Upstream Share Discussion Threads

[master rsi] 25/11/2024 10:51

Dialight laments fluctuating demand, labour shortages as loss widens

(Alliance News) - Dialight PLC on Monday provided a cautious outlook for capital expenditures, reporting an increased loss amid labour shortages and high underlying inflation.

The London-based heavy industrial LED lighting company said its pretax loss ballooned to USD20.8 million in the six months to September 30 from USD6.6 million a year ago.

Revenue fell 0.8% to USD90.3 million from USD91.0 million.

Notably, administrative expenses increased 97% to USD34.4 million from USD17.5 million.

Non-underlying costs increased to USD25.4 million from USD2.0 million.

Looking ahead, Chief Executive Officer Steve Blair said: "The current state of the economies in which we operate provides a cautious outlook for capital expenditures across various sectors.

"High underlying inflation and ongoing labour shortages are major constraints, causing delays in project timelines and deferring investment decisions. The petrochemical industry, in particular, faces additional uncertainty due to fluctuating demand and unpredictable energy prices."

Earlier this month, Dialight announced the immediate departure of then-chief financial officer Carolyn Zhang.

In September last year, Clive Jennings resigned as CFO with immediate effect at the time.

Shares in Dialight fell 6.2% to 122.00 pence on Monday morning in London.

[master rsi] 25/11/2024 10:10

Shares in Benchmark jump after up to GBP260 million Genetics unit sale
(Alliance News) - Benchmark Holdings PLC on Monday said it would use proceeds from the sale of its Genetics business to return capital to shareholders and reduce debt.

The Sheffield, England-based company is selling Benchmark Genetics Ltd and Benchmark Genetics Norway AS to Starfish Bidco AS, a wholly owned subsidiary of Novo Holdings AS, for an enterprise value of up to GBP260 million.

Benchmark will receive an initial GBP230 million plus a further contingent payment of GBP30 million, subject to certain revenue-based targets.

The firm said the disposal price represents a multiple of 17.9 times adjusted earnings before interest, taxes, depreciation and amortisation.

Benchmark said the sale will enable it to focus on its Advanced Nutrition and Health business areas. In addition, the disposal will streamline the current structure to significantly reduce costs, the firm added.

In response, shares in Benchmark jumped 8.1% to 38.20 pence each in London on Monday morning.

Benchmark said proceeds will be used to return capital to shareholders and reduce leverage.

An unsecured floating rate listed green bond and drawn amounts under the revolving credit facility provided by DNB Bank ASA will be repaid in full, it said.

Completion of the sale is expected during the first quarter of 2025 and concludes a strategic review announced in January.

The deal needs to be approved by shareholders at a general meeting, Benchmark said. Shareholders representing just over 71% of the total share capital have already backed the proposal.

Chief Executive Trond Williksen said the deal will unlock "significant value and enable us to return capital to shareholders".

"The disposal will also allow us to focus all our efforts on developing the significant potential of our continuing business areas, Advanced Nutrition and Health."

Benchmark said it intends to release full year results for the 12 months ending September on December 12.

[master rsi] 25/11/2024 09:32

Christmas hiring boost for UK jobs market – report

(Alliance News) - Seasonal work in the run-up to Christmas has boosted the jobs market in the UK in recent weeks, according to new research.

Around 23,000 Christmas jobs are on offer in sectors including retail, catering, hospitality and construction, said jobs site Adzuna.

The total number of vacancies fell slightly in October and at a much lower rate than earlier this year, said the report.

Average advertised pay has increased for five months in a row to over GBP39,000, while there are two jobseekers for every vacancy, according to Adzuna.

It added that for the first time in more than a year, sales assistants were the most in-demand job on Adzuna's site, taking over from warehouse work.
There is also a strong demand for social care workers.

Andrew Hunter of Adzuna said there had been a "challenging" start to the year for job vacancies.

"The second half of the year has shown signs of recovery and resilience. This October, we saw the first positive six-month change in vacancy numbers.
"Driven by preparations for the busy Christmas shopping season, sectors like trade and construction and retail are ramping up hiring."

