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[master rsi] 16/12/2024 14:12

EU takes UK to European court over citizens' rights post-Brexit
(Alliance News) - The EU on Monday said it was taking Britain to the European Court of Justice for infringing rules on the free movement of the bloc's citizens and their family members after Brexit.

The European Commission said it believed that "there were several shortcomings" in Britain's implementation of treaties at the end of 2020.

"The European Commission decided to refer the UK to the Court of Justice of the EU... for failure to comply with EU law on free movement of EU citizens and their family members at the end of 2020," the commission said in a statement.

The legal action comes as the Labour government elected this year has sought to "reset" relations with Brussels after years of post-Brexit rancour under previous Conservative administrations.

British Prime Minister Keir Starmer held talks with commission chief Ursula von der Leyen in Brussels in October, and this month finance minister Rachel Reeves became the first British chancellor since Brexit to attend a meeting of eurozone counterparts.

The case was initiated in May 2020, when the EU sent a letter of formal notice to Britain complaining that national legislation limited the scope of beneficiaries of EU free movement law.

Despite exchanges with London, the commission said that "several elements of the grievances remain unaddressed including on the rights of workers and the rights of extended family members" – warranting legal action.

Britain formally left the EU on January 31, 2020.

But under the "Withdrawal Agreement", EU citizens and their family members who moved to Britain before the end of 2020 were granted broadly the same rights they had before Brexit.

[master rsi] 16/12/2024 13:44

QED 4.59p (0.55p / 13.61%%)Quadrise inks trial agreement with Panama's Sparkle Energy

(Sharecast News) - Quadrise has entered into a material transfer and trial agreement with Sparkle Power, a thermal power producer based in Colón, Panama, it announced on Monday.

The AIM-traded firm said that under the agreement, it would supply and install a five-tonne-per-hour multifuel manufacturing unit at Sparkle's 50MW El Giral power plant.

It said the unit would produce 'MSAR' and 'bioMSAR' fuels for a week-long trial on a MAN four-stroke diesel engine, which would generate electricity for the Panama grid.

The move would be Quadrise's first trial on the engine type, broadening its scope in decarbonising energy-intensive sectors.

Quadrise said the trial would be conducted in three phases - a proof-of-concept test, an emissions test, and a feasibility study assessing the technical and economic potential for a commercial rollout.

If successful, the two companies planned to collaborate on a roadmap for replacing fuel oil with Quadrise's MSAR and bioMSAR fuels at the site, aiming to reduce both costs and emissions.

The agreement would span six months, after which Sparkle would decide on the next steps.

Should the project not progress to a commercial stage, Quadrise said it would remove its trial equipment at its own cost.

Miles said it was also a "great opportunity" to gain experience with a MAN Energy four-stroke diesel engine.

[master rsi] 16/12/2024 12:34

How the UPS are performing during last month

[master rsi] 16/12/2024 12:01

How the UPS are performing today

[master rsi] 16/12/2024 11:37

SMALL-CAP WINNERS & LOSERS: Saga starts two-decade deal with Ageas
SMALL-CAP - WINNERS

Saga PLC, up 9.1% at 134.8 pence, 12-month range 99.3p-156p. The Kent, England-based provider of services to people aged 50 and over announces a new long-term agreement between its insurance broking business Saga Services Ltd and wholly-owned UK subsidiaries of Ageas SA/NV, establishing a "20-year partnership for motor and home insurance". Ageas will buy Acromas Insurance Co Ltd, Saga's insurance underwriting business, for base consideration of GBP65.0 million and additional consideration of GBP2.5 million, with completion expected in the second quarter of 2025. Saga says the partnership builds on the firms' "existing successful relationship" and "will combine the strength of the Saga brand, Saga's marketing skills and customer base and Ageas's extensive and growing UK insurance operations". SSL is owed GBP80.0 million upfront in two tranches, then contingent consideration of up to GBP30.0 million in 2026 and again in 2032, subject to "certain policy volume and profitability targets being met and the satisfaction of certain conditions". SSL also will receive commission payments based on a percentage of all gross written premiums generated over the partnership's duration.

