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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| 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 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| 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 |
|---|---|---|---|
| 09/7/2025 | 09:49 | SHARES STRONGLY UP during JULY 2025 | 166 |
| 30/6/2025 | 22:02 | SHARES STRONGLY UP during JUNE 2025 | 627 |
| 01/6/2025 | 20:34 | SHARES STRONGLY UP during MAY 2025 | 598 |
| 01/5/2025 | 08:05 | SHARES STRONGLY UP during APRIL 2025 | 559 |
| 31/3/2025 | 22:56 | SHARES STRONGLY UP during MARCH 2025 | 596 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 07/7/2025 11:00 by master rsi when the UPS share price was 1.625p. UPSEEE 26.25p ( 25.50 v 27p ) After the ups and downs of the share price over the last few days, MMs decided it is time to let it go. The short-term Fibonacci chart says the 61.8% was almost reached 10 days ago on the drop to 22.75p. The MRE is not expected till later in the 3/4Q. --------------- Intraday -------------------- INDICATORS |
Posted at 07/7/2025 08:54 by master rsi when the UPS share price was 1.625p. LONDON BRIEFING:MARKETS FTSE 100: called down 0.2% at 8,805.91 GBP: down at USD1.3605 (USD1.3640 at previous London equities close) ---------- ECONOMICS UK annual house price growth eased ever-so-slightly last month, though the "market's resilience continues to stand out," mortgage lender Halifax said. Year-on-year house price growth slowed slightly to 2.5% in June, from 2.6% in May. On-month, prices were flat. Prices had fallen 0.3% in May from April. "The market's resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with more buyers returning to the market. That's being helped by a few key factors: wages are still rising, which is easing some of the pressure on affordability, and interest rates have stabilised in recent months, giving people more confidence to plan ahead," Halifax analyst Amanda Bryden said. BROKER RATINGS Citigroup raises Weir to 'buy' - price target 2,900 pence ---------- RBC cuts Currys to 'sector perform' (outperform) - price target 140 pence ---------- COMPANIES - FTSE 100 Shell set out a weaker top-end of its outlook range for Integrated Gas unit production in the oil major's customary pre-results snippet. Shell expects output between 900,000 and 940,000 barrels of oil equivalent per day in Integrated Gas, compared to a 890,000-950,000 range given in its first quarter results. LNG liquefaction volumes of 6.4 million to 6.8 million metric tonnes are expected, the top end of the range trimmed from 6.9 million, but the bottom raised from 6.3 million. Shell warned that second quarter trading and optimisation results in Integrated Gas and Chemicals & Products will be "significantly lower" than the first quarter. In Upstream, its second quarter output forecast range stands at 1.66 million to 1.76 million boepd, the bottom end lifted from the 1.56 million in the outlook range given in its first quarter results. ---------- Glencore announced it will kick off a USD1 billion share buyback programme. It is to be completed by the time it releases annual results for 2025, in February of next year. UBS will conduct the programme. "The programme's purpose is to reduce the capital of the company. It is currently intended that any shares purchased will be held in treasury," it said. COMPANIES - FTSE 250 Trading platform provider Plus500 reported profit and revenue growth for the second quarter of the year, and it "remains confident in the outlook". Earnings before interest, tax, depreciation and amortisation rose 12% on-year in the second quarter to USD91.3 million from USD81.3 million. Revenue climbed 15% to USD209.3 million from USD182.6 million. For the whole of the first half, the Ebitda was 1% higher at USD185.1 million, while revenue rose 4% to USD415.1 million. Its Ebitda margin for the first half weakened to 45% from 46% a year prior. For the second quarter alone, the margin fell to 44% from 45%. "Following a strong start to the year, the board of directors of Plus500 remains confident in the outlook for the group for 2025 and beyond, reflecting the group's market-leading technological capabilities, balance sheet strength, earnings resilience and the emerging opportunities, particularly within the business-to-business (Institutional) futures space," Plus500 added. It puts consensus for the whole of 2025 at USD746.2 million for revenue and USD345.2 million for Ebitda. In 2024, revenue totalled USD768.3 million and it achieved an Ebitda of USD342.3 million. It added: "The company will announce new shareholder returns, comprising dividends and share buybacks, consistent with its shareholder returns policy, as part of its H1 2025 results on Monday 11 August 2025." ---------- SSP