Upstream Share Discussion Threads

[master rsi] 12/4/2024 08:32

FTSE

UP with 67 points .........

London stocks rose in early trade on Friday as the latest GDP data suggested the UK recession had ended.

According to figures released earlier by the Office for National Statistics, GDP grew 0.1% in February following 0.3% growth the month before, in line with consensus expectations. January's figure was revised up from a previous estimate of 0.2%. growth.

[apotheki] 12/4/2024 07:40

Altona Rare Earths [LSE:REE] - in the right space and at the right time



SP Angel . Morning View

The Sesana project is located on the eastern edge of the Kalahari Copper Belt approximately 25km from “the producing Khoemacau underground copper-silver mine” and “next to Galileo Resources licence PL039/2018 and near ARC Minerals licence PL135/2017 (Virgo Copper-Silver Project), where a 3km long soil anomaly associated to the D'Kar / Ngwako Pan formations contact has been recently identified”.

Existing deposits in the Kalahari Copper Belt are usually found at the geological contact between the D’Kar Formation and the underlying Ngwako Pan Formation and today’s announcement describes a “regional airborne magnetic data … [which] … shows … a ca. 10km long stretch of the contact between the D'Kar and Ngwako Pan formations contact is passing through the northern part of the Tenement, along the eastern margin of a fold structure, which makes it a perfect setting for copper-silver mineralisation”;.

“Initial exploration work will include a combination of geochemical and geophysical exploration methods … [including] … Soil sampling associated to ionic leach assays is particularly suitable for the KCB context … [and a] … Detailed magnetometer survey will allow a detailed mapping of lithology and structures while induced polarization will allow the direct localisation of disseminated sulphides to allow accurate reconnaissance drilling planning”.

CEO, Cedric Simonet, explained that the “acquisition of the Sesana Project is in line with the implementation of Altona's portfolio diversification strategy”.

Conclusion: Altona Mining is joining the increasing exploration interest in Botswana’s Kalahari Copper Belt. We await news as exploration of the Sesana project proceeds.

[apotheki] 12/4/2024 07:30

KAVANGO RESOURCES PLC / LSE:KAV

ZIM: Nara Project Ground Magnetic Survey Completed

Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals exploration company, is pleased to announce the completion of a ground magnetic survey over the Nara Gold Project in Southern Zimbabwe.

Highlights

· A total of 85km of ground magnetic survey lines were completed over the project area (the "Survey").

· The objective of the Survey was to identify geological structures and contacts that may be associated with gold mineralisation.

· The Survey has defined a 200m wide interpreted shear corridor along 5km of strike within the property, hosting a number of magnetic low lineaments interpreted as shear zones.

o Shear zones are commonly associated with gold mineralisation. This corridor provides a prospective zone for follow up.

o Historical and artisanal gold mine workings are located within the shear corridor and are closely related to magnetic low lineaments.

· The magnetic survey has identified a number of additional exploration targets including:

o Several previously unknown magnetic low lineaments parallel to the historical workings.

o Areas of magnetic disturbance possibly representing hydrothermal alteration of magnetic rocks which may be related to gold mineralisation.

o Jogs and flexures along the interpreted shear zone within the claims.

Ben Turney, Chief Executive of Kavango Resources, commented:

"Kavango's exploration for large-scale, bulk-minable gold deposits in Zimbabwe is moving at pace. The progress we are making at the Nara Project illustrates how well our team is performing in country.

We've been operational in Zimbabwe for only 10 months and in this time have taken great strides forward in exploring our two main projects; Hillside and Nara.

Now that we have the export permit in place for our Hillside cores, we look forward to receiving the multi-element test results later this quarter from the 1,400m of diamond drilling we completed there.

In meantime, we've mobilised the rig to our Nara Project in March and have just completed our fifth diamond hole here. We will provide an update on drilling in the coming weeks but based on visual observations of core we decided to push ahead with a ground magnetic survey of the project area. Our goal was to learn more about the structure we are drill testing.

We recently upgraded our goal at Nara to find 2 million ounces of gold. Today's survey results are particularly encouraging because we appear to have identified a 200m wide shear corridor along 5km of strike. Given this corridor is associated with historic high-grade mining and more contemporary small-scale mining, this suggests this geological structure is associated with gold mineralisation.

We will complete the first phase of drilling at Nara over the next 6 weeks and send the cores for testing. Everything will then depend on the laboratory results, but we are pleased with progress so far."

[master rsi] 11/4/2024 23:58

KEfi 0.58p as UT but the spread of 0.582 v 0.592p

An excellent progress today, though the Final UT price was not the proper outcome of the day.

