at 1000 BST, before US retail sales data at 1330 BST. The UK corporate calendar has a trading statement from emerging markets-focused investment manager Ashmore Group. |
Posted at 11/4/2024 22:29 by master rsi MARKET REPORTLONDON MARKET CLOSE: Dwindling US Fed cut hope unnerves markets (Alliance News) - Stock prices in London closed lower on Thursday, with a hawkish interest rate outlook for the Federal Reserve and geopolitical tensions hurting investor enthusiasm. Elsewhere in the central banking space, the European Central Bank appeared to lay the groundwork for a June rate cut, while a UK rate setter said the Bank of England is "way off" easing bank rates. The FTSE 100 index ended down 37.41 points, 0.5%, at 7,923.80. The FTSE 250 lost 14.88 points, 0.1%, at 19,786.87, though the AIM All-Share added 3.64 points, 0.5%, at 758.83. The Cboe UK 100 ended down 0.5% at 791.95, the Cboe UK 250 rose 0.1% to 17,220.35, and the Cboe Small Companies added 0.2% to 14,770.34. In European equities on Thursday, the CAC 40 in Paris ended down 0.3%, while the DAX 40 in Frankfurt fell 0.8%. The pound was quoted at USD1.2513 late Thursday afternoon in London, down compared to USD1.2546 at the equities close on Wednesday. The euro stood at USD1.0705, lower against USD1.0743. It had traded just below USD1.07 at one point, a year-to-date low. Against the yen, the dollar was trading at JPY153.30, up compared to JPY152.88. The European Central Bank remains on course to lower interest rates at its June meeting. The ECB left its key interest rates unchanged, as widely expected, but policymakers said they will cut rates should they gain confidence that inflation is falling to the bank's 2% target. European Central Bank President Christine Lagarde again affirmed a "data dependent" approach to interest rate decisions, but did add that some in the Governing Council already have the confidence to cut. Lagarde said in a post-decision press conference: "A few members felt sufficiently confident [to cut interest rates], on the basis of the limited data that we received in April." However, they then "rallied to the consensus" of the large majority of euro area monetary policymakers. ING analysts commented: "During the press conference, ECB President Christine Lagarde repeatedly stressed the hint at upcoming rate cuts mentioned above – but she also added that the ECB was not pre-committing to any path for policy rates. At the same time, Lagarde also mentioned that few ECB members had already been in favour of a rate cut today. Today's meeting marked another step in the very gradual transition of the ECB's communication since December from hawkish to dovish, even if it was probably the mildest shift. "The ECB clearly opted against giving more explicit guidance for a June cut. This reluctance to be more outspoken – combined with the fact that some ECB members were already in favour of a rate cut today – implies a higher degree of disagreement within the central bank. It seems as if at least some ECB members fear that still high services inflation and the recent surge in oil prices, as well as wage developments in Germany, suggest that there still is a considerable risk of inflation re-accelerating." The aftermath of Wednesday's robust US consumer price inflation was still reverberating in European equities, though US tech shares were higher in mixed trade on Wall Street. The Dow Jones Industrial Average was down 0.6% at the time of the London equities close, the S&P 500 fell 0.1%, though the Nasdaq Composite added 0.3%. On Wednesday, the Bureau of Labor Statistics reported that the year-on-year rate of consumer price inflation picked up to 3.5% last month, from 3.2% in February, taking it further above the Fed's 2% inflation target. The rate of consumer price inflation had been expected to pick up to just 3.4%, according to FXStreet cited consensus. The rate of inflation is now at its most lofty since September. Thursday's US producer price data was less robust, but did pick up. US producer price growth accelerated to 2.1% year-on-year in March, from 1.6% in February. Berenberg analyst Holger Schmieding noted a "growing gap" between the ECB and Fed. "The eurozone needs rate cuts, the US economy does not as long as the pre-election fiscal expansion neutralises the impact of high Fed rates," Schmieding added. Elsewhere, Bank of England rate setter Megan Greene said interest rate cuts "should still be a way off" in the UK, predicting that the "last mile" in getting inflation down "may prove the hardest". Greene, one of the more hawkish members of the BoE's monetary policy committee, argued in the Financial Times that investors had underestimated the risk that inflation would remain high for longer in the UK than in other advanced economies. In London, shares in airlines slumped amid rising global tensions. British Airways parent International Consolidated Airlines Group gave back 3.7%, budget carrier easyJet fell 3.6%. Israel was on alert Thursday after its arch foe Iran threatened reprisals over a strike in Syria this month that killed two Iranian generals, and as the war against Hamas ground on in Gaza. Days after Israel strengthened its air defences and paused leave for combat units, the US also warned of the risk of an attack by Iran or its allied groups at a time Middle East tensions have soared. Iran is "threatening to launch a significant attack on Israel," US President Joe Biden said Wednesday, pledging "ironclad" support for its top regional ally despite diplomatic tensions over Israel's military conduct in Gaza. Crude prices were higher than they were this time on Wednesday, though Brent remained a touch below