ADVFN UK Market News

Author: Fiona Craig

  • Bitcoin Drops Back Under $68K as Momentum Fades, Set for Fifth Monthly Decline

    Bitcoin Drops Back Under $68K as Momentum Fades, Set for Fifth Monthly Decline

    Bitcoin (COIN:BTCUSD) slipped on Friday, giving up recent gains as a fragile risk environment continued to weigh on sentiment. The world’s largest cryptocurrency is now on course to record a fifth consecutive month of notable losses.

    The broader crypto market largely mirrored Bitcoin’s weakness, with digital assets also heading toward steep February declines as both institutional and retail investors remained cautious toward the asset class.

    Bitcoin was down nearly 1% at $67,788.0 as of 00:48 ET.

    Bitcoin facing fifth straight month of losses

    Bitcoin has fallen roughly 14% so far in February, highlighting persistent risk aversion across crypto markets that has shown little sign of easing during the month.

    Elevated geopolitical tensions, ongoing uncertainty surrounding major global economies, and concerns over potential disruptions linked to U.S. trade tariffs have discouraged investors from allocating capital to speculative assets such as cryptocurrencies.

    Earlier this month, Bitcoin had dropped as much as 50% from its October record high before staging a modest rebound.

    Despite that recovery, the cryptocurrency remains locked in a broader downward trend that began after October, with buying activity from major corporate holder Strategy doing little to halt the decline.

    Strategy has also slowed its pace of Bitcoin accumulation in recent months amid growing concerns that continued price weakness could force the company to sell part of its holdings to service debt obligations.

    MARA Holdings jumps as AI pivot overshadows weak earnings

    Shares of MARA Holdings, formerly Marathon Digital (NASDAQ:MARA), rallied sharply Thursday evening after the Bitcoin miner announced a partnership with Starwood Capital to repurpose portions of its mining infrastructure into artificial intelligence data centers.

    MARA shares surged as much as 17% in after-hours trading.

    The AI-related announcement overshadowed a $1.7 billion fourth-quarter loss, reflecting the impact of sustained weakness in Bitcoin prices that has significantly pressured mining profitability.

    Revenue also came in below expectations. Facing declining crypto prices alongside growing enthusiasm for artificial intelligence, MARA has increasingly sought to pivot toward deploying its computing capacity for AI data center operations instead of crypto mining.

    Crypto market today: altcoins lose momentum, February losses deepen

    The wider cryptocurrency market declined again on Friday following a brief recovery earlier in the week, leaving many tokens on track for sizeable monthly losses.

    Ether, the second-largest cryptocurrency, fell 1.2% to $2,038.21 and was set to drop nearly 17% in February. The token faced additional pressure after founder Vitalik Buterin sold more of his holdings, reinforcing cautious market sentiment.

    XRP declined 2.3% and was on pace for a roughly 15% monthly loss, while BNB traded little changed on Friday but remained down nearly 20% for the month.

    Solana has fallen about 17% in February, while Cardano traded broadly flat. Among meme tokens, Dogecoin and $TRUMP were down 5.4% and 20%, respectively, over the month.

  • Paramount Takes Lead in Warner Deal as Block Soars — Market Movers to Watch: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Paramount Takes Lead in Warner Deal as Block Soars — Market Movers to Watch: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. equity futures edged lower on Friday as investors assessed fresh technology earnings and reconsidered positioning around artificial intelligence-driven stocks. Paramount Skydance (NASDAQ:PSKY) is emerging as the frontrunner to acquire Warner Bros. Discovery (NASDAQ:WBD) after Netflix (NASDAQ:NFLX) withdrew from the bidding process, while AI company Anthropic entered a standoff with the Pentagon. Meanwhile, Jack Dorsey’s Block (NYSE:XYZ) surged following a major restructuring announcement, and oil prices moved modestly higher.

    Futures slip ahead of market open

    Futures tied to major U.S. indices pointed to a softer end to the trading week as markets digested a wave of influential tech-sector results.

    At 02:59 ET, Dow futures were down 205 points, or 0.4%, S&P 500 futures fell 13 points, or 0.2%, and Nasdaq 100 futures were largely unchanged.

