Author: Fiona Craig

U.S. stock futures traded cautiously on Tuesday as investors focused on the upcoming Federal Reserve interest rate announcement scheduled for Wednesday. Attention is also on August retail sales data, which could offer insight into consumer behavior amid concerns about President Donald Trump’s import tariffs. Meanwhile, a U.S. appeals court blocked Trump’s effort to remove Fed Governor Lisa Cook, and Oracle is reported to be involved in a potential deal allowing TikTok to continue operating in the United States.

Futures modestly higher

By early Tuesday morning, Dow futures were mostly flat, while S&P 500 contracts gained 0.1% and Nasdaq 100 futures rose 0.2%. The previous session saw Wall Street indexes close higher, buoyed by optimism that the Fed may cut interest rates.

Markets widely expect the central bank to reduce rates by at least 25 basis points, with a smaller chance of a half-point cut. The Federal Open Market Committee began its two-day meeting on Tuesday. Investor sentiment was further supported by Tesla shares climbing 3.6% after CEO Elon Musk purchased roughly $1 billion in stock, and Alphabet reaching a new market value record above $3 trillion.

Retail sales in focus

August retail sales data will shed light on U.S. consumer spending trends. Economists forecast a modest 0.2% increase for the month, down from July’s 0.5% growth. A softening labor market and declining consumer sentiment—dropping to the lowest level since May—have raised concerns about potential tariff-driven inflation eroding household purchasing power. Joanne Hsu of the University of Michigan highlighted that Americans’ current and expected personal finances both weakened by around 8% this month.

Trump barred from removing Fed Governor Cook

A federal appeals court ruled Monday that President Trump cannot fire Fed Governor Lisa Cook, allowing her to participate in this week’s highly anticipated policy meeting. The U.S. Court of Appeals for the D.C. Circuit rejected the Justice Department’s request to delay an earlier ruling that blocked Cook’s removal. Trump is expected to appeal to the Supreme Court.

In related news, economist Stephen Miran’s confirmation to the Fed Board of Governors by the Senate enables him to take part in this week’s meeting.

Oracle could play role in TikTok U.S. operations

CBS News reported that Oracle (NYSE:ORCL) is among a group of firms potentially helping TikTok continue operating in the U.S., pending a framework agreement between Washington and Beijing. Details of the arrangement are still emerging, and ByteDance’s role in the plan has not yet been clarified.

Gold hits new record; crude pauses

Gold climbed to a fresh all-time high near $3,700 per ounce, supported by a weaker dollar ahead of the Fed announcement. Spot gold rose 0.3% to $3,690.87 per ounce, while U.S. December gold futures gained 0.2% to $3,726.50 per ounce.

Meanwhile, oil prices edged slightly lower after recent gains, as traders paused to digest the potential impact of the Fed’s policy decision and ongoing Ukrainian strikes on Russian oil facilities.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices surged to new highs in Asian trade on Tuesday, approaching $3,700 per ounce, fueled by expectations of a Federal Reserve interest rate cut later this week. Investor confidence in the metal was also boosted by concerns surrounding the Fed’s independence, which strengthened gold’s appeal as a safe-haven asset.

Spot gold ticked up 0.1% to $3,681.20 per ounce by 01:42 ET (05:42 GMT), after briefly touching a record $3,689.32 in early trading. December U.S. gold futures remained largely unchanged at $3,718.20 per ounce. The precious metal gained roughly 1% in the previous session, surpassing last week’s record levels.

Fed Rate Cut Expectations Drive Bullion Rally

The recent gold rally is largely attributed to broad market expectations that the Fed will implement a 25-basis-point rate reduction at the conclusion of its September 16–17 meeting—the first since December 2024. A weaker U.S. dollar, trading near one-week lows, provided additional support for bullion.

Political developments in Washington have also contributed to gold’s strength. The U.S. Senate confirmed Stephen Miran, a former economic adviser to President Trump, to the Fed Board of Governors, raising expectations that the central bank may face increased pressure to align with White House priorities. Meanwhile, a U.S. appeals court blocked Trump’s effort to remove Fed Governor Lisa Cook, who is now likely to participate in this week’s Fed meeting, with the president expected to appeal to the Supreme Court.

Other Metals Show Mixed Movements Amid Trade Talks

Silver futures remained largely steady at $42.95 per ounce, while platinum futures fell 0.6% to $1,410.45 per ounce. Copper retreated from recent peaks, with London Metal Exchange benchmark copper down 0.5% at $10,111.60 per ton, following a 15-month high of $10,192 per ton in the prior session. On the U.S. Comex, copper fell 0.7% to $4.69 per pound.