USD90 a barrel. Brent oil was quoted at USD89.94 a barrel late in London on Thursday, up from USD89.31 late Wednesday. Gold was quoted at USD2,338.05 an ounce, up against USD2,334.91. Back in London, consumer goods firm Reckitt, lender Lloyds Banking Group and insurer Aviva fell 2.3%, 4.6% and 6.4%. The trio went ex-dividend, meaning new share buyers do not qualify for the latest payout. At the other end of the large cap index, AstraZeneca, once of its largest constituents, added 2.1%. It said it plans to increase its dividend by 7% in 2024, having left the payout flat last year. The Cambridge, England-based pharmaceutical company said the increase will be by 20 US cents to USD3.10 per share. For 2023, AstraZeneca had paid a total dividend of USD2.90, which was unchanged from 2022, despite skyrocketing profit on the back of lower sales costs. DIY retailer Kingfisher and engineering company Smiths rose 2.4% and 2.7%. Both were raised to 'buy' from 'hold' by HSBC. Elsewhere in London, Lok'n Store Group jumped 17% to 1,120.56 pence, after it accepted a takeover approach from Shurgard Self Storage that values the business at GBP378 million. The cash bid is worth 1,110 pence per Lok'n Store share, a 16% premium to the self-storage provider's closing price of 958p on Wednesday, and 2.3% above its all-time closing high of 1,085p in January 2022. Brussels-based Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, said the deal represented an "attractive opportunity" to accelerate its growth strategy and create value for shareholders. Lok'n Store said it considered the terms of the offer "fair and reasonable", and recommended shareholders accept the bid. Shurgard said that, as of Wednesday, it has received irrevocable undertakings to vote in favour of the deal for about 19% of Lok'nStore's shares. Friday's economic calendar has a UK gross domestic product reading and German inflation data at 0700 BST. In the local corporate diary, building materials company SigmaRoc reports a trading statement. Over in New York, the banking earnings season kicks off. Citigroup, JPMorgan Chase and Wells Fargo release first-quarter numbers. Asset manager BlackRock also reports. |
Posted at 09/4/2024 21:41 by master rsi MARKET REPORTLONDON MARKET CLOSE: Stocks struggle in nervy trade before US data (Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high. The FTSE 100 index ended down 8.68 points, 0.1%, at 7,934.79. The FTSE 250 ended down 91.23 points, 0.5%, at 19,763.35, while the AIM All-Share rose 2.15 points, 0.3%, at 750.98. The Cboe UK 100 ended down 0.2% at 792.86, the Cboe UK 250 fell 0.5% at 17,208.36, and the Cboe Small Companies finished up 0.5% at 14,760.33. The CAC 40 in Paris ended down 0.9%, while the DAX 40 in Frankfurt slumped 1.3%. In New York, the Dow Jones Industrial Average was down 0.4% at the time of the London equities close. The S&P 500 was 0.6% lower. The Nasdaq Composite gave back 0.5%. "In an otherwise quiet trading session without major economic data releases, investors sold stock indices as risk off sentiment dominated the agenda ahead of Wednesday's Federal Open Market Committee minutes and CPI print," IG analyst Axel Rudolph commented. Wednesday's US inflation data is expected to show the rate of year-on-year consumer price growth picked up to 3.4% last month, from 3.2% in February, according to FXStreet cited consensus. If the rate of consumer price inflation picks up by more than expected, it could mean the Federal Reserve will re-think its interest rate outlook. In its last set of economic projections, the dot-plot showed three rate cuts were still the best bet for 2023. The pound was quoted at USD1.2672 in London late Tuesday afternoon, higher compared to USD1.2652 at the equities close on Monday. The euro stood at USD1.0856, rising slightly against USD1.0854. Against the yen, the dollar was trading at JPY151.65, down compared to JPY151.82. Gold was quoted at USD2,347.44 an ounce, higher against USD2,330.93. Gold hit a new record high earlier Tuesday, above USD2,365 per ounce, before easing back. DHF Capital analyst Bas Kooijman commented: "Despite reaching peak levels, gold prices remain supported by solid demand, evidenced by rising net long positions. However, following its strong surge, gold could be exposed to price corrections over the short term in particular if Wednesday's US data comes in stronger than expected." Bank of America on Tuesday suggested the price of gold could hit USD3,000 an ounce. "Gold and silver are among our most preferred commodities, with the yellow metal pushed up by central banks, China investors and, increasingly, Western buyers on a confluence of macro factors, including an end to hiking cycles," BofA explained. The bank adjusted price targets for several London-listed mining stocks and upgraded its recommendation on Fresnillo. Shares in Fresnillo rose 4.0% on Tuesday. Brent oil was quoted at USD89.82 a barrel at the time of the London equities close on Tuesday, down from USD89.93 late Monday. More than six months into the war, Hamas said it was "studying" a new proposal for a temporary truce, taking some heat out of Crude prices. Nonetheless, shares in BP and Shell rose 1.3% and 0.8%. BP said it expects first quarter upstream production to be higher than the previous three-month period but cautioned lower prices would hurt performance elsewhere. The London-based oil and gas major said upstream production in the quarter ending March is expected to be higher compared to the prior quarter, with output higher in oil production & operations and slightly higher in gas & low carbon energy. But in the gas & low carbon energy segment, lower gas