    Wall Street finished Thursday’s session mixed, with investor focus centred on earnings from artificial intelligence leader Nvidia (NASDAQ:NVDA) and enterprise software group Salesforce (NYSE:CRM).

    Although Nvidia reported quarterly results that exceeded expectations, investors remained cautious amid rising competitive pressures, concerns about the durability of strong demand, and uncertainty over the timing of meaningful shareholder returns. Nvidia shares — which carry significant weight in major indices — declined by more than 5%.

    Salesforce shares advanced despite issuing a weaker-than-expected revenue outlook for the year ahead. Analysts at Vital Knowledge said the results were “no worse than feared.”

    Trading also reflected what analysts described as a “violent rotation” within technology stocks, as investors shifted capital away from hardware-focused companies such as chipmakers and data center infrastructure providers toward software and data-oriented businesses.

    Analysts argued that “small red flags” from Nvidia, combined with relief surrounding results from Salesforce and Workday, along with comments from AI startup Anthropic stating it aims to “compliment and augment, not kill” software companies, helped drive the shift.

    Paramount moves ahead in Warner takeover contest

    Paramount Skydance appears set to win the extended takeover battle for Warner Bros. Discovery after Netflix unexpectedly stepped away from negotiations.

    Netflix executives — whose shares rose in after-hours trading — said the acquisition was “always a ’nice to have’ at the right price,” but “not a ’must have’ at any price.” While the streaming company has ample financial capacity, some investors had questioned the strategic rationale behind acquiring a traditional media group.

    Warner Bros.’ board concluded that Paramount’s $31-per-share offer represented a superior proposal. Netflix was granted four days to respond but ultimately chose not to match the bid, abandoning its $27.75-per-share offer covering Warner Bros.’ studios and HBO Max.

    The move positions Paramount — controlled by David Ellison, son of technology billionaire Larry Ellison — to form a larger entertainment powerhouse incorporating major franchises such as “Harry Potter” and “Game of Thrones.” Pending regulatory approval, Paramount would also gain oversight of cable channels including CNN and TBS.

    Warner Bros. CEO David Zaslav said a Paramount transaction would “create tremendous value for our shareholders.” Paramount shares rose in extended trading, while Warner Bros. stock declined.

    Anthropic clashes with Pentagon over AI safeguards

    Artificial intelligence firm Anthropic said it would refuse Pentagon demands to remove safety protections embedded in its AI systems, creating friction between the startup and the U.S. government.

    The dispute centres on a Pentagon request to eliminate safeguards designed to prevent the technology from being used for domestic surveillance or autonomous weapons systems.

    The Defense Department has warned it may terminate its partnership with Anthropic and designate the company a “supply chain risk” if it does not comply. Defense Secretary Pete Hegseth reportedly set a Friday deadline for the company to approve unrestricted lawful use of the technology.

    Anthropic CEO Dario Amodei said he could not agree “in good conscience,” arguing that the military’s request would effectively dismantle critical safety guardrails.

    Block shares jump after workforce overhaul

    Shares of Block surged more than 23% in after-hours trading after the payments company announced plans to cut nearly half of its workforce as part of a broader push to integrate artificial intelligence into its operations.

    The reductions — expected to eliminate over 4,000 roles — come as companies increasingly reshape staffing strategies around AI adoption, raising concerns among workers and economists about employment impacts despite productivity gains.

    Block CEO Jack Dorsey said that “[i]ntelligence tools have changed what it means to build and run a company,” adding “[w]e’re already seeing it internally” and “[a] significantly smaller team using the tools can do more and do it better[.]”

    Although Block expects restructuring costs of up to $500 million, analysts cited by Reuters suggested the sharp rally reflects investor expectations that a leaner organization could deliver stronger margins.

    Oil edges higher amid ongoing U.S.–Iran talks

    Oil prices moved modestly higher but remained on track for weekly declines after the United States and Iran agreed to continue negotiations over Tehran’s nuclear program, easing fears of potential supply disruptions.

