Upstream Share Discussion Threads

[master rsi] 24/3/2025 13:07

Bullies like Trump need a good kick where it hurts.
Now saying: if you do not want tariffs you have
to stop the tax on the tech companies because
they are my support friend's business.

Some thought of being a Son of a B!tch,
but others think otherwise.

[master rsi] 24/3/2025 12:56

MARKET REPORT
LONDON MARKET MIDDAY: Europe green on positive eurozone PMI reading

(Alliance News) - European stocks were higher at midday on Monday, following reports of accelerated business activity in the eurozone for a third consecutive month, and investor hopes for a more targeted approach from US tariffs.

The FTSE 100 index was up 18.11 points, 0.2%, at 8,664.90. The FTSE 250 was up 52.54 points, 0.3%, at 19,964.24, and the AIM All-Share was up 2.02 points, 0.3%, at 691.14.

The Cboe UK 100 was 0.1% higher at 865.87, the Cboe UK 250 was down marginally at 17,410.56, and the Cboe Small Companies was down 0.1% at 15,670.30.

The UK is set to post a small expansion in March, the chief business economist at S&P Global Market Intelligence said Monday, as service sector firms noted a gradual improvement in sales opportunities.

The flash UK purchasing managers composite output index published by S&P Global rose to 52.0 in March from 50.5 in February. Growing further above the neutral 50-points mark separating growth from contraction, it indicates the pace of growth sped up in March.

Meanwhile, business activity in the eurozone rose for a third consecutive month in March, with manufacturing output returning to growth for the first time in two years, a preliminary survey reading from S&P Global showed on Monday.

The Hamburg Commercial Bank flash eurozone composite purchasing managers' index rose slightly to 50.4 points in March from 50.2 in February. The reading was the highest in seven months and remained above the 50-point threshold that separates growth from contraction.

Growth was underpinned by a return to manufacturing expansion, with the sector's output index climbing to 50.7 points from 48.9, a 34-month high. The manufacturing PMI rose to 48.7 points from 47.6, a 26-month high, though still below 50 points.

In European equities on Monday, the CAC 40 in Paris was up 0.3%, while the DAX 40 in Frankfurt was up 0.5%.

"Early gains in European equities are easing back, following a mixed PMI report that saw strong manufacturing offset by questions around the direction of travel for services. Nonetheless, US futures do point towards a strong start, with traders feeling increasingly confident that the reciprocal tariffs due for implementation in just over a week could be less combative than previously expected," commented Scope Markets analyst Joshua Mahony.

Stocks in New York were called higher on Monday. The Dow Jones Industrial Average was called up 0.9%, the S&P 500 index up 1.2%, and the Nasdaq Composite up 1.4%.

Mahony continued: "With so-called 'Liberation Day' just nine days away, Trump appears to be taking a more focused and strategic approach which could yet prove less damaging that the broad approach taken thus far. There has been talk of a targeting of the so-called 'dirty 15' group of nations who have enjoyed persistent surpluses with the US, with other nations likely to remain largely unscathed. Interestingly, there has been talk of Trump pulling back from sweeping industry-specific tariffs, aimed at sectors such as autos, semiconductors, and pharmaceuticals. This may yet simply provide fresh deadlines for traders to anticipate down the line, but for now markets are starting to believe that 2 April may be a sell the rumour, buy the fact situation."

The pound was quoted at USD1.2952 at midday on Monday in London, up from USD1.2914 at the equities close on Friday. The euro stood at USD1.0843, trading higher against USD1.0819.

Against the yen, the dollar was higher at JPY149.69 compared to JPY149.05.

Abingdon Health slipped 9.0% on Monday.

The developer, manufacturer and distributor of lateral flow disease tests said its pretax loss widened to GBP2.6 million in the six months that ended December 31, from GBP1.2 million the year before, despite revenue rising 29% to GBP3.1 million from GBP2.4 million.

This was due to administrative costs increasing 16% to GBP3.2 million from GBP2.7 million, and cost of sales edging up 73% to GBP1.9 million from GBP1.1 million. The firm recorded no impairment reversals, compared to GBP361,000 the year before, and incurred one-off legal, professional and fundraising fees of GBP410,000.

Abingdon remains "confident" in delivering on an GBP8.6 million market revenue forecast for financial 2025, up 41% on-year from GBP6.1 million. "The group's key focus remains on continued revenue growth, proactive cost control, progression towards profitability and a cashflow positive position," said Chair Chris Hand.

Recruitment firm RTC faded 11%, on broadly flat 2024 pretax profit.