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TT Electronics PLC, up 2.3% at 109.5p, 12-month range 73.6p-179p. TT Electronics is a Woking, Surrey-based manufacturer of electronic components. Deutsche Bank Research raises its price target for TT shares to 150p from 135p, and maintains its 'buy' recommendation. This follows TT's announcement on Friday that its 2024 outlook is unchanged and that it "continues to have confidence" in its medium-term financial outlook, following Volex PLC's announcement that it would not make a takeover offer for TT. Volex shares are up 0.2% on Monday.

SMALL-CAP - LOSERS

Videndum PLC, down 19% at 207.5p, 12-month range 207.5p-355.5p. The London-based provider of hardware and software for broadcasters, film studios and other media content creators says it expects GBP280 million in full-year revenue, adding that the recovery in its markets has been "slower than expected". Anticipates a GBP25 million exceptional charge against its adjusted continuing operating profit. Says however that lending banks remain supportive of the business and that it is "seeing some signs of gradual improvement" in the markets, which it expects to benefit trading in the first half of 2025. Expects around GBP135 million in net debt at the year's end, including about GBP30 million in lease liabilities. Lending banks have amended its December covenants to an interest cover of at least 1.25 times Ebitda and leverage of at least 5.5 times Ebitda. Videndum's revolving credit facility expires in August 2026, but it is "actively working" with lenders to secure an extension or refinancing during the first half. Also, Videndum says it is 80% through implementation of its GBP10 million strategic cost-saving programme, though "minimal" savings will be realised from this for the current year.

[master rsi] 16/12/2024 10:59

ARB 6.15p +0.40p

Moving ahead helped by BTC-Bitcoin record rise last night

[master rsi] 16/12/2024 10:36

UPS

VTU 60.55p ( 60.30 v 60.80p )

It looks undervalued at this price and today was a marked-down from the start. The company has a buyback and does so from time to time.
--------------- Intraday ----------------------------------- 2 months --------------------------------------- 1 year ---------------
INDICATORS

[master rsi] 16/12/2024 10:25

UK manufacturing output contracts as employers cut back hard on hiring
(Alliance News) - UK manufacturing activity declined this month, as employment fell at the fastest rate since 2009 if the pandemic is excluded, purchasing managers' index survey results from S&P Global showed on Monday.

The flash UK composite output index remained unchanged at 50.5 points in December, as improved service sector growth was offset by faster factory sector decline.

The services business activity index improved to 51.4 points in December from 50.4 in November.

However, S&P Global said: "December data indicated a fall in total staffing numbers for the third month in a row. Moreover, the rate of job shedding across the private sector economy was the fastest for almost four years. Service providers recorded a particularly steep decline in employment at the end of 2024, which was mainly linked to the non-replacement of voluntary leavers in response to rising employment costs."

It added: "Average prices charged by private sector firms meanwhile increased at the steepest pace for nine months, led by a robust and accelerated rise in the service economy. Survey respondents commented on the need to alleviate pressure on margins from higher salary payments, as well as general business overheads and greater prices paid for fuel and raw materials."

The flash UK manufacturing output index worsened to 45.7 points in December from 48.3 in November. The manufacturing PMI deteriorated to 47.3 points from 48.0. Being below 50 points, all of the factory-sector readings indicate business contraction.

Chris Williamson, chief business economist at S&P Global Market Intelligence said: "Firms are responding to the increase in national insurance contributions and new regulations around staffing with a marked pull-back in hiring, causing employment to fall in December at the fastest rate since the global financial crisis in 2009 if the pandemic is excluded."

Also on Monday, S&P Global data showed UK consumer confidence deteriorated in December.

