Author: Fiona Craig

Gunsynd Plc (LSE:GUN) has provided an update on its Eagle Gold Project in Ontario, Canada, where it is collaborating with Critical Discoveries Ltd to refine drill targets and build constructive relationships with local communities. The team is digitising historical exploration data to pinpoint high-priority areas for an initial drilling campaign, while outreach efforts—including engagement with Indigenous groups—are underway to ensure community input shapes the project’s development. Gunsynd is also close to completing a farm-in agreement that will help advance the asset to its next phase.

Despite these operational developments, Gunsynd continues to grapple with significant financial strain. Ongoing losses and weak cash flow remain the main drags on its overall performance metrics. Market sentiment, as reflected in technical indicators, appears mixed, and the company’s valuation remains difficult to justify given the scale of its losses. Nonetheless, recent strategic moves and investments in higher-potential mining ventures offer a measure of optionality should these projects deliver. For now, financial instability continues to overshadow the firm’s longer-term ambitions, leading to a cautious assessment.

More about Gunsynd

Gunsynd Plc is an AIM-listed investing vehicle with a focus on early-stage exploration and development opportunities, particularly within the mining and natural resources sectors.

Pharos Energy plc (LSE:PHAR) continues to make steady progress across its core geographies, advancing a major six-well drilling programme in Vietnam—the largest investment the company has committed to these fields since their original development. Early results from the first TGT well have surpassed internal expectations, giving a welcome lift to production. In Egypt, Pharos has secured a unified Concession Agreement featuring improved fiscal terms, paving the way for additional drilling and operational activity. The group remains financially resilient, operating with no debt and maintaining a solid cash position that supports both ongoing capital deployment and consistent shareholder returns.

Pharos Energy’s outlook is shaped by a blend of operational success and uneven financial performance. While strategic achievements highlighted in the earnings call reinforce long-term potential, technical indicators point to bearish sentiment in the near term. Valuation sits at a reasonable level, complemented by a compelling dividend yield. The company’s emphasis on disciplined growth and shareholder value remains a key strategic strength.

More about Pharos Energy

Pharos Energy plc is an independent upstream company focused on responsible growth through a balanced portfolio of production, development, and exploration assets in Vietnam and Egypt. The business is cash-generative, supported by a strong balance sheet, and positioned to pursue both organic expansion and selective acquisition opportunities. The company’s shares trade on the Main Market of the London Stock Exchange.

Cloudbreak Discovery PLC (LSE:CDL) has moved forward with its option to acquire the Crofton Gold Project in Western Australia, adding a 57 km² land package to its exploration portfolio. Management views the project as a strategic addition with the potential to meaningfully strengthen the company’s asset base, supported by promising geology and nearby processing facilities. The deal also aligns with Cloudbreak’s constructive view on gold prices and its broader plan to leverage Western Australia’s rich mineral landscape.

Cloudbreak Discovery PLC’s broader outlook remains constrained by ongoing financial strain, including a lack of revenue and continued losses. Though technical indicators point to pockets of short-term momentum, the long-term investment case is challenged by weak underlying fundamentals and an unattractive valuation marked by a negative P/E ratio. Recent restructuring and corporate initiatives offer some encouragement, but these efforts have yet to translate into improved financial performance, leaving the stock firmly in high-risk territory.

More about Cloudbreak Discovery PLC

Cloudbreak Discovery PLC is an exploration-focused company listed on the London Stock Exchange, targeting opportunities across gold, precious metals, and base metals. Concentrated primarily in Western Australia, the firm aims to build value through a diversified, multi-asset strategy designed to capture upside across the commodity cycle.

Ashtead Group PLC (LSE:AHT) released its unaudited results for the half year and second quarter ended 31 October 2025, reporting slight top-line progress. Total revenue increased 1%, while rental revenue edged up 2%. Operating profit softened, reflecting one-off expenses tied to the company’s US relisting plans and restructuring activities in the UK. Even so, Ashtead generated solid free cash flow, supporting continued shareholder distributions through dividends and buybacks. The group reiterated its full-year outlook and unveiled a fresh $1.5 billion share repurchase initiative as part of its broader strategy to secure a NYSE listing.

Ashtead’s resilient financial delivery and reaffirmed guidance underpin a steady near-term outlook. Still, technical signals hint at potential downward pressure, and management cautioned on operational hurdles that could shape performance ahead. Valuation appears reasonable, with a moderate dividend yield adding an element of income support.

