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UPS Upstream

1.625

0.00 (0.00%)

13 Jun 2025 - Closed

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Upstream Investors - UPS

Share Name	Share Symbol	Market	Stock Type
Upstream	UPS	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	1.625	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			1.625	1.625

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Posted at 05/6/2025 12:58 by master rsi MARKET REPORT London midday: Stocks tick higher as investors eye ECB (Sharecast News) - London stocks had edged higher by midday on Thursday as investors eyed an expected rate cut by the European Central Bank. The FTSE 100 was up 0.3% at 8,827.28. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "UK markets are in a holding pattern, with the FTSE 100 patiently waiting for a fresh catalyst to deliver the final push toward new all-time highs. The UK-US trade deal appears to be doing enough to insulate UK markets from excessive Trump-related volatility, though it remains to be seen how long this relative calm will last. "It was also an uneventful opening bell for broader European markets this morning, as investors are all but certain the European Central Bank will cut rates later today down to 2%. Hopes for easing grew after Eurozone inflation dipped to 1.9% in May, just below the ECB's target. More cuts are on the cards too, with interest rates expected to fall to 1.5% by the end of the year - low enough to start actively supporting the economy." On home shores, a survey revealed that the construction sector showed signs of easing in May. The latest S&P Global UK construction purchasing managers' index was 47.9 in May, still in negative territory but up from April's 46.6 and the slowest pace of contraction since January. It was also ahead of consensus expectations for a reading of 47.2. A reading below the neutral 50.0 benchmark indicates contraction, while one above it suggests growth. The British construction sector has been hit by weakening demand amid uncertain economic conditions as well as higher costs. Jobs were shed across the sector at the sharpest rate since August in May. House building remained the weakest sector in May, at 45.1, while civil engineering came in at 45.9. Commercial work fell only marginally, however, to 49.5. However, business activity expectations edged, on hopes that interest rates will continue to come down. Tim Moore, economics director at S&P Global Market Intelligence, said: "The construction sector continued to adjust to weaker order books in May, which led to sustained reductions in output, staff hiring and purchasing. "However, the worst phase of spending cutbacks may have passed as total new work fell at a much slower pace than the near five-year record in February. "Output growth expectations recovered to the highest so far in 2025. Respondents most cited a general improvement in sales projections as well as a potential tailed from failing interest rates." In equity markets, bootmaker Dr Martens surged after saying it expects 2026 to be in line with guidance and that it would cut discounts in the Americas and EMEA regions under a turnaround plan led by new boss Ije Nwokorie. It added that prices would remain unchanged despite the impact of US tariffs as all of its spring/summer stock was in the market, and by the start of July most autumn/winter ranges would have arrived or be in transit. Russ Mould, investment director at AJ Bell, said: "Dr Martens is on the front foot with a strategy that seeks to kick out the troubles of old and return the business to profitable growth. This should shift the market's focus from earlier problems in the US and a sharp drop in earnings to a business intent on regaining its power. "Having a plan is a good start, but the proof will be in the execution. It has laid out ambitions to get back on top. Turning those dreams into reality might not be easy. "Fundamentally, it's all down to marketing and product innovation. Dr Martens needs to convince the consumer they need its products - get that right, and it could reclaim its crown in the footwear market. The brand still has considerable strength, the business just needs to be more creative at the front end and agile at the back end." Empiric Student Property shot higher as it confirmed it has received a takeover proposal from Unite which values each of its shares at 107p and that it has agreed to enter an initial period of due diligence. Fintech giant Wise rallied as it announced its intention to shift its primary listing from the UK to the US, saying the move would help accelerate growth and bring "substantial" strategic benefits to the business and its shareholders. The news came as the cross-border payments firm delivered a 17% increase in underlying pre-tax profits to £282m, with revenues rising 15% to £1.21bn. On the downside, WPP, Sainsbury's and Vodafone were all weaker as they traded without entitlement to the dividend. Shares in Wizz Air nosedived as operating profits came in lower than expected, with the budget carrier blaming plane groundings due to a long-running engine issue which hit capacity along with higher costs. Operating profit slumped 61% to €167.5m for the year to March, well below the €246m expected by analysts. Outsourcer Mitie was sharply lower after agreeing to buy AIM-listed Marlowe in a £366m deal. CMC Markets was also down after annual earnings at the online trading platform missed expectations. Market Movers FTSE 100 (UKX) 8,827.28 0.30% FTSE 250 (MCX) 21,086.52 -0.15% techMARK (TASX) 4,918.24 0.31% FTSE 100 - Risers Fresnillo (FRES) 1,309.00p 3.72% Smith & Nephew (SN.) 1,113.50p 2.86% Antofagasta (ANTO) 1,900.50p 2.73% Convatec Group (CTEC) 298.80p 2.12% Anglo American (AAL) 2,276.50p 1.93% Ashtead Group (AHT) 4,342.00p 1.40% Reckitt Benckiser Group (RKT) 5,104.00p 1.39% Experian (EXPN) 3,773.00p 1.37% Mondi (MNDI) 1,212.50p 1.25% Hiscox Limited (DI) (HSX) 1,325.00p 1.15% FTSE 100 - Fallers Sainsbury (J) (SBRY) 274.80p -3.31% WPP (WPP) 563.60p -3.06% Vodafone Group (VOD) 73.56p -3.06% easyJet (EZJ) 574.40p -1.85% Whitbread (WTB) 2,839.00p -1.73% Marks & Spencer Group (MKS) 360.40p -1.72% Pershing Square Holdings Ltd NPV (PSH) 3,876.00p -1.62% Rolls-Royce Holdings (RR.) 879.20p -1.35% NATWEST GROUP (NWG) 523.80p -1.13% International Consolidated Airlines Group SA (CDI) (IAG) 331.60p -1.10% FTSE 250 - Risers Dr. Martens (DOCS) 71.20p 18.77% Empiric Student Property (ESP) 102.40p 5.24% Hochschild Mining (HOC) 298.60p 4.48% Kainos Group (KNOS) 760.50p 4.04% Playtech (PTEC) 318.50p 3.58% Hammerson (HMSO) 286.80p 3.39% W.A.G Payment Solutions (WPS) 75.00p 3.02% Coats Group (COA) 78.30p 2.22% Burberry Group (BRBY) 1,116.50p 2.20% Abrdn (ABDN) 178.50p 2.18% FTSE 250 - Fallers Wizz Air Holdings (WIZZ) 1,208.00p -27.84% Mitie Group (MTO) 140.20p -12.16% CMC Markets (CMCX) 250.50p -11.95% Discoverie Group (DSCV) 667.00p -8.88% THG (THG) 23.92p -5.53% Pets at Home Group (PETS) 262.00p -4.10% TBC Bank Group (TBCG) 4,375.00p -3.42% Paragon Banking Group (PAG) 880.00p -3.19% Energean (ENOG) 879.50p -2.66% Greggs (GRG) 2,004.00p -2.62% Read Full Thread Reply