prices compared to the prior quarter are expected to have an adverse impact in the range of USD200 million to USD400 million, BP said. There is also expected to be an adverse impact of around USD200 million as a result of the devaluation of the Egyptian pound. In the oil production & operations segment, lower realizations compared to the prior quarter are expected to have an adverse impact in the range of USD300 million to USD600 million, BP commented. Analysts at Jefferies commented: "BP's first trading update suggests limited downside to consensus numbers (Bloomberg USD3 billion net income). Strong gas trading will address a key concern during the quarter, while strong oil trading provides a good uplift quarter-on-quarter. Key operational upsets in the quarter (Whiting, Freeport) seem to have caused a lower impact than feared." It was a tough day for defence stocks across Europe. BAE Systems fell 4.5% in London, the worst large-cap performer. In Frankfurt, Rheinmetall gave back 6.2%. Shares in the duo have enjoyed a rip-roaring gain over the past two years, on the expectation that there will be a rise in military spending amid intensifying geopolitical tensions. Elsewhere, ProCook shares rose 4.4%. The company predicted annual profit to be "marginally" ahead of market expectations, shaking off "subdued" economic conditions. The Gloucester-based kitchenware company reported revenue of GBP13.2 million for the fourth quarter for the year ended March 31, a rise of 4.8% on-year. It would mean full year revenue of GBP62.6 million, an increase of 0.4% from the previous year. ProCook said its fourth-quarter sales were in line with board expectations. It also noted "strong margin and cost discipline". It means it expects full-year underlying pretax profit to be between GBP500,000 and GBP1.0 million, which would top the current company-compiled consensus of GBP400,000, and represent a swing from a GBP200,000 loss in financial 2023. Tasty shares tumbled 17% as it announced a restructuring plan to combat "difficult recent trading conditions", and struck a GBP750,000 loan agreement to bolster its coffers and "stabilise the company" in 2024. It plans to close "20 loss-making sites". For the 53 weeks to December 31, Tasty expects to report revenue of GBP46.9 million, a 6.6% increase from the GBP44.0 million of revenue in the year prior. It expects to post a loss before interest, tax, depreciation and amortisation of GBP900,000 narrowing from a loss of GBP2.7 million. "The group has made reasonable progress since the year end and despite difficult recent trading conditions, management continue to navigate through challenging times to mitigate cost rises and lower trading performance," Tasty said. "The cost-of-living crisis, transportation strikes, and interest rate rises continued to significantly impact 2023 revenue and inflationary pressure on labour, food and utilities continue to adversely affect profitability. The group's financial performance has been inhibited by a tail of underperforming sites, despite efforts at improving operational performance." The loan agreement is with Will Roseff, a "high net worth investor" who is a shareholder in bet365. He is also a director at the gambling firm. Wednesday's economic calendar has the US inflation reading and Fed minutes at 1330 BST and 1900 BST. There is a producer price index reading from Japan overnight. The UK corporate calendar has annual results from grocer Tesco. |
Posted at 08/4/2024 21:58 by master rsi MARKET REPORTLONDON MARKET CLOSE: Miners and airlines in demand as FTSE 100 climbs (Alliance News) - Investors bought in London on Monday, as the FTSE 100 rose with gold hitting a new high before fading, airlines and miners were in demand, while Entain prospered on bid speculation. The FTSE 100 index closed up 32.31 points, 0.4%, at 7,943.47. The FTSE 250 ended up 128.64 points, 0.7%, at 19,854.58, and the AIM All-Share closed up 8.78 points, or 1.2%, at 748.83. The Cboe UK 100 ended up 0.5% at 794.13, the Cboe UK 250 closed up 0.8% at 17,288.54, and the Cboe Small Companies ended up 0.1% at 14,693.06. The brighter mood was reflected in Europe. The CAC 40 in Paris closed up 0.7% while the DAX 40 in Frankfurt climbed 0.8%. Across the pond, stocks in New York were mixed at the London equities close, with the DJIA slightly lower, the S&P 500 slightly higher, and the Nasdaq Composite up 0.1%. On Wednesday, US inflation figures will be released. The report is expected to show that the rate of US annual consumer price inflation picked up to 3.4% last month, from 3.2% in February, according to FXStreet cited consensus. Last Friday, strong jobs data tilted appeared to tilt the balance against a rate cut at June's FOMC meeting. According to the Bureau of Labor Statistics, nonfarm payroll employment rose by 303,000 in March, higher than the FXStreet-cited consensus of 200,000. The figure for February was revised down by 5,000, from 275,000 to 270,000 while January's total was adjusted upwards by 27,000, from 229,000 to 256,000. This means employment in January and February combined was 22,000 higher than previously reported. Nonetheless, the CME FedWatch tool places a 51% chance that interest rates will be lowered by 25 basis points in June, albeit lower when compared to 57% this time a week ago. The pound was quoted at USD1.2652 at the London equities close on Monday in London, up from USD1.2621 late Friday. The euro rose to USD1.0854 from USD1.0831. Against the yen, the dollar rose to JPY151.82 from JPY151.54. Gold hit a new record high on Monday, above USD2,350 per ounce before easing back. Gold was quoted at USD2,330.93 an ounce on Monday at the