Upstream Share Discussion Threads

[master rsi] 06/11/2024 22:11

DOW

Finishing with a fantastic rise of 1508 points UP

[master rsi] 06/11/2024 17:37

GOLD -$79 or 2.80%
and SILVER much the same

Have gone Kaput today
Intraday ---- Gold -------------- Silver ---------------- Copper -----


1 month ----- Gold ---------------- Silver --------------- Copper -----

[master rsi] 06/11/2024 16:44

How the UPS are performing during last month

[master rsi] 06/11/2024 16:23

How the UPS are performing today

[master rsi] 06/11/2024 16:14

Totally swings to half-year profit despite market challenges

(Alliance News) - Totally PLC on Wednesday reported a swing to interim profit as it maintained its full-year guidance.

The Derby, England-based provider of healthcare and wellbeing services across the UK and Ireland reported a 25% decline in revenue in the half-year to September 30 to GBP41.7 million from the GBP55.8 million a year prior. It was an outcome in line with board expectations.

However, the AIM-listed firm swung to a modest pretax profit of GBP5,000, from a loss of GBP1.9 million the previous year, despite continued wage pressures serving as a drag.

Totally confirmed six new contracts valued at GBP7.5 million during the period, all of which will be realised within the current financial year. A further 14 were renewed at a total value of GBP19 million.

Cost of sales for the firm fell 25% to GBP34.5 million from GBP46.1 million a year prior, helping its bottom line.

Totally reported a reduction in gross cash for the interim period, down 18% to GBP1.4 million from GBP1.7 million.

[master rsi] 06/11/2024 15:57

FTSE 100 movers: CRH and Ashtead rally; Persimmon in the red
(Sharecast News) - London's FTSE 100 was flat at 8,168.57 in afternoon trade on Wednesday.

Building materials group CRH and equipment rental firm Ashtead, both of which have significant exposure to the US, were among the top gainers after Donald Trump won the US election.

Russ Mould, investment director at AJ Bell, said Ashtead shares were racing ahead "on the prospect of more building work created by Trump's desire to drive the US economy including greater manufacturing and construction work".

He added: "As a hirer of construction equipment, it is a direct play on hammers and tools pounding away across the country."

3i Group was boosted by an upgrade to 'buy' at Deutsche Bank.

On the downside, Persimmon fell as it said housing completions dipped slightly in the third quarter and the company warned of rising building costs heading into 2025.

Other housebuilders followed suit, with Taylor Wimpey, Barratt Redrow and Berkeley also down.

Smith & Nephew was weaker after Berenberg downgraded the shares to 'hold' from 'buy' and cut the price target to 1,050p from 1,450p after a disappointing third-quarter update last week.

"While growth in the US Orthopaedics business improved in Q3, it still lagged peers, and headwinds in China have led to guidance downgrades for 2024E and 2025E. Given these challenges, we are uncertain about whether we will see a significant improvement in the company's financials over the next 12 months," Berenberg said.

"More than two years into the company's turnaround plan, the slow pace of recovery somewhat calls into question the level of improvement we can expect from management's 12-point plan in the medium term."

FTSE 100 - Risers

CRH (CDI) (CRH) 7,834.00p 5.92%

InterContinental Hotels Group (IHG) 8,996.00p 5.17%

Ashtead Group (AHT) 6,266.00p 4.99%

3i Group (III) 3,494.00p 4.61%

Flutter Entertainment (DI) (FLTR) 18,285.00p 4.58%

Smith (DS) (SMDS) 582.50p 4.48%

Entain (ENT) 758.00p 4.26%

Pershing Square Holdings Ltd NPV (PSH) 3,586.00p 3.76%

BAE Systems (BA.) 1,326.00p 3.59%

WPP (WPP) 864.40p 3.40%

FTSE 100 - Fallers

Persimmon (PSN) 1,359.50p -7.58%

Antofagasta (ANTO) 1,696.00p -5.38%

Fresnillo (FRES) 689.50p -5.22%

Smith & Nephew (SN.) 921.00p -4.68%

Intertek Group (ITRK) 4,564.00p -3.75%

BT Group (BT.A) 142.50p -3.32%

Taylor Wimpey (TW.) 141.30p -2.95%

Barratt Redrow (BTRW) 436.70p -2.70%

British Land Company (BLND) 386.00p -2.67%

Berkeley Group Holdings (The) (BKG) 4,296.00p -2.27%

[master rsi] 06/11/2024 15:05

DOW

Opening with 1240 points higher

[master rsi] 06/11/2024 14:15

Wynnstay Properties interim profit grows amid higher passing rents

(Alliance News) - Wynnstay Properties PLC on Wednesday said profit increased during the first six months of its most recent financial year, as higher passing rents and new lettings drove revenue growth.

