Upstream Share Discussion Threads

[master rsi] 11/12/2024 17:56

How the UPS are performing during last month

[master rsi] 11/12/2024 17:17

How the UPS are performing today

[master rsi] 11/12/2024 17:06

COMMODITIES - All on the UP

Gold $2714 +18
BTC-Bitcoin $100,520 +$3,844
OIL Brent $72.95 +1.01

[master rsi] 11/12/2024 16:39

FTSE 100 movers: Ashtead falls again; Lloyds Banking tops index
(Sharecast News) - London's FTSE 100 was up 0.2% at 8,292.43 in afternoon trade on Wednesday.

Lloyds Banking Group surged to the top of the index after the Supreme Court agreed that Close Brothers could appeal a landmark ruling on motor finance commissions.

Lloyds Bank also provides motor finance.

Reckitt Benckiser got a boost after HSBC upgraded the shares to 'buy' from 'hold' and lifted the price target to 5,500p from 4,800p as it took a look at the outlook for consumer staples next year.

The bank said Reckitt endured a difficult 2024 with the shares affected by a mix of operational challenges and adverse verdicts in several trials surrounding links between pre-term infant milk formula and necrotising enterocolitis (NEC, an intestinal illness affecting pre-term infants).

"However, we feel that the operational challenges were rather one-off in nature and, excluding these, the underlying performance of its Health & Hygiene business has been quite robust," it said.

"Recent months have also seen more favourable developments on the litigation front with one verdict in Reckitt's favour and also a slowing in the pipeline of new cases, which give us more confidence that even if Reckitt does end up settling, the amount would be manageable."

IAG flew higher after Deutsche Bank upgraded the BA and Iberia owner to 'buy' from 'hold' and hiked the price target to 400p from 215p.

The bank said constrained capacity on the Transatlantic to/from the UK - a key market for BA at around 40% of revenues - should help IAG to further progress pricing in 2025.

"This is supported by early evidence from our fares tracker and underpinned by the macro outlook for the US, the UK and Spain," it said. "With fuel set to be tailwind, we see scope for another year of ahead-of-consensus earnings growth in 2025 (DBe EBIT +6% versus consensus)."

Equipment rental firm Ashtead fell after a downgrade to 'neutral' at Goldman Sachs. The shares had already tumbled on Tuesday after it warned on profits and announced plans to move its primary listing to the US.

FTSE 100 - Risers

Lloyds Banking Group (LLOY) 54.82p 3.55%

Pearson (PSON) 1,275.00p 3.03%

Reckitt Benckiser Group (RKT) 4,822.00p 2.53%

International Consolidated Airlines Group SA (CDI) (IAG) 288.90p 2.45%

Rentokil Initial (RTO) 416.40p 2.28%

InterContinental Hotels Group (IHG) 9,966.00p 2.13%

Persimmon (PSN) 1,305.50p 1.87%

Flutter Entertainment (DI) (FLTR) 21,980.00p 1.52%

BAE Systems (BA.) 1,196.00p 1.44%

Diageo (DGE) 2,479.50p 1.39%

FTSE 100 - Fallers

Ashtead Group (AHT) 5,252.00p -2.60%

Marks & Spencer Group (MKS) 383.80p -1.77%

GSK (GSK) 1,354.00p -1.42%

Smith (DS) (SMDS) 540.00p -1.28%

SEGRO (SGRO) 726.00p -1.20%

Frasers Group (FRAS) 624.50p -1.19%

BT Group (BT.A) 152.30p -1.14%

SSE (SSE) 1,658.00p -1.07%

Severn Trent (SVT) 2,572.00p -1.00%

British Land Company (BLND) 368.80p -0.91%

[master rsi] 11/12/2024 16:30

S&U says UK motor finance scandal and Budget weighing on sector

(Alliance News) - S&U PLC shares rose on Wednesday, despite its warning that the motor finance scandal is causing "chaotic" conditions in the market while the Budget has weighed heavy on consumer and business confidence.

