Author: Fiona Craig

Firering Strategic Minerals plc (LSE:FRG) has taken full control of its Atex and Alliance Lithium-Tantalum Projects in Côte d’Ivoire after Ricca Resources Limited decided to withdraw from their earn-in agreement. With Ricca stepping back, Firering now holds complete ownership of both projects and is exploring new strategies to unlock their long-term potential. The company still maintains a 10.6% equity stake in Ricca and is pursuing the recovery of funds previously advanced under the partnership. These resources are expected to help accelerate the development of Firering’s flagship Limeco operations, a core driver of its growth strategy.

About Firering Strategic Minerals plc

Firering Strategic Minerals is positioning itself as a key player in both quicklime production and the exploration of critical minerals. Its Limeco project in Zambia is the company’s top priority, with plans to scale production to 600–800 tonnes of quicklime per day to meet demand from copper producers across the Central African Copperbelt. Alongside this, Firering continues to advance its Atex Lithium-Tantalum Project in Côte d’Ivoire, which holds strong potential in lithium and tantalum-niobium—minerals essential to the global transition toward clean energy solutions.

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.

IWG plc (LSE:IWG) delivered its strongest-ever first-half performance in 2025, generating system-wide revenue of $2.2 billion—a 2% rise compared to the same period last year. The company reported notable gains in recurring management fees and a healthier adjusted gross margin. With its balance sheet in solid shape and no refinancing obligations until 2029, IWG has stepped up its shareholder distributions, unveiling an expanded share repurchase initiative. The group is also broadening its footprint by opening additional locations and workspaces, a strategy expected to fuel future growth.

Market sentiment around IWG is supported by technical strength and the positive impact of its enlarged buyback program, which is designed to enhance investor value. Still, a relatively high price-to-earnings ratio points to the risk of overvaluation, while the company’s elevated leverage remains an area of caution. Despite these factors, strong cash flow generation and improved profitability metrics highlight ongoing operational progress, provided financial risks are managed carefully.

About IWG plc

International Workplace Group plc operates the world’s largest network of hybrid workspaces, spanning more than 120 countries under brands such as Regus, Spaces, HQ, and Signature. The company specializes in delivering flexible office solutions to meet the rising demand for adaptable workplace environments.

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.

Aside from today’s meeting between Trump and Zelensky, one of the key events this week is the annual Jackson Hole Economic Policy Symposium, scheduled for August 21-23. The highlight for investors all around the world will be Fed chief Jerome Powell’s speech on Friday.

The latter will likely address, if not Donald Trump’s continued attacks, at least the state of inflation and the outlook for U.S. monetary policy. According to CME’s FedWatch tool, markets are currently pricing in around 82% for the possibility of a 25 bp rate cut at the September meeting.

As for why the move is not expected to be larger, the answer lies in the Fed’s dual mandate: maintain price stability and support maximum employment. At the moment, both areas are sending mixed signals, which complicates the Fed’s decision and offers little comfort to the S&P 500.

On the one hand, job creation has slowed sharply: nonfarm payrolls grew by only 73,000 in July, with significant downward revisions for May and June, which totaled 258,000. This put the three-month average at only 35,000, indicating a sharp slowdown in employment, an argument in favor of a rate cut.

On the other hand, inflationary pressures are re-emerging. While CPI rose by only 0.2% m-o-m in July (vs. 0.3% in June), producer prices (PPI) were much higher than expected: 3.3% y-o-y vs. 2.5% expected, and 0.9% m-o-m vs. 0.2% expected. Core PPI also surprised to the upside, at 3.7% y-o-y and 0.9% m-o-m.

As the recent Beige Book pointed out, tariffs are increasingly filtering into prices. This does not mean that the Fed will refrain entirely from cutting rates in September, but it is likely to rule out a larger move — say, 50 basis points — making a smaller step, such as 25 basis points, more likely.

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.

