Upstream Share Discussion Threads

[master rsi] 09/7/2025 14:42:39

DOW

On the up with 252 points

[master rsi] 09/7/2025 13:24:08

Tekmar wins GBP2.0 million contract for Middle East pipeline project

(Alliance News) - Tekmar Group PLC on Wednesday said it has won a contract to supply subsea infrastructure technology for a pipeline project in the Middle East.

The Newton Aycliffe, England-based technology and services provider for global offshore energy markets said the deal has been won through a major offshore engineering, procurement and construction contractor operating in the Middle East.

The contract is worth around GBP2.0 million, with the full amount to be recognised during this financial year.

Tekmar said this covers the design and manufacture of specialist reinforced concrete support structures for a large diameter gas pipeline.

It said there is also potential for "additional scope supporting the broader requirements of the project".

Delivery of the contract is scheduled to be completed by September 2025.

"We are delighted to have been selected for this significant project in the Middle East, which remains a key market for the group," said Chief Executive Officer Richard Turner.

"As an existing customer of Tekmar, it underscores the trust our customers have in our technical expertise and our ability to deliver high-value infrastructure solutions worldwide."

Shares in Tekmar were up 9.6% at 6.30 pence in London on Wednesday afternoon.

[master rsi] 09/7/2025 13:01:56

MARKET REPORT
LONDON MARKET MIDDAY: Stocks up as EU hopes for US trade deal soon

(Alliance News) - Stock prices in Europe pushed higher on Wednesday, aided by optimism that the EU can strike a trade agreement with the US and avoid lofty tariffs.

The EU wants to strike a deal with the US "in the coming days" to avoid sweeping tariffs, a spokesman said Wednesday.

"The US has moved its deadline for finalising deals with partner countries to the first of August. However, we aim to reach a deal before then, potentially even in the coming days, we have shown our readiness to reach an agreement in principle," EU trade spokesman Olof Gill said.

The FTSE 100 index rose 29.03 points, 0.3%, to 8,883.21. The FTSE 250 was up 26.31 points, 0.1%, at 21,607.99, but the AIM All-Share was down 2.33 points, 0.3%, at 773.17.

The Cboe UK 100 was up 0.5% at 885.91, the Cboe UK 250 rose 0.1% to 19,106.76, and the Cboe Small Companies gave back 0.1% to 17,569.02.

In European equities on Wednesday, the CAC 40 in Paris jumped 1.2%, while the DAX 40 in Frankfurt surged 1.1%. Only a handful of blue-chips in Paris and Frankfurt traded lower.

Germany's Chancellor Friedrich Merz said Wednesday he was "cautiously optimistic" about the prospects of a deal between the EU and the US to avert increased tariffs threatened by President Donald Trump.

"I am cautiously optimistic that we may succeed in reaching an agreement with the US in the next few days or at the latest by the end of the month," Merz told parliament.

Rostro analyst Joshua Mahony said investors a positioning "themselves in anticipation of a potential breakthrough in trade talks between the US and EU".

"German Chancellor Merz provided one such voice, noting that he is cautiously optimistic thanks to ongoing intensive contact with the US government. However, whilst there is a potential framework for a deal being put together, the apparent US insistence of a 17% tariff on EU agricultural goods does provide a potential roadblock going forward. This is where it becomes difficult to please all parties, as the priorities of the German (autos) will be very different to the French (agri)," the analyst added.

The yield on the US 10-year Treasury was quoted at 4.41% early Wednesday afternoon, slimming from 4.42%, where it stood at the time of the London equities close on Tuesday. The yield on the US 30-year Treasury was quoted at 4.93%, easing from 4.96%.

Stocks in New York are called to open higher. The Dow Jones Industrial Average is called up 0.2%, and the S&P 500 and Nasdaq Composite up 0.1%.

President Trump said Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies, while announcing plans for a 50% duty on copper imports.

"That's a shift in tone from Trump's own comments on Monday evening, as Trump had said that the August 1 date was "not 100% firm", and investors had been hopeful that ongoing negotiations and trade deals could avoid that. So it's a clear hardening up of the rhetoric," analysts at Deutsche Bank commented.

"In addition, the president took a more hawkish tone, indicating that some countries would be seeing a 60% or 70% tariff rate and that sectoral tariffs are coming."

Trump also said Washington would soon make an announcement on pharmaceuticals, but officials would allow manufacturers time to relocate their operations into the country.

"We're going to give people about a year, a year and a half to come in, and after that, they're going to be tariffed," he said. "They're going to be tariffed at a very, very high rate, like 200%."

Apart from copper and pharmaceuticals, Trump has ordered probes into imports of lumber, semiconductors and critical minerals that could lead to further levies.

Rostro's Mahony added: "With roughly half of US copper coming from abroad, there is a clear desire to remove this dependency."

In London, Glencore was down 2.6%, Anglo American shed 2.2%, while Antofagasta fell 1.6%.

