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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| 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 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | 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 |
|---|---|---|---|
| 01/2/2025 | 23:26 | SHARES STRONGLY UP during FEBRUARY 2025 | 6 |
| 31/1/2025 | 23:51 | SHARES STRONGLY UP during JANUARY 2025 | 639 |
| 01/1/2025 | 18:38 | SHARES STRONGLY UP during DECEMBER 2024 | 528 |
| 30/11/2024 | 19:45 | SHARES STRONGLY UP during NOVEMBER 2024 | 583 |
| 31/10/2024 | 23:24 | SHARES STRONGLY UP during OCTOBER 2024 | 620 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 31/1/2025 13:15 by master rsi MARKET REPORTLONDON MARKET MIDDAY: FTSE 100 at new peak ahead of US inflation print (Alliance News) - The FTSE 100 traded close to new all-time highs around midday on Friday, led by an 11% jump in Smiths Group, ahead of key US inflation data. The blue-chip index is on track to post a gain of around 6.2% for January, its biggest monthly gain since November 2022. Russ Mould at AJ Bell said: "Investors will be relieved that the markets have successfully negotiated a week full of major events including a Federal Reserve interest rate meeting and the start of the Magnificent Seven earnings season." "Later on, there’s one more hurdle to get over this week as core PCE inflation data is released in the US. This metric is a big factor in informing the decision making of the Fed so a surprise in either direction could make markets increasingly febrile again." The FTSE 100 index climbed 33.01 points, 0.4%, at 8,679.97. It earlier hit a new high of 8,692.84. The FTSE 250 was up 77.66 points, 0.4%, at 20,882.73, and the AIM All-Share firmed 0.57 of a point, 0.1%, at 718.80. The Cboe UK 100 was up 0.3% at 869.85, the Cboe UK 250 rose 0.4% to 18,273.39, but the Cboe Small Companies was down 0.5% at 15,849.94. The feel good factor in equities spread to Europe. In Frankfurt, the DAX 40 rose 0.3% in early afternoon trade, just below a new intra-day all-time high, while the CAC 40 was 0.5% to the good. Over in New York, the Dow Jones Industrial Average is called up 0.3%, the S&P 500 is seen rising 0.5% and the Nasdaq Composite 0.8% higher. Apple, the world's most valuable listed firm, is 3.5% higher in premarket trading after a mixed results. The firm delivered better than expected earnings, and reassuring guidance, despite weak iPhone sales and a muted showing in China. Gains in stock markets came despite fresh warnings of tariffs from Donald Trump, which prompted fresh dollar strength. Deutsche Bank's Jim Reid noted Trump has said that he plans to follow through on his threat to impose 25% tariffs on February 1, saying that "we’ll be announcing the tariffs on Canada and Mexico for a number of reasons", citing trade deficits, immigration and fentanyl flows. But Reid said Trump's comments did leave an open question on the exact scope of tariffs to be announced, notably saying he was still considering whether Canadian oil would be exempted. "We’ll have to wait and see just what measures are implemented, or indeed if last minute concessions might yet be reached, or if the most aggressive tariffs are short lived. But it does look less likely that Feb 1st will pass with no tariff action and the exact approach may be instructive for how the new administration are going to approach the tariff question more broadly." But Reid thinks Trump has to "follow through" on some of his threats or "he will lose some negotiating power". The pound traded at USD1.2418 on Friday, down from USD1.2461 late Thursday. The euro fell to USD1.0378 from USD1.0423. Against the yen, the dollar rose to JPY154.68 from JPY154.37. Ahead of the US open, investors will assess the Federal Reserve's favoured inflation gauge, core personal consumption expenditures price index. JPMorgan predicts the core PCE deflator for December, rose 0.2% on month or 2.8% annually. In November, core PCE rose 0.1% on-month for an annual rate of 2.8%. The Federal Reserve's target for core PCE is 2.0%. Fed officials generally consider the core reading to be a better gauge of long-run inflation trends as it excludes the volatile gas and groceries category. On the FTSE 100, Smiths Group jumped 11% after it responded to an activist investor's call for change with plans for a break-up and increased share buy backs. London-based Smiths said it plans to sell its electronic connectors business by the end of 2025 and separate is threat detection arm, either by UK demerger or sale. This will leave the group focused on the John Crane and Flex-Tek businesses giving a focus on "high performance industrial technologies for efficient flow and heat management". Smiths said the proposals would "unlock significant value and enhance returns to shareholders." Analysts at Stifel were pleased. "This is a big, bold plan, finally breaking up the group's conglomerate structure. We think it should unlock material value." Earlier this month, US activist investor Engine Capital said Smiths should explore a split, according to a Financial Times report. Analysts at Citi noted Friday's proposals stop short of re-listing John Crane in the US, as recommended by the activist, but "we see the plan as significant". Retailer Next rose 2.6% after UBS upgraded to buy' from 'neutral and increased its share price target to 11,700 pence from 10,500p. "We believe Next is at an inflection point in terms of growth and valuation" with "a de-risked near term outlook", the broker said, adding it sees Next as a "safe haven". But J Sainsbury fell 1.6% after HSBC downgraded the grocer to 'hold' from 'buy' with a 285p share price target. A barrel of Brent declined to USD75.50 on Friday lunchtime, from USD77.18 at the time of the London equities close on Thursday. An ounce of gold rose to USD2,779.2 an ounce from USD2,793.57, although it eased from an all-time high posted on Thursday of more than USD2,500. Elsewhere in London, Tribal Group leapt 23%. The educational software and services provider expects to report a "positive trading performance" for 2024. Adjusted earnings before interest, tax, depreciation and amortisation, as well as revenue, are to be ahead of current market expectations. It puts revenue consensus at GBP85.6 million, with the market adjusted Ebitda forecast at GBP14.4 million. Still to come in Friday's global economic calendar, US personal consumption expenditures price index and employment cost index data at 1330 GMT. |
