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UPS Upstream

0.00 (0.00%)
28 Feb 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Upstream LSE:UPS London Ordinary Share KYG7393S1012 ORD 0.25P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.625 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Upstream Share Discussion Threads

Showing 5526 to 5545 of 5550 messages
Chat Pages: 222  221  220  219  218  217  216  215  214  213  212  211  Older
Bitcoin - btc

Has gone over $63,000 and down again

master rsi
How the UPS are performing during last month
master rsi
How the UPS are performing today
master rsi
Direct Line rejects £3.1bn takeover approach from Belgium's Ageas

(Sharecast News) - Direct Line confirmed on Wednesday that it had rejected a £3.1bn takeover approach from Belgium's Ageas, as it significantly undervalued the group.

The terms of the highly conditional, non-binding indicative proposal comprised 100p in cash and one new Ageas share for every 25.24 Direct Line shares. As at closing on Tuesday, this implies a value of 233p per share.

"The board considered the proposal with its advisers and considered it to be uncertain, unattractive, and that it significantly undervalued Direct Line Group and its future prospects while also being highly opportunistic in nature," the company said.

The proposal was unanimously rejected by the board on 29 January.

"The board is confident in Direct Line Group's standalone prospects given its strong strategic position, powerful brands, and robust capital position," it said. "Adam Winslow will take up the role as CEO on 1 March. He is tasked with refreshing the strategy and operational focus of the group with the clear objective of returning to a sustainable level of operating profit over time."

Direct Line said there can be no certainty that any firm offer will be made.

In a statement earlier, Ageas said the proposed deal "offers a unique opportunity to unlock significant value and deliver accretion to Ageas' operational capital generation through the delivery of substantial operational and capital synergies".

master rsi
Cap-XX shares rise on developments in Maxwell Technologies ligation

(Alliance News) - Cap-XX Ltd shares rose on Wednesday, amid developments in ligation with Maxwell Technologies Inc.

Shares in the company were up 31% to 0.52 pence each in London on Wednesday afternoon. The stock remains down 25% over the past week, however.

Shares rose amid developments in ligation with Maxwell Technologies Inc, the designer and manufacturer of supercapacitors and energy management systems.

It noted that Maxwell has applied for extension to lodge application to claim costs from the firm.

It said that the claim would cover court-related costs only, without legal or expert witness expenses.

"This filing was procedural and does not substantively impact CAP-XX and only came to the attention of the company and board in the latter part of last week," it said.

The firm is in negotiations to ensure the potential claim and all other litigation matters are "resolved in a cost-effective manner as soon as possible".

It also said that current outstanding orders continue to increase, totalling USD1.3 million currently, of which USD800,000 is expected to be shipped in the current financial year.

It is "pleased" with the level of business activity, given this period typically sees slow order intake.

master rsi

Opening lower with 201 points

master rsi
BlockchainK2 [TSXv:BITK] - a very undervalued BITCOIN MINER & Cryptocurrencies & BLOCKCHAIN INVESTOR

Much better stock performance yesterday from BlockchainK2 [TSXv:BITK] and with all the cryptocurrencies including of course BITCOIN going mental again could well be another potentially decent trading day today for TSXv:BITK

Bitcoin: How to Trade the Crypto's Likely Path to New All-Time Highs
BTC/USD +6.20%
ETH/USD +2.52%
SOL/USD +1.61%
BTC/USD +5.65%

Bitcoin is on the rise and faces resistance at $60K before targeting all-time highs.
Ethereum could follow suit with the potential launch of a spot ETF in the offing.
Meanwhile, can Solana overcome hurdles to unleash its hidden potential?
In 2024, invest like the big funds from the comfort of your home with our AI-powered ProPicks stock selection tool. Learn more here>>
After breaking the key $57K resistance, the world's largest cryptocurrency, Bitcoin, appears to be aiming at a new all-time high, with the psychological $60 barrier as the primary test above.

But while BTC has been on a solid uptrend - rallying some 34% since the start of the year - other cryptocurrencies are also presenting great growth potential.

For instance, Bitcoin's main competitor, Ethereum, has boasted a 43% YTD return. Meanwhile, Solana, currently the fifth-largest digital currency by market capitalization, has posted an 8% gain since the beginning of January.