Posted at 04/6/2025 12:41 by master rsi MARKET REPORT LONDON MARKET MIDDAY: Stocks higher as US, China tensions continue (Alliance News) - Stock prices in London were higher at midday on Wednesday, amid hopes that a potential meeting between Donald Trump and Xi Jinping his week can reduce trade policy tensions. However, the US president early on Wednesday said Xi is "VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!" on his Truth Social platform. His latest remarks came hours after his tolls on aluminium and steel were doubled from 25% to 50%, although the UK has for now been exempted from that increase. "All eyes are on China given it is currently the biggest loser from Trump's new trade policy, and it looks like we're still some way off from a deal between the two countries...A potential stalemate situation means uncertainty prevails on the markets and asset prices remain volatile," AJ Bell's Russ Mould commented. The FTSE 100 index was up 19.49 points, 0.2%, at 8,806.51. The FTSE 250 was up 80.68 points, 0.4%, at 21,098.46, and the AIM All-Share was up 1.93 points, 0.3%, at 755.44. The Cboe UK 100 was up 0.2% at 876.52, the Cboe UK 250 was up 0.4% at 18,615.97, and the Cboe Small Companies was up 0.2% at 16,685.31. "Markets remain in a holding pattern pending an update on trade negotiations between the Trump administration and various foreign governments," Mould said, noting that "strength in basic materials, industrials and real estate was offset by weakness in energy and consumer cyclicals" on the FTSE 100. Large-cap winners included Antofagasta, up 2.7%; Melrose Industrial, up 2.8%; and Spirax, up 2.5%. Haleon led the laggers, down 1.8%, while Marks & Spencer lost 1.8%. On the FTSE 250, WH Smith climbed 3.7%. The Swindon, England-based retail chain reported growth across all markets of its travel business during the third-quarter, ahead of the disposal of its high street division. This included total travel revenue growing 5% year-on-year, and 7% on a constant currency basis. Like-for-like sales were up 5% on-year. WH Smith added that it is on track to deliver full-year revenue in line with expectations. Mould said the new update "presents a picture of what the slimmed-down company looks like going forward". "It's a starting point for investors to better understand the shape and potential of the business, and to get a feel for growth rates over the long term from what is essentially now a travel-hub company with a few shops in hospitals on the side," he commented. "With that in mind, there is a sense that investors might be expecting more from WH Smith than it is currently delivering...Overall, WH Smith needs to step up a gear and prove it was worth flogging the cash cow that was the UK arm." B&M European Value Retail lost 8.6%. The Luxembourg-based retailer said pretax profit fell 13% to GBP431 million in the year ended March 29. Revenue rose 1.6% to GBP5.57 billion from GBP5.48 billion, or by 3.7% on a comparable 52-week basis, primarily driven by the contribution from new stores and positive like-for-like performance in France. However, Mould commented: "The discount retailer blamed challenging market conditions [for its "poor year"], yet its value-led business model should have thrived in a period where consumers were watching their pennies...The imminent arrival of a new CEO cannot come soon enough. "Investors will be looking for the new boss to do a thorough review of the business, work out what's gone wrong, do a 'kitchen sink' job and outline a plan to get back on top...The lack of commentary on current trading is unhelpful, leaving investors guessing as to whether the recent sunny weather has driven an improvement in footfall and sales. However, it does allude to ongoing cost pressures, meaning the company needs to make hay while the sun shines." On AIM, Shuka Minerals jumped 71%. The Africa-focused mine operator and developer has received interim authorisation for its proposed takeover of Leopard Exploration & Mining, which owns the Kabwe zinc mine in central Zambia. At the other end, 4Global lost 44%. The sporting events-focused data provider intends to delist from AIM and re-register as a private limited company, saying its fundraising efforts "have not been realised". Also, for the financial year ended March 31, 4Global said it expects revenue of GBP4.5 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP500,000, down from GBP6.4 million and GBP1.6 million respectively. In European equities on Wednesday, the CAC 40 in Paris was up 0.7%, while the DAX 40 in Frankfurt was up 0.6%. The pound was quoted higher at USD1.3520 at midday on Wednesday in London, compared to USD1.3499 at the equities close on Tuesday. The euro stood lower at USD1.1375, against USD1.1385. Against the yen, the dollar was trading at JPY144.22, higher compared to JPY143.24. Stocks in New York were called higher. The Dow Jones Industrial Average was called up 0.1%, the S&P 500 index up 0.1%, and the Nasdaq Composite up 0.1%. The yield on the US 10-year Treasury was quoted at 4.45%, narrowing from 4.46%. The yield on the US 30-year Treasury was unchanged at 4.97%. Brent oil was quoted lower at USD65.60 a barrel at midday in London on Wednesday from USD65.73 late Tuesday. Gold was quoted higher at USD3,354.10 an ounce against USD3,349.93. Still to come on Wednesday's economic calendar, the US has the composite and ISM services PMI readings. Also, the Bank of Canada releases its interest rate decision. Read Full Thread Reply
