Upstream Share Discussion Threads

[master rsi] 24/7/2024 16:04

FCM 4.25P (-0.55 / -11.46%%) First Class Metals launches next stage at Dead Otter on gold results

(Alliance News) - First Class Metals PLC on Wednesday said it has launched the next stage of development at the Dead Otter trend at North Hemlo with immediate effect, after upgrading the target to high profile status.

According to the Blackburn, England-based metal discovery company, which has operations in northern Ontario, this upgrade could also include a "potentially significant" impact exploration programme.

Tests confirmed the presence of a discontinuous 3.7-kilometre-long gold trend at Dead Otter, in the south of the North Hemlo property. Visible gold was observed in multiple grab samples, including a result of 19.6 grams per tonne of gold, with a 13.6 grams per tonne gold sample in the near vicinity.

These results were considered particularly significant, due to the robust structure, tenure of gold reported and similarities to other mineralisation in the area.

Accordingly, stripping and channel sampling across several high priority targets has now been commissioned. First Class Metals believes the work programme should be the last exploration step required for the delineation of drill targets.

[master rsi] 24/7/2024 14:55

FRP Advisory full-year revenue, earnings rise
(Sharecast News) - FRP Advisory Group reported significant growth and resilience in its full-year results on Wednesday, maintaining its strategic focus on organic growth supplemented by selective acquisitions.

The AIM-traded firm said its revenue increased 23% to £128.2m, with 19% of that growth being organic and 4% resulting from acquisitions.

Adjusted underlying EBITDA rose 37% to £37.1m, while profit before tax increased significantly to £29.9m, from £15.6m in the prior year.

The company also maintained a strong balance sheet, with year-end net cash of £29.7m, up from £22.9m in 2023.

Basic earnings per share were 13.9p, and total dividends for the year increased to 5p per share.

FRP also reported significant strides in its operational performance, as its team grew by 19%, adding 106 colleagues year-on-year, bringing the total to 657 employees excluding consultants.

That growth included 65 new colleagues from two acquisitions, while FRP promoted 15 colleagues to partner across various locations and service lines.

The restructuring team remained the most active in the UK administration appointment market, increasing its market share to 16%.

FRP Corporate Finance was meanwhile ranked as the 24th most active financial adviser in the UK M&A market, involved in 76 successful transactions with an aggregate deal value of £1.4bn.

The company said it also strengthened its operational infrastructure by launching a project management office to oversee key projects, implementing a managed security operations centre, and rolling out a network transformation to CATO SASE.

Additionally, a new people director was hired to progress the group's future people proposition.

Since the end of the financial year, FRP declared a dividend of £2.2m, equivalent to 0.9p per eligible share, which was paid on 14 June.

On 13 May, FRP announced the acquisition of Hilton-Baird Group for £7m plus net assets, marking its ninth acquisition since its initial public offering in 2020.

Hilton-Baird provides commercial finance and credit insurance brokerage, among other services.

Additionally, on 19 July, FRP announced the acquisition of Lexington Corporate Finance for a total consideration of £3m plus net assets.

Lexington is based in Cardiff and provides corporate finance services.

FRP also executed a secondary placing of around 20.4 million shares on 23 May, with new lock-in agreements ensuring that key shareholders, including the CEO and COO, were restricted from disposing of further shares before 31 July 2026.

In June, the board also launched a save-as-you-earn (SAYE) scheme, which received strong colleague participation.

"The group made excellent progress in the financial year to 30 April, growing revenues and profits for another consecutive year as we remained focused on the execution of our proven strategy: achieving strong organic growth, supplemented by selective acquisitions," said chief executive officer Geoff Rowley.

"All five of our pillars made a positive contribution in the year.

"Our restructuring team continued to be the most active in the UK administration appointment market, FRP Corporate Finance was ranked as the 24th most active financial adviser in the UK M&A market, and our Forensic Services team was very active on a high number of investigation and litigation / arbitration confidential projects."

Rowley said trading for the first full year of the combined financial advisory pillar had been positive, with heightened activity across all service lines.

"In the new financial year, activity levels across all our locations and pillars are encouraging, with trading in line with the board's expectations.

"Our M&A pipeline also remains healthy, giving us confidence of making further positive progress against our strategy."

At 1243 BST, shares in FRP Advisory Group were down 0.38% at 130p.