The consumer sentiment index fell to 46.6 points in December from 46.9 in November.

On Sunday, PA reported that business confidence among Britain's manufacturers has fallen at the sharpest rate since the start of the pandemic, citing new research.

A survey of over 300 companies found that escalating costs have affected their outlook on the economy.

Almost three quarters of manufacturers said costs increased by up to a fifth in the last year, while around one in 12 had seen their costs increase by up to a half.

The composite PMI is compiled by S&P Global from responses to questionnaires sent to survey panels of around 650 manufacturers and 650 service providers in the UK. The responses were collected between December 5 and 12. Final December data will be published on January 2 for manufacturing and on January 5 for services and composite indicators.

[master rsi] 16/12/2024 10:03

FTC 77.50p (+5.50 / 7.64%%) Filtronic expects to report 'strong set of results' for H1

(Sharecast News) - Radiofrequency components manufacturer Filtronic said on Monday that it expects to report "a strong set of results" for the six months ended 30 November, with significant growth in both revenue and profits.

Filtronic said customer demand had remained "robust", with the second half benefitting from the pull-forward of customer orders.

Consequently, the AIM-listed group now expects to deliver "stronger results" for the full year than current market expectations.

Chief executive Nat Edington said: "We are delighted with the continued momentum that we have achieved and look forward to focussing on delivering these increased expectations over the remainder of the year."

[master rsi] 16/12/2024 09:16

Kretinsky's Royal Mail takeover gets the green light

(Sharecast News) - Czech billionaire Daniel Kretinsky's £3.6bn takeover of Royal Mail has reportedly been approved by the government.

Following meetings with the Communication Workers Union in recent weeks, a deal is expected to be announced on Monday morning, the BBC said.

The deal had been under scrutiny under the National Security and Investment Act as Royal Mail's operations are considered vital national infrastructure.

Kretinsky has already offered several guarantees in a bid to secure the deal, including promises to maintain the "one price goes anywhere" universal service and not to raid the pension surplus.

He has also said he will keep the brand name and Royal Mail's headquarters and tax residency in the UK for the next five years and respect union demands for no compulsory redundancies to take place until 2025.

The government will retain the right to approve any major changes to Royal Mail's ownership, HQ location and tax residency in the future.

[master rsi] 16/12/2024 08:54

UK PM Starmer visits Norway as UK to launch green energy partnership
Alliance News) - Keir Starmer is visiting Norway to announce plans for a green energy deal with the country before attending a defence summit in Estonia on a two-day trip to Northern Europe.

The UK prime minister will travel to a cross-border carbon capture site and meet his Norwegian counterpart Jonas Gahr Store to discuss the agreement, which Number 10 said both leaders aim to sign in spring 2025.

They are expected to hold "sky-lateral" talks while they fly to Tallinn later on Monday for a gathering of the Joint Expeditionary Force, JEF, a military coalition of several European countries.

Starmer said the energy partnership with Norway, which has a border with Russia, would help to boost growth and protect against spikes in international energy prices such as those which followed President Vladimir Putin's invasion of Ukraine.

"It will harness the UK's unique potential to become a world leader in carbon capture – from the North Sea to the coastal south – reigniting industrial heartlands and delivering on our plan for change," he said.

"Our partnership with Norway will make the UK more energy secure, ensuring we are never again exposed to international energy price spikes and the whims of dictators like Putin."

The visit comes after the first projects in Britain to take carbon out of the atmosphere were given the go-ahead in the north-east of England, with BP and Norwegian energy firm Equinor confirming investments on Tuesday.

Floating offshore wind farm Green Volt, which is run by Norwegian-based firm Vargronn and Scottish-based company Flotation Energy, has also announced front-end engineering and design contracts to help the project.

It is estimated the plant will deliver power to about one million homes when it starts operating in 2028.

Gahr Store said: "We need co-operation, knowledge and innovation to better equip us to face the future.