More about Ashtead

Ashtead Group PLC is a major player in the equipment rental market, operating largely under the Sunbelt Rentals banner across North America and the UK. The business provides a broad portfolio of general and specialty equipment rental solutions to customers spanning construction, industrial, and commercial sectors.

Diales Group Plc (LSE:DIAL) has released its preliminary results for the year ended 30 September 2025, reporting steady revenue of £43.0 million alongside a notable lift in profitability. The firm expanded its gross margin to 27.0%, supported a 17% improvement in underlying operating profit from continuing operations, and recorded a sharp 113% increase in basic earnings per share. While net cash levels declined, the company upheld its dividend and continued repurchasing shares. Management signaled a constructive outlook for FY26, citing a healthy pipeline and expected productivity benefits from recent technology investments that should reinforce long-term growth.

Driver Group plc’s near-term direction remains shaped by financial pressure from falling revenues and ongoing net losses. Technical indicators point to positive momentum, though the stock currently screens as overbought. Valuation metrics are mixed, with a negative price-to-earnings ratio offset in part by a comparatively strong dividend yield.

More about Driver Group plc

Diales Group Plc provides specialist professional services to the global construction and engineering sectors. Its teams deliver multidisciplinary expertise across expert witness assignments, claims advisory work, and dispute resolution mandates for clients operating in complex project environments.

U.S. stock futures were slightly higher early Monday, suggesting Wall Street may build on the modest gains achieved at the end of last week.

Optimism surrounding the near-term interest rate outlook continues to underpin sentiment ahead of the Federal Reserve’s policy announcement later this week. The central bank is broadly expected to trim borrowing costs by another 25 basis points, and traders will focus closely on the Fed’s messaging for clues about whether more cuts could arrive in early 2026.

According to CME Group’s FedWatch tool, markets now assign an 89.2% probability to a quarter-point reduction on Wednesday, though expectations turn more cautious for January, with only a 70.3% likelihood of another cut.

Friday’s session brought a mild upswing for equities after a largely directionless Thursday. The gains pushed both the Nasdaq and the S&P 500 to their highest closes in a month.

Although the major averages pulled back from their intraday highs, all three finished in the green:

• Dow Jones Industrial Average: +104.05 points (+0.2%) to 47,954.99
• Nasdaq Composite: +72.99 points (+0.3%) to 23,578.13
• S&P 500: +13.28 points (+0.2%) to 6,870.40

On a weekly basis, the Nasdaq advanced 0.9%, the Dow rose 0.5%, and the S&P 500 added 0.3%.

The market’s modest move higher on Friday came after the release of the Fed’s preferred inflation gauge, the PCE price index, which largely matched consensus forecasts.

The Commerce Department reported a 0.3% month-over-month increase in September, identical to August’s reading.

Year-over-year PCE inflation accelerated slightly to 2.8% from 2.7%.

The core PCE index, which strips out food and energy, rose 0.2% for the third straight month. Its annual rate eased to 2.8% from 2.9%, offering additional reassurance that price pressures continue to cool.

Still, overall buying enthusiasm remained muted since traders already widely anticipated a rate cut this week.

Sector-wise, computer hardware stocks extended Thursday’s strong rally, with the NYSE Arca Computer Hardware Index climbing 1.7%.

Airline shares also outperformed, gaining 1.5%, while networking, semiconductor, and software names posted solid advances.

In contrast, steel stocks retreated notably.

European equities delivered a mixed performance on Monday as traders positioned themselves ahead of a busy week packed with interest rate decisions from the U.S. Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia, and the Bank of Canada.

German industrial output surprises to the upside

Fresh data out of Germany showed an unexpected acceleration in industrial production during October. Destatis reported that output rose 1.8% month-over-month, far exceeding expectations for a sharp slowdown to just 0.2% after a revised 1.1% rise in September.

On an annual basis, production increased 0.8%, reversing September’s 1.4% drop.

Major indices show mixed performance

The DAX edged 0.3% higher, while both the FTSE 100 and CAC 40 slipped 0.1% in early trading.

Corporate movers

• Kloeckner & Co (TG:KCO) surged 18% after confirming discussions over a potential voluntary takeover offer from U.S. metals processor Worthington Steel.
• Stabilus (TG:STM) fell 1.7% as the car parts supplier reported weaker fiscal 2025 profits, citing difficult market conditions, global tariff tensions, and mounting pricing pressure in the auto sector.
• BNP Paribas (EU:BNP) ticked slightly higher after agreeing to sell its 25% stake in AG Insurance to Ageas for €1.9 billion.
• L’Oréal (EU:OR) slipped nearly 2% following news it will double its ownership in Galderma.
• Sandoz (LSE:0SAN) climbed 3% after finalizing its purchase of Just-Evotec Biologics EU SAS from Evotec SE.
• Smith & Nephew (LSE:SN.) added 1.6% as the medical devices group presented a refreshed strategic roadmap, updated 2026 guidance, and long-term goals through 2028 at its Capital Markets Day.
• Unilever (LSE:ULVR) dropped 3.8% after completing the spinoff of its ice cream unit, now trading as The Magnum Ice Cream Company (TMICC) (LSE:MICC).

