Gaming Realms (LSE:GMR) reported a resilient performance for the first half of 2026, with core content licensing revenue rising by approximately 9% and adjusted EBITDA increasing around 16% on a comparable basis. The improvement came despite weaker contributions from its non-core brand licensing business. The group expects first-half revenue of approximately £15.5 million and adjusted EBITDA of £6.6 million. Strong cash generation continued throughout the period, leaving the company with net cash of £13.5 million following the completion of a £6 million share buyback programme. Management remains confident that full-year results will meet current market expectations.
The company also returned to growth in its domestic market, with UK revenue increasing 3% and gross gaming revenue exceeding levels seen before the introduction of betting stake limits, despite the increase in Remote Gaming Duty from 21% to 40%. Internationally, Gaming Realms expanded into additional regulated markets, including Africa and Peru, launched 11 new titles featuring games developed by its Lucky Lunar studio, and entered Alberta’s newly regulated iGaming market. These developments extend the company’s presence to 33 regulated jurisdictions, further strengthening its position as an international supplier of gaming content.
The company’s outlook is supported by strong operating margins, a low-debt balance sheet and a favourable earnings growth profile driven by multiple expansion opportunities. However, softer net margins and free cash flow recorded during 2025 continue to weigh on the overall picture. Technical indicators remain less supportive, with the shares trading below longer-term moving averages, while valuation appears broadly balanced based on the current price-to-earnings multiple.
About Gaming Realms
Gaming Realms is a UK-based developer and licensor of mobile-first gaming content, serving regulated markets across the UK, the United States, Canada and Malta. The company develops and licenses proprietary gaming brands, including its well-known Slingo portfolio alongside bingo and slot games, combining entertainment, media and data-driven technology to deliver innovative content to operators worldwide.
Flowtech Fluidpower (LSE:FLO) delivered a solid first-half performance, with revenue increasing 23.7% year-on-year to £70.4 million. Organic revenue growth reached 13.2%, reflecting continued market share gains across all operating regions, while recently completed acquisitions also contributed to the stronger result. Despite supply chain disruption and inflationary pressures linked to events in the Middle East, the company maintained resilient margins and customer service standards. Two major bridge projects experienced delays, with their expected contribution now anticipated in the second half of the year.
The integration of five recently acquired businesses is progressing faster than originally planned. Collectively, these acquisitions are expected to contribute around £30 million in annualised revenue and more than £3 million in EBITDA, having been completed for a combined consideration of approximately £6 million. Net debt was reduced to £16.5 million, leaving the group with substantial headroom under its banking facilities. Management expects stronger cash generation in the second half, supported by continued investment in its digital platform, a healthy order book and ongoing operational improvements, providing confidence in further growth in revenue, profitability and leverage reduction before the end of the year.
The company’s overall outlook reflects a balanced picture. Operational performance and cash generation have improved, but profitability remains inconsistent, with net income still negative. Technical indicators remain supportive, as the share price continues to trade above key moving averages, although overbought conditions could increase the likelihood of short-term volatility. Valuation also remains constrained, with a negative price-to-earnings ratio highlighting that the business has yet to establish sustained profitability.
About Flowtech Fluidpower
Flowtech Fluidpower is a specialist supplier of hydraulic, pneumatic and process engineering products and services across the UK, Ireland and the Benelux region. The group provides industrial components, engineering expertise and large-scale project support to businesses involved in designing, building and maintaining industrial facilities. Operating in a fragmented European market valued at around £30 billion, Flowtech employs approximately 600 people and owns a portfolio of established brands including Flowtech, Thorite, Allswage, Thomas Group, Q Plus and Helipebs Controls.
Georgina Energy (LSE:GEX) has commenced the mobilisation of a water well contractor at its Hussar EP513 project in Western Australia as preparations continue for a planned 50-day drilling programme in the third quarter of 2026. The campaign will use the Ensign 970 drilling rig and is designed to reach a target depth of 3,200 metres, focusing on subsalt reservoirs including the Townsend Formation and fractured Neoproterozoic basement, where the company is targeting helium, hydrogen and natural gas.