Posted at 03/6/2025 12:39 by master rsi MARKET REPORT LONDON MARKET MIDDAY: Eurozone inflation falls below ECB target (Alliance News) - Stock prices in London were mostly slightly higher at midday on Tuesday, while the Organisation for Economic Co-operation & Development has slashed its annual global growth forecast due to trade disputes. After 3.3% growth last year, the world economy is now expected to expand by a "modest" 2.9% in 2025 and 2026, the Paris-based OECD said. In the UK, the economy is expected to grow by 1.3% this year, with the OECD cutting its previous forecast of 1.4%. "The global outlook is becoming increasingly challenging," the economic policy group explained. It said "substantial increases" in trade barriers, tighter financial conditions, weaker business and consumer confidence, and heightened policy uncertainty will all have "marked adverse effects on growth" if they persist. The FTSE 100 index was up 0.69 points at 8,774.95. The FTSE 250 was up 2.54 points at 21,031.51, and the AIM All-Share was up 1.89 points, 0.3%, at 750.02. The Cboe UK 100 was down 0.1% at 873.40, the Cboe UK 250 was down 0.1% at 18,546.10, and the Cboe Small Companies was up less than 0.1% at 16,656.11. On the FTSE 100, British American Tobacco was up 0.6%. This was despite the London-based cigarette and nicotine product maker raising its revenue guidance for 2025 following a better-than-expected first-half performance. "On the face of it, British American Tobacco's trading update contains the type of information that investors might celebrate," AJ Bell's Russ Mould explained. "A problem area (the US) looks to be improving, revenue is ahead of guidance, and it continues to generate lots of cash. "Unfortunately for investors, so much good news has already been priced into the shares that the update failed to move the dial...It's notable that profit is not ahead of guidance, despite revenue beating forecasts. That's down to unfavourable foreign exchange rates. "When you factor in these negatives, it means British American Tobacco is still plodding along as expected, but there is nothing to shoot the lights out in the statement." On the FTSE 250, Pennon lost 2.7%. The Exeter-based water utility cut its annual dividend by 14% to 31.57 pence, after posting a widened GBP72.7 million pretax loss for the year to March 31. This was despite a 16% rise in revenue to GBP1.05 billion. The company said it expects to return to profitability in the current financial year through increased revenue and a reset of its cost base. Among smaller companies, Dalata Hotel Group jumped 11% after a consortium formed by Pandox and Eiendomsspar said it had submitted an acquisition proposal. The proposal is for EUR6.05 per Dalata share, valuing the Dublin-based hotel operator at around EUR1.3 billion. This represents an estimated premium of 27% to Dalata's closing price of EUR4.76 per share on March 5. "The big unknown is whether their proposed bid is enough to seal the deal and whether another party makes a higher offer," Mould said. "The consortium's 27.1% bid premium is below the 36% average on UK-listed takeovers so far this year, according to analysis by AJ Bell. "That leaves scope for someone else to come along and offer slightly more." In European equities on Tuesday, the CAC 40 in Paris was down 0.3%, while the DAX 40 in Frankfurt was up 0.1%. "European equity markets struggled to find direction early on Tuesday, with investors still showing signs of nervousness around tariffs and the economic outlook," commented AJ Bell's Mould, citing the OECD's outlook downgrade. "It's only a small revision – from 3.1% to 2.9% for 2025 – but it's still enough to cause investors some indigestion as they consume their morning news. "The downgrade weighed on the mining sector as the market fears it could mean reduced demand for commodities, and therefore a potential knock to the price of metals and minerals." On London's FTSE 100, for example, Antofagasta was down 2.2% while Rio Tinto lost 1.8% and Glencore lost 1.7%. He continued: "The 90-day pause on tariffs has just over a month before expiration, meaning the pressure is on countries to do deals with the Trump administration. Reports suggest that Trump wants best offers on trade negotiations by Wednesday, perhaps to avoid any last-minute rush or stalemate situations." Meanwhile in the eurozone, annual consumer price inflation is estimated to have been 1.9% in May (down from 2.2% in April), according to a flash estimate from Eurostat. The deceleration, mainly driven by slower growth in services prices and ongoing energy deflation, came below the 2.0% FXStreet-cited market consensus. It also put inflation below the European Central Bank's 2% target for the first time since September. The flash reading comes ahead of the European Central Bank's interest rate decision on Thursday, with markets widely expecting a 25 basis point cut. The pound was quoted at USD1.3516 at midday on Tuesday in London, lower compared to USD1.3546 at the equities close on Monday. The euro stood at USD1.1411, lower against USD1.1429. Against the yen, the dollar was trading higher at JPY142.91 compared to JPY142.75. Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.4%, the S&P 500 index down 0.4%, and the Nasdaq Composite down 0.3%. The US economy is now expected to grow by just 1.6% this year, down from 2.2% in the previous outlook, and slow further to 1.5% in 2026, the OECD said. "This reflects the substantial increase in the effective tariff rate on imports and retaliation from some trading partners," it explained. The yield on the US 10-year Treasury was quoted at 4.42%, narrowing from 4.46%. The yield on the US 30-year Treasury was quoted at 4.95%, narrowing from 5.00%. Germany's languishing economy meanwhile is likely to see growth of 0.4% this year, the OECD said. Brent oil was quoted higher at USD64.75 a barrel at midday in London on Tuesday from USD64.58 late Monday. Gold was quoted lower at USD3,358.33 an ounce against USD3,371.47. DHF Capital's Bas Kooijman said gold traders were "[locking] in their profits following the metal's strongest daily gain in nearly a month, as markets reacted to recent geopolitical and trade developments. "Despite the pullback, the precious metal held close to four-week highs, underpinned by lingering uncertainty across global markets." Kooijman continued: "Geopolitical tensions add to the appetite for gold and could support a return to the upside." He noted that "In the Middle East, rising tensions could continue to fuel safe-haven demand...Persistent concerns over fiscal imbalances and expectations for Fed rate cuts later this year should continue to lend underlying support to gold." Still to come on Tuesday's economic calendar, the US has factory orders, total vehicle sales and the Redbook index. Also, there will be comments from US Fed Governor Lisa Cook. Read Full Thread Reply
