Upstream Share Discussion Threads

[master rsi] 19/11/2024 17:14

MARKET REPORT
LONDON MARKET CLOSE: European stocks hurt by geopolitical tensions

(Alliance News) - Stock in Europe closed off session lows but struggled on Tuesday, with geopolitical worries damping enthusiasm in equity markets, while the pound continued to sit below USD1.27 ahead of a key UK inflation reading on Wednesday.

The FTSE 100 index ended down 10.30 points, 0.1%, at 8,099.02. The FTSE 250 rose 32.21 points, 0.2%, at 20,427.62, and the AIM All-Share faded 3.32 points, 0.5%, at 724.23.

The Cboe UK 100 ended flat at 814.55, the Cboe UK 250 rose 0.1% to 17,914.72, and the Cboe Small Companies ended down 0.5% at 15,738.91.

The CAC 40 in Paris and the DAX 40 in Frankfurt each lost 0.7%.

"Today's surge in the aptly nicknamed 'Fear Index' comes thanks to geopolitical tensions. Risk assets like stocks are not likely to enjoy a good day when the word 'nuclear' is being bandied around, and today was no exception. The Ukrainian use of US missiles on targets inside Russia caught European markets particularly hard, taking the already hard-hit CAC 40 to a new three and a half month low. In London the FTSE 100 gave back its morning gains but has avoided any major losses," IG analyst Chris Beauchamp commented.

Defence stocks closed higher, however. BAE Systems and Qinetiq rose 1.3% and 0.6% in London, while Rheinmetall added some 4.0% in Frankfurt. The latter also unveiled an aim to double annual sales by 2027, amid rising defence spending.

Travel stocks struggled, however. British Airways parent International Consolidated Airlines Group shed 2.0%, while Wizz Air gave back 2.2%.

Russia said Tuesday that Ukraine had fired US-supplied long-range missiles into its territory for the first time since Washington authorised such strikes, as President Vladimir Putin issued a nuclear threat on the 1,000th day of the war.

With neither side showing any sign of relenting, Putin signed a decree broadening the justification for Moscow's use of nuclear weapons.

The grim anniversary opened with a Russian strike in the eastern Ukrainian region of Sumy that gutted a Soviet-era residential building and killed at least 12 people, including a child.

President Volodymyr Zelensky published images of rescue workers hauling bodies from the debris and called on Kyiv's allies to "force" the Kremlin into peace.

Against the yen, the dollar was trading at JPY154.21 late on Tuesday afternoon, down compared to JPY155.01 at the same time on Monday. The yen shone due to its safe haven allure.

The pound was quoted at USD1.2676, higher compared to USD1.2649 at the equities close on Monday. The euro stood at USD1.0590, higher against USD1.0572.

According to FXStreet, a UK consumer price index reading on Wednesday is expected to show the pace of annual inflation accelerated to 2.2% last month, back above the Bank of England target, from 1.7% in September.

The BoE was in focus on Tuesday, as a handful of policymakers spoke in front of the UK's Treasury Select Committee.

The BoE's newest external member of the Monetary Policy Committee is among the most dovish of the rate-setting team, analysts at Barclays assessed.

Alan Taylor, in one of his public debuts, told the Treasury Committee in UK parliament that he predicts around 100 basis points of BoE rate cuts by the end of next year.

"I think if you ask what does gradual mean right now, it's aligned in our case closely to the market curve," he explained.

Taylor joined the MPC in September. He voted with the majority to maintain bank rate in his first meeting and then joined the bulk of the MPC by voting to cut by 25 basis points earlier this month.

Meanwhile, Governor Andrew Bailey warned over "fragmenting" the world economy amid promises from Donald Trump that he will impose steep trade tariffs on other countries, PA reported.

Speaking to MPs on Tuesday, Andrew Bailey said the UK should keep an "active dialogue" with the incoming US administration, following Trump's election win.

When asked about potential tariffs, Bailey said: "I would be very clear, fragmenting the world economy is not a good thing."

However, the governor added that he does not want to "jump to conclusions" on the effect of particular tariffs on UK policy.

"I don't think we can make that judgment today because we literally do not know what their intentions are."

Trump has repeatedly said he will levy a 20% tax on all imports, which economists have warned would hit UK economic growth.

