Upstream Share Discussion Threads

[master rsi] 18/3/2025 15:09

Midwich profit falls 39% but expects stronger second half in 2025

(Alliance News) - Midwich Group PLC on Tuesday reported a drop in annual profit, citing subdued demand and pricing pressure in its mainstream product categories, but said it expects a higher weighting of earnings in the second half of 2025.

The Norfolk, England-based company, which distributes specialist audiovisual technology to the trade market said pretax profit for 2024 fell 39% to GBP22.3 million from GBP36.5 million in 2023, despite revenue rising 1.7% to GBP1.32 billion from GBP1.30 billion.

The company attributed the decline to weaker demand in the education and corporate sectors, alongside "significant price erosion" in some mainstream product lines due to excess supply from manufacturers.

Gross margin improved slightly to 18%, supported by a focus on higher-margin product areas. Adjusted operating profit fell 19% to GBP48.3 million from GBP59.6 million, reflecting cost pressures and the impact of pricing declines.

The company declared a final dividend of 7.5 pence per share, bringing the total payout for the year to 13.0p, down from 16.5p in 2023.

Looking ahead, Midwich said it anticipates stronger performance in the second half of 2025, with cost-saving measures and continued diversification into technical product categories helping to offset challenges in mainstream markets.

[master rsi] 18/3/2025 14:18

Yu Group revenue surges in 2024

(Sharecast News) - Yu Group reported a strong 2024 financial performance on Tuesday, with revenue rising 40% to £645.5m, driven by a 78% increase in energy volumes supplied.

The AIM-traded company said it expanded its market share to 2.7%, up from 1.3% in the prior year.

Adjusted EBITDA grew 11% to £48.8m, while profit before tax increased 12% to £44.5m.

The company said it maintained strong cash generation, with net cash rising to £80.2m following the successful implementation of a hedging agreement with Shell Energy Europe, which removed the need for cash collateral.

Earnings per share increased to 210p on an adjusted, fully diluted basis.

The board recommended a final dividend of 41p per share, bringing the full-year payout to 60p, a 50% increase year-on-year.

Operationally, Yu Group increased the number of supplied meter points by 65% to 88,000 and installed 22,900 smart meters, up 14,400 from the prior year.

It said its smart meter asset ownership continued to build long-term annuity income, with index-linked annual recurring revenue reaching £1.3m.

The company said it also expanded its in-house technical training and development centre to support national engineering coverage.

Yu Group entered 2025 with £566m in contracted revenue, a 9% increase from the previous year.

Management expects total revenue to reach between £730m and £760m, with adjusted EBITDA, earnings per share, and closing net cash in line with market expectations.

[master rsi] 18/3/2025 13:56

Fintel upbeat after strong 2024 performance
(Sharecast News) - Fintel reported a strong 2024 financial performance on Tuesday, with core revenue rising 22% to £68.9m, supported by £15m in revenue from acquisitions.

The AIM-traded firm said adjusted EBITDA increased 8.5% to £22.2m as the company continued to invest in expanding its product and service offerings.

Core software-as-a-service and subscription revenue grew 17% to £44.1m, reflecting the strength of its recurring revenue streams.

The company completed four acquisitions in 2024 with an initial cash investment of £16.6m, contributing £7.5m in core revenue.

Strategic additions included Owen James to strengthen its events and insights business, Synaptic Software to expand into the protection sector, and ifaDASH to enhance regulatory technology capabilities.

Fintel said it also made a minority investment in Mortgage Brain and acquired Threesixty Services to bolster its compliance offering.

In early 2025, it completed the acquisition of Rayner Spencer Mills Research to extend its fund research and ratings platform.

Fintel maintained a strong balance sheet with £6.3m in cash and £50m in available credit.

Net debt stood at £23.7m, representing leverage of 1.1x following acquisitions and increased investment.

Adjusted earnings per share rose 8.2% to 13.2p, benefiting from a one-off tax gain.

The board proposed a final dividend of 2.45p per share, bringing the full-year payout to 3.65p, up 5.8% from 2023.

Fintel said it continued investing in technology, launching its Matrix 360 market intelligence software in January 2025 and its Fintel IQ platform in May 2024 to support larger IFA firms.

It also expanded its technology, data, and research capabilities following recent acquisitions.

The company said it entered 2025 with strong momentum, with trading in line with expectations.

Fintel said it expected to benefit from an improving housing market and rising regulatory demand for data and insights.

Management remained confident in delivering further strategic and financial progress through acquisition integration, organic growth, and further synergies.

"2024 has been a seminal year for Fintel, marked by continued strategic advancements and strong financial performance," said chief executive officer Matt Timmins.

[master rsi] 18/3/2025 13:53

DOW

Opening lower with 194 points

[master rsi] 18/3/2025 12:40

MARKET REPORT
LONDON MARKET MIDDAY: Europe up before Trump-Putin call

(Alliance News) - European stocks were in the green at midday on Tuesday, with risk appetite "tentatively returning" ahead of a slew of central bank decisions later this week.

