Author: Fiona Craig

British Land Company plc (LSE:BLND) has reported solid leasing momentum across its central London properties during the first quarter of 2025. At its flagship Broadgate campus, demand for Storey flexible workspace has remained high, with active leasing underway at both 201 Bishopsgate and Broadgate Tower. Broader leasing across the campus has also been robust, with multiple deals finalized and additional space under offer.

Norton Folgate, another of British Land’s high-profile City developments, has made notable leasing progress, securing several new tenants and negotiating terms for much of the remaining space. Additionally, The Alma at Aldgate Place is attracting growing interest, underscoring continued market appetite for modern, well-located business environments.

These developments highlight British Land’s success in catering to forward-thinking companies seeking dynamic and engaging workspaces.

Despite ongoing concerns over financial volatility and mixed technical indicators, British Land’s strong asset base, valuation appeal, and positive leasing developments support investor confidence. The absence of a recent earnings call limits insight into forward-looking strategy, but current trends point to resilience in key segments of its portfolio.

About British Land Company plc

British Land is one of the UK’s leading commercial property companies, managing a diverse £14.6 billion portfolio. Its focus spans high-demand sectors such as mixed-use London campuses, open-air retail parks, and urban logistics. Committed to creating sustainable, vibrant spaces, British Land designs environments that support long-term value for both occupiers and shareholders.

Everplay Group plc (LSE:EVPL) delivered an impressive first-half performance in 2025, driven by successful new game launches such as Date Everything!, which received both critical acclaim and strong sales. The company expects to surpass full-year market expectations, with adjusted EBITDA projected to climb in the second half as additional game releases hit the market.

As part of its strategic growth plan, Everplay has expanded its intellectual property portfolio by acquiring the Hammerwatch franchise from Crackshell. It also secured publishing rights for popular titles Settlement Survival and Operation Tango. These moves aim to strengthen the company’s first-party content and deepen its back catalogue, aligning with its disciplined approach to capital allocation and long-term value creation.

Everplay’s solid financial performance—reflected in healthy revenue growth and strong profit margins—has earned the stock positive analyst sentiment. Although some technical indicators suggest potential near-term fluctuations, the company’s moderate valuation points to sustained growth potential.

About Everplay Group plc

Previously operating as Team17 Group plc, Everplay Group is a leading name in the global indie gaming and app development space. Its portfolio spans multiple labels, including Team17, known for fan-favorite franchises like Worms, Hell Let Loose, and Overcooked!; astragon, a specialist in detailed simulation games such as Construction Simulator and Police Simulator; and StoryToys, which creates educational apps for children under eight featuring beloved characters and interactive storytelling. Through its diverse offerings, Everplay continues to build a robust and scalable presence in the entertainment software industry.

Croma Security Solutions Group PLC (LSE:CSSG) has delivered a strong financial performance for the fiscal year 2025, posting a 10% rise in revenue to £9.6 million. This growth was largely driven by increased organic sales and the continued expansion of its service network. Following the £6.5 million divestment of its manned guarding arm, Vigilant, the company now holds £4.3 million in cash and remains debt-free—strengthening its financial foundation.

Croma is advancing a strategy to grow its national footprint by acquiring and modernizing traditional locksmith businesses. Recent additions in Leeds and Peterborough reflect this approach, with plans in place to acquire three to five new locations each year. Although investments in leadership and operational infrastructure may affect short-term margins, these efforts are designed to support long-term scalability.

The company’s property portfolio includes 17 security centres—nine owned outright and eight leased—positioning Croma for sustainable growth and future rental income potential.

While Croma benefits from solid financial health and a fair market valuation, some headwinds remain. Margin compression and unpredictable cash flows present operational challenges. Additionally, neutral technical indicators and a lack of major corporate events or earnings call insights suggest that investors should adopt a measured outlook.

About Croma Security Solutions

Croma Security Solutions Group PLC is a UK-based provider of integrated security services, leveraging over five decades of industry experience. The company operates across key sectors including fire safety, locksmithing, and electronic security, serving both residential and commercial clients. Known for modernizing legacy locksmith outlets into full-service security centres, Croma currently operates 17 locations across the UK and supports industries ranging from healthcare to utilities.