[master rsi] 25/11/2024 09:05

UK spies to counter Russian cyber warfare threat with AI security lab
(Alliance News) - British spies will seek to counter the threat of Russian cyber warfare with a new laboratory for artificial intelligence, a minister will announce, as he insists Vladimir Putin will fail to deter support for Ukraine.

Chancellor of the Duchy of Lancaster Pat McFadden will say the UK and its Nato allies are "watching" Moscow and combatting its attacks both publicly and "behind the scenes" as he delivers a major speech on Monday.

In an apparent reference to the lead-up to the Second World War, he will warn that the UK "learned long ago" to not appease dictators and that Putin "will not be successful" in attempting to weaken backing for Ukraine.

McFadden, whose brief includes national security, will also announce a new Laboratory for AI Security Research, or LAISR, aimed at helping the UK stay ahead in "the new AI arms race".

The centre will bring together GCHQ, Oxford University, the National Cyber Security Centre, the Alan Turing Institute and numerous Government departments, and be backed by an initial GBP8.22 million in state funding.

Speaking at the Nato cyber defence conference at Lancaster House, McFadden will say: "Be in no doubt: the UK and others in this room are watching Russia. We know exactly what they are doing, and we are countering their attacks both publicly and behind the scenes.

"We know from history that appeasing dictators engaged in aggression against their neighbours only encourages them. Britain learned long ago the importance of standing strong in the face of such actions.

"That's why we support Ukraine in its fight to decide its own destiny. Putin is a man who wants destruction, not peace. He is trying to deter our support for Ukraine with his threats. He will not be successful."

McFadden will also warn that cyber interference enables Russia to "turn the lights off for millions of people" by shutting down power grids and represents the "hidden war" it is waging against Kyiv.

But while AI can amplify existing cyber threats, it can also create better defence tools for security agencies to use to collect, analyse, and produce more useful intelligence, he will say.

"Cyber war is now a daily reality," McFadden is expected to tell allies.

"One where our defences are constantly being tested. The extent of the threat must be matched by the strength of our resolve to combat it and to protect our citizens and systems."

He will add: "AI is already revolutionising many parts of life – including national security. But as we develop this technology, there's a danger it could be weaponised against us. Because our adversaries are also looking at how to use AI on the physical and cyber battlefield."

Alongside the new laboratory, the minister will also announce a new GBP1 million incident response scheme designed to share expertise so that allies can counter cyber attacks more effectively.

McFadden and senior national security officials will also meet business leaders next week to discuss how they can protect themselves as he warns Russia will "not think twice" about targeting British firms.

The intervention comes amid a dramatic escalation in tensions between Russia and the west, with Putin lowering Moscow's threshold for the use of nuclear weapons and suggesting the Ukraine war is becoming a "global" conflict.

The Russian leader has said he is entitled to target the military facilities of countries which have supplied weapons to Kyiv.

On Thursday, Moscow used a new ballistic missile in Ukraine, which Putin said was in response to the UK and US allowing missiles they have supplied to be used to strike targets in Russia.

Ministers have declined to explicitly confirm that British missiles have been used across the border, but the UK is widely believed to have allowed its Storm Shadow weapons to be used by Ukrainian forces within the Kursk region.

Meanwhile, the US has given permission for its ATACMS weapons to be fired at targets in Putin's country.

Moscow sent 73 drones into Ukraine overnight into Sunday. According to Ukraine's air force, 50 drones were destroyed and four lost, likely having been electronically jammed.

In Russia, the defence ministry said 34 Ukrainian drones were shot down overnight into Sunday in four regions of western Russia, including Kursk, Lipetsk, Belgorod and one over the Oryol region.