RTC recorded GBP2.5 million in profit, on revenue that fell 2.0% to GBP96.8 million from GBP98.8 million. Despite this, the company lifted its final dividend to 5.0 pence per share from 4.5p the year before. This brought its total 2024 dividend to 6.1p, up 11% on-year from 5.5p.

"Our solid order book across rail maintenance and renewals, and smart meter roll out and upgrades alongside other key infrastructure programmes, provides some clear visibility of revenue in 2025 and I remain cautiously confident in our short, medium and long-term prospects," said Chief Executive Officer & Chair Andy Pendlebury.

Meanwhile, Barclays was one of the FTSE 100's top risers on Monday, up 1.9%, as property investor and developer Conygar Investment Co announced it intended to repay its GBP3 million Barclays development loan.

Conygar was trading 5.7% higher.

Conygar intends to raise the funds via the sale of its development land and adjoining seabed at Holyhead Waterfront and its land at Parc Cybi, both in Anglesey, to Stena Line Ports. The disposal will net proceeds of GBP6.6 million for Conygar after sale costs.

Brent oil was quoted higher at USD72.55 a barrel at midday in London on Monday from USD72.01 late Friday. Gold was also quoted higher, at USD3,026.64 an ounce against USD3,013.40.

"Gold stabilized on Monday after a limited correction as market participants assessed the latest geopolitical and trade tensions. Potential developments around a cease-fire agreement in Eastern Europe could weigh on gold. However, an increase in tensions in the Middle East could counterbalance the impact and help support gold prices and a return to the upside," said Exness analyst Inki Cho.

"Additionally, trade policy uncertainty remains a key driver for gold, as tariffs have raised concerns over US economic stability. The lack of clarity around US trade policy could continue to unsettle markets. Any escalation in trade tariffs could amplify economic risks which would likely benefit the bullion. Meanwhile, attention shifts to this week's US GDP growth data, which may offer critical insights into the direction of the US economy."

Still to come on Monday's economic calendar, the US flash composite PMI at 1345 GMT.

[master rsi] 24/3/2025 12:29

How the UPS are performing during last month

[master rsi] 24/3/2025 12:17

How the UPS are performing today

[master rsi] 24/3/2025 12:03

English housing affordability back to similar levels before pandemic
(Alliance News) - Housing affordability in England and Wales has returned to similar levels seen before the coronavirus pandemic, helped by wages rising faster than property values, according to the Office for National Statistics, ONS.

But despite the improvements, property prices are still considered affordable in less than one in 10 local authority areas.

A sharp worsening in affordability had been seen in the early 2020s, as the financial impacts of the coronavirus were felt by households.

Last year, the median average home in England cost around 7.7 times average full-time employee earnings, at GBP290,000 versus GBP37,600.

This was a decrease from a house price-to-earnings ratio of 8.4, recorded in 2023 – and therefore marked an improvement in housing affordability.

In Wales, the average home cost GBP201,000 last year, equating to 5.9 times annual earnings, at GBP34,300.

This also marked an improvement in affordability, from a ratio of 6.2 recorded in 2023.

Back in 2021, the average home in England cost around 9.1 times the average wage, and in Wales the ratio was 6.6.

In 2019, before the coronavirus pandemic, the ratio was 7.9 for England and 5.8 for Wales.

The ONS said median house sales prices have increased by 1% since 2021.

At the same time, average earnings rose a much faster rate, by 20%.

Despite strong wage growth, in 2024, just 9% of local authorities had homes bought for less than five times workers' earnings on average.

This is the level that is deemed to be "affordable".

This was an improvement compared with 2023, when 6% of areas were deemed affordable, and marked highest proportion since 2015.

But it is still well below levels seen when records started, in 1997.

At this time, 88% of areas were deemed affordable.

Housing affordability has improved in 91% of local authorities in England and Wales and worsened in 9% since 2023, the report found.

The most affordable local authorities in 2024 were Blaenau Gwent in Wales with an average house price-to-earnings ratio of 3.8, Burnley in North West England with a ratio of 3.9 and Blackpool, also with a ratio of 3.9.

Kensington and Chelsea in London was identified as the least affordable area, with homes there typically priced at 27.1 times average earnings.

There has been some improvement in affordability in Kensington and Chelsea though, with the ratio being down from a peak of 44.0 in 2018 and falling from 33.4 in 2023.

The ONS also highlighted a particularly steep worsening in affordability in Staffordshire Moorlands in the West Midlands during the five years to 2024, with the ratio increasing from 5.8 in 2019 to 7.3 in 2024.

