ADVFN UK Market News

Author: Fiona Craig

  • European Markets Edge Higher Despite Ongoing Middle East Concerns: DAX, CAC, FTSE100

    European Markets Edge Higher Despite Ongoing Middle East Concerns: DAX, CAC, FTSE100

    European equities traded modestly higher on Friday, although investor sentiment remained cautious as markets continued to monitor developments in the Middle East.

    Regional tensions intensified after Hezbollah rejected a newly proposed ceasefire arrangement with Israel. Meanwhile, the Israel Defense Forces (IDF) announced the killing of Abed Harb, identified as the commander of Hezbollah’s engineering unit, adding to concerns over a further escalation in the conflict.

    Major Indices Post Limited Gains

    Trading activity remained subdued across the region.

    Germany’s DAX Index hovered close to flat territory, while France’s CAC 40 Index and the U.K.’s FTSE 100 Index both advanced by around 0.3%.

    Investors largely refrained from taking aggressive positions as geopolitical uncertainty continued to dominate market sentiment.

    Technology Sector Under Pressure

    Technology shares were among the weakest performers of the session following disappointing reactions to earnings news from Broadcom.

    Infineon Technologies (TG:IFX) dropped 6.6%, while semiconductor equipment maker ASM International lost more than 4%.

    The declines reflected broader concerns over the outlook for the technology sector after recent enthusiasm surrounding artificial intelligence-related stocks.

    Energy Stocks Ease as Oil Prices Stabilize

    Energy companies also traded slightly lower after crude oil prices steadied following losses in the previous session.

    Among the major movers, BP Plc (LSE:BP.) and Shell (LSE:SHEL) both recorded modest declines as investors assessed the latest developments in energy markets.

    Bodycote Slides After Apollo Withdraws Interest

    Bodycote (LSE:BOY) was one of the session’s biggest fallers, with shares tumbling approximately 10%.

    The decline followed news that Apollo Global Management had abandoned plans to pursue a £1.52 billion ($2.04 billion) takeover of the British thermal processing specialist.

    The decision removed the prospect of a near-term acquisition premium that had previously supported the stock.

    Raspberry Pi Surges on Strong Earnings Outlook

    In contrast, Raspberry Pi Holdings (LSE:RPI) emerged as one of the strongest performers in the market.

    Shares of the single-board computer manufacturer jumped around 20% after the company said it now expects full-year earnings to come in well ahead of current market forecasts.

    The upbeat guidance fueled strong investor demand and helped offset weakness elsewhere in the technology sector.

  • Rolls-Royce Secures Contract for Four Battery Storage Projects in Latvia

    Rolls-Royce Secures Contract for Four Battery Storage Projects in Latvia

    Rolls-Royce Power Systems (LSE:RR.) has entered into agreements with Baltic renewable energy developer Sunly to build four large-scale battery energy storage facilities in Latvia, adding a combined 490MWh of storage capacity to support grid resilience and energy security in the region.

    The announcement was made during the inauguration of Sunly’s new solar park in Valmiera, one of Latvia’s earliest hybrid renewable energy developments.

    First Project Scheduled for 2027 Launch

    Construction will begin with a battery storage facility in Valmiera, which is expected to enter service during the first quarter of 2027.

    The remaining three installations are scheduled to become operational later that year, expanding Latvia’s energy storage infrastructure as renewable generation continues to grow.

    Together, the projects are intended to improve grid reliability by helping balance fluctuations in electricity supply and demand.

    Rolls-Royce to Deliver Turnkey Storage Solution

    Under the agreement, Rolls-Royce will provide a fully integrated battery storage package built around its mtu EnergyPack technology and the mtu EnergetIQ energy management software platform.

    The solution is designed to optimize the storage and release of electricity, helping grid operators maintain stability while supporting the integration of renewable power sources.

    Rolls-Royce will also serve as the project’s general contractor, overseeing design, procurement and construction activities from start to finish.

    Focus on Grid Stability and Energy Security

    Andreas Görtz, president of the mobile and sustainable solutions business unit at Rolls-Royce Power Systems, emphasized the benefits of the company’s turnkey approach.