[master rsi] 25/11/2024 08:46

KEEP an EYE

GGP 7.25p +0.35p

A good move up for the stock and continuing with last week's surge
--------------- Intraday ----------------------------------- 2 months --------------------------------------- 1 year ---------------
INDICATORS

[master rsi] 25/11/2024 08:40

AstraZeneca reports positive results from prostate cancer trial

(Sharecast News) - AstraZeneca announced positive results from a phase three prostate cancer trial on Monday, reporting that its AKT inhibitor 'Truqap', or capivasertib, in combination with abiraterone and androgen deprivation therapy (ADT), significantly improved radiographic progression-free survival (rPFS) in patients with PTEN-deficient metastatic hormone-sensitive prostate cancer (mHSPC).

The FTSE 100 pharmaceutical giant said it marked the first time an AKT inhibitor combination had shown clinical benefit in that subtype of prostate cancer.

It said the trial's primary endpoint was met, with the Truqap combination outperforming a placebo combination of abiraterone and ADT in reducing disease progression.

Although overall survival (OS) data remained immature, an early trend toward improved OS was seen.

AstraZeneca said it would continue to monitor OS as a key secondary endpoint.

It said prostate cancer is the second most common cancer among men and a significant global health concern, with metastatic forms linked to particularly poor outcomes.

[master rsi] 25/11/2024 08:28

FTSE

On the up with 26 points ...

Stocks rise as investors welcome Trump's Treasury Secretary appointment

(Sharecast News) - London stocks rose in early trade on Monday as investors welcomed US President-elect Donald Trump's decision to appoint billionaire fund manager Scott Bessent as Treasury Secretary.

At 0820 GMT, the FTSE 100 was up 0.4% at 8,296.04.

Patrick Munnelly at Tickmill Group said: "The general investor sentiment is satisfaction that Bessent is a well-known candidate rather than an unknown one. Bessent's fiscally conservative rhetoric has pushed 10-year Treasury yields lower, but it is unclear if he will be able to reduce deficits while extending tax cuts that are about to expire.

[apotheki] 25/11/2024 07:40

KAVANGO RESOURCES PLC / LSE:KAV

ZIM - Prospect 3 Resource Drilling Commences

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the commencement of a drilling programme at its Prospect 3 target ("Prospect 3") at the Hillside Gold Project ("Hillside") in Matabeleland, southern Zimbabwe.

The drilling programme is designed to delineate a mineral resource to form the basis for an open pit mine, and to obtain sufficient sample to conduct metallurgical test work.

Following an in-country strategic review, which included a site visit with the Company's Technical Team, senior geologists and an international mining engineer, Kavango has ranked Prospect 3 as its priority project in Zimbabwe. The Company believes Prospect 3 has the highest potential to commence commercial production in the shortest amount of time, and with the lowest capital entry.

Highlights

· Kavango has compiled and modelled its geological and geophysical exploration data at Prospect 3 and incorporated mapping of gold producing artisanal workings here. The Company believes this work demonstrates the potential for commercial scale, mechanised open-pit mining and heap leach processing at the prospect.

· The initial high priority target area averages 200m across strike and 100m along strike, in the vicinity of hole NSDD0002.

· Artisanal miners are currently producing gold from 12 surface workings with at least 2 different vein orientations, from oxidized meta-sediments above a granodiorite intrusive next to NSDD0002.

· Hole NSDD002 also intersected an additional 9 grading structures under deeper cover that are currently not being worked.

· The Company has drilled 3 exploration holes into the target area at Prospect 3. Near-surface highlights from these holes include:

o 1.00m @ 1.13 grams per tonne ("g/t") from 14.00m at Hole NSDD001

o 2.00m @ 1.21 g/t from 6.00m at Hole NSDD002

o 1.00m @ 1.77 g/t from 13.00m at Hole NSDD002

o 8.20m @ 3.08 g/t from 66.69m at Hole NSDD002

o 1.00m @ 2.08 g/t from 28.00m at Hole NSDD03

· Kavango has engaged an international mining engineer, who has extensive experience in modern mining techniques and processes, to oversee the design and construction of the open-pit and heap-leach processing operation at Prospect 3 once the mineral resource has been established.

Ben Turney, Chief Executive of Kavango Resources, commented:

"The high level of artisanal workings across Prospect 3 is strongly indicative of the area's potential for larger scale, near surface gold deposits that Kavango can mine.