The central banking bonanza kicks off with Bank of Japan decision in the early hours of Wednesday, before the Federal Reserve that evening. The Bank of England is among those announcing a rate decision on Thursday.

The FTSE 100 index added 32.62 points, 0.4%, at 8,713.28. The FTSE 250 was up 152.74 points, 0.8%, at 20,181.29, and the AIM All-Share was up 4.79 points, 0.7%, at 693.75.

The Cboe UK 100 was up 0.4% at 870.82, the Cboe UK 250 added 1.0% at 17,608.07, and the Cboe Small Companies climbed 0.3% at 15,646.96.

"The FTSE 100's recovery from a dip earlier this month continued with pace," said AJ Bell analyst Russ Mould. "Investor risk appetite is tentatively returning, as evidenced by miners leading the charge and people buying the recent dip in retailers. However, investors aren't diving head first into the deep end. They're taking things slowly, hence why banks and their reassuring dividends were also in demand."

Barclays was among the best large-cap performers in London, up 2.9%. Copper miner Antofagasta added 2.1%.

The Kremlin said a highly-anticipated phone call between Vladimir Putin and Donald Trump will take place between 1300 GMT and 1500 GMT on Tuesday. The pair will discuss Ukraine and the "normalisation" of US-Russian ties.

This would be the second phone call between the two presidents since Trump returned to office in January.

Swissquote analyst Ipek Ozkardeskaya commented: "There is growing hope that the US efforts to broker a peace deal between Russia and Ukraine will be successful - a development that could restore trade relations between Russia and the EU, ease energy prices in Europe and support growth."

Iron ore pellet maker Ferrexpo, which operates in Ukraine, traded 3.4% higher in London. The stock has jumped roughly two-thirds over the past year, but is down by around a quarter so far in 2025.

The pound was quoted at USD1.2981 at midday on Tuesday in London, down from USD1.2987 at the equities close on Monday. The euro stood at USD1.0928, up against USD1.0922. Against the yen, the dollar was trading higher at JPY149.59 compared to JPY148.57.

Sterling eased from an intraday high of USD1.3004, its best level since November.

Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.2%, the S&P 500 index down 0.3%, and the Nasdaq Composite down 0.4%.

The Fed is expected to leave rates unmoved on Wednesday. The Federal Open Market Committee kicks off its two-day meeting on Tuesday.

Exness analyst Terence Hove commented: "While markets widely expect the central bank to hold rates steady, market participants will closely monitor Fed Chair Jerome Powell's speech, which could influence sentiment and monetary policy expectations. A dovish stance should weigh on the greenback, while a more restrictive outlook is likely to provide temporary support for the currency."

In European equities on Tuesday, the CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was up 1.1%.

German chancellor-in-waiting Friedrich Merz said that his proposed huge spending boost for defence was needed because of Russian President Putin's "war of aggression against Europe".

"It is a war against Europe and not just a war against the territorial integrity of Ukraine," Merz told parliament ahead of a vote on plans that also include massive new funding for infrastructure.

Merz said Russia's aggression had included cyber-attacks and espionage, arson and contract killings as well as disinformation campaigns that "attempt to divide and marginalise the EU".

Europe today faces "an aggressive Russia" as well as "an unpredictable US of America", said Merz, whose conservative CDU/CSU bloc won last month's general elections.

Defence firm Rheinmetall added 4.2%, one of the best large-cap performers in Frankfurt. The expectation of a rise in government defence spending has meant the stock has more than doubled so far in 2025.

Pensana shares were up 29% in London at midday.

The rare earths explorer said it has received approvals for full financing of its Longonjo rare earth project, totalling around USD268 million. Longonjo is expected to produce around 20,000 tonnes of mixed rare earth carbonate a year.

Trustpilot shares were up as high as 15% in early trade, before settling 5.5% higher at midday.

The consumer reviews platform swung to pretax profit of USD5.2 million in 2024, from a loss of USD1.9 million in 2023. It expects a 2025 outturn ahead of market expectations.

Sabre Insurance added 7.0%. The motor insurance underwriter reports improved 2024 earnings and announced a share buyback.

Pretax profit in 2024 more than doubled to GBP48.6 million from GBP23.6 million. Gross written premiums were up 5.0% to GBP236.4 million from GBP225.1 million.

"We are extremely pleased with our performance in 2024, demonstrating strong cycle management over the past twelve months. We grew strongly in the first half of the year when market conditions were attractive, and we maintained our strict underwriting discipline despite a steep decline in market prices during the second half," Chief Executive Officer Geoff Carter said. "This allowed Sabre to deliver a strong financial performance and robust capital position for the business. We were delighted to announce our Ambition 2030 growth strategy in December last year and are encouraged by the early progress we have made as we continue to invest in the growth of the business."