Group said the proposed initial public offering of an Indian joint-venture has kicked off. Travel Food Services has finalised the allocation of 5.3 million shares to anchor investors at INR1,100 each, the top of a "previously indicated IPO price band", Upper Crust owner SSP said. "The final IPO price will be determined through the book build process," it added. "The Anchor Investor list includes funds managed by large global and Indian investors such as ICICI Prudential, Abu Dhabi Investment Authority, Axis Asset Management, Fidelity, Government Pension Fund Global (Norges Bank), Kotak Mahindra Asset Management, amongst others." SSP on Wednesday said K Hospitality Corp, its joint venture partner in India, noted that TFS filed its Red Herring Prospectus with the Indian regulatory authorities regarding the proposed IPO. K Hospitality expects a market capitalisation of between INR137.6 billion and INR144.8 billion, so up to around GBP1.24 billion. OTHER COMPANIES Ferrexpo said commercial production in its second quarter weakened, as the suspension of VAT refunds meant it had to "downscale operations". The iron ore pellet producer in Ukraine said total commercial production for its second quarter to March was 1.3 million tonnes, down 40% from 2.1 million achieved in the first quarter. The first quarter result was the highest it has achieved since Russia launched its invasion of Ukraine back in February 2022. "Formal written notifications of decisions not to refund VAT from the Ukrainian tax authorities are being received on a monthly basis, typically two months after the reporting month. From January to April 2025 the amount of VAT refunds refused is USD31 million," Ferrexpo added. "Due to the ongoing suspension of VAT refunds and the resulting reduction in financial liquidity, the group has been forced to downscale operations from two to one pelletising line and also to reduce the production of high-grade concentrate." The company said it has "worked extensively to lower its costs to remain financially viable". Interim Executive Chair Lucio Genovese said: "This includes placing approximately 37% of employees on reduced working time or on furlough, cuts in procurement of goods and services and a suspension of all non-essential capital expenditure, [corporate social responsibility] and humanitarian spending. In tandem, all efforts and representations are underway with the respective authorities and government bodies in Ukraine and internationally to try to resolve the VAT refund suspension. I am grateful to all our colleagues for their efforts and contributions during this challenging time." ---------- Central Asia Metals said it has entered into a revised takeover deal for New World Resources, cementing an increase in its bid for the Sydney listing. Central Asia said it will pay AUD0.062 in cash per New World share, valuing the North America-focused exploration and development at AUD230 million, around GBP109.9 million. The bid matches an offer by Kinterra Capital, CAML said, and "provides transaction and funding certainty, and a simple cash exit for NWR shareholders". Kazakhstan and Macedonia-focused base metals firm CAML back in June said it increased the value of its bid for New World. It said at the time that a deed of variation was being "executed to formalise the price increase". "The NWR board unanimously recommends that NWR shareholders accept the CAML offer, and each NWR board member intends to accept the CAML offer in respect of all shares they own or control, in the absence of a superior proposal," according to a statement on Monday. CAML currently owns around 12% of NWR. |
Posted at 26/6/2025 08:31 by master rsi LONDON BRIEFING: Stocks down ahead of US personal consumption data(Alliance News) - Stocks were called in the red ahead of US data and comments from Bank of England Governor Andrew Bailey, while US President Trump claims that progress is being made to end conflicts in the Middle East. Despite the possibility of geopolitical tensions de-escalating, "the supply-demand dynamics continue to favour softer oil prices", Swissquote's Ipek Ozkardeskaya said. "Global demand prospects are weakening due to trade uncertainties, while supply is ample thanks to faster production restoration from OPEC+...So, if Middle East tensions are truly done and dusted, oil is more likely than not to fall back toward, or even below, the USD60pb level. "That's good news for the Federal Reserve's [Fed] inflation battle — but unfortunately, it's not the only risk factor. The real threat to US inflation now is tariffs, and there's been little progress on that front. "Fed Chair Powell keeps insisting the US doesn't need to rush into rate cuts until there's more clarity on trade policy. But no one listens — even less so now, as there's growing