Sarah Coles, head of personal finance, Hargreaves Lansdown said: "Wages have risen faster than house prices in recent years, so would-be buyers are inching slightly closer to being able to afford a home of their own.

House prices are up 1% since 2021 and wages are up 20%.

"However, last year the average home in England still cost 7.7 times the average wage, so it's still an incredible stretch – especially given stubbornly high interest rates.

"Housing is considered affordable when it costs five times earnings, and still fewer than one in 10 areas have reached this level."

Coles continued: "If you're planning to buy, the best protection from being overstretched is to build as big a deposit as you can manage.

"It's worth getting all the help you can from wherever it's available – whether that's from the bank of mum and dad, or by saving into a Lifetime Isa and getting a 25% bonus of up to GBP1,000 a year from the government.

"Nothing will make buying a property a doddle, but the less you have to borrow to get you there, the less vulnerable you will be."

From April, stamp duty discounts are set to become less generous for some home buyers, with "nil rate" bands shrinking.

[master rsi] 24/3/2025 11:34

SMALL-CAP WINNERS & LOSERS: Social Housing REIT swings to 2024 loss

SMALL-CAP - WINNERS
John Wood Group PLC, up 1.6% at 39.00 pence, 12-month range 21.18p-213.20p. Extends the deadline for a potential takeover offer by Sidara to April 17, by which date Sidara must announce its intention. Sidara, also known as Dar Al-Handasah Consultants Shair & Partners Holdings, made a preliminary bid approach to the engineering and consulting business in late February. Talks between the two firms had broken down last year after Sidara made a series of attempts to buy John Wood, pricing the firm at around 230p per share.


SMALL-CAP - LOSERS
Treatt PLC, down 2.5% at 346.23p, 12-month range 335.50p-570.00p. Current Chief Financial Officer Ryan Govender is named as the new CFO at Johnson Service Group, starting on October 1. Treatt says Govender will leave on September 30, having served three years in the post. The extracts and ingredients manufacturer has started the search for his successor. At Johnson Service Group, Govender replaces Yvonne Monaghan, who will retire after 40 years with the company and 17 as CFO.

----------

Social Housing REIT PLC, down 1.8% at 58.60p, 12-month range 55.00p-67.00p. Swings to pretax loss of GBP36.4 million during 2024 from a profit of GBP35.0 million the year before, despite revenue climbing 1.7% to GBP35.8 million from GBP35.2 million. Total annual expenses increase 43% to GBP11.7 million from GBP8.2 million. The investor in newly developed social housing assets in the UK records a GBP53.0 million loss from fair value adjustment on its investment properties, compared to a GBP15.5 million gain in 2023. Its EPRA net tangible assets at December 31 was 99.05 pence per share, down 13% on-year from 113.76p. "We are confident about the future of the company," says Chair Chris Phillips. "We expect our improving rent collection and resident occupancy will contribute to narrowing the discount to NAV. We also believe a proactive, transparent approach will be key to restoring investor confidence in the company and the sector." Its adjusted dividend cover for the year was 0.99x, against 0.85x in 2023.

[master rsi] 24/3/2025 11:15

Seeing Machines appoints technology, safety chiefss

(Sharecast News) - Seeing Machines announced the appointments of John Noble as its chief technology officer and Dr Mike Lenné as its first chief safety officer on Monday, as it positioned itself to capitalise on rising regulatory demand for driver monitoring systems (DMS) across the transport sector.

The AIM-traded firm said Noble, a two-decade veteran of Seeing Machines, would lead technology strategy and product development in the newly-created CTO role.

It said he would bring deep expertise in systems engineering, research and development, and embedded systems, along with customer-facing experience across the business.

His appointment came as regulatory momentum built in Europe, where more OEMs and transport operators were adopting DMS technologies to meet safety requirements.

[master rsi] 24/3/2025 10:36

ARB 3p = / Argo Blockchain names Justin Nolan as new CEO

Investing.com -- Argo Blockchain (LON:ARB), a company specializing in blockchain technology, announced on Monday that they have appointed Justin Nolan as their new chief executive officer.

The appointment took effect on March 22.

Nolan is not new to Argo Blockchain, having previously served as the company’s chief growth officer. Before his return to Argo, Nolan held the position of CEO at Arkon Energy.

