ADVFN UK Market News

Author: Fiona Craig

  • Ariana Resources (AAU) advances Dokwe Gold Project with new metallurgical programme

    Ariana Resources (AAU) advances Dokwe Gold Project with new metallurgical programme

    Ariana Resources (LSE:AAU) has moved forward with development activities at its wholly owned Dokwe Gold Project in Zimbabwe after entering into a A$1 million Metallurgical Sampling and Testwork agreement with Hongkong Xinhai Mining Services. Payment for the contract will be made in Ariana CDIs. The agreement supports a 2,370-metre metallurgical drilling campaign, with drill core samples set to undergo testing in China under the supervision of Independent Metallurgical Operations. The programme is designed to optimise processing methods and ensure compliance with JORC 2012 reporting standards.

    Drilling and technical studies support feasibility timeline

    The company has deployed approximately 40 personnel and three drilling rigs to the site, with metallurgical drilling currently focused on Dokwe North while geotechnical drilling is underway at Dokwe Central. The work will contribute to an updated pre-feasibility study expected later this quarter, with a definitive feasibility study targeted for completion in early 2027. Additional technical programmes covering water management, tailings storage and waste handling are also progressing, alongside the use of the BoxScan core scanning system to improve geological modelling and reduce development risk.

    Existing resource base underpins project development

    The Dokwe Gold Project currently hosts an existing JORC-compliant mineral resource of 1.12 million ounces based on a 0.6g/t gold cut-off grade. Ariana believes the expanded drilling and metallurgical testing programme will provide greater clarity on ore characteristics and processing performance, supporting future project optimisation as the company advances the asset toward potential production.

    Financial outlook remains mixed

    Ariana Resources continues to face challenges linked to weak operating fundamentals, including the absence of revenue generation, recurring losses and ongoing negative operating and free cash flow, all of which contribute to sustainability concerns. However, the company’s relatively low leverage and stronger balance sheet position provide some financial support. Market technicals remain broadly neutral, while valuation metrics appear demanding due to a high price-to-earnings ratio and the lack of a dividend yield.

    More about Ariana Resources

    Ariana Resources is a mineral exploration and development company with gold-focused projects across Africa and Europe. Listed on both AIM and the ASX, the company’s primary focus is the advancement of its 100%-owned Dokwe Gold Project in Zimbabwe, where it is progressing feasibility studies and technical development work aimed at bringing the project closer to production.

  • Tharisa (THS) enters long-term underground mining agreement at South African operation

    Tharisa (THS) enters long-term underground mining agreement at South African operation

    Tharisa (LSE:THS) has entered into a five-year agreement with underground mining contractor Cementation Africa to carry out underground development and construction work at the Tharisa Mine in South Africa. The contract represents an important step in the company’s transition beyond solely open-pit mining operations. Structured as an alliance partnership on an open-book, cost-plus model, the arrangement is intended to align operational objectives between both companies while supporting the gradual expansion of underground mining alongside ongoing open-pit activities.

    Underground expansion aimed at extending mine life

    The partnership is expected to enhance operational performance by improving access to deeper ore zones and supporting the long-term sustainability of the Tharisa Mine. Management said the move forms part of the group’s broader strategy to maximise the value of its multigenerational orebody. Tharisa also expects Cementation Africa’s technical capabilities and established safety standards to contribute to greater operational efficiency and strengthen the company’s sustainability profile over time.

    Strategy supports future production growth

    By advancing underground development, Tharisa believes it can improve long-term resource utilisation and support future production growth across both platinum group metals and chrome concentrates. The initiative is also expected to reinforce the company’s competitive position within the PGM and chrome markets as demand linked to industrial applications and the global energy transition continues to evolve.

    More about Tharisa

    Tharisa is an integrated mining and metals group focused on platinum group metals and chrome concentrate production. The company operates across the full mining value chain, including exploration, extraction, processing, beneficiation, marketing, sales and logistics. Its flagship Tharisa Mine in South Africa, together with the Karo Platinum Project in Zimbabwe, supports the group’s long-term growth strategy tied to decarbonisation trends, downstream beneficiation opportunities and battery technology development.