In London, Diploma shares slumped 8.0%, the worst FTSE 100 performer. The London-based supplier of specialized technical products and services reported a pretax profit increase of 13% to GBP176.6 million from GBP155.6 million the year before. Revenue rose 14% to GBP1.36 billion from GBP1.20 billion.

Revenue missed company-compiled consensus of GBP1.37 billion.

Elsewhere in London, Mulberry plunged 12% as it reported weaker earnings and set out plans to be a "leaner, more agile organisation".

In the half-year to September 28, the Somerset, England-based handbag maker said revenue fell 19% to GBP56.1 million from GBP69.7 million the prior year, with uncertain macroeconomic trends continuing to impact its performance. The firm's pretax loss for its half-year widened to GBP15.7 million from GBP12.8 million.

"In response to current market conditions, we have taken decisive steps to streamline operations, improve margins, reduce working capital, and strengthen our cash position. This has also meant reviewing our internal team structure to ensure we become a leaner, more agile organisation. Additionally, we've made strategic adjustments to our product, pricing, and distribution strategies, and we've begun discussions with luxury wholesale partners to ensure we are present wherever our customers shop," Chief Executive Andrea Baldo sad.

In New York stocks were mixed. The Dow Jones Industrial Average was down 0.4%, the S&P 500 added 0.1% and the Nasdaq Composite rose 0.4%.

Walmart shares rose 3.9% in New York, lurking around record highs, after it lifted its annual outlook again on the back of a "strong" third-quarter.

The retailer said it achieved revenue of USD169.59 billion in the three months to October 31, a rise of 5.5% on-year from USD160.80 billion. Net income jumped to USD4.71 billion from USD643 million.

Net sales amounted to USD168.00 billion, up 5.5%. Aside from net sales, Walmart also generates revenue from memberships.

The Bentonville, Arkansas-based retailer said basic net income per share shot up to USD0.57 from USD0.06 a year prior.

"We had a strong quarter, continuing our momentum. Our associates are working hard to save people time and money and to transform our business. In the US, in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart," Chief Executive Officer Doug McMillon said.

Looking ahead, Walmart now expects net sales to grow between 4.8% and 5.1% at constant currency for the full-year, its outlook boosted from the August guidance of a 3.8% to 4.8% rise. Its previous outlook represented an improvement from guidance of a 3.0% to 4.0% climb.

Brent oil was quoted lower at USD72.93 a barrel late on Tuesday afternoon in London, easing from USD73.08 late Monday. Gold rose to USD2,628.26 an ounce against USD2,610.04 late Monday.

The global economic calendar has the inflation reading from the UK and a German producer price index at 0700 GMT.

The local corporate calendar has half-year results from water utility Severn Trent and industrial chains and power-transmission products supplier Renold.

In New York, earnings from Nvidia will be in focus after the closing bell on Wednesday.

[master rsi] 19/11/2024 16:29

How the UPS are performing during last month

[master rsi] 19/11/2024 16:14

How the UPS are performing today

[master rsi] 19/11/2024 15:54

Eco Buildings stock jumps on multi-million dollar modular homes deal
(Alliance News) - Eco Buildings Group PLC said on Tuesday it has secured a letter of intent for the purchase of 10,000 modular homes, following a visit by a Dominican Republic delegation to its manufacturing facility in Albania.

Eco Buildings shares were up 13% at 7.66 pence in London on Tuesday afternoon.

The London-based manufacturer of prefabricated modular housing products said the agreement has a value of USD237 million of gross revenue to Eco Buildings, and entitles the delivery of 10,000 homes over five years.

In 2023, Eco Buildings reported revenue of EUR139.553 and noted it had secured two contracts in Albania and Kosovo. These agreements are projected to generate up to EUR114 million in total sales revenue within the first three years after the factory becomes operational.

The homes will be constructed by Gramma Constructora SRL, a private construction firm headquartered in the Dominican Republic. Under the agreement, Gramma Constructora is committed to an initial annual order of 2,000 units.

Eco Buildings noted that the deal, which remains subject to regulatory approvals, is designed to address the Dominican Republic's pressing social housing needs.

