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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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| 18/4/2024 | 23:59 | SHARES STRONGLY UP during APRIL 2024 | 386 |
| 02/4/2024 | 08:43 | SHARES STRONGLY UP during March 2024 | 567 |
| 29/2/2024 | 23:08 | SHARES STRONGLY UP during February 2024 | 670 |
| 31/1/2024 | 22:24 | SHARES STRONGLY UP during January 2024 | 656 |
| 01/1/2024 | 20:09 | SHARES STRONGLY UP during December 2023 | 551 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 18/4/2024 12:46 by master rsi MARKET REPORTLONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook (Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks. Stocks in New York are called to open higher, reclaiming back some of the losses suffered on Wednesday. The FTSE 100 index was 14.38 points higher, 0.2%, at 7,862.37. The FTSE 250 was up 63.75 points, 0.3%, at 19,403.89. The AIM All-Share was up 0.59 of a point, 0.1%, at 743.71. The Cboe UK 100 was a touch higher at 785.28, the Cboe UK 250 was up 0.1% at 16,800.79, and the Cboe Small Companies was down 0.1% at 14,764.93. Against the dollar, sterling rose to USD1.2479 early Thursday afternoon, from USD1.2447 late Wednesday. The euro was up at USD1.0677, from USD1.0637. Against the yen, the buck bought JPY154.39, down from JPY154.67. In New York, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, are all called 0.3% higher on Thursday. "The risk on sentiment being felt today has helped drive the dollar lower, following a period of gains that saw the greenback reach a five-month high yesterday. What has been notable over recent months has been the outperformance of European indices compared with their US counterparts, as their lofty valuations bring greater profit taking. The Federal Reserve are facing elevated inflation pressures and a solid economy, raising the likeliness of a divergence this year as European central banks cut rates ahead of their US counterparts," Scope Markets analyst Joshua Mahony commented. "Market sentiment appears to be heavily entrenched with the trajectory of crude oil, with the slump in oil prices helping to lift sentiment today. While oil is priced in dollars, the classic inverse relationship has switched of late to reflect the concern that higher oil prices will spur a second wave of inflation." A barrel of Brent oil slumped to USD86.27 early Thursday afternoon from USD88.68 late Wednesday. The weaker oil price sent BP and Shell 1.6% and 0.9% lower in London on Thursday. In European equities on Thursday, the CAC 40 in Paris rose 0.4% and the DAX 40 in Frankfurt was flat. Share price falls for Rheinmetall and Sartorius hurt the DAX. Arms and automotive manufacturer Rheinmetall lost 4.1%. Fellow defence firm BAE Systems fell 2.8% in London. Shares in the duo have enjoyed a rip-roaring gain over the past two years, on the expectation that there will be a rise in military spending amid intensifying geopolitical tensions. Sartorius plunged 12%. The laboratory equipment supplier said net profit in the first-quarter of 2024 totalled EUR36.7 million, down 61% from EUR93.1 million in the first quarter of 2023. In London, easyJet shares rose 2.2%. It reported a "positive outlook" for the remainder of its financial year, and said its "seasonal" losses eased in the first half. Sales amounted to EUR819.6 million in the quarter, down 9.3% from EUR903.2 million a year prior. In the six months to March 31, revenue surged 22% to GBP3.27 billion from GBP2.69 billion. Its headline pretax loss slimmed to GBP350 million from GBP411 million. "Easter demand was particularly strong, benefitting March due to its early timing. Operational performance was good with peak daily flights broadly in line with summer levels," it said. "Bookings for summer 2024 continue to build well, with an increase in volume and pricing compared to the same period last year, underpinned by strong demand for easyJet's primary airport network." Chief Executive Johan Lundgren said the firm is "well set up operationally" for the upcoming summer season. Shares in British Airways parent International Consolidated Airlines Group added 4.0% in a positive read-across. Budget carrier Wizz Air rose 5.3%. Hipgnosis Songs Fund jumped 30% to 91.66 pence. It has agreed to a USD1.40 billion cash takeover from music rights acquirer Alchemy Copyrights, which trades as Concord. Concord will pay USD1.16, or 93.2 pence, in cash per Hipgnosis Songs Fund share. The price is a 32% premium to its Wednesday close. Concord said Higpnosis Songs Fund shareholders will stand to receive up to an extra USD25 million in total, if the investment adviser deal with Hipgnosis Song Management is ended. Hipgnosis Songs Fund is in dispute with its investment adviser, alleging misconduct against Hipgnosis Songs Management and its founder Merck Mercuriadis. The dispute was sparked by an arrangement, later rejected by Hipgnosis Songs Fund shareholders, to sell part of the fund's portfolio to a joint-venture between Hipgnosis Songs Management and private equity firm Blackstone. This triggered board changes at the fund. AJ Bell analyst Russ Mould commented: "An end is in sight for one of the most chaotic events to unfold in the world of investment trusts for years. After much hype led to great disappointment, soundtracked by questionable corporate governance, Hipgnosis Songs Fund is now the recipient of a takeover bid from Concord. This might be the final chapter in the trust's life as a listed entity, one that's been filled with many dud notes. "Whether it will be a smooth exit is another thing. It's worth noting that chairman Robert Naylor has pleaded with the trust's investment adviser Hipgnosis Songs Management and HSM's majority owner Blackstone to agree an orderly termination of the investment advisory agreement." Elsewhere in London, LBG Media, which owns the Ladbible news and entertainment and viral video site, shot up 12%. It hailed a positive outlook in the US. It said revenue in 2023 rose 7.5% to GBP67.5 million from GBP62.8 