ADVFN UK Market News

Author: Fiona Craig

  • European shares steady as Trump delays deadline for Iran power plant strikes: DAX, CAC, FTSE100

    European shares steady as Trump delays deadline for Iran power plant strikes: DAX, CAC, FTSE100

    European equities traded largely flat on Friday while oil prices stayed elevated after U.S. President Donald Trump pushed back the deadline for potential air strikes on Iranian power facilities to April 6.

    At 08:02 GMT, the pan-European Stoxx 600 showed little movement, with Germany’s DAX and France’s CAC 40 also hovering near unchanged levels. The U.K.’s FTSE 100 edged up about 0.4%.

    In a social media post on Thursday, Trump said the extension was granted following a request from the Iranian government, which he claimed has been holding ongoing discussions with Washington. Iranian officials, however, have denied that negotiations with the United States are underway.

    The situation follows an ultimatum issued by Trump last week warning that Iran’s energy infrastructure could be targeted unless Tehran moved within 48 hours to reopen the Strait of Hormuz. On Monday, he extended that deadline to Friday.

    Despite the warning, tanker traffic through the Strait of Hormuz remains severely disrupted. The strategic waterway along Iran’s southern coastline carries roughly 20% of global oil shipments, and its closure has intensified pressure on the global economy, restricting key energy supplies and heightening fears of inflation driven by rising energy costs.

    There were few indications that a resolution to the conflict was close. The confrontation has persisted since joint U.S. and Israeli forces launched strikes on Iran in late February, and reports on Friday suggested that Israel and Iran had exchanged additional missile attacks.

    Diplomats from the Group of Seven are expected to meet in France, where Washington’s push for international assistance to reopen the Strait of Hormuz is likely to be a central topic. So far, those appeals have largely met resistance.

    Amid the geopolitical tension, oil prices remained firm as the volatile trading week drew toward its end. Brent crude futures for May delivery, the global benchmark, were last up 1.2% at $109.25 per barrel, recovering part of the losses seen earlier in the week and remaining well above levels recorded before the conflict began.

  • AstraZeneca shares rise after encouraging COPD trial results

    AstraZeneca shares rise after encouraging COPD trial results

    AstraZeneca PLC (LSE:AZN) shares climbed 2.8% on Friday after the company reported that its experimental therapy tozorakimab achieved the primary endpoint in two Phase III trials targeting chronic obstructive pulmonary disease (COPD).

    The pharmaceutical group released the findings from the OBERON and TITANIA studies on Thursday. The trials showed that tozorakimab significantly lowered the annualised rate of moderate-to-severe COPD flare-ups compared with placebo, both in the key group of former smokers and across the broader patient population.

    According to AstraZeneca, the treatment was generally well tolerated and demonstrated a favourable safety profile during the studies.

    Tozorakimab is a monoclonal antibody designed to target interleukin-33 (IL-33), blocking signalling from both the reduced and oxidised forms of the protein. The trials evaluated the therapy in patients who continued to experience COPD exacerbations despite receiving inhaled standard treatments. Participants were given either 300 mg of tozorakimab or a placebo every four weeks alongside standard care.

    COPD affects nearly 400 million people worldwide and ranks as the third leading cause of death globally. More than half of patients still suffer exacerbations even while receiving inhaled standard therapies, increasing their risk of serious cardiopulmonary complications and death.

    Across the two trials, 2,306 patients were enrolled regardless of their blood eosinophil levels, smoking history or stage of lung function impairment. Researchers assessed the annualised rate of moderate-to-severe COPD exacerbations over a 52-week treatment period.

    AstraZeneca said complete data from the OBERON and TITANIA trials will be presented at a forthcoming medical conference. Additional Phase III studies of tozorakimab in COPD—PROSPERO and MIRANDA—are currently underway. The therapy is also being evaluated in a Phase III trial for severe viral lower respiratory tract disease and in a Phase II study for asthma.

  • Pernod Ricard shares trim losses as investors assess merger talks

    Pernod Ricard shares trim losses as investors assess merger talks

    Pernod Ricard (EU:RI) shares trimmed earlier losses on Friday as investors reassessed reports that the French drinks group is in discussions about a potential combination with Jack Daniel’s producer Brown-Forman (NYSE:BF.A).

    The stock had dropped sharply in the previous session after Pernod Ricard (EU:RI) confirmed it was exploring a possible deal with the U.S.-based distiller. By 0744 GMT on Friday, however, the shares had recovered some ground, rising 3.2% to 61.86 euros.

    Analysts at Jefferies, J.P. Morgan and Bernstein suggested that a transaction could carry strategic logic, particularly at a time when the spirits industry is facing softer demand for alcoholic beverages and ongoing uncertainty linked to global trade tensions.