[master rsi] 24/3/2025 09:52

LST 3.05p +0.15p / PFP Division - UK "Remediation of Dangerous Cladding" Report
Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety, notes the UK Committee of Public Accounts report on the remediation of dangerous cladding, published on Friday 21 March 2025, and reiterates its belief that the Injectaclad solution installed by LSTH IFB Ltd (Injecta Fire Barrier), offers the most practical, cost-effective and least invasive solution to rectifying non-compliant public and private buildings in the UK, requiring cavity remediation.

The report highlights severe delays, with work yet to start on half of identified buildings, increasing financial burdens on residents, a lack of skilled engineers, and a large increase in the expected scope of works. Initially estimated as a £600 million effort for 450 buildings, estimates have expanded to cover 9,000-12,000 medium and high-rise buildings, with projected costs between £12.6 billion and £22.4 billion.

The Injectaclad solution offers several key benefits to alternative methods, which typically require the removal of an entire brick or rendered façade, and addresses many of the difficulties highlighted in the report whilst facilitating lower risk mitigations under the PAS 9980 guidance for risk-based assessments of external walls. Firstly, it is a far more cost-effective solution with a typical project quote being c.3x lower than the alternative of façade removal. Installation is within the internal cavity so reduces disruption for residents and overall project length significantly, while capacity is fast to ramp up, with a large pool of UK fire safety accredited installers available.

Since it was acquired in November 2023, Injecta Fire Barrier has worked on 11 buildings, taken orders totalling £2.7million, and has built a quoted pipeline of live projects with a combined value of £16.5 million. This should see the conversion of the strong quoted pipeline at a faster rate now the Building Safety Regulator has committed to clearing a backlog on 122 Gateway 2 projects by the end of April 2025.

The "Remediation of Dangerous Cladding" report can be downloaded by following the link below. This is a House of Commons committee report, which makes recommendations to the UK government. The Government has two months to respond.

Commenting on the report, Simon Deacon, Chief Executive Officer of LSTH, said:

"This report clearly highlights the slow progress on vital remediation work in the UK. In addition to that, public consensus is that the 2029 target for completing works is an unacceptably long time for this work to go undone. A stark reminder of this danger came only last August with the Dagenham fire.

"We have a compelling solution that meets new safety standards, saves money, is far faster to implement, causes significantly less disruption, and is quick to scale. Wider adoption of Injectaclad ultimately means that homes and places of work will be safer; both at a faster rate and with less financial burden."

[master rsi] 24/3/2025 09:41

UPS

THG 33.84p (33.70 v 33.94p)

A large mark-down today and a good time to stock the share, as is very volatile and there is some support around this price.
--------------- Intraday ----------------------------------- 2 months --------------------------------------- 1 year ---------------
INDICATORS

[master rsi] 24/3/2025 09:20

MARKET REPORT
LONDON MARKET OPEN: London green ahead of potential US tariff decision

(Alliance News) - London opened in the green on Monday, amid positive UK investor sentiment on hopes of more targeted US tariff decisions and manufacturing sector readings.

The FTSE 100 index opened up 48.13 points, 0.6%, at 8,693.31. The FTSE 250 was up 103.68 points, 0.6%, at 20,022.05, and the AIM All-Share was trading up 2.90 points, 0.4%, at 692.02.

The Cboe UK 100 was 0.4% higher at 869.01, the Cboe UK 250 was 0.3% higher at 17,461.42, and the Cboe Small Companies was flat at 15,687.06.

"The FTSE 100 is upbeat at the start of the week, rising amid more positive sentiment as hopes wash around about the potential for US tariffs to be more targeted," said Hargreaves Lansdown analyst Susannah Streeter.

"President Trump’s latest deadline for 'reciprocal' tariffs to be re-imposed on trading partners Canada and Mexico looms on April 2. But expectations are growing that they could be tweaked and be more focused on specific goods and sectors, instead of swathes of duties triggered in a blanket fashion. Investors are also awaiting closely watched economic snapshots, with PMI data set to indicate the strength of manufacturing sectors around the world."

In the US on Friday, Wall Street ended in the green, with the Dow Jones Industrial Average up 0.1%, the S&P 500 up 0.1% and the Nasdaq Composite up 0.5%.

"US markets ended a tentatively positive week on the front foot, although the gains were not enough to reverse the damage which has been done so far this year," said interactive investor analyst Richard Hunter.

"The latest Presidential pronouncement suggested that there could be some flexibility on tariffs...while also confirming that talks would continue with China this week. This had the effect of erasing earlier losses on the main indices, but investors remain dubious given the constantly changing narrative. Indeed, in some ways the comments simply validate the concerns which have weighed so heavily. The uncertainty has been widespread, with decisions being delayed on investment and hiring for companies, spending for consumers and allocations for investors.