Development activities, including the installation of water bores and supporting site infrastructure, are being funded entirely by project partner Harlequin and its affiliated parties. As a result, Georgina Energy’s expected drilling schedule remains unchanged. Hussar hosts independently certified 2U prospective resources of 285 BCFG of helium, 315 BCFG of hydrogen and 2.93 TCF of natural gas. The company said ongoing site inspections, logistical planning and regulatory preparations are intended to keep the project on schedule while ensuring all operational requirements are met.
The company’s overall assessment continues to be weighed down by weak financial fundamentals, including the absence of revenue, continuing losses, negative operating cash flow, negative shareholder equity and increasing debt levels. However, stronger technical trading momentum has provided some support, although valuation remains limited by the company’s loss-making position and the lack of a dividend.
About Georgina Energy plc
Georgina Energy plc is a London-listed exploration company focused on helium and hydrogen opportunities in Australia through its wholly owned subsidiary, Westmarket Oil & Gas. Its portfolio includes the wholly owned Hussar prospect in the Officer Basin of Western Australia and the Mt Winter prospect in the Amadeus Basin, providing exposure to growing global demand for helium, hydrogen and natural gas resources.
The race to develop commercially viable quantum technologies is accelerating, but the biggest breakthroughs are unlikely to come from simply scaling today’s approaches. Instead, they will come from solving the fundamental scientific challenges that have limited quantum computing for decades.
That was the key message from a recent fireside discussion hosted by Delta Gold Technologies (AQSE:DGQ)(USOTC:DGQTF) (FRA:02J), where CEO and Co-founder Mike Jones was joined by Professor Harry Ruda of the University of Toronto and Professor Ken Knappenberger of Penn State University.
The event provided investors with a rare opportunity to hear directly from two internationally respected researchers leading Delta Gold’s quantum research programmes, offering valuable insight into why the company believes its gold-based quantum platform could represent a fundamentally different route towards scalable quantum technologies.
Building Quantum From the Ground Up
Rather than chasing incremental improvements to existing quantum architectures, the discussion focused on addressing one of the industry’s greatest challenges: creating qubits that are both stable and scalable.
Current quantum platforms often excel in one area but struggle in the other. Trapped ion systems can offer exceptional stability but remain difficult to scale, while many solid-state approaches can be manufactured at larger volumes but introduce unwanted noise that reduces performance.
Professor Ken Knappenberger explained that solving both challenges simultaneously remains one of the defining problems facing the global quantum computing industry.
Delta Gold’s research seeks to tackle this challenge through engineered gold nanoclusters, designed to combine the advantages of atomic-scale stability with the manufacturing potential needed for practical quantum devices.
A Different Approach to Quantum
One of the most compelling aspects of the discussion was the complementary expertise brought together by Delta Gold’s academic partnerships.
Professor Harry Ruda approaches the challenge from the perspective of semiconductor physics and electronic quantum systems, while Professor Ken Knappenberger specialises in quantum chemistry and the unique properties of gold nanoclusters.
Rather than competing approaches, the scientists described how their research programmes increasingly complement one another, creating opportunities to share discoveries across multiple quantum technologies, including quantum computing, sensing and communications.
Mike Jones noted that bringing these leading researchers together in person had already generated new ideas beyond the company’s original research roadmap, highlighting the value of international collaboration between Canada, the United States and, increasingly, the United Kingdom.
Gold as a Quantum Material
Perhaps the most intriguing element of the discussion centred on gold itself.
While much of today’s quantum industry has focused on superconducting circuits, trapped ions, diamond defects and neutral atoms, Delta Gold is exploring gold nanoclusters as an entirely different quantum platform.
According to Professor Knappenberger, gold offers something unique: a material whose properties can be chemically tailored rather than relying on naturally occurring defects or fixed atomic structures.
This ability to engineer materials at the molecular level could provide significant flexibility in designing future quantum devices while supporting scalable manufacturing.
Importantly, the company has already translated this work into intellectual property, with multiple patent filings supporting its growing quantum portfolio.
Beyond Quantum Computing
The fireside chat also highlighted that quantum computing is only one part of a much broader opportunity.
Both professors discussed the nearer-term commercial potential of quantum sensing, where stable quantum systems can be used to measure magnetic fields, temperature, materials, navigation and other environmental properties with extraordinary precision.
These applications are widely regarded across the industry as likely to reach commercial adoption well before universal quantum computers become a reality.