million in 2022. Its pretax profit, however, fell 19% to GBP5.9 million from GBP7.3 million. LBG added: "Our positive revenue momentum and platform for growth in the US leaves the group at a significant juncture in its evolution and provides a clear line of sight to achieving GBP200 million of revenue. We have made a good start to 2024, entering our second quarter with positive momentum." Jubilee Metals fell 6.0%. It said it delivered an "exceptional" performance in the first nine months of its financial year, though its platinum output declined and it cut its copper production outlook. Platinum group metals production dropped 18% to 8,339 ounces quarter-on-quarter in the third quarter to March 31, from 10,131 ounces, mainly due to a reduction in available stock of lower-grade feed material, Jubilee said. Nine-month PGM production was 3.6% lower at 28,583 ounces, compared to 29,645 ounces. Chrome production rose 7.2% to 408,710 tonnes for the third quarter, from 381,114 tonnes in the second. For the nine months that ended March 31, chrome concentrate output jumped 19% to reach 1.1 million tonnes. Copper production declined 8.4% to 691 tonnes in the third quarter from 749 tonnes in the second, but it surged 69% to 2,374 tonnes in the nine months from 1,409 tonnes a year before. Jubilee revised down its copper production guidance to between 3,250 and 4,000 tonnes, from 5,850 predicted previously. For 2023, copper production was 2,923 tonnes. Still to come on Thursday is a US initial jobless claims reading at 1330 BST. Gold traded at USD2,382.63 an ounce midday Thursday, down ever-so-slightly from USD2,383.47 at the London equities close on Wednesday. |
Posted at 12/4/2024 22:23 by master rsi MARKET REPORTLONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere (Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle. The FTSE 100 index ended up 71.78 points, 0.9%, at 7,995.58, closing below the 8,000 point mark despite approaching its best-ever level earlier in the day. The FTSE 250 shed 65.63 points, 0.3%, at 19,721.24, and the AIM All-Share lost 2.92 points, 0.4%, at 755.91. For the week, the FTSE 100 added 1.1%, the FTSE 250 barely budged, while the AIM All-Share climbed 2.1%. The Cboe UK 100 added 1.0% to 799.46 on Friday, the Cboe UK 250 fell 0.5% to 17,126.64, and the Cboe Small Companies climbed 0.6% to 14,862.69. In European equities on Friday, the CAC 40 in Paris lost 0.2% and the DAX 40 in Frankfurt fell 0.1%. In New York, the Dow Jones Industrial Average was down 0.8%, the S&P 500 0.9% lower, and Nasdaq Composite giving back 1.0%. Share price rises for miners helped the FTSE 100 find its groove, while peers across the Atlantic in mainland Europe struggled. Gold producer Fresnillo surged 7.6%, tracking bullion prices higher. Gold was quoted at USD2,396.43 an ounce late Friday, higher against USD2,338.05 on Thursday. Gold was not alone in shining. Base metals prices were also on the up, as was oil. This pushed shares in miners Glencore and Anglo American up 5.1% and 3.7%, and oil majors Shell and BP up 2.6% and 3.7%. Brent oil was quoted at USD91.05 a barrel late on Friday afternoon in London, up from USD89.94 late Thursday. Rising global tensions boosted oil prices. Iran's threats of reprisals against Israel after a strike in Syria this month that killed two Iranian generals remain "real" and "viable," the White House said on Friday. "We still deem the potential threat by Iran here to be real, to be viable," National Security Council spokesman John Kirby told reporters. Defence Minister Yoav Gallant said Friday that Israel and the US were "shoulder to shoulder" in facing the threat from Iran, after talks with US Central Command chief Michael Kurilla. "Our enemies think that they can pull apart Israel and the US, but the opposite is true – they are bringing us together and strengthening our ties", Gallant said in a statement, after the two discussed Iran's threats of retaliation for a deadly air strike on its consulate in Syria widely blamed on Israel. Rising tensions hurt shares in airlines. easyJet lost 1.9% and British Airways parent International Consolidated Airlines Group fell 3.8%. The dollar was largely higher in the world of foreign exchange, though the threat of currency intervention supported the yen. The pound fell to USD1.2451 late Friday afternoon in London, down from USD1.2513 at the equities close on Thursday. The euro stood at USD1.0643, lower against USD1.0705. Against the yen, the dollar was trading at JPY153.09, falling from JPY153.30. Sterling traded below the USD1.25 mark for the first time since November. The euro was around its lowest level since November. Analysts at ING said the red-hot US consumer price index report on Wednesday "was the trigger to a substantial dollar rally". A "dovish shift" by the European Central Bank and Bank of Canada "has now made that rally more sustainable", the Dutch bank believes. "Both banks have given a nod to market bets for a rate cut in June, and rightly so given the considerably more encouraging domestic inflation outlook than in the US. As things stand now, the Federal Reserve looks unlikely to match that same dovishness, and the case for a growing divergence between an immobile FOMC and a bunch of dovish central banks is getting stronger," analysts at ING commented. The pound fell on the greenback despite data suggesting the UK is out of recession. According to the Office for National Statistics, UK gross domestic product rose by 0.1% in February from January, in line with FXStreet cited consensus. UK GDP had expanded 0.3% on-month in January, according to revised data. Back in London, Huddled Group rose 7.7% after the investor in e-commerce brands said it will acquire Food Circle Supermarket for up to GBP300,000. Food Circle is an online retailer based in Dinnington, South Yorkshire. In 2023, it delivered revenue of around GBP1.4 million. According to Huddled, the acquisition is complementary to its Discount Dragon business and is "the next step in the group's strategy to build a portfolio of e-commerce brands". Bens Creek plummeted 24% after it reported that it has laid off 44 employees. The owner and operator of metallurgical coal mines across North America said that the move is due to "the depressed metallurgical coal price", as well as "financial constraints at the company and production difficulties", at its mining project in West Virginia. Bens Creek added that the mine will be operated on a care and maintenance basis for the time being. Bens Creek added that lower coal prices and interruptions in production at the mine in West Virginia had put a strain on the company's cashflow in the first months of 2024. Monday's economic calendar has a eurozone industrial production reading at 1000 BST, before US retail sales data at 1330 BST. The UK corporate calendar has a trading statement from emerging markets-focused investment manager Ashmore Group. |