"In the meantime, there remains a keen eye on the state of the nation, and the last full week of the quarter brings any number of opportunities to gauge the health of the economy...Over the next few weeks, first quarter earnings will begin to filter through, where an increasing number of companies have been dialling back estimates and expectations in view of the overarching issues with which they have had to contend."

Still to come on Monday's economic calendar, the eurozone, UK and US flash composite PMIs at 0900 GMT, 0930 GMT and 0945 GMT.

In European equities on Monday, the CAC 40 in Paris was up 0.8%, while the DAX 40 in Frankfurt slipped 0.5%.

The pound was quoted at USD1.2952 early on Monday in London, compared to USD1.2914 at the equities close on Friday. The euro stood higher at USD1.0847, against USD1.0819.

Against the yen, the dollar was trading higher at JPY149.54 compared to JPY149.05.

Celadon Pharmaceuticals tumbled 64% on Monday morning.

The fall follows James Short, chief executive officer and 39.5% shareholder, announcing last week that he intends to propose de-listing from AIM at the next general meeting, as well as the removal of four non-executive directors and the firm's chair. Short believes delisting will "help the group to significantly reduce its operational costs and also enable the company to more easily access capital, and on more attractive terms".

The board, up until March 19, had not been supportive of Short's de-listing proposal, but on Friday tendered the resignations of non-executive directors Robert Barr, Elizabeth Shanahan, David Firth and Steven Hajioff with immediate effect. The remaining directors at the pharmaceutical company focused on cannabis-based medicines are now just Chair Alexander Anton and CEO Short. Chair Anton intends to resign from the board if shareholders approve the delisting plans.

Sovereign Metals slipped 8.3%, following its request for a trading halt, for shares listed on the Australian Securities Exchange. The pause in trading is pending a proposed capital raise, to remain in place until March 26 or until an announcement is made.

FTSE 100's Intertek Group, on the other hand, rose 2.3% at Monday's open.

The consumer product testing and certification services provider launches its previously-announced share buyback for up to GBP350 million, to be completed by December 31 and run by JP Morgan Securities.

In Asia on Monday, the Nikkei 225 index in Tokyo faded 0.2%. In China, the Shanghai Composite was up 0.2%, while the Hang Seng index in Hong Kong was trading up 0.9%. The S&P/ASX 200 in Sydney closed 0.1% higher.

Rockhopper Exploration climbed 9.2% on a report that overall resources at its Sea Lion project remain unchanged. The report was published by operator Navitas Petroleum, and notes that a "significant number" of barrels have been moved from 'development on hold' to 'development pending' classification.

Brent oil was quoted lower at USD71.96 a barrel early in London on Monday, slipping from USD72.01 late Friday.

Gold was quoted higher at USD3,026.89 an ounce against USD3,013.40.

[master rsi] 24/3/2025 09:05

We cannot claim to be untainted by austerity after cuts — UK Labour MP
(Alliance News) - A Labour MP has said the party cannot claim it is not bringing back austerity after the benefit reforms announced last week.

Work & Pensions Secretary Liz Kendall announced plans to reform disability benefits that would save GBP5 billion, a move which has been criticised by charities and the Scottish Government.

Dissent has also been voiced within Labour, with Alloa and Grangemouth MP Brian Leishman saying the decision will "impoverish" the most vulnerable and "shows a basic lack of humanity".

Speaking to Holyrood Magazine, the MP, who has been critical of the UK government response to the impending closure of the Grangemouth oil refinery, said: "There is absolutely no doubt in my mind that these cuts are going to impoverish already vulnerable, disadvantaged people living in our society today.

"These are the people that we should be throwing our arms around and helping.

"It's a measurement of any society how the government treats those who are in need, and by cutting that much from the welfare budget there is no doubt in my mind that we cannot claim there is no austerity under Labour if we are going to cut that much money from welfare."

During a televised debate ahead of last year's election, which saw Labour sweep to power, Scottish Labour leader Anas Sarwar said: "Read my lips: no austerity under Labour."

The quote has repeatedly been used to attack Sarwar following a number of decisions taken by the UK government in its first months in office, but the Scottish Labour leader has stressed in recent days that the policies do not amount to austerity.

Speaking to journalists in Glasgow on Friday, Sarwar said: "You're asking about austerity. Austerity means that public spending goes down.

"Public spending is going up – the very opposite of austerity."