Qantas Airways (ASX:QAN) has been slapped with a record A$90 million (US$59 million / R$318.14 million) fine by the Federal Court of Australia for unlawfully terminating around 1,820 ground staff during the Covid-19 pandemic. The ruling concludes a prolonged legal fight led by the Transport Workers Union.

Judge Michael Lee described the airline’s actions as the “most serious violation” of the Fair Work Act, emphasizing that the punishment aims to discourage other firms from similar behavior. “Any lower penalty would not have the effect of preventing similar violations in the future,” he added.

Of the total fine, A$50 million will be directed to the union that initiated the case, while a portion of the remainder may be allocated to affected employees. This penalty comes on top of a 2024 settlement, when Qantas paid A$120 million in compensation following unsuccessful legal appeals.

The layoffs occurred in 2020, at the peak of the pandemic, when ground operations were outsourced under then-CEO Alan Joyce. The airline cited financial strain caused by the global aviation collapse. The union, however, argued the move was designed to sidestep wage negotiations and potential strikes.

Judge Lee also took aim at Qantas’ corporate practices, describing the company’s defense as “relentless and aggressive.” He questioned whether the airline’s expressed remorse was sincere or simply “performative remorse” driven by concerns over its public image.

Current CEO Vanessa Hudson acknowledged the ruling and publicly apologized to former staff, stating that Qantas is committed to rebuilding trust with employees and customers after years of tarnishing its reputation.

This case comes amid other recent controversies for the airline, including fines for selling tickets on canceled flights. Analysts note that while the financial hit is significant, the court’s decision primarily damages Qantas’ reputation.

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 opened cautiously on Monday, with investors digesting the news that the Trump-Putin summit concluded without a major breakthrough on the Ukraine conflict. The U.S. dollar showed some volatility amid the geopolitical uncertainty.

Later today, Ukrainian President Volodymyr Zelenskyy and several European leaders are scheduled to meet with U.S. President Donald Trump at the White House to discuss ongoing peace initiatives, security guarantees, territorial matters, and additional support for Ukraine.

In market moves, the CAC 40 fell about 0.7%, Germany’s DAX dipped 0.2%, and the FTSE 100 edged down 0.1%, reflecting a cautious trading mood.

Several individual stocks outperformed:

• Sectra (BIT:1SECT) rose after signing an agreement to provide its Sectra One Cloud platform to six hospitals in Ontario, Canada, boosting its medical imaging and cybersecurity footprint.
• Valneva (EU:VLA) jumped following Health Canada approval for its single-dose chikungunya vaccine, IXCHIQ, for people aged 12 and above.
• Novo Nordisk (NYSE:NVO) gained after receiving U.S. FDA approval for its weight-loss drug Wegovy to treat a serious liver disease.
• Vestas Wind Systems (TG:VWSB) climbed after the U.S. released favorable guidance on which projects qualify for wind and solar tax incentives.

Overall, European markets are showing mixed performance, with selective gains driven by corporate news amid broader geopolitical uncertainty.

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.

U.S. stock futures are signaling a modest decline at Monday’s open, following two consecutive weeks of gains. Investors may look to lock in recent profits after the Nasdaq and S&P 500 hit record highs.

Trading activity could be muted, as markets anticipate a White House meeting between President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and other European leaders later today. The meeting follows Trump’s Friday talks in Alaska with Russian President Vladimir Putin, which made some progress but did not produce a formal agreement to end the war in Ukraine.

On Sunday, Trump posted on Truth Social, suggesting Zelenskyy could act “with Russia almost immediately, if he wants to.”

Investors are also eyeing comments from central bank officials at the Jackson Hole Economic Symposium later this week, alongside earnings reports from major retailers including Walmart (NYSE:WMT) and Home Depot (NYSE:HD).