Posted at 11/4/2024 22:29 by master rsi MARKET REPORTLONDON MARKET CLOSE: Dwindling US Fed cut hope unnerves markets (Alliance News) - Stock prices in London closed lower on Thursday, with a hawkish interest rate outlook for the Federal Reserve and geopolitical tensions hurting investor enthusiasm. Elsewhere in the central banking space, the European Central Bank appeared to lay the groundwork for a June rate cut, while a UK rate setter said the Bank of England is "way off" easing bank rates. The FTSE 100 index ended down 37.41 points, 0.5%, at 7,923.80. The FTSE 250 lost 14.88 points, 0.1%, at 19,786.87, though the AIM All-Share added 3.64 points, 0.5%, at 758.83. The Cboe UK 100 ended down 0.5% at 791.95, the Cboe UK 250 rose 0.1% to 17,220.35, and the Cboe Small Companies added 0.2% to 14,770.34. In European equities on Thursday, the CAC 40 in Paris ended down 0.3%, while the DAX 40 in Frankfurt fell 0.8%. The pound was quoted at USD1.2513 late Thursday afternoon in London, down compared to USD1.2546 at the equities close on Wednesday. The euro stood at USD1.0705, lower against USD1.0743. It had traded just below USD1.07 at one point, a year-to-date low. Against the yen, the dollar was trading at JPY153.30, up compared to JPY152.88. The European Central Bank remains on course to lower interest rates at its June meeting. The ECB left its key interest rates unchanged, as widely expected, but policymakers said they will cut rates should they gain confidence that inflation is falling to the bank's 2% target. European Central Bank President Christine Lagarde again affirmed a "data dependent" approach to interest rate decisions, but did add that some in the Governing Council already have the confidence to cut. Lagarde said in a post-decision press conference: "A few members felt sufficiently confident [to cut interest rates], on the basis of the limited data that we received in April." However, they then "rallied to the consensus" of the large majority of euro area monetary policymakers. ING analysts commented: "During the press conference, ECB President Christine Lagarde repeatedly stressed the hint at upcoming rate cuts mentioned above – but she also added that the ECB was not pre-committing to any path for policy rates. At the same time, Lagarde also mentioned that few ECB members had already been in favour of a rate cut today. Today's meeting marked another step in the very gradual transition of the ECB's communication since December from hawkish to dovish, even if it was probably the mildest shift. "The ECB clearly opted against giving more explicit guidance for a June cut. This reluctance to be more outspoken – combined with the fact that some ECB members were already in favour of a rate cut today – implies a higher degree of disagreement within the central bank. It seems as if at least some ECB members fear that still high services inflation and the recent surge in oil prices, as well as wage developments in Germany, suggest that there still is a considerable risk of inflation re-accelerating." The aftermath of Wednesday's robust US consumer price inflation was still reverberating in European equities, though US tech shares were higher in mixed trade on Wall Street. The Dow Jones Industrial Average was down 0.6% at the time of the London equities close, the S&P 500 fell 0.1%, though the Nasdaq Composite added 0.3%. On Wednesday, the Bureau of Labor Statistics reported that the year-on-year rate of consumer price inflation picked up to 3.5% last month, from 3.2% in February, taking it further above the Fed's 2% inflation target. The rate of consumer price inflation had been expected to pick up to just 3.4%, according to FXStreet cited consensus. The rate of inflation is now at its most lofty since September. Thursday's US producer price data was less robust, but did pick up. US producer price growth accelerated to 2.1% year-on-year in March, from 1.6% in February. Berenberg analyst Holger Schmieding noted a "growing gap" between the ECB and Fed. "The eurozone needs rate cuts, the US economy does not as long as the pre-election fiscal expansion neutralises the impact of high Fed rates," Schmieding added. Elsewhere, Bank of England rate setter Megan Greene said interest rate cuts "should still be a way off" in the UK, predicting that the "last mile" in getting inflation down "may prove the hardest". Greene, one of the more hawkish members of the BoE's monetary policy committee, argued in the Financial Times that investors had underestimated the risk that inflation would remain high for longer in the UK than in other advanced economies. In London, shares in airlines slumped amid rising global tensions. British Airways parent International Consolidated Airlines Group gave back 3.7%, budget carrier easyJet fell 3.6%. Israel was on alert Thursday after its arch foe Iran threatened reprisals over a strike in Syria this month that killed two Iranian generals, and as the war against Hamas ground on in Gaza. Days after Israel strengthened its air defences and paused leave for combat units, the US also warned of the risk of an attack by Iran or its allied groups at a time Middle East tensions have soared. Iran is "threatening