    In a note to clients, Jefferies said a merger could help revive momentum in a sector that has recently struggled to generate meaningful growth.

    Bernstein analysts also cautioned against reading too much into the sharp share-price reaction seen on Thursday. They argued the market’s moves implied a significant shift of value from Pernod Ricard to Brown-Forman and suggested no value would be created, assumptions they said could ultimately prove incorrect.

    However, the firm added that even if a deal were completed, it would not necessarily resolve the industry’s most immediate challenge: generating stronger revenue growth.

    On Thursday, Pernod Ricard shares finished the session down nearly 6% at 59.94 euros, while Brown-Forman gained 9% to close at $25.74.

    J.P. Morgan analysts noted that Pernod Ricard’s already stretched balance sheet could make a transaction of this scale difficult to execute. Nonetheless, they acknowledged the potential strategic benefits, including cost efficiencies and the ability to leverage each company’s distribution networks more effectively.

    Based on Thursday’s closing prices, Brown-Forman had a market value of close to $12 billion, while Pernod Ricard’s market capitalisation stood at roughly 15 billion euros (about $17 billion).

  • Seeing Machines lifts royalties and recurring revenue as vehicle installations top 4.8 million

    Seeing Machines lifts royalties and recurring revenue as vehicle installations top 4.8 million

    Seeing Machines (LSE:SEE) reported mixed results for the half year to 31 December 2025, with adjusted revenue falling 8% to US$23.4 million as income from OEM engineering services and licence agreements declined. However, the company recorded strong growth in recurring revenue streams, with annualised recurring revenue rising to US$14 million and Aftermarket sales increasing 18%, driven by continued demand for its Guardian driver monitoring safety system.

    Automotive production volumes incorporating the company’s technology increased sharply, rising 62% to around 1.1 million vehicles during the period. This expansion boosted higher-margin royalty revenue by 33% to US$8.4 million and helped narrow the adjusted EBITDA loss to US$13.7 million. Cash reserves stood at US$3.4 million at period end, although the balance was later supported by a post-period lump-sum royalty payment and the establishment of a new receivables financing facility.

    The company also strengthened its position in driver and occupant monitoring systems, with more than 4.8 million vehicles globally now using its technology. New programme wins in Europe and Japan, along with growing demand in the Aftermarket segment—including large fleet and autonomous vehicle orders in North America—added to commercial momentum. Seeing Machines is also developing new technologies such as 3D Cabin Perception Mapping and impairment detection tools aligned with emerging U.S. safety priorities, alongside its Future Mobility Group initiatives.

    These developments are expected to position the company to benefit from the implementation of Europe’s General Safety Regulation (GSR) requirements, which are anticipated to drive further royalty growth. Management continues to target positive adjusted EBITDA in the second half of FY2026 while also working to refinance a convertible note due in 2026.

    From an outlook perspective, the company still faces financial challenges, including ongoing losses and negative operating cash flow. Near-term technical indicators also appear weak. However, management commentary points to regulatory tailwinds, expanding automotive adoption and cost-control measures aimed at achieving cash-flow breakeven.

    More about Seeing Machines

    Seeing Machines is an Australia-based technology company specialising in AI-powered, vision-based monitoring systems designed to improve safety in transport. Its solutions track driver attention and cognitive state using computer vision, embedded processing and advanced optics. The technology is used across automotive, commercial fleet, off-road and aviation sectors, supplying driver and occupant monitoring systems to global automotive manufacturers, Tier 1 suppliers and fleet operators.

  • ImmuPharma advances P140 patent strategy while pursuing 2026 licensing deal

    ImmuPharma advances P140 patent strategy while pursuing 2026 licensing deal

    ImmuPharma (LSE:IMM) has reported progress in strengthening the intellectual property and scientific foundation of its P140 autoimmune technology platform. The company recently received a supportive first Combined Search and Examination Report for a UK patent application submitted in September 2025. As the next step, management plans to file under the Patent Cooperation Treaty to extend patent protection across major commercial markets, highlighting the strategic importance of P140 within its development pipeline.

    Further supporting the programme, a new study designed to stress test the associated diagnostic and reinforce statistical reliability delivered positive results that strengthen the patent position. In parallel, the company is preparing a scientific manuscript explaining the mechanism of action of P140 for submission to a peer-reviewed journal. ImmuPharma also continues to engage with potential partners, including meetings at the Bio Europe Spring conference, as it works toward securing a licensing agreement for P140 in 2026. Such a deal could play a significant role in shaping the company’s future revenue prospects and strategic positioning within the sector.

    From an outlook perspective, the company remains constrained by weak financial fundamentals, including minimal revenue, ongoing losses, continued cash burn and negative equity. Technical indicators present a mixed picture but show some modest support relative to the 200-day average. Valuation metrics remain challenging due to the lack of profitability and the absence of a dividend.