"The partnership with the UK will be important to facilitate more green jobs both in Norway and the UK, and for advancing the green transition.

"We work closely with the UK in a wide range of areas. We have co-operated in the field of carbon capture and storage for more than 20 years, and further strengthening our co-operation with the UK will help us to cut emissions and create green jobs," the Norwegian premier added.

"It is important to show our partners what Norway can bring to the table in our joint efforts to achieve our common goals."

Downing Street said the two countries have also committed to work together to identify challenges to carbon storage projects in the North Sea and to "develop a bilateral agreement or arrangement on cross-border transport of CO2 under the London Protocol".

The whistlestop tour will see the prime minister join leaders from the Netherlands, Latvia, Sweden, Denmark, Iceland, Finland and Lithuania to discuss JEF's activities in a changing security landscape.

Announcing its formation in 2014, the UK government described the alliance as "a pool of high-readiness, adaptable forces that is designed to enhance the UK's ability to respond rapidly, anywhere in the world, with like-minded allies."

The group has said that Russia's invasion of Ukraine has increased its importance in "enabl(ing) regional security" for its members.

[master rsi] 16/12/2024 08:29

FTSE

On the up and down currently 2 points lower

[master rsi] 16/12/2024 00:02

Bambo

We are taking the middle price, not "UT"

IPO 52.80p - Bid 52.70 Ask: 52.90

To let you know the CROOKS Qube has a short of 0.51%
( Qube Research & Technologies Limited 0.51% +0.02% 3 Dec 2024

[master rsi] 15/12/2024 23:57

VOLUME AND RISING

[master rsi] 15/12/2024 23:53

VOLUME AND RISING

[master rsi] 15/12/2024 23:12

Sunday newspaper round-up: Bank of England, Water companies, Nationwide

(Sharecast News) - Hopes that the Bank of England will cut interest rates again just before Christmas have been all but expunged due to concerns that Labour's tax-and-spend Budget will stoke inflation. Traders are assigning a chance of just one-in-eight that rates will be cut when policymakers at Bank meet this week. In particular, rate-setters worry that the £25bn rise in companies' National Insurance contributions will be passed onto customers. - The Financial Mail on Sunday

Water companies need to spend more to help out vulnerable customers, consumer groups argue. The warning comes ahead of a steep rise in bills expected to be announced during the coming week. Ofwat is expected to unveil the increase for the next five years, starting from April, on Friday. The Consumer Council for Water is arguing that Ofwat should make companies boost their support. - Guardian

Nationwide has had to inject £650m into Clydesdale Bank, owned by Virgin Money, in order to maintain its financial strength. It follows the £2.8bn takeover of Virgin Money which will turn it into Britain's second-largest savings and loans group. The purchase saw Nationwide book a £2.8bn gain, leading to criticism that Virgin Money was sold on the cheap. However, it has now become known that it had to funnel £650m into Clydesdale Bank in order to allow Clydesdale's accounting methods to be brought into line with its own. - Financial Mail on Sunday

[master rsi] 15/12/2024 22:48

BTC-Bitcoin,

Is on the rise again with a new BREAKOUT to $103,450 at one time

[master rsi] 15/12/2024 22:16

UK becomes first European nation to join CPTPP trade bloc
(Alliance News) - The UK will on Sunday become the first European nation officially to join an Indo-Pacific trade bloc, in a move that will "boost trade and create opportunities" for British firms abroad.

Britain will become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Sunday, following years of procedure.

The UK will become the 12th country to join the trade agreement, having first put in an application in early 2021, and officials hope it could add billions to the economy.

The UK will enter into the agreement with the eight of the bloc's 11 existing members who first ratified the accession on Sunday.

These countries are Japan, Singapore, Chile, New Zealand, Vietnam, Peru, Malaysia and Brunei.

It will then on Christmas Eve enter into force with Australia, who later ratified the deal.

