Author: Fiona Craig

BP (LSE:BP.) signaled on Friday that second-quarter oil production will rise alongside a solid trading performance, though earnings may be constrained by softer price realizations in upstream segments. Shares increased 2.2% as of 07:48 GMT.

The company expects upstream output to surpass first-quarter levels, with notable growth in oil production, particularly driven by BPX Energy’s operations. Gas and low carbon energy output also edged higher.

Price realizations in gas and low carbon energy declined slightly by $0.1 billion to $0.3 billion, influenced by fluctuations in non-Henry Hub natural gas prices. In the oil production segment, a larger decrease of $0.6 billion to $0.8 billion was seen, attributed to changes in production mix and regional pricing in the United States and United Arab Emirates.

BP’s customers and products segment anticipates stronger results due to seasonally increased volumes and improved margins on fuels. The refining margin averaged $21.10 per barrel in Q2, up from $15.20 in the previous quarter, supported by less turnaround downtime. Oil trading activity remained robust.

During the quarter, Brent crude prices averaged $67.88 per barrel, down from $75.73 in Q1, while Henry Hub gas prices slipped to $3.44 per mmBtu from $3.71. The one-month lagged WTI CMA and WCS crude differential narrowed to $10.01 per barrel from $11.97.

BP projects a slight reduction in net debt by the end of the quarter. Charges related to other businesses and corporate expenses are expected to be consistent with earlier quarters.

The company anticipates post-tax adjusting items ranging from $0.5 billion to $1.5 billion this quarter, which will be excluded from its underlying replacement cost profit.

BP maintains its full-year guidance with capital expenditures at around $14.5 billion and an effective underlying tax rate near 40%. Divestment proceeds are expected between $3 billion and $4 billion, mainly in the second half of 2025.

Payments associated with the Gulf of Mexico oil spill are forecasted at $1.2 billion pre-tax for the year, with $1.1 billion expected in Q2.

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.

Following Greggs’ (LSE:GRG) recent profit warning, Jefferies released an updated analysis showing a slight weakening in the bakery chain’s pricing position compared to some competitors. According to their latest Sandwich Price Tracker, Greggs’ sandwich prices have risen by 6% over the past year. This growth aligns closely with Sainsbury’s (LSE:SBRY) 5% increase and Boots’ 7.5%, while outpacing Tesco (LSE:TSCO) and Pret, both of which maintained stable prices, and M&S (LSE:MKS), which saw a modest 1% rise.

Looking at a two-year span, Greggs’ prices climbed 10%, similar to Boots’ 12% and Sainsbury’s 9%, yet still higher than Tesco’s 5%, M&S’s 3%, and Pret’s 1%. Jefferies notes these figures reflect Greggs’ own reported price hikes: 4-5% early in the year followed by a further 1-2% increase in May.

Despite this slight softening in pricing advantage, Greggs remains notably more affordable than key competitors like Boots, M&S, and Pret. Jefferies suggests the recent profit warning mainly reflects short-term weather disruptions rather than a fundamental shift in the brand’s appeal. In fact, Greggs’ like-for-like sales for March through May exceeded expectations with roughly 4% growth.

The research house views the current market dip as a buying opportunity. They emphasize Greggs’ strong value proposition, solid brand loyalty, steady market share gains, healthy margins, and promising store expansion plans with projected cash returns above 30%. Additionally, Greggs’ current market valuation hovers near a decade-long low, potentially enhancing its investment appeal.

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.

Bitcoin (COIN:BTCUSD) continued its upward momentum on Friday, breaching a new all-time high above $118,000, buoyed by accelerating inflows into spot exchange-traded funds (ETFs) and a surge in institutional demand. The world’s leading cryptocurrency climbed 6.1% to $118,310.80 as of 05:54 GMT, marking its third straight week of gains.