By pursuing both quantum computing and quantum sensing technologies, Delta Gold is positioning itself to participate across multiple high-growth segments of the emerging quantum economy.
A Long-Term Strategy Built on Scientific Foundations
Throughout the discussion, one theme remained consistent: scientific credibility.
Rather than making ambitious claims about near-term quantum supremacy, the speakers repeatedly emphasised the importance of building strong scientific foundations first.
The company outlined research programmes spanning three to six years, focused on developing robust quantum platforms, expanding its patent portfolio and strengthening collaborations with leading universities.
For investors, this measured approach may prove to be one of Delta Gold’s greatest strengths.
Instead of following the crowded paths already being explored by larger quantum companies, Delta Gold is developing proprietary technology based on original scientific research conducted by globally recognised experts.
As Mike Jones concluded, many companies may appear further ahead, but if today’s leading technologies ultimately prove difficult to commercialise, starting again with stronger scientific fundamentals could prove to be the smarter route.
With world-class academic partners, an expanding intellectual property portfolio and a differentiated approach centred on engineered gold nanoclusters, Delta Gold Technologies is steadily building the foundations for what could become an important player in the next generation of quantum innovation.
For more information visit – https://www.deltagoldtech.com/
U.S. equity futures pointed to a positive start for Monday’s session as investors responded favourably to signs of easing geopolitical tensions in the Middle East, helping improve sentiment ahead of several key market events.
Markets reacted after President Donald Trump suspended military operations against Iran following nearly two weeks of strikes, allowing diplomatic efforts to continue.
“He’s giving talks some space, he’s giving it a little bit of room,” U.S. ambassador to the United Nations Mike Waltz told Fox News on Sunday.
Iran also confirmed it had halted retaliatory attacks while reporting progress in discussions with Oman over the future management of the Strait of Hormuz, easing fears of further disruption to global oil supplies.
Falling oil prices support investor confidence
Crude oil prices moved sharply lower after the latest diplomatic developments, with U.S. oil futures dropping by more than 6%.
Lower energy prices also pushed Treasury yields lower, reducing concerns over inflation and monetary policy ahead of this week’s Federal Reserve meeting.
“Sentiment has received a further boost from a sizzling stock market debut in China by silicon chip maker CXMT,” said AJ Bell investment director Russ Mould.
He added, “Its near five-fold surge may help to soothe concerns about the AI trade after slumps in SpaceX and Korea’s SK Hynix after their recent offerings.”
Investors look ahead after volatile trading
Friday’s session ended with mixed results after stocks experienced wide swings throughout the day.
The Nasdaq declined 0.6% to 24,975.82, while the S&P 500 edged 0.1% higher to 7,411.98. The Dow Jones Industrial Average added 0.5% to close at 51,947.25.
On a weekly basis, the Nasdaq fell 2.1%, while the S&P 500 and Dow lost 0.6% and 0.4%, respectively.
Tariffs remain a source of uncertainty
Friday’s early gains were fuelled by lower oil prices following reports that Pakistan was exploring ways to revive U.S.-Iran negotiations.
However, market sentiment weakened later in the session after President Donald Trump threatened additional tariffs on the European Union in response to regulatory fines imposed on major U.S. technology companies.
The administration also confirmed tariffs ranging from 10% to 12.5% on imports from 60 economies, including the European Union, the United Kingdom, China, India, Japan and Canada.
Sector performance remains mixed
Semiconductor stocks were among the weakest performers, with Intel (NASDAQ:INTC) falling 7.9% despite reporting stronger-than-expected quarterly results and issuing upbeat guidance.
Airline shares outperformed as lower fuel prices improved the sector’s outlook, while oil services companies also advanced, led by SLB (NYSE:SLB), which jumped 11% after posting earnings above expectations.
Commercial real estate and homebuilding companies also benefited from lower Treasury yields, which eased concerns over financing costs.
European equity markets traded higher on Monday as investors welcomed signs of improving relations between the United States and Iran, reducing concerns over energy supplies and geopolitical risk.
Brent crude dropped about 6% to trade near $90 a barrel after Washington and Tehran suspended military operations over the weekend, opening the door to renewed diplomatic discussions aimed at preventing a broader regional conflict.
Iran also reported progress in negotiations with Oman regarding the management of the Strait of Hormuz, raising optimism that one of the world’s most important oil shipping routes will remain open without further disruption.