The artisanal workings have focussed on higher-grade material, but to a limited and shallow extent. Our exploration team has identified much more extensive potential, which we will now test with a focussed drill campaign to develop a maiden mineral resource here.

Assuming this drill campaign is successful, we expect to move to a pre-mining, grade control drill campaign and metallurgical test work.

[master rsi] 24/11/2024 23:32

Russia prepared to launch cyber attacks on UK, minister to warn
(Alliance News) - Russia is prepared to launch a series of cyber attacks on Britain and other Nato members as it seeks to weaken support for Ukraine, a senior Cabinet minister will warn in a major speech next week.

Moscow will "not think twice" about exploiting defence gaps to target UK businesses, and allies must "not underestimate" the threat it poses, Chancellor of the Duchy of Lancaster Pat McFadden will say.

McFadden will also warn that cyber interference enables Russia to "turn the lights off for millions of people" and represents the "hidden war" it is waging against Kyiv, as first reported by the Sunday Telegraph.

In a speech to the Nato Cyber Defence Conference at Lancaster House, the minister is expected to say: "Military hard-power is one thing. But cyber war can be destabilising and debilitating. With a cyber attack, Russia can turn the lights off for millions of people. It can shut down the power grids. This is the hidden war Russia is waging with Ukraine."

He will add: "Given the scale of that hostility, my message to members today is clear: no one should underestimate the Russian cyber threat to Nato. The threat is real. Russia is exceptionally aggressive and reckless in the cyber realm."

McFadden is expected to specifically call out Unit 29155, a Russian military unit that the government says was previously found to have carried out a number of attacks in the UK and Europe.

There are gangs of "unofficial hacktivists" and mercenaries not directly under the Kremlin's control "but who are allowed to act with impunity so long as they're not working against Putin's interests", he will say.

It comes after South Korea, a Nato Indo-Pacific partner, was targeted in response to its monitoring of the deployment of North Korean troops to Kursk, where Russia is fighting against Ukraine.

The attack has been widely attributed to a pro-Kremlin cyber gang, with McFadden warning that such groups act with "disregard" for geopolitics and "with just one miscalculation could wreak havoc on our networks".

"Russia won't think twice about targeting British businesses in pursuit of its malign goals. It is happy to exploit any gap in our cyber or physical defences," he will add.

"It means making sure that businesses and other civilian organisations are doing everything they can to lock their own digital doors. Their security is our security."

The Cabinet Office minister is expected to set out details of how the UK will seek to boost its protections against emerging cyber threats in a speech on Monday, as well as how the country is stepping up work with Nato allies.

He and senior national security officials will also meet business leaders next week to discuss how they can protect themselves.

[master rsi] 24/11/2024 22:49

GGP 6.85p - Greatland all-in on Australian gold
Exploring Greatland Gold: Opportunities and Risks for Retail Investors

Greatland Gold plc stands on the brink of a transformative moment in its journey from an exploration-focused small-cap to a major Australian gold and copper producer. At the heart of this transition is the company’s ambitious plan to consolidate ownership of the Havieron gold-copper project and the nearby Telfer mine, two cornerstone assets located in Western Australia’s resource-rich Paterson Province. For investors, Greatland offers a compelling mix of opportunity and uncertainty, making it a company worth watching—and carefully considering.

Havieron and Telfer: Cornerstones of Growth

Discovered in 2018, the Havieron project has emerged as a world-class underground gold-copper deposit. Boasting 8.4Moz gold equivalent resources as of December 2023, Havieron represents a rare find in an increasingly competitive global mining sector. Its proximity to the Telfer processing plant, just 45km away, creates synergies that significantly reduce development costs and operational risks.

Greatland’s move to consolidate 100% ownership of Havieron and acquire the Telfer mine from Newmont Corporation is pivotal. Scheduled for completion by late 2024, this acquisition not only brings existing production and cash flow from Telfer but also secures the infrastructure needed to bring Havieron into full-scale production. The acquisition positions Greatland as a vertically integrated operator, capable of leveraging Telfer’s processing facilities while avoiding the capital outlay of building new infrastructure from scratch. This strategic advantage could accelerate Havieron’s timeline to profitability, a major milestone expected in 2025.

