Upstream Share Discussion Threads

[master rsi] 03/4/2024 22:31

Director dealings: Airtel Africa non-exec keeps buying shares
(Sharecast News) - Indian Continent Investment, a firm linked to Airtel Africa non-executive director Shravin Bharti Mittal, added to its stake in the telecommunications group ahead of the Easter break.

On 28 March, the firm purchased approximately 1.140m shares, at £1.0593 apiece, through the London Stock Exchange.

The total transaction amount reached £1,207,338.17.

It followed a flurry of other large share purchases throughout the latter half of the second quarter.

Top Director Buys

Endeavour Mining (EDV)

Director name: Sawiris,Naguib

Amount purchased: 47,820 @ 2,838.58p

Value: £1,357,408.93

Airtel Africa (AAF)

Director name: Mittal,Shravin Bharti

Amount purchased: 1,139,751 @ 105.93p

Value: £1,207,338.17

Experian (EXPN)

Director name: Pentland,Louise

Amount purchased: 4,000 @ $42.63

Value: $140,598.66

Vanquis Banking Group 20 (VANQ)

Director name: Estlin,Sir Peter

Amount purchased: 200,000 @ 54.61p

Value: £109,220.00

Bellevue Healthcare Trust (red) (BBH)

Director name: Grewal ,Randeep Singh

Amount purchased: 62,874 @ 154.80p

Value: £97,328.95

Vanquis Banking Group 20 (VANQ)

Director name: Hewitt,Paul

Amount purchased: 72,297 @ 54.66p

Value: £39,517.54

Tpximpact Holdings (TPX)

Director name: Sweetland,Christopher Paul

Amount purchased: 110,000 @ 35.00p

Value: £38,500.00

Chesnara (CSN)

Director name: Hagh,Carol

Amount purchased: 10,000 @ 267.99p

Value: £26,799.00

Niox Group (NIOX)

Director name: Emms,Jonathan

Amount purchased: 31,007 @ 64.50p

Value: £19,999.51

Vanquis Banking Group 20 (VANQ)

Director name: Lindsay,Graham

Amount purchased: 35,324 @ 56.31p

Value: £19,890.94

Primary Health Properties (PHP)

Director name: Howell,Richard

Amount purchased: 21,633 @ 91.90p

Value: £19,880.73

Ct Private Equity Trust (CTPE)

Director name: Armour ,Craig

Amount purchased: 3,000 @ 446.00p

Value: £13,380.00

Bankers Inv Trust (BNKR)

Director name: Nandra,Ankush

Amount purchased: 10,000 @ 110.66p

Value: £11,066.30

Vanquis Banking Group 20 (VANQ)

Director name: Watts ,Dave

Amount purchased: 20,000 @ 54.56p

Value: £10,912.00

Natwest Group (NWG)

Director name: Davies,Howard

Amount purchased: 3,960 @ 267.20p

Value: £10,581.12

Vanquis Banking Group 20 (VANQ)

Director name: McLaughlin,Ian

Amount purchased: 18,451 @ 53.87p

Value: £9,939.55

Vanquis Banking Group 20 (VANQ)

Director name: Chambers,Elizabeth G

Amount purchased: 15,000 @ 51.59p

Value: £7,738.50

James Halstead (JHD)

Director name: Wild,Anthony

Amount purchased: 3,160 @ 202.50p

Value: £6,399.00

Natwest Group (NWG)

Director name: Flynn,Patrick

Amount purchased: 1,152 @ 267.20p

Value: £3,078.14

Natwest Group (NWG)

Director name: Lewis,Stuart

Amount purchased: 1,150 @ 267.20p

Value: £3,072.80

Natwest Group (NWG)

Director name: Dangeard,Frank

Amount purchased: 1,124 @ 267.20p

Value: £3,003.33

Natwest Group (NWG)

Director name: Donnelly,Roisin

Amount purchased: 1,104 @ 267.20p

Value: £2,949.89

Natwest Group (NWG)

Director name: Jetha,Yasmin

Amount purchased: 1,086 @ 267.20p

Value: £2,901.79

Natwest Group (NWG)

Director name: Wilson,Lena

Amount purchased: 988 @ 267.20p

Value: £2,639.94

Natwest Group (NWG)

Director name: Haythornthwait,Richard

Amount purchased: 724 @ 267.20p

Value: £1,934.53

Symphony Environmental Technologies (SYM)