[master rsi] 11/4/2024 23:43

Brexit Britain's exports SURGE in trade boom since leaving the EU with UK now world's fourth largest exporter/ Story by Georgina Cutle

Brexit Britain has shot up to the fourth largest exporter in the world, despite warnings that international trade would drop off after leaving the EU.

New figures show that Britain has moved from its previous ranking of seventh in 2021 to fourth in 2022.

The United Nations data reveals that the UK has overtaken Japan, France and the Netherlands on Trade and Development (UNCTAD) for goods and services exports.

Business Secretary Kemi Badenoch praised the rise in British trade, saying: "These new figures show how the UK is punching above its weight on trade, and is on track to reach our ambition of exporting a trillion pounds of goods and services a year by 2030.

"The appetite for world-class UK produce continues to grow and this government will keep supporting our brilliant businesses, helping to create more jobs, pay higher wages and grow the economy."

Britain trails behind front runners, China which generates the most wealth from exports followed by the United States and Germany in third place.

[master rsi] 11/4/2024 22:29

MARKET REPORT
LONDON MARKET CLOSE: Dwindling US Fed cut hope unnerves markets

(Alliance News) - Stock prices in London closed lower on Thursday, with a hawkish interest rate outlook for the Federal Reserve and geopolitical tensions hurting investor enthusiasm.

Elsewhere in the central banking space, the European Central Bank appeared to lay the groundwork for a June rate cut, while a UK rate setter said the Bank of England is "way off" easing bank rates.

The FTSE 100 index ended down 37.41 points, 0.5%, at 7,923.80. The FTSE 250 lost 14.88 points, 0.1%, at 19,786.87, though the AIM All-Share added 3.64 points, 0.5%, at 758.83.

The Cboe UK 100 ended down 0.5% at 791.95, the Cboe UK 250 rose 0.1% to 17,220.35, and the Cboe Small Companies added 0.2% to 14,770.34.

In European equities on Thursday, the CAC 40 in Paris ended down 0.3%, while the DAX 40 in Frankfurt fell 0.8%.

The pound was quoted at USD1.2513 late Thursday afternoon in London, down compared to USD1.2546 at the equities close on Wednesday. The euro stood at USD1.0705, lower against USD1.0743. It had traded just below USD1.07 at one point, a year-to-date low.

Against the yen, the dollar was trading at JPY153.30, up compared to JPY152.88.

The European Central Bank remains on course to lower interest rates at its June meeting. The ECB left its key interest rates unchanged, as widely expected, but policymakers said they will cut rates should they gain confidence that inflation is falling to the bank's 2% target.

European Central Bank President Christine Lagarde again affirmed a "data dependent" approach to interest rate decisions, but did add that some in the Governing Council already have the confidence to cut.

Lagarde said in a post-decision press conference: "A few members felt sufficiently confident [to cut interest rates], on the basis of the limited data that we received in April."

However, they then "rallied to the consensus" of the large majority of euro area monetary policymakers.

ING analysts commented: "During the press conference, ECB President Christine Lagarde repeatedly stressed the hint at upcoming rate cuts mentioned above – but she also added that the ECB was not pre-committing to any path for policy rates. At the same time, Lagarde also mentioned that few ECB members had already been in favour of a rate cut today. Today's meeting marked another step in the very gradual transition of the ECB's communication since December from hawkish to dovish, even if it was probably the mildest shift.

"The ECB clearly opted against giving more explicit guidance for a June cut. This reluctance to be more outspoken – combined with the fact that some ECB members were already in favour of a rate cut today – implies a higher degree of disagreement within the central bank. It seems as if at least some ECB members fear that still high services inflation and the recent surge in oil prices, as well as wage developments in Germany, suggest that there still is a considerable risk of inflation re-accelerating."

The aftermath of Wednesday's robust US consumer price inflation was still reverberating in European equities, though US tech shares were higher in mixed trade on Wall Street.

The Dow Jones Industrial Average was down 0.6% at the time of the London equities close, the S&P 500 fell 0.1%, though the Nasdaq Composite added 0.3%.

On Wednesday, the Bureau of Labor Statistics reported that the year-on-year rate of consumer price inflation picked up to 3.5% last month, from 3.2% in February, taking it further above the Fed's 2% inflation target.

The rate of consumer price inflation had been expected to pick up to just 3.4%, according to FXStreet cited consensus. The rate of inflation is now at its most lofty since September.

Thursday's US producer price data was less robust, but did pick up. US producer price growth accelerated to 2.1% year-on-year in March, from 1.6% in February.

Berenberg analyst Holger Schmieding noted a "growing gap" between the ECB and Fed.