Exploration and Broader Ambitions

While Havieron and Telfer form the backbone of Greatland’s immediate growth, its ambitions stretch far beyond these flagship assets. The company holds an extensive exploration portfolio spanning 4,500km², with notable projects such as Paterson South (in partnership with Rio Tinto), the Juri JV, and Scallywag.

This exploration strategy reflects Greatland’s long-term goal of becoming a multi-mine resources company, with a diversified portfolio of precious and base metals. Partnerships with major players like Rio Tinto and Newmont enhance its access to advanced geological data and exploration expertise, bolstering its ability to unlock new mineral resources in underexplored regions.

Financial Strength and Execution Risk

Financially, Greatland has demonstrated an ability to secure substantial funding, raising US$325 million through an equity placement earlier this year. This capital injection ensures the company can finance the Havieron-Telfer acquisition and fund ongoing development without immediate liquidity concerns. However, the high debt-to-equity ratio of 82% raises some red flags, particularly for risk-averse retail investors. While manageable in the context of expected future cash flows, this level of leverage introduces sensitivity to fluctuations in commodity prices and operational disruptions.

The integration of Telfer’s operations and workforce adds another layer of complexity. Successfully managing this transition, alongside the development of Havieron, will require seamless execution. Any delays in dewatering challenges at Havieron, further regulatory hurdles, or operational missteps could erode investor confidence and impact near-term stock performance.

Risks for Investors

For retail investors, Greatland’s journey presents both exciting opportunities and notable risks. The company’s reliance on high commodity prices—particularly gold and copper—leaves it exposed to market volatility. A dip in global demand for these metals could strain profitability, especially given the company’s significant financial commitments. Additionally, Greatland’s valuation remains heavily tied to the success of its exploration programs. While the Paterson Province is highly prospective, exploration is inherently uncertain, with no guarantee of commercially viable discoveries.

Shareholder dilution is another factor to consider. Recent equity raises have significantly increased the company’s share count, potentially diluting future gains for existing investors. Although these funds are being put to strategic use, dilution remains a downside for those looking at short-term returns.

The Case for Optimism

Despite these risks, Greatland’s prospects are undeniably compelling. The Havieron deposit’s exceptional grades and scalability, combined with the Telfer mine’s near-term cash flow, create a strong foundation for growth. Moreover, Greatland’s leadership team has a proven track record of executing large-scale projects, and its collaborative approach with partners like Newmont and Rio Tinto enhances its credibility.

The potential for significant shareholder returns lies in Greatland’s ability to deliver on its vision of becoming a multi-mine operator. If the company can integrate its assets, manage debt effectively, and achieve its exploration goals, it could emerge as one of Australia’s leading mid-tier miners.

A Balanced Perspective

For retail investors, Greatland Gold is a classic high-risk, high-reward opportunity. The company’s transformative strategy and high-quality assets position it for substantial upside, particularly as it nears profitability. However, the risks—ranging from commodity price fluctuations to operational challenges—should not be underestimated. Greatland’s stock may appeal most to investors with a higher risk tolerance and a long-term outlook, as the coming years will be critical in determining whether the company can fulfill its ambitious potential.

In a market where few small-cap miners boast the same combination of flagship assets and exploration upside, Greatland offers an intriguing case. As with any investment, due diligence is key, and investors should weigh the company’s strengths against the inherent uncertainties of the mining sector. For those willing to embrace the volatility, Greatland could offer a golden opportunity.
video ...

[master rsi] 24/11/2024 22:07

Nationwide bags £2bn on Virgin Money deal and boost could trigger windfall for customers
By JOHN-PAUL FORD ROJAS - Mail on Sunday

Nationwide will this week bank a gain of around £2 billion on its bargain £2.9 billion takeover of Virgin Money – in a boost that is likely to trigger a windfall for customers.