  • Centrica (CNA) acquires Severn gas-fired power station in £370 million deal

    Centrica (CNA) acquires Severn gas-fired power station in £370 million deal

    Centrica (LSE:CNA) has finalised the acquisition of the Severn combined-cycle gas turbine power plant in South Wales from Calon Energy for £370 million. The transaction increases the company’s electricity generation portfolio across the UK and Ireland to 4GW, including projects currently under development and construction. The Severn facility, commissioned in 2010, has an 850MW capacity and is regarded as one of the UK’s most efficient gas-fired power stations, providing large-scale flexible generation capability at a time of growing demand for grid stability.

    Plant expected to provide long-term earnings contribution

    Centrica said the Severn asset is well positioned to benefit from several revenue streams, including wholesale electricity sales, capacity market payments and balancing services supplied to the National Energy System Operator. The company expects the station to deliver average annual capacity market revenues of around £35 million through to 2030, while EBITDA is projected to range between £30 million and £60 million annually from 2027 onward. Management also indicated the acquisition is expected to become earnings accretive on a per-share basis from the first full year following completion.

    Flexible generation seen as key during energy transition

    The company believes the Severn power station will play an important role in supporting system reliability during the UK’s ongoing energy transition. Centrica noted that gas-fired generation continues to provide essential dispatchable and flexible power capacity as older plants retire and grid constraints persist. The acquisition is aligned with the group’s broader capital allocation strategy and increases expected 2026 capital investment to approximately £1.1 billion. The purchase was funded entirely through existing cash resources on a cash-free, debt-free basis.

    Integration costs expected to weigh on short-term earnings

    Centrica warned that transaction-related expenses, integration costs and seasonally weaker summer revenues are likely to contribute to a modest net loss during 2026. Despite this, management sees opportunities to improve returns through operational optimisation and by applying its expertise in managing critical infrastructure assets. The deal also strengthens Centrica’s exposure to flexible power generation as electricity demand in South Wales is expected to rise, particularly from emerging high-energy users such as data centres.

    Financial profile remains balanced

    The company’s outlook is supported by solid revenue growth and consistently positive free cash flow generation, although this is balanced against volatile profitability, including a net loss recorded in 2025, and a balance sheet viewed as only moderately resilient. Technical indicators remain moderately constructive, with the stock trading above key long-term moving averages and momentum signals remaining neutral. Valuation metrics are considered reasonable, supported by a moderate price-to-earnings ratio and dividend yield.

    More about Centrica

    Centrica plc is a UK-based energy group listed on the London Stock Exchange, operating across electricity generation, energy supply and related services throughout the UK and Ireland. The company manages a portfolio of flexible generation assets, including combined-cycle gas turbine plants, and focuses on supporting energy security and the transition toward a lower-carbon energy system while generating returns for consumers, businesses and shareholders.

  • Journeo (JNEO) secures US transit contract worth US$1.2 million

    Journeo (JNEO) secures US transit contract worth US$1.2 million

    Journeo (LSE:JNEO) has won a US$1.2 million contract through its subsidiary Infotec to provide advanced passenger display systems for the Massachusetts Bay Transportation Authority network in Boston. The order was awarded by Outfront Media Group and relates to one of the largest and busiest public transport systems in the United States. The customised display technology, designed by Journeo’s in-house Design Centre, incorporates high-performance embedded systems aimed at improving operational reliability, enabling remote diagnostics and supporting long-term performance in demanding transit environments.

    Boston project expands North American presence

    Work on the MBTA programme is already underway, with product deliveries expected to continue through 2026. The agreement marks another step in Journeo’s expansion across North America following its recent deployment within New York’s Metropolitan Transportation Authority network. The company said the contract supports its strategy of delivering lifecycle support for passenger display infrastructure while strengthening its position in the global transport technology sector. Growing demand for intelligent passenger information systems internationally is also expected to support further opportunities in the region.

    Strong fundamentals contrasted by weaker market momentum

    Journeo continues to benefit from solid financial fundamentals, including revenue growth, improving profitability, reduced leverage and stronger recent cash generation. However, these positives are currently offset by weak technical indicators, with the share price trading below major moving averages and bearish momentum trends remaining in place. While the company’s relatively low price-to-earnings valuation offers some support, it has not been sufficient to counter the prevailing downward trend in the stock.

    More about Journeo

    Journeo plc is a UK-based technology provider specialising in intelligent transport systems and infrastructure solutions for public transport networks and critical national infrastructure. Operating through six subsidiaries, the group supplies integrated passenger information systems, CCTV, telematics, real-time communication technologies, IoT-enabled displays and advanced surveillance solutions to bus and rail operators, airports and high-security facilities.