Carlos Bonilla Sanchez, Minister for Housing, Habitat & Buildings, visited Eco Buildings' manufacturing facility in Albania. Eco Buildings said this marked a key step forward in its discussions with the Dominican government.

The company added that talks are also underway regarding the potential establishment of a local manufacturing facility in the Dominican Republic.

Chief Executive Officer said: "We are very pleased with the progress achieved during the Dominican Republic delegation's visit to our Albanian factory. The successful alignment of our vision with their housing strategy marks the beginning of what we hope will be a long-term, impactful partnership."

[master rsi] 19/11/2024 15:11

Time to Act interim loss narrows as revenue surges almost 80%

(Alliance News) - Time to Act PLC on Tuesday said its loss narrowed in the first half of its current financial year, as revenue surged nearly 80% higher.

The Middlesbrough, England-based engineering firm focused on technology for the energy transition supply chain said its pretax loss narrowed to GBP184,494 during the six months that ended September 30, from GBP535,564 the year before.

Revenue grew 77% to GBP1.7 million from GBP958,047 last year.

Cost of sales increased 21% to GBP698,588 from GBP576,016, while administrative expenses, including exceptional costs, rose 28% to GBP1.1 million from GBP857,874.

Executive Chair Chris Heminway said: "These figures highlight the potential we can achieve when we actively promote the business. I am particularly pleased with our first half cash and adjusted profit performance which have significantly exceeded targets. Our group business have the potential to deliver strong margins and robust cash flow. Looking ahead, I am confident that the impending ramp-up in sales as we deliver our Bow Wave targets will also yield impressive financial results."

Shares in Time to Act were flat at 55.00 pence each on the Aquis Exchange on Tuesday afternoon.

[master rsi] 19/11/2024 14:36

DOW

Opening 306 points lower

[master rsi] 19/11/2024 14:18

Tullow Oil secures extension to revolving credit facility

Tullow Oil PLC - Africa-focused oil & gas exploration and production company - Secures lender approval to extend the maturity of its revolving credit facility to June 30, 2025. The facility has been resized to USD250 million, reflecting the company's reduced liquidity needs and focus on lowering financing costs. All other terms of the facility remain unchanged.

Tullow says the extension is "materially oversubscribed and underscores Tullow's strong relationships with its lenders". The company emphasized that the resized facility aligns with its targeted liquidity headroom while supporting its ongoing efforts to manage debt maturities effectively.

"Extending the revolving credit facility is a key step in our refinancing plans. The facility size provides us with our targeted liquidity headroom whilst reducing overall financing costs," says Chief Financial Officer Richard Miller.

Current stock price: 22.86 pence, down 1.2% in London on Tuesday

[master rsi] 19/11/2024 13:50

SBTX 16 v 16.50p +2.25p Here we go

Are all buys on the Ticker for A WHILE NOW, no wonder the rise

[master rsi] 19/11/2024 13:17

BoE boss warns over "fragmenting" world economy amid Trump tariffs

(Alliance News) - The governor of the Bank of England has warned over "fragmenting" the world economy amid promises from Donald Trump that he will impose steep trade tariffs on other countries.

Speaking to MPs on Tuesday, Andrew Bailey said the UK should keep an "active dialogue" with the incoming US administration, following Trump's election win.

When asked about potential tariffs, Bailey said: "I would be very clear, fragmenting the world economy is not a good thing."

However, the governor added that he does not want to "jump to conclusions" on the effect of particular tariffs on UK policy.

"I don't think we can make that judgment today because we literally do not know what their intentions are."

Trump has repeatedly said he will levy a 20% tax on all imports, which economists have warned would hit UK economic growth.

Speaking to the Treasury Select Committee of MPs, Bailey declined to pass judgment on what the effect of those policies could be until they were set in stone.

He said US policymaking does not have the "same tightness" to pre-election commitments as the UK, and that it is "important that we wait to see what the administration actually does".

Bailey said policymakers should therefore "be in an active dialogue with the Trump administration on those policies as they effect the UK".

[master rsi] 19/11/2024 12:55

MARKET REPORT
LONDON MARKET MIDDAY: Stocks sink as eurozone inflation rises

(Alliance News) - Stock prices in London were lower at midday on Tuesday with markets reportedly losing their risk appetites amid increasing geopolitical tensions.