The Powys, Wales-based agricultural and specialist merchanting firm said pretax profit for the six months that ended September 29 grew 25% to GBP824,000 from GBP658,000 last year. Property income rose 17% to GBP1.4 million from GBP1.2 million.

Net asset value per share on September 29 was 1,142 pence, up 2.5% from 1,114p a year ago.

The growth in property income reflected "higher passing rents negotiated on rent reviews, new lettings and changes in the portfolio arising from acquisitions and disposals", the company said.

Wynnstay declared an interim dividend of 10.0p per share, which was up 5.3% from 9.5p last year.

Chair Philip Collins said: "Looking forward, the economic outlook will now be largely determined by the emerging plans, policies and priorities of the new government on growth, job creation, spending, taxation and debt. At the present time, their impact on the UK economy is uncertain. External events, such as the conflicts in Ukraine and the Middle East may also impact the UK economy, notably in relation to energy prices. Against this uncertain background, the board remains cautiously positive about the current outlook for Wynnstay's business."

[master rsi] 06/11/2024 12:50

MARKET REPORT
LONDON MARKET MIDDAY: Stocks up after Donald Trump's shock victory

(Alliance News) - Stock prices in London remained higher at midday on Wednesday as markets digested the surprisingly speedy news that Donald Trump, along with policies likely to stoke higher inflation, will be re-entering the White House.

"The dollar strengthened and ten-year Treasury yields jumped to 4.406% on the assumption that Trump's policies will stoke inflation and require interest rates to stay higher for longer," commented AJ Bell's Russ Mould, before the Republican's victory was confirmed. "Trump's desire to cut taxes and make things easier for businesses to operate should in theory give a near-term tailwind to US shares, with futures prices implying a strong opening to Wall Street later."

However, he added: "The impact of higher inflation on corporate profit margins, and how interest rates might not come down as fast as previously expected, are real risks for investors to consider once the dust settles."

The FTSE 100 index was up 79.23 points, 1.0%, at 8,251.62. The FTSE 250 was up 199.71 points, 1.0%, at 20,569.75, and the AIM All-Share was up 3.85 points, 0.5%, at 740.14.

"The FTSE 100 jumped 1.5% in early trading, led by a mixture of industrial, financial and pharmaceutical companies," Mould recalled. "US-focused Ashtead raced ahead on the prospect of more building work created by Trump's desire to drive the US economy including greater manufacturing and construction work. As a hirer of construction equipment, it is a direct play on hammers and tools pounding away across the country."

At midday Ashtead was indeed the index's biggest winner, gaining 6.2%.

Smith & Nephew meanwhile lost 2.9%.

The medical device company was cut from 'buy' to 'hold' by Berenberg earlier on Wednesday.

On the FTSE 250, JD Wetherspoon was up 2.8%.

The pub operator said food and drink sales rose in the 14 weeks to the start of November, outperforming competitors with total sales growth of 4.6% and like for like sales rising 5.7%.

However Wetherspoon warned of rising costs in the coming year, blaming this on the recent UK government budget.

The Cboe UK 100 was up 1.1% at 827.31, the Cboe UK 250 was up 0.5% at 18,105.11, and the Cboe Small Companies was up 0.2% at 16,397.89.

Among smaller companies, Allergy Therapeutics lost 1.1%.

Revenue fell 7.4% to GBP55.2 million, hurt by "supply constraints" in "key markets" Germany and Spain. However, reduced administrative expenses saw the pretax loss narrow to GBP39.2 million from GBP41.8 million the year before.

Elsewhere in the UK, the headline S&P Global construction purchasing managers' index fell to 54.3 points in October from 57.2 in September, falling short of the 56.0 consensus.

Housebuilding fell into contraction territory, with the sub-index dropping sharply to 49.4 from 54.3 points.

In European equities on Wednesday, the CAC 40 in Paris was up 1.1%, while the DAX 40 in Frankfurt was up 0.7%.