    More about ImmuPharma PLC

    ImmuPharma PLC is a UK-listed specialty biopharmaceutical company focused on the discovery and development of peptide-based therapies. Its research programmes target autoimmune conditions and anti-infective indications, positioning the company within a specialised segment of the biopharmaceutical industry focused on precision treatments for immune-related diseases.

  • Avacta launches £10m equity raise to support oncology pipeline development

    Avacta launches £10m equity raise to support oncology pipeline development

    Avacta Group plc (LSE:AVCT) has announced plans to raise approximately £10 million through a discounted equity placing and subscription involving around 15.9 million new shares priced at 63 pence each. Zeus Capital is acting as sole bookrunner for the transaction. The company expects the net proceeds to fund research and development activities as well as general working capital, extending its cash runway into early Q1 2027 and beyond the anticipated Phase 1a data readout for AVA6103.

    The capital raise is intended to support continued clinical progress across Avacta’s oncology pipeline. This includes Phase 1b expansion cohorts for faridoxorubicin (AVA6000) across multiple cancer indications and the planned initiation of dosing for AVA6103, a pre|CISION-based exatecan peptide drug conjugate. Management has indicated it intends to retain full ownership of AVA6103 at least until the initial Phase 1a data expected in late 2026. Participation by company directors in the subscription is seen as a signal of internal confidence and positions the group for potential future partnership discussions around its lead assets and next-generation candidate AVA6207.

    From an outlook perspective, Avacta continues to face financial pressures, reflected in weak profitability and bearish technical indicators. Although the company is making progress with its clinical programmes, funding constraints and the absence of major commercial partnerships remain key risks. Valuation metrics also appear challenging given negative earnings and the lack of a dividend.

    More about Avacta Group plc

    Avacta Group plc is a clinical-stage biopharmaceutical and life sciences company developing cancer therapies using its proprietary pre|CISION tumour-activated drug delivery platform. The technology supports the development of peptide drug conjugates designed to deliver highly potent cancer treatments directly within the tumour microenvironment, aiming to improve effectiveness while reducing systemic toxicity compared with conventional antibody drug conjugates.

  • 80 Mile’s Jameson stake valued at US$104m as Greenland Energy begins Nasdaq trading

    80 Mile’s Jameson stake valued at US$104m as Greenland Energy begins Nasdaq trading

    80 Mile Plc (LSE:80M) has announced that Pelican Acquisition Corporation has completed its acquisition of Greenland Exploration Limited, which has now started trading on Nasdaq as Greenland Energy Company under the ticker GLND. The listing consolidates the Jameson hydrocarbon project in East Greenland within a single U.S.-listed entity. Under the terms of an existing joint venture, GLND can earn up to a 70% interest in the project by funding the drilling of two exploration wells, leaving 80 Mile with a 30% stake. Based on Greenland Energy’s latest market capitalisation, that retained interest is valued at approximately US$104 million.

    The Jameson project spans around two million acres in East Greenland and has undergone extensive technical evaluation. An independent report by Sproule ERCE estimates gross unrisked recoverable prospective oil resources of 13.03 billion barrels (P10), with roughly 3.9 billion barrels potentially attributable to 80 Mile following full earn-in by GLND. Preparations for drilling are advancing, with Halliburton contracted for drilling services, heavy equipment mobilised and logistical arrangements already in place. The Nasdaq listing of Greenland Energy is expected to provide a dedicated capital markets platform to fund and carry out a maiden drilling programme targeted for the second half of 2026, which could significantly reshape 80 Mile’s exposure to one of the world’s largest undeveloped onshore basins.

    From an outlook perspective, the company’s financial profile remains challenged by the absence of revenue, widening losses and ongoing cash burn, which increases the risk of future funding needs and potential dilution despite relatively low debt levels. Technical indicators show strong upward momentum and a supportive longer-term trend, although overbought signals suggest some caution in the near term. Valuation remains difficult to assess given negative earnings and the lack of dividend data.

    More about 80 Mile Plc

    80 Mile Plc is an exploration and development company listed on AIM in London, the Frankfurt Stock Exchange and the U.S. OTC market. The group focuses on hydrocarbon and high-grade critical metal projects in Greenland, while also operating an industrial gas and biofuels business in Italy. This diversified portfolio provides exposure across hydrocarbons, base and precious metals, as well as sustainable fuel markets.