    “As a general contractor, we offer our customers a single point of contact, which helps them reduce risks and complexity, ensure profitable performance and maximise long-term asset value.”

    He added that the collaboration would contribute to strengthening regional energy infrastructure.

    “Together with Sunly, we are delivering large-scale battery storage systems that will play a crucial role in strengthening grid stability and energy security in the Baltic region.”

    Sunly Highlights Reliability and Cybersecurity Requirements

    Sunly selected Rolls-Royce following previous cooperation in the Baltic market and the company’s ability to satisfy both technical and cybersecurity standards.

    The renewable energy developer views battery storage as a critical component in improving the reliability of renewable energy generation.

    Sunly Chief Executive Officer Priit Lepasepp said: “Our aim is to build an energy system that serves people – not just when the sun is shining. By combining solar power generation with battery storage, we can supply energy when it is needed. This makes renewable energy more reliable and less dependent on the weather.”

    He also noted the importance of choosing a partner capable of meeting stringent security requirements.

    “We have to meet strict cybersecurity requirements. It was therefore crucial for us to find a European partner that has already demonstrated its expertise in Latvia.”

    Partnership Expands Beyond Latvia

    The cooperation between the two companies is expected to extend into neighboring Estonia.

    Rolls-Royce and Sunly have already signed a memorandum of understanding covering a separate 300MWh battery storage project in Risti, broadening their collaboration across the Baltic region.

    The additional project highlights growing investment in energy storage infrastructure as governments and utilities seek to increase renewable energy penetration while maintaining network reliability.

    Growing Presence in the Global Storage Market

    Rolls-Royce Power Systems currently supplies mtu battery storage systems for more than 200 projects worldwide.

    Once all contracted projects in the Baltic region are completed, the company expects its installed battery storage capacity there to exceed 1.5GWh.

    The group already has an operational presence in Latvia, having supplied a battery storage system that has been serving transmission system operator Augstsprieguma tīkls since 2025.

    The latest contracts further strengthen Rolls-Royce’s position in the rapidly expanding energy storage market, where demand continues to rise alongside renewable energy deployment across Europe.

  • Market Open: STV Advertising Outlook, Raspberry Pi Profit Forecast

    Market Open: STV Advertising Outlook, Raspberry Pi Profit Forecast

    FTSE 100 slips as Middle East tensions weigh on sentiment. STV lifts advertising outlook, Raspberry Pi raises forecasts, while Brent crude falls.

    Market Overview

    Markets were mixed heading into the UK session. The FTSE 100 fell 0.51 per cent to 10,340.81 as investors weighed reports of stalled UK house price growth and ongoing concerns around risks to shipping and energy markets linked to tensions in the Middle East. European markets outperformed, with the CAC 40 rising 1.15 per cent and the DAX gaining 0.60 per cent, while US markets weakened overnight as the Nasdaq declined 0.79 per cent and the S&P 500 slipped 0.40 per cent amid caution around technology stocks and broader risk sentiment.

    Commodity markets were softer, with copper, gold, Brent crude and natural gas all trading lower. Bitcoin also retreated against sterling, reflecting reduced appetite for risk assets. Sterling strengthened against the US dollar, Japanese yen and Australian dollar, while easing slightly against the Swiss franc. Oil steadied after recent volatility, but geopolitical uncertainty and concerns around global trade conditions continued to influence investor positioning.

    Market Numbers

    FTSE 100: Down (-0.51%), 10,340.81

    CAC40: Up (1.15%), 8,244.290

    DAX: Up (0.60%), 24,944.95

    NASDAQ: Down (-0.79%), 30,064.7

    S&P 500: Down (-0.40%), 7,545.1

    In the Headlines

    Advertising Demand Boost – STV Group (LSE:STVG)

    STV raised its near-term advertising expectations after stronger demand linked to the upcoming FIFA World Cup boosted bookings. The broadcaster nevertheless cautioned that wider advertising market conditions remain challenging, highlighting ongoing uncertainty across the sector.

    Forecast Upgrade – Raspberry Pi Holdings (LSE:RPI)

    Raspberry Pi lifted its annual profit forecast following strong first-half trading and continued demand for its computing products. The upgrade signals improving momentum for the technology company and reinforces confidence in its growth outlook.