London equities close, up from USD2,325.89 late Friday. UBS thinks the gold price has further to run in 2024 despite its strong start to the year. UBS explained it had previously expected gold to rise to USD2,250 per ounce by the end of the year. "But it has rallied faster and more forcefully than our already bullish expectations," the broker noted. The Swiss bank increased its forecasts by USD250 per ounce, expecting gold to trade at USD2,300 per ounce in June and at USD2,500 per ounce at end-2024 and end-March 2025. The move in the price supported gold miners Fresnillo in the FTSE 100, which rose 2.6%, and Hochschild Mining, which led the FTSE 250 risers, up 5.4%. Other mining stocks prospered with Rio Tinto up 4.2%, Anglo American up 3.2% and Glencore up 1.9%. Elsewhere, in London's FTSE 100, Entain climbed 4.7% after The Sunday Times reported it was considering its options for a number of assets, reigniting bid speculation. The bookmaker, which owns Ladbrokes and Coral, has called on investment bank Moelis to help with a review of its brands, the report claimed. The future of "a whole range" of assets are under consideration, The Sunday Times reported, citing sources. The Sunday Times said that a number of buyout firms, including the likes of Apollo Global Management Inc and CVC Capital Partners, are watching on with interest. The latter already has a hand in the gambling market, as it owns German bookmaker Tipico. Entain has previously been the subject of failed bid attempts from MGM and Draftkings. DS Smith closed down 0.3%. Sky News reported International Paper is closing in on a formal GBP5 billion-plus bid for the paper and packaging group. A recommended offer from the US-based predator would still leave the door ajar for Mondi, DS Smith's London-listed rival, to trump the International Paper bid, Sky said. Both International Paper and Mondi have made all-share bid propositions for DS Smith. A barrel of Brent oil fetched USD89.93 at the London equities close on Friday, down from USD91.31 on Thursday. The respite in the oil price helped support shares in airlines easyJet, up 3.3%, and IAG, the owner of British Airways, up 2.3%, on hopes of lower fuel bills. easyJet was given an additional push by UBS which reiterated a 'buy' rating and raised its share price target to 850 pence each from 820p. In London's FTSE 250, shares in Currys gained 1.1% after The Sunday Times reported a shareholder has called on the consumer electronics seller to dispose of its mobile phone service division. Fund manager JO Hambro said Currys should sell ID Mobile, a business which provides monthly phone contracts, the report claimed. The Sunday Times said the division is valued at around GBP350 million. JO Hambro holds a 4.5% stake in Currys and is the eighth-largest shareholder in Currys, the newspaper noted. In March, Elliott Advisors announced it will not make an official bid for Currys, after having made a roughly GBP750 million proposal. JD.com, another potential bidder for Currys, also said it would not be making a bid. On AIM, Mirriad Advertising leapt 37%. The provider of in-content advertising technology struck a deal with TripleLift, an operator of supply-side digital advertising platform. As part of the pact, TripleLift will facilitate automated selling of Mirriad's in-content advertising inventory into leading media buying platforms such as Google's DV360. In Tuesday's UK corporate calendar, Imperial Brands releases a trading statement. The economic calendar week has consumer and producer price inflation data for the US out on Wednesday and Thursday respectively, while inflation figures for China and the latest European Central Bank interest rate decision are also out on Thursday. On Friday, German CPI is out, alongside UK gross domestic product data. |
Posted at 07/4/2024 10:00 by apotheki UPSBeacon Energy / LSE:BCE Share price = 0.0575 [mid] Reason: The upcoming SCHB-2 sidetrack operation. Beacon Energy has confirmed that the rig mobilisation is on track with the rig due to arrive on location in mid-April with the sidetrack operation scheduled to commence the following week. Now that we are in a new tax year as with other small caps Beacon Energy has all the potential to perform very well share price wise especially given the potentially extremely positive developments mentioned in paragraph one [plus see most recent RNS] Recommendation: Strong BUY [at these very low share price levels] |
Posted at 02/4/2024 11:17 by master rsi SMALL-CAP WINNERS & LOSERS: Renewi opens hard plastics sorting siteSMALL-CAP - WINNERS CMC Markets PLC, up 2.5% at 223.00 pence, 12-month range 86.90p-225.00p. The online trading firm's share price improves after RBC raises its price target for CMC Markets to 240p from 190p. RBC rates CMC Markets at 'outperform'. On Wednesday last week, CMC Markets raised its full-year outlook after a positive fourth quarter. In a trading update for the financial year ending March, the London-based online trading firm said it expects full-year net operating income to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. This would be up from GBP288.4 million in financial 2023. Following the strong trading performance seen in the third quarter, the positive momentum continued in the fourth quarter, CMC said. ---------- Renewi PLC, up 2.8% at 590.00p, 12-month range 446.50p-749.00p. The company which turns waste into recycled products opens a hard plastics sorting facility in Acht, Netherlands. It says the opening of the new facility advances its recycling efforts and solidifies its position as a leader in the sector and reducing reliance on traditional waste disposal methods. Renewi