Upstream Share Discussion Threads

[master rsi] 24/6/2025 00:01:25

GGP 350p +38p UT ( spread clo at 325 v 330p )
There was a 1 x 20 consolidation today ) 15.60p x 20 = 312p

It looks good, in the late 16:40 pm UT @ 350p, (well over the top), after a very low one last Friday 15.60p.

Late reporting of rollovers 20K



ASX quote for tomorrow....

[master rsi] 23/6/2025 23:45:43

US close: Stocks jump despite Iran's retaliatory strike in Qatar

(Sharecast News) - US stocks rose strongly on Monday while oil prices plunged as investors shrugged off Iran's retaliatory airstrike against a US base.

Also helping sentiment was another Federal Reserve policymaker who showed their support for an interest-rate cut at the central bank's next meeting.

The Dow Jones Industrial Average rose 0.89% to 42,581.78, the S&P 500 rose 0.96% to 6,025.17 and the Nasdaq Composite rose 0.94% to 19,630.98.

European shares finished down 0.28%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.70% overnight. MSCI's gauge of stocks across the globe rose 0.49%.

Tehran launched missiles at an US-run Al Udeid base in Qatar, all of which were intercepted, in response to a surprise US attack against three Iranian nuclear sites in Fordo, Isfahan and Natanz on Sunday.

Brent Crude futures closed down 7.2% at $71.48 a barrel, while U.S. West Texas Intermediate crude eased 7.2% to $68.51. The Brent and WTI crude benchmarks touched five-month highs of $81.40 and $78.40, respectively.

[master rsi] 23/6/2025 22:11:31

MARKET REPORT
LONDON MARKET CLOSE: Stocks falter but avoid sell-off after US strike

(Alliance News) - London's FTSE closed down on Monday as traders awaited Tehran's response to US strikes on Iranian nuclear facilities over the weekend.

The FTSE 100 index closed down 16.61 points, 0.2%, at 8,758.04. The FTSE 250 ended 27.55 points lower, 0.1%, at 21,120.95, but the AIM All-Share rose just 0.15 of a point at 759.29.

The Cboe UK 100 closed down 0.1% at 872.91, the Cboe UK 250 ended 0.2% lower at 18,375.56, and the Cboe Small Companies fell 0.1% at 17,227.24.

In European equities on Monday, the CAC 40 in Paris closed down 0.7%, and the DAX 40 in Frankfurt ended 0.3% lower.

"The markets are not yet reacting with any degree of panic to the US airstrike on Iran's nuclear facilities as they await to see how Tehran responds," said Russ Mould at AJ Bell.

Israel said it struck "regime targets" in the city, escalating tensions a day after US air strikes on Iran's nuclear facilities. Iran, in turn, fired missile barrages at Israel and vowed retaliation against the US, as both sides intensified attacks on the war's 11th day.

But fears of a further sharp spike in the oil price proved wide of the market, although the outlook remains uncertain.

Stephen Innes at SPI Asset Management said: "Everything hinges on Iran's response - and whether it's a symbolic jab or a haymaker that knocks the Strait of Hormuz offline. That narrow bottleneck, through which 20% of global oil flows, has morphed from geographic trivia to a live wire pulsing beneath the entire financial complex."

"If Hormuz does shut - even for a week - the USD100 per barrel oil scenarios that everyone’s scribbled in the margins go front and centre," he added.

On Monday, Brent oil traded lower at USD76.39 a barrel, down from USD76.49 on Friday.

Safe haven gold was quoted higher at USD3,387.65 an ounce against USD3,366.36. Gold miners Endeavour Mining and Fresnillo climbed 2.9% and 2.6% respectively.

Goldman Sachs said: "Aside from energy supply disruptions and price increases, spillovers from the Iran-Israel war should be limited, since most countries have very limited trade exposure (outside of energy products) to Iran, Israel, or the Middle East more broadly."

On Wall Street, markets were higher at the time of the London close on Monday as another Federal Reserve official put the case for an interest rate cut at the July meeting.

The Dow Jones Industrial Average was up 0.2%, the S&P 500 was 0.4% higher, and the Nasdaq Composite gained 0.5%.

A key US central bank official called for an interest rate cut as early as July if inflation effects from President Donald Trump's sweeping tariffs remain limited.