While a party spokeswoman insisted people who can't work "will always be supported to live with dignity under Labour", but that the party will "work to provide opportunities to those who can" and urging the Scottish Government to support employability services and "fix the chaos in our NHS [National Health Service]".

Leishman has been outspoken in his criticism of the party's handling of the closure of the refinery at Grangemouth, which will see about 400 workers lose their jobs when the facility closes in the second quarter of this year.

The decision was announced by owners Petroineos last year, citing financial pressures at the facility, and was met with criticism across the political spectrum.

But since then, both the Scottish and UK Governments have been unable to force the decision's reversal.

Before the election, multiple Scottish and UK Labour politicians said they would work to save jobs at the yard, including Sarwar, but Leishman said the party has not done enough for workers at the site.

The MP suggested using the redevelopment of Manchester United's Old Trafford stadium as a bargaining chip.

The club is owned by billionaire Jim Ratcliffe, who is chair & chief executive of the site's part-owners, Ineos Group Ltd.

Plans for the new stadium were announced earlier this year, but the club is looking for government support to regenerate the surrounding area. The money for which, Leishman says, should be withheld if the refinery closes.

"When we look at the regeneration needed around Old Trafford, why would we not say you can have that money, but you need to keep Grangemouth open? That's just negotiation in my opinion," he told the magazine.

"I have asked those questions of why we haven't done this, and the answers have been underwhelming."

A UK government spokesperson said: "We took immediate action following Petroineos' confirmation on the closure of Grangemouth, and have committed to leaving no stone unturned in supporting an industrial future at the site.

"Project Willow has recently identified credible long-term industrial options for Grangemouth, while our GBP200 million investment will support jobs and drive growth.

"We will build on Grangemouth's expertise and industrial heritage to attract investors, secure its clean energy future, and deliver on our Plan for Change."

[master rsi] 24/3/2025 08:34

SFOR 35.24p +2.24p / Full year results in line with expectations

Net revenue2 down 13.6% on a reported basis, down 11.0% like-for-like3
Operational EBITDA5 £87.8 million down 6.3% on a reported basis, down 0.6% like-for-like

Operational EBITDA margin at 11.6%, up 90bps against prior year, with improved performance due to cost control
Net debt7 at £142.9 million, below the lower end of targeted range of £150 million to £190 million, reflecting focus on cashflow

Non-cash impairment charge net of tax of £280 million
The Board proposes a final dividend of 1p per share, signaling confidence in cash flow amounting to £6.1 million, on 10 July 2025 to all shareowners on the register as at 6 June 2025."

Uncertain macroeconomic conditions and client caution have ratcheted up recently, however, our prominent positioning in AI is driving new business opportunities
2025 net revenue and operational EBITDA9 expected to be broadly similar to 2024

[master rsi] 24/3/2025 08:16

FTSE

Well up with 42 points

[pangrati] 24/3/2025 07:51

Firering Strategic Minerals Plc / (AIM:FRG)

Result of Placing and Subscription; Related Party Transactions; TVR

Firering, an exploration company focusing on strategic minerals, announces that, further to its announcement of 4.34 p.m. (London time) on Friday 21 March 2025, it has successfully completed and closed the Placing and Subscription to raise gross proceeds of c£2.014 million.

Result of the Placing

A placing agreement was entered into by the Company, Shard Capital Partners LLP ("Shard") and Greenwood Capital Partners Limited on 21 March 2025. The Placing has raised, in aggregate, gross proceeds of c£1.537 million through the placing of 43,916,054 new ordinary shares of €0.001 each ("Ordinary Shares") to certain investors at a price of 3.5 pence per share ("Placing Price"). The Placing Price represents a discount of approximately 7.9 per cent. to the Closing Price of 3.8 pence per Ordinary Share on 20 March 2025, being the latest practicable business day prior to the publication of last Friday's announcement.

Result of the Subscription

In addition, the Company has raised, in aggregate, gross proceeds of £477,000 through the conditional placing of 13,628,570 new Ordinary Shares in a Subscription at the Placing Price.

However, due to the demand for the Placing Shares, the Company has utilised substantially all of its current headroom in satisfying the issue of Placing Shares.

[pangrati] 24/3/2025 07:42

Hemogenyx Pharmaceuticals plc / LSE:HEMO

First Patient Treated with HG-CT-1 CAR-T Therapy Passes Initial Safety Tests

Hemogenyx Pharmaceuticals plc is pleased to announce that the first patient has been successfully treated as part of the Company's Phase I clinical trial of HG-CT-1, the Company's proprietary CAR-T cell therapy for relapsed or refractory acute myeloid leukemia (R/R AML) in adults. The treatment was well tolerated, with no adverse effects observed, thereby passing the initial safety assessment.