says: "The Acht facility showcases Renewi’s innovative approach towards future recycling processes and will help increase the company's recycling rate further. Renewi aims to expand partnerships with industry leaders and stakeholders, reaffirming its commitment to sustainability and helping leading the charge towards a waste-free future." SMALL-CAP - LOSERS Synthomer PLC, down 2.4% at 253.50p, 12-month range 14.44p-301.37p. The chemicals manufacturer's share price falls, despite Jefferies raising its price target for Synthomer to 220p from 130p. Jefferies rates Synthomer at 'hold'. Last month, Synthomer said its loss widened in 2023 as revenue dropped, but said it had been taking "decisive actions" for longer term growth. Revenue fell 15% to GBP1.97 billion in 2023 from GBP2.33 billion the year before, due to a reduction in volume and pass through of lower raw material input prices, the firm explained. Pretax loss widened significantly to GBP106.8 million from GBP34.2 million as a result. Looking ahead, Synthomer said trading since the start of 2024 had been "cautiously encouraging", due to short-term restocking by customers. |
Posted at 28/3/2024 11:42 by master rsi JOG 165.50p +15pJersey Oil & Gas (JOG LN) - Share price fall creates opportunity Zeus Capital - Daniel Slater, CFA - 28 Mar 2024 Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors..... more but needs signing in |
Posted at 27/3/2024 22:23 by master rsi MARKET REPORTLONDON MARKET CLOSE: FTSE 100 treads water ahead of US PCE data (Alliance News) - Stock prices in London closed slightly higher on Wednesday, as investors look firmly ahead to Friday's key inflation reading from the US. Amongst individual stocks, DS Smith rose on the back of takeover talks with International Paper. Diploma climbed, as shareholders were pleased with its GBP236 million acquisition. The FTSE 100 index closed up 1.02 points at 7,931.98. The FTSE 250 ended up 33.02 points, 0.2%, at 19,810.66, and the AIM All-Share closed up 2.59 points, 0.4%, at 742.11. The Cboe UK 100 ended down marginally at 793.08, the Cboe UK 250 closed up 0.3% at 17,225.15, and the Cboe Small Companies ended up 0.1% at 14,644.71. In European equities on Wednesday, the CAC 40 in Paris ended up 0.2%, while the DAX 40 in Frankfurt ended up 0.5%. This week, markets are awaiting the core personal consumer expenditure price index for February, which is the Fed's preferred inflation reading. It is due out on Friday, when markets are closed for Good Friday. Markets will reopen on Tuesday, after Easter Monday. According to FXStreet, the core PCE index is expected to unchanged annually at 2.8%. On a monthly basis, the reading is expected to ebb slightly to 0.3% in February, from 0.4% in January. "It's worth emphasising that the month-to-month readings need to cool down. This cooling is crucial because if they don't, disinflation against the 12-month readings, which the Fed uses to gauge progress, may halt and potentially reverse," said SPI Asset Management's Stephen Innes. Stocks in New York were higher at the London equities close, with the DJIA up 0.6%, the S&P 500 index up 0.4%, and the Nasdaq Composite up 0.1%. Meanwhile, numbers on Wednesday showed that consumer confidence and economic sentiment in the eurozone picked up this month. According to Eurostat's indicator, the single currency area's consumer confidence picked up to negative 14.9 points in March, from minus 15.5 in February. The reading was in line with a flash estimate. It is the strongest consumer confidence reading in just over two years. The wider economic sentiment index picked up to 96.3 points in March, from 95.5 in February. Analysts at ING said: "The end of a long period of stagnation in the eurozone is getting closer as businesses are becoming more upbeat about the months ahead. Inflation expectations for services are becoming more benign, which will confirm the ECB's view that rates can moderate." The pound was quoted at USD1.2630 at the London equities close Wednesday, up compared to USD1.2626 at the close on Tuesday. The euro stood at USD1.0823 at the European equities close Wednesday, lower against USD1.0828 at the same time on Tuesday. Against the yen, the dollar was trading at JPY151.35, down compared to JPY151.50 late Tuesday. In the FTSE 100, DS Smith jumped 8.7%. After the market close on Tuesday, DS Smith confirmed that it was in talks with International Paper, regarding a possible all share takeover offer. Under the terms of the proposal, DS Smith shareholders would receive 0.1285 shares in International Paper for each share they own in DS Smith. Based on International Paper's share price of USD40.85 at close of business on Monday, the terms represent a value of 415 pence per share. This would value DS Smith at around GBP6.2 billion. Talks with Mondi will also continue. Earlier this month, Mondi and DS Smith agreed a deal in principle which valued each share in DS Smith at 373p. Mondi shares closed up 1.1%. Diploma rose 9.5%, after it announced the proposed acquisition of Peerless Aerospace Fastener for around GBP236 million. The London-based supplier of specialised technical products and services said it expects the transaction to complete in the next few weeks, following customary regulatory clearances. Peerless Aerospace Fastener is a Farmingdale, New York-based distributor of specialty fasteners into the US and European aerospace markets. In the FTSE 250, TI Fluid Systems shares tumbled 15%. Shares fell after an investor sold a block of shares at a heavily discounted price. Broker Peel Hunt said BC Omega Holdco Ltd has sold 50.0 million shares in TI Fluid at 135p each by way of any