Sabre is to execute its first share buyback, worth about GBP5 million.

Gold was quoted at USD3,026.51 an ounce at midday in London on Tuesday, up from USD2,988.54 at the London equities close on Monday. Gold hit a record high above USD3,029 an ounce.

Brent oil was quoted at USD71.81 a barrel, up from USD71.04 late Monday.

Still to come on Tuesday's economic calendar, there is US industrial production data at 1315 GMT.

[master rsi] 18/3/2025 12:31

How the UPS are performing during last month

[master rsi] 18/3/2025 12:15

How the UPS are performing today

[master rsi] 18/3/2025 11:54

LST 3.15p +0.55p from proactive

Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon takes Proactive's Stephen Gunnion through the company’s strong financial results for 2024 and its strategic plans for the future.

The company reported a 29.5% increase in revenue, reaching £12 million, up from £9.3 million the previous year. Deacon highlighted an improvement in gross margin from 23.4% to 30.3%, which has helped drive the company closer to profitability.

Light Science has also expanded through acquisitions, integrating new businesses to strengthen its Agtech and Passive Fire Protection divisions. The Agtech division saw significant growth, with revenue increasing by 250%. The company now offers a broad range of solutions, including lighting, sensors, irrigation, and control systems, with a £40 million quoted pipeline.

Deacon also discussed the company’s £50 million revenue target and its ambition for 20% of Agtech revenue to be recurring through software and live data services. He emphasised the company’s global strategy, forming partnerships like the recent Agrolux collaboration to expand internationally.

With increasing focus on food security, climate change, and sustainability, Light Science sees strong demand for its technologies in controlled environment agriculture and broader environmental monitoring.
Video ...

[master rsi] 18/3/2025 11:43

GOLD

Well on the up with $28 after breaking the $3.000

[master rsi] 18/3/2025 10:55

Zotefoams hails record revenue in 2024 as prepares expansion

(Alliance News) - Zotefoams PLC on Tuesday raised its total dividend after reporting record revenue in 2024, as the company positions for expansion in Asia.

The London-based cellular materials company said 2024 revenue rose 16% to GBP147.8 million from GBP127.0 million in 2023.

Of total sales, High Performance Products increased 37% to GBP79.6 million from GBP58.1 million. Polyolefin Foams sales fell 1% to GBP66.9 million from GBP67.6 million. The company said this was the first time high-performance product sales surpassed those of Polyolefin Foams. This reflected the group's focus on mix enrichment.

Pretax profit before exceptional items was GBP15.3 million, up 19% from GBP12.8 million the year prior. Pretax profit after exceptional items of GBP15.2 million related to the closure of its MuCell business was GBP200,000, compared to GBP12.8 million in 2023.

In December, Zotefoams announced it would wind down MuCell Extrusion LLC to focus all resources on "near-term opportunities in the core supercritical foams businesses".

The company had been developing a fully circular solution for mono-material barrier packaging, named ReZorce.

Zotefoams said it would retain intellectual property and know-how regarding MuCell's ReZorce technology for use "should market conditions become more favourable".

The MuCell business had reported a loss of GBP21.6 million in 2024, compared to a GBP5.5 million loss in 2023.

For the full-year, Zotefoams reported a total comprehensive loss of GBP4.2 million, swung from profit of GBP8.2 million in 2023.

Zotefoams has proposed a second half dividend of 5.10 pence, compared to 4.90 pence in 2023. This brings the total dividend to 7.48 pence, up 4.2% from 7.18 pence last year.

Looking ahead, Zotefoams highlights a "well-invested and differentiated assets" in Europe, the Middle East & Africa and North America.

[master rsi] 18/3/2025 10:23

ZOO 11.25p +0.275p

AI Overview
As of March 18, 2025, analysts forecast a 12-month price target of 73.46p for Zoo Digital shares, a significant increase from the last closing price of 11.25p.
Here's a more detailed breakdown:

Analyst Consensus Target Price:
The analyst consensus target price for Zoo Digital shares is 73.46p.
Percentage Increase:
This target price represents a 552.99% increase above the last closing price of 11.25p.
Earnings Per Share (EPS) Forecast:
Analysts covering Zoo Digital currently have a consensus EPS forecast of -$0.05 for the next financial year.

Company Overview:
Zoo Digital is a provider of services allowing TV and movie content to be subtitled and dubbed in any language and prepared for sale with all major online retailers.

Market Context:
The rise in global content consumption is pushing the need for companies like Zoo Digital that offer language and localization services.
Competitive Landscape:

Zoo Digital operates in a competitive industry, where there are numerous players offering similar services (subtitling, dubbing, and localization).

[master rsi] 18/3/2025 08:55

MARKET REPORT
LONDON MARKET OPEN: European stocks rise and gold gleams again
Tue, 18th Mar 2025 08:54Alliance News

(Alliance News) - European stocks opened higher on Tuesday, with London's FTSE 100 looking set to extend its winning streak to five days.