WPP was the worst FTSE 100 performer, however, slumping 17%. The advertising firm cut guidance following a tricky first half. WPP now expects a 2025 like-for-like revenue decline, excluding pass through costs, between 3% and 5%. It predicts a decline in headline operating profit margin of 50 to 175 basis points, excluding foreign exchange.

It also sees "continued macro uncertainty weighing on client spend" going forward.

The pound rose to USD1.3586 early Wednesday afternoon, from USD1.3574 at the time of the London equities close on Tuesday. The euro fell to USD1.1704 from USD1.1709 while against the yen, the dollar fell to JPY146.61 from JPY146.82.

Trade tariffs could increase the risk of some businesses falling behind on loans, while a high proportion of the UK workforce is in sectors more exposed to global shocks, the Bank of England has warned.

Households and businesses nonetheless remain resilient, and the UK banking system is equipped to support them even if conditions significantly worsen, the Bank's Financial Policy Committee, FPC, said in its latest report.

The FPC said there was a high degree of unpredictability about how global trade will evolve, with US President Donald Trump hiking tariff rates in April but negotiations with other countries over possible trade deals ongoing.

Conflict in the Middle East has also raised the risk of energy prices spiking, particularly if the supply of oil and gas were disrupted, it found.

However, the FPC concluded that despite pockets of vulnerability, UK businesses would typically be able to pay their debts even in the face of further global volatility such as lower demand and supply.

Furthermore, the report found that the UK banking system has the capacity to support households and businesses even if economic and business conditions became substantially worse than expected.

A barrel of Brent traded at USD69.85 midday Wednesday, flat from USD69.87 late Tuesday afternoon. Gold fell to USD3,295.22 an ounce from USD3,297.61.

Back in London, Galliford Try rose 3.2%. It expects to report a full-year performance ahead of forecasts.

The construction company predicted revenue and adjusted pretax profit ahead of the current market forecasts for the year ended June 30. It puts the consensus range for revenue between GBP1.86 billion and GBP1.89 billion, and the profit range between GBP40.1 million and GBP41.6 million.

"I am delighted that all our operations continued to perform strongly throughout the second half of the year and we expect to report another year of increased revenue and profit in September," CEO Bill Hocking said.

Over in Paris, EssilorLuxottica was on the rise, surging 5.9%. Meta Platforms has snapped up a roughly 3% stake in Ray-Ban maker, Bloomberg reported on Tuesday.

Meta has bought a stake worth roughly EUR3 billion, now owning just under 3% of Paris-listed EssilorLuxottica. Bloomberg cited people familiar with the matter.

The sources said Menlo Park, California-based Meta could build its stake to around 5%.

The duo currently team for the Meta AI range of products, which include Ray-Ban and Oakley smart glasses.

Still to come on Wednesday, minutes from the Federal Reserve's most recent meeting are released at 1900 BST.

"Tonight's minutes could tilt sentiment if they reveal more dovish consensus than currently priced," SPI Asset Management analyst Stephen Innes commented.

[master rsi] 09/7/2025 12:31:25

How the UPS are performing during last month

[master rsi] 09/7/2025 12:19:47

How the UPS are performing today

[master rsi] 09/7/2025 11:35:12

Renold reports record trading ahead of recommended takeover

(Sharecast News) - Renold reported record trading for the year ended 31 March on Wednesday, with earnings and revenue rising on strong demand, strategic acquisitions and disciplined pricing.

However, the AIM-traded industrial chain manufacturer also warned of a softer start to the current financial year, citing weaker volume demand and continued macroeconomic uncertainty.

Revenue rose 1.5% to £245.1m, or 3.9% at constant currency, while adjusted operating profit climbed 8.4% to £32.2m, lifting return on sales by 80 basis points to 13.1%.

Adjusted earnings per share increased 15.4% to 9.0p, although basic earnings slipped to 7.6p per share, from 8.3p, due to one-off items.

Order intake grew 9.9% at constant currency to £250.1m, while the closing order book remained stable at £83.0m.

"I am pleased that the group performed strongly throughout the year, reflecting Renold's excellent market position and fundamentals, combined with all the hard work, strategically, commercially and operationally, that has been undertaken over recent years," said chief executive Robert Purcell.

The company completed two acquisitions during the year.

Mac Chain, purchased for $30.9m in September, expanded Renold's footprint in North America and the forestry chain market.

More recently, the group acquired Italian transmission chain specialist Ognibene for €10m in June - a deal expected to be immediately earnings accretive.

Capital investment also increased to £16.4m, including the purchase of its Cardiff facility and the rebuild of a flood-hit plant in Valencia.

Despite the strategic gains, Renold warned of a more cautious start to the 2026 financial year.

He added that pricing initiatives and supply chain flexibility had helped mitigate cost pressures and tariff changes, and that further action would be taken if necessary.

A weaker dollar also presented a potential earnings headwind if current exchange rates persisted.