    Brent crude futures rose 0.7% to $71.29 per barrel, while U.S. West Texas Intermediate futures climbed 0.8% to $65.74 per barrel.

    For the week, Brent was broadly unchanged, while WTI was poised to fall roughly 1%, reversing part of the previous week’s gains.

    Talks between Washington and Tehran concluded Thursday without a definitive agreement, but technical discussions are scheduled to resume next week in Vienna, Omani Foreign Minister Sayyid Badr Albusaidi said in a post on X following meetings in Geneva.

    Tensions related to Iran have been a key driver of oil price movements throughout February, as the United States increased its military presence in the Middle East and warned of potential action if negotiations failed.

  • European Stocks Little Changed as Earnings Season Continues and Inflation Data Looms: DAX, CAC, FTSE100

    European Stocks Little Changed as Earnings Season Continues and Inflation Data Looms: DAX, CAC, FTSE100

    European equity markets traded cautiously on Friday as investors reviewed another round of corporate earnings while monitoring key inflation releases toward the close of a busy week.

    At 08:10 GMT, Germany’s DAX was broadly unchanged, France’s CAC 40 edged down 0.1%, and the U.K.’s FTSE 100 gained 0.2%.

    Earnings season remains in focus

    Investors continued to analyse company results as Europe’s reporting season approached its final stages. More than half of companies in the STOXX 600 have now released fourth-quarter figures, with overall earnings slightly exceeding expectations — a trend that helped push the benchmark index to record highs on Thursday.

    Swiss Re (TG:SR9) reported record annual net income of $4.76 billion, representing a 47% increase year over year. However, the reinsurer’s life and health division fell short of targets after booking a $650 million charge linked to assumption updates affecting underperforming portfolios in Australia, Israel, and South Korea.

    BASF (TG:BAS) announced a 9.5% decline in full-year earnings, with its core chemicals division nearly breaking even during the fourth quarter. The German chemicals group relied heavily on reduced capital spending to support free cash flow generation.

    Holcim (TG:HLBN) achieved a record recurring EBIT margin of 18.3% in 2025, an improvement of 80 basis points, following the spin-off of its North American operations and new acquisition agreements involving European walling manufacturer Xella and a majority stake in Peru’s Cementos Pacasmayo.

    Melrose Industries (LSE:MRO) posted a 23% increase in adjusted operating profit for 2025 and returned to positive free cash flow for the first time in two years. Net debt rose, however, as the British aerospace and defence group distributed £255 million to shareholders through dividends and share buybacks.

    Netflix steps back from Warner Bros bidding contest

    In U.S. corporate developments, Netflix (NASDAQ:NFLX) said Thursday it would not increase its bid for Warner Bros Discovery (NASDAQ:WBD) after Warner Bros concluded that a revised offer from Paramount Skydance (NASDAQ:PSKY) qualified as a superior proposal under the terms of its merger agreement with the streaming company.

    “We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement.

    Inflation data draws attention

    On the macroeconomic front, France reported fourth-quarter GDP growth of 0.2%, matching expectations. Consumer prices in the country rose 0.7% in February after declining 0.3% the previous month.

    Germany’s inflation figures are due later in the session, with European Central Bank policymakers expected to scrutinise the data closely ahead of their next monetary policy meeting scheduled for mid-next month.

    Oil prices head toward weekly decline

    Oil markets moved slightly higher on Friday but remained on track for weekly losses after the United States and Iran agreed to continue discussions over Tehran’s nuclear programme, easing fears of supply disruptions linked to escalating geopolitical tensions.

    Brent crude futures rose 0.7% to $71.29 per barrel, while U.S. West Texas Intermediate futures gained 0.8% to $65.74 per barrel.

    For the week, Brent prices were broadly flat, while WTI was set to decline by roughly 1%, partially reversing gains from the previous week.

    Negotiations between Washington and Tehran concluded Thursday without a definitive agreement, but both sides plan to resume technical-level talks next week in Vienna, according to Omani Foreign Minister Sayyid Badr Albusaidi in a post on X following meetings in Geneva.

