Upstream Share Discussion Threads

[master rsi] 10/6/2025 10:51:05

ENQ 12.46p (0.32 / 2.64%) - EnQuest shares rise after Petronas recognition

(Sharecast News) - EnQuest shares were rising on Tuesday morning, after the company was named Petroleum Arrangement Contractor of the Year at the Petronas Emerald Awards in Kuala Lumpur, marking the second consecutive year it received the top honour.

It was also the first time in the history of the awards that a company had retained the title.

The London-listed firm's Malaysian operations also received the Abandonment Excellence award, with Malaysia's national energy company Petronas recognising EnQuest's performance across operational, governance, and regulatory benchmarks, as well as its collaboration with industry stakeholders throughout 2024.

EnQuest said the awards affirmed its decade-long presence in Malaysia and underscored its growing reputation in the south east Asian upstream sector.

The company said it had recently advanced a series of growth initiatives in the region, including the award of the DEWA PSC, a gas agreement at Seligi 1b, the acquisition of Harbour Energy's Vietnam business, and new PSC awards at Gaea and Gaea II in Indonesia.

EnQuest said it was targeting production of more than 35,000 barrels of oil equivalent per day in south east Asia by the end of the decade through a combination of optimisation, organic investment, acquisitions and regional expansion.

"To receive this recognition once is a great honour; to receive it twice, back-to-back, is a powerful testament to the consistency, capability, and commitment of the EnQuest team, both onshore and offshore," said south east Asia general manager Radzif Ahmed

Ahmed said 2024 was "a significant year" for EnQuest Malaysia, noting that it celebrated our 10 years in Malaysia, the DEWA PSC awards, and enhanced Seligi gas development, alongside zero lost time injuries.

[master rsi] 10/6/2025 10:33:55

Filtronic secures largest contract award to date with SpaceX

(Sharecast News) - Advanced RF solutions business Filtronic said on Tuesday that it has secured its largest contract award to date with SpaceX.

Filtronic said it had been awarded a follow-on order from SpaceX for the supply of its market-leading E-band Cerus 32 Solid State Power Amplifier, with the irrevocable order worth $32.5m expected to be materially fulfilled in FY26.

The AIM-listed group said the award "reflects the strength and continued success" of its strategic partnership with SpaceX.

As a result, Filtronic said it was now confident that it will exceed current revenue expectations for FY26.

Chief executive Nat Edington said: "We are delighted to have secured our largest order to date with SpaceX, reinforcing Filtronic's growing reputation for delivering high-performance RF solutions to the high-growth space market. This milestone builds on the momentum of recent contract awards and highlights the progress we are making as we expand in key strategic markets."

As of 1000 BST, Filtronic shares were up 8.46% at 141.0p.

[master rsi] 10/6/2025 10:04:07

GBG 246.50p (-24.50 / -9.04%) - GB Group swings to profit and lifts dividend amid turnaround progress

(Alliance News) - GB Group PLC on Tuesday reported a return to profit and increased its dividend, as the firm posted improved margins and a reduction in net debt for its recently ended financial year.

The Chester, England-based software company specialising in fraud prevention and identity verification said pretax profit for the year ended March 31 was GBP15.7 million, swinging from a GBP50.4 million loss the year before.

Adjusted operating profit rose 9.5% to GBP67.0 million, as the adjusted operating margin improved to around 24% from 22%.

Revenue was GBP282.7 million, edging up 1.9% from GBP277.3 million. Identity and location services grew modestly, offsetting declines in fraud and compliance.

GB Group declared a final dividend of 4.40 pence per share, up 4.8% from 4.20p, and said it plans to return over GBP21 million to shareholders in financial 2026. Net debt fell 40% to GBP48.5 million from GBP80.9 million.

The firm launched its new global platform, GBG GO, and said it is exploring a move from AIM to the London Main Market.

The company said it expects financial 2026 results to be in line with current market expectations.