"News of Ukraine utilising its new ability to hit Russia with US missiles has prompted a sharp turn lower for stocks, while the dollar and gold have both risen on safe-haven buying," commented IG's Chris Beauchamp. "The news comes as Putin has once more changed the threshold for Russian nuclear use. While likely more sabre rattling from the Kremlin, it does take the world closer to a terrifying miscalculation. Gains in indices have been wiped out, and investors are once again turning cautious on fears of further escalation."

Investors are also starting to scale back expectations for interest rate cuts, AJ Bell's Russ Mould said.

"It could be down to sticky inflation, worries about government borrowing levels, or the absence of a long-awaited recession, but investors are starting to cut back on the number of interest rate cuts they are expecting from both the US Federal Reserve and the Bank of England," Mould commented. "A month or two ago, markets were pricing in a Fed funds rate and a Bank of England base rate as low as 3.5% by next Christmas, but 4% now seems to be the current consensus for 12 months' time."

He added: "The Fed is expected to cut by 0.25% to 4.50% on 18 December but markets seem less convinced the Bank of England will act the following day, as an easing of policy is currently seen as a 50-50 chance, despite last week's uninspiring print for GDP growth in the third quarter."

The FTSE 100 index was down 32.72 points, 0.4%, at 8,076.60. The FTSE 250 was down 55.02 points, 0.3%, at 20,340.39, and the AIM All-Share was down 3.69 points, 0.5%, at 723.86.

The Cboe UK 100 was down 0.3% at 812.09, the Cboe UK 250 was down 0.3% at 17,836.57, and the Cboe Small Companies was down 0.1% at 15,793.82.

DCC led the FTSE 100, up 2.7%.

Jefferies maintained a 'buy' rating for the Dublin-based sales and marketing company, and increased the price target to 7,950 pence from 7,600p.

International Consolidated Airlines lost 2.9%, ahead of biggest loser Diploma which lost 7.1%.

IAG owns British Airways, which was hit by a "technical issue" on Monday as frustrated customers around the world complained of delays.

Reports suggested dozens of BA flights had been grounded after an IT failure hit the airline. In a statement, BA said: "Our flights are currently operating, but are experiencing delays as our teams work to resolve a technical issue affecting some of our systems."

Vesuvius led the FTSE 250, rising 7.3%. Burberry led the laggers with a 5.3% decline.

Vesuvius, a London-based molten metal flow engineering company is starting a new GBP50 million share buyback programme on Tuesday, which it aims to complete by late May.

For smaller caps, Avon Technologies gained 7.3%.

The Wiltshire, England-based protective gear company's annual revenue rose 13% to USD275.0 million and Avon swung to pretax profit of USD2.3 million from the prior year's USD20.2 million loss.

It also declares a final dividend of 16.1 US cents, up from 15.3 cents. The total dividend however is 23.3 cents, down from 29.6 cents.

Gear4Music lost 3.2%.

The York-based music equipment online retailer reported a 1.4% decline in total revenue to GBP61.7 million despite 6% growth in the UK market. Revenue fell 12% in Europe and the rest of the world due to a "challenging consumer environment".

In European equities on Tuesday, the CAC 40 in Paris was down 1.3%, while the DAX 40 in Frankfurt was down 1.2%.

Consumer prices rose as expected in October, data published by Eurostat showed Tuesday.

The harmonised consumer price index rose 2.0% on-year in October, in line with the flash estimate, accelerating from 1.7% in September.

On a monthly basis, the harmonised CPI rose by 0.3% in October, as expected, compared to deflation of 0.1% in September.

The pound was quoted at USD1.2635 at midday on Tuesday in London, lower compared to USD1.2649 at the equities close on Monday. The euro stood at USD1.0563, lower against USD1.0572. Against the yen, the dollar was trading at JPY154.08, down compared to JPY155.01.

Stocks in New York were called lower on Tuesday. The Dow Jones Industrial Average was called down 0.6%, the S&P 500 index down 0.5%, and the Nasdaq Composite down 0.4%.

Brent oil was quoted lower at USD72.76 a barrel at midday in London on Tuesday from USD73.08 late Monday.

Gold was quoted higher at USD2,634.16 an ounce against USD2,610.04 late Monday.