concern that Trump could prematurely appoint the next Fed Chair to sideline Powell, who has resisted rate cuts. A new Trump-approved Chair would likely be more willing to cut rates, pleasing Trump, who insists the U.S has no inflation problem. Technically, that's true — for now. But it could, and that's the problem." Here is what you need to know at the London market open: MARKETS FTSE 100: called down 8.7 points, 0.1%, at 8,710.05 ---------- Hang Seng: down 0.8% at 24,279.32 Nikkei 225: up 1.6% at 39,555.27 S&P/ASX 200: down 0.1% at 8,550.80 ---------- DJIA: closed down 106.59 points, 0.3%, at 42,982.43 S&P 500: closed down 0.02 points at 6,092.16 Nasdaq Composite: closed up 0.3% at 19,973.55 ---------- US 10-year Treasury yield: 4.27% (4.32%) US 30-year Treasury yield: 4.81% (4.86%) ---------- EUR: higher at USD1.1677 (USD1.1626) GBP: higher at USD1.3704 (USD1.3622) USD: lower at JPY144.67 (JPY145.60) GOLD: higher at USD3,332.05 per ounce (USD3,323.77) OIL (Brent): lower at USD67.90 a barrel (USD68.18) ---------- ECONOMICS Thursday's key economic events still to come: China National People's Congress Standing Committee 09:00 CEST eurozone ECB general council meeting 08:00 CEST Germany consumer confidence 09:30 BST UK Bank of England Deputy Governor Sarah Breeden speaks 12:00 BST UK Bank of England Governor Andrew Bailey speaks 14:00 BST UK Bank of England Director Lee Foulger speaks UK CCBS Conference: Transforming monetary policy 13:30 BST US GDP 13:30 BST US quarterly personal consumption expenditures 13:30 BST US initial jobless claims 13:30 BST US wholesale inventories 13:30 BST US durable goods orders 13:30 BST US Chicago Fed national activity index 15:30 BST US EIA natural gas stocks 16:00 BST US Kansas City Fed manufacturing activity 15:00 BST US pending home sales ---------- The UK's steel and energy sectors could be classed as "nationally important" to security under new procurement rules aimed at giving homegrown industry an edge over foreign firms. Public sector buyers would be able to avoid normal requirements to consider overseas bidders and instead give priority to domestic firms under the plans set out in a consultation that launched on Wednesday. Ministers would be allowed to designate sectors including steel, energy and cyber as nationally important in order to help grant them more of the GBP400 billion spent on procurement each year, the government said. ---------- A trade plan unveiled by the UK government aims to boost exports and protect domestic firms. The Department for Business & Trade said it was the UK's first trade strategy to be published since Brexit. As part of the plan, the DBT pledged to introduce new tools and safeguards to help protect UK firms against the threat of a shifting global trade environment. It is also expanding the capacity of UK Export Finance – the country's export credit agency – by GBP20 billion to a total of GBP80 billion. The body provides government-backed loans, guarantees and insurance to help companies trade overseas. ---------- Europe's start-up sector fears that the EU might weaken key digital legislation in exchange for concessions from the US in its ongoing tariff dispute with the EU. In a letter to the European Commission, seen by dpa on Thursday, digital associations warned against potential compromises on the Digital Markets Act, DMA, which Brussels uses to regulate big US tech firms and which was the basis for recently imposed heavy fines on Apple and Meta. The letter expressed significant concern over reports that the US trade representative had proposed temporarily suspending DMA enforcement of US tech companies as part of a bilateral dialogue with the EU. "The DMA is not a geopolitical manoeuvre and must not be allowed to become one," the signatories, including the European Start-up Network, the German Start-up Association & France Digitale, wrote. "We therefore urge you: Do not allow the enforcement of the DMA to be weakened or delayed," they warned. ---------- EU leaders are to meet on Thursday in Brussels to discuss the bloc's most pressing issues including Russia's war against Ukraine, Europe's defence and the economy. "Ukraine has been steadfast in its efforts to enable a real peace process. And the EU will remain equally steadfast in its support to Ukraine," said European Council President Antonio Costa ahead of the two-day meeting. Leaders are expected to discuss prolonging existing EU sanctions on Russia as well as adopting additional restrictive measures. The European Commission has proposed an 18th package of sanctions earlier this month with additional measures against Russia's ENERGY and banking sector. While most EU countries are stern supporters of Kyiv, Hungarian Prime Minister Viktor Orban has repeatedly opposed military support for Ukraine and