    Tensions surrounding Iran have been a key influence on oil markets throughout February, as the United States deployed significant military assets to the Middle East and warned of potential action should Tehran reject a negotiated settlement.

  • IAG Operating Profit Rises in 2025, Beating Market Forecasts

    IAG Operating Profit Rises in 2025, Beating Market Forecasts

    International Airlines Group (LSE:IAG) reported annual results on Friday that exceeded analyst expectations, supported by lower fuel expenses and sustained demand across its core transatlantic network, particularly for premium cabin travel.

    The airline group, which owns British Airways, posted adjusted operating profit of €5.02 billion, up 3.5% year on year and above the €4.97 billion forecast compiled by LSEG analysts.

    Revenue increased 3.5% to €33.21 billion, compared with €32.10 billion recorded in 2024.

    Operating margin improved by 1.3 percentage points to 15.1%, while adjusted earnings per share rose 22.4% to 69.5 euro cents. Free cash flow totalled €3.1 billion, down from €3.6 billion a year earlier but still characterised by the company as a strong performance.

    Return on invested capital (ROIC) also strengthened, reaching 18.5% compared with 17.3% in 2024.

    Looking ahead, the group said it is “positively positioned for 2026.”

    “The outlook for travel trends continues to be supportive, particularly in our core markets. We will continue to execute on our strategy, supported by our transformation programme,” it said.

    IAG added that it intends to return €1.5 billion ($1.77 billion) of surplus cash to shareholders over the next 12 months, starting with a €500 million share buyback programme expected to be completed by the end of May 2026.

  • Just Group Profit Drops 39% as Margins and Sales Come Under Pressure

    Just Group Profit Drops 39% as Margins and Sales Come Under Pressure

    Just Group (LSE:JUST) reported a significant fall in annual earnings on Friday, with results impacted by weaker margins on new business and reduced sales in its retirement income segment.

    Underlying operating profit declined 39% to £305 million for the year ended 31 December, compared with £504 million in the previous year. Adjusted profit before tax also fell sharply, dropping to £120 million from £482 million, reflecting softer core operating performance.

    “During 2025, our proactive approach to managing our capital resources, pricing discipline and risk selection meant that we deliberately reduced volume in what was an increasingly competitive Defined Benefit de-risking (“DB”) market,” said David Richardson, CEO of Just Group.

    “Industry analysts expect a rebound in the DB market in 2026, driven by renewed demand from sponsors and trustees, and our own pipeline supports this outlook. In addition, the retail guaranteed income market offers significant long-term growth potential in the decades ahead,” he added.

    Sales within the Retirement Income division fell 18% year on year to £4.3 billion, down from £5.3 billion previously.

    Margins on new business narrowed to 5.7%, compared with 8.7% in 2024, as competition intensified — particularly in the Defined Benefit market during the second half of 2025 — alongside tighter pricing spreads, lower transaction volumes and a less favourable product mix.

    Despite the earnings decline, tangible net assets increased to £2.7 billion from £2.6 billion, representing growth of 37% over the past three years.

    The company also confirmed that it agreed in late July to a £2.4 billion ($3.23 billion) acquisition by Canada-based Brookfield Wealth Solutions, with completion expected during the first half of 2026.

  • Rightmove Reports Strong Profit Growth and Expands AI Strategy in 2025

    Rightmove Reports Strong Profit Growth and Expands AI Strategy in 2025

    Rightmove (LSE:RMV) delivered solid results for 2025, with revenue increasing 9% to £425.1 million, operating profit rising 12%, and basic earnings per share climbing 15%. Growth was supported by a modest increase in estate agency membership and higher adoption of premium, product-focused advertising packages. Average revenue per advertiser grew 6%, while strategic segments — including commercial property, mortgages, and rental services — recorded combined revenue growth of 25%. The company returned close to £220 million to shareholders through dividends and share buybacks, alongside announcing an additional £90 million repurchase programme and an increased final dividend.

    Operationally, Rightmove strengthened its leading consumer position, achieving record levels of online property search engagement, increased app usage, and improved social media reach. Agency retention remained above 90%, while new estate agent formation reached record levels. The company also accelerated its technology development, rolling out 31 active AI initiatives, delivering thousands of product updates, and expanding a multi-year partnership with Google Cloud. New AI-powered tools for agents and consumers are designed to enhance platform value and support sustained double-digit growth over the medium term, supported by improving property market conditions.

