Author: Fiona Craig

Novacyt S.A. (LSE:NCYT) has released an unaudited trading update for the first half of 2025, indicating group revenue of approximately £9.8 million. While this represents a modest year-on-year decline, the company highlighted notable progress in its clinical division and growing adoption of its non-invasive prenatal testing (NIPT) technologies, especially within the Asia-Pacific region.

The company emphasized its strong financial footing, remaining entirely debt-free and maintaining a robust cash reserve. This financial strength is expected to support its trajectory toward achieving EBITDA profitability in the near term.

A key highlight of the period was the launch of LightBench® Discover, a new genomics platform designed to accelerate research capabilities. This innovation marks a significant step forward for Novacyt following its recent corporate restructuring and strengthens its position in the genomic research field.

About Novacyt

Novacyt is a global molecular diagnostics provider specializing in genomic medicine. The company offers a comprehensive range of integrated technologies and services, supporting diagnostic applications across human and animal health as well as environmental monitoring.

Its operations span three core segments: Clinical, Instrumentation, and Research Use Only. With a commercial footprint in more than 65 countries, Novacyt continues to serve a diverse and growing international market.

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.

Ariana Resources plc (LSE:AAU), a company focused on gold exploration and development, has finalized the institutional bookbuild process ahead of its proposed dual listing on the Australian Securities Exchange (ASX), according to an announcement released on Monday.

The upcoming ASX offering will involve the issuance of between 35.7 million and 53.6 million Chess Depositary Interests (CDIs), priced at A$0.28 per CDI. The company expects to raise between A$10 million and A$15 million before expenses. Each CDI will represent 10 ordinary shares in Ariana Resources.

The offering is structured to include several components: a Broker Firm Offer aimed at Australian retail investors, an Institutional Offer available to investors in Australia, New Zealand, Hong Kong, Singapore, Switzerland, and the UK, and a General Offer for eligible Australian residents.

Shaw and Partners Limited has been appointed as Lead Manager for the ASX offering, with Leeuwin Wealth Pty. Ltd. joining as Co-Manager.

Ariana is planning to lodge a formal prospectus with the Australian Securities and Investments Commission (ASIC) on July 29. Subject to regulatory approvals and minimum subscription thresholds being met, the company anticipates that trading on the ASX under the ticker “AA2” will commence around September 15.

This dual listing initiative received the green light from shareholders during the company’s Annual General Meeting held on July 9. It remains subject to final approval from the ASX.

Ariana Resources holds a diversified portfolio of gold and copper-gold assets, including a major development project in Zimbabwe, operational gold production in Türkiye, and ongoing exploration and development ventures in Cyprus and Kosovo.

This update is based on a press release issued by the company on Monday.

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.

European stocks were broadly mixed on Monday, giving up early gains after a closely watched trade agreement between the United States and the European Union helped ease fears of escalating tensions.

The deal, which averted a potential trade conflict, initially provided a lift to investor sentiment. However, markets have since settled into a more cautious stance as attention shifts to a busy week filled with major catalysts — including a U.S. Federal Reserve rate decision, important economic data, and high-profile tech earnings.

In early afternoon trading, France’s CAC 40 edged up by 0.1%, while Germany’s DAX slipped 0.1%. Meanwhile, the U.K.’s FTSE 100 gained 0.2%.

Technology stocks showed relative strength, with ASML Holding NV (EU:ASML) soaring nearly 5% amid renewed enthusiasm for the sector.

Among corporate movers, Dutch brewing giant Heineken Holding (EU:HEIA) sank 4% despite posting first-half earnings that beat analyst forecasts.

Pernod Ricard (EU:RI) dropped 1.4%, while beer conglomerate Anheuser-Busch InBev (EU:ABI) also fell 1.2%, contributing to weakness in the beverage sector.

On the upside, German wind turbine maker Nordex (TG:NDX1) rallied 5% after announcing it had secured 2.3 gigawatts of new orders in Q2 2025 — an 81.7% increase over the same quarter last year.

British retail giant Tesco (LSE:TSCO) declined more than 1% following an update on its ongoing share repurchase initiative.

With several high-impact events still to come this week, including the Fed’s policy statement and earnings from companies like Apple and Microsoft, markets may continue to show volatility and sector rotation.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures indicate a slightly higher open on Monday, suggesting that the positive momentum from recent sessions may carry forward.

Investor optimism follows news of a last-minute trade deal between the U.S. and the European Union, alongside reports that the U.S. and China are expected to prolong their tariff ceasefire by an additional 90 days.

The new U.S.-EU agreement features a 15% tariff on European imports, a significant reduction from the initially proposed 30%.

In return, the EU has pledged to purchase $750 billion in U.S. energy and boost investments in the American economy by $600 billion.