Kyiv's path to EU membership. Ukrainian President Volodymyr Zelensky is expected to join EU leaders by video-link. ---------- US President Donald Trump said Wednesday that progress was being made to end the Israel-Hamas war in Gaza, as a new ceasefire push began more than 20 months since the start of the conflict. "I think great progress is being made on Gaza," Trump told reporters, adding that his special envoy Steve Witkoff had told him: "Gaza is very close." He linked his optimism about imminent "very good news" to a ceasefire agreed on Tuesday between Israel and Hamas's backer Iran to end their 12-day war. Israeli Prime Minister Benjamin Netanyahu faces growing calls from opposition politicians, relatives of hostages being held in Gaza and even members of his ruling coalition to bring an end to the conflict. The Israeli government declined to comment on any new ceasefire talks beyond saying that efforts to return Israeli hostages in Gaza were ongoing "on the battlefield and via negotiations". ---------- BROKER RATING CHANGES ---------- Kepler Cheuvreux cuts Melrose Industries to 'hold' ---------- UBS cuts British Land to 'neutral' (buy) - price target 410 (465) pence ---------- Berenberg starts Zegona with 'buy' - price target 1,000 pence ---------- COMPANIES - FTSE 100 ---------- Shell has denied it is in talks to acquire rival BP after reports about a deal that would combine the UK's two biggest oil companies, both based in London. "Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer," Shell said, adding that the firm was focused on adding value by improving its performance. BP declined to comment. The Wall Street Journal on Wednesday said its sources indicated that the two firms had held "early talks" about merging their operations. WSJ sources said talks between company representatives are active and BP is considering the approach carefully. Potential terms of any deal couldn't be learned, and a tie-up is far from certain, the WSJ said, adding discussions are moving slowly. ---------- Pershing Square Holdings announced an additional share buyback programme worth USD200.0 million, which it expects to be accretive to net asset value per share and will reduce PSH's capital. It intends to repurchase up to 10.0 million shares. ---------- Associated British Foods released a trading update lamenting UK-US trade deal, saying that the US can export their ethanol tariff-free into the UK. This makes the climate "significantly worse" for ABF's bioethanol business Vivergo. "ABF has engaged in extensive discussions with the government to find a financial and regulatory solution that would enable Vivergo to operate on a profitable and sustainable basis," ABF said. It said the government has now committed to formal negotiations to reach a sustainable solution, recognising the strategic importance of a domestic ethanol supply. However, Vivergo is nonetheless beginning consultation with employees to effect an orderly wind-down. Regarding its sugar business, ABF said high rainfall has caused a slow start to its processing season in Africa, but that guidance remains unchanged as production is running at elevated levels to recover some of the initial shortfall. ---------- COMPANIES - FTSE 250 ---------- Moonpig for the year ended April 30 reported pretax profit of GBP3.0 million, down 94% from GBP46.4 million the year before. Revenue however rose 2.6% to GBP350.1 million from GBP341.1 million. Adjusted pretax profit was GBP67.5 million, up 16% from GBP58.2 million. The proposed full-year dividend is 3.0 pence per share, with the board recommending a final dividend of 2.0p. Moonpig said it expects to make GBP60.0 million in share buybacks during financial 2026. It also expects mid-single-digit growth in adjusted Ebitda, and 8% to 12% growth in adjusted earnings per share. Moonpig also announced that CEO Nickyl Raithatha is to step down after seven years in the post. His notice period has a duration of 12 months, and Moonpig has started the search for his successor. ---------- Serco for its first half year reported revenue of around GBP2.4 billion, up 2% on-year. Underlying operating profit totals at least GBP140 million, with a continued strong margin of around 5.9%. Serco also said its order intake is very strong with around GBP3 billion of contract awards, with orders highly weighted towards the defence sector. Looking ahead, Serco expects full-year organic revenue growth to improve to around 1% due to higher than anticipated activity levels in the immigration sector, with revenue totalling around GBP4.8 billion to GBP4.9 billion. Underlying operating profit guidance of around GBP260 million is unchanged. Also, Serco announced the appointment of Keith Williams as chair designate, succeeding current Chair John Rishton. Williams, who was