Posted at 31/1/2025 10:26 by master rsi LONDON BROKER RATINGS: Jefferies likes Volex; UBS raises NextFTSE 100 Deutsche Bank raises St James's Place price target to 1,150 (1,125) pence - 'buy' ---------- UBS raises St James's Place price target to 1,175 (1,005) pence - 'buy' ---------- RBC raises St James's Place price target to 925 (850) pence - 'sector perform' ---------- Jefferies raises St James's Place price target to 1,150 (820) pence - 'buy' ---------- Bank of America raises 3i Group price target to 4,200 (3,700) pence - 'buy' ---------- Deutsche Bank raises 3i Group price target to 4,410 (4,285) pence - 'buy' ---------- Goldman Sachs cuts Segro price target to 790 (870) pence - 'neutral' ---------- Barclays cuts Glencore price target to 485 (500) pence - 'overweight' ---------- Goldman Sachs cuts Glencore price target to 500 (540) pence - 'buy' ---------- UBS raises Shell price target to 3,150 (3,000) pence - 'buy' ---------- Berenberg cuts Endeavour Mining price target to 2,300 (2,400) pence - 'buy' ---------- Goldman Sachs raises Sage price target to 1,490 (1,450) pence - 'neutral' ---------- Jefferies raises Sage price target to 1,600 (1,500) pence - 'buy' ---------- JPMorgan cuts BT price target to 287 (290) pence - 'overweight' ---------- UBS raises Next to 'buy' (neutral) - price target 11,700 (10,500) pence ---------- HSBC cuts Sainsbury's to 'hold' - price target 285 pence FTSE 250 Deutsche Bank raises Pennon to 'hold' (sell) - price target 570 (490) pence ---------- RBC raises Dowlais price target to 100 (80) pence - 'outperform' ---------- Jefferies raises Balfour Beatty price target to 552 (518) pence - 'buy' ---------- JPMorgan raises Serco price target to 195 (185) pence - 'overweight' ---------- Barclays cuts Victrex price target to 1,520 (1,680) pence - 'overweight' ---------- Deutsche Bank raises Spirent price target to 250 (225) pence - 'buy' ---------- Bernstein cuts Wizz Air price target to 3,800 (4,000) pence - 'outperform' ---------- Barclays cuts Wizz Air price target to 1,000 (1,100) pence - 'underweight' ---------- JPMorgan cuts Wizz Air price target to 1,400 (1,600) pence - 'neutral' ---------- JPMorgan raises Ninety One price target to 149 (144) pence - 'underweight' SMALL CAP Jefferies starts Volex with 'buy' - price target 350 pence ---------- RBC cuts Alliance Pharma to 'sector perform' (outperform) - price target 6,250 (6,000) pence ---------- Deutsche Bank raises Rank Group price target to 127 (120) pence - 'buy' ---------- Deutsche Bank cuts Next 15 price target to 778 (890) pence - 'buy' ---------- Barclays cuts Tullow Oil price target to 50 (55) pence - 'overweight' ---------- JPMorgan cuts Tullow Oil price target to 40 (50) pence - 'overweight' |
Posted at 27/1/2025 22:23 by master rsi MARKET REPORTLONDON MARKET CLOSE: FTSE 100 steady but Deepseek sparks US tech rout (Alliance News) - London's blue-chips closed little changed on Monday amid a heavy sell-off in global technology stocks, including a 17% drop for chip maker Nvidia. The FTSE 100 index ended up just 1.36 points at 8,503.71. The FTSE 250 lost 148.55 points, 0.7%, at 20,369.50, and the AIM All-Share fell 3.66 points, 0.50%, at 711.39. The Cboe UK 100 ended up slightly at 852.40 on Monday, the Cboe UK 250 lost 0.5% at 17,811.79, and the Cboe Small Companies rose 0.2% to 16,018.60. In European equities on Monday, the CAC 40 in Paris ended down 0.3%, while the DAX 40 in Frankfurt fell 0.5%. In New York, the Dow Jones Industrial Average was down 0.2%, the S&P 500 1.9% lower, while the Nasdaq Composite was down 3.3%. Nvidia tumbled 17%, wiping around USD500 billion off its market value, while Broadcom slumped 16%, on concerns China's Deepseek's artificial intelligence app could threaten the dominance of the US tech giants. In Europe, ASML declined 7.0%. The Chinese firm's artificial intelligence chatbot soared to the top of the Apple Store's download charts over the weekend, stunning industry insiders and analysts with its ability to match its US competitors. "The Deepseek R1 large language model, which gained global attention last week, is triggering an existential crisis for US tech," observed Kathleen Brooks at XTB. "The focus is now on whether China can do it better, quicker and more cost effectively than the US, and if they could win the AI ‘race’." Brooks said the sharp decline in US AI stocks suggests that the ‘US dominance premium’ will be permanently removed from the US tech giants. "If China is catching up quickly to the US in the AI race, then the economics of AI will be turned on its head. It could also have a geopolitical impact since China could be the first superpower to gain super intelligence. Donald Trump’s reaction to today’s stock market sell off could also be a market-moving event." But Dan Ives at Wedbush Securities called it "another golden buying opportunity and not the time to panic." A handful of times over the last few years there have been major tech sell-offs that were golden buying opportunities....tod "At the end of the day there is only one chip company in the world launching autonomous, robotics, and broader AI use cases and that is Nvidia. Launching a competitive LLM model for consumer use cases is one thing.....launching broader AI infrastructure is a whole other ballgame and nothing with DeepSeek makes us believe anything different." The market weakness comes ahead of central bank meetings in the US, Canada and Europe this week. The Federal Reserve is expected to leave rates unchanged, while quarter point rate cuts are expected from the Bank of Canada and the