Upstream Share Discussion Threads

[master rsi] 08/5/2024 15:15

DOW

Opening lower now only 3 points down

[master rsi] 08/5/2024 13:59

MARKET REPORT
LONDON MARKET MIDDAY: FTSE 100 hits record again ahead of BoE call

(Alliance News) - Stock prices in London were up at midday on Wednesday, with IAG and Informa leading FTSE 100 gains.

Amid a slow day for global economic data, investors await the latest Bank of England interest rate decision, which is due tomorrow at 1200 BST.

The FTSE 100 index was up 41.39 points, 0.5%, at 8,355.06, having reached another record at 8364.04 at around 1100 BST. The FTSE 250 was up 33.45 points, 0.2%, at 20,446.53, and the AIM All-Share was up 1.99 points, 0.3%, at 778.41.

The Cboe UK 100 was up 0.5% at 834.08, the Cboe UK 250 was up 0.3% at 17,719.92, and the Cboe Small Companies was up 0.2% at 15,914.92.

In European equities on Wednesday, the CAC 40 in Paris was up 0.9%, while the DAX 40 in Frankfurt was up 0.5%.

"The FTSE 100 continues to forge to new all-time highs with sterling weakness providing the index with a bit of a kicker. A fall in the domestic currency is typically helpful to the FTSE 100 because it boosts the relative value of its dominant overseas earnings," said AJ Bell analyst Russ Mould.

"Currency traders are betting against the pound ahead of the Bank of England's latest meeting tomorrow, amid a growing expectation it will cut rates earlier than counterparts at the US Federal Reserve. It's extremely unlikely there will be any action tomorrow but the market will be watching the surrounding commentary for any clues on when the Bank of England might take the plunge on rates."

Sterling was quoted at USD1.2490 before midday on Wednesday, lower than USD1.2542 at the London equities close on Tuesday.

The euro traded at USD1.0750 before midday on Wednesday, lower than USD1.0774 late Tuesday. Against the yen, the dollar was quoted at JPY155.38 versus JPY154.49.

In the FTSE 100, IAG led the pack, rising 3.3%.

Informa rose 2.7%, after it increased its share buyback programme for 2024 by 50% to GBP500 million.

In a market update, the business information publisher and events organiser said all business were delivering ahead of or in line with annual targets.

Informa expects 2024 revenue will be at the the upper end of its GBP3.45 billion to GBP3.50 billion guidance range, while adjusted operating profit is expected to be at the upper end of GBP950 million to GBP970 million guidance range.

Centrica rose 1.7% to 133.42 pence, after UBS raised its rating for the owner of British Gas to 'buy' from 'neutral', setting an increased price target of 170p from 165p.

In the FTSE 250, Wetherspoon rose 3.6%, after the pub chain said like-for-like sales rose 5.2% in the 13 weeks to April 28 from a year earlier, while year-to-date like-for-like sales rose by 8.3%.

Total sales increased by 3.3% in the quarter and by 6.5% in the year-to-date, it added.

Looking ahead, JD Wetherspoon said it expects profits in the current financial year to be "towards the top of market expectations".

Wizz Air rose 3.6% to 2,157.39p, despite JPMorgan cutting its price target for the budget airline to 2,150p per share from 2,250p. It rates the stock at 'neutral'.

OSB rose 3.2%, after the mortgage lender said financial and operational performance in the first quarter of 2024 was stable, with underlying net interest margin on track to meet full year guidance.

It reported first quarter new originations of GBP1.0 billion, down from GBP1.2 billion a year earlier, while underlying and statutory net loans and advances on March 31 rose to GBP26.0 billion from GBP25.7 billion on December 31.

OSB Chief Executive Officer Andy Golding commented: "The group is well positioned to deliver attractive and sustainable returns across the cycle, with a strong and resilient business model, robust capital and liquidity position, secured loan book and proven risk management capabilities. I look to the future with confidence."

Among London's small caps, STV rose 3.1%, after the broadcast television channel operator and content studio said BBC Daytime has commissioned new series of antiques programmes 'Antiques Road Trip', 'Celebrity Antiques Road Trip' and 'The Travelling Auctioneers' from production company STV Studios, in an order totalling 56 episodes.

STV said production has already begun on a third 20-episode series of The Travelling Auctioneers.

On AIM in London, Mobile Tornado more than doubled to 2.50p.