The update came as the company remained in the process of a recommended takeover by MPE Bid Co, which offered 82p per share.

As of 9 July, the offer remained subject to shareholder and regulatory approvals.
If successful, the deal is expected to complete in the current financial year.

[master rsi] 09/7/2025 10:59:58

Despite Director say everything very rosy the results says otherwise, no wonder the share price is down ..
..


ZIG 337p -24p / Results ahead of expectations with strong operational performance,positive outlook for current year
ZIGUP plc (LSE:ZIG), the leading integrated mobility solutions platform providing services across the vehicle lifecycle, is pleased to announce its results for the full year ended 30 April 2025.

Martin Ward, CEO of ZIGUP, commented:

The Group has delivered a strong operational performance, reflecting a year of significant progress across the business, growing market share and benefitting from material improvements in customer service scores. We have an excellent market position as at least a top three player in each of our markets which are highly receptive environments for our differentiated mobility solutions. We are continually improving these with a technology-enabled and value-added offering which is attractive to a growing and increasingly diverse customer base. I am delighted with the progress made across the business and it sets us up very well for the coming year.

Spain has grown VOH well in excess of its market, and UK&I is positioning itself well for growth with a simpler customer journey and a healthy new business pipeline. With six new partners joining the mobility platform and many of our major insurance partner contracts having successfully renewed in the year, Claims & Services has good visibility after what has been a challenging industry dynamic this year.

Vehicle supply has normalised and the market headwinds of vehicle residual values and replacement hire lengths have been stable since the autumn. The refinancing undertaken in the year further enhances our financial capacity and allows us to be responsive to opportunities to generate attractive and sustainable shareholder value; we start the new financial year with confidence for underlying growth opportunities.

Key financial highlights

· Total revenue down 1.1%; underlying revenue up 2.3% supported by strong rental business performances

· Vehicle hire revenue rose 5.2%; Spain up 9.5% underpinned by strong VOH growth, UK&I up 2.0% with pricing actions offsetting a reduction in VOH in the final quarter

· Disposal profits down 15.2% to £52.5m (2024: £61.9m); total sales volumes of 34,500 (2024: 36,800): LCV residual values stable since October 2024, having moderated over H1, as previously guided

· Rental margin: Spain up 1.1ppts to 19.3%, UK&I up 0.2ppts to 15.7%; Claims & Services EBIT margin of 4.3% (2024: 6.0%) reflecting normalising hire durations early in year and H1 cyber incident

· Underlying PBT down 7.6% to £166.9m as disposal profits 15.2% lower and reduced Claims & Services profits only partially offset by rental profit growth of 9.1%

· Reported PBT of £101.5m (2024: £162.1m) includes £26.5m unwind of 2022 depreciation adjustment (2024: £nil); exceptional items of £20.6m includes £12.8m expected full costs of NewLaw withdrawing from personal injury market and £2.8m for H1 cyber incident

· Underlying EBITDA grew 4.1% to £464.5m (2024: £446.3m) due to strong operational performance; net capex outflow of £453.4m, principally replacement capex (£388.3m) with UK&I and Spain fleet ages reduced by 5.5 months and 2.7 months respectively as vehicle supply improving

· Strong balance sheet with prudent 1.8x leverage (2024: 1.5x), supported by fleet assets of £1.51bn(2024: £1.30bn) and £412m of facility headroom after refinancing actions

· Shareholder returns: 2.3% increase in full year dividend to 26.4p

Business highlights

· Fleet growth: Group fleet 131,600 vehicles (2024:128,600); improved supply has enabled Spanish fleet growth, plus significant reduction in UK&I fleet age to 28.5 mths as older vehicles defleeted

· New wins & strong demand: continued healthy Spanish environment, UK new business wins, insurance contract extensions & six new wins; new partner channels added for ChargedEV and fleet management

· Simplified customer engagement: Account management and sales channel simplification fully embedded in UK plus new Spanish CRM; reducing vehicle churn with existing customers and supporting over 250 new rentals from cross-sell referrals; ancillary income up 9% including fleet management

· Talent development: King's Award for Enterprise 2025 recognising our work in social mobility; growth in apprenticeships and early careers; average age of technicians reduced from 54 years to 41 years since FY2023

· Customer service & digitalisation: 'Customer First' programme delivering record Trustpilot and NPS scores; scaling up of customer self-service capability across UK rental and claims processing productivity; upgraded Spanish e-auction platform; RTA vehicle recovery product growth

· Investment in facilities and new products: Six new facilities operational in the year (three in Spain) with more scheduled for H1 FY2026; workshop investment including ADAS and plastic welding; enhanced product offerings including corporate car rental, micro-mobility, upgraded telematics and asset tracking

*All figures are underlying unless identified as reported. See GAAP reconciliation on page 4

Outlook

We see good opportunities in FY2026, with robust demand for our mobility solutions across our markets. Our differentiated position and clear strategic framework will enable the business to drive sustainable growth in underlying revenues, profitability and cashflow and deliver attractive shareholder returns. We would expect this to include achieving mid/upper single digit underlying EBIT growth for our operating divisions, before taking into account disposal profits.