    Rightmove’s outlook benefits from strong financial performance and positive sentiment following its earnings update, although technical indicators suggest some near-term market caution and valuation metrics remain moderate. Ongoing share buybacks continue to support shareholder returns, but market momentum remains an area to monitor.

    More about Rightmove

    Rightmove plc operates the UK’s largest online property portal, connecting estate agents, new homes developers, and commercial property firms with buyers, sellers, renters, and investors. The platform generates revenue through advertising and premium product packages and is increasingly focused on data-driven and AI-enabled services across residential, commercial, mortgage, and rental property markets.

  • Tritax Big Box Reports Earnings Growth, Expands Into Data Centres and Enters FTSE 100

    Tritax Big Box Reports Earnings Growth, Expands Into Data Centres and Enters FTSE 100

    Tritax Big Box REIT (LSE:BBOX) delivered improved financial results for 2025, reporting increases in net rental income, adjusted earnings, and dividends. Performance was supported by the integration of logistics assets acquired from UK Commercial Property, a significant portfolio purchase from Blackstone, and ongoing active asset management initiatives, which together lifted the company’s portfolio value to £7.89 billion. The group continues to reposition its portfolio toward higher-return opportunities, recycling more than £400 million from non-core asset disposals into logistics development projects and a newly established power-first data centre platform.

    The company maintained leverage within its target loan-to-value ratio of below 35%, secured an A3 credit rating upgrade, and confirmed its inclusion in the FTSE 100 index effective from early March 2026. These developments reflect Tritax Big Box’s strategy to strengthen its position in logistics real estate while expanding into digital infrastructure aligned with growing data centre demand.

    Tritax Big Box REIT’s outlook is supported by solid financial performance, favourable valuation metrics, and positive corporate milestones. Earnings commentary points to continued growth potential, while technical indicators show a constructive trend. However, higher leverage levels and broader market vacancy risks remain factors to monitor.

    More about Tritax Big Box REIT

    Tritax Big Box REIT plc is a UK-focused real estate investment trust specialising in large-scale logistics properties and increasingly urban logistics assets that underpin national supply chains. The company is also expanding into power-led data centre development, positioning itself at the intersection of logistics infrastructure and digital connectivity for occupiers across the UK.

  • Blue Star Capital Cuts Losses and Expands Investment in SatoshiPay

    Blue Star Capital Cuts Losses and Expands Investment in SatoshiPay

    Blue Star Capital (LSE:BLU) reported a substantially reduced pre-tax loss of £665,606 for the year ended 30 September 2025, compared with £4.49 million in the previous year, as investment fair value declines moderated and net assets more than tripled to £2.87 million. The company strengthened its cash position to £313,236 following a share consolidation and £1.58 million raised through net equity financing, although administrative expenses increased due to higher professional advisory costs and share-based compensation.

    During the year, the group increased its exposure to its key portfolio company, SatoshiPay, raising its holding to approximately 58% on a diluted basis. Blue Star also provided a £1 million secured loan to support SatoshiPay’s treasury operations and digital asset strategy. Management highlighted confidence in SatoshiPay’s Vortex platform — a fiat-to-crypto infrastructure business gaining traction in Brazil — as a central driver of long-term value, while maintaining conservative valuations for smaller gaming-related investments amid uncertain exit markets.

    More about Blue Star Capital

    Blue Star Capital is a London-listed investment company focused on emerging technologies, particularly blockchain and digital payments. Its portfolio is anchored by SatoshiPay, a blockchain-based payments provider, alongside investments including Dynasty Media & Gaming’s B2B gaming platform, female-focused gaming venture Paidia, and identity and payments company Sthaler, which develops biometric finger-based transaction technology.