The pound, meanwhile, spiked to USD1.3000 in early trade, from USD1.2987 at the time of the London equities close on Monday. Sterling was at its best level since November.

The FTSE 100 index traded up 29.82 points, 0.3%, at 8,710.11. The FTSE 250 was up 121.78 points, 0.6%, at 20,149.69, and the AIM All-Share was up 3.76 points, 0.6%, at 692.72.

The Cboe UK 100 was up 0.3% at 870.48, the Cboe UK 250 was 0.9% higher at 17,578.94, and the Cboe Small Companies was flat at 15,608.13.

In Paris, the CAC 40 rose 0.6%, while the DAX 40 in Frankfurt added 0.9%.

The euro rose to USD1.0948 from USD1.0922. Against the yen, the dollar advanced to JPY149.88 from JPY148.57.

"US data continues to haunt the dollar, which fell against all G10 currencies excluding the yen yesterday," ING analysts commented.

"February retail sales rose less than expected (0.2% month-on-month versus 0.6% consensus) following a major drop in January, while the Empire Manufacturing Index plummeted to the lowest level in more than a year."

ING added: "There is no top-tier data likely to steer the dollar today, although some focus will be on industrial production figures for February and housing starts. Further downside risks for the dollar may stem from today's Trump-Putin phone call on Ukraine. Any progress towards Russia accepting the ceasefire plan laid out by the US and Ukraine can add extra pressure on the safe-haven dollar and yen."

US President Donald Trump and Russian leader Vladimir Putin will talk on the telephone later on Tuesday about a possible end to the war in Ukraine.

Following an announcement by Trump, the Kremlin confirmed on Monday that the phone call was planned. According to the US president, he wants to end the war as quickly as possible.

This would be the second phone call between the two presidents since Trump returned to office in January.

Putin recently praised Trump's efforts to find a solution to the Ukraine conflict, which Moscow sparked by launching a full-scale invasion of its neighbour in February 2022.

The dollar and yen will also be in focus on Wednesday, with rate calls from the Federal Reserve and Bank of Japan on the docket.

The Bank of Japan is expected to keep interest rates steady in its next decision on Wednesday, although a hike later this year is broadly anticipated by analysts.

SPI Asset Management analyst Stephen Innes commented: "The BoJ kicked off its two-day policy meeting on Tuesday, with policymakers set to gauge just how much of a threat the escalating US trade war poses to Japan's economy. Markets are already positioned for further rate hikes this year, but if the BoJ signals dovish intent in Wednesday's statement, expect the yen to take a hit, fuelling fresh upside in JPY crosses. With Japan's economic surprises index sinking to its lowest level since January, traders are already on edge, making hedging for those long JPYs, more so on the cross, a no-brainer ahead of the decision."

The Fed is also expected to leave rates unmoved.

Analysts at Lloyds Bank commented: "But expectations for Fed balance sheet policy are offer more interest, with the last minutes mentioning the possibility of a QT slowdown or pause soon."

In China, the Shanghai Composite ended up 0.1%, while the Hang Seng Index in Hong Kong jumped 2.5%. The Nikkei 225 in Tokyo rose 1.2% and the S&P/ASX 200 in Sydney edged up 0.1%.

In New York on Monday, the Dow Jones Industrial Average traded 0.9% higher, the S&P 500 rose 0.6% and the Nasdaq Composite added 0.3%.

Tuesday's economic calendar has US industrial production data at 1315 GMT, after a eurozone trade balance reading at 1000 GMT.

A barrel of Brent rose to USD71.74 early Tuesday, from USD71.04 at the time of the closing bell in London on Monday. Gold rose to USD3,024.46 an ounce, a record high, from USD2,995.90.

"In the current environment, every day seems to offer a new catalyst for the gold price," XTB analyst Kathleen Brooks commented.

"Gold miners have generally not followed the gold price too closely so far this year. Miners tend to follow the gold price but with a lag, however, now that the price of gold is comfortably above USD3,000 per ounce, it could be time for the gold miners to play catch up. Endeavour Mining, one of the biggest miners on the FTSE 100, has risen by 7% in the past week, at the same time as the gold price rose above USD3,000 per ounce. However, there could be further to go, it is still some way from the 2-year high reached in October."

Spurred on the rising gold price, Fresnillo and Endeavour Mining added 1.5% and 1.4% early Tuesday.

Trustpilot surged 15%. It expects a 2025 outturn ahead of market expectations, after the consumer feedback platform posted a swing to profit for 2024.

Qinetiq lost another 3.9% after a 21% slump on Monday. Shore Capital Markets cuts the stock to 'hold' from 'buy'.

Close Brothers slumped 13%. The merchant banking firm reported a swing to a first half loss after booking a chunky provision related to motor finance commissions.