Director name: Clavel,Nicolas

Amount purchased: 50,000 @ 3.50p

Value: £1,750.00

Synectics (SNX)

Director name: Webb ,Paul

Amount purchased: 800 @ 170.00p

Value: £1,360.00

Natwest Group (NWG)

Director name: Seligman, Mark

Amount purchased: 474 @ 267.20p

Value: £1,266.53

Bellevue Healthcare Trust (red) (BBH)

Director name: Grewal ,Randeep Singh

Amount purchased: 324 @ 153.91p

Value: £498.67



Top Director Sells

Balfour Beatty (BBY)

Director name: Quinn,Leo

Amount sold: 57,807 @ 381.54p

Value: £220,556.82

Quilter (QLT)

Director name: Satchel,Mark

Amount sold: 190,544 @ 105.38p

Value: £200,786.88

Balfour Beatty (BBY)

Director name: Harrison,Philip

Amount sold: 30,887 @ 381.54p

Value: £117,846.26

Phoenix Group Holdings (PHNX)

Director name: Thakrar,Rakesh

Amount sold: 20,439 @ 553.07p

Value: £113,041.30

Forterra (FORT)

Director name: Guyatt,Ben

Amount sold: 59,298 @ 172.60p

Value: £102,348.35

Bellevue Healthcare Trust (red) (BBH)

Director name: Grewal ,Randeep Singh

Amount sold: 63,198 @ 154.80p

Value: £97,830.50

Phoenix Group Holdings (PHNX)

Director name: Thakrar,Rakesh

Amount sold: 16,296 @ 553.07p

Value: £90,127.75

Quilter (QLT)

Director name: Levin ,Steven

Amount sold: 84,687 @ 105.38p

Value: £89,239.43

Rtc Group (RTC)

Director name: Dye,Sarah

Amount sold: 70,000 @ 95.00p

Value: £66,500.00

Quilter (QLT)

Director name: Satchel,Mark

Amount sold: 38,887 @ 105.38p

Value: £40,977.41

Tpximpact Holdings (TPX)

Director name: Sweetland,Christopher Paul

Amount sold: 110,000 @ 35.00p

Value: £38,500.00

Kromek Group (KMK)

Director name: Sharma,Rakesh

Amount sold: 587,602 @ 5.10p

Value: £29,955.95

Quilter (QLT)

Director name: Levin ,Steven

Amount sold: 26,126 @ 105.38p

Value: £27,530.43

Niox Group (NIOX)

Director name: Emms,Jonathan

Amount sold: 31,250 @ 64.00p

Value: £20,000.00

James Halstead (JHD)

Director name: Wild,Anthony

Amount sold: 3,160 @ 202.50p

Value: £6,399.00

[master rsi] 03/4/2024 22:08

MARKET REPORT
LONDON MARKET CLOSE: FTSE 100 up thanks to US economic data

(Alliance News) - Stock prices in London closed mostly higher on Wednesday, after some data from the US reinforced the interest rate cut trajectory across the Atlantic.

The FTSE 100 index closed up 2.35 points at 7,937.44. The FTSE 250 ended up 39.75 points, 0.2%, at 19,753.64, and the AIM All-Share closed down 0.32 of a point at 742.08.

The Cboe UK 100 ended down 0.1% at 793.01, the Cboe UK 250 closed up 0.1% at 17,166.93, and the Cboe Small Companies ended up 0.7% at 14,656.34.

In European equities on Wednesday, the CAC 40 in Paris ended up 0.4%, while the DAX 40 in Frankfurt ended up 0.5%.

On Wednesday afternoon, there has been some US data for investors to digest.

The US private sector added more jobs in March than a month earlier, numbers from payroll processor ADP showed on Wednesday.

Private sector employment increased by 184,000 jobs in March, rising from 155,000 in February.

February's job growth was ahead of the FXStreet-cited market consensus of 148,000.

Annual wage growth for job-changers rose by 5.1% in March. For job stayers annual wage growth increased by 10%.

"The market is increasingly assuming that a US rate cut is some months away," said Kathleen Brooks, research director at XTB.

"After another strong data report, this time the March ADP private sector payrolls report, the market is increasingly expecting fewer rate cuts from the Fed this year, with the first rate cut currently on a knife edge between July and September."

Meanwhile, a senior bank official said the current strength of the US economy means the Federal Reserve should cut interest rates just once this year, and not until the final quarter.

Atlanta Fed President Raphael Bostic, who is a voting member of the Fed's rate-setting committee this year, told CNBC he now thinks the Fed should make just one cut this year – below the three that were predicted by Fed officials in March.