Record ETF Inflows Reflect Soaring Institutional Interest

Market enthusiasm was evident in both price action and volume. Spot trading and on-chain activity spiked sharply, with data from SoSoValue showing $1.18 billion in net inflows into U.S.-listed spot Bitcoin ETFs as of Thursday—extending a six-day streak of strong inflows.

BlackRock’s iShares Bitcoin Trust (IBIT) led the surge, drawing $448.5 million. Fidelity’s FBTC and Bitwise’s BITB also posted notable gains. Overall, daily trading volume across the twelve U.S.-listed Bitcoin ETFs reached $6.3 billion, the highest since late May.

Pro-Crypto Policy Signals and Trump’s ETF Ambitions Stir Market Optimism

The bullish momentum is also underpinned by increasing institutional integration of Bitcoin into corporate treasuries and ETF portfolios, reflecting confidence in long-term crypto adoption.

Supportive signals from Washington added fuel to the rally. The Trump administration’s endorsement of a federal Bitcoin reserve earlier this year has set a more welcoming tone for the digital asset sector.

Adding to the momentum, Trump Media & Technology Group (NASDAQ:DJT)—linked to former President Donald Trump—recently filed to launch a “Crypto Blue Chip ETF”, marking its third such filing this month.

Investors are also eyeing “Crypto Week” starting July 14, when U.S. lawmakers are expected to advance key legislation targeting the digital asset space, including potential reforms on crypto taxation and compliance standards.

Altcoins Ride the Bitcoin Wave: Cardano Leads Gains

Bitcoin’s record-setting move reverberated across the broader crypto market, with major altcoins posting double-digit gains.

• Ethereum (ETH) soared 8.5% to $3,019.06
• XRP added 7.5%, reaching $2.60
• Solana (SOL) gained 6%
• Cardano (ADA) outperformed, jumping 13%
• Polygon (MATIC) climbed 9%

Even meme coins joined the rally—Dogecoin (DOGE) surged 12%, while the politically-themed $TRUMP token rose 11%.

With momentum building and key legislation on the horizon, markets appear poised for further volatility and potential upside in the weeks ahead.

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 rebounded modestly in Asian trading on Friday, following a steep sell-off the previous day. The recovery came as investors reassessed the impact of newly announced U.S. trade tariffs and focused on upcoming OPEC+ supply decisions.

By 01:47 GMT (21:47 ET), September Brent crude futures were up 0.5% at $69.01 per barrel, while West Texas Intermediate (WTI) crude rose 0.7% to $67.00 per barrel. Both benchmarks had dropped nearly 2% on Thursday, retreating from two-week highs earlier in the week.

Trump’s Expanding Tariff Agenda Raises Demand Concerns

President Donald Trump intensified his trade stance on Thursday, unveiling a 35% tariff on Canadian imports starting August 1. He warned that rates could increase if Canada retaliates. This move adds to a string of recent duties—25% on imports from Japan and South Korea and a 50% tariff on copper—all effective the same day.

These aggressive trade measures have raised fears of a broader slowdown in global economic activity, which could weigh on oil consumption. Tariffs typically dampen industrial production and travel—two key sources of energy demand. Analysts at ING cautioned that tariffs present a notable downside risk for oil markets.

OPEC+ Policy in the Spotlight as Output Nears Completion

Meanwhile, supply-side developments also held traders’ attention. According to Bloomberg, OPEC and its allies (OPEC+) are considering halting further production increases after implementing their final scheduled output hike next month.

The group is currently in the final phase of restoring 2.2 million barrels per day to the market, with an additional 550,000 barrels expected in August. However, the cartel on Thursday downgraded its oil demand outlook through 2029, citing persistent headwinds in China’s economy.

ING analysts noted that while markets may be well supplied once the OPEC+ additions are complete, any significant downward pressure on prices may not materialize until the fourth quarter of 2025, when a surplus is expected to emerge.

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 in Asian trading on Friday, buoyed by renewed safe-haven demand after U.S. President Donald Trump unveiled fresh tariff measures. Geopolitical instability in the Middle East further supported gold’s modest rebound, although a strong U.S. Dollar capped broader gains across the precious metals complex.