Shares in the specialist lender were up 1.9% at 1,472.44 pence in London late on Wednesday afternoon.

S&U, which provides car finance through Advantage Finance, said trading conditions had been "burdened" over the first half of its financial year.

The company referred to a recent ruling in the Court of Appeal that it was unlawful for car dealers to receive commission from lenders without fully informing customers of the arrangement.

S&U said the decision "sought to impose a new, but retrospective, duty of care on lenders and brokers throughout the sector".

It added that the ruling caused "chaotic market conditions" which led to some lenders pausing lending altogether. This contributed to a 33% drop in advances, meaning short-term credit, so far this year compared with last year.

[master rsi] 11/12/2024 15:52

THG 51.25p +2.91p +6.02%

Back from a meeting and I got a bigger SURPRISE than expected

The BREAKOUT from the NECKLINE on the chart has done wonders for the share price

[master rsi] 11/12/2024 15:41

DOW

Opening higher but now 12 points lower

[master rsi] 11/12/2024 11:55

Going to a meeting now, see you later

[z1co] 11/12/2024 11:54

Light Science technologies holdings LST , very much under the radar.

Their PFP division has won another contract for TWO residential tower blocks in Salford



Injecta Fire Barrier
531 followers

46m

We’re proud to be selected for a critical remediation project for two residential tower blocks in Salford!

Building on our successful partnership with Quaysquare Consult Ltd, we will be installing the innovative fire barrier system, Injectaclad, in horizontal cavities of both blocks.

By installing Injectaclad with minimal disruption and structural alterations, we’re delivering a robust solution that protects residents – while also providing an affordable pathway for property owners to meet fire safety requirements.

Read more about our new contract here:

[master rsi] 11/12/2024 11:50

How the UPS are performing during last month

[master rsi] 11/12/2024 11:43

How the UPS are performing today

[master rsi] 11/12/2024 11:23

RM shares surge as it expects to blaze ahead of profit expectations
(Alliance News) - RM PLC on Wednesday said it expects to report profit as much as 10% ahead of market expectations after a "year of transformation".

Shares in RM, an Abingdon, England-based supplier of technology and resources to the education sector, were up 8.5% to 96.55 pence in London on Wednesday morning.

RM said it expects adjusted operating profit for the financial year that ended November 30 to be between GBP8.4 million and GBP8.8 million, which is between 5% and 10% ahead of market expectations. The company believes that market expectations for adjusted operating profit are GBP8.0 million.

Adjusted operating profit from continuing operations was GBP300,000 in financial 2023, as the company said it faced a turbulent period.

RM on Wednesday said it expects adjusted earnings before interest, tax, depreciation and amortisation between GBP13 million to GBP14 million, up from GBP7.0 million the year before.

Revenue from continuing operations, which now excludes the Consortium business, is expected to be 5% to 6% lower than the prior year. Consortium is a school supply operation that was closed after losing revenue.

Revenue has been hurt by a "challenging" UK schools market, but RM said the affected divisions, Technical Teaching Solutions and Technology, have improved their profitability "reflecting a realigned operating model delivering greater operational efficiencies with a lower cost base".

RM said its contracted order book is closing the year over twice as large as last year, in part due to approximately GBP100 million of contracts for its assessment platform which were won during financial 2024.

Net debt also finished the year "better" than market expectations of GBP53 million.

Chief Executive Officer Mark Cook said: "This has been a year of transformation for RM, and the success of our strategy is reflected in the progress we have made driving profitability and growing our contracted order book. Our focus on the significant opportunities for Assessment has delivered a number of major new digital contracts, alongside operational improvements throughout the business. We are pleased with the progress that has been made and remain focused on reducing our net debt."