There was also data on the US service sector.

The seasonally adjusted S&P Global US Services purchasing managers' index edged down to 51.7 in March, a three-month low, from 52.3 in February. Falling closer to the 50-mark separating growth from contraction, it indicates growth decelerated.

Meanwhile, the S&P Global US composite PMI output index fell to 52.1 in March from 52.5 in February.

Separately, the Institute for Supply Management reported that the services PMI edged down to 51.4 in March from 52.6 in February.

"The renewed fall in the ISM services index in March is consistent with the message from the hard data that economic growth is slowing from the unsustainably strong pace in the second half of last year," analysts at Capital Economics said.

Stocks in New York were higher at the London equities close, with the DJIA up 0.2%, the S&P 500 index up 0.4%, and the Nasdaq Composite up 0.6%.

The pound was quoted at USD1.2630 at the London equities close Wednesday, up compared to USD1.2564 at the close on Tuesday. The euro stood at USD1.0827 at the European equities close Wednesday, higher against USD1.0771 at the same time on Tuesday. Against the yen, the dollar was trading at JPY151.72, up compared to JPY151.60 late Tuesday.

In London's FTSE 100, Prudential lost 2.7% to 720.40 pence, after Barclays cut the insurer's price target to 1,390p per share from 1,640p, while Barclays rates the stock at 'overweight'.

In the FTSE 250, International Distributions Services rose 4.3%.

IDS unit Royal Mail proposed a change to its UK letter delivery offering, as it grapples with weaker volumes, in a move which could see "fewer than 1,000 voluntary redundancies".

The measures could trim the net cost of the UK postal universal service operation by GBP300 million per year.

"This is very dependent on how quickly reform is enacted and the rate of letter decline. These savings would allow Royal Mail to continue to invest in the modernisation and transformation of the business to provide products and services that customers want and reduce its environmental impact," IDS said.

On AIM, Genedrive shares surged 39%.

The molecular diagnostics company announced that the UK's National Institute for Health & Care Excellence has recommended in draft guidance that Genedrive's CYP2C19-ID test should be used as the point-of-care test of choice for ischemic stroke and transient ischaemic attack patients.

Brent oil was quoted at USD89.69 a barrel at the London equities close Wednesday, up from USD88.11 late Tuesday.

Gold was quoted at USD2,286.90 an ounce at the London equities close Wednesday, up against USD2,266.55 at the close on Tuesday.

In Thursday's UK corporate calendar, there are full year results from LungLife AI.

The economic calendar for Thursday has a producer price reading from the eurozone at 1000 BST.

There is also a slew of composite PMI data from the eurozone, Germany, and the UK.

Across the Atlantic, there is the weekly initial jobless claims from the US.

Meanwhile, financial markets will be closed in Hong Kong and Shanghai will be closed for Tomb Sweeping Day.

[master rsi] 03/4/2024 21:47

DOW

At the end another day down with 43 points....

The pan-European STOXX 600 index rose 0.29%, as the ISM data cheered European investors.
On Wall Street, the S&P 500 gained 0.11%
and the Nasdaq Composite added 0.23%,
but the Dow Jones Industrial Average fell 0.11%.

The Fed should not cut its benchmark rate until year's end, Atlanta Fed President Raphael Bostic told broadcaster CNBC, maintaining his view that policymakers should reduce borrowing costs only once in 2024.

[master rsi] 03/4/2024 16:54

How the UPS are performing during last month

[master rsi] 03/4/2024 16:37

How the UPS are performing today

[master rsi] 03/4/2024 16:24

FTSE 100 movers: Banks and miners gain; RS Group retreats
(Sharecast News) - London's FTSE 100 was down 0.1% at 7,926.24 in afternoon trade on Wednesday.

Precious metals miner Fresnillo shone as gold prices reached another record high.

Banks and miners were among the top gainers, with NatWest, Standard Chartered, HSBC, Antofagasta and Glencore all up.

RS Group was in the red as RBC Capital Markets said the company was "well placed" to benefit from a recovery in PMIs with associated operating leverage, along with the potential for further share gains and M&A but cut estimates on caution for 2025.

However, it also said that going into its new financial year, PMIs remain below 50 in Europe, while some question marks remain around the US business, where growth was -19% in Q3.

"In addition, wage inflation is likely to remain a headwind. As such we reduce our 2025E/26E EPS forecasts by 8%/5% and expect profit recovery to be pushed out."