Still to come on Tuesday's economic calendar, there are the US building permits and Redbook index releases.

[master rsi] 19/11/2024 12:35

How the UPS are performing during last month

[master rsi] 19/11/2024 12:15

How the UPS are performing today

[master rsi] 19/11/2024 11:25

SMALL-CAP WINNERS: Avon raises final dividend after swing to profit
SMALL-CAP - WINNERS

Avon Technologies PLC, up 7.0% at 1,402 pence, 12-month range 746p-1,402p. The Wiltshire, England-based protective gear company says revenue rose 13% for the year to September 30 to USD275.0 million from USD243.8 million. Orders jumped 41% to USD364.4 million from USD258.7 million. Avon, which serves military and first responder clients, also swung to pretax profit of USD2.3 million from the prior year's USD20.2 million loss. Also declares a final dividend of 16.1 US cents up from 15.3 cents. Total dividend however is 23.3 cents, down from 29.6 cents. Says it expects continued growth and consistent returns in the current financial year.

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Trifast PLC, up 1.9% at 79.5p, 12-month range 66.2p-93.9p. Trifast, which manufactures industrial fastenings and components, says half-year revenue for the six months to September 30 decreased 3.2% on-year to GBP113.9 million from GBP117.6 million the year before. Pretax profit falls 21% to GBP1.6 million from GBP2.0 million. Interim dividend remains flat at 0.60p. Says however that it is on track for financial 2025 results in line with market expectations and remains "confident in the delivery of our mid-term margin and returns ambitions".

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Pollen Street Group Ltd, up 1.9% at 703p, 12-month range 528p-760p. Reports buyback of 200,000 shares at average 703.00p each on Monday in London. Says it intends to hold the repurchased shares in treasury. Company now has 2.7 million shares in treasury and 61.5 million in issue.

[master rsi] 19/11/2024 09:49

Rio Tinto to obtain 98% stake in Australian miner through rights issue

(Alliance News) - Rio Tinto PLC on Tuesday said it has taken up full entitlements in an Energy Resources of Australia Ltd rights issue.

The London-based diversified mining company noted an announcement made by Energy Resources regarding the completion of its entitlement offer and shortfall bookbuild which raised AUD766.5 million, approximately USD498.5 million, for the planned rehabilitation of the Ranger uranium project area in Australia's Northern Territory.

"As a result of Rio Tinto taking up its pro rata entitlements in the entitlement offer and the level of participation by other ERA shareholders," Rio Tinto said.

Rio Tinto will purchase shares in Energy Resources at AUD0.002 each, matching the price of the entitlement offer, to consequently hold a 98% stake in the Darwin, Australia-based miner.

Energy Resources shares closed 33% lower at AUD0.002 each in Sydney on Tuesday.

Chief Executive, Australia, Kellie Parker said: "We remain committed to the successful rehabilitation of the Ranger Project Area to a standard that will establish an environment similar to the adjacent Kakadu National Park, a World Heritage site. Our utmost priority and commitment is to complete this important rehabilitation project in a way that is consistent with the wishes of the Mirarr People."

The company added that it has no intention to mine or develop the nearby Jabiluka deposit if the compulsory acquisition is completed.

[master rsi] 19/11/2024 08:59

But who wants to open a new business with taxes all over the place, the new ones having a hard time and most likely getting rid of employees in order to fix balance sheets.
What I call the "B!tch" (Chancellor) has introduced too many things at the same time, and businesses are having a hard time digesting them. She never thought about the consequences of the multiple changes for the economy. Slowly and gently was the way of my budgets.

UK business openings fall to lowest level since 2010 -
(Alliance News) - New business openings across the UK hit their lowest rate in more than a decade last year, official figures show.

Data from the Office for National Statistics shows 316,000 new businesses were created in 2023, down from 337,000 the year before.

This means the rate of new businesses opening hit its lowest level since 2010, at 11% of all active firms. This was a fall from 11.5% a year earlier.

Anna Leach, chief economist at the Institute of Directors, blamed poor financial conditions after the pandemic, a "relatively weak" growth environment and skill shortages.