Analyst Briefing and Investor Meet presentation

A hybrid presentation for sell-side analysts and institutional investors will be held at 9.30am today, 9 July 2025. If you are interested in attending, please email Burson Buchanan on [e-mail] to request the joining details. This presentation will also be made available via a link on the Company's website www.zigup.com

The Company will also provide a roadshow presentation via the Investor Meet Company platform on Monday 14 July 2025 at 3.00pm for institutional and retail investors. Questions can be submitted pre-event up to 9.00am on 13 July 2025. Investors can sign up to Investor Meet Company for free and add to meet ZIGUP plc via the following link: hxxps://www.investormeetcompany.com/zigup-plc/register-investor

[master rsi] 09/7/2025 10:48:04

Top GainersName Last Chg. Chg. %British American Tobacco 3,653.0 +125.0 +3.54%Smith & Nephew 1,127.71 +27.71 +2.52%Airtel Africa 186.82 +2.92 +1.59%Imperial Brands 2,889.00 +43.00 +1.51%Rolls-Royce Holdings 978.40 +12.00 +1.24%Top LosersName Last Chg. Chg. %WPP 439.61 -87.99 -16.68%Antofagasta 1,871.50 -48.00 -2.50%Anglo American 2,170.5 -54.5 -2.45%Glencore 299.05 -7.35 -2.40%JD Sports Fashion 86.60 -1.82 -2.06%

[master rsi] 09/7/2025 09:49:23

UK competition watchdog to close housebuilder probe with commitments

The companies will also make a combined financial contribution of £100 million to the Government’s Affordable Homes Programme, with Taylor Wimpey’s portion amounting to £15.84 million. This payment will be made within three months of formal notification of the CMA’s acceptance and will be treated as an exceptional item in Taylor Wimpey’s half-year

The companies will also make a combined financial contribution of £100 million to the Government’s Affordable Homes Programme, with Taylor Wimpey’s portion amounting to £15.84 million. This payment will be made within three months of formal notification of the CMA’s acceptance and will be treated as an exceptional item in Taylor Wimpey’s half-yearyear results.

The CMA’s consultation on the proposed commitments will remain open until July 24, 2025, after which the authority will make its final decision.

Taylor Wimpey stated it welcomes the CMA’s intention to conclude the investigation through voluntary commitments and will continue to work with the authority as the process concludes.

The commitments offered do not constitute an admission of wrongdoing by any of the companies involved, according to the statement based on the press release

[master rsi] 09/7/2025 09:32:18

UPS

BOOM 302.50p ( 300 v 305p )

Results yesterday and were good on the report and better looking ahead. Over reaction since by some have gone oversold at this price. Now paying higher prices very close to full offer.
--------------- Intraday ----------------------------------- 2 months --------------------------------------- 1 year ---------------
INDICATORS

[master rsi] 09/7/2025 09:25:48

Galliford Try FY profit, revenue seen ahead of analysts' expectations

(Sharecast News) - Construction group Galliford Try said on Wednesday that full-year profit and revenue were set to be ahead of analysts' expectations.

In an update on trading for the year to 30 June, it said the strong performance reported at the half-year results, notably in its water and highways businesses, continued through the second half of the year.

As a result, it now expects full-year revenue and adjusted pre-tax profit "slightly" above the upper end of current analyst forecasts of between £1.86bn and £1.89bn and £40.1m and £41.6m, respectively.

Galliford said the stronger trading is expected to deliver further margin progression towards its 2030 sustainable margin target of 4% and previously-communicated margin target of 3% in 2026.

Chief executive Bill Hocking said: "I am delighted that all our operations continued to perform strongly throughout the second half of the year and we expect to report another year of increased revenue and profit in September.

"As a UK only contractor, our confidence in the future is supported by our high-quality order book as well as a long-term pipeline of future opportunities in key sectors as supported by the investment proposals in last month's Spending Review and UK Infrastructure Strategy plans."

At 0900 BST, the shares were up 3.3% at 433.90p.

[master rsi] 09/7/2025 09:10:51

MARKET REPORT
LONDON MARKET OPEN: Europe rises despite new US tariff mayhem

(Alliance News) - Stock prices in Europe opened in the green on Wednesday, shaking off a more stern tone from US President Donald Trump on trade policy, though the threat of sector tariffs on copper and pharmaceuticals hit miners and drug makers.

The FTSE 100 index edged up 7.13 points, 0.1%, to 8,861.31. The FTSE 250 was up just 5.41 points at 21,587.09, and the AIM All-Share was down 2.67 points, 0.3%, at 772.83.