[master rsi] 11/12/2024 10:36

ARB 5.50p +0.20p

Another good move up just now 5.25 v 5.75p, after tee large marked-down lately
Volume of 621K so far

[master rsi] 11/12/2024 10:21

SMALL-CAP WINNERS & LOSERS: RM expects to beat market expectations
SMALL-CAP - WINNERS

RM PLC, up 8.5% at 96.60 pence, 12-month range 51.00p-106.00p. The educational technology provider expects to report adjusted operating profit between GBP8.4 million and GBP8.8 million for the year ended November 30, between 5% and 10% higher than market expectations of GBP8 million. "This has been a year of transformation for RM, and the success of our strategy is reflected in the progress we have made driving profitability and growing our contracted order book. Our focus on the significant opportunities for Assessment has delivered a number of major new digital contracts, alongside operational improvements throughout the business. We are pleased with the progress that has been made and remain focused on reducing our net debt," Chief Executive Officer Mark Cook says.

----------

Taylor Maritime Investments Ltd, up 1.1% at USD0.93, 12-month range USD0.82-USD1.07. The investment company, specialising in bulk carrier segments of the global shipping sector, plans a 4 US cents per share special dividend for 2024. This will be in addition to a quarterly dividend of 2 cents. "The board's intention to pay a special dividend is the result of cash generated from recent disposals completed at, or close to, NAV. Given we've been able to realise NAV through vessel sales, it makes sense to return some of the surplus cash to our shareholders who have continued to support TMI since IPO," CEO Edward Buttery says.


SMALL-CAP - LOSERS

ProCook Group PLC, down 8.2% at 34.06p, 12-month range 16.62p-41.60p. The pots and pans seller reports a slow start to its key third-quarter, amid weak footfall ahead of the UK budget. It also reports its pretax loss in the half-year to October 28 was unchanged annually at GBP3.2 million. Half-year revenue rises 7.5%, however, to GBP28.3 million from GBP26.3 million. In the first eight weeks of the third-quarter, revenue was 7.5% higher on-year, up 0.9% like-for-like. "Retail performance was hampered by weak footfall during the early weeks of the second half, coinciding with the budget event, but has improved since. As a result, retail like for like revenue was [down] 4.0%. New stores contributed a further [10.3 percentage] points to deliver total retail revenue growth of 6.3% over the eight weeks," ProCook adds.

[master rsi] 11/12/2024 09:57

THG 49.36p +1.02p

The BREAKOUT is on as a 49.36p "AT" has appeared on the ticker

[master rsi] 11/12/2024 09:35

SBTX 16.675 +0.675p ( 16.25 v 17p )

Moving up in the right direction
Time to go where it should be

[master rsi] 11/12/2024 09:10

Europe open: Stoxx slips on corporate updates ahead of US CPI

(Sharecast News) - European shares opened lower on Wednesday as traders eyed corporate updates and also turned their attention to US inflation data later in the day.

The pan-regional Stoxx 600 index was down 0.17% at 517.56 in early deals.

''Investors look set to show wariness ahead of a key inflation report due out in the US, while they await more detail about support for China's struggling economy," said Hargreaves Lansdown analyst Susannah Streeter.

"With the (Chinese) Politburo having announced a looser monetary stance will be adopted next year, investors are holding out for more fiscal support, bigger spending and lower borrowing."

"Interest rate speculation in the US is set to heighten when a CPI snapshot of inflation is released later, with the signs are that prices have become more stubborn."

"If as expected, the headline rate creeps up a little, by 0.1% on the month, it is likely to increase bets of a rate cut next week. Markets are already pricing in a near 85% probability that the Fed will plump for another 0.25% reduction."

In equity news, Zara owner Inditex fell 5% after the fast-fashion retailer missed estimates on third-quarter sales.

[master rsi] 11/12/2024 08:51

MARKET REPORT
LONDON MARKET OPEN: Weak early trade as eyes turns to US inflation

(Alliance News) - London's FTSE 100 made a slow start on Wednesday, ahead of US inflation data in the afternoon.

The FTSE 100 index traded down 27.16 points, 0.3%, at 8,253.20. The FTSE 250 was down 79.67 points, 0.4%, at 20,894.27, and the AIM All-Share was down 0.58 of a point, 0.1%, at 736.99.

