ADVFN UK Market News

Author: Fiona Craig

  • Agronomics Returns to Profit as Clean Food Investments Rebound

    Agronomics Returns to Profit as Clean Food Investments Rebound

    Agronomics (LSE:ANIC) reported a net profit of £10 million for the six months ended 31 December 2025, marking a significant reversal from prior losses. The improvement was largely driven by £10.7 million in net investment gains, while operating expenses remained relatively contained. Net asset value per share climbed 11.7% to 13.78 pence, lifting total net assets to £140 million. Despite the uplift, the shares continue to trade at roughly a 55% discount to NAV, reflecting ongoing market caution toward the sector.

    Portfolio performance was supported by valuation gains in Blue Nalu and Liberation Bioindustries, as well as favourable currency movements and equity-based transaction structures. These positives were partially offset by an earlier £11.9 million impairment related to Meatable. Across the portfolio, several companies achieved regulatory and commercial progress, including securing GRAS approvals for new ingredients and expanding production capacity. Such milestones reinforce Agronomics’ exposure to alternative protein and precision fermentation opportunities, even as funding conditions for clean food ventures remain tight.

    Following the reporting period, the company increased its stake in precision-fermented dairy producer All G with an additional AU$3 million investment, funded through the issuance of new shares priced close to NAV. Agronomics also continued backing more advanced portfolio companies — including SuperMeat, EVERY Company and Blue Nalu — through follow-on financing, signalling a targeted strategy of concentrating capital into businesses viewed as having strong scale-up potential.

    From an outlook perspective, historical losses and sustained negative cash flow continue to weigh on sentiment. Technical indicators remain subdued, with the share price trading below key moving averages and momentum signals pointing lower. Valuation metrics are constrained by the absence of earnings and dividend support, though the company maintains a debt-free balance sheet, even as equity levels have gradually declined.

    More about Agronomics

    Agronomics Limited is an AIM-listed investment firm focused on the clean food and alternative protein space. It backs companies developing cellular agriculture, precision fermentation and other sustainable food technologies, aiming to support businesses as they move from technical validation toward regulatory clearance, commercial rollout and scaled manufacturing in major global markets.

  • MTI Wireless Edge Signals Robust 2025 Profit and Cash Position Ahead of Results

    MTI Wireless Edge Signals Robust 2025 Profit and Cash Position Ahead of Results

    MTI Wireless Edge (LSE:MWE) said unaudited revenue for 2025 is expected to reach approximately $51.5 million, landing at the upper end of market forecasts. Growth was supported by solid contributions across all three operating divisions, with particularly strong momentum in the defence segment.

    The group anticipates EBIT to rise by about 30% compared with the prior year, while earnings per share are projected to come in materially ahead of analyst expectations. Net cash is forecast to total roughly $9.4 million, reflecting healthy cash generation and reinforcing the company’s financial position ahead of publishing its final results in early March 2026.

    Operational strength and favourable corporate developments remain central to the company’s investment case. Record revenue and improved profitability demonstrate execution across its business lines, underpinned by a resilient balance sheet. Market indicators currently point to positive trading momentum, though shares may be approaching overbought territory. On valuation grounds, the stock appears reasonably priced, supported by a moderate earnings multiple and a solid dividend yield.

    More about MTI Wireless Edge

    MTI Wireless Edge is a technology group headquartered in Israel, delivering communication and radio frequency solutions to defence, commercial and industrial markets worldwide. Its activities span advanced antenna systems, water control and irrigation management technologies, as well as RF and microwave engineering, integration and consulting services. The company maintains a strong presence in defence and utility-focused applications.

  • Upland Resources Secures £2 Million to Advance Southeast Asia Onshore Growth

    Upland Resources Secures £2 Million to Advance Southeast Asia Onshore Growth

    Upland Resources (LSE:UPL) has announced a £2 million equity raise priced at 3.5p per share to support the expansion of its onshore oil and gas portfolio across Southeast Asia. The placing includes £500,000 from strategic existing shareholders, with approximately £1.5 million expected to come from directors, senior management and technical team members. The level of insider participation signals alignment with the company’s forward strategy and will provide funding for operational and regulatory initiatives.

    The capital injection is earmarked for acquiring stakes in two high-impact onshore licence prospects in Indonesia’s Kutei and North Sumatra basins. One opportunity includes a discovered resource block in Kalimantan with substantial hydrocarbons in place, while the second comprises an underexplored acreage position in Northern Sumatra. Alongside three additional blocks spanning Borneo, Sarawak and Brunei, the portfolio is designed to broaden Upland’s regional exposure and strengthen its position within Southeast Asia’s upstream sector, with ambitions to transition toward mid-cap scale.