  • 80 Mile Highlights Nasdaq Listing for Greenland Energy and Advances Jameson Basin Development

    80 Mile Highlights Nasdaq Listing for Greenland Energy and Advances Jameson Basin Development

    80 Mile Plc (LSE:80M) has announced that Greenland Energy Company — created through the combination of Pelican Acquisition Corporation, Greenland Exploration Limited and March GL — is expected to begin trading on Nasdaq under the ticker GLND on or around 18 March 2026, subject to shareholder approval scheduled for 17 March. The planned listing is expected to increase visibility for 80 Mile’s Jameson hydrocarbon project in East Greenland, where Greenland Energy can earn up to a 70% working interest by funding two deep exploration wells, leaving 80 Mile with a retained 30% interest via its subsidiary White Flame Energy.

    Covering approximately two million acres, the Jameson Basin is considered one of the largest undrilled hydrocarbon basins globally. An independent report by Sproule ERCE estimates gross unrisked recoverable prospective resources of 13.03 billion barrels of oil (P10), equivalent to around 3.9 billion barrels net to 80 Mile assuming the full earn-in is completed. Preparations for the first fully carried drilling campaign, targeted for the second half of 2026, are progressing, with key contractors including Halliburton engaged and logistics arrangements underway. Successful exploration results could represent significant value potential given the basin’s large-scale gas and liquids-rich targets.

    The company’s outlook remains constrained by weak financial fundamentals, including the absence of revenue, widening losses, and continued cash burn, which heighten funding and dilution risks despite relatively low debt levels. Technical indicators remain supportive, showing positive momentum and a strong trend, although overbought signals suggest caution. Valuation remains difficult to determine due to negative earnings and the lack of dividend yield data.

    More about Bluejay Mining

    80 Mile Plc is an exploration and development company focused on hydrocarbons, high-grade critical metals projects in Greenland, and an industrial gas and biofuels business in Italy. Listed on AIM, Frankfurt, and the U.S. OTC market, the company pursues diversification across commodities and geographies while expanding into sustainable fuels and clean energy opportunities in Tier 1 jurisdictions.

  • Melrose Industries Reports Profit and Cash Flow Growth as Aerospace Turnaround Gains Momentum

    Melrose Industries Reports Profit and Cash Flow Growth as Aerospace Turnaround Gains Momentum

    Melrose Industries (LSE:MRO) delivered a strong performance in 2025, with revenue increasing 8% to £3.59 billion and adjusted operating profit rising 23% to £647 million, lifting operating margins to 18%. Free cash flow improved significantly, reaching £125 million compared with a £74 million outflow in the prior year, while leverage remained within the company’s target range at 1.8x net debt to EBITDA.

    The Engines division was the primary growth driver, recording a 15% rise in revenue and a 27% increase in adjusted operating profit, supported by solid demand across both original equipment and aftermarket activity, as well as variable income from risk-and-revenue-sharing agreements. Within Airframes, like-for-like revenue grew 3%, while adjusted operating profit increased 10%, aided by strong defence programme activity despite weaker civil aerospace volumes and some operational productivity challenges.

    Melrose also completed its multi-year transformation programme, citing measurable gains in quality and efficiency. The group highlighted several defence and advanced air mobility contracts and partnerships that are strengthening its long-term commercial outlook. A £175 million share buyback programme has been launched, alongside a proposed 20% increase in the final dividend, signalling management confidence as the company targets further revenue, profit, and cash flow expansion in 2026 on its path toward 2029 strategic objectives.

    Despite improved operational delivery, the company’s broader outlook remains influenced by financial performance pressures, including periods of revenue volatility and historically negative cash flow trends. Technical indicators present mixed signals, with some bearish momentum balanced by neutral factors, while valuation metrics appear moderate and dividend yield remains relatively modest. Positive corporate actions such as buybacks and leadership initiatives provide support but do not fully offset these challenges.

    More about Melrose

    Melrose Industries is a UK-listed global aerospace technology group operating through its Engines and Airframes divisions across civil and defence aviation markets. The company serves as a “Super-Tier 1” supplier to major airframe and engine manufacturers, providing design-led, flight-critical components including full engine systems, large structural assemblies, and complete aircraft electrical wiring systems for high-volume aircraft programmes worldwide.