Britain's biggest building society, run by chief executive Debbie Crosbie, is expected to disclose the figure in its half-year results on Wednesday.

The extra financial firepower will also result in turbo-charged investment in the combined business.

The mutual has begun a hiring spree, taking on around 500 new staff in customer service and tech operations, as well as investing in IT, The Mail on Sunday understands.

Millions of members are also in line for more 'fairer share' perks.

The building society has previously given £100 to eligible members as a way of sharing its profits with customers since it doesn't pay dividends to shareholders.

Last year it paid out £385 million to 3.85 million members, up from £344 million the year before. Next year's payment is now expected to be the largest ever.

[master rsi] 24/11/2024 20:47

SUNDAY PAPERS

Business and economics

Mail on Sunday: Britain's biggest retailers are demanding an urgent overhaul of business rates amid fears more than 17,000 shops could close over the next decade unless the hated system is reformed.

Mail on Sunday: Nationwide will this week bank a gain of around £2bn on its bargain £2.9bn takeover of Virgin Money - in a boost that is likely to trigger a windfall for customers.

The Observer: Donald Trump has chosen Scott Bessent, a longtime hedge-fund investor who taught at Yale University for several years, as his pick for treasury secretary, a statement from Trump confirmed on Friday.

Mail on Sunday: Allan Leighton is to make a comeback as boss of Asda as the private equity-backed supermarket tries to turn itself around.

The Sunday Times: Accounting giant PWC will pay £35,000 more for each of its partners after Rachel Reeves’s budget, amid downturn and job cuts at professional services firms.

The Observer: The Daily Mirror is to merge its staff with those on the celebrity title OK! magazine in the latest move by the UK’s largest commercial news publisher to further cut costs.

The Sunday Telegraph: The university watchdog has drafted in a team of insolvency experts amid growing concerns over the financial health of Britain’s troubled higher education sector.

The Sunday Telegraph: The NHS will be pushed to help solve the worklessness crisis under Government plans to have Britons offered more opportunities to train and work in the health service.

[master rsi] 24/11/2024 20:27

SUNDAY PAPERS

Top stories

The Sunday Times: London City, Birmingham and Bristol airports are up for sale as their Canadian pension fund owner capitalises on a resurgence of air travel by offloading a portfolio of European aviation assets that could be worth in excess of £10bn.

The Observer: Rich and poor countries concluded a trillion-dollar deal on the climate crisis in the early hours of Sunday morning, after marathon talks and days of bitter recriminations ended in what campaigners said was a ‘betrayal̵7;.

[master rsi] 23/11/2024 21:38

SFOR 35.56p +0.16 (0.45%)

A good move up from the 30p floor.

[master rsi] 23/11/2024 21:11

TODAY'S PAPERS
The Daily Telegraph's lead says Donald Trump is considering sanctions against the International Criminal Court, external, in response to its arrest warrant for Israel's Prime Minister Benjamin Netanyahu.

The paper's editorial column is troubled by the ICC's decision, external, taken on the basis that Israel might have committed war crimes in its conflict with Hamas. The Telegraph argues that it "raises worrying questions" for other democratic countries, including the UK, which could find themselves engaged in war.

But the Guardian has no such reservations. Under the headline "accountability for war crimes is necessary for meaningful global justice", external, it suggests the move ends what the paper describes as "decades of impunity" for Israel's leadership. And it describes the issuing of the warrants for Netanyahu and his former Defence Minister Yoav Gallant as a signal that "even the most powerful nations must answer for breaches of humanitarian law".

"Private sector shrinks after Labour Budget" is the Daily Mail headline, external. The paper says that more than 80 retail bosses have written to Chancellor Rachel Reeves, warning that her decision to raise employers' National Insurance contributions "will cost jobs and lower wages".

The i Weekend warns that there's been a "surge" in hospital admissions, external involving people who've had negative reactions to weight-loss drugs. It reports there's been a surge in the number bought online, adding that there have been nearly 15,000 "adverse reactions" linked to the injections, according to the Medicines and Healthcare products Regulatory Agency. The paper says experts are particularly worried about black market jabs, sometimes sold on social media.