Posted at 02/6/2025 08:33 by master rsi GGP 14.35p ( 14.20 v 14.50p ) - Offer ( but no price yet ) Eligibility for the RetailBook Offer The RetailBook Offer is available to new and existing shareholders of Greatland Gold plc in the United Kingdom. To be eligible to participate in the RetailBook Offer, applicants must be a customer of a participating partner. Eligible investors wishing to subscribe for new Ordinary Shares should contact their investment platform, retail broker or wealth manager to confirm if they are participating in the RetailBook Offer. Some partners may only accept applications from existing shareholders of Greatland Gold plc and/or existing customers. There is a minimum subscription of £250 per investor. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges. Note, no commission will be charged to investors by RetailBook in connection with the RetailBook Offer. The Company reserves the right to scale back any order under the RetailBook Offer at its discretion. The Company reserves the right to reject any application for subscription under the RetailBook Offer without giving any reason for such rejection. If the RetailBook Offer is oversubscribed, the Company will endeavour to give allocation preference to existing shareholders of Greatland Gold plc, to the extent reasonably practicable. Read Full Thread Reply
Posted at 01/6/2025 23:48 by master rsi Why gold mining shares are too cheap, according to JP Morgan analysts By IAN LYALL AT PROACTIVE INVESTORS: 30 May 2025 - After a strong run for precious metals, gold mining shares still look undervalued. That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right. Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high. Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector. While the American bank focused on the larger producers, citing names such as Fresnillo and Hochschild, there’s plenty of value lower down the evolutionary chain. Stocks on this layer of the pyramid are increasingly disconnected from the rising gold price, rather than moving in step. Of course, being small and mid-cap companies, it often takes time for the market to focus on inherent value, even when backed by gold. These smaller players are also more prone to operational mis-steps that larger organisations can absorb. Forecast: JPMorgan’s commodities team is pencilling in a gold price of $4,100/oz for 2026 Below is a far-from-scientific roll call of gold stocks that have thus far flown under the radar. Probably the pick of the bunch is Pan African Resources, which, with a £940 million market capitalisation, has broken free from the small-cap bracket. While its share price is up around 30 per cent year to date, it still lags the performance of Endeavour (+51 per cent) and Fresnillo (+80 per cent). Dropping down a division, Caledonia Mining stands out. Its performance has been stronger than Premier African and it comes with a very decent dividend. As valuations shrink, the link between the gold price and share price weakens. A case in point is Ariana Resources, which has modest production from its Turkish operations but ambitious growth plans in Zimbabwe. Panmure Liberum analysts, fresh from a site visit to Ariana’s Dokwe project, described it as a potential multi-million-ounce asset with strong development prospects. That optimism is in stark contrast to Ariana’s stock market performance, down more than 40 per cent year to date. It suggests value and opportunity may be buried in AIM’s twilight zone. Ariana is preparing to list in Australia, a savvy move in a market where investors, both private and institutional, know how to value smaller gold companies. Appetite for diggers and prospectors is strong, supported by self-directed flows from Australia’s generous superannuation schemes. So, watch this space. Wider market moves Turning to the wider market, the AIM All-Share continued to outperform its benchmark, rising 1.3 per cent to 746.39 and outpacing the FTSE 100, which nudged just 0.4 per cent higher. This reflects growing confidence, underlined by a slew of successful fundraisings that made May a bumper month for companies replenishing their coffers. The week’s standout performer was Blue Star Capital, which jumped 150 per cent after news of its investment in cross-border crypto payments platform SatoshiPay. Avacta rose 43 per cent, a performance that would have topped the leaderboard most weeks. The appointment of two heavyweight independent directors helped ease investor concerns over a delay to the company’s results. One of the new recruits, Richard Hughes, brings deep capital markets experience, possibly signalling a strategic shift for the precision medicines group. ATOME climbed 35 per cent following the launch of a new renewable energy division, initially focused on Latin America. And the laggards… At the other end of the table, Totally fell 84 per cent as investors digested the healthcare provider’s semingly insurmountable funding position. Watkin Jones dropped 21 per cent after the developer of student housing and build-to-rent properties posted a loss and painted a gloomy picture of current trading. Finally, the small-cap market, especially where trading is thin or controlled by market makers, tends to react sharply to news, with professional price-setters often moving to protect positions rather than reflect true value. A case in point is hVIVO. Shares slumped 45 per cent on Friday following the loss of one contract and the postponement of another. Seasoned small-cap investors will know that sanity usually prevails, but it can take time for stocks like hVIVO to find their footing. In the meantime, it’s worth remembering this is a business with £47million of contracted revenue already secured for the current year and, as of its last results, £44million in cash. Read Full Thread Reply