Optimism in the crypto space primarily stems from Bitcoin's upcoming halving, historically known to generate significant demand before and after the event. Additionally, the recent launch of ETFs has attracted funds into Bitcoin, reflecting positively on its spot price.

Fundamentally, hopes of rate cuts by the Fed could continue to fuel gains in the sector in the coming months.

In this piece, we will take a look at three ways to benefit from Bitcoin's attempt to reach new all-time highs.

Bitcoin Approaches $60,000, Eyes All-Time Highs
Bitcoin has been on the rise in recent weeks, making it challenging to find a better entry point at a lower price.

If Bitcoin manages to surpass the next psychological barrier of $60,000, it will pave the way for an attempt to reach the historical peak around $69,000.

MicroStrategy (NASDAQ:MSTR), a key investor in Bitcoin, has once again raised its exposure on the demand side.

Currently, its total coin holdings are valued at $6.09 billion, with an additional $155 million added in just the past few days.

Moreover, there's a continuous flow of funds into newly launched ETFs. Since January 10, when they were introduced, the total funds allocated have already reached $6.1 billion.

Ethereum Nears Crucial Resistance: Can it Break Higher?
From a technical point of view, Ethereum bulls face a serious test in the region of $3400 per coin before a potential attack on all-time highs.

Ethereum Daily ChartEthereum Daily Chart
Only if the indicated area is broken, the buyers can confidently consider reaching new highs.

Additionally, two other factors are noteworthy: the upcoming Dencum update and the potential launch of a spot ETF on Ethereum. This could create a similar demand effect as seen with Bitcoin.

Solana Consolidates With Breakout in Sights
Solana, in contrast to Bitcoin or Ethereum, began the year with a consolidation phase.

The primary challenge faced by the entire ecosystem currently is network failures and outages, hindering its full potential.

However, Solana's trading volume on decentralized exchanges (DEX) surpassed Ethereum's early in the month, signaling sustained interest.

To resume consistent growth, Solana needs to surpass its recent high, situated around $124 per coin.

Solana Daily ChartSolana Daily Chart
If bulls succeed, they are likely to target the highest point in April 2022, which is around $144.

master rsi
Bitcoin - BTC

Having reached $59,500 now is looking for $60.000

master rsi
More from yesterday’s OPTI update.

"Finally, we are pleased with progress on SweetBiotix®, its first introduction into a finished product, and the scale of the opportunity forecast by DSM Firmenich. We believe we have a number of substantive opportunities, any one of which would be transformational for the Company and shareholders alike, and collectively change the future of the business."

The Company has received preliminary forecasts from DSM-Firmenich, one of its SweetBiotix® partners, of >100,000 metric tonne per annum. Whilst a preliminary forecast it demonstrates the scale of intent and the size of the opportunity.


SweetBiotix is the Sugar replacement product.

DSM - Firmenich Market Cap £23BN

sunshine today
Direct Line rebuffs bid approach by Belgium's Ageas - Bloomberg

(Alliance News) - Shares in Direct Line Insurance Group PLC jumped on Wednesday after Bloomberg reported that it had rejected a bid approach from Belgian insurer Ageas SA.

Shares in Direct Line, the Bromley, England-based motor and home insurer, soared 16% to 188.84 pence each in London on Wednesday.
Industry peer Admiral Group PLC rose 2.1% to 2,632.00p. Shares in Ageas, meanwhile, eased 2.2% to EUR38.47 in Brussels on Wednesday.

Bloomberg said Ageas had made an approach to buy Direct Line in recent weeks but this had been rejected, citing people familiar with the matter.

Ageas has been working with advisers on the potential acquisition, Bloomberg added.

Direct Line, which has a market value of around GBP2.40 billion, was created through an initial public offering from Royal Bank Of Scotland’s insurance division in 2012.
Former Aviva PLC UK boss Adam Winslow will officially join the company as chief executive officer on March 1.

He will be replacing CEO Penny James, who agreed to step down immediately in January last year after the company skipped its final dividend due to a big increase in weather related claims causing a loss on underwriting.

master rsi
OPTI on the way up, after yesterday’s update.