U.S. and Chinese officials resumed trade discussions in Madrid, led by Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, with Vice Premier He Lifeng and negotiator Li Chenggang representing China. The talks produced a framework agreement regarding the U.S. ownership of TikTok, with Presidents Donald Trump and Xi Jinping expected to finalize details later this week. Analysts note that easing tensions between the world’s two largest economies could provide support to industrial metals.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices moved higher in Asian trade on Tuesday, extending recent gains as attacks on Russian energy infrastructure by Ukraine fueled worries over potential disruptions to global supply.

The escalation follows a major Russian offensive in southeastern Ukraine, including the strategic city of Zaporizhzhia, after several weeks of Ukrainian strikes targeting Russian oil facilities. These developments have heightened uncertainty in energy markets.

The U.S. dollar’s recent weakness also provided support to oil, as investors priced in expectations that the Federal Reserve could lower interest rates during its upcoming policy meeting. As of 21:54 ET (01:54 GMT), Brent crude for November delivery was up 0.3% at $67.63 per barrel, while West Texas Intermediate gained 0.3% to $63.21 per barrel.

Supply Concerns Amid Ample Global Production

Ukraine has stepped up its attacks on Russian oil infrastructure in recent weeks, particularly after U.S.-mediated peace talks failed to yield meaningful progress. Kyiv’s strategy aims to limit Moscow’s ability to fund its military operations through energy revenues.

At the same time, U.S. President Donald Trump has called for expanded sanctions targeting Russia’s oil sector, including penalties on major buyers such as India and China. India previously faced 50% trade tariffs in August. Trump also urged NATO, the EU, and G7 countries to cut Russian oil purchases and increase trade pressure on these nations.

Despite these geopolitical concerns, global oil supply is expected to remain ample. Rising OPEC output and strong production from non-OPEC nations are projected to boost worldwide oil inventories in the coming months. Meanwhile, demand recovery remains modest, particularly in China, and U.S. fuel consumption is expected to soften during the winter season. Bernstein analysts have warned that Brent could drop to $60 per barrel if supply continues to exceed demand, with a global surplus estimated at 1.9 million barrels per day this quarter. Stricter sanctions on Russia are seen as the main factor capable of pushing prices higher.

Dollar Dynamics and Fed Rate Outlook

A softer dollar in recent weeks has helped support oil prices. The greenback has weakened amid growing market expectations that the Federal Reserve will cut interest rates by at least 25 basis points at its upcoming meeting, reflecting a modest easing in labor market conditions.

While uncertainty remains over the Fed’s long-term rate path due to persistent inflation, lower borrowing costs could stimulate economic activity and potentially increase oil consumption.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities traded cautiously on Tuesday as investors awaited the Federal Reserve’s policy meeting and digested important regional economic data. At 07:05 GMT, Germany’s DAX fell 0.1%, France’s CAC 40 slipped 0.2%, and the UK’s FTSE 100 declined 0.1%.

The Fed begins its latest two-day policy session later in the day, with markets anticipating a potential interest rate cut when the meeting concludes on Wednesday, which could provide support to global markets. Meanwhile, the Bank of England meets later this week but is widely expected to maintain rates on Thursday, after cutting them last month for the fifth time in just over a year.

UK inflation rose to 3.8% in July, the highest among G7 economies and nearly double the Bank of England’s medium-term target. However, employment data released earlier showed a seventh consecutive month of job declines and slowing wage growth, which may ease concerns about persistent inflation pressures. Additional eurozone data due Tuesday includes Italian inflation, German ZEW economic sentiment, and eurozone industrial production.

Investor sentiment was further supported by progress in US-China trade talks in Madrid. Treasury Secretary Scott Bessent confirmed a framework deal on TikTok’s US ownership, with China dropping demands for tariff concessions and the US securing commitments on national security concerns. A conversation between President Donald Trump and President Xi Jinping is expected later this week to finalize details. However, uncertainty remains after Chinese regulators said a preliminary probe found Nvidia had breached anti-monopoly rules.

In corporate news, Anglo American (LSE:AAL) and Codelco finalized an agreement to jointly operate their neighbouring copper mines in Chile, expected to unlock at least $5 billion in value. Jersey-based professional services firm JTC (LSE:JTC) reported first-half profit fell over 60%, as acquisition costs and share-based payments offset revenue gains. UK construction group Kier Group (LSE:KIE) posted stronger-than-expected annual results, reporting a record order book, higher dividends, and a share buyback program.