Despite the upbeat trade news, trading volume might remain muted as investors await the Federal Reserve’s upcoming monetary policy announcement later this week.

Although the Fed is widely expected to keep interest rates steady, the statement could influence future rate expectations.

Market attention will also turn to the Labor Department’s upcoming jobs report and earnings releases from key tech giants including Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Meta Platforms (NASDAQ:META).

Last week ended on a high note for U.S. markets, with the Dow recovering losses from the previous day, while the Nasdaq and S&P 500 closed at new record highs.

On Friday, all three indexes opened modestly higher and maintained gains throughout the session.

The Dow added 208.01 points, or 0.5%, finishing at 44,901.92. The Nasdaq rose 50.36 points, or 0.2%, closing at 21,108.32, and the S&P 500 gained 25.29 points, or 0.4%, ending at 6,388.64.

This strength reflects growing confidence that trade agreements will be finalized ahead of President Donald Trump’s August 1 deadline for extending “reciprocal tariffs.”

With just days remaining, several U.S. trade partners are racing to negotiate deals to avoid steep tariff increases on their exports starting August 1.

In contrast, European markets showed less enthusiasm, weighed down by uncertainty surrounding the trade talks and some disappointing earnings reports.

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.

On Monday afternoon, British equities softened following an initial boost fueled by the weekend’s U.S.-EU trade agreement, while wider European markets maintained their upward momentum.

By 11:55 GMT, the FTSE 100 index had slipped 0.2%, with the British pound easing 0.1% against the U.S. dollar, trading near 1.34. In continental Europe, Germany’s DAX hovered near unchanged levels, and France’s CAC 40 rose modestly by 0.3%.

Details of the U.S.-EU trade agreement

Over the weekend, U.S. President Donald Trump and European Commission President Ursula von der Leyen finalized a trade framework that introduces a 15% import tariff on most European goods entering the U.S. In exchange, the EU committed to investing $600 billion in the American economy.

This agreement, reached during talks in Scotland, represents a compromise following the EU’s initial hopes for zero tariffs. The agreed 15% levy is notably lower than the 30% tariff threat previously floated.

Cranswick delivers robust Q1 results

Cranswick PLC (LSE:CWK), the UK-based food producer, posted a strong start to the year, with like-for-like revenues climbing 7.9%, driven by solid demand for its premium meat lines and recent contract wins.

The company’s total revenue rose 9.7% during the quarter, surpassing its fiscal 2026 guidance of 7%. Growth was further supported by acquisitions such as sausage manufacturer Blakemans, which was integrated earlier this year.

Computacenter lifts profit outlook, shares gain

Shares of Computacenter (LSE:CCC) advanced after the IT services firm upgraded its full-year profit forecast. The company cited unexpectedly robust growth in North America and the UK markets, even as it faces challenges in Germany and France.

Computacenter now anticipates its adjusted EBIT for 2025 to exceed the previous year’s results.

STV Group shares tumble following profit warning

Conversely, STV Group plc (LSE:STVG) shares tumbled more than 23% after the media company issued a profit warning. STV warned that its 2025 revenue and earnings would fall “materially below consensus” due to a weakening advertising and commissioning environment.

The company now forecasts full-year revenue between £165 million and £180 million, with an adjusted operating margin near 7%.

Tasty shares soar as ex-PizzaExpress CEO considered for board role

Meanwhile, Tasty Plc (LSE:TAST) stock jumped over 54% after confirming ongoing advanced talks with former PizzaExpress CEO David Page about a potential board appointment. The casual dining operator issued the statement amid recent share price volatility and media speculation.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. equity markets closed higher on Friday, rounding out a robust week driven by strong corporate earnings and encouraging trade developments.

The S&P 500 climbed 0.40%, closing at a record 6,388.64—its 14th all-time high of 2025. The Nasdaq Composite also hit new record territory, finishing up 0.24% at 21,108.32. Both indexes set fresh intraday peaks during Friday’s session. Meanwhile, the Dow Jones Industrial Average advanced 208.01 points (0.47%) to 44,901.92, within a quarter percent of its December record close.

Over the course of the week, the Dow gained approximately 1.3%, the Nasdaq added 1%, and the S&P 500 rose 1.5%.

Looking ahead, investors face a week packed with potentially market-moving events. Foremost is the August 1 deadline when President Donald Trump plans to impose higher tariffs on numerous U.S. trading partners unless new trade accords are finalized. This looming threat could introduce volatility into an otherwise steady market.

Key scheduled events also include the Federal Reserve’s interest rate decision, the July jobs report, and a heavy slate of earnings from some of the largest U.S. corporations.

“August 1 could mean higher tariffs on nearly 60 U.S. trading partners including the EU, as a bloc, the biggest. A rise from the current ~16% US weighted average tariff to perhaps as much as ~21% is a risk,”
UBS economists highlighted in their market note.