Tiny Market cap of under £25M

No debt.

A stock to perhaps lock away for five years, as the world transforms from using sugar in food and drinks to a high fibre natural sweetener, with low or no calories.

Dumping sugar itself, and all the unnatural man made sweeteners.

What a fantastic improvement in the world’s health that would be. !!!

sunshine today
LONDON MARKET MIDDAY: FTSE 100 takes hit from disappointing earnings

(Alliance News) - Stock prices in London were lower at midday Wednesday, as investors nervously wait for some key US data.

The FTSE 100 in London took a big hit from disappointing results from St James's Place and Reckitt Benckiser.

The FTSE 100 index was down 50.42 points, 0.7%, at 7,632.60. The FTSE 250 was down 120.21 points, 0.6%, at 19,043.45, and the AIM All-Share was down 4.26 points, 0.6%, at 741.39.

The Cboe UK 100 was down 0.7% at 764.22, the Cboe UK 250 was down 0.9% at 16,376.69, and the Cboe Small Companies was up marginally at 14,567.65.

In European equities on Wednesday, the CAC 40 in Paris was down 0.1%, while the DAX 40 in Frankfurt was up 0.5%.

Focus is on the latest US economic growth figures on Wednesday, with personal consumption expenditures - which contains a key inflation metric - to follow on Thursday. The PCE reading is closely followed by the Federal Reserve when making decisions on interest rates.

According to FXStreet-cited consensus, the headline annual PCE inflation rate is to ease to 2.4% in January, from 2.6% in December. The core reading, the Fed's preferred inflationary gauge, is to ebb to 2.8% from 2.9%.

Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.3%, the S&P 500 index down 0.4%, and the Nasdaq Composite down 0.5%.

Meanwhile, in the eurozone, economic sentiment was weaker than expected this month, survey results on Wednesday showed.

According to the European Commission, the economic sentiment indicator for the eurozone fell to 95.4 points in February from January's revised reading of 96.1, which was first reported as 96.2. Market consensus, according to FXStreet, had been expecting an improved reading of 96.7 points for February.

"The economy remains stuck in stagnation with services weakening. The good news is that selling price expectations ticked down again, all providing fuel for rate cuts later this year," analysts at ING said.

The pound was quoted at USD1.2648 at midday on Wednesday in London, down compared to USD1.2693 at the equities close on Tuesday. The euro stood at USD1.0816, lower against USD1.0854. Against the yen, the dollar was trading at JPY150.63, higher compared to JPY150.41.

In the FTSE 100, St James's Place plummeted 32%. It was by far the worst performer.

The fund manager and financial adviser swung to a pretax loss of GBP4.5 million in 2023 from GBP503.9 million profit in 2022. SJP established a GBP426.0 million provision for potential client refunds "linked to the historic evidence and delivery of ongoing servicing".

"A combination of the provision we have established and an expected decrease in the level of profit growth in the next few years as we transition to our new charging structure, reduces our ability to invest for long term growth in our business over the next few years," said CEO Mark FitzPatrick.

The firm slashed its final dividend to 8.00p from 37.19p, bringing the full-year total to 23.83p, down from 52.78p. Going forward, it plans total annual shareholder distributions to be 50% of its annual underlying cash results. It also said dividends will be fixed at 18.00p annually for the next three years.

Reckitt Benckiser lost 12%.

The consumer goods firm said revenue in 2023 increased 1.1% to GBP14.61 billion from GBP14.45 billion a year before, missing company-compiled consensus estimates of GBP14.75 billion. Pretax profit dropped 22% to GBP2.40 billion from GBP3.07 billion, amid a GBP810 million goodwill impairment and other higher operating expenses.

AJ Bell's Russ Mould commented: "As the owner of a large portfolio of well-known brands, Reckitt has found life a lot tougher and its latest results suggest its pricing power isn't as strong as some people thought. The idea that it can keep pushing up prices without damaging demand has gone out the window as its fourth quarter numbers are truly miserable. It looks like people are voting with their feet and going for the cheaper option."

In the FTSE 250, HICL Infrastructure rose 3.6%.