Market participants are now shifting their focus toward a busy week of corporate earnings from major U.S. technology companies, alongside the Federal Reserve’s upcoming monetary policy decision.
Major European indices move higher
Germany’s DAX gained 1.6%, leading regional markets, while France’s CAC 40 added 0.8%. The UK’s FTSE 100 also traded higher, advancing 0.5%.
Carmakers benefit from continued EV demand
Automotive stocks posted solid gains after recent industry figures showed demand for electrified vehicles continued to support growth across the European car market in June.
Volkswagen (TG:VOW3), Mercedes Benz (TG:MBG), Volvo (FTSE:SSVOLVO) and Renault (EU:RNO) all climbed between 1% and 2%.
DCC agrees takeover as Vodafone and AstraZeneca climb
DCC Energy (LSE:DCC) gained more than 1% after the Irish energy distributor accepted a £5.75 billion takeover proposal from private equity groups KKR and Energy Capital Partners.
Vodafone Group (LSE:VOD) jumped 4% after reporting a strong first quarter and saying it now expects full-year earnings to finish at the upper end of its guidance range.
AstraZeneca (LSE:AZN) rose 1.3% after delivering better-than-expected second-quarter profit while reaffirming both its full-year and long-term financial outlook.
Siemens strengthens AI offering
Shares of Siemens (TG:SIE) advanced 1.4% after the industrial technology group announced the integration of new Nvidia artificial intelligence software into its Intelligence Center X platform.
JD Sports Fashion (LSE:JD.) shares rose 5.3% to 93.65p during Monday’s session as investors responded positively to the approaching completion of the first phase of the retailer’s share buyback programme, alongside improving sentiment toward UK consumer stocks.
The initial £100 million tranche of JD Sports’ £200 million share repurchase scheme is due to conclude by July 31. Ongoing purchases in the final days of the programme have continued to provide additional demand for the stock, helping to support its recent gains.
Governance changes remove uncertainty
The company has also benefited from greater leadership clarity following its Annual General Meeting on July 21, where shareholders approved all proposed resolutions.
Following the planned departure of Andrew Higginson, Darren Shapland officially assumed the role of Interim Chair, removing a governance uncertainty that investors had been monitoring for several months.
Analysts remain positive on the retailer
Market sentiment has also been supported by analysts, with the consensus price target remaining comfortably above the current share price.
That suggests many analysts continue to view JD Sports as trading below its estimated fair value despite the recent rally.
The wider market environment has also provided support for the retailer.
The FTSE 100 entered the session on a positive note after finishing Friday at 10,736.23, its strongest closing level in several months. Investor confidence improved as easing tensions in the Middle East pushed oil prices lower, while stronger-than-expected UK retail sales data for June reinforced optimism around consumer spending.
Expectations that the Bank of England will leave interest rates unchanged at its upcoming meeting have also reduced policy uncertainty for consumer-facing businesses.
Taken together, continued share repurchases, improved corporate governance visibility, favourable analyst sentiment and a supportive backdrop for UK equities helped lift JD Sports shares toward the top of the FTSE 100 leaderboard. Even after today’s advance, however, the stock remains below its 52-week high of 106.15p.
BP (LSE:BP.) shares fell 3.3% to 530.3p after Brent crude retreated sharply on growing optimism that tensions in the Middle East may continue to ease, reducing one of the main drivers behind the recent rally in energy stocks.
Brent crude slipped back toward $92 per barrel after trading above $100 only days earlier, prompting investors to reassess the earnings outlook for oil producers. For BP, the weaker crude price has raised concerns over the company’s upstream revenue prospects.
The wider FTSE 100 began the trading session on a firmer footing after ending Friday at 10,736.23, with improving investor confidence supporting broader market sentiment.
However, the decline in geopolitical risk that has helped lift equities has simultaneously pushed oil prices lower, leaving major energy companies such as BP and Shell lagging behind the rest of the market.
Sector-specific weakness contrasts with U.S. market gains
The softer performance in BP comes despite a positive session for U.S. equities, where both the S&P 500 and Nasdaq moved higher.
The contrast suggests today’s selling pressure is largely confined to the energy sector rather than reflecting a broader deterioration in global market sentiment.
