Author: Fiona Craig

Petro Matad Limited (LSE:MATD) has announced consistent oil production from its Heron-1 well, which is currently yielding between 150 and 160 barrels per day. While the company works through ongoing payment delays with PetroChina, it is preparing for a more active operational year in 2025. The upcoming work program is designed to streamline operations, cut costs, and boost output.

Beyond its oil operations, Petro Matad is making strategic progress in its renewable energy initiatives, which the company sees as holding substantial long-term value. As part of its broader growth strategy, Petro Matad is also actively seeking partners to support both its conventional oil and future exploration activities.

Company Profile: Petro Matad Limited

Headquartered in Mongolia and listed on London’s AIM market, Petro Matad is engaged in oil exploration and production. While its core business remains petroleum, the company is increasingly expanding into renewable energy, signaling a diversified approach to future energy development.

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.

Rathbones Group PLC (LSE:RAT) has released its interim results for the first half of 2025, showcasing strong operational progress and strategic momentum. A major milestone during the period was the successful transfer of clients and assets from Investec Wealth & Investment (IW&I), boosting expected annual synergies to £47.2 million. Building on this achievement, Rathbones is turning its attention to new growth opportunities, supported by a healthy balance sheet and plans for a share buyback of up to £50 million. The company also announced an increase in its interim dividend.

Although underlying profit before tax experienced a modest decline—largely attributed to market fluctuations—Rathbones remains confident that its full-year performance will meet market expectations. Management anticipates further improvement in profit margins as integration efforts continue. In addition, the company is entering the Model Portfolio Service segment, aiming to deliver sustainable value and long-term capital growth.

Financially, Rathbones continues to perform well, with solid revenue gains and stronger cash flow underpinning a favorable assessment. While technical indicators offer mixed signals, the stock is considered to be fairly valued. Recent corporate developments have enhanced investor confidence, reinforcing the company’s position as a financially sound and strategically focused player in the sector.

Company Overview: Rathbones Group PLC

Operating within the financial services industry, Rathbones Group PLC specializes in investment management, wealth planning, and tailored financial advice. The firm emphasizes trust and long-term client relationships, drawing on the strength and scale of its broader organization to address the evolving needs of individuals and advisers in a complex economic environment.

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 positive start on Tuesday, as investors build on the recent upward momentum that has driven major indexes to record highs. After a mixed but steady session on Monday, markets appear ready to move higher again.

Gains in the Nasdaq and S&P 500 have reflected continued strength in the tech sector and confidence in corporate earnings. The focus now shifts to ongoing trade negotiations and central bank policy updates.

In Stockholm, U.S.-China trade talks are underway, ahead of a looming Friday deadline that could see reciprocal tariffs reinstated. The outcome of these discussions could prove pivotal for market sentiment.

President Donald Trump made his position clear on Monday, stating that “most trading partners that do not negotiate separate trade deals would soon face tariffs of 15 percent to 20 percent on their exports to the United States.”

While optimism around trade has helped lift markets, caution remains ahead of Wednesday’s Federal Reserve announcement. The central bank is widely expected to keep rates unchanged, but investors will be watching closely for guidance on the policy outlook.

Attention is also turning toward the U.S. Labor Department’s monthly jobs report, as well as earnings updates from tech giants like Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Meta Platforms (NASDAQ:META).

Monday’s session saw early gains fade slightly, though the Nasdaq and S&P 500 still closed at new highs. The Nasdaq rose by 70.27 points, or 0.3%, ending the day at 21,178.58. The S&P 500 added 1.13 points to finish at 6,389.77. The Dow Jones Industrial Average slipped by 64.36 points, or 0.1%, to close at 44,837.56.

A late-session boost came from reports of a newly finalized trade deal between the U.S. and European Union, coupled with speculation that the tariff truce with China could be extended for another 90 days.

Under the U.S.-EU agreement, a 15% tariff will apply to European goods—significantly lower than the 30% previously floated. In exchange, the EU committed to buying $750 billion worth of U.S. energy and investing an additional $600 billion into the American economy.

The energy sector led Monday’s winners, as crude oil prices surged on the back of the transatlantic deal. The NYSE Arca Oil Index gained 2.1%, while the Philadelphia Oil Service Index rose 1.8%.

Semiconductor stocks also performed well, with the Philadelphia Semiconductor Index advancing 1.6%. Hardware makers saw strength too, while gold miners, steel producers, and real estate stocks were under pressure.