    Currencies (vs GBP)

    USD: Up (0.16%), $1.3442

    CHF: Down (-0.11%), Fr.1.05872

    EUR: Flat (0.00%), €1.1555

    JPY: Up (0.07%), ¥214.968

    AUD: Up (0.24%), $1.88510

    Bitcoin (BTC/GBP): Down (-2.52%), £46,359.0

    Commodities

    Copper: Down (-1.83%), 6.44468

    Gold: Down (-0.23%), 4,465.17

    Brent Crude: Down (-0.86%), 93.553

    Natural Gas: Down (-0.51%), 3.335

  • Gold Heads for Weekly Loss as Investors Brace for U.S. Jobs Data

    Gold Heads for Weekly Loss as Investors Brace for U.S. Jobs Data

    Gold prices retreated on Friday and remained on track for a weekly decline as concerns over a prolonged confrontation between Washington and Tehran supported the dollar and dampened appetite for bullion.

    Market participants are now awaiting key U.S. labor market figures that could help shape expectations for interest rates over the coming months.

    Precious Metals Under Pressure

    Spot gold slipped 0.8% to $4,440.84 an ounce, while gold futures dropped by the same margin to $4,467.01 an ounce.

    The yellow metal was set to record a weekly loss of around 2.2%, its weakest performance in more than a month.

    Geopolitical Risks Fuel Inflation Concerns

    Recent developments in the Middle East have reduced hopes for a near-term diplomatic solution between the United States and Iran.

    The situation deteriorated further after Hezbollah rejected a ceasefire agreement with Israel, while clashes continued across southern Lebanon. Iran has consistently linked broader peace negotiations to a halt in fighting in Lebanon.

    With little sign of de-escalation, investors are increasingly concerned that elevated oil prices could sustain inflationary pressures worldwide.

    Hawkish Central Bank Expectations Hurt Gold

    Persistent inflation risks have strengthened expectations that major central banks may maintain restrictive monetary policies for longer.

    For gold, which offers no yield, a higher-rate environment typically represents a headwind. These concerns have weighed on prices throughout the conflict that erupted earlier this year.

    Silver and platinum also traded lower. Silver fell 1.7% on Friday and was down 3.5% for the week, while platinum eased 0.9%, bringing its weekly decline to 0.9%.

    Labor Market Figures Take Center Stage

    Investors are closely watching the release of the May U.S. nonfarm payrolls report.

    Forecasts suggest job creation slowed further during the month, reflecting softer economic activity and uncertainty tied to geopolitical developments.

    A robust employment report could strengthen the case for keeping interest rates elevated, while a weaker reading may revive expectations for future policy easing.

  • Crude Oil Gains Ground as Hezbollah Rejects Truce Proposal, Keeping Supply Concerns in Focus

    Crude Oil Gains Ground as Hezbollah Rejects Truce Proposal, Keeping Supply Concerns in Focus

    Oil prices moved higher on Friday in Asian trading after Hezbollah rejected a ceasefire proposal involving Israel and Lebanon, raising fresh concerns over regional stability and reducing hopes for a diplomatic breakthrough in the Middle East.

    The latest escalation added support to crude markets, which were already positioned for weekly gains amid ongoing hostilities involving Iran, Israel, the United States and Hezbollah.

    Oil Benchmarks Continue Weekly Advance

    By 23:05 ET (03:05 GMT), Brent crude futures for August delivery were up nearly 0.8% at $95.75 a barrel, while U.S. West Texas Intermediate crude futures gained 0.5% to $90.47 a barrel.

    The rise extended a week of positive momentum for oil prices, as traders continued to factor in geopolitical risks and the possibility of prolonged disruptions to global energy supplies.

    Hezbollah Dismisses Ceasefire Initiative

    The Lebanon-based Hezbollah movement, which is backed by Iran, formally rejected the proposed ceasefire on Thursday, stating that it would neither withdraw its fighters nor support negotiations currently taking place between Lebanon and Israel.

