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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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| Upstream | LSE:UPS | London | Ordinary Share | KYG7393S1012 | ORD 0.25P (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 1.625 | 0.00 | 01:00:00 |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 1.625 | GBX |
Upstream (UPS) Share Charts1 Year Upstream Chart |
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1 Month Upstream Chart |
Intraday Upstream Chart |
| Date | Time | Title | Posts |
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| 23/5/2025 | 22:57 | SHARES STRONGLY UP during MAY 2025 | 469 |
| 01/5/2025 | 08:05 | SHARES STRONGLY UP during APRIL 2025 | 559 |
| 31/3/2025 | 22:56 | SHARES STRONGLY UP during MARCH 2025 | 596 |
| 28/2/2025 | 23:23 | SHARES STRONGLY UP during FEBRUARY 2025 | 592 |
| 31/1/2025 | 23:51 | SHARES STRONGLY UP during JANUARY 2025 | 639 |
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Posted at 21/5/2025 08:27 by master rsi LONDON BRIEFING: M&S warns of GBP300 million hit from cyber chaos(Alliance News) - London's FTSE 100 is called to open lower on Wednesday, but the pound perked up following a hotter-than-expected UK inflation report. The pace of annual consumer price inflation topped forecasts, spiking to 3.5% in April, and putting focus on the Bank of England. "The spike could cause a bit of a stink at the Bank of England, which cut interest rates just a couple of weeks ago only to see inflation smash through the 2% target. Two members of the MPC wanted to leave rates unchanged, and may well feel vindicated by today's number. Higher core inflation will be particularly concerning - since this measure of domestically generated inflation should be easier for the bank to influence," Wealth Club analyst Nicholas Hyett commented. "The net effect of all this is a greater squeeze on the consumer, together with the probability of fewer interest rate cuts in the near term. Neither of those is good news for the government's growth agenda - which, despite surprisingly strong GDP growth in recent months, risks getting bogged down before the structural reforms to underpin future growth are in place." In early UK corporate news, M&S warned of a profit hit from the cyber incident the retailer has been grappling with. Currys plans to reinstate its dividend. Here is what you need to know at the London market open: ---------- MARKETS ---------- FTSE 100: called down 0.3% at 8,757.32 ---------- Hang Seng: up 0.4% at 23,780.18 Nikkei 225: down 0.6% at 37,315.54 S&P/ASX 200: up 0.5% at 8,386.80 ---------- DJIA: closed down 114.83 points, 0.3%, at 42,677.24 S&P 500: closed down 0.4% at 5,940.46 Nasdaq Composite: closed down 0.4% at 19,142.72 ---------- US 10-year Treasury yield: 4.52% (4.48%) US 30-year Treasury yield: 5.01% (4.97%) ---------- EUR: higher at USD1.1339 (USD1.1258) GBP: higher at USD1.3456 (USD1.3363) USD: lower at JPY143.56 (JPY144.62) GOLD: higher at USD3,320.04 per ounce (USD3,276.82) OIL (Brent): higher at USD66.03 a barrel (USD65.09) (changes since previous London equities close) ---------- ECONOMICS ---------- Wednesday's key economic events still to come: 17:00 BST eurozone European Central Bank Governor Philip Lane speaks 15:30 BST US EIA crude oil stocks ---------- UK consumer price inflation was hotter-than-expected last month, spiking to the loftiest level since the start of last year, numbers from the Office for National Statistics showed Wednesday. The pace of annual consumer price inflation accelerated to 3.5% in April, from 2.6% in March, topping the FXStreet cited consensus of 3.3%. The last time the rate of inflation was higher was back in January 2024, when it stood at 4.0%. On a monthly basis, consumer prices shot up 1.2% in April, after a 0.3% hike in March. The ONS said the on-year consumer price inflation surge was driven by "housing and household services, transport, and recreation and culture". It said overall prices in transport were up 3.3% on-year in April, an acceleration from 1.2% in March. The ONS said airfare prices were higher due to the Easter holidays. Service price inflation picked up to 5.4% in April, from 4.7% in March. Excluding energy, food, alcohol and tobacco, the annual core consumer price inflation rate was 3.8% in April, quickening from 3.4% in March. ---------- The UK Work & Pensions Secretary will stand firm on Labour's GBP5 billion plans for welfare cuts on Wednesday, arguing that reform is needed to make sure the system survives. Liz Kendall is expected to say there is a "risk" the welfare state would collapse without the proposed changes, which include tightening the eligibility criteria for the main disability benefit in England, the personal independence payment, Pip. Restricting Pip would slash benefits for about 800,000 people, while the sickness-related element of universal credit is also set to be cut. The package of measures is aimed at reducing the number of working-age people on sickness benefits, which grew during the pandemic and has remained high since. The government hopes the proposals can save GBP5 billion a year by the end of the decade. "Unless we ensure public money is focused on those with the greatest need and is spent in ways that have the best chance of improving people's lives, the risk is the welfare state won't be there for people who really need it in the future," she is expected to say in a speech to the Institute for Public Policy Research think tank. ---------- BROKER RATING CHANGES ---------- Citigroup raises Phoenix Group Holdings to 'buy' (neutral) - price target 730 (537) - pence ---------- Morgan Stanley raises AIB to 'equal-weight' (underweight) - price