to launch a significant attack on Israel," US President Joe Biden said Wednesday, pledging "ironclad" support for its top regional ally despite diplomatic tensions over Israel's military conduct in Gaza. Crude prices were higher than they were this time on Wednesday, though Brent remained a touch below USD90 a barrel. Brent oil was quoted at USD89.94 a barrel late in London on Thursday, up from USD89.31 late Wednesday. Gold was quoted at USD2,338.05 an ounce, up against USD2,334.91. Back in London, consumer goods firm Reckitt, lender Lloyds Banking Group and insurer Aviva fell 2.3%, 4.6% and 6.4%. The trio went ex-dividend, meaning new share buyers do not qualify for the latest payout. At the other end of the large cap index, AstraZeneca, once of its largest constituents, added 2.1%. It said it plans to increase its dividend by 7% in 2024, having left the payout flat last year. The Cambridge, England-based pharmaceutical company said the increase will be by 20 US cents to USD3.10 per share. For 2023, AstraZeneca had paid a total dividend of USD2.90, which was unchanged from 2022, despite skyrocketing profit on the back of lower sales costs. DIY retailer Kingfisher and engineering company Smiths rose 2.4% and 2.7%. Both were raised to 'buy' from 'hold' by HSBC. Elsewhere in London, Lok'n Store Group jumped 17% to 1,120.56 pence, after it accepted a takeover approach from Shurgard Self Storage that values the business at GBP378 million. The cash bid is worth 1,110 pence per Lok'n Store share, a 16% premium to the self-storage provider's closing price of 958p on Wednesday, and 2.3% above its all-time closing high of 1,085p in January 2022. Brussels-based Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, said the deal represented an "attractive opportunity" to accelerate its growth strategy and create value for shareholders. Lok'n Store said it considered the terms of the offer "fair and reasonable", and recommended shareholders accept the bid. Shurgard said that, as of Wednesday, it has received irrevocable undertakings to vote in favour of the deal for about 19% of Lok'nStore's shares. Friday's economic calendar has a UK gross domestic product reading and German inflation data at 0700 BST. In the local corporate diary, building materials company SigmaRoc reports a trading statement. Over in New York, the banking earnings season kicks off. Citigroup, JPMorgan Chase and Wells Fargo release first-quarter numbers. Asset manager BlackRock also reports. |
Posted at 09/4/2024 21:41 by master rsi MARKET REPORTLONDON MARKET CLOSE: Stocks struggle in nervy trade before US data (Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high. The FTSE 100 index ended down 8.68 points, 0.1%, at 7,934.79. The FTSE 250 ended down 91.23 points, 0.5%, at 19,763.35, while the AIM All-Share rose 2.15 points, 0.3%, at 750.98. The Cboe UK 100 ended down 0.2% at 792.86, the Cboe UK 250 fell 0.5% at 17,208.36, and the Cboe Small Companies finished up 0.5% at 14,760.33. The CAC 40 in Paris ended down 0.9%, while the DAX 40 in Frankfurt slumped 1.3%. In New York, the Dow Jones Industrial Average was down 0.4% at the time of the London equities close. The S&P 500 was 0.6% lower. The Nasdaq Composite gave back 0.5%. "In an otherwise quiet trading session without major economic data releases, investors sold stock indices as risk off sentiment dominated the agenda ahead of Wednesday's Federal Open Market Committee minutes and CPI print," IG analyst Axel Rudolph commented. Wednesday's US inflation data is expected to show the rate of year-on-year consumer price growth picked up to 3.4% last month, from 3.2% in February, according to FXStreet cited consensus. If the rate of consumer price inflation picks up by more than expected, it could mean the Federal Reserve will re-think its interest rate outlook. In its last set of economic projections, the dot-plot showed three rate cuts were still the best bet for 2023. The pound was quoted at USD1.2672 in London late Tuesday afternoon, higher compared to USD1.2652 at the equities close on Monday. The euro stood at USD1.0856, rising slightly against USD1.0854. Against the yen, the dollar was trading at JPY151.65, down compared to JPY151.82. Gold was quoted at USD2,347.44 an ounce, higher against USD2,330.93. Gold hit a new record high earlier Tuesday, above USD2,365 per ounce, before easing back. DHF Capital analyst Bas Kooijman commented: "Despite reaching peak levels, gold prices remain supported by solid demand, evidenced by rising net long positions. However, following its strong surge, gold could be exposed to price corrections over the short term in particular if Wednesday's US data comes in stronger than expected." Bank of America on Tuesday suggested the price of gold could hit USD3,000 an ounce. "Gold and silver are among our most preferred commodities, with the yellow metal pushed up by central banks, China investors and, increasingly, Western buyers on a confluence of macro factors, including an end to hiking cycles," BofA explained. The bank adjusted price targets for several London-listed mining stocks and upgraded its recommendation on Fresnillo. Shares in Fresnillo rose 4.0% on Tuesday. Brent oil was quoted at USD89.82 a barrel at the time of the London equities close on Tuesday, down from USD89.93 late Monday. More than six months into the war, Hamas said it was "studying" a new proposal for a temporary truce, taking some heat out of Crude prices. Nonetheless, shares in BP and Shell rose 1.3% and 0.8%. BP said it expects first quarter upstream production to be higher than the previous three-month period but cautioned lower prices would hurt performance elsewhere. The London-based oil and gas major said upstream production in the quarter ending March is expected to be higher compared to the prior quarter, with output higher in oil production & operations and slightly higher in gas & low carbon energy. But in the gas & low carbon energy segment, lower gas prices compared to the prior quarter are expected to have an adverse impact in the range of