The Dollar, on track to close the week stronger, limited gold’s upside, but silver and platinum continued to shine. Both metals outperformed gold significantly, with silver hitting its highest level in nearly 14 years and platinum approaching an 11-year peak, fueled by growing supply concerns and speculative buying.

Spot gold rose 0.5% to $3,341.27 an ounce, while September gold futures climbed 0.9% to $3,354.60 by 01:28 ET (05:28 GMT). Despite Friday’s gains, the metal remains rangebound, trading between $3,300 and $3,500 for most of the year amid uncertainty around U.S. interest rate policy.

Trump’s Tariff Threat and Middle East Tensions Drive Safe-Haven Demand

Trump’s announcement of a 35% tariff on Canadian goods—effective August 1 and higher than previously signaled—triggered risk aversion across markets. The unexpected escalation dealt a blow to improving trade relations with Ottawa and pushed investors toward traditional safe-haven assets, including gold and the Japanese yen.

In the Middle East, continued Israeli airstrikes on Gaza and lack of tangible progress in U.S.-brokered ceasefire talks kept geopolitical tensions elevated. These factors supported safe-haven flows but weren’t enough to offset gold’s sluggish overall weekly performance amid Dollar strength and rate speculation.

Silver and Platinum Outperform with Strong Weekly Gains

Silver and platinum remained the top performers among precious metals. Silver futures rose 2.2% to $38.14 per ounce, marking their third straight weekly gain and reaching their highest price since 2011. Platinum futures climbed 0.3% to $1,420.25 per ounce, putting the metal on track for a sixth consecutive weekly gain, fueled by bullish industry forecasts and tightening supply expectations.

Copper Slips After Stellar Run

In industrial metals, copper futures pulled back following a surge earlier in the week. COMEX copper fell 1.2% to $5.5620 per pound as traders locked in profits after Trump floated the possibility of a 50% tariff on the red metal. The previous rally had briefly driven prices to record highs. Meanwhile, benchmark copper on the London Metal Exchange held steady at $9,700.55 per ton.

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 British Pound continues to lose ground against the US Dollar, with GBP/USD falling for the sixth straight session, trading near 1.3560 during early Friday trading in Asia. The continued decline reflects persistent strength in the US Dollar, driven by evolving policy signals from Federal Reserve officials.

On Thursday, Chicago Fed President Austan Goolsbee dismissed calls for interest rate cuts aimed at easing the cost of US government borrowing, emphasizing that the central bank remains focused on employment and inflation. Meanwhile, the Federal Open Market Committee’s (FOMC) minutes from its June meeting revealed a cautious stance, with policymakers in no rush to adjust rates until further economic clarity emerges.

However, the Dollar’s momentum could face resistance if new US trade policies begin to weigh on sentiment. President Donald Trump announced a 35% tariff on Canadian imports starting August 1 and hinted at similar measures targeting the European Union, potentially curbing the Dollar’s rally.

The Pound, on the other hand, is also under pressure from mounting domestic economic risks. Market participants are awaiting the UK’s GDP data for May, which is expected to offer fresh insights into the economy’s health. Additionally, the Bank of England’s latest Financial Policy Committee (FPC) report issued a stark warning, citing elevated risks of market volatility, geopolitical instability, and fragmentation in global trade and finance.

The FPC stated that the likelihood of sharp asset price corrections and abrupt shifts in investment patterns remains high, largely due to rising sovereign debt stress and persistent geopolitical tensions—factors that continue to cast a shadow over the UK’s economic outlook.

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.

Arc Minerals Ltd (LSE:ARCM) has finalized a binding settlement agreement with Avanti Gold Corporation and Regency Mining Ltd to resolve an outstanding receivable of USD 1.25 million. The agreement establishes a cash payment schedule with amounts varying depending on payment timing, providing a timely boost to Arc Minerals’ liquidity through 2026. This settlement follows constructive discussions and supports the company’s ongoing strategy to optimize cash management.