Regarding the employment report, UBS expects a “soggy” result but anticipates underlying figures won’t deteriorate beyond June’s levels. The firm forecasts 95,000 new nonfarm payroll jobs for July and a slight uptick in the unemployment rate to 4.2%.

“Unexpected strength in the data could upend September rate cut calls,”
the analysts added.

Mag-7 Tech Titans Set to Report Earnings

Investor attention will also focus on earnings from four of the so-called “Magnificent Seven” technology leaders: Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Meta Platforms (NASDAQ:META). Their results carry significant weight in the major indexes due to their massive market capitalizations.

A disappointing set of results or tariff-related worries could unsettle the markets.

“Everything can go right for this astoundingly resilient market,”
said Evercore ISI strategists,
“but as our Investor poll last Friday showed a likelihood that punitive tariffs on at least one country could rattle investors, as could an adverse price reaction from Mag 7 reporters.”

So far, roughly 30% of S&P 500 companies have reported second-quarter earnings, with earnings growth expected at 7.7% year-over-year, according to LSEG IBES. This is an improvement on the 5.8% forecast made at the start of July.

Other notable companies reporting this week include Boeing (NYSE:BA), Spotify (NYSE:SPOT), Booking (NASDAQ:BKNG), Visa (NYSE:V), ARM Holdings (LSE:ARM), and Qualcomm (NASDAQ:QCOM).

Analysts’ Take on Market Direction

Morgan Stanley commented:

“The rolling recovery is underway, and we lean more toward our 12-month bull case (7200). Drivers are positive operating leverage, AI adoption, dollar weakness, cash tax savings, easy growth comparisons, pent-up demand and Fed cuts. Industrials remains our top sector pick.”

RBC Capital Markets observed:

“Even though the S&P 500 has crept higher over the past week, the ability to manage through tariffs has not been uniform. Additionally, discussion of 2026 has been fairly light so far. That makes sense to us given that we are only midway through 2025, but it also poses a risk to the path of stock prices if company outlooks for 2026 don’t end up being as rosy as investors have been anticipating. We continue to be ready for choppy conditions in the stock market in the back half of 2025.”

Evercore ISI noted:

“FOMO and Speculation does not mean that stocks move in a straight line higher, even as it does increase the probability that the long term destination is higher. A market trading at nearly 25x and where complacency is reflected by plunging index volatility faces a barrage of events in the week 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.

Shares of Tasty Plc (LSE:TAST) soared by 54.5% after the casual dining group confirmed advanced discussions with former PizzaExpress CEO David Page about potentially joining its board, fueling optimism over the company’s strategic direction.

The dramatic rally followed a company statement issued in response to recent market activity and media reports. Tasty acknowledged it has held advanced conversations with Page, who previously led PizzaExpress plc and served as Executive Chairman of The Fulham Shore plc.

The company also confirmed ongoing talks with Nicholas Wong, who formerly held the position of Finance Director at Fulham Shore, hinting at further leadership shifts.

Alongside these board-level discussions, Tasty disclosed that it is “evaluating funding options with a view to investing in future strategic opportunities,” with a possible equity placing under consideration.

Tasty stated it will provide additional updates “as and when appropriate.”

The sharp stock rally reflects renewed investor confidence, spurred by the prospect of bringing seasoned executives with proven track records in the restaurant industry into the fold.

Page’s experience leading well-known brands could pave the way for a refreshed strategy at the AIM-listed chain, which operates in the increasingly tough casual dining segment—a space challenged by rising operational costs and shifting consumer behaviors.

The company’s interest in new funding avenues suggests it may be gearing up for expansion, restructuring, or a strategic repositioning as it navigates the evolving market landscape.

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 declined on Monday, pressured by warnings from Bank of America that further weakness could spark a wave of stop-loss selling by commodity trading advisors (CTAs). The yellow metal has been under sustained pressure over the past week, with prices nearing levels that could prompt algorithmic traders to start unwinding bullish bets.

According to a note from Bank of America, medium- to long-term trend-following funds are likely holding close to their maximum long positions in gold. The bank’s models suggest that a drop of between 1% and 3.5% in futures prices from current levels could “accelerate stop-loss selling” as these systematic traders rush to exit positions to cap their losses.

The bank’s commentary also extended to other areas of the commodities space. It pointed to a mixed outlook in copper markets, where CME copper futures could attract more buying from long-term trend followers, while contracts on the London Metal Exchange are facing downside pressure. This split, Bank of America noted, reflects differing regional trading dynamics and sentiment.

In agriculture, Bank of America flagged significant positioning imbalances in soybean-related products. It characterized soybean oil as being “stretched long,” while noting that soybean meal positions are “stretched short.” Such asymmetry in positioning could lead to sharp moves in either direction.