"Recent budget decisions unfortunately undermine the UK's business environment, disincentivising employment and reducing investment through the impact of higher taxes on business costs," Leach added. "Meanwhile, higher public spending is expected to raise the cost of finance in the UK.

"If the Government wants to get higher growth, it'll need a vibrant business sector to deliver it."

Despite this, there were slightly more business openings than closures, with the death rate dropping to 10.8%.

This was a reversal from 2022, which was the first year in more than a decade where there were more deaths than births.

The figures also showed an increase in the number of "high-growth" businesses, those which saw their workforce swell by more than 20% for three years in a row.

There were 13,750 such businesses nationally in 2023, an increase from 11,480 a year earlier.

Pranesh Narayanan, research fellow at the Institute for Public Policy Research, welcomed the recovery in the number of high-growth businesses, which he said would lead to "more jobs in dynamic and growing companies and a stronger economy overall".

However, Narayanan warned they will be competing with larger, established firms.

He urged the Government to ensure the Competition & Markets Authority has the backing it needs to stop larger businesses from "throwing their weight around to stifle competition".

There were stark regional differences in where high-growth companies were located.

Accounting for nearly a quarter of all high-growth businesses with at least 10 employees, London had 3,300, with a birth rate of 6.3%.

Meanwhile, Northern Ireland had just 240 and a birth rate of just 3.1%, less than half the capital's high-growth business birth rate.

Looking at individual industries, the transport and storage sector industry had both the highest business birth rate (14.5%) and the highest death rate (21.6%).

At the other end of the scale, finance and insurance saw the lowest proportion of new businesses (6.4%), while the health sector had the best survival rate, with just 6.5% of firms going under.

[master rsi] 19/11/2024 08:35

SBTX 15.75p +1p - Finalisation of commercial agreement with Croda
Finalisation of commercial agreement with Croda Beauty Care for SkinBiotix

· Commercial terms finalised on the basis of claims from additional studies

· Croda's roll-out and forecasts expected to remain confidential given sensitivity prior to launch

· Based on management's baseline expectations for sales under the Croda agreement plus sales from new acquisitions, Dermatonics and Bio-Tech Solutions, the Group is expected to be cash flow positive from FY2025

· Fireside chat between Stuart Ashman, CEO, and Elric Langton, Small Company Champion on Investor Meet Company Platform at 09.00 GMT on Friday 29 Nov 2024

19 November 2024 - SkinBioTherapeutics plc (AIM: SBTX), a life science company focused on skin health, announces that it finalised the commercial terms of its agreement with Croda plc, based on the final testing of the SkinBiotix™ technology.

The terms are based on the original agreement with SkinBioTherapeutics being paid tiered royalties based on global sales revenues on any licensed products derived from the partnership.

SkinBioTherapeutics signed the original commercial and manufacturing agreement in November 2019. In October 2023, Croda extended its contract with SkinBioTherapeutics by 12 months, in order to run additional clinical studies on the SkinBiotix technology. The aim was to investigate previously unseen beneficial properties which could enhance SkinBiotix's commercial potential with the cosmetics industry.

As previously announced, the results of the additional studies were all very positive, and the product is now in the marketing and commercialisation phase. The formal, public launch of SkinBiotix as an active ingredient is to take place at In-Cosmetics Global, the world's largest cosmetic ingredients exhibition, in Amsterdam (April 8-10, 2025).

Sales and distribution rights are for the active cosmetic sector alone, leaving SkinBioTherapeutics to focus on further applications of its technology in other sectors.

Under the terms of the agreement, all details about formulation, functionality and Croda's financial expectations remain confidential due to the competitiveness of the cosmetics market. However, management is fully confident in Croda Beauty's deep experience in launching new products. Any royalty revenues arising from future sales will be reported to the market at the appropriate time.

Based on management's baseline expectations for sales under the Croda agreement and new sources of revenue from recent acquisitions, Dermatonics and Bio-Tech Solutions, management expects to be cash flow positive from FY2025. Management therefore anticipates that no further raises for working capital will be required. Following the meetings with Croda, management can confirm that revenues will be received before year end.

Stuart Ashman, CEO of SkinBioTherapeutics will be discussing the recent news flow in a "fireside chat" with Elric Langton of Small Company Champion on Friday 29 November at 09.00 GMT on the Investor Meets Company Platform. For further details, please see below.