Last week, stocks showed mixed performance. On Friday, the Nasdaq and S&P 500 declined, while the Dow posted a modest gain. Specifically:

• Dow Jones: +34.86 points, +0.1%, to 44,946.12
• S&P 500: -18.74 points, -0.3%, to 6,449.80
• Nasdaq: -87.69 points, -0.4%, to 21,622.98

Despite Friday’s drop, the weekly performance remained positive, with the Nasdaq up 0.8%, S&P 500 up 0.9%, and the Dow climbing 1.7%.

Market weakness was influenced by mixed U.S. economic data, raising questions about the economy and interest rate trends.

• The Commerce Department reported retail sales rose 0.5% in July, in line with forecasts, after a revised 0.9% increase in June. Excluding autos, sales climbed 0.3%, matching expectations.
• Meanwhile, the University of Michigan reported consumer sentiment fell to 58.6 in August, down from 61.7 in July, below the expected 62.0.
• Inflation expectations also climbed, with one-year forecasts rising to 4.9% from 4.5%, and long-term expectations increasing to 3.9% from 3.4%.
• The Labor Department noted import prices exceeded estimates in July, while industrial production slightly contracted.

Sector performance was uneven: semiconductors led declines, with the Philadelphia Semiconductor Index down 2.3%, and bank stocks falling, as the KBW Bank Index lost 2.0%. Oil service and steel stocks also lagged, while healthcare, pharmaceutical, and biotech sectors recorded gains.

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 inched higher on Monday as markets awaited a critical meeting in Washington between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky, with traders evaluating potential impacts on global supply.

At 07:45 ET (11:45 GMT), Brent crude for October delivery rose 0.5% to $66.18 per barrel, while West Texas Intermediate (WTI) gained 0.7% to $62.41 per barrel. Both contracts had dropped nearly 1.5% on Friday, finishing the week with sharp losses following the U.S.-Russia summit.

Focus on Washington

Trump is scheduled to meet Zelensky later in the day, alongside several European leaders, as they work toward a potential peace agreement to end Europe’s deadliest war in eight decades. European officials aim to prevent any outcome that could compromise Ukraine’s territorial integrity.

This follows a prior summit in Alaska between Trump and Russian President Vladimir Putin, which failed to produce tangible results. Earlier, Trump stated that a ceasefire would be his “key demand,” even threatening to leave the talks and impose tougher measures on Moscow. The statement had fueled concerns about constrained supply.

“While talks failed to secure a ceasefire, the tone and the absence of ’severe consequences’ for the lack of a truce, reduce, or at least delay, the risks of stricter sanctions,” ING analysts noted in a report.

Meanwhile, White House trade adviser Peter Navarro warned Monday that India’s purchases of Russian crude were funding Moscow’s war in Ukraine and needed to stop.

“India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs,” Navarro said.

China and India remain the largest buyers of Russian crude. In response, Trump has imposed an additional 25% tariff on Indian goods, effective August 27, citing the country’s Russian oil imports.

“Ultimately, Russia still wants Ukraine to cede territory, something Ukraine will be very hesitant to do, particularly without very strong security guarantees from the US and Europe,” ING analysts added.

“Ultimately, the reduced risk of tougher sanctions and secondary tariffs should allow bearish oil fundamentals to become the dominant driver for oil prices moving forward,” they said.

Eyes on Jackson Hole

Outside geopolitical developments, investors are also watching for hints from Federal Reserve Chair Jerome Powell at this week’s Jackson Hole symposium, particularly regarding the pace of U.S. interest rate cuts.

Markets widely anticipate a 25-basis-point rate cut at the Fed’s September meeting, though last week’s hotter-than-expected producer price data has effectively ruled out a larger 50-point reduction. Lower interest rates typically stimulate economic activity, which in turn boosts energy demand.

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.

London’s stock market opened slightly higher on Monday, with investors focused on high-stakes discussions in Washington between Ukrainian President Volodymyr Zelensky, European leaders, and U.S. President Donald Trump.