"The eurozone needs rate cuts, the US economy does not as long as the pre-election fiscal expansion neutralises the impact of high Fed rates," Schmieding added.

Elsewhere, Bank of England rate setter Megan Greene said interest rate cuts "should still be a way off" in the UK, predicting that the "last mile" in getting inflation down "may prove the hardest".

Greene, one of the more hawkish members of the BoE's monetary policy committee, argued in the Financial Times that investors had underestimated the risk that inflation would remain high for longer in the UK than in other advanced economies.

In London, shares in airlines slumped amid rising global tensions. British Airways parent International Consolidated Airlines Group gave back 3.7%, budget carrier easyJet fell 3.6%.

Israel was on alert Thursday after its arch foe Iran threatened reprisals over a strike in Syria this month that killed two Iranian generals, and as the war against Hamas ground on in Gaza.

Days after Israel strengthened its air defences and paused leave for combat units, the US also warned of the risk of an attack by Iran or its allied groups at a time Middle East tensions have soared.

Iran is "threatening to launch a significant attack on Israel," US President Joe Biden said Wednesday, pledging "ironclad" support for its top regional ally despite diplomatic tensions over Israel's military conduct in Gaza.

Crude prices were higher than they were this time on Wednesday, though Brent remained a touch below USD90 a barrel. Brent oil was quoted at USD89.94 a barrel late in London on Thursday, up from USD89.31 late Wednesday.

Gold was quoted at USD2,338.05 an ounce, up against USD2,334.91.

Back in London, consumer goods firm Reckitt, lender Lloyds Banking Group and insurer Aviva fell 2.3%, 4.6% and 6.4%. The trio went ex-dividend, meaning new share buyers do not qualify for the latest payout.

At the other end of the large cap index, AstraZeneca, once of its largest constituents, added 2.1%. It said it plans to increase its dividend by 7% in 2024, having left the payout flat last year.

The Cambridge, England-based pharmaceutical company said the increase will be by 20 US cents to USD3.10 per share.

For 2023, AstraZeneca had paid a total dividend of USD2.90, which was unchanged from 2022, despite skyrocketing profit on the back of lower sales costs.

DIY retailer Kingfisher and engineering company Smiths rose 2.4% and 2.7%. Both were raised to 'buy' from 'hold' by HSBC.

Elsewhere in London, Lok'n Store Group jumped 17% to 1,120.56 pence, after it accepted a takeover approach from Shurgard Self Storage that values the business at GBP378 million.

The cash bid is worth 1,110 pence per Lok'n Store share, a 16% premium to the self-storage provider's closing price of 958p on Wednesday, and 2.3% above its all-time closing high of 1,085p in January 2022.

Brussels-based Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, said the deal represented an "attractive opportunity" to accelerate its growth strategy and create value for shareholders.

Lok'n Store said it considered the terms of the offer "fair and reasonable", and recommended shareholders accept the bid. Shurgard said that, as of Wednesday, it has received irrevocable undertakings to vote in favour of the deal for about 19% of Lok'nStore's shares.

Friday's economic calendar has a UK gross domestic product reading and German inflation data at 0700 BST.

In the local corporate diary, building materials company SigmaRoc reports a trading statement.

Over in New York, the banking earnings season kicks off. Citigroup, JPMorgan Chase and Wells Fargo release first-quarter numbers. Asset manager BlackRock also reports.

[master rsi] 11/4/2024 22:13

DOW

Finished 2 points lower...

- Wall Street stocks turned a mostly positive performance on Thursday following the release of yet another key inflation report.

At the close, the Dow Jones Industrial Average was down 0.01% at 38,459.08,
while the S&P 500 advanced 0.74% to 5,199.06
and the Nasdaq Composite saw out the session 1.68% weaker at 16,442.20.

[master rsi] 11/4/2024 16:26

How the UPS are performing during last month

[master rsi] 11/4/2024 16:12

How the UPS are performing today

[master rsi] 11/4/2024 16:04

Electric Guitar proposes listing on AIM alongside reverse takeover

(Alliance News) - Electric Guitar PLC on Thursday said it intends to de-list from the standard segment of the Official List and Main Market of the London Stock Exchange.

The Reading, England-based digital marketing acquisition company remains in the process of acquiring Bristol-based peer 3radical Ltd through a reverse takeover.

The company has now decided to pursue an application for admission to trading on AIM in conjunction with the acquisition with the de-listing taking place no sooner than May 1.

The official de-listing date is to be confirmed by the end of April.

Electric Guitar shares are currently suspended.