The comments by Federal Reserve vice chair for supervision Michelle Bowman came days after Fed governor Christopher Waller said the bank could lower rates as soon as next month – amid differences among officials on how they should respond to levies.

"Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labour market," Bowman said in prepared remarks for a conference in Prague.

In its policy meeting last week, the Fed held its benchmark lending rate at a range between 4.25% and 4.50%, keeping it unchanged so far this year.

The comments saw bond yields drop. The yield on the US 10-year Treasury was quoted at 4.31%, narrowed from 4.40%. The yield on the US 30-year Treasury was quoted at 4.84%, slimmed from 4.91%.

The pound was quoted up at USD1.3501 at the time of the London equities close on Monday, compared to USD1.3467 on Friday. The euro stood higher at USD1.1545 against USD1.1521. Against the yen, the dollar was trading at JPY146.37, up compared to JPY145.89.

In the UK, economic activity picked up in June.

The flash UK composite purchasing managers index rose to a three-month high of 50.7 points in June, from May's final tally of 50.3, S&P Global said.

The services flash PMI rose to a three-month high of 51.3 in June, from 50.9 in May. The manufacturing PMI spiked to a five-month high of 47.7, though staying in negative territory, from 46.4 in May.

Elliott Jordan-Doak at Pantheon Macroeconomics said the PMI suggests that business confidence is staging a "fragile recovery after being battered by tariff threats and tax increases. That said, rising geopolitical stress is likely to be added to the growing list of worries facing businesses."

Elsewhere, Spectris surged 16%. It agreed to a buyout from private equity firm Advent International, although a rival bid from Kohlberg Kravis Roberts.

Advent will pay GBP37.63 in cash per Spectris share for the provider of high-tech instruments, test equipment and software, an offer consideration that includes a 28 pence dividend. The bid values the entire issued and to be issued share capital of Spectris at around GBP3.8 billion. It implies an enterprise value of GBP4.4 billion.

However, a rival bidder could yet emerge after KKR, the New York-based private equity firm, said it continues to engage "constructively" with Spectris, although it added there "can be no certainty" that any firm offer will be made.

KKR, meanwhile, was thwarted in its consortium's effort to acquire Assura. Assura recommended the new cash-share offer from peer Primary Health Properties, describing it as "fair and reasonable".

Under the terms of the increased Primary Health Properties offer, Assura shareholders would receive 0.3865 new Primary Health Properties shares and 12.5 pence in cash.

In addition, Assura shareholders would be entitled to receive a special dividend of 0.84p per Assura share.

Based on the Primary Health Properties closing share price of 103.5p on Friday last week, the fresh Primary Health Properties offer implies a total value to be received by Assura shareholders of 53.3p for each Assura share.

This represents a premium of 5.8% to the value of the best and final cash offer of 50.42p per Assura share, made by Sana Bidco, a consortium made up of KKR and property investor Stonepeak Partners.

Assura shares fell 0.2%. Primary Health fell 4.2%.

One Health Group shot up 11%. It reported strong growth in annual sales and profit as it delivered more surgical procedures to NHS patients.

Pretax profit rose 36% to GBP1.5 million in the financial year that ended March 31 from GBP1.1 million the year prior, as revenue climbed 23% to GBP28.4 million from GBP23.0 million.

Chief Executive Adam Binns said: "We have delivered a strong performance in all our three drivers of growth; more patients, more operating theatre capacity and a record number of new surgeons applying to provide their services to the group."

The biggest risers on the FTSE 100 were Endeavour Mining, up 70.00 pence at 2,356.00p, National Grid, up 28.00p at 1,077.00p, Fresnillo, up 36.00p, at 1,443.00p, ConvaTec, up 6.80p at 289.80p, and Bunzl, up 48.00p at 2,320.00p.

The biggest fallers on the FTSE 100 were NatWest, down 12.30p at 494.30p, Mondi, down 29.00p at 1,170.00p, easyJet, down 12.40p at 506.60p, Marks & Spencer, down 7.90p at 354.00p, and AB Foods, down 44.00p at 2,033p.

Tuesday's global economic calendar has US consumer confidence data and house price figures.