European Central Bank. In the US, Barclays expects the Federal Open Market Committee to hold rates at 4.25% to 4.50%, starting a "potentially extended pause", and to provide little information about future changes, as it awaits more clarity about the economy's evolution. The bank's baseline case is that the FOMC will cut rates by 25 basis points this year, in June. The pound was quoted at USD1.2479 late Monday afternoon in London, down from USD1.2490 at the equities close on Friday. The euro stood lower at USD1.0505, against USD1.0510. Against the yen, the dollar was trading lower at JPY154.16 compared to JPY155.70. On the FTSE 100, BAT was the best performer, up 4.7%. UBS upgraded the Lucky Strike and Rothmans cigarettes owner to 'buy' from 'neutral' predicting Velo nicotine pouches will help accelerate new categories' sales growth. It also benefitted from the withdrawal of a proposed ban on menthol cigarettes and flavoured cigars by the Trump administration late on Friday. GSK climbed 3.4% after a prefilled syringe of Shingrix for the treatment of shingles was accepted for review by the European Medicines Agency. The European review of the prefilled syringe follows GSK's receipt of approval from the US Food & Drug Administration in January. Anglo American was the worst FTSE 100 performer, down 6.2%. One-time suitor BHP cooled its pursuit for now, the Financial Times reported. Citing people close to BHP, a takeover of London-based Anglo American would be too expensive for the Melbourne-headquarte Three people close to the situation are said to have noted that following the share price increase, a fresh takeover bid would be too expensive in the near term. BHP shares were down 0.5% in London. It was a generally tough day so far for mining shares. Glencore fell 3.7%, while Antofagasta lost 3.3%. China's manufacturing activity shrank in January for the first time in four months, official data showed Monday, as Beijing battles to sustain the recovery in the world's second-largest economy. The purchasing managers' index – a key measure of industrial output – came in at 49.1 in January, according to the National Bureau of Statistics, below the 50-point mark that separates growth and contraction. Brent oil was quoted lower at USD77.26 a barrel at the time of the equities close in London on Monday, down from USD77.35 on Friday. Gold dropped to USD2,740.66 an ounce against USD2,774.82. On the FTSE 250, Johnson Matthey rose 2.0% after announcing plans to boost its cash flow after a leading shareholder called for strategic change in December. Costain was another of the day's winners, leaping 11%. The construction and engineering firm expects annual profit in line with market expectations but said it had finished 2024 "strongly", hailing awards in the water and rail sectors. It also flagged a "high-quality forward work position" which stood at GBP5.4 billion at the conclusion of last year, up from GBP3.9 billion 12 months prior. Tuesday's global economic calendar sees US durable goods orders figures at 1330 GMT and a US consumer confidence print at 1500 GMT. Tuesday's local corporate calendar sees trading statements from Irn-Bru maker AG Barr, recruiter SThree and computer services provider, Computacenter. The global calendar has full-year results from aeroplane maker Boeing, luxury goods retailer LVMH, drugs firm Novo Nordisk and software retailer SAP. |
Posted at 27/1/2025 12:59 by master rsi MARKET REPORTLONDON MARKET MIDDAY: Europe falls and New York tech slumps (Alliance News) - London's FTSE 100 was weaker on Monday, with miners hurting the FTSE 100, while tech stocks are in focus in New York, as competition from China emerges. The FTSE 100 index traded down 27.06 points, 0.3%, at 8,475.29. The FTSE 250 was down 127.27 points, 0.6%, at 20,390.78, and the AIM All-Share was down 4.30 points, 0.6%, at 710.75. The Cboe UK 100 was 0.3% lower at 849.43, the Cboe UK 250 also shed 0.3% at 17,841.65, and the Cboe Small Companies was 0.1% lower at 15,964.61. In Frankfurt, the DAX 40 shed 1.1% in early trade, while the CAC 40 fell 0.8%. Sterling rose to USD1.2499 early Monday, from USD1.2490 at the time of the London equities close on Friday. The euro inched up to USD1.0513 from USD1.0510. Against the yen, the dollar slumped to JPY153.83 from JPY155.70. A barrel of Brent fetched USD77.35, flat from Friday. Gold faded to USD2,770.54 an ounce from USD2,774.82. Ahead of the New York open, developments in the tech sector are the major story. The Dow Jones Industrial Average is called down 0.9%, the S&P 500 down 2.5% and the Nasdaq Composite is called down by a hefty 4.4%. Among the sharpest falls in pre-market trade came for Broadcom, down 13%, Nvidia, 11% lower and AMD, down 6.2%. On this side of the Atlantic, Scottish Mortgage Investment Trust was down 5.4% at midday in London. It invests in a who's who tech names. Polar Capital Technology Trust and Allianz Technology Trust shed 7.1%. Chinese firm DeepSeek's artificial intelligence chatbot has soared to the top of the Apple Store's download charts, stunning industry insiders and analysts with its ability to match its US competitors. The programme has shaken up the tech industry and hit US technology stocks, which have spent vast sums of cash to get ahead in the fast-developing AI sector. Bannockburn Global Forex analyst Marc Chandler commented: "There have been two significant developments that are rocking US equities and sending US yields sharply lower. First, Chinese-made AI has taken the world by storm. Apparently, DeepSeek is cheaper to build, consumes less energy, and is faster than the other AIs. There seems to be innovations outside of replication. The second is a brouhaha over Colombia's initial refusal to accept US military planes bringing back illegal immigrants. There were tariff and counter-tariff threats before the Colombia appears to have capitulated." Colombia on Sunday backed down and agreed to accept deported citizens sent on US military aircraft, hours after President Trump threatened painful tariffs to