[master rsi] 24/7/2024 14:35

DOW

But so far, it's not showing ....... now 166 points lower

Stocks in New York are set to open lower on Wednesday. The Dow Jones Industrial Average is called down by 0.4%, the S&P 500 by 0.7% and the Nasdaq Composite by 1.0%.

[master rsi] 24/7/2024 12:22

How the UPS are performing during last month

[master rsi] 24/7/2024 12:08

How the UPS are performing today

[master rsi] 24/7/2024 11:36

Breedon raises revenue and dividend but half-year profit falls
(Alliance News) - Breedon Group PLC on Wednesday said it gave a "resilient performance" despite "challenging" market conditions, with continued revenue growth despite profit falling.

The construction materials company said pretax profit dropped 18% to GBP46.5 million from GBP56.5 million.

Revenue rose 2.9% to GBP764.6 million from GBP742.7 million, "supported by our entry into the US".

Revenue for Breedon's Great Britain segment decreased 5.2% to GBP492.4 million, from GBP519.6 million. The Derby, England-based company said its "robust surfacing performance and modest price progression" was "partially offset by volume declines related to the more challenging market".

Breedon also increased its half-year dividend by 13% to 4.5 pence from 4.0p, "demonstrating confidence in the long-term growth outlook".

"For the team to deliver such a resilient performance given the challenging GB market conditions we have faced is an incredible achievement," commented Chief Executive Officer Rob Wood. "We achieved a major strategic objective in March, entering the US and establishing our third platform with the transformative acquisition of BMC, creating the foundation from which we will build out our US business.

"We expanded our routes to market, delivering two bolt-on transactions in GB, and growing organically through our downstream businesses, pulling through more of our own material."

Going forward, Breedon said it expects growth "in all our markets from 2025" as the "economic and political landscape stabilises".

"The new UK Government's growth agenda appears supportive of the construction market, in particular housebuilding and infrastructure," the company noted, adding that it expects to benefit from "falling interest rates in the months ahead".

Closer to home, "Our healthy balance sheet provides us with the strategic flexibility to invest for growth, maintain our progressive dividend policy and execute bolt-on acquisitions across each platform," Breedon added.

It said its management expectations for the full year remain unchanged.

"As the economic and political clouds clear in GB, our markets will return to growth in time and we will be well placed to grow and succeed," CEO Wood added.

Breedon shares were trading 4.5% lower at 391.75p in London on Wednesday.

[davethehorse] 24/7/2024 09:42

A total UK sh*t show

[master rsi] 24/7/2024 09:41

The Market ( Indices ) have turned out negative this morning, Not only the FTSE -43 points from the start but the FTSE 250 -85 is now also well down.

Gold up a bit +$3
Oil is down a bit -$0.13
BTC - Bitcoin down by -$200

[master rsi] 24/7/2024 09:20

MARKET REPORT
LONDON MARKET OPEN: Europe stocks fall as earnings largely disappoint

(Alliance News) - European equities got off to an underwhelming start on Wednesday, as poorly-received tech earnings after the closing bell in New York overnight kept a lid on enthusiasm, and reports from the continent largely failed to inspire confidence either.

US earnings will be in focus later on Wednesday, with carmaker Ford and cloud software firm IBM among those reporting. European lenders took centre-stage in the morning, however, with Santander and Deutsche Bank moving in opposite directions following their earnings. A poor report from LVMH late Tuesday hurt luxury retail shares early Wednesday, meanwhile.

In London, numbers from easyJet impressed, while Reckitt's strategy update was well-received, as it put a host of brands on the chopping block.

Still, the FTSE 100 index traded down 38.31 points, or 0.5%, at 8,129.06. The FTSE 250 was down 41.30 points, 0.2%, at 21,050.19, while the AIM All-Share was down 1.24 points, 0.2%, at 778.93.

The Cboe UK 100 was down 0.4% at 811.48, the Cboe UK 250 was up marginally at 18,393.42, and the Cboe Small Companies was flat at 17,248.12.

The CAC 40 in Paris slumped 1.5%, while Frankfurt's DAX 40 traded 0.7% lower.

In New York on Tuesday, the Dow Jones Industrial Average ended down 0.1%, the S&P 500 down 0.2% and the Nasdaq Composite down 0.1%.

After hours in New York, Google owner Alphabet fell 2.2%, while electric carmaker Tesla slid 7.8%.