    At the same time, Israeli military operations in southern Lebanon continued, prompting further retaliatory attacks from Hezbollah. Israeli officials indicated that military activity would proceed and that no immediate troop withdrawal was planned following a temporary operational pause earlier in the week.

    Diplomatic Path Between the U.S. and Iran Faces New Obstacles

    The developments have cast further doubt on the prospects for a broader agreement between Washington and Tehran.

    Iran has consistently maintained that any lasting peace arrangement must include a ceasefire in Lebanon. Earlier reports suggested that Tehran had suspended indirect talks with the United States after accusing Washington of breaching ceasefire commitments through recent military actions.

    During the week, U.S. forces carried out strikes against several targets in Iran, triggering retaliatory operations by Iran’s Revolutionary Guard against U.S.-linked assets in Kuwait and Beirut.

    The military exchanges took place despite repeated statements from American officials suggesting that negotiations remained active and that a potential agreement was within reach. Nevertheless, concrete evidence of meaningful diplomatic progress has remained scarce despite optimistic rhetoric from Washington in recent months.

    Strait of Hormuz Disruptions Support Prices

    Both Brent and WTI contracts were heading toward weekly gains of between 3% and 6%, supported by continued disruptions to oil flows through the Strait of Hormuz.

    Although U.S. involvement has helped increase shipping activity through the strategic waterway, overall volumes remain substantially below levels seen before the conflict began.

    This has heightened concerns about global energy availability, particularly because the Strait of Hormuz historically handles approximately one-fifth of worldwide oil consumption.

    Traders Monitor Conflict for Supply Impact

    With no clear signs of a reduction in hostilities, market participants continue to view supply risks as a key factor underpinning oil prices.

    As long as uncertainty persists across the region, investors are likely to remain focused on developments that could affect crude production, transportation networks and the broader balance of global energy markets.

  • Wall Street Futures Retreat as Middle East Uncertainty Deepens and Jobs Report Looms: Dow Jones, S&P, Nasdaq

    Wall Street Futures Retreat as Middle East Uncertainty Deepens and Jobs Report Looms: Dow Jones, S&P, Nasdaq

    U.S. stock index futures moved lower on Friday as investors navigated renewed geopolitical risks in the Middle East and prepared for the release of key labor market data that could shape expectations for future Federal Reserve policy.

    Market sentiment was also pressured by signs that the powerful rally in artificial intelligence-related stocks may be losing momentum following mixed reactions to recent corporate earnings.

    Technology Shares Weigh on Futures

    By early morning trading, futures on the S&P 500 and Nasdaq 100 were firmly in negative territory, while Dow Jones futures traded near flat.

    The weakness followed Broadcom’s (NASDAQ:AVGO) latest earnings announcement, which failed to meet the market’s lofty expectations and sparked selling across the semiconductor sector. Shares of Micron (NASDAQ:MU), Intel (NASDAQ:INTC), and Advanced Micro Devices (NASDAQ:AMD) were among those affected.

    Even so, Thursday’s broader market performance remained constructive, with gains in cyclical and value-oriented sectors helping offset pressure on technology stocks.

    As analysts at Vital Knowledge noted, “[T]he Broadcom disappointment […] triggered selling in certain semiconductor stocks and parts of the data center infrastructure complex but rather than cause a broad market slump, money instead simply rotated elsewhere, including pockets of value/cyclical.”

    Middle East Tensions Continue to Escalate

    Geopolitical concerns intensified after Hezbollah formally rejected a ceasefire agreement between Israel and Lebanon, a development that may complicate ongoing diplomatic efforts involving Iran and the United States.

    Tehran has repeatedly linked any broader peace discussions with Washington to a halt in hostilities in Lebanon, making the latest setback significant for regional negotiations.

    Hezbollah leader Naim Kassem sharply criticized the agreement, calling it “absurd, humiliating, and insulting.”

    Reports from the Associated Press indicated that the statement followed Israeli strikes that killed at least four people, while Lebanese forces entered parts of southern Lebanon that have experienced months of conflict.

    Oil Markets Monitor Hormuz Developments

    Energy traders remained focused on the Strait of Hormuz, where continued tensions between Washington and Tehran have disrupted tanker traffic and heightened concerns over global oil supplies.