Posted at 27/5/2025 09:20 by master rsi MARKET REPORT LONDON MARKET OPEN: Europe rises as Nato plans defence spending hike (Alliance News) - London opened in the green on Tuesday ahead of a bank holiday-shortened week, as Russia hits out at the lifting of Ukraine's range limits by its Western allies and suggests US criticism of the Kremlin is down to "emotional overload". The FTSE 100 index opened up 73.85 points, 0.9%, at 8,791.82. The FTSE 250 was up 200.50 points, 1.0%, at 20,909.22, and the AIM All-Share was up 3.06 points, 0.4%, at 739.10. The Cboe UK 100 was up 0.1% at 875.80, the Cboe UK 250 was up 1.1% at 18,391.26, and the Cboe Small Companies was marginally higher at 16,593.79. "The FTSE 100 has enjoyed five consecutive weeks of gains, and the FTSE 250 has added 1,000 points over the last month. But domestic equities have not been popular with investors in recent years. For most of the past decade, stretching back to 2016, investors have sold more UK equities than they’ve bought, and not by a small margin," commented Hargreaves Lansdown analyst Joseph Hill. "The pain has arguably been felt most acutely in the smaller companies sector. Fund managers have had to continually sell undervalued holdings to meet redemptions from investors. This downward pressure on stock prices has seen UK equity valuations trading at well below their long run averages, and particularly in small cap." UK shop prices deflation was unchanged this month, but food inflation increased, data published by the British Retail Consortium revealed. Shop prices declined by 0.1% on an annual basis in May, the BRC said, the same pace of decline as in April. Conversely, the food inflation rate was 2.8% on-year, accelerating from 2.6% in April. Fresh food price inflation rose to 2.4% on-year in May, suddenly accelerating from growth of 1.8% in April. Ambient food inflation, however, eased to 3.3% on-year from 3.7%. In European equities on Tuesday, the CAC 40 in Paris rose 0.1%, while the DAX 40 in Frankfurt improved 0.2%. The pound was quoted up at USD1.3539 early on Tuesday in London, compared to USD1.3509 at the equities close on Friday. The euro stood higher at USD1.1353, against USD1.1348. Against the yen, the dollar was trading up at JPY143.59 compared to JPY142.70. Elementis was the leading riser on FTSE 250 on Tuesday morning, up 13%. The London-based specialty chemicals company has agreed and completed the sale of its Talc business to global talc manufacturer IMI Fabi for an enterprise value of USD121 million. Net cash proceeds after expenses are around USD55 million. The disposal follows the firm's strategic review of the Talc business in August 2024, and will improve Elementis' adjusted operating profit margin by around 240 basis points. The sale will also accelerate the delivery of the group's 2026 financial targets, Elementis added. As a result, Elementis intends to return USD50 million to shareholders via a share buyback programme, which it expects to launch "as soon as possible". The firm left its full-year outlook and progressive dividend policy unchanged. At the other end, Hochschild Mining was the FTSE 250's biggest loser, down 4.1%. The London-based gold and silver miner in Argentina, Brazil and Peru said its Chief Operating Officer Rodrigo Nunes has stepped down with immediate effect, for an undisclosed reason, following his 2023 appointment. Chief Executive Officer Eduardo Landin has assumed responsibility for the firm's operations on an interim basis while the company completes the process of recruiting a new COO. React Group faded 20%. The Birmingham, England-based provider of cleaning and soft facilities management services swung to an operating loss of GBP116,000 in the six months that ended March 31, from a GBP308,000 profit the year before. This was despite revenue growing 14% to GBP12.1 million from GBP10.6 million, as administrative expenses increased 34% to GBP3.9 million from GBP2.9 million and cost of sales rose 6.5% to GBP8.2 million from GBP7.7 million. "The board is taking a more cautious approach with respect to the expected outturn for the current financial year but firmly believes that React is well positioned to capitalise on an improvement in the economy," said Chief Executive Officer Shaun Doak. Metals One shed 13%. The London-based metal project developer said it was "well-positioned" to benefit from the nuclear energy-related executive orders signed by US President Donald Trump on Friday, to allow the Departments of Energy & Defense to build nuclear reactors on federally owned land and overhaul the Nuclear Regulatory Commission. This will reportedly speed up reactor testing and boost the US's mining and enrichment of uranium. "These executive orders to support uranium production and advanced nuclear technologies are fully aligned with Metals One's strategic entry into US uranium exploration. With phase 1 exploration already underway, we are well positioned to contribute to the next generation of domestic nuclear supply and energy resilience," said Metals One Chair Craig Moulton. In Asia on Tuesday, the Nikkei 225 index in Tokyo improved 0.5%. In China, the Shanghai Composite shed 0.2%, while the Hang Seng index in Hong Kong rose 0.5%. The S&P/ASX 200 in Sydney closed up 0.6%. The Kremlin suggested that US President Donald Trump's harsh criticism of President Vladimir Putin is down to "emotional overload," amid uncertainty over the status of negotiations to try and end the war in Ukraine. The prospect of negotiations is "connected, of course, with emotional overload of absolutely everyone and with emotional reactions," Kremlin spokesman Dmitry Peskov was quoted as saying by the Russian state news agency TASS. He rejected Trump's criticism of the mass bombardment of Ukraine over the past three nights, arguing that Putin was "making the decisions that are necessary to ensure the security of our country." The Kremlin also said that any Western decision to lift range limits on arms delivered to Ukraine would be "dangerous", after Germany announced that Kyiv's allies were no longer imposing restrictions. "If these decisions have indeed been made, they are completely at odds with our aspirations for a political [peace] settlement... These are quite dangerous decisions, if they have been made," Kremlin spokesman Dmitry Peskov told Russian journalist Alexander Yunashev. In the US on Friday, Wall Street ended lower, with the Dow Jones Industrial Average fading 0.6%, the S&P 500 losing 0.7% and the Nasdaq Composite falling 1.0%. The yield on the US 10-year Treasury was quoted at 4.46%, narrowing from 4.51%. The yield on the US 30-year Treasury was quoted at 4.96%, narrowing from 5.04%. Meanwhile, Nato members are expected to agree to raise their defence expenditure to 5% of economic output, according to Secretary General Mark Rutte. A new target is set to be agreed at the Nato summit in the Dutch city of The Hague in June. "We need this, because otherwise we will never, ever achieve the capability goals we need to achieve," Rutte told the Nato Parliamentary Assembly in Dayton, Ohio. According to the Nato head, of that, significantly more than 3% would go towards traditional defence spending - internal documents mention 3.5%. The rest could go towards defence-related spending, such as military infrastructure, including railway lines, tank-compatible bridges and expanded ports. At the same time, the EU remains committed to reaching a trade agreement with the US, Trade Commissioner Maros Sefcovic said following calls with US officials on Monday. Sefcovic, in a post on the social media platform X, said that he had "good calls" with US Secretary of Commerce Howard Lutnick and Trade Representative Jamieson Greer, adding that the EU Commission will "stay in constant contact" with the US. Brent oil was quoted down at USD63.86 a barrel early in London on Tuesday from USD64.71 late Friday. Gold was quoted lower at USD3,307.54 an ounce against USD3,356.90. Still to come on Tuesday's economic calendar, eurozone consumer confidence; CBI distributive trades from the UK; and the Redbook and house price indices from the US. Read Full Thread Reply