previously chair of International Distribution Services, will join the board on August 1 and become chair from January 1. ---------- OTHER COMPANIES ---------- Inspired has accepted a GBP183.6 million takeover offer, and withdrawn its final dividend. Inspired shareholders will, under the terms of the offer from funds managed or advised by HGGC LLC and affiliates, be entitled to receive 81 pence in cash per share, which is 6.0% higher than the share price close of 76.40p on Wednesday. This values the entire issued and to be issued share capital of Inspired at approximately GBP183.6 million on a fully diluted basis. "While Inspired has made progress to date, HGGC believes that further strategic focus and investment will be needed to fully unlock its potential," Inspired said. "HGGC believes that a majority-control ownership structure offers the most effective platform for this transformation given the ability to focus on long-term strategic goals...For example, Inspired could make targeted investments and pursue mergers and acquisitions to better position itself to capture its growth opportunity." |
Posted at 25/6/2025 12:01 by master rsi GGP - Macquarie Initiates Coverage on Greatland Resources - Motley Fool Australia"Macquarie's view on Greatland Resources shares Following the completion of Greatland Resources shares on the ASX, Macquarie has initiated coverage of the AU shares with a target price of $7.80 per share and an outperform rating, the broker wrote in a note to investors today. "We note the stock has performed strongly on its first day of trading on the ASX, up 11% to A$7.30/sh from its opening/placement price of A$6.60/sh, with potential momentum to be driven by Australian institutional investor interest, broadened Australia-based brokerage, and potential inclusion in major indices," the note said. The broker sees additional value in the stock too. In the note, Macquarie states that the current outlook and target price does "not yet include the Havieron expansion to 4.5Mtpa". The Havieron gold-copper mine project expansion is expected as part of the company's feasibility study due in the fourth quarter of 2025. It is expected to be a fundamental driver of share price growth. The broker also notes that movements in commodity prices present the most significant risk (both upside and downside) to its earnings forecast and valuation of Greatland Resources. Its coverage is also based on assumptions within its forecasts for production, capital expenditure, and operating costs, in addition to exchange rates. This means any variances also present material risks, both to the upside and downside, to earnings forecasts, and valuation. The broker also notes that its operational outlook for GGP assumes incremental life extensions at Telfer as well as the timely development of Havieron." |
Posted at 24/6/2025 09:53 by master rsi GGP 325p -25p ( the UT yesterday was 350p but spreead was 325 v 330p )Market Makers are playing a few games at the moment spread 320 v 330p prices paid sell 326.95p buy 328p NOTE: at Australia finished $7.300 +$0.699. On the 1st day of trading - Iqual to 349p ----------------- Canaccord note - "Trading strength post listing Greatland has successfully completed its corporate reorganisation, which included a name change to Greatland Resources Limited (previously Greatland Gold Plc), change in primary listing to the ASX (while maintaining a secondary London listing), and a 20:1 share consolidation. The share price rose +11% in its first day trading in Australia. Changes: We have reflected the name change and new ticker (GGP-ASX), and recalculated our target price based on the new share count (~671m shares now outstanding), now 582p/A$12.10 (previously 29p). Maintain BUY rating. Outlook: We now look to the JunQ'25 release (expected July), where we expect the company to report ~83 koz of production and ~A$120m in free cash flow for the quarter. Beyond this, we see the following potential catalysts: • Index inclusion (ASX200/300, potential GDX inclusion; from September) • Telfer life extension options (ongoing, see our recent site visit report for more detail) • Havieron feasibility study (December 2025)" |
Posted at 23/6/2025 22:11 by master rsi MARKET REPORTLONDON 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. |
Posted at 23/6/2025 12:51 by master rsi MARKET REPORTLONDON 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. |