Its pretax loss amounted to GBP103.0 million, swinging from profit of GBP88.1 million. Operating income weakened 0.3% to GBP390.0 million from GBP394.5 million.

"In light of recent developments in relation to motor finance commissions, the group has reviewed its accounting assessment of these matters. As a result, the group recognised a provision in relation to motor finance commissions of GBP165 million in the first half. This includes estimates for certain potential operational and legal costs, as well as estimates for potential remediation for affected customers," Close Brothers said.

The UK Financial Conduct Authority last week Tuesday said it is no longer planning a further update on its review into past use of motor finance discretionary commission arrangements in May.

This followed the judgement by the Court of Appeal in October, which raised the possibility of more widespread liability for the industry, and the subsequent announcement that the Supreme Court will hear an appeal against the Court of Appeal's judgement between April 1 to 3.

The Supreme Court is due to hear an appeal brought by car loan providers challenging the October ruling that sided with consumers who complained about "secret" commissions on car loans.

Over in Frankfurt, Rheinmetall added 1.3%, as defence stocks are in focus.

Lawmakers in Germany's lower house of parliament, the Bundestag, are set to vote on Tuesday on a highly debated EUR500 billion spending package, aimed at revitalizing infrastructure, advancing climate initiatives and boosting defence.

The proposal, backed by the conservative CDU/CSU bloc, the Social Democrats and the Greens, includes lifting borrowing limits for a special infrastructure and climate fund, while also removing debt restrictions for defence, civil protection, intelligence services and cybersecurity.

----------------------------

London open: FTSE rises as investors eye Fed, BoE

(Sharecast News) - London stocks rose in early trade on Tuesday, taking their cue from positive sessions in the US and Asia, as investors eyed the start of the Federal Reserve's two-day policy meeting and this week's Bank of England announcement.

At 0835 GMT, the FTSE 100 was up 0.4% at 8,712.22.

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "UK markets have continued on the front foot, with yesterday's close marking four consecutive days of gains for the FTSE 100, with another jump higher this morning.

"Positive earnings reports and growing optimism about China's economic recovery helped lead insurers and miners to the forefront in yesterday's session. This week, all eyes are on the Bank of England's upcoming interest rate decision on Thursday, with markets pricing in a 90% chance of no change as policymakers navigate the challenging task of balancing slowing growth with sticky inflation."

Before that, the Fed's two-day policy meeting kicks off on Tuesday.

Kathleen Brooks, research director at XTB, said: "We don't expect the Fed to change policy on Wednesday; but the updated economic forecasts and dot plot will be crucial for the direction of asset prices later this week."

In equity markets, Anglo American rallied after an upgrade to 'sector perform' from 'underperform' at RBC Capital Markets. Miners more generally were doing well, with Glencore and Antofagasta also among the top gainers on the FTSE 100.

Bytes Technology surged as it reported double-digit growth across all key financial metrics over the year to 28 February, with gross invoiced income topping the £2bn mark for the first time.

IT firm Computacenter made solid gains as it posted lower annual profit in line with expectations amid an uncertain macroeconomic environment and softer market conditions in the UK, offset by stronger performances in the US and Germany, particularly in the second half.

Trustpilot jumped as it lifted its full-year outlook for 2025 following a "strong" performance in 2024.

STEM-focused recruiter SThree advanced as it held on to its full-year guidance despite a weak first quarter with double-digit declines in fees for both contract and permanent positions.

On the downside, Close Brothers tanked after the merchant banking group said it swung to a hefty loss in the first half on the back of a £165m provision for motor finance commissions.

Close Brothers reported a pre-tax loss of £103m for the six months to 31 January, compared with a £88.1m profit a year earlier. The £165m motor finance provision had already been well flagged.