The Cboe UK 100 was up 0.2% at 884.08, the Cboe UK 250 fell 0.1% at 19,088.54, and the Cboe Small Companies gave back 0.2% to 17,560.76.

In European equities on Wednesday, the CAC 40 in Paris rose 0.4%, while the DAX 40 in Frankfurt rose 0.3%.

The pound rose to USD1.3597 early Wednesday, from USD1.3574 at the time of the London equities close on Tuesday. The euro perked up to USD1.1717 from USD1.1709 while against the yen, the dollar fell slightly to JPY146.76 from JPY146.82.

President Trump said Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies, while announcing plans for a 50% duty on copper imports.

"That's a shift in tone from Trump's own comments on Monday evening, as Trump had said that the August 1 date was "not 100% firm", and investors had been hopeful that ongoing negotiations and trade deals could avoid that. So it's a clear hardening up of the rhetoric," analysts at Deutsche Bank commented.

"In addition, the president took a more hawkish tone, indicating that some countries would be seeing a 60% or 70% tariff rate and that sectoral tariffs are coming."

Trump also said Washington would soon make an announcement on pharmaceuticals, but officials would allow manufacturers time to relocate their operations into the country.

"We're going to give people about a year, a year and a half to come in, and after that, they're going to be tariffed," he said. "They're going to be tariffed at a very, very high rate, like 200%."

Apart from copper and pharmaceuticals, Trump has ordered probes into imports of lumber, semiconductors and critical minerals that could lead to further levies.

In London, copper miner Antofagasta shares fell 3.0%, while drug makers GSK lost 0.5% and AstraZeneca 0.8%. Elsewhere in Europe, Nordisk fell 1.3% in Copenhagen early on Wednesday, while Novartis was down 0.3% in Zurich.

"Copper first month futures on the NY exchange hit an all-time high in response, as prices rose 13.25% (17% intraday), which was the largest daily move since on record going back to 1988," Deutsche added.

The yield on the US 10-year Treasury was quoted at 4.40% early Wednesday, slimming from 4.42%, where it stood at the time of the London equities close on Tuesday. The yield on the US 30-year Treasury was quoted at 4.93%, easing from 4.96%.

In Asia on Wednesday, the Nikkei 225 in Tokyo ended 0.3% higher. The Shanghai Composite fell 0.1%, turning red in afternoon dealings in China, while the Hang Seng Index in Hong Kong was down 1.2% in late trade. The S&P/ASX 200 in Sydney fell 0.6%.

A barrel of Brent faded to USD69.72 early Wednesday, from USD69.87 late Tuesday afternoon. Gold fell to USD3,292.40 an ounce from USD3,297.61.

Back in London, tobacco firms Imperial Brands and BAT added 1.7% and 2.5%. Jefferies started the pair at 'buy'.

WPP slumped 14% as the advertising firm cut guidance following a tricky first half. WPP now expects a 2025 like-for-like revenue decline, excluding pass through costs, between 3% and 5%. It predicts a decline in headline operating profit margin of 50 to 175 basis points, excluding foreign exchange.

It also sees "continued macro uncertainty weighing on client spend" going forward.

Close Brothers fell 7.7% as it announced it is "proactively shaping" its premium finance business.

"Focusing on commercial lines will enable us to invest in growth and strengthen our position in the market, while streamlining operations and reducing complexity. To support this strategic repositioning, we will optimise the cost base across the whole Premium Finance business through modernisation of our technology platforms, digitising more of the onboarding journey and streamlining our operating model," Close Brothers said.

The bank, broker and asset manager expects "a steady state cost reduction" of around GBP20 million per year by 2030, with GBP15 million in total costs to deliver the savings.

"As a result of this decision, we will withdraw from certain broker relationships over the next six to 12 months. These brokers predominantly offer personal lines, without a material commercial lines focus, and represent a modest portion of our broker network," it added.

Panmure Liberum analysts commented: "It remains the case that the outcome of the Supreme Court process with respect to motor finance remains the most important, and potentially binary, outcome for the company but this is a reminder that even should the Supreme Court outcome be 'positive' there are still issues to address."

Hunting jumped 12% after the supplier to the oil and gas industry reported "good" growth in the first half, backed guidance and announce a buyback.

It expects to report earnings before interest, tax, depreciation, and amortisation between USD68 million to USD70 million for the first half of 2025, growth of around 16% on-year.

For the full-year, it still expects an Ebitda between USD135 million and USD145 million.

Hunting targets a dividend hike of 10% to 13% and announced a share buyback programme of up to USD40 million to kick off after its half-year results are published on August 28.

Elsewhere in London, Jet2 fell 6.4%. The low-cost airline released stronger annual results, though it decided against offering guidance for the new year amid a "late booking profile which limits forward visibility".

"Bookings for summer 2025 continue to be made closer to departure, as previously announced, but it is clear that customers' eagerness to get away from it all and enjoy a relaxing overseas holiday in the sun remains strong, provided pricing is attractive," Jet2 said.