Posted at 18/5/2025 21:29 by master rsi Someone is Panicking and Smashing the Gold Price (here's who) \| MAY 18, 2025 18:16 - Ed Steer Ed Steer reveals how bullion banks are "smashing" gold prices to cover shorts. He highlights unprecedented physical demand and delivery volumes despite price dips. In an interview on the CapitalCosm, veteran precious metals analyst Ed Steer delivered a stark assessment of the current gold and silver markets. Steer, renowned for his decades of experience and deep understanding of the sector, argues that recent price drops are not due to organic market forces but rather the actions of powerful entities attempting to suppress prices and cover their short positions. Steer, whose detailed analysis is followed by investors worldwide, didn't mince words about the recent market turmoil. "We've been smashed to the downside two or three times just in the last 6 weeks or so," he stated, directly addressing the video's title. He elaborated, pointing a finger at "the bullion banks and the investment houses trying to convince people... to try to keep the price down and keep excitement away from the market and to cover as many short positions as they can." According to Steer, a critical dynamic is at play in the Comex futures market. Despite gold trading at historically high levels, the market is primed for a significant rally. He explained that a small number of bullion banks are holding substantial short positions against a vast majority of traders who are net long on gold and silver. "You got eight traders against several thousand others that are all short and controlling the price against thousands of other traders who are net long gold and silver," Steer asserted. He believes these banks are actively working to keep prices down to manage their short exposure. While the paper price of gold and silver has seen downward pressure, Steer highlighted extraordinary activity in the physical markets. He pointed to significant outflows of gold from Comex depositories in recent weeks, a reversal of earlier trends. Simultaneously, silver is experiencing a "monstrous" inflow, much of which is staying put, indicating robust physical demand. Steer emphasized the staggering amount of gold contracts being delivered in May. "In the last two days alone... 5,500 gold contracts [were] delivered in May, which is like unprecedented," he revealed. This translates to millions of ounces of gold being demanded for immediate physical delivery, suggesting a disconnect between the paper price and underlying physical demand. For individual investors, or "stackers" as they are often called, Steer's message is one of cautious optimism and strategic accumulation. He acknowledged the psychological challenge of buying when prices are falling. "Everybody that's buying silver and gold for an investment, I mean, they look at the price and say, 'Gee whiz, it's down today, so I don't think I'm going to buy.'" However, drawing on investment wisdom, Steer advised, "As the best investors will tell you, the best time to buy an asset is when blood is running in the streets." He encouraged a consistent buying strategy, regardless of short-term price fluctuations, to benefit from the eventual upward trajectory he anticipates. Steer believes the current price suppression cannot last indefinitely. "The moment that these bullion banks stop going short against all the people that are going long, you could see the price at some fantastic price within no time at all," he predicted. He likened the bullion banks to a "cork in the price bottle," suggesting that even a temporary pause in their short-selling activity could trigger a dramatic price surge. "If they put their hands in their pocket, even for 24 hours, we'd see gold and silver prices that you frankly can't believe." Ed Steer's analysis of CapitalCosm paints a picture of a precious metals market where artificial forces are actively suppressing prices despite strong underlying demand. His insights suggest that the current situation is unsustainable and that a significant price correction to the upside is increasingly likely once the pressure from bullion banks subsides. Investors are advised to remain informed, exercise patience, and consider the long-term fundamentals driving the demand for gold and silver. Read Full Thread Reply
Posted at 02/5/2025 07:52 by pangrati Empire Metals Limited / LON: EEE, OTCQB: EPMLF / Sector: Natural Resources Conference Presentations in Australia and North America Empire Metals Limited (LON: EEE, OTCQB: EPMLF), the AIM-listed and OTCQB-traded resource exploration and development company, is pleased to inform investors of its upcoming participation in two key industry events: · RIU Sydney Resources Round-up (6-8 May 2025 at the Hyatt Regency in Sydney, NSW), where the Company will be delivering a presentation to delegates and will meet existing and prospective investors at its booth in the exhibition area; and · OTC Metals & Mining Virtual Investor Conference (6-8 May 2025), where Empire will present to a global online audience of investors and industry participants. Investors can learn more about the event and register at www.virtualinvestorconferences.com. These events provide an opportunity for the Company to update shareholders and potential investors on recent developments and strategic plans, including highlights from the ongoing exploration and development activities at the Pitfield Project and other key announcements made in recent weeks. An updated corporate presentation, reflecting the Company's latest developments, is available on the Company's website at: hxxps://www.empiremetals.com/investors/shareholder-documents/presentations/. Read Full Thread Reply