USD200 million to USD400 million, BP said. There is also expected to be an adverse impact of around USD200 million as a result of the devaluation of the Egyptian pound. In the oil production & operations segment, lower realizations compared to the prior quarter are expected to have an adverse impact in the range of USD300 million to USD600 million, BP commented. Analysts at Jefferies commented: "BP's first trading update suggests limited downside to consensus numbers (Bloomberg USD3 billion net income). Strong gas trading will address a key concern during the quarter, while strong oil trading provides a good uplift quarter-on-quarter. Key operational upsets in the quarter (Whiting, Freeport) seem to have caused a lower impact than feared." It was a tough day for defence stocks across Europe. BAE Systems fell 4.5% in London, the worst large-cap performer. In Frankfurt, Rheinmetall gave back 6.2%. Shares in the duo have enjoyed a rip-roaring gain over the past two years, on the expectation that there will be a rise in military spending amid intensifying geopolitical tensions. Elsewhere, ProCook shares rose 4.4%. The company predicted annual profit to be "marginally" ahead of market expectations, shaking off "subdued" economic conditions. The Gloucester-based kitchenware company reported revenue of GBP13.2 million for the fourth quarter for the year ended March 31, a rise of 4.8% on-year. It would mean full year revenue of GBP62.6 million, an increase of 0.4% from the previous year. ProCook said its fourth-quarter sales were in line with board expectations. It also noted "strong margin and cost discipline". It means it expects full-year underlying pretax profit to be between GBP500,000 and GBP1.0 million, which would top the current company-compiled consensus of GBP400,000, and represent a swing from a GBP200,000 loss in financial 2023. Tasty shares tumbled 17% as it announced a restructuring plan to combat "difficult recent trading conditions", and struck a GBP750,000 loan agreement to bolster its coffers and "stabilise the company" in 2024. It plans to close "20 loss-making sites". For the 53 weeks to December 31, Tasty expects to report revenue of GBP46.9 million, a 6.6% increase from the GBP44.0 million of revenue in the year prior. It expects to post a loss before interest, tax, depreciation and amortisation of GBP900,000 narrowing from a loss of GBP2.7 million. "The group has made reasonable progress since the year end and despite difficult recent trading conditions, management continue to navigate through challenging times to mitigate cost rises and lower trading performance," Tasty said. "The cost-of-living crisis, transportation strikes, and interest rate rises continued to significantly impact 2023 revenue and inflationary pressure on labour, food and utilities continue to adversely affect profitability. The group's financial performance has been inhibited by a tail of underperforming sites, despite efforts at improving operational performance." The loan agreement is with Will Roseff, a "high net worth investor" who is a shareholder in bet365. He is also a director at the gambling firm. Wednesday's economic calendar has the US inflation reading and Fed minutes at 1330 BST and 1900 BST. There is a producer price index reading from Japan overnight. The UK corporate calendar has annual results from grocer Tesco. |
Posted at 08/4/2024 21:58 by master rsi MARKET REPORTLONDON MARKET CLOSE: Miners and airlines in demand as FTSE 100 climbs (Alliance News) - Investors bought in London on Monday, as the FTSE 100 rose with gold hitting a new high before fading, airlines and miners were in demand, while Entain prospered on bid speculation. The FTSE 100 index closed up 32.31 points, 0.4%, at 7,943.47. The FTSE 250 ended up 128.64 points, 0.7%, at 19,854.58, and the AIM All-Share closed up 8.78 points, or 1.2%, at 748.83. The Cboe UK 100 ended up 0.5% at 794.13, the Cboe UK 250 closed up 0.8% at 17,288.54, and the Cboe Small Companies ended up 0.1% at 14,693.06. The brighter mood was reflected in Europe. The CAC 40 in Paris closed up 0.7% while the DAX 40 in Frankfurt climbed 0.8%. Across the pond, stocks in New York were mixed at the London equities close, with the DJIA slightly lower, the S&P 500 slightly higher, and the Nasdaq Composite up 0.1%. On Wednesday, US inflation figures will be released. The report is expected to show that the rate of US annual consumer price inflation picked up to 3.4% last month, from 3.2% in February, according to FXStreet cited consensus. Last Friday, strong jobs data tilted appeared to tilt the balance against a rate cut at June's FOMC meeting. According to the Bureau of Labor Statistics, nonfarm payroll employment rose by 303,000 in March, higher than the FXStreet-cited consensus of 200,000. The figure for February was revised down by 5,000, from 275,000 to 270,000 while January's total was adjusted upwards by 27,000, from 229,000 to 256,000. This means employment in January and February combined was 22,000 higher than previously reported. Nonetheless, the CME FedWatch tool places a 51% chance that interest rates will be lowered by 25 basis points in June, albeit lower when compared to 57% this time a week ago. The pound was quoted at USD1.2652 at the London equities close on Monday in London, up from USD1.2621 late Friday. The euro rose to USD1.0854 from USD1.0831. Against the yen, the dollar rose to JPY151.82 from JPY151.54. Gold hit a new record high on Monday, above USD2,350 per ounce before easing back. Gold was quoted at USD2,330.93 an ounce on Monday at the London equities close, up from USD2,325.89 late Friday. UBS thinks the gold price has further to run in 2024 despite its strong start to the year. UBS explained it had previously expected gold to rise to USD2,250 per ounce by the end of the year. "But it has rallied faster and more forcefully than our already bullish expectations," the broker noted. The Swiss bank increased its forecasts by USD250 per ounce, expecting gold to trade at USD2,300 per ounce in June and at USD2,500 per