Tesla missed Wall Street profit estimates in the second quarter as it repeated guidance that vehicle growth in 2024 would be "notably lower" than 2023. Alphabet highlighted "ongoing strength" in its Search segment, as well as "momentum" in Cloud, after seeing both revenue and net income climb in the second quarter.

However, the YouTube division's advertising revenue fell short of estimates.

"The stock market rally faces a big hurdle this week, as it is the peak of earnings season for the S&P 500. The picture so far has been mixed. On Tuesday evening the focus was on the Magnificent 7. Tesla and Google both reported earnings. In post-market trading Tesla's share price is lower by 7%, and Alphabet's share price is also lower after eroding earlier gains. This suggests that the market is not impressed with the start of earnings season for the mega tech stocks," XTB analyst Kathleen Brooks commented.

In Frankfurt, Deutsche Bank traded 6.6% lower, while in Madrid, Santander rose 3.6%. Santander posted a second-quarter earnings hike and raised guidance, while Deutsche swung to a loss on litigation costs amid a Postbank lawsuit provision.

London-listed banking shares were lower. Standard Chartered fell 1.6%, while Barclays and HSBC each lost 1.0%.

Also hurting the FTSE 100, Scottish Mortgage Investment Trust, which invests in a who's who of US tech names, fell 1.8%.

Lingering China growth worries, meanwhile, hurt Asia-focused insurer Prudential. Pru shares fell 2.2%.

"Sentiment towards China is hardly inspiring," Pepperstone analyst Chris Weston commented.

In China on Wednesday, the Shanghai Composite fell 0.5% in afternoon trade. The Hang Seng in Hong Kong was 1.2% lower in late trade. Tokyo's Nikkei 225 fell 1.1%. The S&P/ASX 200 in Sydney ended down 0.1%.

An interest rate cut by the People's Bank of China has failed to stir up the Composite. The Shanghai benchmark has fallen nearly 3% this week.

Adding to the misery for the FTSE 100, Burberry fell 1.6% in tough morning dealings for luxury goods firms. LVMH fell 5.9% in Paris as it reported a decline in half-year profit.

Investors while be hoping for better from Kering, also a Paris listing, which reports later on Wednesday.

Back in London, easyJet and Reckitt led the way in the FTSE 100, rising 6.7% and 3.1%.

easyJet said it is set for a "record-breaking summer" as third-quarter earnings improved, calming some travel sector nerves after Ryanair's drab update earlier this week.

easyJet said revenue for the quarter ended June 30 rose 11% to GBP2.64 billion from GBP2.36 billion a year earlier. Headline pretax profit shot up 16% to GBP236 million from GBP203 million. Passenger numbers rose 8% during the period.

"Our strong performance in the quarter has been driven by more customers choosing easyJet for our unrivalled network of destinations and value for money. This result was achieved despite Easter falling into March this year, demonstrating the continued importance of travel and this means we remain on track to deliver another record-breaking summer, taking us a step closer to our medium term targets," CEO Johan Lundgren said.

Reckitt Benckiser posted weaker half-year earnings, and said it will look to divest its portfolio of "leading home care brands", including Air Wick and Calgon.

The consumer goods and hygiene products maker also said it deems Mead Johnson Nutrition, the business behind Enfamil infant nutrition, to be non-core. Reckitt said it will consider "all strategic options" for that division.

"The core Reckitt portfolio will be a uniquely attractive consumer health and hygiene business, with premium, high-growth and high-margin Powerbrands, including Mucinex, Strepsils, Gaviscon, Nurofen, Lysol, Dettol, Harpic, Finish, Vanish, Durex and Veet. Over the last five years this portfolio has delivered strong growth and high margins," it added.

Reckitt's net revenue in the first-half of 2024 declined 3.7% to GBP7.17 billion from GBP7.45 billion. Pretax profit fell 7.3% to GBP1.52 billion from GBP1.64 billion.

It raised its interim dividend by 5.0% to 80.4 pence from 76.6p. It also announced its next GBP1 billion share buyback programme will "commence imminently".

Informa fell 0.8%, while Ascential jumped 26%. Informa reported an increase in half-year revenue, and the business information publisher and events organiser struck a deal to acquire Cannes Lions operator Ascential. It will pay 568 pence in cash per Ascential share. The deal values Ascential's equity at GBP1.2 billion.