Notably, the bank sees soybean meal as especially vulnerable to a reversal. A shift in sentiment could prompt short-covering from CTAs, leading to what Bank of America described as a “significant move higher” if bullish momentum takes hold.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Shares of FirstGroup (LSE:FGP) climbed 3% following the company’s announcement that it has acquired Tetley’s Motor Services Limited, a coach and bus operator headquartered in Leeds.

This deal adds 55 vehicles to FirstGroup’s existing fleet, as well as a sizeable depot located in central Leeds, right next to one of First Bus’s current facilities. Tetley’s Coaches reported an EBIT of £1.4 million on revenues of £5.3 million for the year ending March 31, 2024.

Tetley’s offers a variety of transport services, including routes for schools, universities, employee shuttles, and private hires across Leeds and West Yorkshire. Many of Tetley’s contracts have been recently renewed, lending added stability to its operations. Ian Tetley, Managing Director of Tetley’s Coaches, will stay on through the transition period as the company integrates with First Bus.

“We view FirstGroup’s series of bus bolt-on acquisitions favourably, so welcome another margin-accretive deal, which would further diversify Bus revenues. We think FirstGroup has generally paid lower transaction multiples than both our valuation, and also the market-implied valuation of Bus, meaning these bolt-ons are not reliant on potential synergies to be accretive,” commented analysts from RBC.

This acquisition marks another strategic effort by FirstGroup to grow its transportation business through focused purchases within the UK market.

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.

On Monday, the U.S. dollar rallied as the euro retreated, spurred by the announcement of a trade agreement between the United States and the European Union, just ahead of this week’s Federal Reserve meeting.

By 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against six other major currencies, had risen 0.4% to 97.815. Despite the gain, it was still set for a roughly 1% decline over the week, marking its weakest stretch in a month.

Trade pact bolsters dollar; eyes on Fed meeting

U.S. President Donald Trump and European Commission President Ursula von der Leyen unveiled the deal over the weekend in Scotland. The agreement sets a 15% import tariff on European goods entering the U.S., halving the initially threatened 30% rate scheduled for early next month.

Trump highlighted that the European Union intends to invest around $600 billion in the U.S. economy and significantly increase its purchases of American energy and military equipment.

This deal closely follows a similar agreement reached last week with Japan, where Tokyo committed to investing approximately $550 billion in the U.S., paired with a 15% tariff on its vehicle and other imports.

As worries about the economic impact of steep tariffs fade, market focus is shifting toward upcoming economic indicators and central bank meetings, especially the Federal Reserve’s policy decision later this week.

“The U.S. macro data includes jobs data (JOLTS Tuesday, NFP Friday), a likely bounce back in second quarter GDP on Wednesday and stickier inflation on Thursday (June core PCE), which should tick back up to 0.3% month-on-month,” said analysts at ING, in a note.

“This should leave the majority of the Federal Reserve comfortable in their patient position on interest rates (FOMC meeting on Wednesday) and see a further pricing out of the prospects of a September Fed rate cut.”

Euro falls further

In European markets, the EUR/USD pair dropped 0.5% to 1.1688, pulling back from the near four-year peak reached earlier this month after the trade deal announcement.

“With a speculative market already reasonably long euros and a 2% per annum cost of carry against the dollar to deal with, we do not see the case for EUR/USD to immediately push through the highs at 1.1830,” ING analysts commented.

“Instead, we have a bias for EUR/USD drifting below 1.1700 and perhaps all the way to 1.1600 if the Fed continues to resist pressure to cut rates this Wednesday.”

Following last week’s decision by the European Central Bank to hold interest rates steady, market attention turns to the release of second-quarter GDP data on Wednesday and the eurozone’s July flash inflation figure on Friday, both key to assessing the likelihood of a rate cut in September.

Meanwhile, GBP/USD slipped 0.2% to 1.3409 amid concerns over Britain’s struggling economy and the government’s plans to raise taxes this autumn to shore up public finances.

“We favor a retest of decent support at 1.3370, below which losses can accelerate – perhaps all the way to 1.3150 if the US data/FOMC event risk this week is dollar positive enough,” ING said.

Yen weakens ahead of BOJ meeting

Elsewhere, USD/JPY climbed 0.4% to 148.25, as the Bank of Japan prepares to maintain its interest rates on Thursday amid global trade stability and domestic political uncertainty.

Analysts note that the U.S.-Japan trade agreement signed last week could give policymakers some leeway to consider a rate hike later this year.

Still, investor sentiment remains cautious due to ongoing political uncertainty following the ruling coalition’s loss in last week’s upper house elections and speculation around Prime Minister Shigeru Ishiba’s potential resignation.

The Australian dollar lost 0.7% to 0.6521, giving back some of last week’s strong gains, while the Chinese yuan edged up 0.1% to 7.1738 against the dollar.

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.