Eurozone business activity performed better than anticipated in October despite demand presenting a drag for service providers.

The HCOB eurozone composite purchasing managers' output index stood at a neutral 50.0 in October, improving from 49.6 in September. It outperformed the flash reading of 49.7 posted on October 24.

The eurozone services PMI business activity index improved to 51.6 in October from 51.4 in September, indicating growth accelerated. It beat the flash reading of 51.2.

Ireland's unemployment rate, meanwhile, ticked up a notch in October while September's was revised downwards.

The jobless rate increased to 4.2% in October from 4.1% in September. However, September's rate was downwardly revised from a previously reported 4.3%.

The pound was quoted at USD1.2853 at midday on Wednesday in London, lower compared to USD1.3003 at the equities close on Tuesday. The euro stood at USD1.0703, down against USD1.0917. Against the yen, the dollar was trading at JPY154.21, higher compared to JPY152.08.

Stocks in New York were called higher. The Dow Jones Industrial Average was called up 2.9%, the S&P 500 index up 2.2%, and the Nasdaq Composite up 1.6%.

Brent oil was quoted at USD74.50 a barrel at midday in London on Wednesday, down from USD76.10 late Tuesday.

Gold was quoted at USD2,702.06 an ounce, lower against USD2,736.94.

"Commodities could remain under pressure given Trump's promise of tariffs on imported goods, especially from China," explained StoneX analyst Fawad Razaqzada. "Industrial metals could be a particular weak spot and we have seen copper and iron ore being hurt overnight. The stronger USD and yields are also hurting gold as the opportunity cost of holding the non-interest-bearing asset climb."

Still to come on Wednesday's economic calendar, there is data on EIA crude oil stocks from the US.

[master rsi] 06/11/2024 12:27

How the UPS are performing during last month

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

How the UPS are performing today

[master rsi] 06/11/2024 11:28

SFOR 40p +3.30p - Skanska and BoKlok Agree a New Partnership with S4 Capital’s Monks - 05/11/2024
Skanska Sweden, Skanska Residential Development and BoKlok choose Monks as agency of record

Monks, the global, digital-first, data-driven creative brand under S4Capital plc., has expanded their partnership to support Skanska Sweden, Skanska Residential Development, and BoKlok to become their full service media agency of record. This follows Monks’ previous collaboration with them on the Google Marketing Platform - a platform that provides campaign management and purchasing for digital marketing.

"To continue building a strong brand that strengthens the various services Skanska offers, it’s incredibly important to have the right partners. Monks will help us build and utilise one of our most valuable assets – our data," said Henrik Hammarvid, marketing director at Skanska Sweden.

The new agreement means that Skanska Sweden, Skanska Residential Development and BoKlok will work with the same local team at Monks - ensuring consistency for the entire business.

"With a joint team for all three parties, we can share costs, resources, and most importantly, insights between the media agency and internally. This means we can optimise both ongoing projects and brand marketing while having a strong partner in the digital development of marketing technology," said Marie Passburg, EVP of BoKlok Sweden.

“By leveraging digital innovation and insights, we aim to not only reach the right audiences but also create meaningful connections that drive impact. Together, we can shape a more agile, efficient, and personalised future for Skanska and BoKlok’s brand marketing strategies," said Marcus Sundvall director of data and digital media for Monks Northern Europe.

Upcoming development projects with Monks include dynamic banner advertising, known as DCO, to create personalised marketing – the right message, in the right channel, at the right place and time. The plan also includes developing strategies and tactics for social marketing, specifically on TikTok.

[master rsi] 06/11/2024 11:04

UK construction sector growth slows as housebuilding falls
(Alliance News) - The growth in the UK construction sector was slower than anticipated in October, as housebuilding fell into contraction territory, data published by S&P Global showed Wednesday.

The headline S&P Global UK construction purchasing managers' index fell to 54.3 points in October from 57.2 in September. Falling back towards the neutral 50-point mark separating growth from contraction, it indicates the pace of growth slowed. The reading underperformed against the FXStreet-cited market consensus of 56.0 points.

"Higher levels of new business encouraged additional staff recruitment in October. Moreover, the rate of job creation accelerated to a three-month high. Greater demand for staff was recorded in spite of a decline in business optimism regarding growth prospects for the year ahead," said S&P Global.

Notably, housebuilding was the only broad category of construction work to register a fall in output during October, with the sub-index at 49.4 points. This was down sharply from 54.3 points that S&P Global reported a month ago for September.