The bank kept its 'outperform' rating on the shares and 925p price target.

FTSE 100 - Risers

Fresnillo (FRES) 518.50p 2.57%

NATWEST GROUP (NWG) 271.80p 1.76%

Standard Chartered (STAN) 689.60p 1.62%

Pershing Square Holdings Ltd NPV (PSH) 4,078.00p 1.54%

Marks & Spencer Group (MKS) 265.90p 1.49%

Smith (DS) (SMDS) 401.20p 1.36%

Ocado Group (OCDO) 441.00p 1.17%

Antofagasta (ANTO) 2,090.00p 1.16%

Glencore (GLEN) 453.30p 1.09%

HSBC Holdings (HSBA) 628.10p 1.08%

FTSE 100 - Fallers

BT Group (BT.A) 104.85p -4.46%

RS Group (RS1) 690.00p -2.89%

Prudential (PRU) 720.60p -2.62%

Admiral Group (ADM) 2,725.00p -1.91%

Smiths Group (SMIN) 1,627.00p -1.81%

B&M European Value Retail S.A. (DI) (BME) 529.60p -1.71%

Centrica (CNA) 124.85p -1.62%

Berkeley Group Holdings (The) (BKG) 4,584.00p -1.42%

IMI (IMI) 1,801.00p -1.37%

Scottish Mortgage Inv Trust (SMT) 854.20p -1.36%

[master rsi] 03/4/2024 15:39

GOLD on the way down

BTC - Bitcoin on the way up

OIL price on the up to $89.50

[master rsi] 03/4/2024 15:20

EEE 7.35p +0.35p

A new Intraday BREAKOUT

[master rsi] 03/4/2024 14:40

DOW

Still feeling sick and is down to 10 points

[master rsi] 03/4/2024 14:21

Calnex ends tougher year in line with market forecasts
(Sharecast News) - Telecommunications and cloud computing test and measurement specialist Calnex Solutions said in an update on Wednesday that for the 2024 financial year, it anticipated results in line with market expectations, with revenues reaching £16.3m and margins maintained.

The AIM-traded company said it had adjusted its cost base, focusing research and development spend to capitalise on available opportunities while controlling other costs.

Despite ongoing challenges in the telecoms sector, customer engagement levels remained high, instilling confidence that improvements in the telecoms market outlook would lead to project recommencements and resumed customer spending.

Calnex said it was well-positioned to fulfil orders related to those projects once activity levels increased.

Its management said it was encouraged by the positive engagement with customers on the company's new product programmes.

Continued order growth from the defence and cloud computing sectors was expected to facilitate Calnex's return to growth in the 2025 financial year and beyond.

The engineering programmes had been directed toward opportunities showing near-term resilience and potential within the established telecoms market, and in the emerging markets of cloud computing and defence.

In the telecoms market, focus was on 800 gigabits-per-second synchronisation testing, where there was growing customer demand.

A major new release in the second half of 2025 was anticipated to support leading-edge 800 gigabits-per-second interface testing.

Despite ongoing challenges in the telecoms market, the transition to 5G and further development of O-RAN were expected to drive long-term transformation and demand for Calnex's lab synchronisation products.

Calnex said its products targeting the cloud computing and data centre markets, such as SNE-X, SNE Ignite, and NE-ONE, were receiving encouraging interest and initial orders.

Over the medium term, the cloud computing market represented a significant opportunity for Calnex, driven by investment to support growth in artificial intelligence (AI), virtual reality, and increasing data centre demand.

The company said it was exploring new opportunities in network time monitoring, data centre efficiency, and effectiveness.

Additionally, good order levels for its application assurance offering, NE-ONE, in the defence, government, and satellite markets were expected to continue in the 2025 financial year.

To maximise those opportunities, Calnex said it was optimising its market approach for its suite of cloud-focused offerings, bringing together its cloud infrastructure and application teams to develop a consistent additional revenue stream.

"In the face of a challenging telecoms market we have successfully adjusted the focus of our engineering programmes towards the markets showing the most resilience and opportunity, with positive customer conversations taking place across each of our new product programmes," said founder and chief executive officer Tommy Cook.

"The cloud computing market in particular represents an increasingly exciting opportunity and with the long-term growth drivers in the telecoms market remaining intact, we are well placed to return to growth in the 2025 financial year and beyond."

Calnex said it would announce audited results for the year ended 31 March on 21 May.