accelerated bookbuild to institutional investors, raising GBP67.5 million. Amongst London's small-caps, CMC Markets surged 17%. In a trading update for the financial year ending March, the London-based online trading firm said it expects full-year net operating income to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. This would be up from GBP288.4 million in financial 2023. "CMC has seen a sharp upgrade cycle in the past few months, the strength of which has caught us by surprise, emphasising the significant effect of operating leverage and how quickly fortunes can turn in this sort of business," said Shore Capital analyst Vivek Raja. Brent oil was quoted at USD85.41 a barrel at the London equities close Wednesday, down from USD85.94 late Tuesday. Gold was quoted at USD2,190.33 an ounce at the London equities close Wednesday, higher against USD2,176.17 at the close on Tuesday. In Thursday's UK corporate calendar, JD Sports Fashion will publish full year results. The economic calendar for Thursday has a handful of results from the US, including GDP, initial jobless claims, and the Michigan consumer sentiment index. |
Posted at 27/3/2024 12:50 by master rsi MARKET REPORTLONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US PCE data (Alliance News) - Stock prices in London were lower at midday on Wednesday, but trade was more confident in mainland Europe, with focus turning to the release of the US Federal Reserve's preferred inflation gauge on Friday. The FTSE 100 index was down 24.66 points, 0.3%, at 7,906.30. The FTSE 250 was down 50.36 points, 0.3%, at 19,727.28, and the AIM All-Share was up just 0.10 of a point at 739.62. The Cboe UK 100 was down 0.3% at 790.83, the Cboe UK 250 was down 0.2% at 17,138.00, and the Cboe Small Companies was up 0.2% at 14,646.40. In European equities on Wednesday, the CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was up 0.4%. Sterling was quoted at USD1.2636 at midday Wednesday, lower than USD1.2655 at the London equities close on Tuesday. The euro traded at USD1.0826, lower than USD1.0850, while against the yen, the dollar was quoted lower at JPY151.04 versus JPY151.34. The latest core personal consumption expenditures reading, the Fed's preferred inflation gauge, is released on Friday. Financial markets across the globe, including in London and New York, will be closed that day for Good Friday, however. According to FXStreet cited consensus, the rate of core PCE inflation is expected to have been unmoved at 2.8% in February. The headline rate is expected to have picked up to 2.5% in February, from 2.4% in January. "It's worth emphasizing that the month-to-month readings need to cool down. This cooling is crucial because if they don't, disinflation against the 12-month readings, which the Fed uses to gauge progress, may halt and potentially reverse. Indeed, the fact that 2.8% is only 0.2% above the year-end median in the new summary of economic projections isn't particularly comforting," said SPI Asset Management analyst Stephen Innes. "It indicates that the Fed doesn't anticipate significant progress in disinflation for the rest of 2024, despite their intention to cut rates three times during this period. Hence, It's understandable why investors are feeling anxious about the upcoming data releases, as there is not much margin to miss here." Stocks in New York were called to open higher. The Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite were all called up 0.4%. In London's FTSE 100, Diploma was the top performing stock, soaring 11%, after announcing the proposed acquisition of Peerless Aerospace Fastener, a distributor of specialty fasteners into the US and European aerospace markets, for around GBP236 million. The London-based supplier of specialised technical products and services said it expects the transaction to complete in the next few weeks, following customary regulatory clearances. DS Smith rose 8.4%. After the market close on Tuesday, DS Smith confirmed that it was in talks with International Paper, regarding a possible all share takeover offer. Under the terms of the proposal, DS Smith shareholders would receive 0.1285 shares in International Paper for each share they own in DS Smith. Based on International Paper's share price of USD40.85 at close of business on Monday, the terms represent a value of 415 pence per share. This would value DS Smith at around GBP6.2 billion. Talks would Mondi would also continue. Earlier this month, Mondi and DS Smith agreed a deal in principle which valued each share in DS Smith at 373p. Mondi shares were 0.9% higher. Sainsbury's rose 2.9%, after UBS raised its rating for the supermarket to 'buy' from 'neutral', setting an improved target price of 295 pence from 275p. Its current share price is 269.3p. AstraZeneca rose 1.6%, after the pharmaceutical firm announced two drug approvals in Japan. In collaboration with Sanofi, the pharmaceutical firm's Beyfortus treatment was approved for the treatment of lower respiratory tract disease caused by respiratory syncytial virus in infants and children. AstraZeneca expects Beyfortus to be available for the upcoming 2024/25 RSV season, in line with existing Japanese guidelines. Meanwhile, its Truqap treatment in combination with Faslodex has also been approved in Japan for the treatment of adult patients with various forms of breast cancer after treatment with hormone therapy. In the FTSE 250, Ithaca Energy rose 2.7%. The London-based North Sea oil and gas operator signed an exclusivity agreement with Eni for a "potential transformational combination" with substantially all of Eni's UK upstream assets. Eni has granted Ithaca Energy exclusivity