"With the peak summer months of July, August and September not yet complete, plus the majority of Winter 2025/2026 seat capacity of 5.8 million still to sell, it remains premature, as is always the case at this time of year, to provide definitive guidance as to group profitability for the financial year ending 31 March 2026."

[master rsi] 09/7/2025 08:57:48

China producer prices slump in June; CPI rises

(Sharecast News) - China's consumer prices rose for the first time in five months in June while producer prices plunged 3.6% year on year, the largest fall in nearly two years, according to official data published on Wednesday.

The consumer price index (CPI) rose 0.1% compared with June 2024, the National Bureau of Statistics said. Economists had forecast a flat reading compared to the same period a year earlier. On a monthly basis, the CPI fell 0.1%.

Excluding volatile food and energy prices, core CPI rose 0.7% year-on-year, the highest reading in 14 months.

Producer prices fell more than the 3.2% forecast by analysts as companies engaged in a domestic price war to clear inventory against the threat of massive US tariffs on Chinese exports.

[master rsi] 09/7/2025 08:18:16

FTSE

Up by 6 points

London stocks edged higher in early trade on Wednesday even as Donald Trump ramped up his trade war rhetoric, threatening to impose 50% tariffs on copper and 200% tariffs on pharmaceuticals.

[master rsi] 08/7/2025 23:36:24

BREAKOUT

HSS 9.05p +0.60p

Large volume for the last couple of days culminating in a higher BREAKOUT.

[master rsi] 08/7/2025 23:17:27

US close: Stocks flat as Trump signals no more tariff extensions

(Sharecast News) - US stocks finished a choppy session more or less where they started on Tuesday on the back of yet more trade-related nervousness, after Donald Trump said that his new 1 August tariff deadline would not be extended.

The Dow fell 0.14%, while the S&P 500 and Nasdaq edged just 0.03% higher, with markets struggling for direction for most of the day.

Over the past few days, president Trump has re-escalated his tariff war against America's trading partners. While the president pushed back the deadline for his blanket 'reciprocal' tariffs from 9 July to 1 August - to be imposed on countries that do not have specific trade deals with the US - he said no new deals will be negotiated after this deadline, implying that no more extensions will be granted.

The Trump administration said it has already sent letters to 14 nations, including Japan and South Korea, with tariffs ranging from 25% to 40% to kick in at the start of next month.

Trump also announced that tariffs on copper imports will also be imposed, in addition to other sector-focused tariffs already in place like those on autos, steel and aluminium.

[master rsi] 08/7/2025 22:38:15

MARKET REPORT
LONDON MARKET CLOSE: Stocks green as latest tariff rates received

(Alliance News) - Stock prices in London closed higher on Tuesday, after US President Donald Trump's new August 1 deadline appeared to take some pressure off investors and US consumer expectations were reported to have improved in some areas.

On the other hand, Trump on Monday sent correspondence detailing new tariff rates to over a dozen US trading partners. These included a 30% levy on goods imported from South Africa, which is reportedly seeking to use the coming weeks to lobby Washington for changes.

AJ Bell's Dan Coatsworth commented: "The TACO (Trump Always Chickens Out) trade is back on the table as the Trump administration's latest announcements on tariffs offered some relief to financial markets...On the flipside, this only extends the uncertainty with markets likely to spend the next three weeks trying to guess the ultimate outcome. If tariffs are a negotiating strategy it appears they may be a rolling one, with constant bartering and trade policy being used in the service of US foreign policy goals."

Pamela Coke-Hamilton, director of the United Nations-backed International Trade Centre, struck a similar tone as she warned that the delay "actually extends the period of uncertainty".

That in turn risks "undermining long-term investment and business contracts and creating further uncertainty and instability", she told reporters in Geneva.

Predictability, Coke-Hamilton said, is the "one thing businesses need more than anything else".

The FTSE 100 index closed up 47.65 points, 0.5%, at 8,854.18. The FTSE 250 ended up 43.20 points, 0.2%, at 21,581.68, and the AIM All-Share closed up 3.54 points, 0.5%, at 775.50.

The Cboe UK 100 was up 0.5% at 881.99, the Cboe UK 250 was up 0.3% at 19,097.33, and the Cboe Small Companies was up 0.5% at 17,587.92.

On the FTSE 100, Glencore gained 2.7%.

JPMorgan reinitiated the Baar, Switzerland-based commodity trading and mining company at 'overweight', with a price target of 360 pence.

The broker said group production will "significantly step-up" in the second half, led by copper. It expects this to translate into 150% higher group earnings in 2026, with earnings 250% higher in 2027 compared to 2025.

Unite Group was down 0.5%.

The Bristol, England-based student accommodation provider reiterated 2025 guidance for adjusted EPRA earnings per share, which it expects to increase on-year to between 47.5 pence and 48.25p.