[master rsi] 10/6/2025 09:39:34

BOOM 382.50p +7.50p

Stuart Last CEO
Very pleased to partner with ⁦@GumballFM297; to bring Adaptive Ads to our Showcase marketplace. It’s a very cool ad product that expands revenue options for our creators through AI.
---------------
Shoutout to our @Audioboom's tech team and our Senior Developer, Dominic Chalcraft for rolling out some awesome tech updates lately. They've been on a mission to make #podcast advertising as efficient and effective as possible!

[master rsi] 10/6/2025 09:14:49

MARKET REPORT
LONDON MARKET OPEN: Housebuilders boost FTSE 100; UK data hurts pound

(Alliance News) - The FTSE 100 outperformed as European stocks opened mixed on Tuesday, while the pound struggled in the wake of a softer UK labour market report.

The FTSE 100 index opened up 37.88 points, 0.4%, at 8,870.16. The FTSE 250 was up 63.76 points, 0.3%, at 21,349.67, and the AIM All-Share was down 0.76 of a point, 0.1%, at 763.13.

The Cboe UK 100 was up 0.5% at 883.36, the Cboe UK 250 added 0.4% at 18,860.56, and the Cboe Small Companies was flat at 16,945.55.

In European equities on Tuesday, both the CAC 40 in Paris and the DAX 40 in Frankfurt were 0.1% lower.

The pound fell to USD1.3463 early Tuesday, from USD1.3556 at the time of the London equities close on Monday, while the euro was lower at USD1.1393 from USD1.1419. Versus the yen, the dollar rose to JPY144.76 from JPY144.42.

The UK unemployment rate rose slightly in the three months to April, as expected, while pay growth was more moderate than forecast, according to numbers on Tuesday.

The Office for National Statistics said the UK unemployment rate increased to 4.6% in the period from February to April, from 4.5% in the first three months of 2025. The last time the jobless rate was higher was in the period from April to June 2021, at 4.7%, according to the ONS.

The jobless rate was in line with FXStreet-cited consensus.

The ONS said annual growth in average earnings was 5.2% for regular earnings, which exclude bonuses, and 5.3% for total earnings, which factor in bonuses.

However, regular earnings growth of 5.4% was expected, and total earnings growth of 5.5% was predicted, according to FXStreet.

Regular earnings growth eased from 5.5% in the three months to March, and total earnings growth ebbed from 5.6%.

XTB analyst Kathleen Brooks commented: "The latest UK labour-market update showed a softening in the job market last month and a drop in wage growth, most notably for private-sector workers. The unemployment rate rose a notch and the ONS reported that firms may not be recruiting new workers or replacing workers who have left. Overall, this is a grim labour market survey and if this trend continues, it could spell worrying times for the UK economy."

The yield on the US 10-year Treasury was quoted at 4.45% early Tuesday UK time, narrowing from 4.49% at the time of the closing bell on the London Stock Exchange on Monday. The 30-year yield narrowed to 4.92% from 4.96%.

Key trade talks between US and Chinese officials in London will stretch into a second day, a source told AFP Monday, with both sides seeking to shore up a shaky tariff truce further strained by export curbs.

The gathering of key officials from the world's two biggest economies began Monday in the historic Lancaster House, run by the UK Foreign Office, following a first round of talks in Geneva last month.

Chinese Vice Premier He Lifeng was again heading the team in London, which included Commerce Minister Wang Wentao and China International Trade Representative Li Chenggang.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are leading the US delegation.

In New York on Monday, the Dow Jones Industrial Average ended slightly lower. The S&P 500 edged up 0.1%, while the Nasdaq Composite climbed 0.3%.

In Tokyo on Tuesday, the Nikkei 225 was 0.3% higher. In China, the Shanghai Composite was down 0.74%, falling into the red in afternoon trade despite spending the morning in the green. It was a similar story for the Hang Seng in Hong Kong which was down 0.3%. Financial markets in Sydney re-opened on Tuesday after a holiday on Monday. The S&P/ASX 200 ended 0.8% higher.