for a period of four weeks from today. AJ Bell analyst Russ Mould commented on the Eni deal: "Ithaca Energy may talk about reducing investment in the UK North Sea thanks to the energy profits levy, but its actions and words are somewhat at odds given the announcement of a proposed share-based deal with Italy's Eni to acquire the latter's UK oil and gas fields. "This deal makes Ithaca the second-largest operator in the region and leaves Eni with a near-40% stake in the group. That said, disquiet in the industry at the way companies have been treated by the Treasury is real, with the lack of consistency, as much as the absolute rate of tax, a bone of contention in the sector." Among London's small-caps, Vanquis Banking rose 9.3%. The Bradford, England-based lender swung to a pretax loss in 2023 of GBP4.4 million from a profit of GBP110.1 million in 2022. This was despite net interest income rising 2.3% to GBP442.6 million from GBP432.7 million, and total income rising 1.7% to GBP488.8 million from GBP480.7 million. Impairment charges more than doubled to GBP166.1 million from GBP66.1 million, while operating costs rose 7.4% to GBP327.1 million from GBP304.5 million. Shares are still some 75% lower over the past 12 months, however. It had suffered a 50% plunge on March 11 when it warned income and pretax profit in 2024 would be substantially below market expectations. CMC Markets shot up 15%. The London-based online trading platform operator for retail investors and financial institutions expects net operating income in the financial year ending Sunday to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. It also expects operating costs to be in line with guidance at around GBP240 million, while noting it continues to identify opportunities for further cost savings across the global business as it focuses on improving profit margins. Asos lost 1.9%, giving back gains from Tuesday, when it backed its yearly outlook after reporting progress on its stock clearing efforts, although half-year sales declined. Meanwhile, on Wednesday both Asos and boohoo promised to make "accurate and clear" environmental claims for their fashion items, following a probe by the UK Competition & Markets Authority. The duo's pledge, also made by Asda's George offering, will mean consumers "can now expect to see accurate and clear green claims when shopping for fashion items", the UK watchdog explained. "The undertakings secured by the Competition & Markets Authority commit Asos, Boohoo and George at Asda - which together make over GBP4.4 billion annually from UK fashion sales alone - to change the way they display, describe, and promote their green credentials," the CMA added, also noting that all three retailers made these undertakings "without any admission of wrongdoing or liability". boohoo rose 2.3% on AIM in London. Gold was quoted at USD2,196.28 an ounce at midday Wednesday, higher than USD2,171.90 on Tuesday. Brent oil was trading at USD85.13 a barrel, lower than USD86.00 late Tuesday. |
Posted at 27/3/2024 09:19 by master rsi MARKET REPORTLONDON MARKET OPEN: FTSE 100 slips as unease lingers before US data (Alliance News) - Stock prices in London edged lower after the open on Wednesday, with some nervy trade ahead of a US inflation reading later in the week. The latest core personal consumption expenditures reading, the Fed's preferred inflation gauge, is released on Friday. Financial markets across the globe, including in London and New York, will be closed that day for Good Friday, however. The FTSE 100 index opened down 13.02 points, 0.2%, at 7,917.94. The FTSE 250 was down 23.35 points, 0.1%, at 19,754.29, and the AIM All-Share was up 0.27 of a point at 739.79 The Cboe UK 100 was down 0.2% at 791.57, the Cboe UK 250 was marginally down at 17,166.97, and the Cboe Small Companies was up 0.1% at 14,639.45. In European equities on Wednesday, the CAC 40 in Paris was marginally higher, while the DAX 40 in Frankfurt edged up 0.1%. Sterling was quoted at USD1.2620 early Wednesday, lower than USD1.2655 at the London equities close on Monday. The euro traded at USD1.0825 early Wednesday, lower than USD1.0850 late Tuesday. Against the yen, the dollar was quoted higher at JPY151.78 versus JPY151.34. "We expect dollar crosses to keep stabilising until Friday's US PCE," analysts at ING commented. "When it comes to Fed pricing, we doubt expectations for the June meeting will change much this week unless we see a surprise in Friday's PCE. There is still 19bp priced in for June and 78bp by year-end, which pretty much mirrors the March median dot plot. Some quarter-end flows may slightly mix up the FX picture today, but the dollar appears in stabilisation mode." According to FXStreet cited consensus, the rate of core PCE inflation is expected to have been unmoved at 2.8% in February. The headline rate is expected to have picked up to 2.5% in February, from 2.4% in January. In the US on Tuesday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.1%, the S&P 500 down 0.3% and the Nasdaq Composite down 0.4%. Investors also digested some industrial data from China, while elsewhere in Asia, focus was also on the yen, which tumbled to a 34-year low. The unit weakened to JPY151.97 per dollar, its softest since 1990, raising speculation that authorities will intervene in markets to prop up the currency. But its value soon recovered to levels of around JPY151.72. The drop came after a top central bank official suggested it would continue to pursue an accommodative policy for the time being, echoing previous comments from the BoJ. In Asia on Wednesday, the Nikkei 225 index in Tokyo rose 0.9%. In China, the Shanghai