Investors await second-quarter results
BP is also facing additional headwinds ahead of its upcoming earnings release.
Lower crude prices, guidance for weaker second-quarter production, ongoing restructuring initiatives and cautious positioning before the company’s August 4 results have all contributed to today’s decline.
With the shares trading well below their 52-week high of 609.4p, investors are expected to look to the upcoming earnings report for greater clarity on BP’s operational performance and outlook.
Gold prices moved higher on Monday, supported by a weaker U.S. dollar, as investors balanced easing geopolitical tensions in the Middle East with expectations ahead of this week’s Federal Reserve policy decision.
Spot gold advanced 1.1% to $4,096.36 an ounce by 06:52 GMT, while August Gold Futures gained 0.68% to $4,098.60 an ounce.
The precious metal also finished last week almost 1% higher despite heightened market volatility.
Declining dollar boosts precious metals
A 0.3% fall in the U.S. Dollar Index increased the appeal of gold for overseas buyers by making dollar-denominated bullion less expensive.
The metal also benefited from a sharp fall in oil prices after the United States and Iran maintained their pause in military operations over the weekend, reducing concerns about a broader regional conflict.
President Donald Trump suspended the U.S. bombing campaign on Friday following 13 consecutive nights of strikes on Iranian targets, allowing diplomatic discussions to continue. Iran also refrained from retaliatory attacks on neighbouring countries hosting U.S. military bases.
The decline in crude oil prices has eased inflation concerns, although investors remain cautious ahead of the Federal Reserve meeting later this week.
Markets await signals from the Federal Reserve
The Federal Reserve is widely expected to leave interest rates unchanged on Wednesday.
However, markets will closely analyse comments from Chair Kevin Warsh for any indication of when interest rate cuts could begin and how policymakers view the current inflation outlook.
Investors are also awaiting key U.S. economic releases, including inflation figures and employment data, which could influence expectations for future monetary policy.
Silver, platinum and copper move higher
Other metals also traded higher on Monday. Silver climbed 2.1% to $59.39 an ounce, while platinum gained 2.3% to $1,630.83 an ounce.
Copper prices also strengthened, with benchmark London Metal Exchange copper futures rising 0.4% to $13,693.58 per tonne, while U.S. Copper Futures held steady at $6.36 per pound.
Oil prices fell sharply on Monday as hopes for renewed diplomacy between the United States and Iran prompted investors to unwind much of the geopolitical premium that had driven crude prices to multi-month highs last week.
Brent crude futures dropped 6% to $90.93 per barrel by 06:11 GMT after briefly trading below the $90 level earlier in the session. U.S. West Texas Intermediate (WTI) futures also declined, falling 6.1% to $83.83 per barrel.
Markets react to improving diplomatic outlook
Crude prices had surged toward $100 per barrel last week after escalating military action raised fears that oil exports from the Middle East could face significant disruption.
Sentiment shifted after Washington suspended military strikes following 13 consecutive nights of operations, signalling a willingness to give diplomatic efforts an opportunity to progress.
Tehran responded by indicating it would also pause retaliatory attacks while the United States maintained its military suspension, although both countries stressed they remain ready to resume military action if negotiations fail.
Investors were further encouraged by reports that China is working to restart diplomatic discussions between Washington and Tehran, increasing expectations that the conflict may return to the negotiating table.
ING analysts said the sharp decline in crude prices reflects the market’s willingness to quickly remove risk premiums whenever geopolitical tensions begin to ease. However, the bank cautioned that uncertainty remains high and warned it is too early to conclude that a lasting resolution has been achieved.
Shipping concerns continue to support long-term risks
Although the immediate geopolitical outlook has improved, traders continue to monitor shipping activity through key energy corridors.
Traffic through both the Strait of Hormuz and the Bab el-Mandeb Strait remained below normal over the weekend following recent attacks linked to Houthi forces, highlighting that logistical risks have not disappeared.
ANZ noted that the market has so far been supported by lower Chinese crude demand, emergency stock releases and alternative Saudi export routes that bypass the Strait of Hormuz.
However, the bank warned that these mitigating factors may become less effective as strategic reserves decline, commercial inventories tighten and transport risks remain elevated. Should supply disruptions worsen again, oil prices could quickly resume their upward trend.