Tuesday's local corporate calendar has half-year results from cruise operator, Carnival, and a trading statement from distribution and outsourcing company, Bunzl.

[master rsi] 23/6/2025 21:55:10

DOW

Finished 374 points UP

[master rsi] 23/6/2025 17:14:18

GGP 332.50p +20p ( 330 v 335p )

Australian quote for tomorrow ....

[master rsi] 23/6/2025 16:25:36

How the UPS are performing during last month

[master rsi] 23/6/2025 16:14:21

How the UPS are performing today

[master rsi] 23/6/2025 16:01:17

US business activity growth cools as tariff-related inflation kicks in

(Sharecast News) - Private sector activity in the United States increased at a slightly slower rate in June as goods prices jumped, but growth still came in ahead of analysts' expectations.

The preliminary reading of the S&P Global composite purchasing managers' index (PMI) slipped to 52.8 this month, from 53.0 in May.

While the rate of expansion remains well below that seen late last year - the composite PMI ranged between 54 and 55 for the second half of 2024 - this was still the 29th straight month of readings above 50 , which separate growth from contraction.

The service-sector PMI eased to 53.1 from 53.7, while the manufacturing PMI held steady at 52, with both readings beating the consensus forecasts of 52.9 and 51, respectively.

According to S&P Global, falling exports of goods and services acted as a drag on growth in June, though this was partly offset by stock building by US companies due to tariff concerns.

Additional trade tariffs, which were implemented in April, were also widely blamed by purchasing managers on higher prices across both the manufacturing and services sectors. In particular, manufacturers' input prices and selling prices both posted their highest growth rates since July 2022.

Chris Williamson, chief business economist at S&P Global Market Intelligence, said that the outlook "remains uncertain while inflationary pressures have risen sharply in the past two months".

He said that inflationary pressures and slower growth mean that the Fed is like to "remain on hold for some time to both gauge the economy's resilience and how long this current bout of inflation lasts for."

[master rsi] 23/6/2025 14:49:17

DOW

49 points higher

[master rsi] 23/6/2025 13:04:49

GOLD price $3,378

Is recovering and back to late last night prices, after the move back to $3,352 at the start of trading today

[master rsi] 23/6/2025 12:51:27

MARKET REPORT
LONDON MARKET MIDDAY: Losses contained despite geopolitical worry

(Alliance News) - Stock prices in Europe were lower, with the FTSE 100 in London only marginally in the red, as US involvement in the Israel-Iran conflict kept markets on edge but failed to spark a sell-off.

The FTSE 100 index traded down just 2.15 points at 8,772.50. The FTSE 250 edged down 20.70 points, 0.1%, at 21,127.80, and the AIM All-Share was down only 0.14 of a point at 759.00.

The Cboe UK 100 was down slightly at 873.77, the Cboe UK 250 was 0.2% lower at 18,665.46, and the Cboe Small Companies was down 0.1% at 17,253.85.

In Frankfurt, the DAX 40 was down 0.3%. The CAC 40 in Paris was 0.4% lower.

Israel said it struck "regime targets" in the city, escalating tensions a day after US air strikes on Iran's nuclear facilities. Iran, in turn, fired missile barrages at Israel and vowed retaliation against the US, as both sides intensified attacks on the war's 11th day.

A barrel of Brent rose to USD77.73 early Monday afternoon, from USD76.49 at the time of the London equities close on Friday. Gold was largely flat at USD3,367.01 an ounce from USD3,366.36, but had traded as high as USD3,373.54 earlier on Monday. Brent also faded from intraday highs, having earlier bought USD79.31.

Analysts at Barclays commented: "Oil has spiked but the worst-case scenario – involving a blockage of the Strait of Hormuz – is a long way from being priced. That could push Brent past USD100/barrel."

Sterling fell to USD1.3379 midday Monday, from USD1.3467 at the time of the London equities close on Friday. The euro declined to USD1.1464 from USD1.1521. Against the yen, the dollar surged to JPY147.94 from JPY145.89.

Convera analyst George Vessey commented: "In the lead-up to the strikes, markets were pricing in diplomatic progress: the euro strengthened, the dollar softened, safe havens were muted, and oil dropped nearly 3% on Friday — signalling a partial return to the pre-conflict playbook. But the US intervention has now reversed that momentum. While the broader bias still leans toward structural dollar weakness, escalating Middle East tensions are injecting support for the greenback via the commodity channel.