Early signs of efficacy are encouraging. The patient will continue to be monitored in accordance with the FDA-approved clinical protocol to evaluate whether the secondary endpoints of the trial are achieved.

Manufacturing of HG-CT-1 is currently underway for the treatment of a second patient.

This Phase I clinical trial is a dose-escalation study designed to evaluate the safety profile of HG-CT-1 in adult patients with R/R AML. In addition to safety, key secondary objectives of the trial include:

· Assessing the efficacy of HG-CT-1 based on AML-specific response criteria

· Evaluating overall survival

· Measuring progression-free survival

· Determining duration of response in patients demonstrating clinical benefit

Data related to these secondary endpoints, including efficacy, durability, and overall clinical outcomes, will be collected over time through continued follow-up of the treated patient. These secondary endpoints are critical for assessing the potential clinical impact of HG-CT-1 in a patient population with limited remaining treatment options.

Further updates on the clinical trial will be provided in due course.

Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:
"The successful treatment of the first patient with HG-CT-1 marks a major milestone not only for Hemogenyx Pharmaceuticals but also for patients battling relapsed or refractory AML. We are encouraged by the favorable safety profile observed so far and the early signs of efficacy. This outcome strengthens our confidence in the potential of HG-CT-1 to address one of the most challenging and deadly forms of leukemia. We remain committed to advancing this therapy through clinical development with the goal of delivering a transformative treatment to patients in desperate need while creating long-term value for our shareholders."

[master rsi] 23/3/2025 22:06

Royce Holdings may up US output amid tariff threat

(Alliance News) - Jet engine maker Rolls-Royce Holdings PLC may look to raise production in the US to counter a hit from tariffs, the Telegraph reported on Sunday.

Rolls-Royce is looking at how to reduce the hit from US tariffs, with plans to ramp-up hiring and expanding operations in the nation among its options, according to the Telegraph.

In the US, the FTSE 100 listing employs around 6,000 people with "significant operations in 27 states", according to its website.

The Donald Trump administration in the US is set to update on tariffs next month. White House Press Secretary Karoline Leavitt said there will be "big announcements when it comes to reciprocal trade" on April 2.

[master rsi] 23/3/2025 21:34

UK Chancellor Reeves confirms Civil Service cuts
(Alliance News) - Rachel Reeves has denied that Labour is heading towards austerity as she confirmed plans to cut the UK Civil Service running costs by 15%.

The chancellor pointed to money poured into capital spending and the NHS, saying the government's actions were a "far cry" from those of their Conservative predecessors.

At the same time, she said Labour was looking to cut back the Civil Service, which she said had swelled during the Covid-19 pandemic, by slashing its "back office functions, the administrative and bureaucracy functions" by the end of this parliament.

It comes after a backlash, including in the party's own ranks, to cuts to welfare spending and a decision to slash the aid budget to fund a boost to defence spending, and ahead of the Chancellor's spring statement on Wednesday.

Reeves was asked about some people on the left of the party who think she is "wielding the axe" and fear that Labour austerity is on the table.

She told the BBC's Sunday with Laura Kuenssberg: "Last year, I put GBP100 billion more into capital spending than the previous government had committed to, we put more than GBP20 billion into the National Health Service.

"That is a far cry from what we've seen under Conservative governments in the last 14 years."

She said any budgets to unprotected departments, such as the Ministry of Justice, would be set out in the spending review in June.

"We'll set all that out when we do the spending review, but we can't just carry on like we have been spending on the same things that the previous government spent on.

"People want to know we're getting value for money, when people are paying more in tax that they're getting more in return."

She also said that anyone who runs a business will agree that plans to cut Civil Service costs will be "more than possible" given advances in technology and AI.

The Cabinet Office will tell departments to cut their administrative budgets by 15%, which is expected to save GBP2.2 billion a year by 2029-30.

"We are, by the end of this Parliament, making a commitment that we will cut the costs of running government by 15%," Reeves said.

Reeves said the size of government "increased massively" during the pandemic.

"But the size of the Civil Service hasn't come back during that period. So, we now need to make sure that we do realise those efficiency savings so we can invest in the priorities."

She said the cuts would come from "the back office functions, the administrative and bureaucracy functions".

Union bosses have argued there is no simple distinction between the "back office" and the "front line".