punish the defiance to his mass deportation plans. Colombia's leftist president, Gustavo Petro, had earlier said he would only take back citizens "with dignity," such as on civilian planes, and had turned back two US military aircraft with repatriated Colombians. Trump, less than a week back in office, responded furiously and threatened sanctions of 25% that would quickly scale up to 50%. In London, Anglo American was the worst FTSE 100 performer, down 6.7%. One-time suitor BHP cooled its pursuit for now, the Financial Times reported. Citing people close to BHP, a takeover of London-based Anglo American would be too expensive for the Melbourne-headquarte Three people close to the situation are said to have noted that following the share price increase, a fresh takeover bid would be too expensive in the near term. BHP shares were down 0.4% in London. It was a generally tough day so far for mining shares. Glencore fell 2.9%, while Antofagasta lost 2.6%. China's manufacturing activity shrank in January for the first time in four months, official data showed Monday, as Beijing battles to sustain the recovery in the world's second-largest economy. The purchasing managers' index – a key measure of industrial output – came in at 49.1 in January, according to the National Bureau of Statistics, below the 50-point mark that separates growth and contraction. The reading was down from 50.1 in December, which was its third straight month in positive territory after ending a six-month decline in October. Good Energy jumped 21%. It said it has accepted a GBP99.4 million takeover from suitor Esyasoft, which sweetened its bid after an approach in October. The Chippenham, England-based renewable electricity supplier and energy services provider will be acquired by energy transition Esyasoft at 490 pence per share. It gives values Good Energy's issued and to be issued share capital at GBP99.4 million, and implies an enterprise value of GBP67.8 million. Construction and engineering firm Costain Group expects annual profit in line with market expectations. The firm said it finished 2024 "strongly", hailing pact awards in the water and rail sectors. Shares surged 10%. Its "high-quality forward work position" stood at GBP5.4 billion at the conclusion of last year, up from GBP3.9 billion 12 months prior. "This, together with growth on existing frameworks and attractive levels of bidding activity, gives the group increasing confidence in its ability to deliver further growth in operating profits and margins," Costain said. It puts market expectations for 2024 adjusted operating profit between GBP41.9 million and GBP43.3 million. At best, this would represent an 8.0% rise from GBP40.1 million in 2023. Interest rate decisions will be in focus as the week progresses. The Bank of Canada and Federal Reserve announce decisions on Wednesday, before the European Central Bank on Thursday. There is also gross domestic product data from the eurozone and US on Thursday. A host of tech names report earnings this week, also of focus. "As 'US exceptionalism' faces its sternest test of the year, the equity markets brace for a torrent of earnings reports from companies constituting nearly 40% of the S&P 500's market capitalization. Their outcomes could either amplify the recent bullish surge or instigate a reevaluation of market sentiments," SPI Asset Management analyst Stephen Innes commented. "In the backdrop of these high stakes, the unwavering beacon of Wall Street remains the robust earnings from Corporate America. Companies outperforming analysts' expectations are not just ticking up but rather leaping in stock valuations post-announcements&m |
Posted at 27/1/2025 09:09 by master rsi MARKET REPORTLONDON MARKET OPEN: Stocks down before US tech earnings, Fed and ECB (Alliance News) - European equities kicked off the new week in decline, as investors look ahead to a number of interest rate decisions and major tech earnings in the US. The FTSE 100 index opened down 35.39 points, 0.4%, at 8,467.81. The FTSE 250 was down 115.54 points, 0.6%, at 20,402.51, and the AIM All-Share was down 3.52 points, 0.5%, at 711.53. The Cboe UK 100 was 0.4% lower at 848.73, the Cboe UK 250 shed 0.6% at 17,808.99, and the Cboe Small Companies was a touch lower at 15,985.58. In Frankfurt, the DAX 40 shed 1.2% in early trade, while the CAC 40 fell 0.8%. Sterling faded to USD1.2446 early Monday, from USD1.2490 at the time of the London equities close on Friday. The euro fell to USD1.0472 from USD1.0510. Against the yen, the dollar slipped to JPY155.44 from JPY155.70. A barrel of Brent fetched USD77.36, flat from USD77.35. Gold faded to USD2,756.62 an ounce from USD2,774.82. In Asia, on Monday, the Shanghai Composite ended 0.1% lower. Markets in Shanghai are now closed for over a week for the Chinese New Year holiday period. The Hang Seng Index in Hong Kong was up 0.7% in late trade. Financial markets in Hong Kong have an abbreviated trading day on Tuesday, before being closed for the rest of the week. In Tokyo, the Nikkei 225 ended down 0.9% on Monday. Financial markets in Sydney are closed for Australia Day. In New York on Friday, the Dow Jones Industrial Average and S&P 500 lost 0.3%, while the Nasdaq Composite shed 0.5%. XTB analyst Kathleen Brooks commented: "This is the start of a new week, and new challenges face financial markets, and stock index futures have opened lower. Earnings reports and central bank meetings are centre stage. Added to this, Trump may have gone easy on tariffs so far; however, he threatened to slap a 25% tariff on goods imported from Colombia on Sunday after it declined entry to deported US migrants. This was ultimately resolved, with Trump getting his way and Colombia caving in, but it highlights how focused Trump is on using tariffs as a geopolitical threat in his second term as president. For now, Trump is tying tariff threats to US social issues like immigration. However, if he acts on his threat to impose tariffs on Europe due to its trade surplus with the US, then this would have a more