target 7.5 (7.0) EUR ---------- COMPANIES - FTSE 100 ---------- Marks & Spencer warned of a GBP300 million to hit to profit in its new financial year following a cyber incident, marring "strong" annual earnings. The retailer said pretax profit in the year March 29 declined 24% to GBP511.8 million from GBP672.5 million the year prior. Excluding adjusting items, however, pretax profit climbed 22% to GBP875.5 million from GBP716.4 million. Revenue increase 6.0% to GBP13.82 billion from GBP13.04 billion. Profit was hurt by a GBP248.5 million impairment charge recognised in relation to the value of the investment in Ocado Retail, the grocery joint-venture it owns alongside Ocado PLC. "Overall, last year was another year of strong performance, and there are so many opportunities still ahead of us," Chief Executive Stuart Machin said. "Our Food business had another strong year as more customers chose to fill their trolleys with M&S food, more often. Our continuous investment in quality, value and innovation is paying off." The CEO continued: "In Fashion, Home & Beauty, our authoritative lead in quality and value perception and much improved style credentials has broadened appeal and grown market share. This renewed strength in product gives us the foundation to drive future growth through transforming our end-to-end supply chain and accelerating online." M&S upped its final dividend by 30% to 2.6 pence per share from 2.0p. The total dividend was 20% higher at 3.6p from 3.0p. M&S said it entered the new year "with both Food and Fashion, Home & Beauty trading ahead of budget", prior to the cyber incident. M&S said: "Since the incident, Food sales have been impacted by reduced availability, although this is already improving. We have also incurred additional waste and logistics costs, due to the need to operate manual processes, impacting profit in the first quarter. In Fashion, Home & Beauty, online sales and trading profit have been heavily impacted by the necessary decision to pause online shopping, however stores have remained resilient. We expect online disruption to continue throughout June and into July as we restart, then ramp up operations. This will also mean increased stock management costs in the second quarter." It expects a roughly GBP300 million to operating profit this year stemming from the incident, before that figure is reduced by "management of costs, insurance and other trading actions". ---------- JD Sports reported an increase in annual revenue but a decline in profit. It said the new year has started in line with expectations despite a "volatile" market. In the year to February 1, the athleisure retailer's pretax profit declined 11% to GBP715 million from GBP811 million the year prior. Revenue rose 8.7% to GBP11.46 billion from GBP10.54 billion. CEO Regis Schultz said: "Overall trading in the first quarter of the new financial year has been in line with our expectations in a volatile market. Despite this volatility, and uncertainty surrounding the impact of US tariff changes, we look forward into the medium term with confidence that we can continue to outperform the market, improve our profit margin and create significant value for our shareholders." JD Sports lifted its final dividend by 12% to 0.67p per share from 0.6p a year prior. It upped its total payout by 11% to 1.0p from 0.9p. JD Sports said sales in the 13 weeks to May 3 rose 3.1% on an organic basis. "All regions achieved organic sales growth in the quarter. In line with our JD First strategy, the JD segment drove group sales growth* through our store rollout programme across Europe and North America, achieving growth of 4.7% in the quarter. North America saw organic sales growth of 1.4%, reflecting in part a shift in the product launch schedule compared with last year. Europe delivered organic sales growth of 6.5% and we are seeing an improving trend in the UK, helped in part by good weather," it added. ---------- COMPANIES - FTSE 250 ---------- Currys slightly lifted its annual profit outlook and said it will resume its dividend. The electronics retailer now expects to report adjusted pretax profit for the year to May 3 of GBP162 million, up 37% on-year, its outlook raised from GBP160 million. "We finished another year of strengthening performance on a high note with encouraging momentum and accelerating sales growth in both the UK&I and the Nordics. In both, we've grown profits by delivering sales growth, market share gains and gross margin increases. In the Nordics, we've also shown especially strong cost discipline in a still-challenging market," CEO Alex Baldock said. "Cashflow was very healthy. This further strengthening of our balance sheet ensures our resilience and allows the resumption of dividends." Its last dividend was an interim payout for financial 2023. Currys plans to release annual results on July 3. ---------- OTHER COMPANIES ---------- Central Asia Metals has struck an agreement to acquire Sydney-listed New World Resources, in a USD119 million deal that would add the Antler copper deposit in Arizona to its portfolio. Central Asia, a base metals producer with operations in Kazakhstan and North Macedonia, has entered into a "definitive scheme implementation deed" with New World. Central Asia said: "The acquisition of NWR will add to CAML's portfolio a 100% interest in the Antler project, a high-grade copper deposit located in Arizona in the US. In 2024, NWR released a prefeasibility study and maiden probable ore reserve estimate for the Antler project. The PFS demonstrated a post-tax net present value of USD498 million at a 7% discount rate." Central Asia Metals said it will fund the buy with existing cash reserves and a new USD120 million credit facility from a syndicate of "leading international lending banks". CEO Gavin Ferrar said: "The addition of this high-grade copper project in a tier-one jurisdiction will significantly strengthen our portfolio. We have been impressed by the strength of NWR's team and aim to work with them to integrate the Antler project, complete the DFS and work towards a construction decision. In addition, the manageable capital expenditures of the Antler project would provide us the opportunity to fund its development whilst ensuring we maintain a strong financial position." |