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.

Major European stock indexes moved higher on Tuesday, buoyed by upbeat corporate earnings and easing fears of a full-blown trade conflict.

Investor sentiment remained cautious, however, as the euro weakened following mixed reactions among EU leaders to a recent trade agreement with the United States. Market participants are also closely monitoring U.S.-China talks taking place in Sweden, where negotiators aim to extend a temporary pause in tariff hikes.

In afternoon trading, France’s CAC 40 gained 1.2%, Germany’s DAX rose 1.1%, and London’s FTSE 100 edged up 0.5%.

Among individual movers, Swiss engineering group ABB (TG:ABB) advanced roughly 1% after landing a contract to support Tata Steel’s decarbonization initiative at its Port Talbot facility in the UK.

Shares of Tobii AB (TG:24T) tumbled 16%. Despite strong Q2 results, the eye-tracking technology firm disappointed investors with forward guidance.

AstraZeneca (LSE:AZN) rose 2.2% in London following second-quarter earnings that came in ahead of forecasts.

Essentra (LSE:ESNT) surged 6% after the manufacturer reaffirmed its full-year outlook and delivered first-half results in line with market projections.

TeamViewer SE (TG:TMV) gained more than 5% as the German software provider reiterated its annual revenue guidance on the back of improved H1 earnings.

In contrast, Stellantis NV (BIT:STLAM) fell 2.4% after reporting a net loss of €2.3 billion ($2.65 billion) for the first half of the year.

Dutch medtech firm Philips (EU:PHIA) jumped 10% after raising its profitability forecast.

Air Liquide (EU:AI) rose 2.6% as the French industrial gas company maintained its margin outlook through 2026 and posted half-year sales in line with analyst expectations.

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.

Shares of Canal+ SA (LSE:CAN) climbed 5.9% on Tuesday after the media and entertainment firm released its first-half 2025 results, which aligned with its recently revised guidance. The report showed modest organic revenue growth, despite headwinds from the loss of key content partnerships.

Revenue for the six-month period ended June 30 reached €3.09 billion, reflecting a 0.9% increase on an organic basis. However, total reported revenue declined by 3.3%, largely due to the end of sublicensing deals, including those with Disney (NYSE:DIS) and the UEFA Champions League.

Analysts had expected revenue of around €3.07 billion, and earnings before interest, tax, and amortization (EBITA) of €229 million, according to UBS. Canal+ outperformed on both fronts, posting EBITA of €246 million—though still below the €315 million recorded in the same period a year earlier.

“I am pleased with all we have accomplished at Canal+ since our listing. We are on track to achieve organic revenue growth in 2025,” said Maxime Saada, Chief Executive Officer of CANAL+.
“Our focus on profitability and cash has started delivering structural improvements, put us in a strong position at the half year, and enabled us to confirm our upgraded guidance.”

The company emphasized its strong operational cash performance, generating a record €416 million in cash flow and €370 million in free cash flow, supported by ongoing efficiency measures.

In the financing arena, Canal+ successfully launched its first Schuldschein loan, raising €285 million after it was oversubscribed by more than twice.

On the M&A front, Canal+ confirmed regulatory approval from South Africa’s Competition Tribunal for its planned acquisition of MultiChoice Group (TG:30R), a deal expected to close by October 8, 2025. The transaction is set to expand Canal+’s total subscriber count to over 40 million across 70 countries.

Looking ahead, the company reiterated its 2025 outlook, projecting EBITA of around €515 million, operating cash flow above €500 million, and free cash flow exceeding €370 million.

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 gained ground on Tuesday, recovering slightly from near three-week lows as easing global trade tensions tempered demand for the safe-haven metal ahead of a pivotal U.S. Federal Reserve policy announcement.

By 04:50 ET (08:50 GMT), spot gold rose 0.4% to $3,327.10 per ounce, while gold futures increased by the same margin to $3,381.00 per ounce.

US-EU trade deal dims gold’s appeal

After four straight sessions of decline, gold prices have been pressured by recent progress in U.S. trade relations, which has reduced immediate demand for haven assets.

The weekend agreement on a trade framework between the U.S. and the European Union eased tensions between two of the world’s largest economies, dampening the short-term need for gold as a safe store of value.

The U.S. Dollar Index surged more than 1% on Monday and continues to trade positively, making dollar-denominated commodities like gold costlier for international buyers.