[master rsi] 03/4/2024 13:54

MC Mining reiterates opposition to Goldway takeover offer
(Alliance News) - MC Mining Ltd on Wednesday reiterated that its shareholders should reject an offer from Goldway Capital Investment Ltd.

Goldway, a consortium including MC Mining's largest shareholders Senosi Group Investment Holdings and Dendocept, has offered 16 Australian cents per share, or approximately 8.28 pence. Goldway first launched its takeover bid for MC Mining in February.

The offer closes on Friday, unless it is extended or withdrawn by Goldway, MC Mining said.

In Sydney, MC Mining shares closed flat at AUD0.14 on Monday. The shares were flat at 7.24 pence on Wednesday in London, but they lost 8.1% to ZAR1.70 each in Johannesburg.

MC Mining said Goldway had claimed that the group's independent expert had adopted a market value approach to valuation, which "does not consider any potential future operating cashflow generated from MCM's assets".

It said Goldway had made "false assertions" that its Vele Aluwani Colliery is on care and maintenance.
MC Mining has maintained that Goldway's takeover offer undervalued the coal producer.

"The IBC confirms and reiterates its unanimous recommendation that Shareholders DO NOT ACCEPT the offer," the company said, referring to its independent board committee.

[master rsi] 03/4/2024 12:21

How the UPS are performing during last month

[master rsi] 03/4/2024 12:06

How the UPS are performing today

[master rsi] 03/4/2024 11:53

Shearwater shares fall as misses annual market expectations

(Alliance News) - Shearwater Group PLC shares dropped on Wednesday, after it said its financial 2024 results are below expectations.

Shares in the London-headquartered cybersecurity services provider were down 14% to 42.80 pence each in London on Wednesday morning.

In the financial year ended March 31, revenue is expected to fall to about GBP22.5 million from GBP26.7 million a year earlier.

However, Shearwater is expected to swing to an adjusted earnings before interest, tax, depreciation and amortisation of GBP1 million from a loss of GBP200,000.

The company noted that this is below market expectations.

"As guided at the half year, trading is traditionally weighted to the second half and whilst the Group was bolstered at the beginning of Q3 with visibility of sales opportunities across both the Services and Software divisions, it continued to experience delays in concluding larger contracts which were expected and remain in negotiation," it explained.

[master rsi] 03/4/2024 11:07

EEE 7.10p +0.05p

On a day when the Indices were well down from the start, EEE has managed to keep up with events and slowly is building with confidence and bigger buyers are appearing on AQUIS



Is moving up after paying a higher price 7.18 and then 7.22p earlier was 7.10p
bid up to 6.90p

[master rsi] 03/4/2024 10:38

Korean "Artificial Sun" Shatters Fusion Energy World Record / Story by Camilla Jessen

In the quest for clean and sustainable energy, a South Korean fusion reactor, dubbed the "artificial sun," has achieved a monumental milestone. By sustaining a plasma temperature of 100 million degrees Celsius for an impressive 48 seconds, the Korea Superconducting Tokamak Advanced Research (KSTAR) facility has not only broken its previous record but also taken a significant leap towards the future of fusion energy.

This temperature, seven times hotter than the Sun's core, is a critical step in harnessing the power of fusion, the same process that powers stars, to potentially provide humanity with an almost endless supply of clean energy.

What is Fusion Energy?
Fusion energy is the process of forcing positively charged hydrogen nuclei to merge under extreme conditions of heat or pressure, releases vast amounts of energy. This energy, once efficiently harnessed, promises to fuel our planet with clean and inexpensive electricity. The process requires achieving and maintaining extremely high temperatures to create and sustain a plasma state, where hydrogen isotopes collide and fuse, releasing energy.

[master rsi] 03/4/2024 10:14

TPT 43.30p (-0.70 / -1.59%%) / Topps Tiles sales slip as muted demand for "big ticket" items weighs
(Alliance News) - Topps Tiles PLC on Wednesday said first half sales fell as subdued retail demand offset a more resilient showing from trade customers.

In a trading update for the 26-week period ended March 30, Topps Tiles said total sales fell 5.9% to GBP122.6 million from the year before.

The weaker market, higher pay and seasonally higher energy usage would weigh on first half profit, the Leicester-based tile retailer said. Annual profit is expected to be weighted towards the second half.

The company said subdued demand in the domestic repair, maintenance and improvement sector, especially for bigger ticket projects, has persisted into 2024, resulting in lower footfall into stores.