Oil prices eased slightly, pausing after recent gains amid concerns over potential supply disruptions. At 03:05 ET, Brent crude fell 0.2% to $67.28 per barrel, and West Texas Intermediate fell 0.1% to $63.25 per barrel. Both contracts have risen 1–2% over the past week as Ukraine intensified attacks on Russian oil facilities in response to inconclusive US-brokered peace talks, aiming to limit Moscow’s ability to fund its war efforts.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Anglo American (LSE:AAL) and Chilean state-owned Codelco have finalized an agreement to jointly develop their neighboring copper mines, Los Bronces and Andina, in a deal projected to unlock at least $5 billion in value.

The collaboration will coordinate operations at both sites in central Chile through a joint mine plan, expected to add 2.7 million tonnes of copper production over 21 years once environmental permits are obtained, currently anticipated by 2030. The additional output is projected at around 120,000 tonnes annually, shared equally between the two companies.

The joint plan is expected to reduce unit costs by roughly 15% compared with operating the mines separately, with minimal additional capital investment required. The projected pre-tax net present value increase of $5 billion will be split equally between Anglo American Sur S.A., Anglo American’s 50.1%-owned subsidiary, and Codelco.

Combined production from Los Bronces and Andina in 2024 ranked the mines among the world’s top ten copper producers. The additional 120,000 tonnes per year under the joint plan would elevate them into the top five globally.

The agreement, unanimously approved by both boards, follows a memorandum of understanding signed in February 2025. A new jointly owned and controlled operating company will be established to implement the plan and optimize processing capacity across both mines. Each company will retain full ownership of its assets and continue operating its concessions independently.

Both Anglo American and Codelco will retain the ability to pursue separate projects, including underground expansions, during the agreement’s term. Anglo American Sur’s shareholders include the Anglo American group (50.1%), Mitsubishi Group (20.4%), and Becrux, a Codelco-Mitsui joint venture (29.5%).

The deal remains subject to regulatory and competition approvals, as well as obtaining environmental permits before the joint mine plan can be executed.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

SThree Plc (LSE:STEM) saw its shares fall more than 22% after reporting a 12% decline in third-quarter net fees, with weakness in Germany, the Netherlands, and the UK outweighing growth in the United States and Asia.

Group net fees for the quarter ending 31 August fell to £81.5 million from £92.7 million a year earlier. Contract fees, which account for 83% of total net fees, dropped 13% to £67.9 million, while permanent placements fell 5% to £13.6 million. The contractor order book decreased 6% to £156 million, representing roughly five months of fees. The company reported £42 million in net cash at the quarter’s end.

Regional performance was mixed. Net fees in the US rose 17% to £22.5 million, the Middle East and Asia increased 22% to £5.8 million, and Japan grew 20% to £3.8 million. However, major European markets showed steep declines: Germany fell 21% to £23.6 million, the Netherlands dropped 35% to £11.3 million, and the UK fell 27% to £7 million. Across the rest of Europe, fees were down 16%.

By sector, engineering remained largely stable with a 1% decline, while life sciences fell 12% and technology decreased 22%. Group headcount was 16% lower than a year earlier due to natural attrition and selective hiring as part of efficiency measures.

CEO Timo Lehne noted sequential improvement in performance and highlighted strong results in the US and Middle East and Asia. He also acknowledged ongoing challenges in European new business activity. Lehne emphasized the near-completion of the company’s Technology Improvement Programme and announced plans to increase investment in AI tools to boost efficiency and scalability.

While reaffirming guidance for FY25, the board cautioned that subdued activity is expected to continue into FY26, reflecting prolonged weakness in new business demand. The company also announced plans for a new share buyback program, with details expected early next year.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Trustpilot (LSE:TRST) reported solid momentum in the first half of 2025, achieving both revenue growth and improved profitability. Revenue rose 23% year-on-year to $122.8 million, or 21% at constant currency, while bookings increased 17% to $140 million. Annual recurring revenue grew 29% to $273 million.

Profit before tax rose 45% to $3.7 million, although reported EPS declined due to the absence of a one-off tax credit recorded last year. The company’s net dollar retention rate improved to 103% from 101%, supported by product innovation and expansion among enterprise customers.

Adjusted EBITDA jumped 70% to $18 million, with margins increasing four points to 14.6%. Adjusted free cash flow more than doubled to $15 million. Trustpilot highlighted record enterprise client wins, including Barclays, Boots, Lindt, and Vimeo, while customers paying over $20,000 annually have grown at a 38% CAGR over the past two years. Review volume increased 22% and TrustBox impressions rose 18% year-on-year.