ounce at end-2024 and end-March 2025. The move in the price supported gold miners Fresnillo in the FTSE 100, which rose 2.6%, and Hochschild Mining, which led the FTSE 250 risers, up 5.4%. Other mining stocks prospered with Rio Tinto up 4.2%, Anglo American up 3.2% and Glencore up 1.9%. Elsewhere, in London's FTSE 100, Entain climbed 4.7% after The Sunday Times reported it was considering its options for a number of assets, reigniting bid speculation. The bookmaker, which owns Ladbrokes and Coral, has called on investment bank Moelis to help with a review of its brands, the report claimed. The future of "a whole range" of assets are under consideration, The Sunday Times reported, citing sources. The Sunday Times said that a number of buyout firms, including the likes of Apollo Global Management Inc and CVC Capital Partners, are watching on with interest. The latter already has a hand in the gambling market, as it owns German bookmaker Tipico. Entain has previously been the subject of failed bid attempts from MGM and Draftkings. DS Smith closed down 0.3%. Sky News reported International Paper is closing in on a formal GBP5 billion-plus bid for the paper and packaging group. A recommended offer from the US-based predator would still leave the door ajar for Mondi, DS Smith's London-listed rival, to trump the International Paper bid, Sky said. Both International Paper and Mondi have made all-share bid propositions for DS Smith. A barrel of Brent oil fetched USD89.93 at the London equities close on Friday, down from USD91.31 on Thursday. The respite in the oil price helped support shares in airlines easyJet, up 3.3%, and IAG, the owner of British Airways, up 2.3%, on hopes of lower fuel bills. easyJet was given an additional push by UBS which reiterated a 'buy' rating and raised its share price target to 850 pence each from 820p. In London's FTSE 250, shares in Currys gained 1.1% after The Sunday Times reported a shareholder has called on the consumer electronics seller to dispose of its mobile phone service division. Fund manager JO Hambro said Currys should sell ID Mobile, a business which provides monthly phone contracts, the report claimed. The Sunday Times said the division is valued at around GBP350 million. JO Hambro holds a 4.5% stake in Currys and is the eighth-largest shareholder in Currys, the newspaper noted. In March, Elliott Advisors announced it will not make an official bid for Currys, after having made a roughly GBP750 million proposal. JD.com, another potential bidder for Currys, also said it would not be making a bid. On AIM, Mirriad Advertising leapt 37%. The provider of in-content advertising technology struck a deal with TripleLift, an operator of supply-side digital advertising platform. As part of the pact, TripleLift will facilitate automated selling of Mirriad's in-content advertising inventory into leading media buying platforms such as Google's DV360. In Tuesday's UK corporate calendar, Imperial Brands releases a trading statement. The economic calendar week has consumer and producer price inflation data for the US out on Wednesday and Thursday respectively, while inflation figures for China and the latest European Central Bank interest rate decision are also out on Thursday. On Friday, German CPI is out, alongside UK gross domestic product data. |
Posted at 07/4/2024 10:00 by apotheki UPSBeacon Energy / LSE:BCE Share price = 0.0575 [mid] Reason: The upcoming SCHB-2 sidetrack operation. Beacon Energy has confirmed that the rig mobilisation is on track with the rig due to arrive on location in mid-April with the sidetrack operation scheduled to commence the following week. Now that we are in a new tax year as with other small caps Beacon Energy has all the potential to perform very well share price wise especially given the potentially extremely positive developments mentioned in paragraph one [plus see most recent RNS] Recommendation: Strong BUY [at these very low share price levels] |
Posted at 04/4/2024 12:47 by master rsi MARKET REPORTLONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves (Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell. The FTSE 100 index added 32.56 points, 0.4%, at 7,970.00. The FTSE 250 was up 57.98 points, 0.3%, at 19,811.62, and the AIM All-Share was up just 0.04 of a point to 742.12. The Cboe UK 100 was up 0.5% at 796.83, the Cboe UK 250 also rose 0.5% at 17,248.84, while the Cboe Small Companies was 0.1% higher at 14,675.84. The CAC 40 in Paris and the DAX 40 in Frankfurt both edged up 0.1%. Equities in New York are called to open higher. The Dow Jones Industrial Average is called up 0.2%, the S&P 500 up 0.3% and the Nasdaq Composite up 0.4%. Powell told a conference in California that the current risks to the US economy were "two-sided," with negative consequences for the economy if policymakers moved to cut rates too fast or too slow. "The risk, though, of moving too soon, really is...that inflation does move up," he said, adding that it "would be quite disruptive if we were to have to then come back in." But if the US economy continues to evolve as expected, most Fed participants still expect it will be "appropriate to begin lowering the policy rate at some point this year," he said. Eyes now turn to Friday's nonfarm payrolls reading, which is expected to show the pace of jobs growth eased to 200,000 in March, from 275,000 in February, according to FXStreet. Numbers on Wednesday from payroll processor ADP showed the US private sector added more jobs in March than a month earlier. Private sector employment increased by 184,000 jobs in March, rising from 155,000 in February. March's jobs growth topped the FXStreet cited consensus of 148,000. Still to come on Thursday, the latest US jobless claims reading is at 1330 BST. The pound was quoted at USD1.2662 early Thursday afternoon, up from USD1.2630 late Wednesday. The euro stood at USD1.0858, rising from USD1.0827. Against the yen, the dollar was unmoved at JPY151.72. BDSwiss analyst Daniel Takieddine commented: "The Japanese yen continued to trade sideways after