Oriole Resources PLC (LSE:ORR) has released its inaugural JORC-compliant Exploration Target for the Mbe orogenic gold project in Cameroon. The estimate outlines a potential mineralized volume of between 33 and 44 million tonnes, containing approximately 0.82 to 1.34 million ounces of gold. This milestone represents a major advancement in the project’s development and supports the company’s broader strategic ambitions in Central Africa.

Drilling activities remain underway, with the goal of delivering a formal Mineral Resource Estimate (MRE) by the fourth quarter of 2025. Achieving this would significantly reinforce Oriole’s standing in the regional gold exploration market and enhance its operational momentum.

About Oriole Resources PLC

Oriole Resources PLC is a UK-based exploration firm listed on AIM, focused primarily on gold projects across West and Central Africa. The company’s mission is to uncover and advance promising mineral deposits, with current efforts concentrated on early-stage and advanced exploration opportunities in underexplored regions.

The Gym Group (LSE:GYM) has announced strong interim results for the first half of 2025, highlighting an 8% year-on-year revenue boost to £121 million and a 4% uptick in average membership numbers. The company has launched three new locations so far this year and expects to roll out a total of 14 to 16 new gyms by the end of 2025. Alongside its expansion, the firm has made progress in reducing its net debt and has secured a one-year extension and enhancement of its banking facilities, improving its financial flexibility.

With growing membership figures and continued investment in site development, The Gym Group remains positive about its prospects for the full year. The company is benefiting from favorable technical trends and constructive corporate developments, which bolster investor confidence. Despite clear signs of financial recovery, the business still faces challenges related to high debt levels and a relatively elevated price-to-earnings ratio. Nevertheless, its deliberate expansion efforts and insider share purchases are encouraging signs.

About The Gym Group

The Gym Group is a prominent player in the UK’s budget fitness sector, known for its round-the-clock gym access and no-contract membership model. As of June 2025, the company operates 247 modern fitness sites nationwide, catering to more than 900,000 members. Renowned for delivering high customer satisfaction, it also holds the distinction of being the UK’s first carbon-neutral gym chain.

Apple’s (NASDAQ:AAPL) App Store revenue rose about 12% year-over-year in June, UBS analysts reported Tuesday, citing Sensor Tower data. The figure matches the growth rate seen in May, boosted slightly by currency tailwinds as the U.S. dollar weakened.

Foreign exchange had a roughly 200 basis-point positive effect, UBS noted, though on a currency-neutral (FXN) basis, growth slowed to around 10%, a decline of 70 basis points compared to the prior month. Still, “growth was fairly consistent between the U.S. (~12%) and Rest-of-World (ROW) (~13%) on a reported basis,” according to the UBS team, even as underlying comps varied.

In the U.S., App Store revenue in the June quarter rose by 11%, outperforming the March quarter by 100 basis points. Meanwhile, Rest-of-World (ROW) markets also showed 12% growth on a reported basis, an improvement of 250 basis points over the previous quarter. However, ROW’s FXN growth stayed flat at 10%.

UBS held firm on its June-quarter Services revenue projection for Apple, expecting roughly 11% growth. Still, the bank sees potential upside due to the FX environment: “Considering that FX should be at least a 100 bps smaller headwind than previously expected, we believe that there is upside risk to our ‘Services’ revenue estimate.”

The firm added that if Services growth exceeds expectations by one percentage point, total revenue from the segment could reach $27.1 billion rather than $26.9 billion, potentially increasing EPS by about one cent from the current forecast of $1.40.

As for regulatory changes, UBS said the new EU Digital Markets Act—which permits app distribution outside the App Store—has yet to meaningfully impact growth. “Sensor Tower data suggests the impact has been relatively muted in the EU thus far, with growth run rating in the mid-20s% since Jan-24,” analysts wrote.

With the EU contributing only a high-single-digit share of total App Store revenue and the U.S. accounting for nearly one-third, UBS concluded the broader financial risk remains “relatively limited,” even in light of recent App Store fee updates.

UBS maintained its Neutral rating on Apple stock, with a 12-month price target of $210, in line with the current market price.

European equities were mostly flat on Tuesday, as investors assessed fresh trade tensions triggered by U.S. President Donald Trump’s latest tariff proposals and their potential impact on global economic growth.

Trump announced Monday that new, elevated tariffs on imports from 14 countries will take effect on August 1 — a delay from the original July 9 start date. The European Union is said to be actively negotiating exemptions from the existing 10% U.S. base tariff.