Posted at 19/5/2025 08:29 by master rsi Surrender of options @ 6.64p and BUYING the shares at 11.87p, that is a good push for the shares by the Directors and employees...........GGP 11.80p +0.02p Surrender of options, issue of shares, PDMR dealings and total voting rights Further to its announcement on 22 April 2025, Greatland Gold plc (AIM:GGP) (Greatland or the Company), announces that it has cancelled an aggregate of 327,700,000 options over ordinary shares in the Company (Ordinary Shares) held by certain Directors and persons discharging managerial responsibility (PDMRs) and a further 170,000,000 options over Ordinary Shares held by a number of other senior employees, in each case for a consideration of 6.64 pence per option. As announced on 22 April 2025, those Directors, PDMRs and employees have agreed to reinvest 50% of the consideration payable to them to subscribe for new Ordinary Shares at a price per share of 11.87 pence, being the 1 day VWAP of an Ordinary Share on AIM on 16 May 2025. 139,248,894 new fully paid ordinary shares (New Ordinary Shares) are being subscribed for in aggregate and application has been made to the London Stock Exchange for 139,248,894 New Ordinary Shares to be admitted to trading on AIM (Admission). Admission is expected to occur at 8.00am on 20 May 2025. Additionally, employees have surrendered for cancellation a further 170,000,000 options for total consideration of £11,288,000, of which £5,644,000 has been reinvested to subscribe for 47,563,415 New Ordinary Shares. The New Ordinary Shares issued to each holder (and the ordinary shares in Greatland Resources Limited to be issued in exchange for those New Ordinary Shares under the scheme of arrangement approved by shareholders on 12 May 2025) will be subject to a lock-in for a period of 12 months following the date of issue of the New Ordinary Shares, subject to limited market standard exceptions for lock-ins. Admission of shares and total voting rights The total issued share capital of the Company consists of 13,218,543,496 Ordinary Shares. As each Ordinary Share carries the right to one vote, the total number of voting rights in the Company will be 13,218,543,496. No Ordinary Shares are held in treasury. |
Posted at 18/5/2025 21:29 by master rsi Someone is Panicking and Smashing the Gold Price (here's who) | MAY 18, 2025 18:16 - Ed SteerEd Steer reveals how bullion banks are "smashing" gold prices to cover shorts. He highlights unprecedented physical demand and delivery volumes despite price dips. In an interview on the CapitalCosm, veteran precious metals analyst Ed Steer delivered a stark assessment of the current gold and silver markets. Steer, renowned for his decades of experience and deep understanding of the sector, argues that recent price drops are not due to organic market forces but rather the actions of powerful entities attempting to suppress prices and cover their short positions. Steer, whose detailed analysis is followed by investors worldwide, didn't mince words about the recent market turmoil. "We've been smashed to the downside two or three times just in the last 6 weeks or so," he stated, directly addressing the video's title. He elaborated, pointing a finger at "the bullion banks and the investment houses trying to convince people... to try to keep the price down and keep excitement away from the market and to cover as many short positions as they can." According to Steer, a critical dynamic is at play in the Comex futures market. Despite gold trading at historically high levels, the market is primed for a significant rally. He explained that a small number of bullion banks are holding substantial short positions against a vast majority of traders who are net long on gold and silver. "You got eight traders against several thousand others that are all short and controlling the price against thousands of other traders who are net long gold and silver," Steer asserted. He believes these banks are actively working to keep prices down to manage their short exposure. While the paper price of gold and silver has seen downward pressure, Steer highlighted extraordinary activity in the physical markets. He pointed to significant outflows of gold from Comex depositories in recent weeks, a reversal of earlier trends. Simultaneously, silver is experiencing a "monstrous" inflow, much of which is staying put, indicating robust physical demand. Steer emphasized the staggering amount of gold contracts being delivered in May. "In the last two days alone... 