chilling impact on financial markets." Decisions from the Federal Reserve and European Central Bank are on Wednesday and Thursday. The ECB is expected to enact a 25 basis point cut. The Fed is expected to stand pat. Brooks added: "All eyes will be on how Fed chair Jerome Powell will react to Donald Trump's call for the Fed to cut interest rates. With the Fed expected to remain on hold, they could find themselves in the middle of a political storm. The main event for financial markets is not just what the Fed does, it is also how Donald Trump reacts to it. "The markets are convinced that the ECB will cut, after the bank said in December that the risks to growth in the eurozone are to the downside, and we do not think that the small pick up in the January PMI data will derail prospects for a rate cut. As ever, the longer-term market reaction will depend on what the ECB says about future policy. Lagarde's press conference will be important to tell us about the pace of future rate cuts from the ECB. Currently there are a further 2.5 rate cuts priced in for 2025 after Thursday's cut." In London, BAT shares rose 4.1%. UBS raised the tobacco firm to 'buy' from 'neutral'. At the other end of the FTSE 100, Anglo American fell 6.2%, as one-time suitor BHP cooled its pursuit for now, the Financial Times reported. Citing people close to BHP, a takeover of London-based Anglo American would be too expensive for the Melbourne-headquarte Three people close to the situation are said to have noted that following the share price increase, a fresh takeover bid would be too expensive in the near term. BHP shares were down 1.0% in London. Mining stocks were also hurt by poor China data, which showed manufacturing activity declined. Glencore fell 3.0%. WH Smith added 6.1%. It is in talks to sell its high street arm. The Swindon, England-based retailer's high street operation is made up of about 500 stores, the first of which was opened 230 years ago. "WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale," a statement said. Over the past decade, the firm has focused on its more fruitful, travel retail business which operates from airports, train stations and hospitals. The high street business now accounts for only about 15% of annual group trading profit. Elsewhere on the M&A front, Good Energy jumped 20%. It said it has accepted a GBP99.4 million takeover from suitor Esyasoft, which sweetened its bid after an approach in October. The Chippenham, England-based renewable electricity supplier and energy services provider will be acquired by energy transition Esyasoft at 490 pence per share. It gives values Good Energy's issued and to be issued share capital at GBP99.4 million, and implies an enterprise value of GBP67.8 million. Over in New York, eyes this week will be on tech sector earnings, with Meta Platforms, Microsoft, Apple and Tesla all among those reporting. They represent four of 'Magnificent Seven' stocks, which also include Amazon, Alphabet and Nvidia. Swissquote analyst Ipek Ozkardeskaya commented: "In numbers, the Mag7 stocks eked out a 76% return in 2023 – the first year of the AI craze - but are expected to print an earnings increase of 34% in 2024, that is expected to slow down to 18% this year according to Bloomberg. And if you pull Nvidia out of this, the remaining magnificent companies are expected to print just 3% increase in their profits this year. That's not very exciting at the current valuations. There are two options for the valuations to normalize: either the earnings will go up or prices will come down. Many investors, this year, bet for the second option and expect that the tech rally will show cracks and give way to a rotation from Big Tech toward the more cyclical sectors of the US, and beyond the US." |
Posted at 24/1/2025 09:31 by master rsi Donald Trump calls on Opec to push down global oil pricesUS president tells World Economic Forum he will insist central banks lower interest rates ‘immediately&r Donald Trump has called on Opec to push down global oil prices and insisted that central banks around the world lower interest rates “immediately&r In a speech to executives in Davos on Thursday, the US president urged Saudi Arabia and other producers to lower the cost of crude oil, expressing dismay that they had not done so already. “I’m going to ask Saudi Arabia and Opec to bring down the cost of oil. You gotta bring it down. Which frankly I’m surprised they didn’t do before the election,” Trump said. “Right now the price is high enough that that war will continue,” he said, referring to Russia’s full-scale invasion of Ukraine and suggesting that the elevated oil price was helping to sustain Vladimir Putin’s war machine. “You gotta bring down the oil price, that will end that war. You could end that war,” he added. Trump said that with the crude price lowered, he would “demand that interest rates drop immediately. And likewise, they should be dropping all over the world. Interest rates should follow us.” The US president’s appearance via video at the World Economic Forum marked his first address to a global audience since his inauguration earlier this week. He used the speech to insist that companies around the world manufacture their products in the US — or face sweeping tariffs on imported goods entering the American market. Trump touted his economic agenda of radical deregulation and his plan to implement the “largest tax cut in American history”, calling it “nothing less than a revolution of common sense”. His comments on the oil price came after he spoke to Saudi Crown Prince Mohammed bin Salman on Wednesday. During the conversation, Bin Salman pledged to invest as much as $600bn in the US over the next four years. But on Thursday, Trump said he would be asking “the Crown Prince, who’s a fantastic guy, to round it out to around $1tn”. The price of Brent crude fell by 1 per cent following Trump’s comments, to just over $78 a barrel. A prolonged drop in oil prices could compromise Riyadh’s ability to fund more investment in the US and would