In economic developments, Germany’s export sector showed continued weakness. According to Destatis, exports fell 1.4% month-over-month in May — marking the second consecutive monthly decline — amid sagging demand from the U.S. Imports also saw a steep drop of 3.8%, reversing the 2.2% rise seen in April.

By midday trading, the French CAC 40 had slipped 0.3%, while Germany’s DAX was hovering just above the flatline. The U.K.’s FTSE 100 posted a marginal gain of 0.1%.

In company-specific news, Hansa Biopharma saw its shares rise after naming Richard Philipson as its new chief medical officer. Basilea (TG:PK5) gained ground as well, buoyed by a $39 million injection from the U.S. Biomedical Advanced Research and Development Authority (BARDA) to advance its antifungal treatments Fosmanogepix and BAL2062.

Conversely, shares of Victrex (LSE:VCT) tumbled following the announcement of a leadership change and disappointing third-quarter revenue figures.

U.S. stock index futures hovered near unchanged levels early Tuesday, suggesting a cautious start to the trading session after Monday’s steep market drop. Investors appear hesitant to make bold moves amid persistent ambiguity around President Donald Trump’s evolving trade stance.

On Monday, Trump formalized an extension of the temporary suspension on reciprocal tariffs affecting several U.S. trading partners. The executive order pushed the deadline from July 10 to August 1, citing “additional information and recommendations from various senior officials.”

However, Trump added that the new deadline is “not 100 percent firm,” explaining, “If they call up and they say something a different way, we’re going to be open to that.” The ambiguity left markets on edge.

The order followed a series of letters Trump posted to his Truth Social account, warning of impending tariff hikes on at least 14 countries. The letters detailed tariffs ranging from 25% to as high as 40%, with potential penalties of up to 70% for countries viewed as aligning with “anti-American policies.”

With no major U.S. economic reports scheduled for release today, investors are instead looking ahead to the Federal Reserve’s June meeting minutes, due out Wednesday. These minutes could offer critical clues about future interest rate policy ahead of the central bank’s July 29–30 meeting.

Currently, the CME FedWatch Tool suggests a 95.3% probability that the Fed will keep interest rates unchanged later this month.

On Monday, U.S. equities experienced a broad selloff, reversing gains from the prior week’s rally, which had pushed the S&P 500 and Nasdaq to record highs. Stocks stumbled out of the gate and lost further ground throughout the day.

Though the major indices recovered slightly from session lows, they still ended the day firmly in the red. The Dow Jones Industrial Average fell 422.17 points, or 0.9%, closing at 44,406.36. The Nasdaq Composite declined 188.59 points (0.9%) to 20,412.52, while the S&P 500 dropped 49.37 points, or 0.8%, to finish at 6,229.98.

Analysts attributed the pullback to profit-taking, compounded by fresh trade jitters sparked by Trump’s tariff letters. Imports from Japan, South Korea, Malaysia, and Kazakhstan are set to face 25% tariffs, while South African goods will see a 30% levy. Imports from Laos and Myanmar will be subject to 40% duties, according to the documents shared by Trump.

“What’s troubling investors is Trump potentially moving the goalposts yet again,” said Dan Coatsworth, investment analyst at AJ Bell. “He has form in constantly coming up with new terms and conditions and has now threatened an extra 10% tariff on countries who align themselves with ‘anti-American policies’ of BRICS nations.”

“He also suggests some tariffs could reach up to 70%, greater than the previous maximum amount on the Liberation Day menu,” he added. “Investors would much prefer one set of rules and for the Trump administration to stick to them.”

Market weakness was most pronounced in the tech and energy sectors. The NYSE Arca Computer Hardware Index sank 2.2%, retreating from a four-month high. Oil service stocks also underperformed, with the Philadelphia Oil Service Index slipping 2.0%.

Airlines, semiconductors, and steel stocks posted similar declines, while gold-related shares stood out as rare gainers, benefiting from renewed demand for safe-haven assets.

Glencore Plc (LSE:GLEN) has reportedly finalized a deal to offload its copper refining operation in the Philippines to the family of Filipino billionaire Manny Villar Jr., according to a Bloomberg report published Tuesday. The sale comes amid a challenging environment for the global smelting industry, where processing fees have dropped to historic lows.