Posted at 19/6/2025 22:00 by master rsi MARKET REPORTLONDON MARKET CLOSE: Stocks dip amid BoE hold and Iran escalation fear (Alliance News) - London's FTSE 100 closed lower on Thursday, amid ongoing Middle East concerns, after the Bank of England left interest rates unchanged at 4.25%. The FTSE 100 index closed down 51.67 points, 0.6%, at 8,791.80. The FTSE 250 ended 216.27 points lower, 1.0%, at 21,073.99, and the AIM All-Share fell 5.17 points, 0.7%, at 758.19. The London Stock Exchange celebrated the 30th anniversary of AIM on Thursday, calling it a "cornerstone" of the UK's capital markets. Since its launch in 1995, AIM has become one of the world’s most successful growth markets, helping over 4,000 companies raise more than GBP136 billion. The Cboe UK 100 closed down 0.7% at 875.37, the Cboe UK 250 ended 1.0% lower at 18,616.57, but the Cboe Small Companies rose 0.5% at 17,008.95. The decision to hold rates by the BoE's Monetary Policy Committee was widely expected, although the vote split was slightly more dovish than forecast. The MPC voted 6-3 for the status quo, with Swati Dhingra, BoE Deputy Governor Dave Ramsden and Alan Taylor preferring a 25 basis point rate cut to 4.00%. The BoE said there remain "two-sided" risks to inflation meaning "a gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriate." The BoE noted loftier food prices could raise "inflation expectations, impacting wage and price setting behaviours". Bank of England Governor Andrew Bailey said interest rates remain on a "gradual downward path." Ebury analyst Matthew Ryan noted the vote split on was "slightly more dovish than markets had anticipated". "Yet, the BoE still appears to be in no hurry to speed up the pace of policy loosening. Importantly for markets, the phrase that cuts will be both 'gradual and careful' was retained in the statement - there was some speculation that this could be either tweaked or jettisoned," Ryan said. ING noted past experience has shown that the vote split contains few useful signals. "December's meeting saw a similar 6-3 vote, yet heralded little change in the bank's overall stance," ING explained. ING said 'rate hawks' will have a beady eye on oil prices. A "serious spike in oil prices is the most obvious hawkish risk for the UK rate outlook," ING said. Nonetheless, ING expects the BoE to cut interest rates in August. The oil price rose again amid concerns the situation in the Middle East could worsen. Brent oil traded higher at USD78.59 a barrel late on Thursday from USD75.06 on Wednesday as the Israel-Iran conflict continued. The oil price rise boosted oil majors and FTSE 100 heavyweights BP and Shell which rose 1.4% and 1.1% respectively but weighed on British Airways owner, IAG, down 3.2% and low-cost airline easyJet, down 3.0%, on concerns of rising fuel costs and travel disruption. Israel's defence minister Israel Katz said that Iran’s Supreme Leader Ayatollah Ali Khamenei cannot "continue to exist", just days after reports that Washington vetoed Israeli plans to assassinate him, AFP reported. "Khamenei openly declares that he wants Israel destroyed – he personally gives the order to fire on hospitals," Katz told journalists in the city of Holon near Tel Aviv. "Such a man can no longer be allowed to exist." US President Donald Trump wrote on Tuesday that the US knew Khamenei's location but would not kill him "for now". Uncertainty surrounds Trump's next move amid reports that the US stands ready to intervene in the conflict. Bloomberg on Thursday reported senior US officials are preparing for the possibility of a strike on Iran in coming days. In European equities on Thursday, the CAC 40 in Paris closed down 1.1%, as did the DAX 40 in Frankfurt. Financial markets in the US were closed to mark Juneteenth National Independence Day. On Wednesday, the Federal Reserve left interest rates unchanged. In a unanimous vote, the Federal Open Market Committee voted to maintain the target range for the federal funds rate at 4.25-4.50%, the fourth consecutive hold. In a statement, the FOMC said: "Uncertainty about the economic outlook has diminished but remains elevated." Fed Chair Jerome Powell said the US central bank is well placed to adjust policy as it continues to assess the impact of US trade policy on the economy. Powell said the Fed expects a "meaningful" amount of inflation in the coming months and stressed it is important to make sure a "one-time increase in inflation doesn't turn into an inflation problem". In the accompanying summary of economic projections, Fed officials predicted two more 25 basis points rate cut in 2025, unchanged from March. In 2026 and 2027, FOMC officials expect one further cut, toning down its projections in March for two reductions in each year. The FOMC cut its forecast for economic growth in 2025 to 1.4% from 1.7% in March. Core PCE inflation, the Fed's preferred inflation measure, is now seen at 3.1% in 2025, up from the 2.8% predicted in March. The pound was quoted down at USD1.3429 at the time of the London equities close on Thursday, compared to USD1.3472 on Wednesday. The euro stood lower at USD1.1468 against USD1.1526. Against the yen, the dollar was trading