"King to tour India" is the Daily Mirror's lead, external, reporting that such a trip is a sign that his recovery from cancer is "going well". The paper quotes an unnamed royal source, saying that a tour of the Indian subcontinent will be "of huge political and cultural significance for Britain on the world stage".

The Sun has the Princess of Wales on its front page. It says Kate has invited survivors of the Southport mass stabbing - and the families of those who died - to her Christmas carol concert at Westminster Abbey, external. The headline is: "Kate's gift of love".

Finally, the Times pops the cork on the return of a wine craze that "readers of a certain vintage" will remember, external. In the 1970s and 1980s, fans of Beaujolais Nouveau, believed to be the world's most rapidly bottled and drunk wine, would rush to bring the latest vintage to the UK from France.

But over the years "Beaujolais Nouveau Day" fell out of favour. The paper reports that it's making a comeback, as connoisseurs learn to appreciate the wine's "light and fruity" qualities.

[master rsi] 23/11/2024 20:22

TODAY'S PAPERS
'Business blames budget' and 'UK economy takes hit'
Several front pages lead with the UK economy taking a hit, with the Times reporting on a new survey of businesses which shows private sector activity falling to a 13-month low. The paper reports businesses had "given a thumb's down" to the government's choice to increase employer National Insurance contributions in the Budget.

The FT Weekend also leads with the survey results, reporting that the private sector has "warned that confidence in the Labour government has been badly damaged". The pound fell to its weakest level against the dollar since May following the release of the new data, the paper adds.

Labour has been "accused of wrecking UK growth" by the Conservatives, according to the Daily Mail's front page. The paper says the poor outlook comes following Chancellor Rachel Reeves's decision to carry out a "damaging tax raid" on businesses, which a Tory shadow minister described as a part of "Labour's Budget of broken promises".

[master rsi] 22/11/2024 23:52

Best performing shares ( UPS ) during NOVEMBER


Share
Mid
Highest
% Change
Rank


GGP
5.30
7.05
33.02
1


HE1
O.875
1.085
24.00
2


SBTX
14.625
16.75
14.53
3


IQE
11.60
12.80
10.34
4


SFOR
34.81
36.43
4.65
5


RGL
128.20
133.25
3.94
6


SDY
32.875
33.40
1.60
7

[master rsi] 22/11/2024 23:29

IQE 11.74p +1.26 (12.02%)

Looking good in the days ahead

[master rsi] 22/11/2024 23:03

Dow hits new high after upbeat economic data
Fri, 22nd Nov 2024 21:43Sharecast News

(Sharecast News) - Us stocks finished higher on Friday with the Dow Jones Industrial Average rising 1% to reach a new record closing high as incoming economic data lifted market sentiment.

With just two of its 30 constituents in the red, the Dow rose for the third straight session, gaining 426.16 points to settle at 44,296.51, surpassing a previous peak set on 11 November.

The S&P 500 meanwhile finished higher for the fifth consecutive day, rising 0.4% to 5,969.34, while the Nasdaq edged 0.2% higher to 19,003.65.

On the macro front, a preliminary reading of S&P Global's November manufacturing PMI increased to 48.8 points in November, up from 48.5 in October, while the services PMI increased more than expected to 57 points, up from 55 a month earlier.

As a result, S&P's composite PMI rose to 55.3, up from 54.1, indicating the strongest rate of growth since April 2022.

"The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high," said Chris Williamson at S&P Global Market Intelligence. "The prospect of lower interest rates and a more pro-business approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November."

Elsewhere, the University of Michigan's consumer sentiment index was downwardly revised to 71.8 in November from a preliminary reading of 73 but remained the highest reading seen in the last seven months.

[master rsi] 22/11/2024 22:32

BTC/BITCOIN $99,172.56 +658.95 +0.67%

Getting very close to the $100K but not yet there

[master rsi] 22/11/2024 22:17

DOW

With a very good finish 426 points UP