The critical communications services provider said it won a deal via its regional partner to supply a range of "cutting-edge" technologies for an unnamed "prominent" mobile network operator in the Middle East and Africa. No financial details were disclosed.

Key features of the solutions being provided by Mobile Tornado include voice and video calls to "anywhere in the world at the push of a button"; lone worker support including real-time location tracking, emergency SOS alerts, device inactivity monitoring and ambient listening; alongside "significantly lower" data usage than comparative solutions of around 300 megabytes per month.

Mobile Tornado Executive Chair Jeremy Fenn commented: "We identified the Middle East as a crucial region for business development, and this new contract through our local partner provides us with a platform for expansion across multiple territories...This contract, in a key target market, is a testament to the changes we made early last year and the board looks forward to increasing sales momentum as 2024 develops."

Stocks in New York were called flat. The Dow Jones Industrial Average was called marginally up, while the S&P 500 index and the Nasdaq Composite were both called marginally down.

Brent oil was trading at USD82.36 a barrel before midday on Wednesday, lower than USD83.51 late Tuesday. Gold was quoted at USD2,316.11 an ounce, lower than USD2,322.59.

[master rsi] 08/5/2024 12:53

How the UPS are performing during last month

[master rsi] 08/5/2024 12:06

How the UPS are performing today

[master rsi] 08/5/2024 10:40

boohoo shares slide further as annual revenue falls in UK and US
(Alliance News) - boohoo Group PLC on Wednesday reported a wider loss in its recent financial year, despite a focus on improving profitability that reduced revenue.

boohoo shares were down 3.8% to 33.88 pence early Wednesday in London. The stock is down 21% over the past 12 months and by nearly 90% over the past three years.

The Manchester, England-based fast fashion retailer reported a pretax loss of GBP159.9 million in the financial year that ended February 29, widened from GBP90.7 million the year before, as revenue fell by 17% to GBP1.46 billion from GBP1.77 billion.

Gross merchandise value fell by a less-steep 13% to GBP1.81 billion from GBP2.09 billion, which boohoo attributed to a "difficult macro-economic environment". Revenue was further hurt the growth of boohoo's marketplace, which has a commission-only revenue model.

boohoo said revenue also was hurt by its focus on profitability. Adjusted earnings before interest, tax, depreciation and amortisation was GBP58.6 million in financial 2024, down 7.4% from GBP63.3 million in financial 2023. This gave an adjusted Ebitda margin of 4.0%, improved by 40 basis points.

Revenue declines were across all of boohoo's sales regions. It fell by 16% in the UK, boohoo's largest market by far. It was down 18% in the US, 20% in the Rest of Europe, and 30% in the Rest of World.

boohoo said its annual results were in line with market expectations. With its investment cycle complete, it is now positioned for growth, it said. In the recent year, boohoo made GBP64.8 million in capital expenditure to automate its facility in Sheffield, England and on a US distribution centre.

[master rsi] 08/5/2024 09:59

German industrial production falls less than expected

(Sharecast News) - Industrial output in Germany fell in March, according to data released on Wednesday by the Federal Statistical Office, Destatis, though it wasn't as big a drop as expected after figures for the previous month were revised lower.

Industrial production fell by 0.4% over the month, following a revised 1.7% increase in February, which was changed from the initial estimate of +2.1%.

Nevertheless, economists were expecting a drop of 0.6% in March.

However, the three-month moving average - which smoothes out monthly volatility - was 1% higher in the January to March period than the previous three months.

Production in the energy sectors fell by 4.2% in March, declined 0.4% in industry, and dropped 1.4% in consumer goods and 0.6% in intermediate goods. Construction production grew by 1.0%.

[master rsi] 08/5/2024 09:33

BREAKOUT

KEFI 0.64p ( 0.63 v 0.65p )

Since yesterday good news has been rising like no tomorrow and has moved up from the last Intraday high. Was UPS last month.
----------------- Intraday ------------------------------------------ 2 months ------------------------------- 1 year -------------------
INDICATORS

[master rsi] 08/5/2024 09:16

MARKET REPORT
LONDON MARKET OPEN: Informa raises buybacks; OSB and Wetherspoon rise

(Alliance News) - Stock prices in London opened up on Wednesday, shaking off New York equities treading water and Asian stocks trending lower overnight amid a lack of economic data.

The FTSE 100 index opened up 34.20 points, 0.4%, at 8,347.87. The FTSE 250 was up 30.83 points, 0.2%, at 20,443.91, and the AIM All-Share was up 1.94 points, 0.3%, at 778.36.