at JPY145.65, up compared to JPY144.65. On the FTSE 100, fears the Middle East conflict will lead to higher inflation and slower economic growth weighed on mining stocks. Anglo American fell 3.3%, Antofagasta declined 3.4% and Rio Tinto dipped 2.5%. Whitbread fell 1.6% after reporting total group sales fell by 3.8% to GBP710.9 million in the 13 weeks that ended May 29, the first quarter of its financial year, from GBP739.2 million a year prior, or by 1% on a like-for-like basis. Total UK sales were down 5.4% to GBP648.2 million from GBP685.2 million. Accommodation sales fell 1.8% to GBP485.0 million from GBP494.1 million, while food and beverage revenue sales dropped 15% to GBP163.2 million from GBP191.0 million. UK revenue per available room fell 2.4% to GBP62 in the quarter from GBP63.54 a year ago. On the FTSE 250, Hays plunged 10% after saying it expects annual profit to be below market consensus, as the staffing firm grapples with challenging market conditions. AJ Bell's Russ Mould said the share price slump implies the jobs market is going from bad to worse. "Companies are clearly worried about the economic outlook and they’re reluctant to take on full-time staff, potentially not replacing anyone lost to natural turnover. At the same time, individuals are worried that if they move job they’ll be in the ‘last in, first out’ firing line if companies look for new cost savings," he added. Hays said permanent recruitment markets have been particularly hurt, amid "low levels of client and candidate confidence". Simon Lechipre, analyst at Jefferies, said the weaker than expected performance is particularly negative for Page Group where permanent recruitment makes up 72% of group fees. Shares in PageGroup fell 8.8% while Robert Walters dropped 4.8%. Hays expects annual pre-exceptional operating profit of GBP45 million, below company-compiled consensus of GBP56.4 million. The yield on the US 10-year Treasury was quoted at 4.39%, stretched from 4.36%. The yield on the US 30-year Treasury was quoted at 4.89%, widened from 4.86%. Gold was quoted lower at USD3,368.94 an ounce against USD3,387.84. The biggest risers on the FTSE 100 were Melrose Industries, up 13.70 pence at 499.90p, BP, up 5.50p at 392.00p, Bunzl, up 28.00p at 2,250.00p, Shell, up 28.50p at 2,695.50p, and Vodafone, up 0.68p at 75.92p. The biggest fallers on the FTSE 100 were Persimmon, down 50.00p at 1,317.00p, Antofagasta, down 60.00p at 1,699.00p, Anglo American, down 68.50p at 2,021.50p, IAG, down 10.20p at 309.30p and Airtel Africa, down 5.40p, at 171.20p. Housebuilder Persimmon's fall came as it traded ex-dividend. Friday's global economic calendar has retail sales and PPI data in Canada, inflation figures in Japan, UK retail sales numbers and the Philadelphia Fed manufacturing index. The domestic corporate calendar on Friday has full-year results from housebuilder Berkeley Group. |
Posted at 18/6/2025 15:11 by master rsi Buckthorn Partners, One Equity abandon pursuit of Renold(Sharecast News) - A consortium of private equity firms Buckthorn Partners and One Equity said on Wednesday that they were not planning to make a firm offer for AIM-listed industrial chain maker Renold. The company announced last Friday that it had agreed to be bought by MPE - the owner of Webster Industries - in a £186.7m deal. The price of 82p per share in cash represents a 50% premium to the closing share price of Renold on 19 May, which was the last business day prior to the start of the offer period. Renold chairman David Landless said at the time: "Renold is a leading designer, engineer, manufacturer and supplier of premium, high specification industrial chain and torque transmission products with a large number of international customers, across a broad range of industrial power transmission and conveyor system markets. "The Renold board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly." Renold announced in May that it had received two separate unsolicited proposals, one from the consortium and one from MPE. The consortium's proposal at the time was 81p per share, while Webster's was 77p a share and each followed several previous proposals. At 1505 BST, Renold shares were down 3.3% at 82p. |
