Upstream Share Discussion Threads

[master rsi] 22/11/2024 10:34

RTC Group trades in line with 'positive expectations'

(Sharecast News) - Recruitment business RTC Group said on Friday that it has traded in line with "positive expectations" about its short, medium and long-term prospects since June.

RTC Group stated it was "confident" of its trading prospects for the current financial year and expects to announce audited results for the year ending 31 December on or around 24 March 2025.

Chairman Andy Pendlebury said: "Economic conditions across the UK remain challenging, driving both fierce competition and revenue concerns, as evidenced by a number of earning downgrades across the sector. Despite this, we continue to drive growth through our focus on strong sector positioning, our people development, our systems enhancement, and our attention to excellent service and quality which continues to provide valuable differentiation for us with our clients.

"Whilst the recent budget will no doubt intensify both cost pressures and competition across all sectors of the economy during 2025, we remain confident in our ability to capture further value for our shareholders as the government's commitment to investment in large-scale infrastructure projects begins to unfold."

As of 1000 GMT, RTC shares were up 7.69% at 105.0p.

[master rsi] 22/11/2024 10:16

DFS hails improved trading, appoints interim CFO

(Sharecast News) - DFS Furniture hailed an improvement in trading on Friday as it announced the appointment of an interim chief financial officer.

In its full-year results in September, the furniture retailer had pointed to an improvement in trading in the final quarter of the period, with year-on-year growth in its order intake.

"This trend has continued into the current financial year, with order intake remaining in growth over the first 20 weeks of the period, in line with our expectations," it said.

In addition, DFS said the progress made on reducing its cost base through FY24 has continued through the current financial year to date.

DFS also announced that Marie Wall will be joining the business as interim CFO on 2 December, reporting into chief executive officer Tim Stacey. Wall has previously held senior finance roles at Imperial Brands, Wolseley and Dixons Carphone.

The retailer confirmed that John Fallon will step down on 22 November and will leave the business on 17 January 2025, "ensuring a thorough handover to Marie".

Chairman Steve Johnson said: "Marie's experience and skills make her ideally suited to take on the role of Interim CFO, I am delighted Marie has agreed to join DFS at this key moment for the group."

[master rsi] 22/11/2024 09:40

MARKET REPORT
LONDON MARKET OPEN: Stocks shake off poor data and Putin threat

(Alliance News) - Blue-chips London opened on the up on Friday, shaking off poor UK retail sales data, while counterparts in Frankfurt climbed despite a pair of tepid readings of the German economy.

The FTSE 100 index added 55.41 points, 0.7%, at 8,204.68. The FTSE 250 rose 120.58 points, 0.6%, at 20,470.50, and the AIM All-Share rose 3.92 points, 0.5%, at 729.74.

The Cboe UK 100 was up 0.6% at 824.82, the Cboe UK 250 rose 0.9% at 17,960.33, and the Cboe Small Companies was flat at 17,960.33.

The CAC 40 in Paris added 0.3%, and the DAX 40 in Frankfurt advanced 0.6%.

According to the Office for National Statistics, UK retail sales volumes rose by 2.4% on-year in October, easing from a 3.2% climb in September and falling short of the FXStreet cited consensus of 3.4%.

September's growth was downwardly revised from an initially reported 3.9% rise.

Retail sales fell 0.7% in October from September. They had edged up 0.1% in September from August, downwardly revised from an 0.3% climb.

The latest data undershot consensus. A lesser decline of 0.3% was expected, according to FXStreet.

"Non-food stores sales volumes fell on the month as retailers reported that budget uncertainty affected sales," the ONS said.

AJ Bell analyst Danni Hewson commented: "Retailers had already sounded the alarm, expressing concern that pre-Budget jitters were denting consumer confidence and that would-be shoppers were putting off spending decisions just in case their finances took an unexpected hit."

Consumer confidence picked up this month, however, according to GfK's long-running tracker. Giving consumers some food for thought, however, Ofgem has confirmed UK household energy bills are to rise again from January 1 as it announced a 1.2% increase to its price cap.

The regulator said the increase would see the typical bill for a household in England, Scotland and Wales increasing to GBP1,738-a-year, from GBP1,717, or by around GBP1.75-a-month.