S&P Global said: "Construction companies continued to boost their purchasing activity in October, which was mainly linked to greater workloads and forthcoming new project starts. However, the latest increase in purchasing activity was only marginal and the weakest since the current phase of expansion began in May."

Tim Moore, economics director at S&P Global Market Intelligence said: "Total new work expanded at a solid pace in October, adding to signs of a robust improvement in order book pipelines across the construction sector in the second half of 2024. As a result, construction companies added to their payroll numbers at an accelerated pace. However, business optimism remained relatively subdued in comparison to the highs in the first half of the year, with output growth expectations now the lowest since December 2023."

The construction PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 150 construction companies in the UK. The responses were collected between October 10 and 30.

[master rsi] 06/11/2024 10:46

SFOR 39.80p + 3.10p + 8.45%

Ahead of Q3 results tomorrow, the shares are surging ahead this morning
The chart shows the floor has been reached again with a double-bottom

[master rsi] 06/11/2024 10:41

Dow stock futures surge 1,190 points as Trump declares election victory
U.S. stock index futures soared Wednesday after Donald Trump claimed victory in the 2024 presidential election, with the Republicans also set to sweep the Senate and the House.

At 05:10 ET (10:10 GMT), Dow Jones Futures rose 1,190 points, or 2.8%, S&P 500 Futures rose 130 points, or 2.3%, and Nasdaq 100 Futures rose 355 points, or 1.8%.

Trump declares victory
Republican candidate Donald Trump declared himself the victor in the US presidential election earlier Wednesday, despite the race yet to be officially called, saying the win gives him a "powerful mandate" to enact his various economic policies.

Trump has already won several of the key battleground states, including North Carolina, Georgia and Pennsylvania, and one network, Fox News, has already called him the winner over Democrat Kamala Harris.

Republicans set to sweep the Senate, House
The Republican party won a majority in the Senate, and was seen on course to also win the House of Representatives.

A Republican sweep in Congress presents a much easier path for Trump to enact major policy changes. Trump is widely expected to enact more inflationary policies, given his largely protectionist stances on immigration and trade.

The dollar and Treasury yields shot up on this notion, with the greenback hitting a near four-month high.

A swift conclusion to the 2024 elections also presents the clearing of a major point of uncertainty for stock markets, given the turmoil that surrounded the conclusion of the 2020 presidential election.

Fed meeting in spotlight
Wall Street indexes rose sharply on Tuesday, recovering from recent losses on gains in technology stocks, with risk appetite boosted by the expectation of a rate cut by the Federal Reserve later this week.

The S&P 500 rose 1.2%, the NASDAQ Composite climbed 1.4% and the Dow Jones Industrial Average gained 1%.

All three indexes were nursing a tumble from record highs in late October following a mixed batch of mega-cap tech earnings, while uncertainty over future interest rate cuts by the Fed also weighed.

The central bank is widely expected to cut interest rates by 25 basis points at the conclusion of a two-day meeting on Thursday.

Any signaling on the Fed’s plan for future rate cuts will be closely watched, given recent signs of stickiness in U.S. inflation. The central bank has signaled a largely data-driven approach to future easing.

[master rsi] 06/11/2024 09:56

Persimmon third-quarter net sales rates rise in line with guidance

(Alliance News) - Persimmon PLC on Wednesday said trading in its third quarter remained in line with full-year expectations, as its net private sales rate grew.

The York, England-based housebuilder said it delivered a net private sales rate per outlet per week of 0.70 for the period between July 1 and November 3, which was up 37% from 0.51 a year before. Excluding bulk sales, the net private sales rate per outlet was up 30% to 0.61 from 0.47.

Persimmon's forward sales position increased 17% to GBP2.02 billion from GBP1.73 billion in 2023. Within this, the private forward sales position rose 39% to GBP1.45 billion from GBP1.04 billion.

The company delivered 1,416 homes during the quarter, down 1.6% from 1,439 homes last year. Private homes built increased 2.7% to 1,267 from 1,234.

"Customer interest remains good across all regions, and our marketing campaigns continue to generate healthy online traffic and visitors to our sites," Persimmon said. "Affordability constraints, particularly for first-time buyers, have been helped by the initial reductions in interest rates and a greater availability of over 90% loan-to-value mortgage products on the market than a year ago."