Still, despite recent softness, gold is expected to hold above $3,000 per ounce as ongoing uncertainty sustains safe-haven interest, according to a Reuters poll of analysts.

The survey of 40 experts produced a median forecast of $3,220 per troy ounce for 2025, up from $3,065 three months earlier. The 2026 projection increased to $3,400 from $3,000.

While trade uncertainties and fiscal risks have kept gold attractive, most analysts point to central banks as the key driver of the metal’s rally, due to their long-term strategy of diversifying reserves away from U.S. dollar dominance.

Fed meeting in focus

Investors are now turning their attention to the U.S. Federal Reserve’s two-day policy meeting, concluding Wednesday, where interest rates are widely expected to remain steady. Market participants will closely analyze any hints regarding future monetary policy.

This cautious stance ahead of the meeting has kept gold prices relatively range-bound, with traders hesitant to make significant moves.

Upcoming U.S. economic releases, including second-quarter GDP, PCE inflation data, and monthly employment figures, are also on investors’ radar this week.

Other metals

Platinum futures dipped 0.1% to $1,418.15 per ounce, while silver futures inched up 0.4% to $38.38 per ounce.

On the copper front, London Metal Exchange benchmark prices slipped 0.1% to $9,782.45 per ton, with U.S. copper futures falling 0.2% to $5.60 per pound.

Copper prices in the U.S. dropped nearly 3% on Monday after Chile’s finance minister announced plans to seek an exemption from upcoming U.S. tariffs on the metal.

“The copper market is awaiting more details on planned copper tariffs, which are set to begin on 1 August,” ING analysts noted.

“Traders have been shipping record volumes of copper to the U.S. to front-run the tariffs. This has caused a record price gap between U.S. copper prices and the benchmark LME prices,” they added.

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.

Inchcape PLC (LSE:INCH) saw its shares fall 8.5% during Tuesday’s London session after the British automotive distributor reported a drop in first-half revenues, driven largely by reduced demand for premium vehicles in the Asia-Pacific region amid ongoing U.S. trade tensions.

The company experienced a 15% decline in organic revenue in the Asia-Pacific market at constant currency, a significant setback considering the region accounts for over 25% of Inchcape’s overall sales.

CEO Duncan Tait told Reuters that markets such as Indonesia, the Philippines, and Hong Kong faced the steepest declines. He highlighted that premium vehicle volumes fell 40% in Indonesia and 15% in the Philippines compared with the same period last year.

For the six months ending June 30, Inchcape posted an adjusted operating profit of £247 million ($329 million), marking a 12% decrease at constant currency from the previous year. Profit before tax (PBT) edged down 4% to £200 million.

Total revenue declined 4% to £4.32 billion, with organic sales slipping 3%.

The company announced a 16% reduction in its interim dividend to 9.5p per share.

Jefferies analyst James Wheatcroft noted in a research note, “We expect a -2% decline in consensus PBT estimates for full-year 2025 (FY25) to update for ongoing FX headwinds.”

While Inchcape acknowledged some logistical challenges linked to U.S. tariffs imposed under President Donald Trump, it stated these disruptions have not had a direct material effect on its operations.

Despite these difficulties, the company upheld its full-year outlook, projecting earnings per share growth.

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.

Bank of Ireland Group PLC (LSE:BIRG) reported a first-half pre-tax profit of €721 million on Tuesday, with a return on tangible equity (ROTE) of 14.8%, as increased impairment charges weighed on strong growth within its Irish operations.

Following the announcement, the bank’s shares dropped 5.8%, largely due to impairment charges coming in above analyst expectations.

Net interest income (NII) for the first half of 2025 stood at €1.67 billion, down from €1.80 billion during the same period last year, but surpassing the bank’s internal forecasts.

This solid performance led Bank of Ireland to raise its full-year NII guidance to roughly €3.3 billion, up from the prior estimate of more than €3.25 billion.

On the other hand, impairment charges climbed to €137 million (33 basis points), representing a 21% increase over consensus predictions. As a result, the bank revised its full-year impairment charge forecast to about 30 basis points, up from the earlier guidance of “low to mid-20s basis points.”

“The Group had a good H1 performance, with a profit before tax of €0.7 billion and is on track to deliver its full year targets,” said Myles O’Grady, Bank of Ireland Group CEO.