About Arc Minerals

Arc Minerals Ltd is a mining company focused on acquiring and developing mineral resources. Its key projects include the Misisi gold project located in the Democratic Republic of the Congo.

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.

abrdn European Logistics Income PLC (LSE:ASLI) has completed the sale of two multi-tenant warehouses in Germany for around €66.5 million, achieving a 10% premium compared to their valuation at the end of Q1 2025. This transaction aligns with the company’s ongoing managed wind-down plan, which involves divesting assets and returning net proceeds to shareholders. The firm is also in advanced talks to dispose of fifteen additional properties, with a second capital distribution anticipated by mid-August 2025. These asset sales will naturally reduce future income streams, likely leading to lower dividend payments going forward.

The company’s outlook is mixed, with steady yet historically fluctuating financial performance. Technical indicators reveal some positive momentum, although signs of overbought conditions persist. Valuation metrics remain elevated, highlighted by a high price-to-earnings ratio, while the dividend yield continues to offer some appeal. Recent corporate developments underscore strategic shifts that could influence future earnings and distributions.

About abrdn European Logistics Income PLC

abrdn European Logistics Income PLC specializes in investing across a broad portfolio of logistics real estate in Europe. The company targets high-quality warehouse properties situated in economically robust regions to benefit from increasing demand for modern logistics infrastructure.

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.

Accesso Technology Group PLC (LSE:ACSO) has updated its revenue forecast for the first half of 2025, anticipating results at the lower range of prior guidance due to softer attendance figures at key venues. Nevertheless, the company remains confident in maintaining its cash EBITDA margin targets and is focusing efforts on delivering robust performance during the pivotal summer season. Renewal talks are ongoing with a major client, which will influence gross profit from 2026 onwards, though improved terms on other contracts demonstrate solid customer relationships. Additionally, Accesso reports an expanding sales pipeline and a higher commercial win rate, marked by significant new client acquisitions that indicate positive momentum for the remainder of the year.

Accesso Technology’s strong financial results and corporate developments contribute positively to its stock rating. However, mixed technical signals and a moderate valuation—driven by a lack of dividend payments and a relatively high price-to-earnings ratio—moderate investor enthusiasm. The company’s strategic initiatives, including a share repurchase program, underline confidence in its future growth trajectory.

About Accesso Technology Group

Accesso Technology Group PLC specializes in technology solutions tailored for the leisure, entertainment, and cultural sectors. The company’s offerings include advanced ticketing, point-of-sale, virtual queuing, distribution, and experience management software designed to enhance guest experiences and boost revenue for venue operators. Serving over 1,200 locations across 33 countries, Accesso leverages data-driven insights to optimize operations and improve customer satisfaction.

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.

Polar Capital Holdings (LSE:POLR) announced an 8% increase in its Assets under Management (AuM), climbing from £21.4 billion to £23.2 billion in the quarter ending June 2025. This growth was fueled by positive fund performance and favorable market conditions, despite net outflows and a capital return following a tender offer by the Polar Capital Global Financials Trust. The company saw net inflows into funds such as Artificial Intelligence and Asian Stars, while experiencing outflows from its Technology fund. The successful tender offer marked the beginning of a new five-year term for the Global Financials Trust, which has seen notable net asset value growth over the last five years. Polar Capital remains confident in its long-term outlook, highlighting strong fund capacity and improving relative performance.

Financially, Polar Capital holds a strong position with solid profitability and a healthy balance sheet. However, recent declines in revenue and slower cash flow growth, alongside weak technical signals, indicate some potential headwinds. The stock’s undervaluation combined with an attractive dividend yield offers some offsetting appeal, making it a balanced consideration for investors.

About Polar Capital Holdings

Polar Capital Holdings plc is an active specialist asset manager focused on delivering diverse investment solutions. Operating across open-ended funds, investment trusts, and segregated mandates, the company emphasizes active management to achieve strong investment outcomes within the financial services sector.

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.