But trade customers once again proved more resilient, although trade sales were also lower year-on-year, the firm said.

Topps Tiles said like-for-like sales were 11% lower year-on-year in the second quarter, driven by lower footfall and volume.

Gross margin improved, as cost of goods pressures continued to ease, but net profit was hit by lower volumes, operating cost inflation and the impact of operational gearing.

Trading in the online Pure Play business remained strong, with good growth in Pro Tiler and positive sales progress in Tile Warehouse, resulting in year-on-year sales growth of 38%.

Parkside continues to show a significant year-on-year improvement in its financial performance, the firm added, with the business expected to be at breakeven over the first half.

Topps Tiles said it was "well positioned" to benefit from a cyclical recovery in the RMI market and remains in a strong financial position, with a robust balance sheet.

The company said it would discuss new goal and future profit growth opportunities alongside interim results in May.

[master rsi] 03/4/2024 09:53

Spire Healthcare sells Tunbridge Wells hospital to the NHS

(Alliance News) - Spire Healthcare Group PLC said on Wednesday that it sold a leasehold hospital as part of its proactive approach to portfolio management and commitment to growth.

The leading UK private healthcare provider sold its Spire Tunbridge Wells leasehold hospital to the local NHS Trust for a total consideration of GBP10 million.

In 2023 the hospital generated revenue of GBP12.7 million and earnings of GBP1.1 million before interest, taxes, depreciation and amortization.

The company said: "This transaction reflects Spire Healthcare's continued focus on disciplined capital allocation and meeting its stated return on capital employed targets."

A transaction period of approximately six months is expected, during which the company will continue to manage operations at the hospital.

The company retains a portfolio of 38 hospitals, 19 of which are freehold.

Spire shares were down 0.6% to 232.00 pence each in London on Wednesday morning.

[master rsi] 03/4/2024 09:35

GDR 5.65p +1.90p

Has been rising for the last couple days and today is well up with news...

NICE recommends the Genedrive® CYP2C19-ID Kit
Genedrive® CYP2C19-ID test for genotype-guided clopidogrel treatment in the NHS
chosen as the preferred platform for UK point-of-care genotype testing

Genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, announces that the UK's National Institute for Health and Care Excellence ("NICE") has recommended in draft guidance that the Genedrive® CYP2C19-ID test should be used as the point-of-care ("POC") test of choice before clopidogrel administration in the management of Ischemic Stroke ("IS") and Transient Ischaemic Attack ("TIA") patients.

Clopidogrel is an antiplatelet drug used after IS or TIA to reduce the risk of blood clots that can cause further strokes. Clopidogrel is metabolised into its active form by an enzyme encoded by the CYP2C19 gene which in some people has variations that reduce the enzyme's function which means that clopidogrel does not work as well in these people.

The Genedrive® CYP2C19-ID point of care genetic test uses a single, non-invasive cheek swab sample, and rapidly identifies six important genetic variants of the CYP2C19 gene, which are instrumental in the loss of metabolism function. The Genedrive® System automatically interprets the information for the clinician, allowing prompt administration of an optimised treatment plan.

According to the World Stroke Organization, there are over 77 million people globally who currently have experienced ischaemic stroke and it is estimated by the Stroke Association that there are 100,000 strokes in the UK each year. Suboptimal response to antiplatelet treatment following stroke is common, affecting about 20%-30% of patients in the general UK population, which increases to about 50%-60% in certain ethnic groups.

NICE recommended in the May 2023 draft guidance that people who have just had an IS or TIA should have a CYP2C19 genetic test prior to antiplatelet treatment. Following a public consultation of this draft guidance, which ends on 26 April 2024, final recommendations are expected to be published by NICE on 10 July 2024. The public consultation documents and summary review of NICE's information can be found at:



The specialist NICE diagnostics assessment committee systematically reviewed the clinical and economic impact of genetic testing, including both laboratory-based and POC tests, concluding that it would be beneficial for people with loss-of-function CYP2C19 alleles to receive alternative antiplatelet treatment to clopidogrel and CYP2C19 genotype testing is also cost effective compared with not testing regardless of which alternative antiplatelet therapy people have.

In addition to being dominant in cost effectiveness models, NICE recommends the Genedrive® as the point-of-care platform of choice for CYP2C19 genotyping strategies in the NHS. The decision was based on several differentiating features of the Genedrive® technology; (1) its greater coverage of genetic variants compared to the other point-of-care system assessed, permitting increased equitable access to healthcare across ethnic populations, (2) no requirement for cold-chain storage logistics, (3) its ability to integrate with patient electronic healthcare systems.