  • MHA raises earnings expectations following revenue growth and international expansion

    MHA raises earnings expectations following revenue growth and international expansion

    MHA plc (LSE:MHA) delivered a strong trading update for the financial year ended 31 March 2026, reporting a 12% increase in group revenue to approximately £251 million. Adjusted EBITDA also climbed 12% to around £46 million, surpassing market expectations as demand remained solid across all four of the company’s core service divisions. Growth was particularly driven by activity in the financial services, manufacturing and engineering, and professional services sectors. The group also reported an improved net cash position of roughly £24 million while maintaining quarterly dividend payments under its progressive dividend framework.

    Acquisitions strengthen presence in Europe and the Middle East

    The company significantly expanded its international operations through the acquisition of Baker Tilly South East Europe in August 2025 and the UAE operations of Moore Stephens in April 2026. These deals broadened MHA’s reach across South-East Europe and the Middle East and are expected to contribute positively to earnings during their first full financial years within the group. Management highlighted a strong acquisition pipeline and continued investment in technology, artificial intelligence, talent development and sector-focused expertise as key drivers of future growth.

    Medium-term revenue ambitions remain on track

    MHA reiterated confidence in achieving its medium-term objective of generating more than £500 million in annual revenue. The company said its expanding international network, combined with ongoing strategic investment and sustained client demand, positions the business well for continued long-term growth and value creation for shareholders and stakeholders alike.

    More about MHA Plc

    MHA plc is a United Kingdom-based professional services group offering audit and assurance, tax, accountancy and advisory services across a wide range of industries. The company employs more than 2,300 staff and 157 partners operating from 37 offices located across the UK, Ireland, South-East Europe, the UAE and the Cayman Islands. MHA also acts as the Baker Tilly International representative in several European markets, including the UK, Ireland, Cyprus and Greece.

  • Strategic Minerals (SML) reports stronger tin assays at Redmoor project

    Strategic Minerals (SML) reports stronger tin assays at Redmoor project

    Strategic Minerals (LSE:SML) has released upgraded tin assay results following the reanalysis of 428 historical drill core samples from its Redmoor project in Cornwall. The company used an analytical method considered more effective for cassiterite mineralisation, with the revised testing returning higher tin grades in 78% of the samples reviewed. Although the updated figures are not expected to materially alter the recently published 2026 Mineral Resource Estimate, they are anticipated to improve the next resource model update by providing greater definition to high-grade tin zones and tin-only veins located both within and beyond the Sheeted Vein System.

    New sampling points to additional mineralisation potential

    Further sampling from drillhole CRD040 has identified indications that tin mineralisation may extend between the Sheeted Vein System and the North Tin Zone. The findings strengthen the possibility of expanding known mineralised areas or identifying entirely new zones at Redmoor. Management stated that ongoing relogging, resampling and drilling activity, together with an increase in resource infill drilling and pre-feasibility work, is expected to enhance the project’s long-term value and support more refined resource updates in the future.

    Financial improvement balanced by valuation concerns

    The company’s outlook is underpinned by stronger financial performance during 2024 and supportive technical trading signals indicating a sustained upward trend. However, investor sentiment may be tempered by an elevated valuation, reflected in a high price-to-earnings ratio and the absence of dividend yield data. Technical indicators also suggest overbought conditions, potentially increasing the risk of short-term volatility.

    More about Strategic Minerals

    Strategic Minerals plc is an international exploration and production company listed on the AIM market and the U.S. OTC market. Through its wholly owned subsidiary, Cornwall Resources Limited, the group is advancing the Redmoor tungsten-tin-copper project in Cornwall, United Kingdom, with a focus on developing polymetallic mineralisation and the combined production potential of tungsten and tin.

  • Great Western Mining (GWMO) launches metallurgical testing at Nevada tungsten asset

    Great Western Mining (GWMO) launches metallurgical testing at Nevada tungsten asset

    Great Western Mining (LSE:GWMO) has commenced metallurgical flotation testing on a 750-kilogram bulk sample taken from its Defender–Pine Crow tungsten project in Mineral County, Nevada. The company has engaged Eriez Global, based in Pennsylvania, to carry out a proof-of-concept programme focused on scheelite-rich skarn mineralisation. The testing will apply an established processing flowsheet aimed at producing a high-grade tungsten concentrate while demonstrating the project’s potential to support a domestic U.S. tungsten supply chain.