Unite hailed "continuing momentum", saying it expects to benefit from a pick-up in UK university admission numbers, amid a jump in student visa applications in the first five months of the year.

In local news, UK state finances are on an "unsustainable" path due to a raft of public spending promises the government "cannot afford" in the longer term, the chair of the UK's official forecaster has warned.

FTSE 250 constituent Victrex ended down 8.4%.

The Lancashire, England-based polymer producer warned of weaker-than-expected revenue in its Medical division. Sales volume was 1,057 tonnes in the third quarter, up 8.0% on-year, but revenue fell 3.4% to GBP71.5 million. That left nine-month volume up 13% but nine-month revenue up only 1.9%.

Looking ahead, Victrex said currency movements remain a headwind. It estimates the impact on pretax profit will be near GBP9 million, the top of its previously guided range.

On AIM, Celebrus Technologies surged 22%.

The Sunbury-on-Thames, England-based data management platform said pretax profit increased 5.4% on-year to USD7.3 million in financial 2025, while revenue was down 5.4% to USD38.7 million but annual recurring revenue was up 14% to USD18.8 million.

Celebrus declared a final dividend of 2.32p per share, up 4.0%. The total dividend for the year was 3.27p per share, 3.8% higher.

The Office for Budget Responsibility had, also on Tuesday, said that public finances are in a "relatively vulnerable position" amid pressure from recent U-turns on planned spending cuts.

Richard Hughes, chair of the OBR, made comments at a briefing in Liverpool indicating that governments will need to adjust spending plans in the longer term to avoid national debt ballooning.

Hughes furthermore said that the projected rise in state pension spending linked to the triple lock commitment for annual increases was contributing to growth in national debt.

He said the triple lock "is one of a series of age-related pressures that pushes public spending upwards steadily over a number of years and, as you saw in our previous report, when you project trends in both pension spending and health and other age-related spending forward, the UK public finances are in an unsustainable position in the long-run.

"The UK cannot afford the array of promises that are displayed to the public if you just leave those unchanged, based on a reasonable assumption about growth rates in the economy and in tax revenues."

In European equities on Tuesday, the CAC 40 in Paris closed up 0.6%, while the DAX 40 in Frankfurt ended up 0.5%.

The pound was quoted lower at USD1.3574 at the time of the London equities close on Tuesday, compared to USD1.3641 on Monday. The euro stood at USD1.1709, lower against USD1.1735. Against the yen, the dollar was trading higher at JPY146.82 compared to JPY145.86.

Stocks in New York were lower. The Dow Jones Industrial Average was down 0.2%, the S&P 500 index down 2.10 points, and the Nasdaq Composite down 4.39 points.

The yield on the US 10-year Treasury was quoted at 4.42%, widening from 4.39%. The yield on the US 30-year Treasury was quoted at 4.96%, widening from 4.92%.

US households lowered their short-term inflation expectations in June, while outlooks for income growth and credit access improved, according to the latest survey of consumer expectations from the Federal Reserve Bank of New York published on Tuesday.

The median one-year-ahead inflation expectation fell by 0.2 percentage point to 3.0%, though expectations for the three- and five-year horizons held steady at 3.0% and 2.6%, respectively. Inflation uncertainty also decreased at the short- and medium-term horizons.

Households' outlook on their personal finances brightened. The median expected household income growth ticked up to 2.9%, matching the 12-month average, while expected spending growth declined to 4.8%. Fewer respondents reported difficulties accessing credit, and fewer anticipated challenges ahead.

Brent oil was quoted higher at USD69.87 a barrel at the time of the London equities close on Tuesday, from USD68.84 late on Monday.

Gold was quoted lower at USD3,297.61 an ounce against USD3,320.60.

The biggest risers on the FTSE 100 were BP, up 11.95p at 383.70p, Glencore, up 8.01p at 305.91p, Prudential, up 23.60p at 924.20p, Standard Chartered, up 30.50p at 1,250.00p, and Schroders, up 9.20p at 377.40p.

The biggest fallers on the FTSE 100 were Endeavour Mining, down 76.00p at 2,214.00p, Rentokil, down 9.20p at 343.00p, Coca-Cola HBC, down 94.00p at 3,912.00p, Coca-Cola Europacific, down 110.00p at 7,010.00p, and ConvaTec, down 3.80p at 259.60p.

On Wednesday's economic calendar, China has consumer and producer inflation. Australia has consumer and business confidence, plus building permits.

On Wednesday's UK corporate calendar, Airtel Africa and LondonMetric hold annual general meetings, and Zigup releases full-year results.

[master rsi] 08/7/2025 22:22:04

BOOM 322.50p - 5p / Q2 2025 Trading Update plus broker note
400% adjusted EBITDA increase and 35% gross profit growth

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to provide a trading update for the quarter ending 30 June 2025.