5,500 gold contracts [were] delivered in May, which is like unprecedented," he revealed. This translates to millions of ounces of gold being demanded for immediate physical delivery, suggesting a disconnect between the paper price and underlying physical demand. For individual investors, or "stackers" as they are often called, Steer's message is one of cautious optimism and strategic accumulation. He acknowledged the psychological challenge of buying when prices are falling. "Everybody that's buying silver and gold for an investment, I mean, they look at the price and say, 'Gee whiz, it's down today, so I don't think I'm going to buy.'" However, drawing on investment wisdom, Steer advised, "As the best investors will tell you, the best time to buy an asset is when blood is running in the streets." He encouraged a consistent buying strategy, regardless of short-term price fluctuations, to benefit from the eventual upward trajectory he anticipates. Steer believes the current price suppression cannot last indefinitely. "The moment that these bullion banks stop going short against all the people that are going long, you could see the price at some fantastic price within no time at all," he predicted. He likened the bullion banks to a "cork in the price bottle," suggesting that even a temporary pause in their short-selling activity could trigger a dramatic price surge. "If they put their hands in their pocket, even for 24 hours, we'd see gold and silver prices that you frankly can't believe." Ed Steer's analysis of CapitalCosm paints a picture of a precious metals market where artificial forces are actively suppressing prices despite strong underlying demand. His insights suggest that the current situation is unsustainable and that a significant price correction to the upside is increasingly likely once the pressure from bullion banks subsides. Investors are advised to remain informed, exercise patience, and consider the long-term fundamentals driving the demand for gold and silver. |
Posted at 16/5/2025 22:12 by master rsi MARKET REPORTLONDON MARKET CLOSE: Stocks rise amid trade de-escalation boost (Alliance News) - The FTSE 100 pushed higher on Friday, ending the week on a strong note, and now at the level it roughly stood at prior to US President Donald Trump's 'liberation day' tariff melee. The FTSE 100 index rose 50.81 points, 0.6%, at 8,684.56. The FTSE 250 rose 127.50 points, 0.6%, at 20,972.26, and the AIM All-Share added 1.96 points, 0.3%, at 733.81. The Cboe UK 100 ended up 0.7% at 867.47, the Cboe UK 250 rose 0.6% at 18,340.65, and the Cboe Small Companies added 0.1% at 15,856.60. In European equities on Friday, the CAC 40 in Paris rose 0.4% and the DAX 40 in Frankfurt improved 0.3%. The US and China announced Monday an agreement to drastically reduce tit-for-tat tariffs for 90 days, de-escalating a trade war that has roiled financial markets and raised fears of a global economic downturn. The development has given markets a boost this week. The pound was quoted higher at USD1.3260 late on Friday in London, compared to USD1.3279 at the equities close on Thursday. The euro fell to USD1.1146 against USD1.1178. Against the yen, the dollar was trading down at JPY145.97 compared to JPY145.81. The dollar sits slightly above where it was this time last week, the pound had bought USD1.3299 seven days ago, but gold has fallen. Gold was lower at USD3,181.86 an ounce against USD3,213.28 a day prior. "The de-escalation of trade tensions between the United States and China — alongside a generally less aggressive American stance towards other trading partners — has boosted risk appetite across financial markets, weighing on the appeal of the haven metal. At the same time, renewed hopes of a US-Iran agreement have raised expectations of reduced volatility in the Middle East. Ongoing negotiations between Russia and Ukraine, although lacking meaningful progress so far, are also contributing to downward pressure on gold," ActivTrades analyst Ricardo Evangelista commented. Brent oil was quoted at USD65.16 a barrel in London on Friday, up from USD64.28 late Thursday. Oil stocks helped the FTSE 100. Shell added 0.7%, while BP climbed 1.2%. It was also a strong day for pharmaceuticals, which have had a mixed time of late on tariff worries. AstraZeneca added 1.9% and GSK rose 2.4%. Elsewhere in the pharma space, Novo Nordisk fell 1.8% in Copenhagen. Chief Executive Officer Lars Jorgensen would be stepping down per "mutual agreement", after eight years in the role. The Bagsvaerd, Denmark-based pharmaceutical firm said both Jorgensen and the board agreed that commencing a CEO succession would be in Novo's best interests, as well its shareholders. It tied his departure to a mix of "recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation". Sales, profit and the share price have almost tripled under Jorgensen's tenure as CEO, a period which coincided with the boom in weight loss drug sales, catapulting Novo into Europe's largest company by market capitalisation at one point. But the CEO change has been made "in light of recent market challenges" the firm has been facing, and its share price development since mid-2024. Novo shares are down over 50% over the last 12 months. Back in London, Future fell 9.2%. It said it is taking a more conservative outlook for the rest of the financial year to reflect economic concerns and forex headwinds. "Given ongoing macroeconomic uncertainty, the group believes it is prudent to adopt a more cautious view on the second half and expects a low single-digit decline in [full-year] 2025 organic revenue," the firm said in a statement. In February, the company said it was on track to meet market expectations for the year to September 30, citing a company-compiled consensus of GBP776.9 million in revenue, a 1.4% decline from GBP788.2 million in the prior financial year. Future said US direct advertising was hit in March by macroeconomic uncertainty but returned to growth in April. In addition, foreign exchange represents a headwind, the firm said. Elsewhere, Staffline shot up 19%. The Nottingham, England-based recruitment and training firm has secured a "significant" strategic partnership with one of the UK's leading food and drink supply chain management and logistics providers covering the whole of the UK and Ireland. The partnership is for an initial two years with a one-year extension option to fully outsource to Staffline of the agency's labour services that are currently supplied by the in-house labour supplier. Staffline expects the contract to strengthen its market position in the logistics sector. In New York on Friday, the Dow Jones Industrial Average was marginally lower, the S&P 500 a touch higher, and the Nasdaq Composite down 0.1%. The yield on the US 10-year Treasury was quoted at 4.44%, narrowing from 4.47%. The yield on the US 30-year Treasury was quoted at 4.89%, narrowing from 4.92%. Monday's economic calendar has a Chinese unemployment reading overnight, before eurozone inflation data at 1000 BST. |