    From a financial standpoint, the company continues to face headwinds. It remains pre-revenue and is reporting ongoing losses, with cash outflows increasing in 2024 — factors that underscore funding sensitivity. While the share price sits above longer-term moving averages, near-term momentum has softened. Valuation metrics also provide limited backing given the absence of earnings and no disclosed dividend yield.

    More about Upland Resources

    Upland Resources Limited is an independent upstream oil and gas company listed in London. The group focuses on sourcing, developing and operating high-impact onshore assets in established hydrocarbon basins across Southeast Asia. Its strategy is centred on building a scalable, multi-block portfolio that balances exploration upside with nearer-term development and production opportunities in Sarawak, Indonesia and Brunei.

  • Kavango Submits NI 43-101 Report as Karakubis Drilling Highlights Copper Upside

    Kavango Submits NI 43-101 Report as Karakubis Drilling Highlights Copper Upside

    Kavango Resources (LSE:KAV) has released a National Instrument 43-101 Technical Report covering its Karakubis Project in Botswana’s Kalahari Copper Belt. The independent report, compiled by SLR Consulting, is now accessible via the company’s website and supports Kavango’s ongoing evaluation of strategic pathways for its extensive licence holdings in the region.

    Initial drilling at Karakubis has produced promising signs of copper mineralisation, with all seven maiden diamond drill holes intersecting copper-bearing zones. Spot measurements exceeding 1% copper, alongside evidence of strong hydrothermal alteration, point to a potentially robust mineralised system. Broader geophysical surveys and structural interpretations suggest favourable folding patterns and key lithological contacts comparable to those seen in established deposits elsewhere in the Belt, factors that may increase interest from potential partners or acquirers.

    Despite operational progress, Kavango’s financial profile remains a headwind. The company continues to report sizeable operating losses and notable cash outflows, reflecting its early-stage development status and limited revenue base. That said, it maintains positive shareholder equity and moderate leverage. From a market perspective, trading momentum appears neutral with some recent short-term stabilisation, while valuation metrics remain challenging given a negative earnings profile and the absence of a dividend.

    More about Kavango Resources

    Kavango Resources is a Southern Africa-focused metals exploration and gold production company listed in London and on the Victoria Falls Exchange. The company controls approximately 5,200 square kilometres of contiguous licences within Botswana’s Kalahari Copper Belt, positioned along strike from MMG’s Khoemacau and Sandfire’s Motheo copper-silver operations. Its strategy centres on identifying and advancing copper and associated mineral discoveries in the region.

  • BHP Secures $4.3 Billion in Landmark Silver Streaming Agreement Linked to Antamina

    BHP Secures $4.3 Billion in Landmark Silver Streaming Agreement Linked to Antamina

    BHP (LSE:BHP) has struck a long-term silver streaming deal with Wheaton Precious Metals tied to its 33.75% stake in the Antamina copper and zinc operation in Peru. The transaction, supported by firm silver market dynamics, is described as the largest streaming agreement ever completed based on upfront payment.

    Under the terms, BHP will receive an immediate cash payment of US$4.3 billion, alongside additional proceeds equivalent to 20% of prevailing spot silver prices upon delivery. In exchange, Wheaton will receive silver credits initially equal to 33.75% of Antamina’s output attributable to BHP. That share will reduce to 22.5% after a cumulative 100 million ounces of silver have been delivered over the life of the mine.

    BHP clarified that the agreement does not alter its shareholder rights or operational responsibilities at Antamina, nor does it affect existing commercial contracts. The miner will continue to maintain full exposure to copper, zinc and lead production, effectively monetising silver — which it considers a secondary by-product — without impacting its core commodity mix.

    Management positioned the transaction as part of a broader capital allocation strategy aimed at recycling value from non-core streams into higher-return growth initiatives and shareholder distributions. Combined with a recently announced infrastructure-related transaction, the company expects to generate more than US$6 billion in additional liquidity, reinforcing balance sheet flexibility and supporting long-term returns.

    The streaming arrangement is set to take effect from 1 April 2026, with closing anticipated around that date, subject to standard corporate conditions. No regulatory approvals are required. BHP added that the structure is not expected to increase reported debt, allowing it to enhance liquidity while preserving balance sheet strength.