Mike Clancy, general secretary of Prospect, said: "The chancellor has talked about undertaking a zero-based review of spending, this must include a realistic assessment of what the Civil Service doesn't do in future as a result of these cuts.

"Public servants in 'back office' and 'frontline' role will both be critical to delivering on the government's missions and the government must recognise that many civil servants are working in 'frontline' roles."

Looking ahead to the spring statement, Reeves said she would not pre-empt the Office for Budget Responsibility's forecast she will be responding to.

"But the world has changed," the chancellor told Sky News' Sunday Morning with Trevor Phillips.

"We can all see that before our eyes and governments are not inactive in that – we'll respond to the change and continue to meet our fiscal rules."

The chancellor has repeatedly said she will not budge from her fiscal rules, which rule out borrowing to fund day-to-day spending.

This has led to mounting pressure over how to balance the books – by raising taxes or cutting spending – amid disappointing growth figures and higher-than-expected borrowing.

She told The Sun she would not be raising taxes in the spring statement.

The Bank of England has reduced its forecasts for growth this year and Reeves was dealt a fresh blow on Friday as figures showed that Government borrowing had soared past forecasts in February at GBP10.7 billion – GBP4.2 billion more than had been forecast by the OBR.

An impact assessment for welfare cuts is due to be published alongside the Chancellor's statement.

Experts estimate that around a million people in England and Wales will lose their disability benefits as part of a welfare overhaul that the government believes will save more than GBP5 billion a year by the end of the decade.

Reeves told the BBC the benefits bill is "through the roof" and people are "locked out of work".

"I want to change that and give more people the dignity and pride that comes from work through proper support to get there," she said.

Shadow Chancellor Mel Stride said the Conservatives would have gone even further with welfare changes and undertaken a "fundamental overhaul" of personal independence payments, Pip, to make them "more targeted".

He told Trevor Philips: "What it means is that if you were on Pip, for example, and you had a mental health condition, a reformed Pip would quite possibly say 'Trevor, rather than giving you amounts of money every year, we will actually provide you with treatment that will help you, and in particular help you, for example, if you're not in work, to get into work'.

In a statement, Stride said Labour was "totally out of touch "with the reality facing families across the country.

"Business confidence has collapsed, growth has been killed stone dead, firms are slashing jobs and their borrowing splurge has pushed up mortgages for families.

"This is not bringing back stability to the economy, it's deeply damaging it, and families are paying the price for the chancellor's poor decisions."

[master rsi] 23/3/2025 21:11

hazl

Many thanks, a few are looking at the thread, but not many are posting

[master rsi] 23/3/2025 20:53

SUNDAY PAPERS

Share tips, comment and bids

The Sunday Telegraph: Italian shipping magnate Gianluigi Aponte’s Mediterranean Shipping Co. (MSC) pulled off one of the transport deals of the decade with his $23bn agreement to buy 45 ports from Hong Kong billionaire Sir Li Ka-shing.

The Sunday Times: After snapping up accountants, buyout barons look set to continue their acquisition spree in professional services by swooping on legal firms.

The Sunday Times: A company owned by the Wall Street banking giant JP Morgan has emerged as an early frontrunner in the £4bn sale of one of the most lucrative operators on Britain’s railways, Eversholt.

The Sunday Times: The postal locker operator InPost is poised to seize control of Yodel, the British delivery firm that is losing an estimated £1m a week.

The Sunday Times: Exeter-based Bishop Fleming has drafted in advisers from the investment bank Alantra to sell a portion of the firm to private equity (PE), which would spark the payout for 40 partners.

The Observer (Comment): Did AI mania rush Apple into making a rare misstep with Siri?

The Observer (Comment): Gold has surged amid economic uncertainty. Should you buy some?

The Sunday Telegraph (Comment): Trump’s economic self-harm is throwing Reeves a lifeline.

The Sunday Times (Comment): How Spain’s economy became the envy of Europe.

The Sunday Times (Comment): Five charts that show how Donald Trump clattered global markets.

[master rsi] 23/3/2025 20:06

SUNDAY PAPERS

Top stories

The Sunday Times: The London Stock Exchange is stepping up its campaign to stop companies listing their shares in New York by lobbying firms on the ‘myths’ surrounding the US market.

The Sunday Telegraph: Rachel Reeves will this week order the Civil Service to save £2bn a year in a move that unions said could result in tens of thousands of government jobs being axed.

[hazl] 23/3/2025 09:21

Thanks RSI for your information here.
Appreciated.

[master rsi] 22/3/2025 22:43

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