Stuart Ashman, CEO of SkinBioTherapeutics, said:

"We have finalised the commercial terms with Croda which are in line with our long standing expectations and we believe they represent a great deal for the Group. Furthermore, we have been deeply impressed with the experience and track record of the commercial team which includes the launch of multimillion pound blockbuster products such as Matrixyl and we are very confident in our partner's plans for the launch and commercialisation of SkinBiotix.

"As the commercial plan unfolds, management's baseline revenue expectations together with the financial contributions from our organic and new inorganic businesses (Dermatonics and Bio-Tech Solutions), mean we do not anticipate having to come back to the market for new funds for working capital purposes."


There will be a pre-recorded fireside chat between Stuart Ashman, CEO and Elric Langton of Small Company Champion issued via the Investor Meet Company platform at 09.00 GMT on Friday 29 November 2024. Following the interview, there will be the opportunity for investors to ask questions of Stuart Ashman.

The session is open to all existing and potential SkinBioTherapeutics shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 28 November 2024 or at any time during the session.

Investors who already follow SkinBioTherapeutics on the Investor Meet Company platform will automatically be invited. Investors can sign up to Investor Meet Company for free via this link.

[master rsi] 19/11/2024 08:25

FTSE

On the up with 23 points

[apotheki] 19/11/2024 07:51

SysGroup plc / LSE:SYS

Acquisition & Notice of Results

SysGroup plc (AIM:SYS), the technology partner for delivery and management of cloud, data, and security services to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, today announces its acquisition of the trade and assets of Crossword Consulting Limited ("CCL"), the consulting arm of Crossword Cybersecurity plc.

Acquisition

The Group is pleased to announce the acquisition of the trade and assets of CCL for cash consideration of £311,000, with a potential post conditional payment of £127,000. Based in London, CCL is a recognised leader in cybersecurity consulting, offering specialised services such as virtual CISO ("vCISO") support and Penetration Testing to medium and large enterprises.

This acquisition strengthens our capabilities with the addition of 12 seasoned cybersecurity consultants, who will expand SysGroup's customer offerings in cybersecurity and compliance. For the 12 months ending 30 September 2024, CCL delivered unaudited revenues of circa £2.4 million with more than 75% of revenues recurring. Additionally, CCL brings a diverse client base of customers, including FTSE 100, FTSE 250, and S&P-listed companies, which presents new cross-sell opportunities across multiple sectors.

Notice of results



SysGroup expects to publish its half year results for the six-month period ended 30 September 2024 on 3 December 2024.



Heejae Chae, Executive Chairman commented:


"This acquisition strengthens our strategy to become the partner of choice in our customers' AI journey and digital transformation by enhancing our cybersecurity capabilities and expanding into Compliance as a Service ("CaaS"). Crossword Consulting's expertise ensures that we can secure critical infrastructure, data, and processes - essential components for the successful adoption and scaling of AI. Their services, including Cyber Maturity Assessments and vCISO solutions, provide the compliance and risk mitigation needed to build trust in data-driven systems. By integrating these capabilities, we position ourselves to deliver comprehensive, secure, and innovative solutions that empower our customers to confidently embrace AI and drive their transformation agendas.

We are confident in our strategy and the progress achieved over the past months following our equity raise in June 2024. Our strong balance sheet positions us to effectively pursue strategic acquisitions such as CCL. Based on our current recurring revenue, the Board has good visibility that revenue levels will remain consistent with the prior year. Additionally, we are actively engaged in discussions regarding a number of high-potential contracts with both new and existing customers, which could unlock significant growth opportunities and drive revenue beyond our recurring base."

[master rsi] 19/11/2024 00:00

Oil prices settle higher on Norway output disruption, Ukraine-Russia tensions
Oil prices settled sharply higher Monday, underpinned by output disruptions at the Johan Sverdrup oilfield in Norway and increased intense fighting between Russia and Ukraine.

By 2.30 p.m. ET (1930 GMT), the U.S. crude futures traded 3.2% higher to settle at $69.16 a barrel and the Brent contract climbed 3.2% to $73.30 a barrel.