"That channel will remain central in the days ahead, as Iran — according to state-run TV — has vowed to retaliate by closing the Strait of Hormuz, a critical artery through which about one-fifth of global oil flows."

Away from geopolitical tensions, Federal Reserve Chair Jerome Powell will be in focus this week, as he gives his semi-annual testimony to Congress.

"Powell is expected to underscore the Fed's independence and reiterate that any rate decision will remain firmly data-dependent. While some lawmakers, particularly from the Republican side aligned with President Trump, may push for earlier cuts, Powell is likely to hold the line, warning against premature easing amid ongoing inflation uncertainty," Convera's Vessey added.

The yield of the US 10-year Treasury was at 4.39%, narrowing from 4.40%, where it stood at the time of the London equities close on Friday. The yield on the 30-year was unchanged at 4.91%.

In London, BP was among the better performers, tracking Brent higher. The oil major rose 1.3%. Shell rose 1.0%.

Elsewhere, Spectris surged 15%. It agreed to a buyout from private equity firm Advent International, although a rival bid from Kohlberg Kravis Roberts & Co.

Advent will pay GBP37.63 in cash per Spectris share for the provider of high-tech instruments, test equipment and software, an offer consideration that includes a 28 pence dividend. The bid values the entire issued and to be issued share capital of Spectris at around GBP3.8 billion. It implies an enterprise value of GBP4.4 billion.

However, a rival bidder could yet emerge after KKR, the New York-based private equity firm, said it continues to engage "constructively" with Spectris, although it added there "can be no certainty" that any firm offer will be made.

KKR, meanwhile, was thwarted in its consortium's effort to acquire Assura. Assura recommended the new cash-share offer from peer Primary Health Properties, describing it as "fair and reasonable".

Under the terms of the increased Primary Health Properties offer, Assura shareholders would receive 0.3865 new Primary Health Properties shares and 12.5 pence in cash.

In addition, Assura shareholders would be entitled to receive a special dividend of 0.84p per Assura share.

Based on the Primary Health Properties closing share price of 103.5p on Friday last week, the fresh Primary Health Properties offer implies a total value to be received by Assura shareholders of 53.3p for each Assura share.

This represents a premium of 5.8% to the value of the best and final cash offer of 50.42p per Assura share, made by Sana Bidco, a consortium made up of KKR and property investor Stonepeak Partners.

Assura shares rose 0.1%. Primary Health fell 4.0%.

One Health Group shot up 7.5%. It reported strong growth in annual sales and profit as it delivered more surgical procedures to NHS patients.

Pretax profit rose 36% to GBP1.5 million in the financial year that ended March 31 from GBP1.1 million the year prior, as revenue climbed 23% to GBP28.4 million from GBP23.0 million.

Chief Executive Adam Binns said: "We have delivered a strong performance in all our three drivers of growth; more patients, more operating theatre capacity and a record number of new surgeons applying to provide their services to the group."

Still to come on Monday is a US flash purchasing managers' index reading at 1445 BST.

[master rsi] 23/6/2025 12:20:11

How the UPS are performing during last month

[master rsi] 23/6/2025 12:08:56

How the UPS are performing today

[pangrati] 23/6/2025 11:25:23

SP Angel . Morning View . Gold holds steady as traders consider potential for Middle East escalation


Kavango Resources* (KAV LN) 0.90p, Mkt Cap £27m – Appointment of former Barrick Mining Corp, mine manager as General Manager for mining at Hillside, near Bulawayo, Zimbabwe

Kavango have appointed Everjoy Ngomamiti from Barrick Mining Corp., Mr Ngomamiti was formerly mining manager at Barrick’s flagship Bulyanhulu Gold Mine in Tanzania.and has 19 years' of international mining experience across Africa and Australia.

Zimbabwe has always had a high standard of education and their nationals are often valued for their pragmatic and practical approach, particularly in the mining industry.

While it is unfortunate that so many Zimbabweans were forced to leave Zimbabwe for work it is good to see their return bringing great expertise back to the nation.

Conclusion: Kavango has a great geological team but has lacked the mining expertise that it needs to develop modern-standard mines.