make it more difficult for American drillers to increase crude supply as quickly as Trump wants. The US president also touted the merits of “good, clean, coal” to power data centres needed for artificial intelligence. “We need double the energy we currently have in the US, for AI to be as big as we want to have it,” Trump said, adding that he would use emergency decrees to speed the construction of new power plants. “Nothing can destroy coal — not the weather, not a bomb, nothing,” he said. The share price of Peabody, the largest US coal company, jumped 4 per cent on the remarks. Trump also spoke positively about his relationship with Chinese President Xi Jinping, blaming his predecessor Joe Biden for the strained ties between Washington and Beijing and expressing hope that China could help end the war in Ukraine. Recommended International tax Donald Trump threatens to double tax rates for foreign nationals and companies “All we want is fairness,” Trump said, adding that he was seeking a level playing field with China. As things stood, the relationship was “unfair” he added. Trump also lashed out at the EU, describing fines levelled by Brussels against US tech companies for breaching competition rules as a “form of taxation”. “They are American companies and they should not be doing that as far as I am concerned,” Trump said. “It is a form of taxation. We have some very big complaints with the EU.” On Tuesday, the FT reported that Trump had threatened to double tax rates for foreign nationals and companies in the US to hit back at “discriminator |
Posted at 23/1/2025 23:16 by master rsi TRADING UPDATES: Kooth eyes top-end profit, while IQE sees sales beatKooth PLC - London-based provider of digital youth mental health care - Says 2024 revenue is anticipated to be in line with consensus market expectations of GBP65.8 million in the financial year ending December, nearly double GBP33.3 million in 2023. Adjusted earnings before interest, tax, depreciation and amortisation is expected to be at or ahead of the top of the range of analyst forecasts of GBP12.7 million, ballooning from GBP2.3 million a year prior. Cash position improves to GBP21.5 million in 2024 from GBP11.0 million at the end of 2023. Further, says Chief Executive Tim Barker is to step down after the 2025 Annual General Meeting, likely in June. Kate Newhouse will succeed Barker as CEO at that point. Newhouse joined Kooth as chief operating officer in May 2020 having previously been CEO of Blenheim Chalcot and Doctor Care Anywhere. ---------- IQE PLC - Cardiff-based supplier of compound semiconductor wafer products and advanced material solutions - Expects revenue of GBP118 million in the year ending December and adjusted earnings before interest, tax, depreciation and amortisation to be at least GBP7.5 million, exceeding expectations of GBP115 million and GBP5 million respectively. Explains the strategic review continues, focused on its Taiwan operations at this stage. In addition, says it is in the "final stages" of concluding its proposed convertible loan note and that it has received strong support from shareholders. "The proposed financing will provide IQE with greater resilience as we continue to strengthen key customer relationships and expand further into emerging high growth areas," Executive Chair Mark Cubitt states. ---------- Eight Capital Partners PLC - technology focused operating company - Announces proposed capital reorganisation by way of a share consolidation, and the conversion of the remaining 4.8% bond into equity. Plans to consolidate every 4,000 existing ordinary shares into one ordinary share. Says the indicative new share price is 112 pence per share. In addition, agrees to convert a total of EUR1.08 million 4.8% bonds due September 3 2026 into 810,325 ordinary shares at the indicated post-capital reorganisation share price of 112p each. As a result, the company will have no further bonds outstanding. The bond conversion will reduce outstanding debt by around GBP0.91 million, strengthening the balance sheet and allowing greater financial flexibility to support planned future growth initiatives. ---------- Kefi Gold and Copper PLC - mining company focused on the Arabian-Nubian shield - Says that its gold and minerals SLA joint venture, GMCO, in Saudi Arabia, has been selected as one of six companies out of 49 applicants for the Saudi Government's Exploration Enablement Program. This also coincides with Kefi's recently announced strategic review of its investment in GMCO. Kefi says it has received interest from a number of parties interested in buying its 15% stake in GMCO. Kefi sets a deadline of February 28 for the submission of proposals with indicative terms. Kefi notes the Saudi government has committed USD182.6 million to the EEP for the period 2024 to 2030. ---------- Helix Exploration PLC - London-based helium exploration company focused on gas deposits in Montana, US - Raises GBP5 million via placing and subscription at 15 pence per share. Proceeds will be used to install and equip PSA processing plant and membrane unit at Rudyard and fund the drilling of two additional production wells at Rudyard. Additional net proceeds will fund other exploration and resource definition work across projects and general working capital requirements. ---------- Fintech Asia Ltd - investment company established to acquire businesses focused on improving the delivery and use of financial services in Asia - Proposes name change to ICFG Ltd on completion of the planned reverse takeover of ICFG. The acquisition is to be satisfied by the issue of 177.8 million shares to ICFG shareholders at 64 pence per share. Ankhbold Bayanmunkh and Hirohito Namiki, current shareholders of ICFG, will be appointed executive chair and executive director of the enlarged group and Amar Lkhagvasuren, will be appointed as a non-executive director. Fintech Asia Chief Executive Oliver Fox comments: "We believe that the acquisition of ICFG provides a compelling value opportunity for the company, with strong potential from ICFG's focus on the microfinance sector employing advanced information technology solutions to offer competitive advantage and a scalable business model." Adds: "I believe that ICFG is a very exciting business that can deliver significant value for shareholders, existing and new." ---------- Pri0r1ty Intelligence Group PLC - artificial intelligence company transforming professional growth services for SMEs - Enters strategic partnership with Funding Circle to propel future growth in commercial lending. This allows Pri0r1ty customers to access loans of up to GBP750,000 "within minutes". Chief Executive James Sheehan says: "We believe this partnership is just the beginning of a series of strategic initiatives that will drive our future growth." |