A barrel of Brent oil rose to USD66.98 early Tuesday from USD66.88 late Monday. Gold traded at USD3,328.79 an ounce, declining slightly from USD3,329.84.

In London, housebuilders were among the stand out performers. Bellway rose 4.9%. Bellway said it is on track for "strong growth in volume output and profits" in its financial year, and it predicted average selling prices will be above previous guidance.

The housebuilder said it saw "robust" trading through the spring selling period.

"Bellway has delivered a solid trading performance, and we are on track to deliver strong growth in volume output and profits in the full financial year. We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in FY26," Chief Executive Jason Honeyman said.

Volume output for the year to July 31 is now expected between 8,600 and 8,700 homes, a rise from 7,654 home in the prior financial year. In its March interim results, it predicted output of at least 8,500 homes.

The overall average selling price is now expected to be around GBP315,000, up from its previous guidance of GBP310,000 and a rise from GBP307,909 last year. It put the guidance hike to "changes in product mix".

"The group is now fully sold for the current financial year and if market conditions remain stable, Bellway remains well-positioned to deliver cumulative volume growth of 20% in the two years to 31 July 2026," it added.

On the FTSE 100, Persimmon and Barratt rose 3.5% and 3.0% in a positive read-across, the best large-cap performers.

Aberdeen added 7.1% after JPMorgan lifted the stock to 'overweight' and placed it on 'positive catalyst watch'.

Hochschild slumped 19%. It expects a "significant reduction" to guidance for its Mara Rosa mine in Brazil.

"The company has previously disclosed that operations at Mara Rosa have been adversely affected by heavier-than-usual seasonal rainfall over the past few months as well as contractor performance issues. These conditions have limited access to ore, particularly the higher-grade zones within the pit, and have further compounded ongoing challenges with the filtering processes. As a result, efforts to recover from delays in mine waste removal carried over from the previous year have been further prolonged," the gold miner said.

Elsewhere, Revolution Beauty added 5.9%. Frasers Group confirmed its interest in Revolution Beauty, and the Sports Direct owner said that any offer it makes for the cosmetics product retailer will be all cash. Frasers, however, said there is no certainty that a bid will be made.

Revolution Beauty confirmed Monday that Sports Direct owner Frasers Group is one of a number of parties eyeing a bid for the company. It said Frasers is "one of a number of parties conducting due diligence" as part of the formal sale process announced in May.

[master rsi] 10/6/2025 08:49:39

BOOM 377.5p ( 375 v 380p )+2.50p

There was a 5K buy earlier and now another one paying 4p premium 384p

08:43:36 384 5,000

[master rsi] 10/6/2025 08:08:16

FTSE

On the up with 31 points at opening

[master rsi] 09/6/2025 23:40:12

Spending review is 'settled', says Downing Street
(Alliance News) - The spending review is "settled", Downing Street has said, after the Home Office was the last department locked in budget negotiations.

Chancellor Rachel Reeves is expected to announce funding increases for the NHS, schools and defence along with a number of infrastructure projects on Wednesday, as she shares out some GBP113 billion freed up by looser borrowing rules.

But other areas could face cuts as she seeks to balance manifesto commitments with more recent pledges, such as a hike in defence spending, while meeting her fiscal rules that promise to match day-to-day spending with revenues.

On Monday morning, Home Secretary Yvette Cooper was the last minister still to reach a deal with the Treasury, with reports suggesting greater police spending would mean a squeeze on other areas of her department's budget.

Speaking to reporters on Monday afternoon, the Prime Minister's official spokesman said: "The spending review is settled, we will be focused on investing in Britain's renewal so that all working people are better off.

"The first job of the Government was to stabilise the British economy and the public finances, and now we move into a new chapter to deliver the promise and change."