Trump is set to host Zelensky along with key European officials to explore terms for a potential peace agreement, following his meeting with Russian President Vladimir Putin in Alaska last Friday. Over the weekend, Trump suggested that Ukraine could quickly bring the conflict to an end by agreeing to Moscow’s demands.

By 07:27 GMT, the FTSE 100 had gained 0.1%, while the British pound remained largely stable against the U.S. dollar, maintaining levels above $1.35. Meanwhile, European markets were weaker, with Germany’s DAX down 0.5% and France’s CAC 40 falling 0.4%.

Tesla slashes UK leasing rates amid declining sales

Tesla Inc (NASDAQ:TSLA) is reportedly offering up to 40% discounts to UK car leasing companies in an effort to counter slowing sales and address limited storage capacity, according to The Times. The price reductions are passed on to customers via lower monthly payment plans, industry sources said.

The electric vehicle giant is facing shrinking market share across global markets, prompting more aggressive pricing in the UK.

UK extends electric van and truck incentives

The UK government confirmed it will continue offering discounts for electric vans and trucks until at least 2027. Lilian Greenwood, Minister for the Future of Roads, announced the extension of the program on Monday, supporting the transition to cleaner commercial vehicles.

UK housing market sees sharp summer price drop

The UK property market is experiencing notable declines, with Rightmove (LSE:RMV) reporting that average house prices have fallen nearly £11,000 compared with three months ago.

Although summer price adjustments are typical, June and July’s decreases were larger than usual, influenced in part by a stamp duty increase that had earlier driven strong demand. Lower asking prices and reduced borrowing costs contributed to July recording the highest number of property sales since 2020—an 8% rise from last 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.

Gold prices edged higher on Monday, recovering from a more than two-week low amid lingering uncertainty over the Russia-Ukraine conflict.

At 04:55 ET (08:55 GMT), spot gold was up 0.4% at $3,348.30 per ounce, while October gold futures rose 0.3% to $3,393.97 per ounce. The precious metal had fallen last week following a meeting between U.S. President Donald Trump and Russian President Vladimir Putin to discuss a potential peace deal in Ukraine.

Trump Meets Zelensky, European Leaders

Friday’s meeting between Trump and Putin failed to yield a ceasefire, shifting attention to a Monday gathering at the White House with Trump, Ukrainian President Volodymyr Zelensky, and leading European officials.

Reports suggest Trump may press Ukraine to cede some territory to Russia to facilitate a peace deal—a stance Kiev has consistently rejected. Trump has also indicated that Ukraine would need to relinquish Crimea and pause NATO accession aspirations to reach an agreement with Russia.

Markets are approaching the meeting with caution, supporting demand for safe-haven assets like gold, even as broader risk appetite shows tentative improvement. A prior White House meeting between Trump and Zelensky in February ended without results following a tense exchange between the leaders.

UBS Raises Gold Forecasts

UBS has raised its long-term real gold price forecast from $2,200 to $2,800 per ounce, implying nominal prices around $3,100 by 2030, adjusted for inflation. Short- and medium-term projections remain unchanged, though the bank expects gold to reach new highs in upcoming quarters before moderating toward the end of next year or early 2027.

“Prices should ease thereafter, but the correction is unlikely to be steep enough to bring gold back to previous cycle lows,” said strategists led by Joni Teves. “Instead, we see a scenario where, after a period of moderation and stabilization, gold settles at significantly higher levels than in previous cycles.”

The revision reflects “structurally higher production costs” and limited expected growth in mining supply, as producers prioritize organic expansion, regional consolidation, and portfolio adjustments over large-scale mergers. UBS also highlighted gold’s “expanding investor base” and its strategic role amid global political and trade shifts, elevated macro risks, and persistent geopolitical tensions.

“In a world of shifting trade and political dynamics, high macroeconomic risks, and ongoing geopolitical tensions, diversification is more important than ever,” they added. “We think gold presents investors with one of the cleanest ways to hedge against these risks.”