Posted at 17/1/2025 22:32 by master rsi Broker tips: Dunelm, Taylor Wimpey, Everyman Media(Sharecast News) - Berenberg has reiterated its 'buy' rating for homeware retailer Dunelm despite a cool reaction to the company's trading update this week, saying it still sees the stock as a defensive investment. Dunelm's share price dropped 6% on Thursday after the retailer revealed that sales grew by just 1.6% year-on-year over the second quarter, well below the 5% expected by the market despite "relatively easy" a prior-year comparative of 1%, Berenberg said. "The company faced particularly volatile trading conditions, not just week-to-week, but intraweek, which likely reflected nervousness about the economy and employment prospects among consumers," the broker said. However, Berenberg said there was "pleasingly little damage to estimates", with the company remaining comfortable with existing pre-tax profit consensus forecast range of £208m-218m for the full year. "We continue to like this relatively defensive retailer, which can drive sales through attractive prices and product, and pursue growth via new space and online, while maintaining strong margins, ROIC, FCF and an attractive dividend," the broker said. Shares trade at just 13 times current-year earnings, which the broker said "looks undemanding [...] for the combination of quality, defence and ongoing moderate growth potential". RBC Capital Markets downgraded its target price on Taylor Wimpey to 155p from 175p but maintained its 'outperform' rating on the stock after its latest trading statement. On Thursday, the housebuilder backed its profit expectations for the full year but sounded a note of caution as it pointed to increased build costs in 2025. It warned that while price negotiations for 2025 are ongoing, it expects increased build cost pressure as a result of the changed economic backdrop, as suppliers look to factor in the impacts of the recent Budget. In a note written after the update on Thursday, RBC said: "We have been surprised by the significant change in tone of Taylor Wimpey's commentary since their last trading update in November 2024. "In November their glass was very much half full, it was lean, agile and firing on all cylinders. Today, the glass looks half empty, Taylor Wimpey appears, like many of us, to have put on a bit of weight over Christmas and caught a January cold. "Whereas other housebuilders this week have been firmly on the front foot, Taylor Wimpey seemed to have lost its November mojo and be more comfortable on its back foot." RBC said the housebuilder was so downbeat "it couldn't see the bulls for the bears" and noted that the company's outlook assumed no underlying house price inflation, no wage growth, no improvement in mortgage rates, no land sales, and no significant pick-up in housing transactions. "The implication: costs up, prices (at best) flat, therefore margins will go down," it said. "Despite its efforts to turn us against, we still see reasons to be cheerful. We believe that our 30%-below consensus dividend per share of 7p has very, very firm foundations and offers an attractive yield of more than 6%." Analysts at Canaccord Genuity lowered their target price on cinema operator Everyman Media Group from 180.0p to 160.0p on Friday following the group's profit warning earlier in the morning. Canaccord Genuity said while Everyman's FY financial outcome was not as expected, the group had made further strategic and operational progress across the year, increasing market share to 5.4% from 4.8% and opening three new sites. Looking ahead, with no further impact from the WGA and SAG-AFTRA strikes, Everyman has confidence in the film slate for 2025, which was also expected to be distributed across the year. "We have updated forecasts to reflect the FY24 outcome and have also adjusted our outer year expectations to reflect the lower base but also a more cautious stance on spend given the macro backdrop," said the Canadian bank. "Whilst performance across the final quarter of FY24 did not transpire as hoped, we continue to believe that the Everyman brand remains well positioned for future success as film production continues to normalise with plenty of further UK expansion potential for the group's elevated and differentiated brand offer." |
Posted at 13/1/2025 15:04 by master rsi Science Group set for another record adjusted operating profit(Sharecast News) - Science Group said in an update on Monday that trading for the year ended 31 December was expected to deliver another record year of adjusted operating profit, in line with or slightly exceeding board expectations. The AIM-traded firm said it expected to publish its audited full-year results in late March or early April. It reported gross cash of £38.6m and net funds of £26.8m as of the end of 2024. That followed £8.6m returned to shareholders during the year, through share buybacks of £4.96m and an increased dividend of £3.66m. Science Group said it had also initiated early refinancing of its term loan and revolving credit facility, both of which expire in 2026, with legal documentation for the renewed and expanded facilities progressing as planned. Acknowledging a disconnect between its consistent operating performance and stock market valuation, the board highlighted that Science Group's share price had outperformed major UK and US indices for small and mid-cap companies over the past one, three, five and 10 years. Despite that relative strength, the firm said it was planning to increase its capital allocation for the 2025 share buyback programme to between £6m and £10m. That, the directors said, could result in a reduction of total voting rights by between 3% and 5%, based on current share prices. The buyback programme, executed by Panmure Liberum under board-defined parameters, would be adjusted at the next trading window following the release of the 2024 results. |