    More about BHP Group Limited

    BHP Group Limited is a globally diversified mining and resources company headquartered in Australia. Its portfolio includes iron ore, copper, metallurgical and energy coal, and other base metals. The company focuses on large, long-life assets that underpin industrial development and support growing demand linked to global infrastructure and the energy transition.

  • GSK Wins EU Clearance for First Twice-Yearly Biologic in Severe Asthma

    GSK Wins EU Clearance for First Twice-Yearly Biologic in Severe Asthma

    GSK (LSE:GSK) has received approval from the European Commission for Exdensur (depemokimab), marking the first ultra-long-acting biologic authorized in the European Union for severe asthma driven by type 2 inflammation. The therapy is also cleared as an add-on treatment for severe chronic rhinosinusitis with nasal polyps. Backed by data from four Phase III studies demonstrating durable efficacy and a favorable safety profile with dosing just twice per year, the decision bolsters GSK’s respiratory portfolio and introduces a differentiated option that could reshape care standards for patients whose disease remains poorly controlled.

    Clinical results underpinning the approval showed sustained symptom control and reduced exacerbations across both indications, highlighting the potential of depemokimab to address unmet needs in type 2 inflammatory disease. The extended dosing schedule may improve adherence and reduce treatment burden compared with more frequent biologic regimens. Meanwhile, the asset continues to be evaluated in additional late-stage trials, supporting potential expansion into other type 2 inflammatory conditions.

    GSK’s broader investment case remains centered on solid profitability and strengthening operational performance. Management’s guidance for 2026 reflects confidence in continued momentum across key franchises, including respiratory and vaccines. Shares appear reasonably valued and offer a modest dividend yield, though technical indicators suggest overbought conditions in the near term. Investors are also monitoring balance-sheet discipline and the consistency of earnings delivery.

    More about GSK

    GSK is a global biopharmaceutical leader specializing in respiratory and inflammatory diseases. Its portfolio spans vaccines, targeted biologics and inhaled therapies. The company’s strategy is focused on advancing respiratory medicine by addressing underlying disease pathways and slowing progression in asthma, chronic obstructive pulmonary disease (COPD), and rare respiratory disorders.

  • FTSE 100 opens higher as investors await key UK data; SkinBio tumbles

    FTSE 100 opens higher as investors await key UK data; SkinBio tumbles

    UK equities began the week on a firmer footing Monday as investors positioned ahead of a packed economic schedule. Employment figures are due on Tuesday, followed by inflation data on Wednesday — both seen as potentially influential for the Bank of England’s interest rate decision next month.

    By 1029 GMT, the FTSE 100 was up 0.1%, while sterling edged 0.01% lower against the dollar to 1.3647 in GBP/USD trading. Germany’s DAX was little changed and France’s CAC 40 gained 0.3%.

    UK market movers

    Shares of Barratt Redrow PLC (LSE:BTRW) dropped more than 2% after Deutsche Bank lowered its profit projections and cut its price target by 15%, pointing to weakening market conditions and rising fire-safety remediation expenses.

    Analyst Chris Millington reduced the target price to 454 pence from 536 pence but kept a “buy” recommendation on the stock, which last closed at 388.90 pence. The bank trimmed its underlying pre-tax profit forecasts by 9% for fiscal 2026, 6% for FY27, and 7% for FY28.

    Elsewhere, SkinBioTherapeutics PLC (LSE:SBTX) slumped over 37% after announcing an internal probe into former CEO Stuart Ashman over allegations of material financial misrepresentation. The issue will require a 17% reduction in reported 2025 revenue.

    The skincare-focused group said it will reverse £770,000 in royalty income, a move expected to significantly widen operating losses and push fiscal 2026 performance well below market expectations. Management noted that information received late on February 13 raised “significant doubt” about the legitimacy of the royalty revenue.

    Optima Health PLC (LSE:OPT) declined 4.8% after confirming it had agreed to acquire PAM Healthcare Limited for around £100 million. The deal will be funded through £70 million in new borrowing facilities from HSBC and Barclays, alongside a £30 million bridge loan from Deacon Street Partners Limited, controlled by major shareholder Lord Ashcroft.

    Meanwhile, Schroders PLC (LSE:SDR) was cut to “sector perform” by RBC Capital Markets, which argued that limited upside remains for the asset manager’s shares following Nuveen’s approach. RBC lifted its price target to 610 pence to reflect the cash terms outlined in the 612 pence-per-share offer.