"Informa is in the business of creating, nurturing and growing world class B2B brands. Lions and Money20/20 are outstanding examples of such brands. Combined, we can expand them into more sectors, accelerate growth and take advantage of new opportunities," Informa Chief Executive Stephen Carter said.

Ascential CEO Philip Thomas said the deal will "deliver substantial value for our shareholders".

Informa also said revenue in the first half of 2024 totalled GBP1.70 billion, a rise of 12% year-on-year from GBP1.52 billion. Pretax profit declined by a quarter, however, to GBP237.4 million from GBP314.6 million.

Informa upgraded revenue guidance, and now expects revenue for 2024 to be above its previously stated guidance range of GBP3.45 billion to GBP3.50 billion. Revenue in 2023 totalled GBP3.19 billion.

Informa upped its interim dividend by 10% to 6.4 pence per share from 5.8p.

Elsewhere in London, Nichols shares rose 6.8% as the Vimto owner reported a profit improvement, raised guidance and announced a special dividend.

In the half-year to June 30, revenue fell 1.8% to GBP84.0 million from GBP85.5 million 12 months earlier. Pretax profit, however, rose 5.8% to GBP11.8 million from GBP11.2 million.

Nichols raised its ordinary interim dividend by 18% to 14.9p per share from 12.6p. It announced a 54.8p special dividend, which will return GBP20 million in total to shareholders.

Looking ahead, it said: "The company has begun trading in Q3 positively and in line with management expectations. Reflecting the progress made in H1 and underpinned by the group's ongoing focus on driving margin improvement, the board now expects to report full year adjusted profit before tax slightly ahead of current market expectations."

It puts market expectations for adjusted pretax profit at GBP28.8 million.

The pound was quoted at USD1.2892 early Wednesday in London, down from USD1.2915 at the London equities close on Tuesday. The euro stood at USD1.0832, falling from USD1.0855. Against the yen, the dollar was trading at JPY154.67, fading from JPY155.98.

Brent oil was quoted at USD81.26 a barrel early Wednesday, rising from USD80.95. Gold was quoted at USD2,413.54 an ounce, a rise from USD2,406.10.

[master rsi] 24/7/2024 08:58

MTO 120.20p +0.60p

Mitie doubles share buyback to £100m

(Sharecast News) - Facilities group and government contractor Mitie said it was doubling its share buyback programme, to £100m after good momentum in the first quarter of its fiscal year.

Mitie has since April bought 21 million shares at a cost of £25m, and average price per share of 119p each.

[master rsi] 24/7/2024 08:47

HOC 186.80p (9.80 / 5.54%%) -- Hochschild Mining reports robust first-half production
(Sharecast News) - Hochschild Mining reported robust first-half production numbers and a solid financial position in an update on Wednesday, having produced 103,752 ounces of gold and 4.1 million ounces of silver, amounting to 152,792 gold equivalent ounces and 12.7 million silver equivalent ounces.

The FTSE 250 company said that for the second quarter alone, production included 57,815 ounces of gold and 2.1 million ounces of silver, for 83,034 gold equivalent ounces, and 6.9 million silver equivalent ounces.

It reiterated its 2024 production guidance, expecting to produce between 343,000 and 360,000 gold equivalent ounces.

All-in sustaining costs were projected to range from $1,510 to $1,550 per gold equivalent ounce.

Operational highlights for the half-year included the Mara Rosa mine achieving commercial production with a strong forecast for the second half of the year.

Additionally, Hochschild secured shareholder approval from Cerrado Gold for an option to acquire the Monte do Carmo project, involving an initial payment of $15m and further instalments totaling $45m on exercising the option.

The company also started its 2024 brownfield drilling programme, with promising early results from the Inmaculada and Mara Rosa sites.

In terms of environmental, social, and governance (ESG) performance, Hochschild reported a lost time injury frequency rate of 1.08, an accident severity index of 62, and a significant reduction in water consumption to 136 litres per person per day.

Domestic waste generation remained steady at 0.94 kilograms per person per day, while the company's ECO score improved to 5.85 out of six.

Financially, Hochschild's total cash position rose to $89m as of 30 June, up from $73m at the end of March.

Net debt narrowed to $271m from $282m over the same period, with a current net debt-to-last 12 months EBITDA ratio of 0.8x.