The company said it was "well-positioned" for continued market improvement, and remains optimistic about its growth prospects, despite the timing of future interest rate changes being uncertain.

[master rsi] 06/11/2024 09:36

MARKET REPORT
LONDON MARKET OPEN: Stocks rise as Donald Trump declares victory

(Alliance News) - Stock prices in London opened higher on Wednesday morning, with the dollar surging as investors bet on Trump's increasingly likely US election win, and as composite PMI releases from France and Germany are coming in.

Donald Trump claimed victory in the US election, with traders ramping up bets on fresh tax cuts, tariffs, and rising inflation.

While polls had shown the race on a knife edge, the Republican fared far better than his Democratic opponent Vice President Kamala Harris as electoral college results rolled in.

Also in the US, Republicans wrested the Senate from Democratic control while the congressional election looks close.

UK Prime Minister Keir Starmer reacted: "Congratulations president-elect Trump on your historic election victory. I look forward to working with you in the years ahead.

He continued: "From growth and security to innovation and tech, I know that the UK-US special relationship will continue to prosper on both sides of the Atlantic for years to come."

"As the dollar rises, countries which import commodities priced in USD may also see prices increases, which will either need to be absorbed by companies or passed onto customers...there may be more demand for the dollar as it is considered to be a safe haven," commented Hargreaves Lansdown's Susannah Streeter. "This could be counter-productive to efforts to increase exports from the US as the stronger dollar is likely to make products of US exporters less competitive globally.

"When it comes to Europe, an increase in tariffs imposed on exports is likely to cause some pain, but given the dollar is also strengthening and is likely to be beefed up even further, due to inflationary pressures, the currency changes may help British and European firms maintain their competitiveness."

The FTSE 100 index opened up 116.58 points, 1.4%, at 8,288.97. The FTSE 250 was up 405.20 points, 2.0%, at 20,775.24, and the AIM All-Share was up 5.53 points, 0.8%, at 741.82.

Beazley was among the FTSE 100's biggest winners, rising 4.2%.

The insurer said in its latest trading update that it is on track for 2024 guidance, with insurance written premiums in the first nine months of the year up 7% annually to USD4.63 billion from USD4.33 billion.

Persimmon led the laggers, down 4.6%.

This was despite the housebuilder saying it is trading in line with expectations, and is on track to grow completions to 10,500.

Its current forward sales position rose on-year to GBP2.02 billion as of Sunday, although the number of homes delivered in the third quarter fell to 1,416 from 1,439 last year. Persimmon also said it remains optimistic about its growth prospects and the timing of future interest rates.

Marks & Spencers meanwhile jumped 4.2%, close behind Beazley on the index.

The retailer said its half-year pretax profit rose 20% to GBP391.9 million from GBP325.6 million the year before, while revenue rose 5.7% to GBP6.48 billion. The interim dividend was unchanged at 1p per share.

The Cboe UK 100 was up 1.5% at 830.90, the Cboe UK 250 was up 1.5% at 18,287.75, and the Cboe Small Companies was flat at 16,373.69.

With the Bank of England scheduled to make its interest rate call on Thursday, alongside the US Federal Reserve, Lloyds commented: "One of the unknowns about how the [UK] Budget plays out is whether or not the boost to demand from extra government spending eclipses the headwind to the labour market...The [Office for Budgetary Responsibility's] view is that it does and that it likely stops the BoE cutting rates as much as it otherwise would have done.

"It is probably too much to expect that the [monetary policy committee] come to a definitive view on this as soon as tomorrow's decision, so the likelihood is that the existing guidance of a 'gradual approach' to cutting rates is retained in some form or another.

Also in UK news, new Conservative Party leader Kemi Badenoch is preparing to clash with Starmer at her first Prime Minister's Questions.

In European equities on Wednesday, the CAC 40 in Paris was up 1.0%, while the DAX 40 in Frankfurt was up 1.0%.

The pound was quoted at USD1.2875 early on Wednesday in London, lower compared to USD1.3003 at the equities close on Tuesday. The euro stood at USD1.0742, lower against USD1.0917. Against the yen, the dollar was trading at JPY154.03, higher compared to JPY152.08.

In Asia on Wednesday, the Nikkei 225 index in Tokyo was up 2.6%. In China, the Shanghai Composite was down 0.1%, while the Hang Seng index in Hong Kong was down 2.3%. The S&P/ASX 200 in Sydney closed up 0.8%.