The pound was quoted at USD1.2565 early Friday, down from USD1.2605 at the time of the London equities close on Thursday. The euro stood at USD1.0459, down from USD1.0491. Against the yen, the dollar was trading at JPY154.53, flat from JPY154.52.

The euro fell to its lowest level since October 2023. The pound traded at its weakest level since May, falling as low as USD1.2552.

German economic growth was more tepid than expected in the third-quarter, Destatis reported on Friday.

The German economy edged up just 0.1% quarter-on-quarter in the three months to September 30, averting a summer recession. Growth was downwardly revised from an initially reported 0.2% rise.

The German economy had shrunk 0.3% in the second-quarter, after rising 0.2% in the first.

Year-on-year, German gross domestic product was up 0.1% in the third-quarter, in line with the growth seen in the second-quarter. However, on a calendar-adjusted basis, GDP shrunk 0.3% on-year in the third-quarter.

"There was one working day more than in the same period a year earlier," Destatis explained.

The data on Friday will do little to calm growth fears for Europe's largest economy.

Analysts at Dutch bank ING commented: "Today's headline number shouldn't be taken as a sign of a rebound, but rather as a confirmation that the German economy is stuck in stagnation and is now hardly any larger than at the start of the pandemic more than four years ago."

What's more, the German private sector sank deeper into the doldrums in November, in yet another tepid reading of Europe's largest economy on Friday.

The latest Hamburg Commercial Bank's flash composite purchasing managers' index ell to 47.3 points in November, from October's final tally of 48.6. The latest reading slipped further below the 50 point neutral mark, suggesting the pace of decline picked up. The preliminary PMI reading represented a nine-month-low, survey publisher S&P Global noted.

The composite reading is calculated using manufacturing and services data. The services PMI fell below growth territory for the first time since February, landing at 49.4 points in the Friday flash, from the final 51.6 in October.

The manufacturing PMI remained in negative territory, but edged up to 43.2 points from 43.0. It was a four-month-high for the PMI.

ING analysts added: "A combination of factors are contributing to the strong dollar, and with geopolitical risks on the rise, we believe it may be risky to try and pick a bottom in EUR/USD just yet.

Incidentally, PMIs may be decent for the eurozone but grim for Germany, which could be enough for markets to price in more ECB easing."

Brent oil was quoted at USD74.24 a barrel early Friday, as geopolitical tensions continue to simmer, rising from USD73.52 at the time of the London equities close on Thursday. Gold rose to USD2,698.53 an ounce from USD2,665.01.

Russian President Vladimir Putin threatened to strike the UK with a new ballistic missile after using the weapon to hit a target in Ukraine.

Downing Street condemned Putin for further escalating the conflict by using a ballistic missile with a range of "several thousand kilometres" against the city of Dnipro.

Putin suggested the missile could be used to hit Kyiv's allies who have given Ukraine permission to use Western-supplied weapons to hit targets within Russia.

The UK is believed to have allowed its Storm Shadow missiles to be used by Ukrainian forces within the Kursk region of Russia, while the US has given permission for its ATACMS weapons to be fired at targets in Putin's country.

In London, the bulk of the FTSE 100 traded higher, with gold miner Endeavour leading the way with a 2.5% on a rising precious metal price.

Elsewhere, Games Workshop topped the FTSE 250 with a 14% surge.

The miniature wargames maker said trading over the past two months has been "ahead of expectations".

It expects revenue in the six months to December 1 to rise 10% to GBP260 million from GBP235.6 million a year prior. Pretax profit of GBP120 million is expected, a rise of 25% from GBP96.1 million. Games Workshop releases half-year results on January 14.

Elsewhere, National World jumped 28% to 19.25 pence, on a simmering takeover saga. The multimedia company, which owns the Yorkshire Post, is now worth GBP51.5 million.

Its shareholder Media Concierge said it submitted a takeover proposal worth GBP56.2 million, 21p per share, at the end of last month. The deal implies an enterprise value of approximately GBP43.2 million.

But National World has not given the suitor any "substantive engagement to date" and Media Concierge urged shareholders to push it to "engage constructively".