Posted at 18/6/2025 10:44 by master rsi UK house price growth halves as buyers reach stamp duty cliff edge(Alliance News) - The annual rate of house price growth in the UK halved as a stamp duty holiday ended, according to Office for National Statistics, ONS, figures. The average UK house price increased by 3.5% in the 12 months to April, halving from 7.0% annual growth recorded in March this year. Stamp duty discounts became less generous for some home buyers from April. Stamp duty applies in England and Northern Ireland. The report said: "This is the first slowing of UK annual house price inflation since December 2023. This was caused by a price fall between March 2025 and April 2025, which coincided with stamp duty land tax [SDLT] changes." Average house prices increased to GBP286,000 [3.0% annual growth] in England, GBP210,000 [5.3%] in Wales, and GBP191,000 [5.8%] in Scotland in the 12 months to April 2025. The average house price for Northern Ireland was GBP185,000 in the first quarter of 2025 – a 9.5% increase annually. Within England, the North East had the highest house price inflation in the 12 months to April, at 6.4% – although this was a significant slowdown from 15.3% in the 12 months to March. Annual house price inflation was lowest in England in the South West, at 0.9% in the 12 months to April, reducing from 5.9% in the 12 months to March. London was the only English region where the house price annual inflation rate was higher in April [3.3%] than in March [0.9%]. ONS head of housing market indices Aimee North said: "UK annual house price inflation slowed in April, following changes to stamp duty land tax in England and Northern Ireland. The average home in the UK now costs around GBP265,000. "The North East once again showed the highest annual increase, and the South West showed the lowest annual growth. London was the only English region where annual inflation rose this month. "The rental market continues to cool, with the fifth month of slowing average annual growth across the UK. Private rent prices in Scotland grew at their slowest annual pace in three years." The figures were released on the same day that the ONS said that the rate of Consumer Prices Index [CPI] inflation was 3.4% in May. Many economists had been expecting the CPI rate to come in at 3.3% for the month. Meanwhile, the average private rent in the UK was GBP1,339 per month in May 2025, according to ONS figures. This was 7.0% or GBP87 higher than 12 months ago. The average rent for England was GBP1,394 in May – a 7.1% [GBP92] annual increase. In Wales, rents averaged GBP799 in May, up by 8.5% [GBP63] compared with a year earlier. The average rent in Scotland was GBP999 in May 2025. This was an increase of 4.5% [GBP43] compared with a year earlier. The ONS said that Northern Ireland private rents figures are only available up to March 2025. The average rent in Northern Ireland was GBP848 in March 2025. This was up by 7.7% [GBP61] annually. Jonathan Handford, managing director at estate agent group Fine & Country, said: "While the recent [Bank of England base] rate cut offered a degree of financial relief, elevated borrowing costs are still dampening activity, particularly at the more affordable end of the market. Transaction levels also remain subdued, highlighting the property sector's sensitivity to economic signals and household finances." Tom Bill, head of UK residential research at Knight Frank said: "The UK housing market is still in recovery mode after the stamp duty cliff edge in April but prices are being kept firmly in check by an overhang of supply. "We don't expect a rate cut before August but the weak state of the UK economy is putting downwards pressure on mortgage rates, which should support demand in the short-term." Kevin Roberts, managing director, mortgage services, L&G highlighted a recent wave of innovative mortgage products. He said: "Our broker data shows that first-time buyers are particularly active, accounting for nearly 60% of purchases since the start of the year." Jeremy Leaf, a north London estate agent said rent rises "are supported by lack of stock and urgent need for accommodation from tenants who are finding lack of choice hard to deal with". Sarah Coles, head of personal finance, Hargreaves Lansdown said: "For anyone hoping to get onto the property ladder, there's little hope that property prices will fall to make your life easier. "It means it's worth investigating any help you can get – whether that's the government bonus from the Lifetime Isa, a family mortgage, or more help from the bank of mum and dad." Richard Donnell, executive director of research at Zoopla said: "We expect the rate of rental inflation to slow in the coming months which will be welcome news for renters. Rental inflation for those taking new tenancies are rising at their slowest rate for four years. "The big decline in the rate of house price inflation reflects the ending of the stamp duty holiday which is now filtering through into slower price growth. "We expect the rate of price growth to slow further over 2025 as home buyers face a large choice of homes for sale which will support a buyers market. Home prices in the Midlands, northern England and Scotland will continue to rise more quickly than across southern England where affordability is a drag on price rises." |
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