Output disruption in Norway boost oil prices
Norway's state-controlled Equinor said it had halted crude production at the Johan Sverdrup oil field following an onshore power outpage.

Disruptions to output at Johan Sverdrup -- Europe's highest producing oil field, is for about a quarter of all oil production in the North Sea -- comes at a time many are worried about a supply surplus next year amid plans from OPEC and non-OPEC to step up output.

“Persistent worries over the clouded demand outlook in China and ample global supply outlook for next year continue to restrict any major price gains,” said analysts at ING, in a note.

The benchmark contracts slid more than 3% last week on weak data from China and after the International Energy Agency forecast global oil supply will easily exceed demand in 2025 even if cuts remain in place from a group of top producers.

EIA data has shown that US oil production remains near record levels, but the market is now executing more following the announcement that Chris Wright, CEO of Liberty Energy, would be appointed as the next Secretary of Energy.

President-elect Donald Trump’s selection of Wright is seen as a strong signal of the incoming administration's focus on ramping up domestic fossil fuel production....

.... The latest positioning data showed that a fair amount of speculative selling in the benchmark contracts over the last week, noted ING.

"Speculators reduced 22,606 lots to the net long position, leaving them with a net long position of 103,539 lots as of last Tuesday. Money managers added gross shorts by 26,702 lots to 115,849 lots, the largest weekly increase since the September start,” said ING.

“Similarly, for NYMEX WTI, speculators decreased their net long by 18,043 lots over the week to 125,942 lots for the week ending on Nov. 12.”

[master rsi] 18/11/2024 23:01

U.S. shares mixed at close of trade; Dow Jones Industrial Average down 0.13%

Investing.com – U.S. equities were mixed at the close on Monday, as gains in the Consumer Goods, Telecoms and Oil & Gas sectors propelled shares higher while losses in the Healthcare, Industrials and Consumer Services sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 0.13%,
while the S&P 500 index gained 0.39%,
and the NASDAQ Composite index gained 0.60%.

The biggest gainers of the session on the Dow Jones Industrial Average were Boeing Co (NYSE:BA), which rose 2.63% or 3.68 points to trade at 143.87 at the close. International Business Machines (NYSE:IBM) added 1.51% or 3.10 points to end at 208.09 and Verizon Communications Inc (NYSE:VZ) was up 1.44% or 0.60 points to 42.25 in late trade.

Biggest losers included Nike Inc (NYSE:NKE), which lost 2.31% or 1.77 points to trade at 74.89 in late trade. Walt Disney Company (NYSE:DIS) declined 1.34% or 1.54 points to end at 113.54 and NVIDIA Corporation (NASDAQ:NVDA) shed 1.29% or 1.83 points to 140.15.

[master rsi] 18/11/2024 22:50

Big Yellow half-year profit improves over 20%

(Alliance News) - Big Yellow Group PLC on Monday reported an increase in half-year earnings, and the self-storage operator noted a recent improvement in occupancy.

Big Yellow said pretax profit in the six months to September 30 climbed 22% to GBP145.8 million from GBP1119.6 million. Revenue improved 3.4% to GBP103.0 million from GBP99.6 million.

"Although it is pleasing that we expect to return to earnings per share growth in the second half, we have always been more focussed on the longer term. We will grow revenue through incrementally increasing occupancy levels from our existing store platform, alongside driving efficiencies across the business through investment in automation. Furthermore, and critically, we are fully committed to capturing the opportunity of the revenue and earnings growth from our store pipeline, most of which is now in the construction phase," Executive Chair Nicholas Vetch said.

Big Yellow declared a 22.6 pence interim dividend, unmoved from a year prior.

Shares in the company closed 1.8% lower at 1,152.42 pence each in London on Monday.

[master rsi] 18/11/2024 22:24

Boohoo retail share offer attracts less support than hoped

Boohoo group PLC - Manchester-based owner of PrettyLittleThing, Karen Millen and Debenhams - Raises GBP400,000 via retail offer. Had hoped to raise GBP6.0 million. Says the clawback placing shares and a portion of the subscription shares will be clawed back in the aggregate amount of just under 1.3 million shares in order to satisfy the retail offer.

This concludes fund raise which raises total GBP39.3 million via placing, subscription and retail offer.

Current stock price: 29.66 pence