In the US on Tuesday, Wall Street ended in the green, with the Dow Jones Industrial Average up 1.0%, the S&P 500up 1.2% and the Nasdaq Composite up 1.4%.

Rabobank noted: "Strategically, much still depends on whether the Republicans take the House. If they do not, we see the odds tilted toward a bear flattening of the US curve (as Trump can raise tariffs but not push through his spending plans nor fill the FOMC with loyal appointees).

"As noted, though, the initial market response rarely sets the tone for the longer term and the market has yet to coalesce around a consistent narrative."

Brent oil was quoted at USD74.12 a barrel early in London on Wednesday, down from USD76.10 late Tuesday.

"Oil prices have been on a falling trend since a while now," Swissquote's Ipek Ozkardeskaya said, noting that "OPEC's production cuts have been countered by increased production elsewhere. The US for example is pumping like there is no tomorrow (and Trump vows to keep it that way).

"Under these circumstances, Saudi, which is the backbone of the OPEC policy, will be increasingly tempted to give up on the production cut strategy and adopt a market share focus to increase its revenue by selling more oil with cheap prices. That, to me, could weaken the OPEC-encouraged oil bulls' hands in the medium run."

Gold was quoted at USD2,732.58 an ounce, lower against USD2,736.94.

Still to come on Wednesday's economic calendar, as well as the composite PMI data from across Europe, there is a UK construction PMI read this morning.

[master rsi] 06/11/2024 09:15

The "UPS shares are doing well today

IQE 12.80p +0.64p (5.26%)
RGL 126.80p +0.60 (1.28%)
SDY 33.45p +0.45 (1.36%)

[master rsi] 06/11/2024 08:59

BTC - Bitcoin price today: hits record high at $75k as Trump leads in presidential race
Bitcoin surged to a record high on Wednesday as early vote counting showed Donald Trump well ahead in the 2024 presidential elections, boosting hopes for more friendly regulation.

The world’s biggest cryptocurrency surged nearly 10% to a record high of $75,071.8.

Broader crypto prices also rallied, with world no.2 crypto Ether rising 9.1% to $2,622.90. Meme token Dogecoin surged 23%, amid speculation that Elon Musk had referenced the token during recent campaigning for Trump.

Crypto prices shot up as vote counting as of 01:14 ET (06:14 GMT) showed Trump in the lead with 247 electoral votes, while Kamala Harris held 210 votes.

Coverage by the Associated Press showed Trump won key battleground states North Carolina and Georgia, and was leading in other swing states including Pennsylvania, Arizona, Nevada and Wisconsin.

The Republican party won a majority in the Senate, and was also seen leading in the House of Representatives. A Republican sweep in Congress presents a clear path for Trump to enact major policy changes.

Crypto markets cheered the prospect of a Trump presidency, given that he has maintained a largely pro-crypto stance in campaigning, and has also promised to enact friendly regulation for the industry.

On the broader policy front, Trump is widely expected to enact inflationary policies, given his protectionist stance on trade and immigration. The dollar surged to near four-month highs on this notion.

But Bitcoin largely shrugged off any pressure from a stronger dollar, as markets also positioned for a Federal Reserve meeting later this week, where the central bank is widely expected to cut interest rates by 25 basis points.

The longer-term outlook for rates, however, turned less dovish on the prospect of a Trump victory.

Crypto price today: altcoins track Bitcoin rally, but record highs elusive
Broader cryptocurrency prices also rallied tracking Bitcoin, although most altcoins still remained well below their record peaks.

SOL jumped 16.8% to an over two-month peak, while ADA rose 10% to a two-week high. MATIC rallied 10% but was trading close to lifetime lows, while XRP rose 5.8% to a two-week high.

[master rsi] 06/11/2024 08:48

Trump claims victory, says results give him "powerful mandate"

Investing.com -- Donald Trump has claimed the results from the US presidential election give him a "powerful mandate" as the latest returns suggest he is close to emerging victorious.

Although the race has yet to be called in favor of the Republican candidate by most major networks and other news outlets, reported ballots out of a host of states indicate that he is on the verge of a victory.

One network, Fox News, has called a win for Trump over Democrat Kamala Harris after he was projected to win Wisconsin, a crucial swing state. Trump had garnered 277 electoral college votes, surpassing the 270 needed to win the election, while Harris had gained 226 votes, according to Fox News.