Posted at 16/5/2025 14:55 by master rsi PHP makes third offer for Assura at £1.68bn, trumps KKR and Stonepeak(Sharecast News) - Primary Health Properties said on Friday that it has made a third takeover offer for Assura valuing the group at £1.68bn, trumping the £1.61bn offer from investment firms KKR and Stonepeak Partners that Assura accepted last month. The latest offer of 51.7p per share is a 38.2% premium to the closing share price on 13 February, the last business day prior to the start of the offer period. Assura has already rejected offers of 46.2p and 43p a share from PHP. Primary Health chief executive Mark Davies said: "Our offer announced today enables the shareholders in PHP and Assura to benefit from the rising demand for primary care. The enhanced financial strength of a larger REIT, which is committed to maintaining a strong investment grade credit rating, and is expected to have a reduced cost of capital and annualised cost synergies of approximately £9m. "The benefits of a combination of PHP and Assura are compelling and set out above. We have carefully crafted our offer which is expected to deliver earnings accretion to both sets of shareholders, underpinning our progressive dividend policy in the future, which remains crucially important. We encourage shareholders to support the combination and look forward to capturing the significant opportunity to create shareholder value in the future from the combined entity." Assura announced in April that it had agreed to be taken over by KKR and Stonepeak for 49.4p a share, which is a 33.5% premium to the closing price on 13 February. Assura CEO Jonathan Murphy said at the time: "The cash offer from KKR and Stonepeak offers an attractive opportunity for Assura shareholders to crystallise value immediately." |
Posted at 16/5/2025 10:20 by master rsi LONDON BROKER RATINGS: HSBC raises Carnival; Citi raises Tate & LyleFTSE 100 Deutsche Bank Research raises 3i Group price target to 4,500 (4,410) pence - 'buy' ---------- JPMorgan raises St James's Place target to 1,310 (1,205) pence - 'overweight' ---------- Barclays raises National Grid price target to 1,250 (1,145) pence - 'overweight' ---------- JPMorgan cuts Centrica price target to 170 (185) pence - 'overweight' ---------- Barclays cuts Marks & Spencer price target to 430 (440) pence - 'overweight' ---------- Goldman Sachs raises Tesco price target to 400 (370) pence - 'buy' ---------- Deutsche Bank Research raises Barclays price target to 370 (350) pence - 'buy' FTSE 250 HSBC raises Carnival to 'buy' - price target 1,645 pence ---------- Citigroup raises Tate & Lyle to 'buy' - price target 670 pence ---------- Berenberg raises Premier Foods price target to 250 (240) pence - 'buy' ---------- Barclays raises Watches Of Switzerland target to 525 (520) pence - 'overweight' ---------- Deutsche Bank cuts Close Brothers price target to 550 (600) pence - 'buy' ---------- JPMorgan raises Quilter price target to 164 (158) pence - 'overweight' ---------- JPMorgan cuts ITV price target to 110 (112) pence - 'overweight' ---------- Goldman cuts ITV price target to 77 (80) pence - 'neutral' ---------- SMALL CAP ---------- Deutsche Bank raises Gooch & Housego price target to 625 (560) pence - 'buy' ---------- Deutsche Bank cuts Victorian Plumbing price target to 95 (110) pence - 'hold' |
Posted at 14/5/2025 21:36 by master rsi MARKET REPORTLONDON MARKET CLOSE: FTSE 100 falters as European stocks track lower (Alliance News) - The FTSE 100 closed lower on Wednesday, consolidating recent progress, held back by several poorly received trading updates. The FTSE 100 index ended down 17.91 points, 0.2%, at 8,585.01. The FTSE 250 was up 59.90 points, 0.3%, at 20,819.57, and the AIM All-Share was up 0.53 of a point, 0.1%, at 731.62. The Cboe UK 100 was down 0.4% at 855.53, the Cboe UK 250 was up 0.3% at 18,201.61, while the Cboe Small Companies climbed 1.3% at 15,921.93. In European equities on Wednesday, the CAC 40 in Paris was down 0.7% and the DAX 40 in Frankfurt ended down 0.5%. In New York, the Dow Jones Industrial Average was flat, the S&P 500 index was up 0.1% and the Nasdaq Composite up 0.6%. Investors continued to weigh the US-China trade deal which has lessened the likelihood of a global recession. Emmanuel Cau at Barclays commented: "Lower tariffs tail risk means lower recession risk. The US-induced trade war is de-escalating more quickly than we had expected, and the meaningful US-China truce removes a key tail risk for the global economy." "While the tariffs endgame remains uncertain, we believe that a 10% universal/30% China tariffs scenario is now likely, which is somewhat better than our 10%/60% assumption pre-'liberation day'. Our US economists now expect a less significant jump in inflation and no recession. However, macro set-up is still sub-optimal and with stocks already above pre-'liberation day' levels, a lot of good news is likely priced in already." Nonetheless, Cau added "further upside is possible but in our view would be contingent on stronger growth to boost