The Government has committed to spend 2.5% of gross domestic product on defence from April 2027, with a goal of increasing that to 3% over the next parliament – a timetable which could stretch to 2034.

Reeves' plans will also include an GBP86 billion package for science and technology research and development.

Last week the Chancellor admitted that she had been forced to turn down requests for funding for projects she would have wanted to back, amid the Whitehall spending wrangling.

Mayor of London Sadiq Khan's office is concerned that Wednesday's announcement will include no new funding or projects for London.

The mayor had been looking to secure extensions to the Docklands Light Railway and Bakerloo line on the Underground, along with the power to introduce a tourist levy and a substantial increase in funding for the Metropolitan Police.

A source close to the mayor said on Monday that ministers "must not return to the damaging, anti-London approach of the last government", adding this would harm both London's public services and "jobs and growth across the country".

They said: "Sadiq will always stand up for London and has been clear it would be unacceptable if there are no major infrastructure projects for London announced in the spending review and the Met doesn't get the funding it needs.

"We need backing for London as a global city that's pro-business, safe and well-connected."

[master rsi] 09/6/2025 22:06:20

MARKET REPORT
LONDON MARKET CLOSE: FTSE 100 dips but M&A keeps mid-caps in the green

(Alliance News) - Stocks in London closed mixed on Monday amid a fresh burst of mid-and-small cap M&A activity, while the wider market watched as US-China trade talks resumed.

The FTSE 100 index fell 5.63 points, 0.1%, at 8,832.28. The FTSE 250 ended up 128.63 points, 0.6%, at 21,285.91, and the AIM All-Share climbed 7.01 points, 0.9%, at 763.89.

The Cboe UK 100 ended flat at 878.81 on Monday, the Cboe UK 250 added 1.0% at 18,790.89, and the Cboe Small Companies climbed 0.3% at 16,945.55.

In Paris, the CAC 40 fell 0.2%, while Frankfurt's DAX 40 ended 0.5% lower.

The pound was quoted at USD1.3556 late on Monday afternoon in London, higher compared to USD1.3522 at the equities close on Friday. The euro stood at USD1.1419, higher against USD1.1387. Against the yen, the dollar eased to JPY144.42 compared to JPY144.93.

On London's FTSE 250, Spectris leapt 64% after receiving a more than GBP3.7 billion cash and shares bid from private equity firm Advent International LP.

Should a firm offer be made, "the board has carefully considered the proposal together with its advisers and concluded that the proposal is at a value that the board would be minded to recommend unanimously to Spectris shareholders," said Spectris.

Meanwhile, Alphawave IP soared 19% as it agreed to a USD2.4 billion takeover from US semiconductor firm Qualcomm.

The cash deal values the London-listed high-speed connectivity solutions firm's shares at USD2.48 each, or around 183 pence.

"Qualcomm's acquisition of Alphawave represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers," said Alphawave Chief Executive Officer Tony Pialis.

Charles Hall at Peel Hunt noted there have been 30 bids for UK companies at over GBP100 million market value year-to-date with a total value of GBP25 billion.

At the same time there has been just one initial public offer offer year-to-date of more than GBP100 million, he pointed out.

"Companies in the UK seem to be far more attractive to acquirers than investors. The root cause is the consistent outflow of capital from domestic markets. If we want the UK equity market to thrive, an urgent rethink is required to ensure that UK capital backs UK companies," Hall said.

"The scale of M&A and lack of IPOs is resulting in a material reduction in the number of UK listed growth companies. It is essential that action is taken to ensure the health of the ecosystem and enable companies to grow, scale and stay in the UK. We believe this can be done through reform of pension funds, ISAs, and stamp duty," Hall added.

In New York, the Dow Jones Industrial Average was down 0.2%, the S&P 500 climbed 0.1% and the Nasdaq Composite sat 0.3% higher at the time of the closing bell in London.

The yield on the US 10-year Treasury was quoted at 4.49%, stretching from 4.48% on Friday. The yield on the US 30-year Treasury was quoted at 4.96%, widening from 4.94%.