"Media Concierge believes that the possible offer provides a highly attractive and deliverable opportunity for National World shareholders to realise their investment at a substantial premium in cash," it said, noting it was a 40% premium to the Thursday closing price.

The offer is for shares not already owned by Media Concierge, affiliates and firms acting in concert. It means the bid is for a 72% chunk of National World.

In New York on Thursday, the Dow Jones Industrial Average rose 1.1%, the S&P 500 added 0.5% and the Nasdaq Composite closed flat.

In China on Friday, the Shanghai Composite slumped 3.1%. The Hang Seng in Hong Kong fell 1.9%. Tokyo's Nikkei 225 added 0.7%, while Sydney's S&P/ASX 200 rose 0.9%.

[master rsi] 22/11/2024 09:18

European stocks rise as Russia-Ukraine conflict escalates

European equity markets opened higher on Friday, with investors closely monitoring the intensifying conflict between Russia and Ukraine.

At 3:23 ET (8:23 GMT), Germany’s DAX had risen 0.6%, France’s CAC 40 had increased by 0.5%, and the UK’s FTSE 100 had gained 0.7%.

Russia escalates conflict with hypersonic missile strike on Dnipro
On Thursday, Russian President Vladimir Putin reacted to the U.S. and U.K.'s decision to enable Kyiv to target Russian territory with Western weaponry by launching a hypersonic ballistic missile at the Ukrainian city of Dnipro.

This strike represents escalation in the nearly three-year-long conflict and follows recent indications that Russia has reduced its threshold for deploying nuclear weapons.

Germany’s Q3 economic growth revised down as exports fall
Germany's economy expanded at a slower pace than initially estimated in the third quarter, according to data released by the statistics office on Friday.

The country’s gross domestic product (GDP) grew by 0.1% compared to the previous quarter, a slight downward revision from the earlier estimate of 0.2% growth. .....

[master rsi] 22/11/2024 08:59

Looming UK stamp duty shift "could hold back" 2025 house price growth

(Alliance News) - Stamp duty changes next year are likely to keep a lid on UK house price growth and reinforce a North-South divide, a property website predicts.

From April 2025, stamp duty rates in England and Northern Ireland will revert to previous levels, with the "nil rate" band for first-time buyers reducing from GBP425,000 to GBP300,000.

Zoopla predicted that higher buying costs will be reflected in what home buyers are prepared to pay in 2025, leading to a drag on house price growth.

Its analysis indicates that the extra costs for first-time buyers will predominately fall on those in southern England, where the price of a home is often higher.

The prediction was made at a time when some mortgage rates have been ticking up, amid expectations that cuts to the Bank of England base rate could be slower than previously anticipated.

Richard Donnell, executive director at Zoopla said: "The growing complexity of (stamp duty) makes assessing its impact on market activity and pricing increasingly difficult."

He added: "Faced with this higher cost, home buyers will want it reflected in the price they pay for their home and will seek to make offers, keeping prices rises in check over 2025 and into 2026.

"These changes are likely to take 0.5 to 1% off house price growth in 2025, hitting buyers in higher value markets."

[master rsi] 22/11/2024 08:44

UK retail sales shy of forecast amid pre-budget uncertainty

(Alliance News) - UK retail sales growth fell short of expectations last month, numbers on Friday showed, as non-food sales were hurt by pre-budget uncertainty.

According to the Office for National Statistics, UK retail sales volumes rose by 2.4% on-year in October, easing from a 3.2% climb in September and falling short of the FXStreet cited consensus of 3.4%.

September's growth was downwardly revised from an initially reported 3.9% rise.

Retail sales fell 0.7% in October from September. They had edged up 0.1% in September from August, downwardly revised from an 0.3% climb.

The latest data undershot consensus. A lesser decline of 0.3% was expected, according to FXStreet.

"Non-food stores sales volumes fell on the month as retailers reported that budget uncertainty affected sales," the ONS said.

"When compared with their pre-coronavirus pandemic level in February 2020, volumes were down by

[master rsi] 22/11/2024 08:29

UK government set to regulate crypto and stablecoins by next year
Invezz.com - The UK government, under Prime Minister Keir Starmer, has confirmed plans to move forward with comprehensive cryptocurrency regulations after delays caused by the July general elections.