The asset in question is Philippine Associated Smelting and Refining Corp. (Pasar), one of the country’s largest copper refining facilities. The move marks Glencore’s exit from a long-held and strategically vital site in Southeast Asia.

Located in Leyte, Pasar has served as a crucial hub for Glencore’s global copper trading network. The smelter processes copper concentrates from producers across the Pacific — including Australia and Indonesia — and has been known to take on distressed shipments rerouted from South America en route to China.

The Villar family’s acquisition underscores their growing interest in expanding their portfolio beyond real estate and infrastructure, particularly into energy and heavy industry. While financial terms of the deal have not been disclosed, the transaction reflects shifting dynamics in the global metals market and increasing regional interest in industrial assets.

U.S. stock futures mostly rose Tuesday as investors digested President Donald Trump’s latest moves on tariffs. Trump sent formal letters to over a dozen countries detailing the higher tariffs they will face but extended the deadline for implementing these levies. Meanwhile, China warned Washington against reigniting trade tensions.

Futures Show Moderate Gains

By early Tuesday morning, Dow futures were steady, S&P 500 futures ticked up slightly by 0.1%, and Nasdaq 100 futures rose 0.2%. Markets had pulled back on Monday following Trump’s tariff letters, as some traders took profits amid uncertainty. Yet optimism remains as some investors believe Trump may remain open to negotiation, supported by signs of steady economic growth and easing inflation pressures.

Analysts from Vital Knowledge noted, “Despite Monday’s dip and tariff concerns, market bulls continue to drive the conversation.”

Tariff Letters Signal Increased Levies but Flexible Timeline

On Monday, Trump sent tariff notifications to 14 countries, warning of upcoming tariff hikes higher than the current baseline 10%, though somewhat less steep than his initial April announcements. The new deadline to enforce these tariffs was moved to August 1, giving countries—including major suppliers like Japan and South Korea—more time to negotiate.

Asked about the firmness of the new deadline, Trump said it was “firm, but not 100%,” signaling openness to alternative proposals if trading partners request adjustments.

Notably, these new tariffs will not overlap with existing sector-specific tariffs on cars, steel, and aluminum. India and the European Union were not included in the latest round of notifications, fueling speculation that trade agreements with these entities may be forthcoming.

Japan signaled continued willingness to negotiate, with Prime Minister Shigeru Ishiba affirming ongoing talks. South Korea’s Trade Minister Yeo Han-koo also met U.S. Commerce Secretary Howard Lutnick to discuss potential tariff exemptions or reductions in key sectors.

China Cautions U.S. Against Escalation

In a related development, China urged the U.S. to avoid reigniting tariff disputes that could undermine the fragile trade truce recently agreed upon. Although the U.S. and China reaffirmed a trade framework in June after marathon negotiations, many details remain unclear, casting doubts over the durability of the agreement.

China has until August 12 to reach a deal with the U.S., or risk facing tariff rates exceeding 100% on some goods. The People’s Daily, the official Communist Party newspaper, called for continued dialogue and cooperation but condemned Trump’s tariffs as “bullying.” It also warned smaller countries against striking deals with the U.S. that exclude China, threatening retaliation.

Oil Prices Slip Amid Trade and Supply Concerns

Crude oil prices edged down as investors weighed the uncertain impact of tariffs on global demand alongside rising production from OPEC+. Brent crude futures fell 0.1% to $69.54 per barrel, while U.S. West Texas Intermediate futures declined 0.2% to $67.76.

OPEC+ recently announced an increase of 548,000 barrels per day in August production—more than the boosts seen in May, June, and July—adding pressure to the market amid trade-related demand worries.

Amazon Launches Extended Prime Day Sales

Amazon (NASDAQ:AMZN) kicked off its Prime Day event Tuesday, extending the annual sales event to four days this year, longer than usual. Analysts predict U.S. online spending during the event will hit $23.8 billion, a 28.4% jump over last year’s two-day sale.

Amazon attributes the longer event to members requesting more time to shop deals. In 2024, Americans spent $14.2 billion during Prime Day, representing an 11% increase from the previous year.

The event faces stiff competition from rivals Walmart, Target, and TikTok Shop, who are also targeting younger shoppers eager for back-to-school discounts. Amazon has responded with special offers and discounted Prime subscriptions for younger consumers.