The hillside prospects offer potential for a number of new mining opportunities. Further drilling and evaluation of their resources will be needed for mine planning.

*Two share price Angel Analysts visited Kavango’s Hillside mines and licenses in Zimbabwe earlier this year. An share price Angel analyst holds shares in Kavango

[master rsi] 23/6/2025 09:50:24

British Business Bank invests in UK in GBP6.6 billion commitment

(Alliance News) - The British Business Bank is to hand major investment to UK entrepreneurs as part of a GBP6.6 billion commitment to support innovation and industry.

The UK government's development bank has revealed the investment plans as part of Keir Starmer's 10-year industrial strategy announcement.

On Monday, the UK prime minister said he will cut electricity costs for thousands of businesses as part of the strategy, in a bid to help accelerate economic growth.

The British Business Bank has seen its total financial capacity grow to GBP25.6 billion since the most recent spending review.

It has said its latest GBP6.6 billion investment commitment will particularly help the rapid growth of small business across the UK.

The government said GBP4 billion will be invested through the new Industrial Strategy Growth Capital initiative, focusing on eight target sectors including advanced manufacturing, clean energy, digital, and life sciences.

A further GBP2.6 billion will be aimed at supporting entrepreneurs across the UK, providing funds to help address regional funding gaps.

Louis Taylor, chief executive of the British Business Bank, said: "We welcome today's announcement by the secretary of state to deliver British Business Bank industrial strategy growth capital, as well as the reforms to the Bank's governance and financial framework.

"Using our market expertise and reach, we have a critical role to play in supporting smaller businesses in the eight growth-driving sectors to grow and stay in the UK.

"To deliver the government's growth mission it is also critical that our most promising entrepreneurs can access the finance they need to grow their businesses, no matter what their background or where they are located across the nations and regions of the UK."

[master rsi] 23/6/2025 09:14:39

GGP 310p ( 300 v 320p ) close as UT at 15.60p last Friday

Hardly able to trade on the new format on more of the Platform of 1 for every 20 old ones

[master rsi] 23/6/2025 09:02:26

MARKET REPORT
LONDON MARKET OPEN: "Tension not trauma" for stocks after US strikes

(Alliance News) - Stock prices in Europe opened lower at the start of the week, but US strikes on Iran failed to prompt a deeper sell-off in equities.

The FTSE 100 index opened down 14.11 points, 0.2%, at 8,760.54. The FTSE 250 edged down just 4.46 points at 21,144.04, and the AIM All-Share was down 0.65 points, 0.1%, at 758.49.

The Cboe UK 100 was down 0.2% at 872.51, the Cboe UK 250 0.1% lower at 18,684.65, and the Cboe Small Companies was down 0.1% at 17,234.61.

In Frankfurt, the DAX 40 was down 0.2%. The CAC 40 in Paris was 0.3% lower.

"There is tension but not trauma as investors monitor developments in the Middle East," interactive investor analyst Richard Hunter commented.

"The next turn of events will inevitably dictate investor sentiment, with traders currently braced for retaliatory Iranian action, as well as keeping a close eye on the Strait of Hormuz, where a disruption of oil flows could follow."

A barrel of Brent rose to USD77.50 early Monday, from USD76.49 at the time of the London equities close on Friday. Gold faded to USD3,355.02 an ounce from USD3,366.36, but had traded as high as USD3,373.54 earlier on Monday. Brent also faded from intraday highs, having earlier bought USD79.31.

Sterling fell to USD1.3436 early Monday, from USD1.3467 at the time of the London equities close on Friday. The euro declined to USD1.1492 from USD1.1521. Against the yen, the dollar surged to JPY147.23 from JPY145.89.

ING analysts commented: "The dollar is trading higher this morning after the US strikes on Iran. But the moves still look quite small in FX, which suggests lingering reluctance to unwind strategic USD shorts, as well as market hopes for a potential de-escalation."

The yield of the US 10-year Treasury was unbudged at 4.40%, where it stood at the time of the London equities close on Friday. The yield on the 30-year widened slightly to 4.92% from 4.91%.

President Donald Trump said US air strikes had "completely and totally obliterated" Iran's main nuclear enrichment facilities, and warned of more attacks to come if Tehran does not seek peace.