earnings and valuations, while much uncertainty remains about a prospective US-EU trade deal." "We believe that so long as there is a path towards more deals and lower tariffs, markets will likely continue to see the glass half full and ignore backward-looking hard data, while soft data may actually start to rebound," Cau stated. UBS noted the Nasdaq has returned to bull market territory and thinks there is more to go. "We think tech stocks should continue to recover, supported by strong earnings growth of 12% or higher if tariff headlines continue to improve. We favor diversified exposure across leading internet and software companies and names along the AI semiconductor supply chain globally," commented Mark Haefele, chief investment officer, UBS Global Wealth Management The pound was quoted higher at USD1.3302 late on Wednesday in London, compared to USD1.3278 at the equities close on Tuesday. The euro stood at USD1.1208, higher against USD1.1174. Against the yen, the dollar was trading at JPY146.43, lower compared to JPY147.84 on Tuesday. On the FTSE 100, Spirax Group fell 6.0%, as it maintained guidance but said revenue growth will be second-half weighted. The Cheltenham, England-based thermal energy and fluid technology company maintained its outlook for 2025, but recognised the continuing uncertainty regarding the macroeconomic impact of tariffs. Spirax said its local manufacturing "mitigates the direct exposure of tariffs" and it expects to manage the financial impacts through "surcharges, pricing and limited reorganisation of manufacturing activity." Imperial Brands slid 7.3% after it said Chief Executive Stefan Bomhard will retire this year. The Bristol, England-based tobacco products manufacturer said Bomhard will be succeeded as CEO by Lukas Paravicini, currently chief financial officer, on October 1. Bonhard, who has been CEO for five years, will continue to serve on the board until the end of the year, and be available until May 2026 to support Paravicini with the transition. Murray McGowan, currently Imperial Brands' chief strategy and development officer, will become CFO. The news came as Imperial Brands reported operating profit fell 2.5% to GBP1.46 billion in the six months to March 31 from GBP1.49 billion a year prior. On an adjusted basis, operating profit slipped 1.0% to GBP1.65 billion from GBP1.67 billion, but rose 1.8% at constant currency. Revenue fell 3.1% to GBP14.60 billion from GBP15.06 billion but earnings per share improved 0.7% to 96.7 pence from 96.0p. AJ Bell's Russ Mould said the share price fall reflected the degree to which Bonhard has "won over sceptical investors with his five-year turnaround plan." Mondi led the blue-chip gainers, rising 3.2%, as JPMorgan upgraded to 'overweight' from 'neutral'. JPM analyst Detlef Winckelmann thinks Mondi's valuation "screens attractive". " Over the last nine months, consensus has consistently assumed a recovery in containerboard and kraft paper markets which never materialised," he pointed out. This has resulted in consistent earnings downgrades and made it difficult to invest based on valuation, Winckelmann explained. "However, for the first time in a while, consensus has not assumed a recovery in containerboard or kraft paper markets, and therefore we think the downgrade cycle is over (or at least very close to being over), which should increase the credibility of forward multiples," the JPM analyst said. BAE Systems rose 1.5% after hosting a capital markets event on Tuesday. Berenberg said most notable was management’s expectation that Typhoon combat aircraft production rates may double from current levels of 12 to 14 aircraft per year. "The current backlog is 112 aircraft and the company pointed to a further 150 export opportunities for the aircraft. Rumoured interest stems from Turkey, Saudi Arabia and Qatar, among other countries. Typhoon build represented 3% of group revenue in 2024," Berenberg said. On the FTSE 250, Burberry soared 17% as it announced new cost-cutting measures after reporting lower annual sales as its strategic reset continues. The London-based luxury goods manufacturer reported a pretax loss of GBP66 million in the 52 weeks to March 29 compared with a profit of GBP383 million a year prior. Adjusted operating profit plunged to GBP26 million from GBP418 million a year ago, while revenue fell 17% to GBP2.46 billion from GBP2.97 billion. Despite this, Chief Executive Officer Joshua Schulman said he is "more optimistic than ever that Burberry's best days are ahead and that we will deliver sustainable profitable growth over time." RBC Capital Markets said the results were "better than expected". "We view these results as an encouraging first step, and believe management are pursuing the right strategy to reset the business on a more level footing, which in time should support a return to positive revenue and profit growth," it added. Gold declined to USD3,184.56 an ounce on Wednesday against USD3,250.97 on Tuesday. Brent oil was quoted at USD66.01 a barrel, down from USD66.21 late Tuesday. Thursday's economic calendar has eurozone industrial production and GDP figures, a UK GDP print plus US PPI, retail sales and industrial production figures. The local corporate calendar on Thursday has a trading statement from Aviva and full-year results from National Grid and United Utilities |