Meta (NASDAQ:META) is set to introduce a new choice for Facebook and Instagram users across the European Union, allowing them to access versions of the platforms that rely on less personal data for advertising, the European Commission confirmed.

Under the updated framework, individuals in the EU will be asked to decide whether they want to consent to full data sharing—with ads tailored extensively to their activity—or limit the data they provide and receive a service with only lightly personalized advertising.

Meta expects to begin offering these options in January 2026.

The change follows extended discussions with the Commission after regulators ruled in April 2025 that Meta’s approach to user consent did not meet the standards required under the Digital Markets Act. Once the new model goes live, EU officials plan to gather feedback to assess how widely it is adopted and whether it effectively brings Meta into compliance.

Quantum Base Holdings Plc (LSE:QUBE) has extended the deadline for its Retail Offer, which will now remain open until 10 December 2025. The company confirmed that the New Shares issued as part of the offer are expected to qualify for both Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) reliefs—an addition that could boost their appeal among investors seeking tax-efficient opportunities.

The fundraising, conducted via RetailBook, aims to secure around £750,000 through the issue of new ordinary shares. Participation is available to both existing shareholders and new investors, with a minimum investment threshold of £250. Proceeds are earmarked for growth-related working capital, balance sheet reinforcement, and ongoing needs across staffing, operations, and product development.

The Retail Offer remains subject to shareholder approval and hinges on the successful completion of a separate institutional placing. Admission of the new shares to trading is slated for 22 December 2025.

More about Quantum Base Holdings Plc

Quantum Base Holdings Plc is active in the quantum technology space, specializing in the development of cutting-edge quantum security products. Its offerings support sectors requiring ultra-secure data protection and next-generation encryption capabilities.

Crude prices steadied on Monday close to their strongest levels in two weeks, supported by expectations that the U.S. Federal Reserve will lower interest rates this week — a shift that traders believe could stimulate economic activity and fuel additional demand for energy. Geopolitical tensions affecting Russian and Venezuelan output added another layer of support.

By 07:22 GMT, Brent crude edged up 14 cents, or 0.22%, to $63.89 a barrel, while U.S. West Texas Intermediate rose 15 cents, or 0.25%, to $60.23. Both benchmarks finished Friday at their highest settlements since November 18.

LSEG data shows that markets currently assign an 84% probability to a quarter-point reduction in U.S. rates at the Fed’s meeting on Tuesday and Wednesday. Yet comments from policymakers suggest deep divisions within the central bank, prompting investors to closely examine any signals about the direction of future policy.

Progress on Ukraine peace negotiations in Europe remained limited, with major disagreements still unresolved around Kyiv’s long-term security and Russia’s territorial claims. U.S. and Russian officials also remain far apart on the peace proposal promoted by the administration of U.S. President Donald Trump.

Analysts at ANZ highlighted the wide range of possible geopolitical outcomes, writing: “The various potential outcomes from Trump’s latest push to end the war could release a swing in oil supply of more than 2 million barrels per day.”

Commonwealth Bank of Australia analyst Vivek Dhar noted that opposing forces continue to shape the outlook for crude, saying that a ceasefire would be the most significant bearish factor, while further damage to Russia’s energy infrastructure would be strongly supportive of prices.

Dhar added: “We think oversupply concerns will eventually be realised, especially as Russian oil and refined product flows eventually circumvent existing sanctions, prompting futures to gradually track towards $60/bbl through 2026.”

Reuters reported that the G7 and European Union are discussing replacing the current price cap on Russian oil with a full maritime services ban — a measure that would likely restrict supply further by limiting shipping and insurance access for Russia’s crude exports.

The United States has also increased its pressure on Venezuela, another OPEC producer. Recent actions include strikes on vessels it accused of smuggling drugs, as well as renewed talk in Washington of possible military steps aimed at removing President Nicolás Maduro.

Meanwhile, buying activity from Chinese independent refiners has picked up, with traders and analysts indicating that new import quotas have enabled them to draw more heavily on sanctioned Iranian crude held in onshore storage, helping to ease a buildup of excess supply.