Posted at 25/4/2025 22:18 by master rsi MARKET REPORT LONDON MARKET CLOSE: FTSE 100 ends flat; online order pause knocks M&S (Alliance News) - The FTSE 100 clung onto modest gains on Friday, extending its winning run to 10, consolidating the recent rally. The FTSE 100 index rose 7.81 points, 0.1%, to 8,415.25. The FTSE 250 advanced 105.32 points, 0.5%, at 19,609.69, and the AIM All-Share gained 3.07 points, 0.5%, at 672.85. For the week, the FTSE 100 rose 1.7%, the FTSE 250 firmed 1.8% and the AIM All-Share climbed 0.5%. The Cboe UK 100 edged up to 837.77, the Cboe UK 250 gained 0.4% at 17,119.57, while the Cboe Small Companies eased 0.3% at 15,243.73. In Paris, the CAC 40 ended up 0.5%, while Frankfurt's DAX 40 climbed 0.8%. At the time of the London close, the Dow Jones Industrial Average traded 0.7% lower, the S&P 500 fell 0.1%, while the Nasdaq Composite advanced 0.2%. It was a generally calmer day on markets as investors await the latest developments on tariffs and trade talks. "We are currently in tariff purgatory," said Joachim Klement, strategist at Panmure Liberum. "There is no fundamental change to the outlook, so markets latch on to noise and get constantly whipsawed by the ever-changing utterances of Donald Trump and his cabinet." JPMorgan agreed, noting while reported progress on deals with Japan, Korea, and India is encouraging, "clarity and closure are still needed to solidify a more positive outlook and avoid further damage to the business cycle." Bloomberg reported China is considering suspending its 125% tariff on some US imports, adding to the generally softer language between the world's two largest economies this week. Elsewhere, the Financial Times reported Apple intends to move the assembly of all its iPhones sold in the US to India from China "as soon as next year", in response to the tariffs imposed on China. Citing "people familiar with the matter", the FT said: "The push builds on Apple's strategy to diversify its supply chain but goes further and faster than investors appreciate, with a goal to source from India the entirety of the more than 60 [million] iPhones sold annually in the US by the end of 2026." This will mean doubling Apple's iPhone output from India and follows "almost two decades" of investing "heavily" in its production line in China, the newspaper said. On Wall Street, Apple traded 0.4% lower. The impact of tariffs was reflected in waning US consumer sentiment which plunged in April, although by not as much as feared. The University of Michigan consumer sentiment index fell for the fourth straight month to 52.2 in April from 57.0 in March. A drop to 50.8 had been forecast by FXStreet consensus. In addition, year-ahead inflation expectations surged from 5.0% last month to 6.5% this month, the highest reading since 1981 and marking four consecutive months of unusually large increases of 0.5 percentage points or more, the report showed. Against the yen, the dollar was trading higher at JPY143.88 on Friday at the London equities close compared to JPY142.42 on Thursday. The pound also traded higher at USD1.3313 compared to USD1.3274 on Thursday. The euro stood higher at USD1.1372 on Friday against USD1.1351 on Thursday. Back in the UK, there was mixed economic news. Positively, UK retail sales rose for the third month in a row, comfortably outstripping expectations. According to the Office for National Statistics, UK retail sales volumes rose by 0.4% in March, against a 0.7% growth in February. This outperformed an FXStreet-cited consensus for a 0.4% decline in sales. Sales by clothing and outdoor retailers were boosted by good weather, said the ONS, though gains were partly offset by falls in supermarket sales. Sales volumes rose by 2.6% over the year to March, far exceeding a 1.8% FXStreet-cited consensus and accelerated from a 2.2% rise in the year to February. But separate figures published by research company GfK showed that consumer confidence fell four points to minus 23 this month, the lowest level for well over a year. "A strong retail sales prints should assuage concerns over an immediate economic collapse. At the same time, further disappointments in survey data continue to point to deterioration over the medium-term," commented Citi's Callum McLaren-Stewart. He said while the data should keep a check on some of the more "dovish impulses" from the Bank of England, over the medium-term the UK remains on a weak trajectory. The Citi analyst expects the BoE to cut interest rates in May and August before the shifting to consecutive cuts in September. On the FTSE 100, Marks & Spencer fell 2.3% after it paused UK & Ireland online orders via its websites, apps and some Marks & Spencer operated websites. This is amid the cyber incident the firm has been experiencing which it reported on Tuesday. "We continue to manage the incident proactively and the M&S team - supported by leading experts - is working extremely hard to restore online operations and continue to serve customers well," the retailer said. On the FTSE 250, Mobico plunged, shocking investors, as it said it expects to suffer a "significant" annual loss due to write-offs of goodwill, as it also announced the long-awaited sale of its North America School Bus business. Shares in the Birmingham, England-based public transport operator plunged 41%. Panmure Liberum said the sale price of the US bus division of around GBP457 million was "light" of its assumption of GBP615 million, and includes a USD70 million earn out - "which is clearly not guaranteed to be paid in full." Looking ahead, Mobico expects to report 2024 adjusted operating profit at the lower end of guidance, with School Bus expected to contribute around GBP9 million to profit. Bookmaker Evoke rose 0.3% after reporting revenue of GBP437.2 million in the first three months ended March 31, up 1.4% from GBP431.2 million in the prior year, in line with the company's guidance. However, Evoke's UK revenue fell 1%, with lower sports revenue offsetting a 3% increase in gaming. The company added that both were impacted by the introduction of additional safer gambling measures. Full-year revenue growth of Evoke is expected to be consistent with the company's mid-term target of 5% to 9% annual growth. Brent oil was quoted higher late on Friday in London at USD66.68 a barrel, against USD66.10 late on Thursday. Gold continued its volatile run, trading at USD3,279.17 an ounce on Friday against USD3,324.20 on Thursday. The global economic diary on Monday is fairly quiet with US nonfarm payrolls, US GDP data and the Bank of Japan's interest rate call the main points of interest next week. The domestic corporate calendar next week sees first quarter updates from several FTSE 100 heavyweights. Lenders Barclays, Lloyds, NatWest, HSBC and Standard Chartered, oil majors BP and Shell and drugs giant AstraZeneca are among those set to update investors. Read Full Thread Reply