Posted at 13/5/2025 22:52 by master rsi MARKET REPORTLONDON MARKET CLOSE: Blue chips lacklustre despite fresh US tech gains (Alliance News) - The FTSE 100 struggled for direction on Tuesday, closing slightly lower, despite cooling domestic wage pressures and a soft inflation print in the US. The FTSE 100 index ended down just 2.06 points at 8,602.92. The FTSE 250 was up 132.39 points, 0.6%, at 20,759.67, and the AIM All-Share was up 1.79 points, 0.3%, at 731.09. The Cboe UK 100 was up 0.1% at 858.80 and the Cboe UK 250 was up 0.5% at 18,147.86, while the Cboe Small Companies was down 0.1% at 15,714.63. In European equities on Tuesday, the CAC 40 in Paris and the DAX 40 in Frankfurt ended up 0.3%. Stocks in New York were mostly higher. The Dow Jones Industrial Average was down 0.3%, pegged back by a 16% fall in UnitedHealth Group. The firm said Chief Executive Andrew Witty is stepping down for "personal reasons" as it suspended its annual outlook. In contrast, the S&P 500 index was up 0.9% and the Nasdaq Composite up 1.6%. Nvidia jumped 5.5% after announcing it will sell over 18,000 of its latest artificial intelligence chips to Saudi Arabian company Humain. The announcement was made as part of a White House-led trip to the region that includes President Donald Trump and other top CEOs. US consumer price inflation was cooler than expected last month, numbers on Tuesday showed. According to the Bureau of Labor Statistics, the pace of yearly consumer price inflation eased to 2.3% in April, from 2.4% in March. The figure undershot the FXStreet cited consensus. The annual inflation rate had been expected to remain at 2.4%. It was the coolest rate of inflation since February 2021, the BLS said. Excluding food and energy, the annual core inflation rate remained at 2.8% in April, as expected. On a monthly basis, consumer prices advanced 0.2% in April, having fallen 0.1% in March from February. However, loftier growth of 0.3% was expected for April, according to FXStreet. Core consumer prices rose 0.2% in April from March also, but similarly fell short of a 0.3% forecast. "With the price hike threat from tariffs receding thanks to recent agreements and with leading housing indicators pointing to a cooling in shelter costs, there will continue to be scope for Federal Reserve interest rate cuts later in the year," analysts at ING said. Kathleen Brooks at XTB said the data suggests that the US economy was in "good shape" in April, that tariffs are not showing up in the inflation data yet, and that "demand for services remains strong, which is why service providers can raise their prices at the rates we have become used to in recent years." Back in the UK, figures showed the labour market is slowing and wage pressures easing, which analysts think points to an August interest rate cut by the Bank of England. Figures from the Office for National Statistics showed the UK jobless rate was 4.5% in the three months to March 2025, in line with FXStreet-cited consensus, and up from 4.4% in the previous three-month period to February. Vacancies fell by 42,000 to 761,000 during the quarter, which was the 34th consecutive quarterly decline, while the number of payrolled employees fell by 0.2% or 53,000 during the quarter. Annual growth in regular pay, which excludes bonuses, was 5.6%, edging down from 5.9% in the three months to February, and falling short of an FXStreet-cited consensus for 5.7%. "The UK labour market is slowing, not collapsing, and that is translating into a steady fall in wage growth. The Bank of England will want to see this trend continuing for a few more months before it becomes more confident on the wage story," ING said. Bank of America said the "faster than expected cooling in wage growth and softening in the labour market should allow further cuts from the BoE." The broker expects the BoE to cut interest rates in August, September and November to a terminal rate of 3.5%. ING said next week's services inflation number will be much more consequential, given that April's data is when the big annual price hikes kick in. "We think this could come in a little below the bank's forecasts, which would help cement an August rate cut," it said. The pound was quoted higher at USD1.3278 late on Tuesday in London, compared to USD1.3206 at the equities close on Monday. The euro stood at USD1.1174, higher against USD1.1114. Against the yen, the dollar was trading at JPY147.84, lower compared to JPY148.18 on Monday. On the FTSE 100, bookmaker Entain jumped 6.0% as UBS upgraded to 'buy' from 'neutral' and raised its share price target to 920 pence from 820p. British Airways owner IAG continued its recent rally, rising 3.5%, on hopes the cooling in global trade tensions will support travel. Budget airline easyJet was also in favour, climbing 2.3%. But DCC tumbled 6.5% despite announcing plans to return GBP800 million to shareholders as profit fell short of expectations. The Dublin-based sales, marketing, and support services provider said pretax profit fell 18% to GBP294.9 million in the year to March 31 from GBP359.2 million a year prior. Adjusted operating profit from continuing operations increased 3.0% to GBP703.6 million from GBP682.8 million a year prior, below GBP713 million consensus, cited by RBC Capital Markets. "Irish conglomerate DCC is among the many companies following the 'shrink to greatness' strategy, offloading parts of its business to focus on what it does best. This process is still ongoing and it's a disappointment to see full-year earnings come in below expectations," commented AJ Bell analyst Russ Mould. Last November, DCC announced the sale of DCC Healthcare for an enterprise value of GBP1.05 billion and on Tuesday, the firm said it plans to return GBP800 million of proceeds to shareholders. RS Group topped the risers in the FTSE 250, up 6.3%, after Bank of America put the stock on its 'buy' list. "We think short-cycle weakness is fairly reflected in numbers, and the end of the destocking cycle can support a return to growth in 2H Automation, while the announced savings programs will drive margin expansion," Bank of America says in a research note. Elsewhere, luxury good retailer Burberry was in demand, ahead of results on Wednesday, up 3.7%. Gold advanced to USD3,250.97 an ounce on Tuesday against USD3,236.25 on Monday. Brent oil was quoted at USD66.21 a barrel, up from USD65.21 late Monday. Wednesday's economic calendar has an inflation reading from Japan overnight. The local corporate calendar on Wednesday has half-year results from contract caterer Compass Group and full-year results from luxury goods retailer Burberry. |