With a fast-growing market and increasing interest in digital assets, the new regulations aim to address key gaps in oversight.

According to a Bloomberg report, economic Secretary Tulip Siddiq announced that stablecoins, digital currencies pegged to fiat money, will not fall under the existing Payment Services Act.

Instead, they will be included in a fresh regulatory framework, set to be drafted in early 2025.

This move places the UK on a divergent path from the European Union, which implemented its own cryptocurrency regulations earlier this year.

The UK’s approach is seen as a critical step to support its domestic crypto industry while ensuring financial stability and consumer protection.

Why the UK is crafting specific regulations for stablecoins
Stablecoins, which are increasingly used for payments and remittances, represent a unique challenge for regulators.

Unlike traditional cryptocurrencies like Bitcoin, stablecoins maintain a fixed value by being backed by reserves of fiat currency or other assets.

According to Siddiq, regulating these digital assets separately is more logical given their payment-centric role in the financial system.

While existing laws such as the Payment Services Act provide some oversight, they are inadequate for handling the complexities of stablecoins.

The forthcoming legislation is expected to cover licensing requirements, reserve backing, and operational standards, ensuring that issuers comply with consumer protection and financial stability norms.

EU’s head start with crypto regulations

The European Union has already implemented its Markets in Crypto-Assets (MiCA) regulations, providing a detailed framework to govern the crypto ecosystem.

MiCA focuses on consumer protections, financial stability, and anti-money laundering measures.

Along with the EU, countries like France, Switzerland, and Liechtenstein have also introduced specific laws for cryptocurrency.

These nations have gained an edge in attracting crypto businesses, thanks to clear regulatory guidance.

The UK’s delayed approach has caused some concerns within its crypto industry, which has seen other markets gain ground.

The government appears committed to leveraging its financial hub status to create regulations that foster innovation without compromising on oversight.

The rise of the UK crypto market
Despite regulatory delays, the UK has seen significant growth in its cryptocurrency market.

Around 2.5 million adults in the country, or 5% of the population, currently own digital assets.

The market size has surged to $170 billion, with trading volumes averaging $8.5 billion.

Venture capital investment has also played a key role in driving the sector’s expansion.

In 2022 alone, over $1.9 billion was invested in UK-based crypto and blockchain startups, indicating strong institutional interest in the sector.

The government’s decision to develop Central Bank Digital Currency (CBDC), commonly referred to as the “digital pound,” further highlights the importance of crypto in the UK’s financial strategy.

The Bank of England is currently in the design phase of the project, consulting with industry stakeholders to determine its feasibility and framework.

Challenges and opportunities for the UK
The lack of a clear regulatory framework has led some companies to expand operations to jurisdictions with more established laws.

[master rsi] 22/11/2024 08:18

FTSE

Opening with 53 points better

[apotheki] 22/11/2024 07:25

Hemogenyx Pharmaceuticals plc / LSE:HEMO



IRB Approval for Phase I Clinical Trial

Hemogenyx Pharmaceuticals Receives IRB Approval for Phase 1 Clinical Trial of HEMO-CAR-T (HG-CT-1)

Hemogenyx Pharmaceuticals plc (LSE: HEMO), a biopharmaceutical company developing innovative therapies and treatments for blood diseases, is pleased to announce that the Institutional Review Board (IRB) of the Company's first clinical site has granted approval to initiate a Phase I clinical trial of the Company's lead asset, HEMO-CAR-T, which has now been given the formal designation HG-CT-1, for the treatment of relapsed/refractory (R/R) acute myeloid leukemia (AML) in adults.

The proposed Phase 1 clinical trial is designed as a dose escalation study to assess the safety of HG-CT-1 in adult patients with R/R AML. Secondary clinical objectives are crucial for evaluating the broader impact of HG-CT-1 and include:
· Estimating the efficacy of HG-CT-1 based on standard clinical response criteria for AML.
· Estimating overall survival (OS) in evaluable subjects.
· Estimating progression-free survival (PFS) in evaluable subjects.
· Estimating duration of response (DoR) in evaluable subjects who achieve a clinical response.

These objectives are pivotal for assessing the overall clinical impact of HG-CT-1 on patients with R/R AML, a population with few remaining therapeutic options. This IRB approval represents a significant milestone for Hemogenyx Pharmaceuticals, enabling the Company to advance this promising therapy into clinical testing at one of the world's most prestigious cancer research institutions.

Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:
"We are excited to receive IRB approval to proceed with our Phase I clinical trial of HEMO-CAR-T. This trial is a critical step in the development of our CAR-T therapy for AML patients who have exhausted other treatment options. With this study, we aim to establish the safety profile of HG-CT-1 and gather preliminary efficacy data that could pave the way for future therapeutic development."

[apotheki] 22/11/2024 07:20

About Hemogenyx Pharmaceuticals plc

Hemogenyx Pharmaceuticals is a publicly traded company (LSE:HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx Pharmaceuticals LLC and Immugenyx LLC, located in New York City at its state-of-the-art research facility.

The Company is a clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune disease and to bring the curative power of bone marrow transplantation to a greater number of patients suffering from otherwise incurable life-threatening diseases.

Hemogenyx Pharmaceuticals is developing several distinct and complementary product candidates, as well as a platform technology that it uses as an engine for novel product development.

[apotheki] 22/11/2024 07:14

KAVANGO RESOURCES PLC / LSE:KAV



ZIM -- High-Grade Gold Opportunity at Prospect 4

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company is pleased to announce its plan to increase high-grade gold production at Prospect 4 ("Prospect 4"), at the Hillside Project ("Hillside") in Matabeleland, southern Zimbabwe.

High-grade gold mineralisation is currently being extracted by contract miners on a small-scale basis at Prospect 4 and trucked 20km to the Company's processing facility at the main Hillside Project area. Volumes are currently low and Kavango believes there is significant scope to increase high-grade gold production at Prospect 4.

To this end, Kavango has identified an experienced South African manufacturer to commence work on designing a gold production plant (the "Plant"), with the capacity to process a minimum 100 tonnes per day ("t/d") and maximum 200t/d of mineralised material.

The Plant will be designed as a modular plant so that it can be easily and cheaply relocated to other projects within Kavango's inventory, in the event that Technical Economic Assessment ("TEA") studies at Prospect 4 support the installation of a larger production plant.

Highlights

· Kavango has conducted preliminary exploration over Prospect 4. Highlights include:

o Hole SKDD001 returned 2.53m @ 29.08 grammes per tonne ("g/t") gold from 97.47m, associated with visible gold (peak grade of 212.07g/t over 0.34m) (announced >>>15th April 2024).

o Assays from 582 surface soil samples collected over 1.5km² returned a peak value of 8.21g/t, with 19 samples returning grades >0.5g/t (announced >>> 19 August 2024).

o Ongoing geological mapping has tracked increased artisanal and small-scale workings over the area, with at least 8 mineralised vein shears currently being mined. Kavango's senior geologists have observed visible gold in surface stock piles from 4 of these vein shears.

· Current high-grade gold production is carried out by small-scale miners, under contract with Kavango Mining. Production is constrained by the mining methods used, the distance by road to Kavango's processing facility at Hillside, and the Hillside processing facility's maximum production capacity of 40-50 t/d.

· To increase high-grade gold production at Prospect 4, Kavango has identified a South African manufacturer to commence work on designing the Plant.

· Further exploration drilling at Prospect 4 to commence in the New Year.

o 4 holes planned from 500m to 600m in depth to test the continuity and depth extent of visible gold bearing quartz-vein shears

o Currently more than 12 sub parallel vein sets have been identified

Ben Turney, Chief Executive of Kavango Resources, commented:

"Following our recent announcement of resource drilling at Prospect 3, we continue at a fast pace of development at the Hillside Gold Project with plans for an underground high-grade gold operation at Prospect 4.

We have high hopes for the next phase of drilling at Prospect 4. We've identified 12 sub parallel vein sets, intersected a 2.53m mineralised section grading at 29.08g/t in Hole SKDD001 and have conducted extensive surface sampling that has returned very positive results.

Once we have finished drilling at Prospect 3, we will mobilise the two rigs to Prospect 4 to conduct the next phase of exploration there. As well as assay tests, we intend to complete metallurgical test work on core samples from the next four holes. Our goal will be to use this data to guide the Technical Economic Assessment (TEA) for this project.