After a round of talks in Geneva last month, the US and China will sit down at the negotiating table in London on Monday to attempt to preserve a fragile truce on trade, despite simmering tensions.

US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will lead the US delegation, President Donald Trump announced Friday.

Chinese Vice Premier He Lifeng – who led Beijing's negotiating team in Geneva – will also lead the team in London, the foreign ministry announced at the weekend.

On the FTSE 100, M&G rose 3.2% as UBS upgraded to 'buy', but WPP fell 2.8% after it said Mark Read will step down as chief executive officer at the end of 2025 after seven years leading the company.

Read has spent over 30 years at the company and took on the role of CEO in September 2018, following the abrupt departure of founder Martin Sorrell.

In London, shares in Cordel plunged 12% after it warned full-year revenue will be lower than forecast.

The London-based company, which uses artificial intelligence to supply transport corridor analytics, expects to report revenue in the range of GBP4.7 million and GBP5.0 million for the financial year to June 30. It would represent growth of up to 12% from GBP4.4 million a year prior.

But Chief Executive John Davis said it will be "lower than forecast", despite the firm making "excellent strategic progress" in the financial year.

Broker Cavendish lowered its financial 2025 revenue forecast to GBP4.8 million from GBP6.2 million.

CEO Davis said economic uncertainty, particularly in the US, has "unfortunately led to protracted sales cycles and delayed revenue, which has impacted our normally strong second half revenue".

Elsewhere Dunelm fell 3.9% after RBC Capital Markets downgraded to 'sector perform' from 'outperform'.

"We view Dunelm as a high quality business. It's cash generative, has executed well in recent years and expansion potential has stepped up. But we think this is now more reflected in its valuation," the broker said in a research note.

Meanwhile, Trustpilot slid 5.8% as Panmure Liberum slapped a 'sell' rating on the company.

Analyst Sean Kealey thinks Trustpilot finds itself "at the foothills of a complex multi-year" business transition.

He argued that the current valuation assumes "perfect execution" over a "multi-decade time horizon despite near-term macro risks and medium-term business profile uncertainty."

The biggest risers on the FTSE 100 were Melrose Industries, up 16.80 pence at 484.60p, Spirax, up 190.00p at 5,940.00p, M&G, up 7.40p at 251.20p, JD Sports Fashion, up 2.04p at 82.60p, and Fresnillo, up 32.00p at 1,374.00p.

The biggest fallers on the FTSE 100 were WPP, down 15.40p at 543.40p, Hiscox, down 33.00p at 1,318.00p, Aviva, down 11.80p at 615.00p, Marks & Spencer, down 6.90p at 359.80p and Haleon, down 7.40p at 397.80p.

Brent oil rose to USD66.88 a barrel late in London on Monday afternoon, from USD66.21 late Friday. Gold was quoted slightly lower at USD3,329.84 an ounce against USD3,330.06.

Tuesday's economic calendar has UK unemployment and average earnings data and the BRC retail sales monitor overnight.

Tuesday's UK corporate calendar has a trading statement from housebuilder Bellway, and transport operator FirstGroup.

[master rsi] 09/6/2025 21:45:51

DOW

Down, up and finished 1 point lower

[master rsi] 09/6/2025 16:30:14

How the UPS are performing during last month

[master rsi] 09/6/2025 16:15:27

How the UPS are performing today

[master rsi] 09/6/2025 15:21:03

EEE 18.125p +4.175p

After the news today ( 3 in a row ) the stocks have gone nuts and still rising

[master rsi] 09/6/2025 15:05:43

DOW

On the waay down with 125 points

[master rsi] 09/6/2025 12:53:09

How the UPS are performing during last month

[master rsi] 09/6/2025 12:22:37

How the UPS are performing today

[master rsi] 09/6/2025 12:09:30

BOOM 362.50p +2.50p

Waiting to go better