    Resource estimate and drilling plans support project expansion

    The company expects assay results in the third quarter of 2026, with the findings set to contribute to an initial mineral resource estimate targeted for later in the year. These activities form part of a broader fully funded exploration strategy at Defender–Pine Crow. Planned work includes geophysical surveys, geological mapping, trenching, and a drilling campaign scheduled to begin in July 2026. The programme is intended to evaluate the scale and continuity of the mineral system and examine links to the nearby M2 copper skarn trend, which could further strengthen the project’s strategic significance.

    Financial pressures offset by improving technical indicators

    Great Western Mining’s investment outlook remains weighed down by weak financial fundamentals, including a lack of revenue generation, ongoing losses, and continued cash outflows, despite relatively low debt levels. However, technical indicators present a more constructive picture, with the share price trading above key moving averages and momentum remaining moderately positive. Valuation metrics remain limited due to the company’s negative earnings profile and the absence of dividend yield data.

    More about Great Western Mining

    Great Western Mining Corporation is an exploration and development company concentrating on strategic mineral opportunities across multiple wholly owned claim groups in Mineral County, Nevada, a well-established U.S. mining jurisdiction. The company is placing greater emphasis on tungsten as a critical mineral while also progressing its Huntoon copper project and retaining exposure to gold and silver through exploration activities and tailings reprocessing initiatives.

  • Wall Street Futures Rise As Markets Cheer Signs Of Possible U.S.-Iran Breakthrough: Dow Jones, S&P, Nasdaq

    Wall Street Futures Rise As Markets Cheer Signs Of Possible U.S.-Iran Breakthrough: Dow Jones, S&P, Nasdaq

    U.S. stock futures traded higher early Wednesday, pointing to another positive session for equities after strong gains in the previous trading day.

    Investor confidence improved as hopes grew that the conflict in the Middle East could move toward a diplomatic resolution, following a favorable report from Axios.

    Axios, citing two U.S. officials and two additional people familiar with the talks, reported that the White House believes it is nearing a short memorandum of understanding with Iran aimed at ending the war.

    According to the report, the proposed arrangement would see Iran agree to suspend nuclear enrichment activities, while Washington would ease sanctions and release billions of dollars in frozen Iranian assets. The discussions also reportedly include easing restrictions tied to shipping through the Strait of Hormuz.

    Although the report stressed that negotiations remain incomplete, sources told Axios the current talks represent the closest the two sides have come to an agreement since hostilities began.

    Adding to the positive tone, President Donald Trump said the United States would temporarily halt efforts to escort commercial vessels through the Strait of Hormuz while discussions continue over a possible final agreement.

    Still, Trump also struck a tougher tone in a separate Truth Social post, warning that the U.S. would resume attacks against Iran “at a much higher level and intensity than it was before” if negotiations collapse.

    “Even without a fully detailed agreement, the mere progress toward a framework for de-escalation is enough to alter how risk is being priced,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

    “However, it is important to stress that this is still a fragile step rather than a definitive resolution,” she added. “A one-page memo suggests that many key details remain unresolved, and past experience has shown that negotiations can quickly stall or reverse.”

    Technology stocks also supported futures trading, led by a strong premarket rally in AMD (NASDAQ:AMD), which jumped 15.3%.

    AMD surged after delivering quarterly earnings and revenue ahead of analyst expectations while also issuing stronger-than-expected guidance for the second quarter.

    In economic news, payroll processor ADP reported stronger-than-expected private sector hiring growth in April.

    ADP said private payrolls increased by 109,000 jobs last month after March’s figure was revised lower to 61,000 from the previously reported 62,000.

    Economists had forecast job growth of 85,000.

    Markets had already rallied sharply on Tuesday following early weakness, with both the Nasdaq Composite and the S&P 500 erasing Monday’s declines and closing at fresh record highs.

    Despite easing from intraday peaks late in the session, the major indexes still ended firmly higher. The Nasdaq gained 258.32 points, or 1%, to finish at 25,326.13, while the S&P 500 climbed 58.47 points, or 0.8%, to 7,259.22. The Dow Jones Industrial Average added 356.35 points, or 0.7%, to close at 49,298.25.

    Equities also benefited from a steep decline in oil prices. U.S. crude futures fell more than 3% after surging over 4% on Monday.