Given the amount of current high-grade small-scale mining at Prospect 4, we will work on the specification for a more advanced processing plant in parallel to exploration. We are confident production at Prospect 4 can sustain a minimum 100t/d plant and potentially a 200t/d plant in the near-term.

Our plan is then to use free cash flow generated through the new processing plant to pay for the TEA. If results are favourable, the final TEA for Prospect 4 could provide a blueprint for substantially higher gold production for Kavango.

We look forward to providing more updates in the New Year."

[master rsi] 21/11/2024 22:51

US close: Stocks higher following Nvidia earnings

(Sharecast News) - Wall Street stocks closed higher on Thursday as market participants thumbed over Q3 earnings from tech giant Nvidia.

At the close, the Dow Jones Industrial Average was up 1.06% at 43,870.35, while the S&P 500 advanced 0.53% to 5,948.71 and the Nasdaq Composite saw out the session 0.03% firmer at 18,972.42.

The Dow closed 461.88 points higher on Thursday, extending gains recorded in the previous session.

Thursday's primary focus was on earnings from AI-darling Nvidia, with which the chipmaker beat expectations on both the top and bottom lines with its Q3 numbers. However, Nvidia shares still headed south, principally due to sky-high expectations for the world's largest company by market capitalisation.

[master rsi] 21/11/2024 22:21

Friday preview: Global PMIs, Univeler in focus
(Sharecast News) - Markets' attention at the end of the week will be on the release of a raft of purchasing managers' surveys for manufacturing and services in the euro area, UK and US.

On home shores, S&P Global will publish its purchasing managers' indices at 0930 BST.

They will be preceded a half hour before by euro area PMIs, followed by the US PMIs at 1445 BST.

Also due out in the UK are retail sales figures for October and consultancy GfK's consumer confidence index referencing the month of November.

On the company side of things, consumer goods giant Unilever is scheduled to hold a Capital Markets Day.

According to Guillaume Delmas at UBS, the company is expected to provide further details on its journey for over the next 3-5 years.

That will include an update on progress so far on the Growth Action Plan unveiled in October 2023.

Friday 22 November

AGMs

Quadrise, Synergia Energy Ltd NPV, Caracal Gold,

Neometals Ltd Npv (Di), DFS Furniture, Europa Metals Ltd NPV (DI), Sovereign Metals Limited NPV (DI), GreenX Metals Limited NPV (DI)

FINAL DIVIDEND PAYMENT DATE

MJ Gleeson, Gabelli Merger Plus+ Trust, Smiths Group, Ricardo

INTERIM DIVIDEND PAYMENT DATE

Edinburgh Inv Trust, Next 15 Group, Care Reit, CQS Natural Resources Growth and Income, Abrdn Asian Income Fund Limited NPV, Alternative Income Reit, Howden Joinery Group, Invesco Global Equity Income Trust Glbl Eqty Inc Shs, Artemis Alpha Trust, Starwood European Real Estate Finance Ltd, M & G Credit Income Investment Trust, Foresight Solar Fund Limited, Bytes Technology Group, Sequoia Economic Infrastructure Income Fund Limited, Tesco, S&U, Warpaint London

SPECIAL DIVIDEND PAYMENT DATE

Downing Strategic Micro-Cap Investment Trust Red

QUARTERLY PAYMENT DATE

JPMorgan Asia Growth & Income, Primary Health Properties

UK ECONOMIC ANNOUNCEMENTS

GFK Consumer Confidence (00:01)

Retail Sales (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Gross Domestic Product (GER) (07:00)

U. of Michigan Confidence (US) (15:00)

[master rsi] 21/11/2024 21:54

Northamber annual loss widens due to a softened market
Shares in Northamber closed 1.2% lower at 28.67 pence each in London on Thursday.

(Alliance News) - Northamber PLC on Thursday said its loss widened in its financial year 2024, due to a "challenging" market.

The London-based distributor of audio-visual and information technology equipment said pretax loss widened to GBP1.3 million during the year ended June 30, from GBP411,000 the year before.

Revenue fell 17% to GBP56.0 million from GBP67.1 million, while cost of sales reduced by 18% to GBP48.0 million from GBP58.2 million.