In a televised address to the nation from the White House after the US joined Israel's air campaign against Tehran, Trump called the US attacks a "spectacular military success."

Iran will defend itself by all means necessary, its foreign minister said.

US Secretary of State Marco Rubio urged China to help deter Iran from shutting down the Strait of Hormuz, the crucial trade route through which one-fifth of global oil output passes.

Beijing on Monday said the international community must do more to prevent fighting between Iran and Israel from impacting the global economy, noting the "Persian Gulf and surrounding waters are important international trade routes".

"Maintaining security and stability in this region is in the common interests of the international community," foreign ministry spokesman Guo Jiakun said.

Berenberg analyst Holger Schmieding commented: "The direct US attack on Iranian nuclear facilities may exacerbate the near-term geopolitical risks of a wider conflict in the Middle East. Oil prices may stay elevated amid the grave uncertainty about how the conflict will evolve and whether oil and gas exports from the Gulf region could still be impacted to a significant extent. But a protracted disruption of such energy flows seems unlikely. We continue to base our economic and financial forecasts on the assumption that energy prices will fall back close to their pre-conflict levels by autumn, and possibly before that."

In Tokyo, the Nikkei 225 ended down 0.1%, with a weaker yen limiting its losses. In Sydney, the S&P/ASX 200 closed down 0.4%. In China, the Shanghai Composite rose 0.6%, while the Hang Seng Index also traded up 0.6%.

In London, the geopolitical tensions hit airline shares. easyJet fell 1.8%, while Wizz Air gave back 1.6%.

Oil majors BP and Shell rose 1.5% and 0.6%.

Medical products and technologies company ConvaTec advanced 1.3%. JPMorgan placed ConvaTec on 'positive catalyst watch'.

Spectris surged 15%. It agreed to a buyout from private equity firm Advent International, although a rival bid from Kohlberg Kravis Roberts & Co.

Advent will pay GBP37.63 in cash for the provider of high-tech instruments, test equipment and software, an offer consideration that includes a 28 pence dividend. The bid values the entire issued and to be issued share capital of Spectris at around GBP3.8 billion. It implies an enterprise value of GBP4.4 billion.

However, a rival bidder could yet emerge after KKR, the New York-based private equity firm, said it continues to engage "constructively" with Spectris although it added there "can be no certainty" that any firm offer will be made.

Elsewhere in London, Aferian rose 16%. The video streaming solutions company expects to report a rise in revenue and a swing to profit for the half-year ended May 31.

Revenue growth of 36% to USD16.6 million from USD12.2 million is expected, while adjusted earnings before interest, tax, depreciation and amortisation in the range of USD1.6 million to USD1.8 million is forecast. This would be a swing from the prior year's adjusted Ebitda loss of USD2.3 million.

"The improved financial performance in the first half of FY2025 follows on from the strong turnaround performance in H2 last year. We expect this level of profitability to continue into H2 FY2025 with full year revenues to be approximately 20% higher than FY2024 driven by strong growth in the Amino business. We are continuing our debt refinancing discussions and will provide an update in due course," Chief Executive Officer Mark Carlisle said.

Monday's global economic calendar has flash composite PMI readings from the eurozone at 0900 BST, the UK at 0930 and the US at 1445.

[master rsi] 23/6/2025 08:38:31

Spectris reaches agreement with Advent over recommended cash acquisition

(Sharecast News) - Instrumentation company Spectris and private equity investor Advent have reached an agreement on the terms of a recommended cash acquisition.

Advent will pay £37.63 for every Spectris share, including £37.35 in cash from Bidco and an interim dividend of 28.0p, representing an "attractive premium" of approximately 84.6p to its closing price on 6 June and valuing the business at approximately £3.8bn.

The FTSE 100-listed firm noted that the offer price represented a multiple of 18.5x adjusted FY24 adjusted underlying earnings.

Chief executive Andrew Heath said: "Since 2019, we have repositioned Spectris as a focused, high-quality, compound growth business with advantaged positions in attractive end markets.

"In light of a strong set of intentions set out today, the board have confidence that Advent is committed to supporting Spectris with investment that will drive growth and accelerate delivery of our strategic objectives."

Spectris intends to unanimously recommend that shareholders vote in favour of the acquisition.