As previously communicated, the Company's ongoing valued long-standing partnership with clinical genetics collaborators in Manchester under the DEVOTE programme will supplement our existing clinical performance data used for UKCA certification and lead to anticipated CE-IVD certification and commercialisation within the European Union, and those additional countries that recognise CE-IVD, in early 2025. Following the completion of the DEVOTE clinical performance, together with final NICE recommendation due on 10 July 2024, the Company would intend to actively pursue commercialisation in the UK.

James Cheek, CEO of genedrive plc, said: "We are delighted to receive this recommendation from NICE for our CYP2C19 point of care pharmacogenetic test. The NHS has done significant work on both strokes and mini strokes, with campaigns for FAST (Face, Arms, Speech, Time) and promoting changing lifestyles to prevent a stroke. This guidance is just the next step in stroke management, ensuring that if you have a stroke, specifically related to a disruption of the blood flow, that the medicine given has a positive effect. Clopidogrel is the NICE recommended front line treatment for these types of strokes. However, if you are one of the estimated 20%-30% who are unable to metabolise Clopidogrel effectively you have the opportunity to be identified quickly and given an alternative medication. We are delighted to be part of this change which is in line with our strategy to deliver point-of-care pharmacogenetic testing to positively impact patient outcomes. With MT-RNR1 getting a NICE EVA conditional recommendation last year, further funding applied for to achieve a full recommendation this year, a strategy in place to achieve Food and Drug Administration ("FDA") approval and sales being realised from new customers in 2024 we feel there is growing momentum within the Group's POC pharmacogenetic testing strategy."

[master rsi] 03/4/2024 09:15

MARKET REPORT
LONDON MARKET OPEN: FTSE 100 down as US Fed cut conviction wanes

(Alliance News) - Stock prices in London opened down on Wednesday, as sentiment in global equities weakened with investors fretting over the US interest rate outlook.

This follows continued robust data showing the resilience of the US economy.

The FTSE 100 index opened down 37.00 points, 0.5%, at 7,898.09. The FTSE 250 was down 72.68 points, 0.4%, at 19,641.21, and the AIM All-Share was down 0.83 of a point, 0.1%, at 741.57.

The Cboe UK 100 was down 0.5% at 789.58, the Cboe UK 250 was down 0.5% at 17,057.31, though the Cboe Small Companies was up 0.1% at 14,562.59.

In European equities on Wednesday, the CAC 40 in Paris was up 0.1%, while the DAX 40 in Frankfurt was up 0.2%.

A senior Federal Reserve official confirmed that she recently raised her prediction for interest rates over the longer term due to the enduring strength of the US economy.

At the most recent rate meeting in March, Fed policymakers voted to hold interest rates at their current elevated levels, while pencilling in three rate cuts this year and lifting their expectation for where rates will settle over the long run to 2.6%.

Cleveland Fed president Loretta Mester, who is one of 12 policymakers with a vote on US monetary policy this year, said that she had hiked her own forecast, to 3.0% from 2.5%.

San Francisco boss Mary Daly said that three cuts was "a very reasonable baseline" but added that economic growth "is going strong, so there's really no urgency to adjust the rate".

XTB analyst Kathleen Brooks commented: "It's been an inauspicious start to the second quarter for global stocks, after a stunning rally in the first three months of the year. The markets are contending with high valuations, second thoughts about interest rate cuts, high commodity prices and some key economic data releases coming up later this week. These factors mean that equities are struggling to build on the strong gains of last quarter.

"The near-term catalyst for markets will be comments from Fed chair Powell on Wednesday, which will give the market an update on his policy outlook, and the non-farm payrolls report for the US that will be released on Friday. As we lead up to Friday's data, a strange dynamic is going on with interest rates. Market expectations for the first US rate cut have been pushed back to September, with less than 3 rate cuts priced in for 2024 as a whole. This is at odds with the Fed's own view, the March Dot Plot showed the median expectation was for 3 rate cuts this year."

In the US on Tuesday, Wall Street ended lower, with the Dow Jones Industrial Average down 1.0%, the S&P 500 down 0.7% and the Nasdaq Composite down 1.0%.

Sterling was quoted at USD1.2568 early Wednesday, largely flat from USD1.2564 at the London equities close on Tuesday. The euro traded at USD1.0770 early Wednesday, barely budging from USD1.0771 late Tuesday. Against the yen, the dollar was quoted at JPY151.70 early Wednesday, higher from JPY151.60 on Tuesday.