It swung to an adjusted loss before interest, tax, depreciation and amortisation of GBP396,000, compared to earnings of GBP3,000 a year ago.

Northamber proposed a final dividend of 0.3 pence, unchanged from last year.

The group has embarked on a "significant cost reduction exercise", and is targeting annualised savings of GBP750,000 to come into effect from January 2025.

Northamber said: "We expect to see the benefit of [its cost reduction measures] in the current financial year, albeit more so in the second half. As it stands, despite a soft market impacting the first quarter more than anticipated, the group is trading at an Ebitda positive level in the year to date, and is hopeful of delivering an Ebitda profit for the first half. Cost savings and the benefit from some new initiatives will benefit the second half and beyond.

[master rsi] 21/11/2024 21:32

DOW

Ended the day with 461 points HIGHER

[master rsi] 21/11/2024 18:34

MARKET REPORT
LONDON MARKET CLOSE: Stocks rise as US calms Russia missile fears

(Alliance News) - Stock prices in London closed in the green on Thursday, as investor confidence improved as the trading day wore on, after the US said a Russian missile attack on Ukraine was not a "game-changer".

Nonetheless, Brent remained above the USD73 mark, supporting oil majors.

The FTSE 100 index added 64.20 points, 0.8%, at 8,149.27. The FTSE 250 rose 105.16 points, 0.5%, at 20,349.92, and the AIM All-Share rose 3.48 points, 0.5%, at 725.82.

The Cboe UK 100 ended up 0.9% at 819.81, the Cboe UK 250 added 0.3% at 17,801.27, and the Cboe Small Companies lost 0.5% at 15,570.66.

The CAC 40 in Paris spent most of the day in the red but recovered to close up 0.2%, while the DAX 40 in Frankfurt added 0.7%.

Supporting the FTSE 100 were share price gains for its heavyweights, including oil majors Shell and BP.

Shell and BP rose 0.8% and 1.9% as oil sat at lofty territory on simmering global tensions.

Brent oil was quoted at USD73.52 a barrel late Thursday afternoon, up from USD73.20 at the time of the London equities close on Wednesday, but off an intraday high of USD74.34.

Russia's strike on Ukraine was not an ICBM, but an "experimental" medium-range ballistic missile, a US official said Thursday, playing down the significance of the attack.

"Russia may be seeking to use this capability to try to intimidate Ukraine and its supporters... but it will not be a game changer in this conflict," the US official said.

Ukraine had accused Russia of launching an intercontinental ballistic missile attack at Ukraine for the first time on Thursday but without a nuclear warhead in a new escalation of the conflict.

British media meanwhile reported on Wednesday that Kyiv had launched UK-supplied Storm Shadow missiles at targets in Russia after being given the green light from London.

The defence ministry in Moscow said its air defence systems had downed two Storm Shadows, without saying whether they were downed on Russian territory or in occupied Ukraine.

Gold rose to USD2,665.01 an ounce late Thursday from USD2,648.58 on Wednesday.

The pound was quoted at USD1.2605 late on Thursday afternoon in London, down from USD1.2634 at the time of the European equities close on Wednesday. The euro stood at USD1.0491, down from USD1.0515. Against the yen, the dollar was trading at JPY154.52, fading from JPY155.36.

The single currency slumped as low as USD1.0476 on Thursday, its worst level since October 2023.

"The threat of escalation in Ukraine plus more soft European PMI numbers tomorrow is keeping the euro subdued," ING analysts commented.

Friday's economic events calendar has a slew of flash composite purchasing managers' index readings, including the eurozone at 0900 GMT, the UK at 0930 GMT and the US at 1445 GMT. There is also a German gross domestic product reading at 0700 GMT, the same time as UK retail sales data. Overnight, there is also a UK consumer confidence reading.

In London, JD Sports shares slumped 16%. It predicted annual profit will be at the lower end of guidance, as a decent start to its third quarter was hampered by a "volatile" October.

Its pretax profit before adjusting items guidance range stands at GBP955 million to GBP1.04 billion.

Halma added 5.7%. The stock hit a three-year high on Thursday. It lifted its half-year payout and reported a rise in revenue and profit. The safety equipment maker said pretax profit in the six months to September 30 rose 16% on-year to GBP174.0 million from GBP150.2 million a year prior. Revenue climbed 13% to GBP1.07 billion from GBP950.5 million.