Fox News also showed the former president wrapping up the vote in several other key battleground states, including Pennsylvania, Georgia and North Carolina.

Meanwhile, coverage by the Associated Press and other regional networks showed Republicans had taken a majority in the Senate, the upper chamber of the US Congress, and were also on track to win the House of Representatives, raising the possibility of a Republican sweep in the 2024 elections.

Such a scenario would present an easier path for Trump to enact major policy changes if elected.

“Trends are pointing toward a red sweep although it remains early to make that call,” Citi analysts said. “It comes down to the 'blue wall' states yet again, which suggests we might not know the results until Wednesday morning."

The dollar and Treasury yields rallied on the prospect of a Trump victory, while Wall Street futures advanced in Asian trade.

[master rsi] 06/11/2024 08:35

FTSE

Well up with 120 points and 381 up for the FTSE 250
After Trump declares victory with 266 votes yet short of the 270, but many yet to declared

[apotheki] 06/11/2024 07:45

Roquefort Therapeutics plc / LSE:ROQ

STAT-6 siRNA Presentation at Advanced Therapy Development Congress

Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth immunology and oncology markets, is pleased to announce that the latest experimental results for its STAT-6 siRNA program will be presented at the Advanced Therapy Development Congress in London today.

STAT-6 siRNA Immunology / Oncology Medicine

siRNA therapeutics are an innovative new class of medicines based on RNA interference (RNAi), whereby a gene is downregulated by disrupting its messaging machinery, which was recognised with the 2006 Nobel Prize in Physiology or Medicine. Roquefort Therapeutics' siRNA programs target STAT-6. Signal Transducer and Activator of Transcription (STAT) proteins are both signalling proteins and transcription factors that play a role in cell growth, differentiation and function. STAT-6 is a key nodal transcription factor that selectively mediates downstream signalling of IL-4 and IL-13, dominant and central cytokines in the pathophysiology of Type 2 inflammatory diseases[1].

As previously announced, Roquefort Therapeutic's siRNA programs have demonstrated in vivo proof of concept and efficacy in oncology. This new set of experiments investigated the use of the siRNA in the inflammation and immunology ("I&I") field. STAT-6 is a novel I&I target validated by Sanofi and Recludix Pharma through a significant ($100M) licensing transaction in 20231. Our preliminary experiments demonstrated a significant reduction in the levels of total STAT-6.

Presentation of STAT6 siRNA results at the Advanced Therapy Development Congress
At the Advanced Therapy Development Congress today, the Company will present the new results of the STAT-6 siRNA experiments in the I&I indication in a scientific presentation titled Development of First-In-Class Advanced Therapies For Immunology and Oncology.

The results presented today show that in a validated THP-1 model of I&I disease, the STAT-6 siRNA dampened the immune response. Following IL-4 stimulation, the THP-1 cells were treated with siRNA eliciting an ~10 fold reduction in total STAT-6 with a corresponding reduction in phospho-STAT-6 and modification of the key biomarkers CCL-17 and CD-23.

Roquefort Therapeutics CEO Ajan Reginald commented:

"The results presented today highlight the Company's internal research and development expertise in the Immunology and Inflammation field and the potency of our siRNA program, in the highly attractive STAT-6 niche. A number of leading Biotech companies have focused their research in the STAT-6 field and so, we sought advice and designed our experiments based on feedback from our potential Pharma partners. The results demonstrate our siRNA is highly competitive in a head-to-head comparison with the leading STAT-6 companies, with potentially better absolute efficacy.

These are the types of results we were seeking to validate our business model of discovering early breakthrough innovation from which we develop medicines that are highly attractive to Big Pharma. We are progressing with the Company's near-term imperative, which remains, to complete meaningful partnerships with one or more Big Pharma companies."

[master rsi] 06/11/2024 00:10

One of the GULTY Investments selling all of its Portfolio for the last few days...

London Finance & Investment sells stock market investments

London Finance & Investment Group PLC - London-based investment finance and management company - Disposes of all of its stock market investments.
As at November 4, cash balances are GBP23.2 million held on short-term fixed deposits in sterling and dollar earning interest at rates of about 4.7% a year.

[master rsi] 05/11/2024 23:38

Guy Fawkes Night

Crowds line streets for Lewes bonfire celebrations