“Against an uncertain international backdrop, the Irish economy is resilient. Bank of Ireland is well positioned to navigate this environment, generating strong levels of capital to support customers, grow our balance sheet, invest in the business and deliver attractive shareholder returns.”

The bank declared an interim dividend of 25 cents per share, corresponding to a 40% payout ratio. Business income rose 4% year-over-year to €399 million, boosted by an 8% increase in its Wealth and Insurance divisions.

Operating expenses were up 3% compared to last year, consistent with guidance, leading to a cost-to-income ratio of 48%.

At the end of June, Bank of Ireland’s loan portfolio totaled €82.2 billion, slightly lower than €82.5 billion in December 2024. However, the Irish loan book grew by €1.3 billion, driven primarily by mortgages where the bank held a 40% market share of new lending. Customer deposits increased by €1.9 billion since December, reaching €105.0 billion.

The bank reaffirmed its 2025 full-year guidance for an adjusted ROTE of approximately 15% and organic capital generation between 250 and 270 basis points. It also maintained a positive medium-term outlook, anticipating ROTE to surpass 17% by 2027.

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.

Shares of FirstGroup PLC (LSE:FGP) climbed 1% following the UK’s Office of Road and Rail (ORR) granting approval for extensions to its Hull Trains and Lumo open access rail services, effective from December 2025.

The green light from regulators allows Lumo to extend certain daily routes to Glasgow Queen Street, boosting capacity by roughly 19 million seat miles and including stops at Falkirk High and Edinburgh Haymarket. Additionally, FirstGroup plans to introduce an extra daily Lumo service running between Newcastle and London, adding 76 million seat miles, alongside an increased Hull Trains service on weekdays and Saturdays between London and Hull, contributing an extra 23 million seat miles.

Altogether, these expansions will increase FirstGroup’s open access capacity by about 118 million seat miles, on top of its current 967 million seat miles. When combined with previously approved new routes to Stirling and Carmarthen, this will more than double the company’s existing open access network.

On the other hand, the ORR declined FirstGroup’s request to launch a new Hull Trains service between London and Sheffield, which would have added an estimated 92 million seat miles. FirstGroup confirmed it remains open to exploring future possibilities for this route.

“Although the rejection of the service of the new route between London and Sheffield is disappointing, we did not expect all applications to increase capacity to be approved, particularly following the WCML rejections. There are further open access applications to play for,” noted RBC analysts in response to the decision.

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.

ConvaTec Group PLC (LSE:CTEC) reported solid financial results for the first half of 2025 on Tuesday, highlighting consistent revenue growth and improving profit margins. The upbeat figures pushed the company’s shares 0.7% higher in early trading.

For the six months ending June 30, the medical products and technology firm generated $1.18 billion in revenue, up 6.0% year-on-year, in line with market expectations. Organic revenue growth—excluding contributions from InnovaMatrix—was even stronger at 6.8%, with all business units delivering positive momentum.

Adjusted operating profit rose 13.1% to $252 million, while the company expanded its adjusted operating margin by 130 basis points to reach 21.3%. Adjusted earnings per share climbed 18.7% to 8.0 cents, slightly ahead of analysts’ projections.

The Infusion Care segment led the way, posting 14.1% organic growth. In response, ConvaTec upgraded its full-year outlook for this business unit, now expecting double-digit growth, up from the earlier forecast of high single digits.

Elsewhere, Continence Care revenues grew by 6.7%, Ostomy Care increased 4.7%, and Advanced Wound Care (excluding InnovaMatrix) saw a 4.3% rise.

“Convatec performed strongly in the first half and we are on track to deliver FY25 financial guidance,” said CEO Karim Bitar. “Under our FISBE strategy, we saw further broad-based organic revenue growth across all chronic care categories, further operating margin expansion and double-digit growth in adjusted EPS.”

The company reiterated its full-year 2025 guidance, targeting organic revenue growth between 5.5% and 7.0%, excluding InnovaMatrix. Revenue from InnovaMatrix is projected to reach at least $75 million this year.

Despite currency headwinds and anticipated tariff-related impacts shaving about 50 basis points from margins, ConvaTec is holding its adjusted operating margin forecast steady at 22.0% to 22.5%.

Looking ahead, the company remains confident in its medium-term goals, aiming for 5–7% organic revenue growth and adjusted operating margins in the mid-20s by 2026 or 2027.

The board declared an interim dividend of 1.877 cents per share, up 3.0% 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.