  • Chariot secures economic exposure to producing Angolan oil assets

    Chariot secures economic exposure to producing Angolan oil assets

    Chariot (LSE:CHAR) has arranged financing that will give it economic exposure to producing offshore oil assets in Angola by supporting Etu Energias’ acquisition of stakes in Blocks 14 and 14K. The company has provided a US$12 million deposit and related transaction costs to help fund Etu’s purchase of a 20% working interest in Block 14 and a 10% stake in Block 14K. The transaction is also supported by an acquisition financing facility from Shell Western Supply and Trading, which will be repaid through future oil offtake.

    The funding package fully supports the acquisition and positions Chariot to benefit from long-term production-linked cash flows equivalent to roughly 4,000 barrels of oil per day. At an assumed oil price of US$60 per barrel, the arrangement is estimated to represent a net asset value exceeding US$100 million. The deal represents a strategic step for Chariot as it moves into material production within Angola’s established offshore basin, leveraging existing infrastructure operated by Chevron. Completion of the transaction is expected in the second half of 2026, subject to regulatory approvals.

    From an outlook perspective, the company continues to face financial pressures, including ongoing losses and bearish technical indicators. However, strategic developments such as partnerships and the company’s expanding focus on renewable energy projects may provide potential for longer-term improvement. Valuation remains constrained by the company’s current lack of profitability.

    More about Chariot Limited

    Chariot Limited is an Africa-focused energy group with two main business areas: upstream oil and gas and renewable power development. Its oil and gas portfolio spans Angola, Morocco and Namibia, while its renewable energy division focuses on power generation and trading in South Africa as well as advancing power-to-mining and green hydrogen projects, including Project Nour in Mauritania.

  • GB Group secures £175m refinancing to enhance long-term financial flexibility

    GB Group secures £175m refinancing to enhance long-term financial flexibility

    GB Group plc (LSE:GBG), the London-listed identity technology specialist, has completed a refinancing of its revolving credit facility, arranging a new unsecured £175 million facility that extends the maturity to September 2030. The new agreement replaces the company’s previous secured facility, which had been due to expire in July 2027, providing the group with a longer-term funding structure.

    The refinancing was arranged with a syndicate of existing and new banking partners, including HSBC Innovation Bank, NatWest, Barclays and Fifth Third Bank. While the commercial terms remain broadly similar to the previous arrangement, the extended tenor and additional extension options are expected to improve the group’s capital flexibility and strengthen its balance sheet ahead of its upcoming full-year trading update.

    GB Group operates a global platform providing identity verification and fraud prevention services designed to support secure digital transactions and protect businesses from fraud. With more than 1,000 employees, the company delivers data-driven identity solutions to a wide international client base and plays a key role in enabling trust within digital ecosystems.

    From an outlook perspective, GB Group benefits from strong financial performance and ongoing strategic initiatives, including share buybacks and improvements to its market listing profile, which support shareholder value. However, relatively high valuation metrics and mixed technical indicators suggest a degree of caution. While operational improvements and strategic developments provide positive momentum, elevated price-to-earnings levels and challenges in certain business segments temper the overall outlook.

    More about GB Group plc

    GB Group plc is a global identity technology company that enables individuals to securely verify their identity and address across digital channels. The FTSE 250-listed business provides mission-critical identity verification and fraud prevention services to more than 20,000 organisations worldwide, helping businesses combat digital crime, meet regulatory requirements and support secure growth across multiple industries.

  • Europa Oil & Gas secures extension for key Irish offshore gas licence

    Europa Oil & Gas secures extension for key Irish offshore gas licence

    Europa Oil & Gas (LSE:EOG) has received approval from Ireland’s Department of Climate, Energy and the Environment to extend Phase 1 of its FEL 4/19 offshore licence until 31 January 2028. The additional time will allow the company to carry out further technical work and seek a partner to help progress development of the licence area.

    The FEL 4/19 block contains the Inishkea West gas prospect, estimated to hold around 1.5 trillion cubic feet of gas. Europa describes the prospect as a relatively low-risk asset that could serve as a strategic domestic gas source for Ireland with lower emissions compared with imported alternatives. The company also noted the prospect’s proximity to existing infrastructure, which could enable faster development should a commercial discovery be made, potentially reducing Ireland’s dependence on imported gas while supporting the country’s energy transition objectives.

    From an outlook perspective, Europa faces financial challenges, including declines in revenue and profitability. However, recent corporate developments and some positive technical indicators provide a more balanced view, suggesting potential improvement over time. While valuation metrics remain pressured due to current unprofitability, insider confidence and progress on key strategic assets may offer longer-term upside.

    More about Europa Oil & Gas (Holdings) plc

    Europa Oil & Gas (Holdings) plc is an AIM-listed exploration, development and production company focused on oil and gas projects in the UK, Ireland and West Africa. Its portfolio includes several offshore Irish licences, including FEL 4/19, where the company is targeting gas resources that could contribute to lower-emission energy supply and support regional energy transition goals.