"We have delivered a robust second quarter with another good performance from Inmaculada and a first material contribution from our new Mara Rosa mine in Brazil and remain on track to meet our annual production and cost guidance," said chief executive officer Eduardo Landin.

"We can now look forward to a substantial increase in output in the second half which, when combined with the current strong precious metal prices, is expected to see the company generate significant free cash flow."

[master rsi] 24/7/2024 08:32

FTSE

Opening lower with 31 points

[master rsi] 23/7/2024 23:57

HSS 7.30 v 7.40p +0.10p

The game of rising from the lows is ON

[master rsi] 23/7/2024 22:59

Director dealings:
C&C Group revealed on Tuesday that chairman Ralph Findlay had acquired 44,151 ordinary shares in the London-listed alcoholic drinks maker.

Findlay, who previously served as CEO of pub group Marston's, purchased the shares on Monday at an average price of 156.90p each, for a total value of £69,272.92.

Top Director Buys

Regional Reit Limited (RGL)

Director name: Inglis,Stephen

Amount purchased: 2,501,273 @ 10.00p

Value: £250,127.30

Regional Reit Limited (RGL)

Director name: Inglis,Stephen

Amount purchased: 2,435,063 @ 10.00p

Value: £243,506.30

C&c Group (cdi) (CCR)

Director name: Findlay,Ralph

Amount purchased: 44,151 @ 156.90p

Value: £69,272.92

Regional Reit Limited (RGL)

Director name: McGrath ,Kevin

Amount purchased: 388,853 @ 10.00p

Value: £38,885.30

Regional Reit Limited (RGL)

Director name: McGrath ,Kevin

Amount purchased: 388,853 @ 10.00p

Value: £38,885.30

Regional Reit Limited (RGL)

Director name: Inglis,Stephen

Amount purchased: 323,121 @ 10.00p

Value: £32,312.10

Value And Indexed Property Income Trust (VIP)

Director name: Valentine,Josephine Clare

Amount purchased: 13,500 @ 189.50p

Value: £25,581.83

Regional Reit Limited (RGL)

Director name: McGrath ,Kevin

Amount purchased: 152,295 @ 10.00p

Value: £15,229.50

Regional Reit Limited (RGL)

Director name: McGrath ,Kevin

Amount purchased: 152,295 @ 10.00p

Value: £15,229.50

Regional Reit Limited (RGL)

Director name: Inglis,Stephen

Amount purchased: 128,466 @ 10.00p

Value: £12,846.60

Carclo (CAR)

Director name: Amey,Rachel

Amount purchased: 5,000 @ 22.79p

Value: £1,139.50



Top Director Sells

Hvivo (HVO)

Director name: Friel,Cathal

Amount sold: 21,159,176 @ 29.00p

Value: £6,136,160.86

London Stock Exchange Group (LSEG)

Director name: Brand,Martin

Amount sold: 57,488 @ 9,444.41p

Value: £5,429,402.39

London Stock Exchange Group (LSEG)

Director name: Brand,Martin

Amount sold: 14,376 @ 9,444.41p

Value: £1,357,728.37

Darktrace (DARK)

Director name: Gustafsson,Poppy

Amount sold: 223,724 @ 583.00p

Value: £1,304,310.90

Mj Gleeson (GLE)

Director name: Mills,Christopher H B

Amount sold: 200,000 @ 600.00p

Value: £1,200,000.00

Me Group International (MEGP)

Director name: Janailhac,Jean-Marc

Amount sold: 198,555 @ 184.20p

Value: £365,738.31

[master rsi] 23/7/2024 22:38

Ascential minded to accept GBP1.2 billion bid from Informa

(Alliance News) - Ascential PLC on Tuesday said it could accept a bid proposal from Informa PLC which values the firm at around GBP1.16 billion.

Ascential, the London-based events, subscription business and advisory services-focused company, said the cash proposal values each share at 568 pence.

The latest plan follows a number of approaches by Informa, the London-based business information publisher and events organiser, in recent months, Ascential said.

"Having carefully evaluated the proposal, the board is engaged in advanced discussions with Informa regarding the proposal and confirms that it has informed Informa that it is minded to recommend the proposal," Ascential said in a statement.

Informa has until close of play on August 20 to formalise a bid for Ascential or walk away.

Shares in Ascential leapt 45% to 540.00 pence in London, spiking shortly before the close. Informa closed down 0.1% at 847.00p.