Posted at 13/1/2025 12:58 by master rsi MARKET REPORTLONDON MARKET MIDDAY: Stocks stay red as UK inflation data nears (Alliance News) - Stock prices in London were lower midday on Monday, as pressure increases on UK Chancellor Rachel Reeves. A survey of UK chief financial officers by consultancy Deloitte found a net 26% felt more pessimistic about their businesses than they did three months ago. However, sentiment is still well above the lows seen during the Covid-19 pandemic and in 2022 during Liz Truss's brief premiership. Also, Reeves returned from her trip to China as concerns swirled that the government is in danger of failing to meet its own fiscal rules and will need to take action to remain on track. Reeves however insisted over the weekend that those fiscal rules are "non-negotiable". "Gilt yields continued to creep higher as the market fretted about Rachel Reeves’ spending plans and borrowing requirements," commented AJ Bell's Russ Mould, who added: "The higher the yields go, the higher the cost of borrowing for the government and the greater the likelihood that we’ll see spending cuts to public services. "The number of stocks falling on the FTSE 100 outnumbered the risers two-to-one as investors reassessed their portfolios. Technology, industrials, healthcare and consumer stocks were firmly out of favour, while commodities, utilities and real estate shone. Those movements are what you might expect when investors believe inflationary pressures are going to intensify." Those investors' eyes will therefore be on Wednesday, when UK consumer and producer price inflation data are scheduled for release. The FTSE 100 index was down 33.52 points, 0.4%, at 8,214.97. The FTSE 250 was down 44.20 points, 0.2%, at 19,689.74, and the AIM All-Share was down 1.91 points, 0.3%, at 711.47. The Cboe UK 100 was down 0.4% at 823.46, the Cboe UK 250 was down 0.4% at 17,121.59, and the Cboe Small Companies was up 0.3% at 15,320.91. In large caps, Entain gained 2.5%, down from an early-morning high of 682.40 pence each. The Isle of Man-based bookmaker said loss before interest, tax, depreciation and amortisation is expected to be around USD250 million at the BetMGM business for financial 2024. However, Entain expects group Ebitda to be "at the top" of the GBP1.04 billion to GBP1.09 billion guidance range, owing to "operator friendly" results in the fourth quarter. "Rather than deliver the bad news investors had expected, Entain...took the market by surprise and triggered a surge in the share price," Mould said. However, he added: "Entain might have scored the winning goal in recent months, but its share price has more than halved since 2021 which implies something drastic needs to be done to revive its fortunes and win back the market’s favour. Today’s trading update is a good start, but the market will need more good news rather than a stroke of luck." On the FTSE 250, Serco lost 1.9%. The Hampshire, England-based provider of services to governments has promoted Anthony Kirby to chief executive, starting on March 1 and replacing Mark Irwin. Kirby is currently CEO of Serco's largest division, UK & Europe, while Irwin has been with Serco for 12 years - although Mould noted that he served "only two years in the [CEO] job". "His predecessor Rupert Soames did a brilliant job turning around the company and Irwin kept things ticking over, but to leave after such a short time seems odd," Mould said, adding: "It will be interesting to see the scale of Kirby’s ambitions and whether he has bold plans to take Serco to the next level." Among smaller caps, Eagle Eye Solutions plummeted 23%. The London-based software-as-a-servic However, it also said group revenue increased by 0.4% on-year in its first half to GBP24.2 million, with SaaS revenue growing 10% to GBP19.5 million, although Professional Services revenue was down 16% to GBP4.4 million from GBP5.2 million. Blue Star Capital soared 74%. The Crawley, England-based investing company, which is focused on the esports and blockchain industries, reports that SatoshiPay Co-Founder Meinhard Benn - through Pinnow, Germany-based Flakenwerder Investment UG - holds an 8.34% stake in Blue Star as of Wednesday, January 8, up from none reported. In European equities on Monday, the CAC 40 in Paris was down 0.9%, while the DAX 40 in Frankfurt was down 0.8%. The pound was quoted lower at USD1.2133 at midday on Monday in London, compared to USD1.2200 at the equities close on Friday. Sterling last week hit its lowest level against the dollar since November 2023, with government borrowing costs rising ever higher. UK government bonds – also known as gilts – continued to see 10-year yields hit fresh highs not seen since 2008, up six basis points at 4.9%. The yield on 30-year gilts also hit new 27-year highs, up five basis points at 5.5%. The euro stood at USD1.0198, down against USD1.0233. Against the yen, the dollar was trading lower at JPY157.27 compared to JPY157.81. Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.4%, the S&P 500 index down 0.8%, and the Nasdaq Composite down 1.2%. Brent oil was quoted higher at USD80.52 a barrel at midday in London on Monday from USD78.61 late Friday. Gold was quoted lower at USD2,678.91 an ounce against USD2,690.05. Still to come on Monday's economic calendar are the consumer inflation forecast and the monthly budget statement from the US. |
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