The London-based closed-ended investment company said it has sold its entire stake in the US Northwest Parkway toll-road project to Vinci Highways SAS for about USD232 million.

HICL said that up to GBP50 million of the sale proceeds will be used to fund a share buyback programme, with the remainder allocated to the drawn balance on its GBP650 million revolving credit facility.

Amongst London's small-caps, Halfords plummeted 31%.

Halfords cut its annual profit forecast, after seeing "further material weakening" in three of its four core markets, which has resulted in a "significant" drop in like-for-like revenue growth in its Retail business.

The retailer now expects underlying profit before tax for the 52-week period to March 29 to be between GBP35 to GBP40 million, a downgrade from its guidance of GBP48 to GBP53 million last month.

Halfords explained that Cycling and Retail Motoring were hit by "weak customer confidence and unusually mild and very wet weather", which hit footfall and sales of categories such as winter and car cleaning products.

Brent oil was quoted at USD81.88 a barrel at midday in London on Wednesday, down from USD82.25 late Tuesday. Gold was quoted at USD2,027.44 an ounce, down against USD2,033.79.

master rsi
How the UPS are performing during last month
master rsi
How the UPS are performing today
master rsi
Avingtrans half-year revenue surges on strong order intake
(Alliance News) - Avingtrans PLC on Wednesday said higher order intake drove revenue growth for the first half of its financial year ending May 31.

The Cambridgeshire, England-based company which designs and supplies components and services to the energy, medical and industrial sectors said revenue jumped 30% to GBP65.2 million in the half-year ended November 30, from GBP50.0 million the year before, in line with expectations.

Its Advanced Engineering Systems division was the main driver in revenue growth to its strong order intake and strategic acquisitions, Avingtrans said.

Pretax profit rose 3.0% to GBP3.4 million from GBP3.3 million in the first half of financial 2023.

The company's interim dividend was reduced by 5.3% to 1.8 pence per share from 1.9p in the corresponding six months a year ago.

Looking ahead, Avingtrans said that whilst ongoing disruptions in supply chains "remain a primary uncertainty", it believes that the situation will "gradually ease looking forward."

"Inflationary pressures continue to impact our businesses, but we are actively working to mitigate these risks, maintaining stable margins through considerable proactive efforts by our business units," it added.

Chair Roger McDowell said: "We have solid visibility over [second half of financial 2024] revenue and profits, thanks to a strong order intake and timely contract revenue recognition. Additionally, there are no destocking issues, since group products are "make to order". Thus, the board continues to be confident about our expectations for the full year and views the future positively."

Shares in Avingtrans rose 5.1% at 362.75 pence each in London on Wednesday morning.

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Endeavour suspends underground mining after "fatal accident"

Endeavour Mining PLC - gold miner with operations in the Ivory Coast, Senegal and Burkina Faso - Reports death of contractor on Tuesday at the Mana mine in Burkina Faso. The contractor sustained injuries in a "fatal accident" during maintenance activities.
Company says underground mining activities have been temporarily halted while the incident is investigated, although processing activities are continuing. Says it will work closely with local authorities and conduct a "comprehensive internal investigation". Adds: "The health, safety and welfare of our colleagues are our top priority and we are deeply saddened by this news."

Current stock price: 1,234.00 pence, down 3.4% in London on Wednesday

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Segro adds GBP100 million to equity raise target citing strong demand
(Alliance News) - Segro PLC on Wednesday said it will increase the size of the fundraise that it had announced on Tuesday, having received significant interest from both existing and new investors.

On Tuesday, the London-based property investment firm announced that it would be raising up to GBP800 million through a share placing and retail offer.

The new equity will allow it to "pursue additional growth opportunities, including new and existing development projects and to take advantage of potential acquisition opportunities which may arise", Segro said.

Its "sizeable" development pipeline holds the potential to deliver over GBP440 million in additional rent, which would require around GBP3.8 billion in development capital expenditure, the company said.

As a result of "strong demand received both from existing investors and potential new holders", Segro will increase the size of the raise to GBP907 million.