Market Movers

FTSE 100 (UKX) 8,712.22 0.37%

FTSE 250 (MCX) 20,108.33 0.40%

techMARK (TASX) 4,777.85 0.36%

FTSE 100 - Risers

Anglo American (AAL) 2,388.50p 1.90%

Antofagasta (ANTO) 1,924.00p 1.61%

Melrose Industries (MRO) 529.40p 1.50%

Flutter Entertainment (DI) (FLTR) 18,415.00p 1.40%

St James's Place (STJ) 1,019.00p 1.39%

BP (BP.) 437.80p 1.38%

Marks & Spencer Group (MKS) 324.90p 1.31%

Glencore (GLEN) 323.00p 1.30%

International Consolidated Airlines Group SA (CDI) (IAG) 292.40p 1.18%

Barclays (BARC) 298.30p 1.17%

FTSE 100 - Fallers

London Stock Exchange Group (LSEG) 10,920.00p -0.55%

Severn Trent (SVT) 2,439.00p -0.53%

Games Workshop Group (GAW) 14,590.00p -0.48%

British American Tobacco (BATS) 3,186.00p -0.44%

Unilever (ULVR) 4,576.00p -0.44%

National Grid (NG.) 972.40p -0.43%

United Utilities Group (UU.) 984.60p -0.40%

GSK (GSK) 1,530.00p -0.39%

Haleon (HLN) 390.90p -0.36%

SEGRO (SGRO) 704.20p -0.34%

FTSE 250 - Risers

Bytes Technology Group (BYIT) 476.20p 14.91%

Trustpilot Group (TRST) 309.50p 11.93%

Computacenter (CCC) 2,556.00p 9.51%

Softcat (SCT) 1,586.00p 5.66%

JTC (JTC) 999.00p 4.72%

Wetherspoon (J.D.) (JDW) 629.00p 3.71%

Kainos Group (KNOS) 724.00p 2.84%

Future (FUTR) 896.00p 2.69%

Moonpig Group (MOON) 210.50p 2.68%

Ferrexpo (FXPO) 81.10p 2.66%

FTSE 250 - Fallers

QinetiQ Group (QQ.) 399.40p -4.04%

International Workplace Group (IWG) 175.80p -2.77%

AO World (AO.) 95.10p -2.76%

Crest Nicholson Holdings (CRST) 149.40p -2.23%

Syncona Limited NPV (SYNC) 92.00p -2.13%

Trainline (TRN) 278.80p -0.99%

Elementis (ELM) 148.00p -0.94%

Harworth Group (HWG) 165.00p -0.90%

Travis Perkins (TPK) 572.00p -0.78%

JPMorgan Emerging Markets Inv Trust (JMG) 107.20p -0.74%

[master rsi] 18/3/2025 08:22

UPS

LST 2.90 (2.80 v 3p )

The supper results today were well ahead of forecast, and the second half was profitable and had positive cash flow. Record revenue £12M, with increased margins and cash on the bank. Low valuation £9M.
----------------- Intraday ------------------------------------------ 2 months ------------------------------- 1 year -------------------
INDICATORS

[master rsi] 18/3/2025 08:10

GGP 10.35p +0.85p - 2024 Group Mineral Resource Statement
Inaugural Greatland Telfer Mineral Resource delivers 3.2 million ounces gold and 117,000 tonnes copper, confirming Telfer mine life extension potential

Total Group Mineral Resources of 10.2 million ounces gold and 387,000 tonnes copper

Greatland Gold plc (AIM:GGP) (Greatland or the Company), is pleased to provide this 2024 Group Mineral Resource Estimate, which includes Greatland's inaugural mineral resource estimate (MRE) for the Telfer gold-copper mine (Telfer).

Highlights
§ Inaugural Greatland Telfer MRE as at 31 December 2024:

‒ 154Mt @ 0.64g/t Au and 0.08% Cu for 3.2Moz Au and 117kt Cu, comprising:

§ West Dome Open Pit: 115.6Mt @ 0.55g/t Au and 0.05% Cu for 2.1Moz Au and 61kt Cu

§ Main Dome Underground: 7.9Mt @ 2.62g/t Au and 0.51% Cu for 0.7Moz Au and 40kt Cu

§ Stockpiles: 30.6Mt @ 0.45g/t Au and 0.05% Cu for 0.4Moz Au and 16kt Cu

‒ 46% of contained gold comprises Measured or Indicated; 1.4Moz Au and 62kt Cu

§ Group Mineral Resources (including Havieron) increases by >40%, with 285Mt @ 1.11g/t Au and 0.14% Cu for 10.2Moz Au and 387kt Cu, including:

‒ Measured: 10.3Mt @ 0.68g/t Au and 0.07% Cu for 0.2Moz Au and 7kt Cu

‒ Indicated: 104.7Mt @ 1.60g/t Au and 0.21% Cu for 5.4Moz Au and 221kt Cu

‒ Inferred: 170.0Mt @ 0.84g/t Au and 0.09% Cu for 4.6Moz Au and 159kt Cu

55% of contained gold comprises Measured or Indicated; 5.6Moz Au and 227kt Cu

§ Inaugural Greatland Telfer MRE delivered within just 15 weeks from completion of Greatland's acquisition of Telfer.

§ Telfer MRE based on a gold price of A$3,450/oz (West Dome Open Pit and Stockpiles) and A$3,150/oz (Main Dome Underground), relative to current spot gold price of approximately A$4,700/oz.

§ Key activities and priorities at Telfer going forward:

‒ The 2024 Telfer MRE will form the basis of Greatland's inaugural Telfer Ore Reserve, targeted for the June 2025 quarter.

‒ Additional drill capacity has been mobilised to site, targeting high priority infill targets (conversion of Inferred Resources to Indicated) and extension targets (Resource growth) identified during this Telfer MRE process. There are currently four drill rigs operating at site (two each within the open pit and underground respectively) with a further two drill rigs mobilising in the June 2025 quarter.