[master rsi] 23/7/2024 22:23

MARKET REPORT
LONDON MARKET CLOSE: Miners drag down FTSE 100 into red

(Alliance News) - Stock prices in London closed lower on Tuesday, with the FTSE 100 dragged down by lower copper prices.

The FTSE 100 index closed down 31.41 points, 0.4%, at 8,167.37. The FTSE 250 ended down 47.19 points, 0.2%, at 21,091.49, and the AIM All-Share closed down 3.07 points, 0.4%, at 780.17.

The Cboe UK 100 ended down 0.5% at 814.73, the Cboe UK 250 closed down 0.5% at 18,388.59, and the Cboe Small Companies ended down 0.4% at 17,248.12.

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

Consumer confidence in the eurozone continued its upward trajectory this month, official data on Tuesday suggested.

According to the European Commission, the flash eurozone consumer confidence indicator improved to minus 13.0 points in July from minus 14.0 in June.

The reading was better than FXStreet-cited market consensus of minus 13.2. The figure was approaching its long-term average, the Commission noted.

Across the Atlantic, in the US, existing home sales fell more than expected in June as house prices hit their highest-ever level for the second consecutive month.

According to the National Association of Realtors total existing-home sales fell 5.4% in June from May to a seasonally adjusted annual rate of 3.89 million in June. Year-over-year, sales also dropped 5.4% from 4.11 million in June 2023. FXStreet consensus had predicted a fall in June to 3.99 million.

"We're seeing a slow shift from a seller's market to a buyer's market," said NAR Chief Economist Lawrence Yun. "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis."

Stocks in New York were higher at the London equities close, with the DJIA up 0.2%, the S&P 500 index up 0.3%, and the Nasdaq Composite up 0.6%.

Still to come on Tuesday, Google owner Alphabet and electric carmaker Tesla report after the closing bell in New York.

The pound was quoted at USD1.2915 at the London equities close Tuesday, higher compared to USD1.2913 at the close on Monday. The euro stood at USD1.0855 at the European equities close Tuesday, lower against USD1.0881 at the same time on Monday. Against the yen, the dollar was trading at JPY155.98, lower compared to JPY156.88 late Monday.

At the top of the FTSE 100 index, Compass rose 4.5%, after it hailed strong growth across the board as it raised guidance for full-year growth in operating profit.

"All regions continue to perform well, and industry trends remain strong, providing Compass with an exciting pipeline of new business opportunities," the Chertsey, England-based contract caterer said in a trading statement.

On the other hand, there was a poor showing for mining firms.

Glencore and Anglo American lost 2.2%, Rio Tinto gave back 1.5% and Antofagasta was down 1.1%. They were among the worst FTSE 100 listed performers.

AJ Bell's Dan Coatsworth said that miners were dragged down on the back of weak copper prices.

"Copper futures have fallen by nearly 7% over the past five days amid concerns about sluggish demand from China as it struggles with a slowdown in economic growth. The market has taken the view that China isn't digging deep enough with stimulus measures to fire up the economy and therefore commodities demand is at risk," Coatsworth explained.

Oil prices also fell lower. Brent oil was quoted at USD80.95 a barrel at the London equities close Tuesday, down from USD82.15 late Monday.

On London's AIM, SkinBioTherapeutics jumped 27%, following the closure of its convertible bond facility.

The skin health-focused life science company received the final conversion notice from Macquarie for GBP480,000 on Monday of convertible bonds from the initial GBP5.0 million convertible bond facility announced earlier in the year.

Chief Executive Officer Stuart Ashman said: "We are pleased that the [convertible loan note] has now come to an end. Having listened to shareholder sentiment, we made the decision not to use the remainder of the facility. We have worked to reduce the initial loan note as swiftly as possible. Whilst the term of the note was designed to span two years, the entire facility has now been converted within six months of its introduction".

Gold was quoted at USD2,406.10 an ounce at the London equities close Tuesday, higher against USD2,397.10 at the close on Monday.

In Wednesday's UK corporate calendar, there is a trading statement due out from easyJet. There are also half year results from Aston Martin, Fresnillo, and Reckitt Benckiser.

The economic calendar for Wednesday has a slew of flash composite PMI data from the UK, the eurozone, Germany, and the US.

There is also an interest rate decision from Canada.

[master rsi] 23/7/2024 22:02

DOW

Finishing 57 points lower