Posted at 24/4/2025 21:47 by master rsi MARKET REPORT LONDON MARKET CLOSE: New York gains help push FTSE 100 into green (Alliance News) - The FTSE 100 extended its winning streak to nine days, its best run since 2019, as investors weighed earnings and the latest developments in global trade talks. "It was a fairly muted day for UK stocks which isn't a bad thing given the wild swings we've seen on financial markets in recent weeks," said Danni Hewson, head of financial analysis at AJ Bell. The FTSE 100 index rose 4.26 points, 0.1%, to 8,407.44. The FTSE 250 firmed 21.32 points, 0.1%, at 19,504.37, but the AIM All-Share fell 6.70 points, 1.0%, at 669.78. The Cboe UK 100 edged up 0.1% at 837.40, the Cboe UK 250 gained 0.3% at 17,049.19, while the Cboe Small Companies eased 0.1% at 15,294.53. In Paris, the CAC 40 ended up 0.3%, while Frankfurt's DAX 40 climbed 0.5%. At the time of the London close, the Dow Jones Industrial Average traded 0.7% higher, the S&P 500 rose 1.3%, and the Nasdaq Composite advanced 1.9%. Alongside, a barrage of earnings in Europe and across the pond, investors kept one eye on ongoing tit-for-tat comments between the US and China and hopes the US could strike a deal with India as the tariff fall-out continues. The Economic Times quoted US Treasury Secretary Scott Bessent as saying India could become the first country to strike a bilateral trade deal under Donald Trump's reciprocal tariffs. Speaking to reporters in Washington, Bessent said talks with India were "very close" to a breakthrough, the Economic Times said. Meanwhile, China called on the US to "completely cancel all unilateral tariff measures" if it wants trade talks, and also said there are "currently no economic and trade negotiations between China and the US", despite recent signs of softening from Washington. "The unilateral tariff measures were initiated by the US," said He Yadong, a Chinese commerce ministry spokesperson. "If the US truly wants to solve the problem, it should...completely cancel all unilateral tariff measures against China and find a way to resolve differences through equal dialogue." On Tuesday, US President Donald Trump said tariffs would come down "substantially" and a deal would be done "pretty quickly". But the Chinese foreign ministry on Thursday said any reports that China and the US were nearing a deal were "fake news". Also, investors across the pond took some heart from comments from a Fed official that US rates could be cut in response to slower economic growth. Fed Bank of Cleveland President Beth Hammack told CNBC that officials could move on rates as early as June if it has clear evidence of the economy's direction. Against the yen, the dollar was trading higher at JPY142.72 on Thursday at the London equities close compared to JPY142.42 on Wednesday. The pound also traded higher at USD1.3292 compared to USD1.3274 on Wednesday. The euro, however, stood lower at USD1.1351 on Thursday against USD1.1367 on Wednesday. In London, Weir Group rose 4.5% after a well-received trading update. The Glasgow, Scotland-based engineering company said it has made a "strong start to the year", and that "mining markets are positive, and the business is executing well". Group orders rose 5% in the first quarter year-on-year on a constant currency basis, Weir said. As a result, Weir said it currently sees full year trading in line with expectations for growth in constant currency revenue, operating profit and operating margin. The firm said it expects to be able to mitigate the effect of trade tariffs on guidance, albeit the broader economic impact of current US trade policy remains uncertain. Unilever ended down 0.3% as it reported modest organic sales growth in the first quarter of 2025 and prepared for the spin-off of its Ice Cream business. The London-based consumer products firm, which owns brands such as Persil detergent, Dove soap and Hellmann's mayonnaise, said organic sales grew 3.0% in the first quarter of 2025. This beat the company-compiled consensus of 2.8%. Organic sales growth was driven by both volume and price, but market conditions were more challenging than in the prior year, Unilever said. Unilever said it is on track to complete the separation of Ice Cream in the fourth quarter of 2025. The new business will be called Magnum Ice Cream Co and is expected to operate on a standalone basis from July 1. In addition to Magnum, the Ice Cream division includes Wall's and Ben & Jerry's. The business will be incorporated in the Netherlands and will continue to be headquartered in Amsterdam. Like Unilever itself, Magnum will be listed in Amsterdam, London and New York. In the red were lenders HSBC, down 2.0%; Barclays, down 1.4%; NatWest, down 1.2%; and Lloyds, down 0.8%. "Reporting season for UK banks is just around the corner and investors are thinking hard about the prospect of a choppy second half to the year. "The big lenders might seek to reassure about their financial solidity and preparedness for any macroeconomic bumps that come their way, even if it is probably too early in the year for management to change the assumptions that underpin their guidance for 2025," AJ Bell's Hewson noted. On the FTSE 250, Inchcape fell 6.8% after reporting that revenue was down 5% at constant currency to GBP2.1 billion in the first quarter. The company noted that headwinds continued in several key markets in the Asia Pacific, while in Europe & Africa, lower revenues were driven by order bank unwind. Gold gained ground, trading at USD3,324.20 an ounce on Thursday against USD3,273.46 on Wednesday. Brent oil was quoted higher late on Thursday in London at USD66.10 a barrel, against USD65.74 late on Wednesday. The global economic diary on Friday has UK retail sales and consumer confidence data, and Canadian retail sales figures. The domestic corporate calendar on Friday has a trading statement from advertising group WPP and bookmaker Evoke. Read Full Thread Reply

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