reaching the lows recorded during the last two years and could remain subdued. FX traders could refrain from significant moves as they monitor signals regarding potential interventions by Japanese authorities to curb the yen's weakness. Hiroshi Watanabe, a former top currency diplomat, suggested that government action is unlikely unless the yen falls below 155 per dollar, which could leave some manoeuvring room for traders." While there was little impetus in yen trade, gold powered higher. Gold was quoted at USD2,292.62 on Thursday afternoon UK time, rising from USD2,286.90 at the time of the London equities close on Wednesday. It had spiked to USD2,304.89 earlier on Thursday. XTB analyst Kathleen Brooks commented: "The gold price appears to rally every time there is a rise in expectations of rate cuts from the Fed. We expect this theme to continue to drive the gold price in the near term, and the precious metal could be volatile as we move towards the non-farm payrolls report on Friday." Brent oil was quoted at USD89.19 midday Thursday, falling from USD89.69 at the London equities close on Wednesday. Brent had risen as high as USD89.95 on Wednesday, however. BP traded 0.3% lower in London on Thursday afternoon, while Shell added 0.4%. The duo have climbed 2.7% and 5.1% so far this week, on the back of robust Crude prices. Metal prices were also on the rise, AJ Bell analyst Russ Mould noted. "Miners were in demand as commodities prices continued to surge – an inflationary development which might provoke some nervousness about the fate of long-awaited interest rate cuts," Mould said. Anglo American added 3.2%, while Antofagasta climbed 3.0%. Both were among the best FTSE 100 performers. PageGroup surged 5.5%. UBS raised the recruiter to 'buy' from 'neutral'. CAB Payments jumped 12% after the cross-border payments and foreign exchange company's Dutch subsidiary secured a payment service provider licence with De Nederlandsche Bank. It means it will now be eligible to provide its services across the entire European Economic Area operating under the name of CAB Payments Europe. CAB Payments has had a rocky time since listing. A revenue growth warning knocked 72% off its value in a single day in October. Shares are down around two-thirds from the GBP3.35 initial public offering price, despite Thursday's lofty share price rise. AIM-listed Cirata fell 27%, as it reported annual results that were clouded by the possible fraud saga that hurt its reputation back when it was named WANdisco. The data analysis platform posted a decline in revenue and bemoaned a "seemingly endless series of 'whack-a-mole' challenges". Revenue in 2023 fell 31% to USD6.70 billion from USD9.69 billion. Its pretax loss widened to USD36.5 million from USD29.6 million. "As I reflect on the past year, it is clear that we have navigated through the most challenging period in our company's history," Chief Executive Officer Stephen Kelly said. The company added last year's events required "continuous firefighting". It almost collapsed in 2023 after the discovery of illegitimate purchase orders. As part of its effort to move on, the company changed its name to Cirata from WANdisco in early October. Cirata noted that it had been placed under 'watchlist' by some customers in March of last year, "leading to a pause in activities and the then embryonic sales pipeline coming to a standstill". Analysts at Stifel said the yearly results showed "some healthy signs of progress". "Better than expected cash was already announced at the trading update and today revenue is comfortably ahead of our estimate. This is coupled with costs that have reduced further providing continuity with our existing forecasts which we leave unchanged at this time. The company appears to have made meaningful progress, transforming itself into a more professional organisation and maintains its target of reaching run-rate cash flow breakeven in the current year, despite ongoing deal slippage and an understandable second-half weighted bookings expectation," Stifel added. |
Posted at 02/4/2024 11:17 by master rsi SMALL-CAP WINNERS & LOSERS: Renewi opens hard plastics sorting siteSMALL-CAP - WINNERS CMC Markets PLC, up 2.5% at 223.00 pence, 12-month range 86.90p-225.00p. The online trading firm's share price improves after RBC raises its price target for CMC Markets to 240p from 190p. RBC rates CMC Markets at 'outperform'. On Wednesday last week, CMC Markets raised its full-year outlook after a positive fourth quarter. In a trading update for the financial year ending March, the London-based online trading firm said it expects full-year net operating income to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. This would be up from GBP288.4 million in financial 2023. Following the strong trading performance seen in the third quarter, the positive momentum continued in the fourth quarter, CMC said. ---------- Renewi PLC, up 2.8% at 590.00p, 12-month range 446.50p-749.00p. The company which turns waste into recycled products opens a hard plastics sorting facility in Acht, Netherlands. It says the opening of the new facility advances its recycling efforts and solidifies its position as a leader in the sector and reducing reliance on traditional waste disposal methods. Renewi says: "The Acht facility showcases Renewi’s innovative approach towards future recycling processes and will help increase the company's recycling rate further. Renewi aims to expand partnerships with industry leaders and stakeholders, reaffirming its commitment to sustainability and helping leading the charge towards a waste-free future." SMALL-CAP - LOSERS Synthomer PLC, down 2.4% at 253.50p, 12-month range 14.44p-301.37p. The chemicals manufacturer's share price falls, despite Jefferies raising its price target for Synthomer to 220p from 130p. Jefferies rates Synthomer at 'hold'. Last month, Synthomer said its loss widened in 2023 as revenue dropped, but said it had been taking "decisive actions" for longer term growth. Revenue fell 15% to GBP1.97 billion in 2023 from GBP2.33 billion the year before, due to a reduction in volume and pass through of lower raw material input prices, the firm explained. Pretax loss widened significantly to GBP106.8 million from GBP34.2 million as a result. Looking ahead, Synthomer said trading since the start of 2024 had been "cautiously encouraging", due to short-term restocking by customers. |