‒ Progressing the exciting new West Dome Underground Project, which recently delivered exceptional drilling results including 14.3m @ 9.6g/t and 8.57% Cu and 59.0m @ 2.83g/t Au and 0.71% Cu (refer to Greatland's announcement on 20 February 2025 titled 'West Dome Underground Project').

‒ Due to the scale of the Telfer deposit and the number of areas to review, this 2024 Telfer MRE focused on the active mining areas, namely the West Dome Open Pit and the Main Dome Underground areas. Greatland will continue to evaluate the currently unclassified mineralisation including the Main Dome Open Pit, the Main Dome Underground's Vertical Stockwork Corridor (VSC) and Eastern Stockwork Corridor (ESC), as well as several satellite deposits near Telfer, for potential to incorporate into future Telfer Mineral Resource updates.

[master rsi] 18/3/2025 08:03

FTSE
On the up with 27 points

[master rsi] 17/3/2025 23:40

Abingdon Health announces European launch for Salistick

Abingdon Health PLC - London-based developer of rapid-flow diagnostic tests - Says saliva-based pregnancy test Salistick to be launched in various key European territories including Austria, Poland and Germany. Salistick is based on technology by Jerusalem-based saliva diagnostics firm Salignostics, with which Abingdon has extended its distribution agreement. Abingdon says it previously successfully launched Salistick in the UK, and that the agreement for the German market is on an exclusive basis. Abingdon and distribution partner NeutraPharma expect to launch own-brand Salistick with various "major German retailers" in the second quarter of this calendar year. Says it has received an initial purchase order for 70,000 tests with further orders expected during 2025 on a quarterly basis.

Abingdon Chief Executive Officer Chris Yates comments: "We are incredibly proud and excited to be launching Salistick, the first saliva pregnancy test, in Germany and other European territories following on from our successful commercial roll-out in the UK. This exciting innovation offers the opportunity to test for pregnancy anytime, anywhere. We are delighted to extend our partnerships with Salignostics and NeutraPharma and we look forward to continuing to work with them to bring further innovative self-test products to market."

[master rsi] 17/3/2025 23:18

US stocks rally as investors weigh economic data, Trump policies

U.S. stocks gained for a second straight session on Monday as investors sought bargains after the Nasdaq and S&P 500's four-week tumble and assessed the latest economic data to gauge the impact of the Trump administration's policies.

Retail sales rebounded marginally in February, but fell short of expectations, reflecting the increasing uncertainty over tariffs and large-scale firing of federal government employees. A separate report showed March factory activity in New York State plummeted the most in nearly two years.

"The only signs of a bounceback in spending from January's weather-induced slump, and stocking up ahead of tariffs, was in online spending," said Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin.

"Sentiment is often a horrible predictor of spending, but the good vibes that have propped up spending are now a distant memory."

The Dow Jones Industrial Average rose 353.44 points, or 0.85%, to 41,841.63,
the S&P 500 gained 36.18 points, or 0.64%, to 5,675.12
and the Nasdaq Composite gained 54.58 points, or 0.31%, to 17,808.66.

[master rsi] 17/3/2025 22:04

MARKET REPORT
LONDON MARKET CLOSE: European stocks up despite weak US retail sales

(Alliance News) - The FTSE 100 extended its winning run to four despite soft US retail sales figures and warnings of lower domestic economic growth than expected.

The FTSE 100 index closed up 47.96 points, 0.6%, at 8,680.29. The FTSE 250 ended up 32.32 points, 0.2%, at 20,027.91, and the AIM All-Share closed up 1.22 points, 0.2%, at 688.96.

The Cboe UK 100 ended up 0.6% at 867.52, the Cboe UK 250 closed flat at 17,426.68, and the Cboe Small Companies ended up 0.3% at 15,608.13.

In European equities on Monday, the CAC 40 in Paris ended up 0.6% and the DAX 40 in Frankfurt closed up 0.7%

Market focus this week will be on a slew of central banking decisions, with the Federal Reserve, Bank of England, Bank of Japan and Swiss National Bank among those announcing interest rate calls.

The Bank of England's decision on Thursday comes as economic projections for the UK were lowered.

The OECD trimmed its UK GDP growth estimate for 2025 to 1.4% from 1.7%. It expects UK growth will then slow to 1.2% in 2026, down from 1.3% before.

The downgrade comes ahead of Chancellor Rachel Reeves Spring Statement on March 26, when official forecasts are expected to show an even weaker GDP outlook.

On Thursday, Barclays expects the Monetary Policy Committee to hold bank rate at 4.5%, before a cut in May.

Stocks in New York were mixed at the London equities close, with the DJIA up 0.5%, the S&P 500 index up 0.1%, but the Nasdaq Composite down 0.5%.

US retail sales edged up in February, recovering slightly from a decline in January.

US advance monthly retail and food services sales rose 0.2% in February to USD722.7 billion from USD721.3 billion in January. February's 0.2% sales increase fell short of the FXStreet-cited market consensus of a 0.7% rise.