[master rsi] 11/4/2024 14:43

DOW

Opening 38 points lower

[1_dma] 11/4/2024 14:36

Thanks for your take on things master rsi

since your reply the level 2 book has strengthened notably! a breakout is pending now IMO

[master rsi] 11/4/2024 14:09

Europe turns to ECB after U.S. inflation scare
Traders were bracing for a volatile European Central Bank meeting on Thursday, after stubborn U.S. inflation numbers had triggered the biggest global market selloff in months and left Japan's yen at a 34-year low.

Euro and bond dealers were feeling especially anxious ahead of the 1215 GMT ECB decision and 1245 GMT press conference after Wednesday's surprise U.S. figures
had sent the dollar on its biggest tear in over a year against the single currency by quashing hopes of near-term Fed rate cut.

Europe's bourses had sagged in line with MSCI's main global index in morning trading, with focus on whether ECB chief Christine Lagarde bolsters expectations of a June cut that would open up a serious wedge with the Fed.

Bond markets were still struggling, after the 10-year U.S. Treasury yield - the main driver of global borrowing costs - had shot back above 4.5% in its biggest daily leap since September 2022.

It was now sitting at 4.55% while Germany's 10-year bond yield - the European benchmark - was up fractionally at 2.45%, after rising 6 bps on Wednesday although that was a small change compared to the 18 bps jump experienced by Treasury traders.

"The key driver now remains U.S. rates," Amundi's Co-Head of Emerging Markets/Fixed Income Sergei Strigo said, pointing to Treasuries ploughing up through the 4.5% level again.

"The question is whether we are going to stick to these levels or are going to go higher".

For ECB watchers, the bank has kept rates steady since September but has already signalled that cuts are coming into view, with policymakers awaiting a few more comforting wage indicators before pulling the trigger.

The currency bloc is now in its sixth straight quarter of economic stagnation and the labour market is starting to soften, an obvious contrast to the U.S. economy which continues to grow robustly.

"While there are limits to how much ECB policy can diverge from the Fed over time, there is nothing to stop the ECB from cutting first or setting its own pace of cuts early on in the easing cycle," Deutsche Bank's Jim Reid said.

However he also pointed to how markets cut the likelihood of an ECB cut by June back since the U.S. data shock. It was at around 75% on Thursday, down from 91% on Tuesday.

Likewise at the Bank of England, it fell from 74% to 56% on Wednesday Reid added, from 78% to 53% for the Bank of Canada and for the Reserve Bank of Australia it went from 25% to 21%.

INTERVENTION WARNING

U.S. stock futures were pointing down again after Wall Street had fallen around 1% on Wednesday. The tick up in Treasury yields ensured they stayed at their highest levels since November.

Overnight in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.4%, paring some earlier losses, while Japan's Nikkei dropped 0.35%.

It was the beleaguered yen that was the main focus though, after the roaring greenback knocked the Japanese currency to a 34-year low of 153.24 per dollar.

It eased up slightly to 153.05 yen as the risk of government intervention potentially looms large now. Japan's top currency diplomat, Masato Kanda, warned on Wednesday that authorities would not rule out any steps to respond to disorderly exchange-rate moves.

"It's important for currency rates to move stably reflecting economic fundamentals," Japanese Prime Minister Fumio Kishida added on Thursday when asked about the yen's slide.

It may seem like an over-reaction to a U.S. inflation miss of less than a tenth of a percentage point, but the heated March consumer price update has jolted markets into doubting any U.S. interest rate cut before the November election.

In commodities, metal prices were resilient in the face of a strong dollar while oil held gains after advancing more than 1% following an Israeli strike that killed three sons of a Hamas leader, fuelling worries that ceasefire talks might stall.

Brent dipped 0.5% to just above $90 a barrel, and U.S. crude inched down to $85.70 per barrel. Gold prices gained 0.2% to $2,338.79 per ounce to keep them near this week's record high.

[master rsi] 11/4/2024 13:30

1_dma

re - KEFI

At the moment the important part is the bounce back, on what seems the loose shares after the placing is nearing the end.

Any positive RNs will be a bonus on the new cycle on the share price rise, after the low price placing.

The rise at the moment is consistent with the new interest in the shares as well as the higher prices of GOLD and Silver.

Those new targets can easily be achieved at the rate of movement at the moment, later "Que sera sera"

[1_dma] 11/4/2024 13:07

Master RSi

How do you see the nearterm at KEFI GOLD ? there is a big RNS due soon on one of its key assets that could re-value the company 3 to 4 times highter.Might a sustained rise be on cards ?? i do not see that 0.62p much of an obstacle.

[master rsi] 11/4/2024 12:25

How the UPS are performing during last month

[master rsi] 11/4/2024 12:09

How the UPS are performing today