The Cboe UK 100 was up 0.4% at 833.39, the Cboe UK 250 was up 0.3% at 17,713.33, and the Cboe Small Companies was up 0.1% at 15,888.94.

"This follows a broadly flat session in the United States, as markets clung onto gains made in the latest winning streak. That's after a drag from the 9.5% drop in the value of Disney shares, the worst performance for over a year," said Hargreaves Lansdown analyst Derren Nathan on the FTSE 100.

"Weakness in the oil price will come as welcome news to those leading the fight against inflation as thoughts start to turn towards tomorrow's Bank of England interest rate decision. There’s little expectation of an immediate cut but much of the recent market strength comes on back of rising hopes for the first cut in the summer."

In European equities on Wednesday, the CAC 40 in Paris was up 0.7%, while the DAX 40 in Frankfurt was up 0.4%.

Sterling was quoted at USD1.2485 early Wednesday, lower than USD1.2542 at the London equities close on Tuesday.

The euro traded at USD1.0743 early Wednesday, lower than USD1.0774 late Tuesday. Against the yen, the dollar was quoted at JPY155.29 versus JPY154.49.

In the FTSE 100, Informa led the pack, rising 2.5%, after it increased its share buyback programme for 2024 by 50% to GBP500 million.

In a market update, the business information publisher and events organiser said all business were delivering ahead of or in line with annual targets.

Informa expects 2024 revenue will be at the the upper end of its GBP3.45 billion to GBP3.50 billion guidance range, while adjusted operating profit is expected to be at the upper end of GBP950 million to GBP970 million guidance range.

Centrica rose 2.1% to 133.94 pence, after UBS raised its rating for the owner of British Gas to 'buy' from 'neutral', setting an increased price target of 170p from 165p.

In the FTSE 250, OSB led gains, rising 5.5%.

The mortgage lender said financial and operational performance in the first quarter of 2024 was stable, with underlying net interest margin on track to meet full year guidance.

It reported first quarter new originations of GBP1.0 billion, down from GBP1.2 billion a year earlier, while underlying and statutory net loans and advances on March 31 rose to GBP26.0 billion from GBP25.7 billion on December 31.

OSB Chief Executive Officer Andy Golding commented: "The group is well positioned to deliver attractive and sustainable returns across the cycle, with a strong and resilient business model, robust capital and liquidity position, secured loan book and proven risk management capabilities. I look to the future with confidence."

JD Wetherspoon rose 3.2%, after the pub chain said like-for-like sales rose 5.2% in the 13 weeks to April 28 from a year earlier, while year-to-date like-for-like sales rose by 8.3%.

Total sales increased by 3.3% in the quarter and by 6.5% in the year-to-date, it added.

Looking ahead, JD Wetherspoon said it expects profits in the current financial year to be "towards the top of market expectations".

Among London's small caps, Ocean Wilsons rose 5.6%.

In the first quarter of 2024, the investment holding company said revenue rose to GBP129.4 million from GBP109.8 million a year earlier, while profit increased to USD21.2 million from USD16.4 million.

Across the first quarter, Ocean Wilsons said its portfolio increased in value by USD12.7 million or 4.1%, driven by the "strong performance of the public asset portfolio and the fact that the defensive portfolio performed well versus government bonds".

On AIM in London, boohoo lost 4.1%.

The fast fashion firm said pretax loss in the financial year ended February 29 widened to GBP159.9 million from GBP90.7 million a year earlier, hurt by a 17% fall in revenue to GBP1.46 billion from GBP1.77 billion.

boohoo said the decline in revenue was due to a focus on profitability and difficult market conditions.

Looking ahead, boohoo said it is targeting gross merchandise value growth in the year ahead and continued improvement in adjusted Ebitda margin.

It said it was confident of a 6% to 8% Ebitda margin target in the medium term, while it also said it is on track for GBP125 million in annualised cost savings for its financial 2025.

Brent oil was trading at USD82.18 a barrel early Wednesday, lower than USD83.51 late Tuesday.

Israel said it reopened the Kerem Shalom border crossing to humanitarian aid for Gaza on Wednesday, four days after closing it in response to a rocket attack that killed four soldiers.

"Trucks from Egypt carrying humanitarian aid, including food, water, shelter equipment, medicine and medical equipment donated by the international community are already arriving at the crossing," the army said in a joint statement with COGAT, the defence ministry body that oversees Palestinian civil affairs.