    Although Brent and WTI crude prices eased modestly, they remain elevated compared with levels seen before the conflict intensified.

    Market participants continue to assess whether sustained supply disruptions could fuel inflationary pressures and alter the outlook for monetary policy worldwide.

    Employment Data Could Influence Fed Expectations

    Investors are now awaiting the latest U.S. nonfarm payrolls report, which is expected to provide a clearer picture of labor market conditions.

    Consensus forecasts point to the creation of 85,000 jobs in May, with the unemployment rate holding steady at 4.3%.

    The report arrives at an important time for the Federal Reserve, whose policymakers must balance inflation risks against economic growth and employment objectives. Under new Chair Kevin Warsh, the central bank faces heightened scrutiny as markets attempt to gauge the future direction of interest rates.

    Report Highlights Possible Government Investment in AI Firms

    Separately, NOTUS reported that senior U.S. officials have explored the possibility of the federal government acquiring equity stakes in major artificial intelligence companies.

    According to the report, discussions focused on voluntary share transfers, with OpenAI chief executive Sam Altman reportedly participating in talks with senior Trump administration officials.

    The report suggested that any returns generated from such investments could be directed toward public programs, including potential dividend distributions to American households.

    While still at a preliminary stage, the discussions underscore the growing strategic importance of artificial intelligence to both policymakers and investors.

  • European Equities Drift Lower as Middle East Risks Persist and AI Momentum Fades: DAX, CAC, FTSE100

    European Equities Drift Lower as Middle East Risks Persist and AI Momentum Fades: DAX, CAC, FTSE100

    European stock markets traded modestly lower on Friday morning as investors weighed ongoing geopolitical uncertainty in the Middle East alongside signs that enthusiasm surrounding artificial intelligence-related stocks may be cooling.

    By 03:16 ET (07:16 GMT), the pan-European Stoxx 600 index was down 0.2%. Germany’s DAX lost 0.3%, London’s FTSE 100 declined 0.2%, while France’s CAC 40 was little changed.

    Geopolitical Concerns Continue to Pressure Sentiment

    Investor confidence remained fragile after Hezbollah rejected a proposed ceasefire arrangement between Israel and Lebanon, raising fresh questions over the prospects for a broader diplomatic breakthrough involving the United States and Iran.

    Tehran, a key supporter of Hezbollah, has consistently linked progress in its negotiations with Washington to an end to hostilities in Lebanon, making the latest developments a setback for peace efforts.

    Strait of Hormuz Remains a Major Market Focus

    The continuing deadlock between the United States and Iran has also maintained pressure on the Strait of Hormuz, one of the world’s most important energy shipping routes.

    Disruptions to tanker traffic through the waterway have tightened global supply flows and heightened concerns over the potential economic consequences of a prolonged standoff.

    Brent crude, the international oil benchmark, was last trading 0.2% lower at $94.85 per barrel. Although below recent highs, prices remain significantly elevated compared with levels seen before the conflict intensified.

    In comments released during the week, Hezbollah leader Naim Kassem described the ceasefire agreement brokered by Washington between Israel and Lebanon as “absurd, humiliating, and insulting.”

    According to the Associated Press, the statement followed Israeli attacks that reportedly killed at least four people. The news agency also reported that Lebanese military forces entered parts of southern Lebanon on Thursday after months of heavy fighting in the region.

    Semiconductor Stocks Retreat as AI Trade Pauses

    Away from geopolitical developments, investors also reassessed the technology sector after signs of a slowdown in the powerful artificial intelligence-driven rally that has supported semiconductor shares in recent months.

    Sentiment was partly affected by results from chipmaker Broadcom (NASDAQ:AVGO), which failed to fully meet elevated market expectations earlier this week.

    The weakness was reflected across the European semiconductor sector. Shares in Dutch chip equipment manufacturer ASML (EU:ASML) fell 3.0%, while Germany’s Infineon (TG:IFX) dropped 5%. France-based STMicroelectronics (EU:STMPA) also came under pressure, declining 3.3%.

    The pullback suggests investors may be taking a more cautious approach toward AI-related stocks following an extended period of strong gains.