Elsewhere, Liontrust shot up 8.3%. The asset manager said there are a "number of reasons" to assume the outlook for the sector is improving. It also announced a GBP5 million share buyback, kept its interim dividend at 22.0p per share and said it expects an unmoved annual payout of 72p.

Assets under management at its September 30 half-year end amounted to GBP25.96 billion, down 6.7% from GBP27.82 billion at the start of April. Net outflows amounted to GBP2.07 billion during the six months, though this was down from GBP3.21 billion a year prior.

Chief Executive Officer John Ions commented: "We are steadfast in our commitment to active management and to our partnership with clients through complementing their other strategies including passive investments. The headwinds facing many of our investment strategies are now being replaced by tailwinds including lower inflation and interest rates. We are seeing improved performance across our funds and we continue to have a strong brand and client engagement."

The firm said it has made progress in "strengthening Liontrust's technological, data and digital capability".

The company added: "We have previously highlighted our investment in the new target operating model. This investment is enabling us to manage the business as efficiently as possible, including a proposed reduction in staff numbers of around 25 roles. These roles represent around 12% of the group across the business and across levels of seniority, which will save, if implemented in full, around GBP4.5 million and be implemented over the next few months. As part of this, we are also closing four funds that are sub-scale and for which there is insufficient demand."

In New York, the Dow Jones Industrial Average was up 1.0% at the time of the European close. The S&P 500 was 0.4% higher, though the Nasdaq Composite lost 0.2%.

[master rsi] 21/11/2024 18:15

How the UPS are performing during last month

[master rsi] 21/11/2024 17:53

How the UPS are performing today

[master rsi] 21/11/2024 16:13

GGP 7p+0.675p

Has reached and important point

[master rsi] 21/11/2024 15:03

DOW

Opening higher with 89 points

[master rsi] 21/11/2024 14:55

SFOR 37.25+3.50p

The stock is going places today

[master rsi] 21/11/2024 10:48

LONDON BROKER RATINGS: Jefferies starts Auction Tech at 'underperform'
FTSE 100


Barclays raises Sage Group price target to 1,050 (970) pence - 'underweight'

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Jefferies raises Sage Group price target to 1,500 (1,300) pence - 'buy'

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Barclays raises ConvaTec price target to 330 (322) pence - 'overweight'

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Deutsche Bank raises Imperial Brands price target to 2,850 (2,600) pence - 'buy'

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Goldman Sachs raises Weir Group price target to 2,480 (2,410) pence - 'buy'

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Goldman Sachs cuts Severn Trent price target to 2,349 (2,360) pence - 'sell'

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Barclays raises Diploma price target to 4,500 (4,240) pence - 'overweight'

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UBS raises Anglo American price target to 2,800 (2,700) pence - 'buy'


FTSE 250


Bernstein raises Burberry price target to 1,030 (930) pence - 'outperform'

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Jefferies raises Hill & Smith price target to 2,540 (2,460) pence - 'buy'

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Berenberg cuts Crest Nicholson price target to 195 (215) pence - 'hold'

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UBS cuts Crest Nicholson price target to 240 (255) pence - 'buy'

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Barclays cuts Crest Nicholson price target to 218 (220) pence - 'equal weight'

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Berenberg cuts Assura price target to 48 (51) pence - 'buy'

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Barclays cuts Spire Healthcare price target to 290 (320) pence - 'overweight'

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RBC cuts NextEnergy Solar Fund price target to 100 (105) pence - 'outperform'

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RBC raises CMC Markets price target to 350 (330) pence - 'outperform'

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Jefferies raises AJ Bell price target to 530 (485) pence - 'buy'

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JPMorgan cuts Spectris price target to 2,650 (3,000) pence - 'neutral'

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Jefferies starts Auction Technology with 'underperform' - price target 380 pence


SMALL CAP

Berenberg cuts Liontrust target to 500 (625) pence - 'hold'

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Barclays raises Oxford Nanopore price target to 170 (160) pence - 'overweight'

[master rsi] 21/11/2024 10:19

GGP 6.85p +0.525p

The star stock for the last few days