Posted at 28/3/2024 11:42 by master rsi JOG 165.50p +15pJersey Oil & Gas (JOG LN) - Share price fall creates opportunity Zeus Capital - Daniel Slater, CFA - 28 Mar 2024 Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors..... more but needs signing in |
Posted at 27/3/2024 22:23 by master rsi MARKET REPORTLONDON MARKET CLOSE: FTSE 100 treads water ahead of US PCE data (Alliance News) - Stock prices in London closed slightly higher on Wednesday, as investors look firmly ahead to Friday's key inflation reading from the US. Amongst individual stocks, DS Smith rose on the back of takeover talks with International Paper. Diploma climbed, as shareholders were pleased with its GBP236 million acquisition. The FTSE 100 index closed up 1.02 points at 7,931.98. The FTSE 250 ended up 33.02 points, 0.2%, at 19,810.66, and the AIM All-Share closed up 2.59 points, 0.4%, at 742.11. The Cboe UK 100 ended down marginally at 793.08, the Cboe UK 250 closed up 0.3% at 17,225.15, and the Cboe Small Companies ended up 0.1% at 14,644.71. In European equities on Wednesday, the CAC 40 in Paris ended up 0.2%, while the DAX 40 in Frankfurt ended up 0.5%. This week, markets are awaiting the core personal consumer expenditure price index for February, which is the Fed's preferred inflation reading. It is due out on Friday, when markets are closed for Good Friday. Markets will reopen on Tuesday, after Easter Monday. According to FXStreet, the core PCE index is expected to unchanged annually at 2.8%. On a monthly basis, the reading is expected to ebb slightly to 0.3% in February, from 0.4% in January. "It's worth emphasising that the month-to-month readings need to cool down. This cooling is crucial because if they don't, disinflation against the 12-month readings, which the Fed uses to gauge progress, may halt and potentially reverse," said SPI Asset Management's Stephen Innes. Stocks in New York were higher at the London equities close, with the DJIA up 0.6%, the S&P 500 index up 0.4%, and the Nasdaq Composite up 0.1%. Meanwhile, numbers on Wednesday showed that consumer confidence and economic sentiment in the eurozone picked up this month. According to Eurostat's indicator, the single currency area's consumer confidence picked up to negative 14.9 points in March, from minus 15.5 in February. The reading was in line with a flash estimate. It is the strongest consumer confidence reading in just over two years. The wider economic sentiment index picked up to 96.3 points in March, from 95.5 in February. Analysts at ING said: "The end of a long period of stagnation in the eurozone is getting closer as businesses are becoming more upbeat about the months ahead. Inflation expectations for services are becoming more benign, which will confirm the ECB's view that rates can moderate." The pound was quoted at USD1.2630 at the London equities close Wednesday, up compared to USD1.2626 at the close on Tuesday. The euro stood at USD1.0823 at the European equities close Wednesday, lower against USD1.0828 at the same time on Tuesday. Against the yen, the dollar was trading at JPY151.35, down compared to JPY151.50 late Tuesday. In the FTSE 100, DS Smith jumped 8.7%. After the market close on Tuesday, DS Smith confirmed that it was in talks with International Paper, regarding a possible all share takeover offer. Under the terms of the proposal, DS Smith shareholders would receive 0.1285 shares in International Paper for each share they own in DS Smith. Based on International Paper's share price of USD40.85 at close of business on Monday, the terms represent a value of 415 pence per share. This would value DS Smith at around GBP6.2 billion. Talks with Mondi will also continue. Earlier this month, Mondi and DS Smith agreed a deal in principle which valued each share in DS Smith at 373p. Mondi shares closed up 1.1%. Diploma rose 9.5%, after it announced the proposed acquisition of Peerless Aerospace Fastener for around GBP236 million. The London-based supplier of specialised technical products and services said it expects the transaction to complete in the next few weeks, following customary regulatory clearances. Peerless Aerospace Fastener is a Farmingdale, New York-based distributor of specialty fasteners into the US and European aerospace markets. In the FTSE 250, TI Fluid Systems shares tumbled 15%. Shares fell after an investor sold a block of shares at a heavily discounted price. Broker Peel Hunt said BC Omega Holdco Ltd has sold 50.0 million shares in TI Fluid at 135p each by way of any accelerated bookbuild to institutional investors, raising GBP67.5 million. Amongst London's small-caps, CMC Markets surged 17%. In a trading update for the financial year ending March, the London-based online trading firm said it expects full-year net operating income to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. This would be up from GBP288.4 million in financial 2023. "CMC has seen a sharp upgrade cycle in the past few months, the strength of which has caught us by surprise, emphasising the significant effect of operating leverage and how quickly fortunes can turn in this sort of business," said Shore Capital analyst Vivek Raja. Brent oil was quoted at USD85.41 a barrel at the London equities close Wednesday, down from USD85.94 late Tuesday. Gold was quoted at USD2,190.33 an ounce at the London equities close Wednesday, higher against USD2,176.17 at the close on Tuesday. In Thursday's UK corporate calendar, JD Sports Fashion will publish full year results. The economic calendar for Thursday has a handful of results from the US, including GDP, initial jobless claims, and the Michigan consumer sentiment index. |
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