    Economic and political backdrop

    On the housing front, asking prices in the UK were largely flat in February after a record jump in January, according to property portal Rightmove. The average price for newly listed homes slipped by £12 to £368,019, following a 2.8% surge the previous month. Even so, prices are still 2.8% higher than in December, marking the strongest start to a year since 2020.

    In political news, the BBC reported that the UK government is considering accelerating plans to raise defense spending to 3% of GDP. Britain had previously pledged to increase annual defense outlays to 2.5% of economic output by 2027, with a goal of reaching 3% after the 2029 general election.

  • NatWest shares advance after UBS lifts profit outlook

    NatWest shares advance after UBS lifts profit outlook

    Shares of NatWest Group PLC (LSE:NWG) gained 4.6% on Monday after UBS increased its earnings projections for the UK lender, citing robust fourth-quarter performance and stronger capital generation.

    The Swiss bank reiterated its “buy” recommendation and kept its 780 pence price target unchanged, implying potential total returns of around 40%. UBS raised its diluted earnings per share estimates by 5% for 2026, 4% for 2027, and 3% for 2028.

    UBS said NatWest’s fourth-quarter pre-tax profit — excluding notable items and litigation costs — came in 7% ahead of market consensus. Net interest income surpassed expectations by 3%, while operating expenses matched forecasts. Loan impairments were 30% better than anticipated, totaling 13 basis points of loans.

    The broker pointed to “strong” operating momentum, noting expansion in both lending and deposits, as well as an 8 basis point rise in net interest margin compared with the market’s expectation of just a 2 basis point increase.

    NatWest’s common equity tier 1 (CET1) ratio stood at 14.0%, 30 basis points above consensus estimates. That figure reflects the £750 million share buyback announced in connection with the Evelyn Partners transaction.

    Looking ahead, UBS said the bank’s 2026 guidance is broadly in line with current market forecasts, while its newly introduced 2028 targets indicate potential upside of 2–3% relative to consensus and appear achievable.

    Those medium-term goals include a return on tangible equity above 18%, compound annual growth in customer assets and liabilities of more than 4%, a cost-to-income ratio below 45%, and an intention to operate with a CET1 ratio of approximately 13.0%.

  • Rosebank Industries shares slip amid $3.05 billion US acquisition talks

    Rosebank Industries shares slip amid $3.05 billion US acquisition talks

    Rosebank Industries (LSE:ROSE) said it is in advanced negotiations to purchase two U.S.-based companies currently owned by private equity firms, in a deal that carries a headline enterprise value of roughly $3.05 billion.

    The company’s shares declined 2.5% following the announcement.

    According to a company statement, the proposed acquisition would be financed through a mix of new borrowing facilities and an equity raise of approximately £1.9 billion.

    Rosebank did not disclose the identities of the businesses involved or provide a timetable for when the transaction might be finalized.

  • Optima Health shares slide after £100 million PAM takeover agreement

    Optima Health shares slide after £100 million PAM takeover agreement

    Shares of Optima Health (LSE:OPT) dropped 4.8% on Monday after the UK-based provider of technology-enabled corporate health and wellbeing services revealed a deal to purchase PAM Healthcare Limited for roughly £100 million.

    The transaction remains subject to approval under Ireland’s Foreign Direct Investment rules. To fund the purchase, Optima has secured £70 million in new borrowing facilities from HSBC and Barclays, alongside a £30 million bridge loan from Deacon Street Partners Limited, which is controlled by major shareholder Lord Ashcroft.

    The company plans to refinance the bridge facility through a fully underwritten £35 million open offer priced at 175 pence per share — a 17.8% discount to the February 13 closing price. The equity raise is expected to proceed after the acquisition is finalized.

    Management said the deal should enhance adjusted earnings per share beginning in the first full financial year after completion, with EPS accretion projected to exceed 25% by the end of year three. On an unaudited pro forma basis, the combined group is expected to generate more than £26 million in underlying adjusted EBITDA before accounting for synergies.

    “This transformational acquisition underscores our intent in delivering our stated strategic objectives and cements Optima’s position in its attractive and growing market,” said Jonathan Thomas, Chief Executive Officer of Optima Health.

    Founded in 2004, PAM reported unaudited revenue of about £66.6 million for the year ended December 31, 2025, alongside adjusted EBITDA of £8.2 million. The business serves more than 1.5 million employees and works with over 1,500 organizations.

    Following the acquisition, Optima is set to become the clear market leader, with an estimated 15% pro forma market share. The transaction also advances the company toward its longer-term goal of reaching a 25% share of the market. Management expects annual revenue and cost synergies to surpass £5 million once the integration process is complete.