In London's FTSE 100, Prudential lost 1.8% to 727 pence, after Barclays cut the insurer's price target to 1,390p per share from 1,640p, while Barclays rates the stock at 'overweight'.

In the FTSE 250, Hilton Food gained 1.0%, after the food packaging firm reported growth in annual profit and lifted its dividend, hailing a "successful turnaround".

Pretax profit in 2023 surged 64% to GBP48.6 million from GBP29.6 million in 2022, while revenue rose 3.7% to GBP3.99 billion from GBP3.85 billion.

It proposed a final dividend of 23.0 pence per share, up 1.8% from 22.6p, taking the total annual dividend to 32.0p, a rise of 7.7% from 29.7p.

Looking ahead, Hilton Food said 2024 trading has started in line with board expectations. "The group's financial position remains strong, with improving leverage and headroom at comfortable levels, and we continue to explore new growth opportunities with existing partners, wider geographic expansion and complementary M&A," the company said.

Wizz Air ticked up 0.2%. The budget airline saying it carried 4.8 million passengers in March, up 12% from 4.3 million a year earlier, with a load factor of 90.8%, down from 92.2%.

Wizz Air said the load factor was impacted by one-directional visual flight rules traffic during the Easter period.

On a rolling 12-month basis, passenger numbers were up 21% to 62.0 million from 58.2 million, with a load factor of 90.1% versus 87.8%.

Fellow budget airline Ryanair said it carried 13.6 million passengers in March, up 7.9% from 12.6 million a year earlier, with an unchanged load factor of 93%. On a rolling 12-month basis, it carried 183.7 million passengers, up 9.0% from 168.6 million, with an increased load factor of 94% from 93%.

Ryanair climbed 1.2% in Dublin.

Back in London, Alpha Group International gained 2.1%, after it said it intends to apply for admission of its shares onto the Main Market in London and, in turn, cancel its listing on AIM.

The financial services firm expects this to take place next month, no earlier than May 2.

Admission is not expected to be conditional on shareholder approval, while Alpha Group International said it will make a further announcement on the status of its application in "due course".

"Our business is growing in size, becoming more global, and gaining interest from increasingly larger clients. We believe that a Main Market premium listing will serve to further enhance our reputation and support our market penetration as we move into additional countries and engage larger clients," the company said.

In Asia on Wednesday, the Nikkei 225 index in Tokyo lost 1.0%. In China, the Shanghai Composite inched down 0.2%, while the Hang Seng index in Hong Kong lost 1.3%. The S&P/ASX 200 in Sydney closed down 1.3%

Brent oil was trading at USD89.05 a barrel early Wednesday, higher than USD88.11 late Tuesday.

Gold was quoted at USD2,272.15 an ounce early Wednesday, higher than USD2,266.55 on Tuesday.

Still to come on Wednesday's economic calendar, there are eurozone consumer price inflation and unemployment readings at 1000 BST. The latest ADP US jobs report is released at 1315 BST, before a pair of US PMIs at 1445 BST and 1500.

[master rsi] 03/4/2024 08:49

Shares fall with US yields near 4-month high, earthquake hits Taiwan

Meanwhile, the dollar got a modest boost from higher Treasury yields. The yen was jittery at 151.72 per dollar, just a whisker away from the 152 level that prompted Japanese monetary authorities to intervene in late 2022.

Oil held near five-month highs, driven by concern about tighter supplies ahead of an OPEC+ meeting, where the group is unlikely to change output policy.

Brent rose 0.25% to $89.14 a barrel, while U.S. crude gained 0.15% to trade at $85.28.

Gold took a breather from its record rally on Wednesday, edging down 0.3% $2,274 an ounce, having hit an all-time high of $2,288.09 earlier in the session.

Meanwhile, the dollar got a modest boost from higher Treasury yields. The yen was jittery at 151.72 per dollar, just a whisker away from the 152 level that prompted Japanese monetary authorities to intervene in late 2022.

Oil held near five-month highs, driven by concern about tighter supplies ahead of an OPEC+ meeting, where the group is unlikely to change output policy.

Brent rose 0.25% to $89.14 a barrel, while U.S. crude gained 0.15% to trade at $85.28.

Gold took a breather from its record rally on Wednesday, edging down 0.3% $2,274 an ounce, having hit an all-time high of $2,288.09 earlier in the session.