Financial and operational KPIs

· Q2 adjusted EBITDA(1) profit of US$1.2 million, US$1.0 million higher than Q2 2024 (US$0.2 million), highlighting the continued strong performance of the business model

· Q2 gross profit of US$4.0 million, up 35% on Q2 2024 (US$3.0 million) representing a gross margin of 23% (Q2 2024: 18%)

· Q2 revenue of US$17.8 million, up 5% on Q2 2024 (US$17.0 million)

· Continued strong growth of Showcase - our higher gross margin, tech-based global advertising marketplace - with Q2 revenue up 16% year-on-year

· Expansion of the Audioboom Creator Network, with average monthly distribution in Q2 of 100 million downloads and views - up 5% year-on-year

· Group cash at 30 June 2025 of US$2.5 million, with a further US$2.0 million collected in the first four days of July and a further US$3.4 million available via an overdraft facility

· The Company has in excess of US$70 million revenue for 2025 booked - more than US$5 million added since the April 2025 Trading Update and US$5 million more than at the same point last year

Commercial highlights

· Launched a new partnership with Gumball FM to bring Adaptive Ads - a scalable AI driven advertising product - to Showcase, expanding monetisation options for creators utilising our global advertising marketplace

· Expansion of the Audioboom Creator Network through new tier one content partnerships, including Something Was Wrong, Undisclosed, Al Franken, What They Don't Tell You and On the Case with Paula Zahn. These shows are expected to contribute more than four million downloads and YouTube views per month to the Audioboom Creator Network

1 Earnings before interest, tax, depreciation, amortisation, share based payments, non-cash foreign exchange movements, material one-off items and onerous contract provisions and losses incurred

Stuart Last, CEO of Audioboom, commented:

"A very positive second quarter reflects the continued improvements we have made across the business. Revenue is up 5%, gross profit is up 35%, and adjusted EBITDA is up by approximately 400% - a fantastic achievement by the Audioboom team.

Topline growth is primarily driven by the expansion of the Audioboom Creator Network, and higher gross profit - a key metric as we focus on higher quality, higher margin income - grew significantly as Showcase, with its higher gross margin, continued to perform strongly. Our stable opex base - a result of our platform's scalability - helped deliver significantly higher adjusted EBITDA than for the same period last year.

The second half of 2025 is primed for further growth as new podcasts join Audioboom, knowing we are leaders in delivering maximum value for their work. The advertising market remains stable despite global economic uncertainties, and with our highest demand season on the horizon I am excited about delivering Audioboom's strongest ever year."
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Cavendish update

Q2 update shows gross profit and adj EBITDA expansion After robust FY24 results, Audioboom’s Q2 update reflects a strong performance in the highmargin Showcase platform, expansion of the Audioboom Creator Network, and a confident outlook that leads us to reiterate our FY25 and FY26 forecasts at this point. The Q2 25 update highlights that group revenue rose +5% YoY to $17.8m and gross profit rose +$1.0m YoY to $4.0m (23% gross margin vs 18% in Q2 24), driven by the higher-margin Showcase platform achieving +16% YoY revenue growth, alongside expansion of the Audioboom Creator Network with 5% YoY growth in average monthly downloads.

Combined with a stable opex base, delivery of margin-accretive revenue translated to a +$1.0m YoY rise in adj EBITDA to $1.2m, from $0.2m in Q2 24 (Q1 25: $0.7m). Q2 performance and advertising bookings stand at $70m, +8% ahead of the same point in FY24, with +$5m added since April’s trading update, providing a strong foundation to at least achieve FY25E group revenue growth of +9% to $80m. Unchanged FY25E adj EBITDA expectations of $4.5m could see upside from stronger revenue growth, gross margin expansion, and/or lower opex growth, which would gear strongly to EFCF and cash. Unchanged FY26E forecasts then show new records for the platform’s financials, that include revenue growth of +9% to $87.3m, which could see substantial upside from new capabilities and developments in Showcase, adj EBITDA growth of +41% to $6.3m, EFCF of +$4.4m and net cash of $9.1m. The outlook remains positive, with the advertising market reported as remaining stable despite global macroeconomic uncertainties.

Combined with the highest demand season still ahead, we reiterate our target price of 1,300p based on 3.5x FY26E EV/Sales. We look forward to Audioboom capitalising on its robust momentum at further trading updates, further renewals and wins of key podcasts on attractive terms, and potential external interest in the platform, with further detail expected at interim results on 17 July 2025

[master rsi] 08/7/2025 22:05:30

DOW

164 points lower at the end of the day

[master rsi] 08/7/2025 16:40:05

KEEp an EYE

VCP 83.70p ( 82.80 v 84.70p )

The New facility on past 30 june has given the share price a lift with large volume and rising yesterday and again today. "Notably, since January, the Group's UK businesses have had successive monthly improvements in year-on-year LFL revenue performance and are benefitting from increasing profitability."
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INDICATORS

[master rsi] 08/7/2025 16:23:53

How the UPS are performing during last month