    Oil prices retreated as concerns about escalating Middle East tensions eased. Secretary of War Pete Hegseth said the U.S.-Iran ceasefire was “not over” despite Iranian attacks targeting the United Arab Emirates.

    “Ultimately the President is going to make a decision whether anything were to escalate into a violation of a ceasefire,” Hegseth said. “Right now, the ceasefire certainly holds but we’re going to be watching very, very closely.”

    Chairman of the Joint Chiefs of Staff Gen. Dan Caine told reporters the Iranian attacks remain “below the threshold of restarting major combat operations at this point.”

    Hegseth also confirmed that two American commercial vessels, escorted by U.S. destroyers, safely passed through the Strait of Hormuz, declaring the “lane is clear.”

    Corporate earnings remained another source of support for markets. U.S.-listed shares of Anheuser-Busch InBev (BUD) jumped 8.7% after the brewer reported quarterly results that beat analyst expectations on both earnings and revenue.

    Separately, fresh data from the Institute for Supply Management showed a modest slowdown in growth across the U.S. services sector during April.

    The ISM services PMI slipped to 53.6 from 54.0 in March, though it remained above the 50 level that signals expansion. Economists had expected a reading of 53.7.

    Technology-related sectors led Tuesday’s market gains.

    Computer hardware stocks rallied strongly, pushing the NYSE Arca Computer Hardware Index up 4.4% to a new record close.

    Semiconductor stocks also advanced sharply, with the Philadelphia Semiconductor Index climbing 4.2% to another all-time closing high.

    Intel (NASDAQ:INTC) helped lift the chip sector after Bloomberg reported that Apple (NASDAQ:AAPL) had explored using Intel to manufacture processors for its devices in the United States.

    Airline, steel and housing stocks also posted notable gains as buying interest spread broadly across the market.

  • European equities rally as hopes rise for U.S.-Iran agreement: DAX, CAC, FTSE100

    European equities rally as hopes rise for U.S.-Iran agreement: DAX, CAC, FTSE100

    European stock markets moved sharply higher on Wednesday as investor sentiment improved on growing expectations that the United States and Iran could move toward a diplomatic agreement.

    A steep drop in oil prices and easing concerns over energy-driven inflation further supported risk appetite across the region. Investor confidence was also boosted by record highs in U.S. stock futures and another round of strong corporate earnings reports.

    The U.K.’s FTSE 100 climbed 2.6% from Tuesday’s close of 10,219.11 and was trading at 10,482.96. During the session, the index moved between 10,324.72 and 10,487.66.

    France’s CAC 40 advanced 3.3% to 8,329.49 after fluctuating between 8,131.53 and 8,330.44. The benchmark index has now gained 8.2% since the start of the year.

    Germany’s DAX jumped 2.7% to 25,041.89 from the previous close of 24,392.27. The index traded between 24,616.25 and 25,150.39 and touched its highest level in nine weeks.

    Switzerland’s Swiss Market Index also rallied strongly, rising 2.3% from 13,052.17 to 13,348.40. The session range stood between 13,174.20 and 13,377.70.

    The pan-European EURO STOXX 50 gained 3% to trade at 6,045.45, compared with its prior close of 5,869.63. Intraday trading ranged from 5,917.95 to 6,065.06.

    Renewed optimism surrounding a possible U.S.-Iran peace agreement also weakened the safe-haven U.S. dollar.

    The EUR/USD pair rose 0.7% to 1.1769, while GBP/USD gained 0.5% to trade at 1.3621.

    European markets had already finished Tuesday’s session in positive territory after tensions in the Middle East showed signs of easing.

  • Copper prices gain after Trump highlights progress in Iran negotiations

    Copper prices gain after Trump highlights progress in Iran negotiations

    Copper prices strengthened on Wednesday after U.S. President Donald Trump pointed to progress in talks aimed at ending the conflict with Iran, helping ease concerns about potential economic disruption. Nickel also extended gains, climbing above the $2,000 mark for the first time in around two years.

    Three-month copper contracts on the London Metal Exchange rose 1.1% to $13,134.50 per metric ton by 08:24 GMT, reaching their strongest level since April 27.

    Trump said Tuesday that he would temporarily halt the operation escorting vessels through the Strait of Hormuz, adding that “great progress” had been made toward a broader agreement with Iran. Following the comments, global stock markets moved higher, oil prices declined and the U.S. dollar weakened.