  • FTSE 100 Slips as UK Housing Weakness and Middle East Tensions Weigh on Sentiment

    FTSE 100 Slips as UK Housing Weakness and Middle East Tensions Weigh on Sentiment

    UK equities traded lower on Friday as investors digested fresh signs of softness in the housing market while keeping a close watch on escalating geopolitical risks in the Middle East.

    The latest Halifax House Price Index showed that average UK property prices declined for a second consecutive month in May, falling 0.1% to £298,806. Annual growth remained subdued at just 0.5%, highlighting ongoing pressure on the residential property sector.

    European Markets Open on the Back Foot

    By 03:20 ET (07:20 GMT), the FTSE 100 was down 0.23%, while sterling traded little changed against the US dollar at 1.3439, up 0.08%.

    Across Europe, Germany’s DAX fell 0.34%, while France’s CAC 40 lost 0.07%, reflecting broader investor caution.

    Housing Market Continues to Face Affordability Pressures

    The Halifax report pointed to persistent challenges for homebuyers, with elevated borrowing costs continuing to limit affordability.

    Amanda Bryden, Head of Mortgages at Halifax, said “property price trends continue to reflect the uncertainty linked to developments in the Middle East,” adding that “higher inflation expectations have kept borrowing costs above the level seen at the start of the year, continuing to stretch affordability for many buyers.”

    Regional disparities remained evident across the UK housing market. Northern Ireland recorded the strongest annual price growth at 7.8%, while London saw prices decline 1.5% to £534,375. South East England also experienced a notable fall, with values dropping 2.1% to £382,704.

    Oil Market Jitters Add to Investor Concerns

    Housing data arrived amid renewed volatility in energy markets, with Brent crude trading near $95 per barrel and heading for a weekly gain exceeding 3%.

    The rise followed an explosion near Oman’s Mina al Fahal oil terminal, which temporarily disrupted loading operations at the country’s main crude export facility. If maintained through the end of the trading week, Brent’s advance would end a two-week losing streak.

    Oman’s state news agency later reported that operations had resumed normally, citing Petroleum Development Oman, although authorities did not provide details regarding the cause of the incident.

    Reuters had previously reported that the explosion near the terminal’s offshore loading facilities was believed to have resulted from a drone attack.

    Strait of Hormuz Remains in Focus

    Energy traders continue to monitor developments around the Strait of Hormuz, a critical route for global oil exports.

    According to data from Lloyd’s List, Iranian crude exports fell 84% in May compared with the previous month and were 87% below their average level over the past year, reflecting increased US pressure on Tehran’s shipping activities.

    Iranian parliament deputy speaker Hamidreza Haji-Babaei said lawmakers had reviewed plans governing vessel traffic through the strategic waterway and indicated that a “powerful resolution” would be approved, although no further details were provided.

    Diplomatic Progress Remains Limited

    On the diplomatic front, Iranian Foreign Minister Abbas Araghchi said that “no tangible progress” had been achieved in talks with Washington, though communication channels between the two sides had not been completely severed.

    Araghchi also dismissed comments by US President Donald Trump regarding a possible meeting with Iran’s supreme leader Mojtaba Khamenei, saying the matter should be viewed “in the real world.”

    Speaking from the Oval Office on Thursday, Trump revealed that he had considered deploying special operations forces to secure Iran’s stockpile of highly enriched uranium but ultimately rejected the proposal due to the risks associated with a prolonged military operation inside an active conflict zone.

    Lebanon Ceasefire Efforts Face New Obstacles

    Meanwhile, prospects for stability in Lebanon appeared to deteriorate further.

    The fragile ceasefire framework brokered with US involvement suffered a setback after Hezbollah leader Sheikh Naim Qassam firmly rejected the proposal, describing the agreement as “a roadmap for the destruction of part of the Lebanese people.”

    His comments added to concerns that efforts to reduce tensions across the region may face significant obstacles in the weeks ahead, leaving markets sensitive to further geopolitical developments.

  • Evoke Shares Surge After Bally’s Intralot Agrees £243 Million Acquisition (EVOK)

    Evoke Shares Surge After Bally’s Intralot Agrees £243 Million Acquisition (EVOK)

    Shares in Evoke Plc (LSE:EVOK) climbed 12.5% on Friday, making the online gaming operator the strongest performer on the FTSE Small Cap index.