Posted at 12/5/2025 09:55 by master rsi LONDON BROKER RATINGS: Morgan Stanley cuts BP; UBS cuts DeliverooFTSE 100 Barclays raises Next price target to 11,900 (11,750) pence - 'equal weight' ---------- Oddo BHF raises Next price target to 11,500 pence - 'neutral' ---------- Jefferies cuts Reckitt Benckiser price target to 5,000 (5,100) pence - 'hold' ---------- UBS raises Imperial Brands price target to 3,350 (3,100) pence - 'buy' ---------- Morgan Stanley cuts BP to 'underweight' - price target 340 pence ---------- Bernstein raises International Consolidated Airlines Group price target to 300 (260) pence - 'market-perform' ---------- Barclays raises IAG price target to 235 (200) pence - 'underweight' FTSE 250 Jefferies starts International Workplace Group with 'buy' - price target 240 pence ---------- Jefferies raises Renishaw to 'hold' (underperform) - price target 2,450 (2,890) pence ---------- JPMorgan cuts Qinetiq price target to 515 (570) pence - 'overweight' ---------- Deutsche Bank Research cuts Derwent London price target to 2,400 (2,750) pence - 'hold' ---------- Deutsche Bank Research cuts Shaftesbury Capital price target to 175 (180) pence - 'buy' ---------- Deutsche Bank Research cuts Playtech price target to 417 (903) pence - 'buy' ---------- UBS cuts Deliveroo to 'neutral' - price target 180 pence ---------- Bryan Garnier cuts Deliveroo to 'neutral' (buy) - price target 180 (155) pence SMALL CAP BofA raises Atalaya Mining Copper price target to 470 (400) pence - 'buy' ---------- Deutsche Bank Research raises Wickes price target to 199 (160) pence - 'hold' ---------- Barclays cuts Old Mutual price target to 53 (63) pence - 'underweight' ---------- Deutsche Bank Research cuts S4 Capital price target to 32 (37) pence - 'hold' |
Posted at 08/5/2025 07:47 by pangrati Hemogenyx Pharmaceuticals plc / LSE:HEMOHemogenyx Secures £451,250 to continue its Phase 1 Clinical Trials And Director's Dealing Introduction Hemogenyx Pharmaceuticals plc (LSE: HEMO) is pleased to announce that it has raised gross proceeds of £451,250 (before expenses) via an allotment to Vladislav Sandler of 250,000 new ordinary shares of £0.01 each ("New Ordinary Shares") at an issue price of 180.5p (being the bid price as at close of business on 7 May 2025) (the "Issue Price"). The net proceeds of this fundraise will be dedicated to the continuation of the Phase I clinical trials for the Company's Chimeric Antigen Receptor T-cell therapy ("HG-CT-1"), aimed at treating relapsed/refractory acute myeloid leukemia in adults ("R/R AML"). As shareholders will be aware, the first two patients have now been infused with HG-CT-1. Issuance of the New Ordinary Shares The Company is currently unable to issue and admit the New Ordinary Shares without either the publication of an FCA approved prospectus or relying upon an exemption to the requirement to issue a prospectus. Consequentially, this fundraise involves the acceptance by Vladislav Sandler, CEO and director of the Company to subscribe for the New Ordinary Shares at the Issue Price pursuant to the employee offer exemption under Article 1(4)(i) and 1(5) (h) of the UK Prospectus Regulation. Following allotment of the New Ordinary Shares, Vladislav Sandler has agreed to direct their issue to an institution, who will immediately sell these New Ordinary Shares at the same Issue Price to a purchaser identified by it (the "Purchaser"). Warrants Concurrent with the purchase of the New Ordinary Shares, the Purchaser will receive warrants from the Company on a one-for-one basis. These warrants will be exercisable for a period of 36 months at an exercise price of 270 pence ("Exercise Price"), subject to adjustment in certain circumstances as set out in the warrant instrument including a reset of the Exercise Price if the Company completes a share issuance (or other transaction granting rights to subscribe for equity securities) during the Exercise Period at a price lower than the Exercise Price. Total Voting Rights Application will be made for the 250,000 New Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares of the Company, to be admitted to the FCA official list and to trading on the equity shares (transition) category of the Official List maintained by the FCA and to trading on the main market for listed securities of the LSE, which is expected to occur on or around 8.00 a.m. on 14 May 2025 ("Admission"). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 4,343,539. The above figure of 4,343,539 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company will keep the market informed of future developments as trials proceed. Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented: "We are pleased to have secured this funding from a single, committed investor on terms that reflect confidence in the long-term value of Hemogenyx. The fact that the raise was completed at the market price, with no discount, sends a clear signal: this investor sees meaningful upside in our share price as we advance HG-CT-1 through clinical development. Their support allows us to maintain momentum in our Phase I trial without diluting value unnecessarily." |
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