All Eyes on Jackson Hole

Focus now turns to Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium, expected to provide guidance on the central bank’s rate strategy. CME FedWatch on Monday showed more than an 83% probability of a 25-basis-point rate cut in September, slightly lower than near certainty seen last week.

Expectations for rate cuts were tempered by higher-than-expected producer inflation, raising concerns about the impact of Trump’s tariffs. Despite this, the U.S. dollar remained range-bound Monday after last week’s losses.

Mixed Moves in Other Metals

Other precious metals traded mixed, with platinum futures down 0.2% at $1,343.00 per ounce, while silver rose 0.4% to $38.133 per ounce.

Industrial metals saw declines as well, with London Metal Exchange copper futures falling 0.3% to $9,750.53 per ton and COMEX copper futures down 0.3% at $4.4790 per pound. Copper retreated late last week after weaker-than-expected Chinese industrial production and fixed-asset investment data, fueling concerns about demand in the world’s largest importer.

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.

The U.S. dollar edged higher on Monday as markets braced for a week dominated by diplomatic efforts to resolve the Ukraine conflict and the Federal Reserve’s closely watched Jackson Hole symposium.

At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose 0.2% to 97.890, rebounding from a 0.4% decline last week.

Zelensky Travels to Washington

Following last week’s meeting between U.S. President Donald Trump and Russian President Vladimir Putin, which failed to produce a ceasefire in Ukraine, attention now turns to Washington. There, Trump will meet with Ukrainian President Volodymyr Zelensky, joined by several European leaders. Zelensky may face pressure to accept a settlement that could favor Russia, including relinquishing part of the eastern Donetsk region.

Ukraine has previously dismissed any proposals to cede territory. Trump said on Sunday that Zelensky could end the war with Russia “almost immediately” by agreeing to Moscow’s demands.

“Ukraine and Europe have made security guarantees (including those from the U.S.) central to any path toward peace. Any further clarification of this situation today could be welcomed by markets, even though the issue of territory seems intractable,” noted analysts at ING.

Focus Shifts to Jackson Hole

Later in the week, markets will look to the Federal Reserve’s Jackson Hole symposium, where Chairman Jerome Powell is scheduled to speak on the economic outlook and policy framework on Friday.

“It may be too early for Powell to all but confirm a Fed rate cut in September,” ING said. “Yet when the facts of a ’solid’ labor market change, Powell will have to acknowledge it.”

Markets currently price in roughly an 85% probability of a 25-basis-point rate cut next month, meaning Powell would need to adopt a very hawkish stance to alter expectations significantly.

“With risk assets supported and energy prices soft, we expect the dollar to remain under mild pressure as dollar-based investors continue deploying capital,” ING added.

European Currencies Trade in Narrow Ranges

In Europe, EUR/USD fell 0.2% to 1.1671, trading in a narrow band ahead of the meeting of European leaders in Washington to discuss a peace deal for Ukraine. Key European data on Monday includes eurozone trade figures for June, with the week’s highlight being August flash PMIs on Thursday.

“EUR/USD should remain mildly supported in the 1.1650-1.1750 range early in the week but could test 1.1830 if Powell delivers a sufficiently dovish message on Friday,” ING analysts said.

GBP/USD slipped 0.1% to 1.3540 after rising roughly 0.8% last week.

“This reflects credible hawkish signals from the Bank of England, which now has the market pricing just 50 basis points of additional easing. By comparison, the Fed is expected to ease roughly 125 basis points through 2026,” ING added.

“This dynamic should keep GBP/USD supported this week, where a break above 1.3585/3600 could see levels reach 1.3680/3700 by week’s end.”

Quiet Trading in Asia

In Asia, USD/JPY inched higher to 147.22 after data on Friday showed stronger-than-expected Q2 growth in Japan. USD/CNY edged down to 7.1803, trading in a narrow range after July industrial production and retail sales fell short of expectations, prompting renewed calls for government stimulus. AUD/USD gained 0.1% to 0.6516.

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.