The placing and retail offer comprises a total of 110.6 million new shares, representing around 9.0% of the Segro's existing share capital prior to the placing. The placing is being conducted at a price of 820 pence, a 3.4% discount to Segro's Tuesday closing price.

Segro said that the dilutive impact of the placing and retail offer represents around 8.3% of the company's issued share capital.

Chief Executive Officer David Sleath said: "We appreciate the support from our investor base for this equity placing and the confidence it demonstrates in our business. In addition to the profitable growth opportunities within our development pipeline, we expect further exciting opportunities to emerge in the coming months which this additional capital will help us to deliver".

Shares in Segro were down 1.2% at 839.40 pence each in London on Wednesday morning.

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TW. 135.80 -4.75p / Taylor Wimpey edges up dividend despite 40% profit fall
(Alliance News) - Taylor Wimpey PLC on Wednesday painted an optimistic outlook as it reported a fall in profit for last year on the back of now-abating higher mortgage rates which had impacted affordability.

The Buckinghamshire, England-based housebuilder said pretax profit declined 43% to GBP473.8 million in 2023 from GBP827.9 million a year prior.

Revenue fell 21% to GBP3.51 billion from GBP4.42 billion. Cost of sales decreased 15% to GBP2.80 billion from GBP3.29 billion.

Taylor Wimpey said it finished 2023 with 237 UK outlets, down 8.5% from 259 at the end of 2022.

The company highlighted: "Higher than expected inflation in the second quarter led to rate increases culminating in the base rate rising to 5.25%, well above initial market expectations. Whilst remaining high compared to recent years, mortgage rates started to fall towards the end of the year."

Despite the contraction in profit and revenue, Taylor Wimpey increased its final dividend by a penny to 4.79 pence per share from 4.78p, bringing the total payout to 9.58p for 2023, up 1.9% from 9.40p for 2022.

Commenting on Monday's report from the UK Competition & Markets Authority, which is investigating an under-delivery of homes by construction companies including Taylor Wimpey, the company said:

"Taylor Wimpey welcomes the CMA's final report, published on 26 February 2024, from its housebuilding market study with its focus on improving the planning system, adoption of amenities and outcomes for house buyers. Taylor Wimpey notes the new investigation opened by the CMA under the Competition Act 1998, and we will cooperate fully in relation to this."

Looking ahead,Taylor Wimpey cited "encouraging signs of improvement" such as reduced mortgage rates positively impacting affordability and confidence in the firm's customer base. However, it cited significantly reduced land approvals over the last 18 months, adding that the constraining impact of planning on site openings in the UK is unlikely to abate in the near-term future for the sector.

"We are well positioned for growth from 2025, assuming supportive market conditions," the company said.

Chief Executive Officer Jennie Daly said: "While the planning environment remains challenging, we have a high-quality, well-invested landbank and a strong financial position which underpins our ability to provide investors with a reliable income stream via our differentiated ordinary dividend policy. Looking ahead we are well-positioned in an attractive market, with significant underlying demand for our quality homes and are poised for growth from 2025, assuming supportive market conditions."

master rsi
88E 0.305p -0.005p / 88 Energy moves closer to start of pivotal well testing in Alaska

Proactive Investors - 88 Energy (LON:88E) has announced significant progress in its preparations for flow testing operations at its Hickory-1 well, in Alaska, as the countdown continues.

Mobilisation operations have successfully completed, the company said in a statement, it is now testing and preparing the blow-out preventers (BOP) installed at the wellhead.

Two flow tests are scheduled, targeting the Upper SFS and SMD-B reservoirs, with each phase anticipated to span around ten days.

They are designed to gather essential data that will inform future development strategies.

Each zone will be independently isolated, stimulated and flowed to surface using nitrogen lift to assist in an efficient clean-up of the well, the company noted.

It seeks to better understand reservoir deliverability, fluid composition, pressures, and connectivity.

These data points are valuable for accurate reservoir modelling, and ultimately the progression of Project Phoenix.

“Any future development plan for Project Phoenix would be expected to include horizontal wells to maximise oil rates. As is evidenced in many Lower 48 analogues, horizontal wells typically produce at rates 6-12 times higher than vertical wells, once lessons from field development are captured in the appraisal phase,” 88 Energy added.

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