The Cboe UK 100 was 0.4% lower at 828.28, the Cboe UK 250 was down 0.3% at 18,409.88, and the Cboe Small Companies fell 0.1% at 16,281.18.

The CAC 40 was down 0.2% in Paris. The DAX 40 in Frankfurt was 0.1% lower.

The pound rose to USD1.2747 early Wednesday in London, flat from USD1.2748 at the time of the London equities close on Tuesday. The euro faded to USD1.0502 from USD1.0507. Versus the yen, the dollar fell to JPY151.65 from JPY152.02.

Brent oil was quoted at USD72.36 a barrel, declining from USD72.65. Gold rose to USD2,694.17 an ounce from USD2,690.00.

US consumer price inflation is expected to have crept up to an annual rate of 2.7% in November, according to FXStreet cited consensus, from 2.6% in October.

XTB analyst Kathleen Brooks commented: "We do not think that the outcome of this report will detract from the Federal Reserve cutting interest rates next week, there is currently an 86% chance of a rate cut priced in by the Fed Fund Futures market. However, a hot inflation print, that pushes headline inflation well above estimates, could lead to questions being asked about the wisdom of cutting interest rates when inflation remains high, and before the new Trump administration comes in with policies that could trigger even more price pressure down the line.

"The Fed's mandate is not purely price stability, it also needs to ensure full employment. It is doing well on the second part of its mandate, the November NFP report showed that the US economy created 227,000 jobs last month, even though the unemployment rate rose to 4.2%, the highest level since August. Thus, it would make sense for the Fed to concentrate more on prices, especially since the disinflation trend has come to a halt in 2024, with headline inflation stuck in a range between 2.4% and 3%. Thus, the outcome of this report may carry more significance than some may think."

The inflation data is released at 1330 GMT.

The next Fed decision is next week Wednesday. Before that, there is a Bank of Canada decision this afternoon at 1445 GMT.

The European Central Bank's final decision of the year is on Thursday.

ING analysts commented: "It has been a very quiet week on the European data calendar as investors await the main event of the week – tomorrow's ECB decision. Market pricing has settled on a 25bp ECB rate cut – with which we agree – although a dovish press conference from President Lagarde could keep the euro offered."

In London, International Consolidated Airlines Group was the best large-cap performer, and equipment hire firm Ashtead Group the worst.

IAG added 1.5% as Deutsche Bank lifted the stock to 'buy' from 'hold'.

Ashtead, after sliding 14% after a guidance cut on Tuesday, shed another 3.5% early Wednesday. Goldman Sachs cut the stock to 'neutral' from 'buy'.

Kainos added 7.7%. IT firm Kainos re-appointed Brendan Mooney as its chief executive officer, just over a year after he stepped down from the position. Mooney replaces Russell Sloan in the post, who leaves the Workday partner with "immediate effect".

Mooney has worked for Kainos since 1989 and was CEO for more than two decades before he left the position in September of last year.

Chair Rosaleen Blair said: "We are delighted to welcome Brendan back to the role of CEO. Having overseen a hugely successful period of growth for Kainos, he needs very little introduction to anyone connected with the group. Brendan's knowledge of the group, its challenges and opportunities is unsurpassed and we look forward to a clear focus on a return to growth. I would also like to thank Russell for the enormous contribution that he has made to Kainos in his 25 years with the group. He played a key role in the development of Kainos. In his time with the business, it went from a small private company to an international business operating in over 20 countries. He leaves with our gratitude and respect and we wish him every success in the future."

On the decline, ProCook shed 14%. The pots and pans seller reported a slow start to its key third-quarter, amid weak footfall ahead of the UK budget.

It also reported its pretax loss in the half-year to October 28 was unchanged annually at GBP3.2 million. Revenue rose 7.5%, however, to GBP28.3 million from GBP26.3 million.