Canada and Mexico are yet to finally rubber-stamp the UK's membership, but it is understood that officials expect them to do so at some point in the future.

Officials hope the move could boost the economy by as much as GBP2 billion a year compared with levels of GDP projected for 2040 without the CPTPP deal.

It is expected that the CPTPP will get larger in the coming years, and last month it was announce that Costa Rica would be the next country to work through the process of joining.

Business Secretary Jonathan Reynolds said: "Britain is uniquely placed to take advantage of exciting new markets, while strengthening existing relationships.

"Today's news is further proof that the UK is a wonderful place to do business, with an open, outward-looking economy driving the growth people can feel in their communities.

"Agreements like this boost trade and create opportunities for UK companies abroad. This is a proven way to support jobs, raise wages and drive investment across the country, which is key to this government's mission to deliver economic growth.

"Our trade strategy, published next year, will finally put in place a long-term, strategic plan for international trade that helps businesses and consumers and, ultimately, grows the economy."

Conservative leader Kemi Badenoch, who was trade secretary when the UK formally agreed to join the bloc in 2023, said: "The Conservatives delivered CPTPP – a trade deal that brings enormous benefits to everyone from British farmers to fintech and small businesses to the largest manufacturers.

"The deal places the UK in a bloc with the fastest-growing economies in the world and was a key Brexit benefit to add to our EU trade deal.

"However, joining a trade bloc is only the start. Labour spent the last parliament mocking our CPTPP negotiations, and they now have a responsibility to ensure that UK companies can make the most of this landmark deal."

[master rsi] 15/12/2024 21:46

SBTX 18.75p +1.50p (8.70%)

We had a large spike late last Friday and with that the share price has gone to the Top Band of the Bolinger Band.

SP is on an uptrend, but from time to time, there is profit-taking due to investors taking profits. Also, they see Indicators being "short term" in Overbought territory ( BB and Stochastic ). Maybe a bit of consolidation could be on the way.

[master rsi] 15/12/2024 21:28

SUNDAY PAPERS

Share tips, comment and bids

Mail on Sunday (Midas share tips update): Set a course for marine innovator SRT - our tip is up 10%.

Mail on Sunday (Midas share tips update): Video games firm Winking Studios has its sights set on a profits boom.

Mail on Sunday: Nationwide has had to pump £650m into Virgin Money's Clydesdale Bank unit to maintain the lender's financial strength.

The Sunday Times: The media baron Lord (Evgeny) Lebedev is exploring a sale of his loss-making London television station, London Live, ten years after he launched it with much fanfare.

The Sunday Telegraph (Comment): America’s corporate elite step up security after healthcare chief’s daylight shooting.

The Observer (Comment): Why does McKinsey still get hired?

The Sunday Telegraph (Comment): Britain’s cash-starved military no longer has the capacity to fight for King and country.

The Sunday Telegraph (Comment): America’s corporate elite step up security after healthcare chief’s daylight shooting.

The Sunday Times (Comment): Drones, honeytraps and trespassing: the murky world of corporate espionage.

The Sunday Times (Comment): What will the Omnicom and Interpublic merger mean for the Mad Men?

The Sunday Times (Comment): How Google turned Jaguars into self-driving taxis, but General Motors gave up.

[master rsi] 15/12/2024 20:32

SUNDAY PAPERS

Top stories

The Sunday Times: Newcastle airport is going up for sale for as much as £1bn and Saudi investors are tipped as the front-running bidders in the latest of a frenzy of multibillion-pound UK airport takeovers.

The Sunday Telegraph: Troubled online fashion retailer Boohoo has been dealt a blow after a prospective buyer pulled out of talks to acquire its London office and help shore up its balance sheet.

[bamboo2] 15/12/2024 11:51

UPS

IPO Fridays close 52.7p

Currently on second tranche of buyback for 2024.
Third £15m buyback just announced.
Has realised large pot of cash by selling constituent Featurespace to VISA.