The supplies will be transferred to the Gaza side of the crossing after undergoing inspection, it added. The statement said the Erez border crossing between Israel and northern Gaza is also open for aid deliveries into the Palestinian territory.

The Kerem Shalom crossing was closed after a Hamas rocket attack killed four soldiers and wounded more than a dozen on Sunday.

On Tuesday, Israeli troops seized control of the Palestinian side of the Rafah crossing between Gaza and Egypt after launching an incursion into the eastern sector of the city.

The United Nations and Israel's staunchest ally the US both condemned the closure of the two crossings which are a lifeline for civilians facing looming famine.

The US halted a shipment of bombs to Israel last week after it failed to address Washington's concerns over plans to invade the southern Gaza city of Rafah, a senior US official said Tuesday.

Biden's administration made the decision when it appeared Israel was on the verge of a major ground operation into Rafah, which Washington has strongly opposed.

Israeli and US officials had been discussing alternatives but "those discussions are ongoing and have not fully addressed our concerns," the senior US official said.

Gold was quoted at USD2,310.82 an ounce early Wednesday, lower than USD2,322.59 on Tuesday.

In Asia on Wednesday, the Nikkei 225 index in Tokyo ended down 1.6%. In China, the Shanghai Composite ended down 0.6%, while the Hang Seng index in Hong Kong was down 0.8% in late dealings. The S&P/ASX 200 in Sydney closed up 0.1%.

In the US on Tuesday, Wall Street ended treading water, with the Dow Jones Industrial Average up 0.1%, the S&P 500 up 0.1% and the Nasdaq Composite down 0.1%.

[master rsi] 08/5/2024 08:30

FTSE

Another opening UP with 37 points

[master rsi] 07/5/2024 22:07

How the UPS are performing today








How the UPS are performing during last month

[master rsi] 07/5/2024 15:33

Mosman O&G increases daily production on-month at Stanley project, US

(Alliance News) - Mosman Oil & Gas Ltd on Tuesday said production at its Stanley project in the US has increased recently.

The US and Australia-focused natural resource development company said gross production increased 84% to around 221 barrels of oil equivalent per day on a 30 day average flow rate in April, compared to 120 barrels of oil equivalent per day in March.

Mosman O&G said this "significant" increase has been achieved following a recompletion of Stanley-3 which is now flowing oil and gas.

It said it will provide details on production at all assets as part of its quarterly update in June.

Mosman O&G also noted progress made in Australia.

It said it received AUD160,000, or GBP84,350, for its asset EP 145 as expected, which was due upon completion of the previously announced farm-in agreement with Greenvale Energy Pty Ltd.

It added that additional prior exploration expenditure amounts of around AUD100,000 will be invoiced and reimbursed under deal, alongside an environmental bond of around AUD55,000 will be cashed in.

"I am pleased that the continued work on the Stanley project is now achieving stronger production numbers, which improves revenues and is a pre-requisite to sale of the asset in the future," said Mosman O&G Chief Executive Officer Andy Carroll.

[master rsi] 07/5/2024 15:06

Revolution Bars in talks with 32 potential buyers

Proactive Investors - Revolution Bars Group PLC (LON:RBG) has said talks are ongoing with 32 suitors as the embattled hospitality firm eyes a potential rescue deal.

Each had agreed to enter Revolution’s formal sales process, unveiled last month, the company announced on Tuesday.

Such a takeover of all or parts of Revolution is being explored alongside a restructuring plan, which would likely see a quarter of the chain’s venues closed after it has struggled in the face of muted consumer spending.

“The board welcomes the interest of all parties and is open to exploring all options that may deliver a superior outcome to the restructuring plan,” Revolution said.

These formal talks do not include discussions with Piano Works-owner Nightcap PLC (LON:NGHT), which confirmed alongside Revolution last week that it had registered interest in the chain.

Revolution has previously received commitments for up to £12.5 million worth of funding, with the company explaining on Tuesday this would be accessed if the restructuring plan went ahead.

Approval would be needed from shareholders at the company’s annual meeting, Revolution added, with this having been postponed as rescue options are explored.

“[This] will enable the board to more fully update shareholders with respect to the progress of the formal sales process, merger and acquisition process and any other proposal,” Revolution said.

“The board remains of the view that it is in the best interests of the company to explore all its strategic options, including supporting the proposal of a restructuring plan.”