Revised data also showed that January's retail sales decline was steeper than previously estimated, with a revised fall of 1.2% from an initial estimate of 0.9%.

Barclays noted February's "underwhelming" headline conceals a sharp rebound in the control group, which rose 1.0% month-on-month, beating the 0.3% consensus, and unwinding a downwardly revised decline of the same magnitude in January.

Capital Economics analyst Stephen Brown felt the rebound in control group sales – which feeds into the BEA's consumption estimate – is "something of a relief after the collapse in the University of Michigan consumer sentiment index revealed last week. Consumer spending is on track to slow sharply this quarter, but not by as much as we previously feared."

But Wells Fargo said the gain in control group sales "offers little consolation" as it mirrors a decline of the same magnitude in January.

"The key thing to understand in today's report is that last month's sales figures were revised sharply lower resulting in what turns out to be the worst month for retail sales since 2021. The 0.2% increase in headline retail sales for February was just a third of the 0.6% increase that had been expected. The fact that this modest bounce comes on the heels of the downward revision makes it all the more disappointing," Wells Fargo said.

The data saw the dollar fall further against European currencies, although it held firm against the yen.

The pound was quoted higher at USD1.2987 at the London equities close Monday, compared to USD1.2920 at the close on Friday. The euro stood at USD1.0922 against USD1.0879. Against the yen, the dollar was trading higher at JPY148.57 compared to JPY148.34 late Friday.

Back in London, Phoenix Group shares advanced 9.5%. It hailed a strong 2024 performance and "good progress" in the execution of a three-year strategy.

Chief Executive Officer Andy Briggs said: "We are ahead of plan from both a strategic and financial perspective, delivering operating cash generation of GBP1.4 billion two years ahead of our 2026 target. We continue to operate in the top half of our shareholder capital coverage ratio range and our strong cash generation has enabled us to repay debt whilst also investing in our business.

"Our strong performance in 2024 and the operating momentum we have built will support us in delivering our growth strategy and have led us to upgrade our cash generation and adjusted operating profit targets through to 2026. Delivery will give us the financial flexibility to reduce our leverage, while also sustaining our progressive dividend for shareholders."

Phoenix now expects operating cash generation to grow by a "mid-single digit percentage" per year going forward, after it achieved its 2026 target ahead of schedule.

Bank of America felt Phoenix addressed several of the concerns "plaguing" the stock.

"Most importantly, it will organically grow shareholders' equity from 2026 (benefitting from raised operating profit guidance) and has reiterated its progressive dividend policy. Cash generation beat expectations and guidance has been raised. Solvency is comfortable and debt leverage will reduce," it added.

Tesco and Sainsbury fell 4.1% and 1.5% on further consideration of the threat from Asda's price-cutting plans.

On Friday, the UK's two leading food retailers saw share prices tumble 8.7% and 7.8% respectively after Asda launched a turnaround plan which includes a "substantive and well-backed programme of investment in price, availability".

Analysts highlighted the threat to food retail margins and profits from a price war but stressed much depends on the success of Asda's revival.

"We do not take a complacent stance but neither, we sense, will the listed players. Irrational contagion lowering gross margin and earnings is the greatest concern, but we need to remember too that the listed players are better grocers than Asda with a broader customer set, stronger balance sheets, and a will to remain competitive too," Clive Black, retail analyst at Shore Capital said.

Qinetiq was the worst FTSE 250 performer, slumping 19%. It said tough trading conditions continued in its fourth-quarter, but it believes its long-term future is promising.

The defence technology firm said there were "further delays to a number of contract awards".

"In addition, recent geopolitical uncertainty has impacted our usual fourth quarter weighting to higher margin product sales from the US," it cautioned.

QinetiQ expects organic revenue growth for the financial year ending March to be around 2% at an underlying margin of 10%, including GBP25 to GBP30 million of one-off in-year charges.

In January, the firm said it expected high single digit organic revenue growth for the full-year.

In the year to March 2024, QinetiQ reported organic sales growth of 14%.

Among the best performers on AIM, CVS Group added 8.6%. RBC raised the veterinary services provider to 'outperform' from 'sector perform'.

Brent oil was quoted higher at USD71.04 a barrel at the London equities close Monday from USD70.32 late Friday. Gold was quoted higher at USD2,995.90 an ounce against USD2,988.54.

Tuesday's UK corporate calendar has half-year results from Close Brothers and full-year results from Computacenter.

The economic calendar for Tuesday has Canadian CPI at 1330 GMT, eurozone trade figures at 1000 GMT and US Industrial production data at 1315 GMT.

[master rsi] 17/3/2025 21:46

DOW

Finished 353 points higher

[master rsi] 17/3/2025 16:26

How the UPS are performing today

[master rsi] 17/3/2025 16:15

How the UPS are performing during last month