In the first eight weeks of the third-quarter, revenue was 7.5% higher on-year, up 0.9% like-for-like.

"Retail performance was hampered by weak footfall during the early weeks of the second half, coinciding with the budget event, but has improved since. As a result, retail like for like revenue was -4.0%. New stores contributed a further [10.3 percentage] points to deliver total retail revenue growth of 6.3% over the eight weeks," ProCook added.

In New York on Tuesday, the Dow Jones Industrial Average fell 0.4%, while the S&P 500 and Nasdaq Composite each lost 0.3%.

In Tokyo, the Nikkei 225 ended marginally higher on Wednesday. In Sydney, the S&P/ASX 200 fell 0.5%. In China, the Shanghai Composite rose 0.3%, while the Hang Seng in Hong Kong lost 0.8%.

[master rsi] 11/12/2024 08:28

FTSE

Another down opening with 29 points lower

[master rsi] 11/12/2024 00:06

US close: Dow Jones delivers fourth-straight daily losss

(Sharecast News) - Major indices closed lower on Tuesday as both the S&P 500 and Nasdaq Composite retreated from their record highs in the previous session.

At the close, the Dow Jones Industrial Average was down 0.35% at 44,247.83, while the S&P 500 lost 0.30% to 6,034.91 and the Nasdaq Composite saw out the session 0.25% weaker at 19,687.24.

The Dow opened 154.10 points lower on Tuesday, extending losses recorded in the previous session.

Stocks lacked direction on Tuesday as traders continued to hold out for tomorrow's consumer price index report, which comes just a week before the Federal Reserve's next interest rate decision.

On Tuesday's macro slate, the National Federation of Independent Business' small optimism index jumped to 101.7 in November for the highest reading since June 2021, up from 93.7 in October and ahead of expectations for a reading of 94.2.

[master rsi] 10/12/2024 23:36

Chancellor Rachel Reeves dragged private pensions into the death duty net in her
Over 600,000 landlords face paying hundreds of thousands of pounds in death duties thanks to frozen allowances, analysis suggests.

One in five buy-to-let investors have a portfolio that exceeds the Government’s inheritance tax thresholds, according to accountancy firm RSM, as experts warned that tenants would suffer if death duties force landlords to sell.

RSM estimated that the estates of 50,000 additional landlords face an inheritance tax bill this year compared to last year.

Inheritance tax is charged at 40pc on the portion of an estate over £325,000. Individuals have an extra £175,000 allowance towards their main residence if it is passed to their children, and spouses can combine their allowances.

However, the allowances have been frozen since 2009 even as house prices have soared, dragging more landlords into the death duty net.

Chris Etherington, of RSM, said the next generation faced a “ticking time bomb” of tax liabilities, and warned many families will have to sell up in order to fund the resulting tax bill.

He added: “Fiscal drag is pulling more landlords into the inheritance tax net and many families will simply have to sell up in order to fund the resulting tax bill.

“Some may not wait that long and feel it is the right time to sell up now, paying some tax now to avoid a larger liability later. Ultimately, it could be bad news for tenants.”

Around 613,000 UK landlords – just over a fifth of the 2.81 million total – could expect an inheritance tax bill given the current allowances and the value of their portfolio, according to RSM.

Mr Etherington noted that if landlords at risk of triggering inheritance tax sold just one of their properties to settle the bill, it could wipe out around one tenth of the rental properties available on the market, putting more upward pressure on prices.

Landlords have already sold 300,000 more properties than they bought since 2016 as taxes and tightening red tape have cut into profit margins.

Chris Norris, of the National Residential Landlords Association, said: “Most landlords only own one or two properties, but the freeze on thresholds means that they will get a bill.

“There are so many taxes that hit landlords who then pass on to tenants – inheritance tax just adds to that.

“It won’t drive a firesale of properties, but it will cause some landlords to sell if they can’t find a tax efficient way to pass on their portfolio, and use that money to fund their retirement instead.”