Composite ended down 1.3%, while the Hang Seng index in Hong Kong lost 1.4%. The S&P/ASX 200 in Sydney closed up 0.5% In London's FTSE 100, Diploma was the top performing stock, soaring 12%, after announcing the proposed acquisition of Peerless Aerospace Fastener, a distributor of specialty fasteners into the US and European aerospace markets, for around GBP236 million. The London-based supplier of specialised technical products and services said it expects the transaction to complete in the next few weeks, following customary regulatory clearances. Smiths Group rose 7.4%, continuing gains from strong half-year results on Tuesday, when it also appointed a new chief executive officer and unveiled plans for a new GBP100 million share buyback programme. Sainsbury's improved 2.7%, after UBS raised its rating for the supermarket to 'buy' from 'neutral', setting an improved target price of 295 pence from 275p. Its current share price is 269.3p. AstraZeneca rose 1.0%, after the pharmaceutical firm announced two drug approvals in Japan. In collaboration with Sanofi, the pharmaceutical firm's Beyfortus treatment was approved for the treatment of lower respiratory tract disease caused by respiratory syncytial virus in infants and children. AstraZeneca expects Beyfortus to be available for the upcoming 2024/25 RSV season, in line with existing Japanese guidelines. Meanwhile, its Truqap treatment in combination with Faslodex has also been approved in Japan for the treatment of adult patients with various forms of breast cancer after treatment with hormone therapy. In the FTSE 250, Ithaca Energy fell 0.7%. The London-based North Sea oil and gas operator signed an exclusivity agreement with Eni for a "potential transformational combination" with substantially all of Eni's UK upstream assets. Eni has granted Ithaca Energy exclusivity for a period of four weeks from today. Executive Chair Gilad Myerson commented: "We believe this potential combination would be a strong strategic fit with Eni UK's cash generative portfolio complementing Ithaca Energy's high-quality, long-life asset base with significant development opportunity." Ithaca Energy also reported pretax profit in 2023 fell to USD302.0 million from USD2.24 billion in 2022, while revenue declined to USD2.32 billion from USD2.60 billion. It said full-year production of 70,200 barrels of oil equivalent per day was in line with its previously stated range of 68,000 to 74,000 boe per day, while it expects 2024 production of between 56,000 to 61,000. Among London's small-caps, CMC Markets rose 11%. The London-based online trading platform operator for retail investors and financial institutions said it expects net operating income in the financial year ending Sunday to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. It also expects operating costs to be in line with guidance at around GBP240 million, while noting it continues to identify opportunities for further cost savings across the global business as it focuses on improving profit margins. "Following the strong trading performance seen in the third quarter, the positive momentum continued in the fourth quarter. We continue to see strength in the institutional and [business-to-busines On AIM in London, Strix fell 4.5%, after it said a recent acquisition helped boost its annual revenue, but it lowered its dividend as it aims to focus on debt reduction. The Isle of Man-based provider of kettle safety controls said revenue jumped 35% to GBP144.6 million in 2023 from GBP106.9 million the year before. This was largely driven Billi Australia Pty Ltd, which it acquired back in 2022, and "continues to be highly profitable and is strongly cash generative." The full-year inclusion of Billi revenues stood at GBP41.3 million, Strix said. Billi is an Australia-based supplier of premium filtered and non-filtered instant boiling, chilled and sparkling water systems. Pretax profit rose by 9.9% to GBP17.7 million as a result, from GBP16.1 million the year before. Strix declared a total dividend for 2023 of 0.9 pence per share, down 85% from 6.0p the year before. In addition, it announced a "temporary pause in the final and interim dividend payments in calendar year 2024". Looking ahead, Strix said it is undertaking a rebasing of its core business in 2024 to "build strong foundations for medium-term growth opportunities as the market continues to recover." It added that Billi's double-digit revenue and profit growth is expected to continue, helped by a staged expansion into key European markets. Gold was quoted at USD2,178.63 an ounce early Wednesday, higher than USD2,171.90 on Tuesday. Brent oil was trading at USD84.80 a barrel, lower than USD86.00 late Tuesday. "Oil prices have dipped back...as traders weigh up continuing supply concerns amid data showing that stockpiles rose by more than expected in the US. Production in Russia is still under scrutiny, with Ukraine targeting refineries affecting around 12% of processing capacity, and Moscow ordering an output cut in the second quarter of the year to meet Opec reduction pledges," said Hargreaves Lansdown analyst Susannah Streeter. "But data from the US Department of Energy shows that stockpiles at the Strategic Petroleum Reserve rose by another 0.7 million barrels, to 363 million, the highest since last April. However, renewed attacks by Houthi rebels in the Red Sea over the past few days and the absence of a ceasefire in Gaza are set to help keep a floor under prices." Still to come on Wednesday's economic calendar, eurozone consumer confidence and economic sentiment index data come out at 1000 GMT. |
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