CEO Adrian Blair commented, “Our H1 results demonstrate the momentum of our platform and the strength of our business model. Innovations such as AI review summaries and semantic search are meaningfully enhancing the consumer experience on Trustpilot.” He added that efficiency gains from expanded AI use contributed to improved margins and strong cash generation.

Trustpilot maintained its guidance for high-teens revenue growth and expects the full-year EBITDA margin to align with the first-half performance, exceeding expectations. The company also announced a new £30 million ($40 million) share buyback, reflecting strong cash generation.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

JTC Plc (LSE:JTC) reported that first-half profit fell 62.6% to £6.9 million, down from £18.5 million a year earlier, as acquisition-related costs and share-based payments offset higher revenue. Basic earnings per share came in at 4.16 pence, compared with 11.41 pence in H1 2024.

Reported EBITDA declined 11.8% to £41 million, while underlying EBITDA rose 15.1% to £56.5 million, with the underlying EBITDA margin broadly stable at 32.8% versus 33.4% a year earlier. Revenue grew 17.3% to £172.6 million, supported by record new business wins of £19.5 million and 11% net organic growth. The lifetime value of work won during the period was £267.8 million, based on an average client tenure of 14.2 years, providing visibility of more than £2.4 billion in future revenues.

The Institutional Capital Services division reported revenue of £104.2 million, up 19.1%, with underlying EBITDA of £31.3 million and a 30.1% margin. The Private Capital Services division generated £68.4 million in revenue, up 14.8%, with underlying EBITDA of £25.2 million and a margin of 36.8%.

Geographically, UK and Channel Islands revenue rose to £73.6 million from £66.7 million. In the US, revenue increased to £53.1 million from £46.4 million, representing 30.7% of the group’s total. Revenue in the rest of Europe grew to £20.9 million, and the rest of the world rose to £25 million from £14.3 million, reflecting recent acquisitions.

Net debt at June 30 was £250.7 million, compared with £150.5 million a year earlier, with leverage at 2.06 times underlying EBITDA, slightly above the company’s stated 1.5–2.0 range. Cash conversion was 86%, down from 104% last year. The board declared an interim dividend of 5 pence per share, up 16.3% from 4.3 pence in 2024, payable 24 October to shareholders on the register 26 September, with ex-dividend date 25 September.

After the reporting period, JTC completed the acquisition of Citi Trust on 1 July and announced the proposed purchase of Kleinwort Hambros Trust Company, expected to close in Q4 2025 and anticipated to be earnings accretive in 2026. Full-year expectations remain unchanged, with results expected to align with management guidance.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Google (NASDAQ:GOOGL) has inaugurated a new data centre near London, part of a £5 billion ($6.8 billion) investment to expand its AI-powered services and cloud infrastructure in the UK. The initiative reflects Google’s strategy to meet growing demand for services such as Google Cloud, Search, Maps, and Workspace.

The new facility, located in Waltham Cross, Hertfordshire, incorporates energy-efficient technologies, including air cooling systems and heat recycling. Google plans for its UK operations, including this site, to run on nearly 95% carbon-free energy by 2026. The company is also partnering with Shell PLC (LSE: SHEL) to support grid stability.

The investment is expected to create approximately 8,250 jobs per year across UK businesses during the rollout, supporting government efforts to attract private capital and strengthen digital infrastructure. Finance Minister Rachel Reeves attended the opening, describing the project as “a powerful vote of confidence in the UK economy.”

The development comes amid a global surge in AI and cloud investments by tech companies, intensifying competition in data centre deployment while raising discussions on environmental impact and infrastructure requirements.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

OptiBiotix Health plc (LSE:OPTI) delivered robust financial results for the first half of 2025, reporting a 102% increase in sales and a notable improvement in gross profit margin. The company has strengthened its market presence in the USA and Asia, launched new products, and established partnerships with global distributors.

A recent discovery of a new enzyme for SweetBiotix is expected to reduce manufacturing costs and broaden the product range. The company aims to achieve profitability and positive cash flow by continuing to expand sales, control costs, and improve margins.

About OptiBiotix Health

OptiBiotix Health plc is a life sciences company focused on developing products that modify the human microbiome to prevent and manage diseases and promote wellness. The company specializes in microbial strains, compounds, and formulations used as active ingredients and supplements, targeting obesity, cardiovascular health, and diabetes. OptiBiotix collaborates with international food and healthcare companies to integrate its microbiome modulators into a variety of foods and beverages.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.