He added that popular tax-efficient planning methods like family companies or trusts were a “minefield” that could catch out small landlords.

Chancellor Rachel Reeves slashed inheritance tax for farmers and dragged private pensions into the death duty net in her October Budget.

Expanding the death duty net is expected to drag 8pc of estates into paying inheritance tax every year, compared to around 4pc currently.

The Treasury was approached for comment.

[master rsi] 10/12/2024 23:06

SDY 31.50p =

Although it finished unchanged there was a higher volume than usual, after 2 very large trades in the early morning and reported at the end of the day

09:24:36 31.50 503,527 158.61K 08:32:12 31.50 500,000 157.50k

[master rsi] 10/12/2024 22:42

Orchard Funding shares jump amid strong full-year growth
(Alliance News) - Orchard Funding Group PLC on Tuesday confirmed it would not be paying a dividend, although the firm remained optimistic about its future prospects.

Shares in the firm surged 16% to 24.93 pence on Tuesday afternoon in London.

For the financial year ended July 31, the Luton, England-based specialist in insurance premium finance and the professions funding market said its pretax profit narrowed slightly year-on-year by to 2.5% to GBP2.1 million from GBP2.2 million, with Orchard's board expressing contentment "given the level of impairment allowance".

Impairment charges over the period grew significantly to GBP1.2 million from GBP140,000 the prior year.

Throughout the period Orchard was subject to an external fraud and one of its largest introducers entered administration, with Chair Steven Hicks stating that: "The financial impact of the last two events is GBP811,000."

Revenue for the AIM-listed firm grew by 23% to GBP9.6 million from GBP7.9million the prior year, boosted by a rise in interest revenue over the period. Orchard reported an 18% on-year increase in net interest income to GBP5.8 million from GBP4.9 million.

Net total income rose 23% to GBP6.9 million from GBP5.6 million.

In line with its capital allocation statement in May, where it reviewed the benefits of maintaining its AIM listing, the firm said it is not proposing a dividend. This compares with a final dividend last financial year of 2 pence per share.

The firm said it is mindful of how economic challenges could affect its customers, but said it is "encouraged by the normalisation of inflationary conditions and the expected gradual shift to a lower base rate environment".

Orchard Chief Executive Ravi Takhar said: "Our business is resilient. We have had to endure a number of impacts to our group during the year and notwithstanding those impacts, we have continued to trade confidently and profitably.

[master rsi] 10/12/2024 22:12

88E 0.09p +0.0025 (2.70%) / 88 Energy upbeat on PEL 93 initial seismic data
(Sharecast News) - 88 Energy announced the initial interpretation of 2D seismic data for its PEL 93 exploration licence in Namibia's Owambo Basin on Tuesday, which were processed by Monitor Exploration and confirmed 10 independent structural leads.

The AIM-traded firm said the seismic data revealed multiple structural closures in the southern area of the licence, with some individual leads spanning about 100 square kilometers and showing prominent vertical relief.

It said the leads demonstrated clear hydrocarbon charge potential, supported by source rocks beneath the prospects and in the northern kitchen area.

The findings reinforced the licence's potential as a promising exploration opportunity.

PEL 93, covering 18,500 square kilometers, is operated by Monitor Exploration, which holds a 55% working interest.

88 Energy, through its subsidiary, holds a 20% stake, with the option to increase it to 45% under the 2024 work programme.

Other stakeholders included Legend Oil Namibia at 15%, and Namibia's national oil company Namcor at 10%.

88 Energy said further analysis would integrate well log data, airborne geophysics, soil geochemistry, and seismic results, with a prospective resource estimate expected by the first half of 2025.

Early findings suggested an active petroleum system, supported by ethane concentrations in soil samples and passive seismic anomalies aligning with the identified structural closures.

Future work could include additional 2D seismic acquisition, particularly over newly-identified leads, before advancing to a single well commitment as part of the exploration programme.

The next steps remained subject to exploration outcomes, government approvals, and joint venture agreements.