    The rally pushed the stock to its highest level since October 2025 as investors reacted positively to news of a takeover agreement.

    Bally’s Intralot Strikes Deal for Evoke

    Bally’s Intralot (LSE:0KA1) has agreed to acquire the UK-based bookmaker in a transaction valuing the company at approximately £243.1 million.

    Under the terms of the deal, Evoke shareholders will receive 52 pence per share, providing a significant uplift from the company’s previous market valuation.

    Offer Delivers Significant Premium

    The agreed price represents a premium of 33.8% to Evoke’s closing share price before the company disclosed that it was engaged in discussions with Intralot regarding a potential transaction.

    The sizeable premium helped drive strong buying interest in the stock following confirmation of the acquisition, with investors moving to align the market price more closely with the offer value.

    Shares Reach Eight-Month High

    Following the announcement, Evoke’s shares advanced to their highest level in more than eight months, reflecting growing confidence that the proposed acquisition will proceed.

    The transaction marks a significant development for both companies and highlights continued consolidation activity within the European gaming and betting sector.

  • Raspberry Pi Upgrades Full-Year Expectations Following Strong First-Half Performance (RPI)

    Raspberry Pi Upgrades Full-Year Expectations Following Strong First-Half Performance (RPI)

    Raspberry Pi Holdings plc (LSE:RPI) has raised its outlook for the 2026 financial year after delivering a strong first-half trading performance driven by robust demand across its computing platform portfolio. The company said it expects to ship more than 4 million units during the first six months of the year, reflecting continued momentum across its core markets.

    The Cambridge-based technology group also expects adjusted EBITDA for the first half to reach at least US$38 million, representing a substantial improvement on the corresponding period in FY 2025.

    Product mix and inventory benefits support profitability

    Management attributed the stronger-than-expected performance to a favourable product mix and the benefit of lower-cost DRAM inventory acquired before memory market conditions tightened.

    As a result, Raspberry Pi now expects full-year 2026 EBITDA to come in significantly ahead of current market forecasts. While the company anticipates some moderation in margins as memory prices increase, it believes overall profitability will remain stronger than previously expected.

    The updated guidance reflects confidence in both demand trends and the company’s ability to manage supply chain dynamics effectively.

    Strategic inventory purchases planned

    To support future growth and mitigate the impact of rising memory costs, Raspberry Pi intends to utilise its available debt facilities to secure strategic memory purchases. Management believes this approach will help protect product availability, support competitive pricing and create opportunities to expand market share.

    The company sees proactive inventory management as an important advantage in a market where memory pricing can have a significant impact on manufacturing costs and margins.

    Broad customer base continues to drive growth

    Raspberry Pi serves a diverse customer base that includes industrial and embedded system developers, educators, hobbyists and semiconductor partners. Its combination of affordability, reliability and performance has enabled the company to establish a strong presence across multiple computing segments.

    To date, the business has shipped more than 73 million units globally, demonstrating the broad appeal of its platforms across both professional and enthusiast markets.

    Strong fundamentals offset by premium valuation

    The company’s outlook continues to be supported by strong revenue growth, a healthy balance sheet and relatively low leverage. Technical indicators also remain favourable, reflecting sustained positive momentum in the share price.

    However, investors may remain mindful of cash flow volatility and the company’s demanding valuation. Raspberry Pi trades on a relatively high earnings multiple, which could limit upside if future growth falls short of expectations. Despite these considerations, the company’s operational performance and upgraded guidance continue to underpin a positive fundamental outlook.

    More about Raspberry Pi Holdings plc

    Raspberry Pi Holdings plc is a Cambridge-based technology company that develops low-cost, high-performance computing platforms for engineers, developers, educators and enthusiasts. Operating as a full-stack engineering organisation, the company combines expertise in semiconductor intellectual property, hardware design, software development and regulatory compliance. Its products serve industrial and embedded applications, education markets and semiconductor customers worldwide, with cumulative unit shipments exceeding 73 million.