ADVFN UK Market News

Author: Fiona Craig

  • Galliford Try Awarded Spot on £15.4bn Education Construction Framework

    Galliford Try Awarded Spot on £15.4bn Education Construction Framework

    Galliford Try (LSE:GFRD) has been appointed to the Department for Education’s new £15.4 billion Construction Framework 25, securing positions for its Building division across multiple project categories.

    The framework covers major schemes valued above £12 million throughout England, as well as smaller-scale projects in London, the South East and South West. Spanning six years, with options to extend, the agreement reinforces Galliford Try’s presence in the UK education sector and aligns with its strategy of sustainable, long-term growth.

    The award strengthens the group’s partnership with the Department for Education and enhances visibility over its future pipeline of school and college developments.

    The appointment highlights Galliford Try’s ongoing role in delivering large-scale education infrastructure and builds on its track record of providing high-quality learning environments nationwide. By securing places on both higher- and lower-value lots, the company positions itself to compete for a broad range of upcoming projects, supporting revenue stability and reinforcing its standing among public-sector contractors.

    Galliford Try’s outlook reflects supportive technical trends and a sound financial base, despite pressures on revenue expansion and margins. Its ongoing share buyback programme further underpins shareholder returns, appealing to investors seeking dependable income and relative stability.

    More about Galliford Try

    Galliford Try is a UK-based construction group listed on the London Stock Exchange and a constituent of the FTSE 250. Operating under the Galliford Try and Morrison Construction brands, the company delivers building and infrastructure projects for public, private and regulated-sector clients across the UK. Education remains a key and long-established segment within its construction portfolio.

  • Great Southern Copper Expands High-Grade Copper-Silver Footprint at Cerro Negro

    Great Southern Copper Expands High-Grade Copper-Silver Footprint at Cerro Negro

    Great Southern Copper PLC (LSE:GSCU) announced new Phase III drilling results from its Cerro Negro prospect in Chile, confirming the presence of multiple stacked high-grade copper-silver lenses at the Mostaza deposit and indicating that mineralisation continues to widen both at depth and along strike.

    Recent diamond drill holes DD033, DD036 and DD034 delivered notable copper-silver intersections within a broader zone of lower-grade material. The presence of associated lead-zinc mineralisation supports the interpretation of a zoned system that may extend beyond 80 metres in overall thickness.

    The latest findings significantly increase the perceived scale and copper potential of the Mostaza discovery. The results point to both high-grade lens-style mineralisation and larger bulk-tonnage opportunities, potentially strengthening the long-term economic prospects of the project.

    The company is now preparing for a Phase IV drilling campaign focused on resource definition and further exploration. Additional Phase III assay results, along with metallurgical testing, are still pending and are expected to help refine the geological model and prioritise the most prospective drill targets.

    The company’s near-term outlook remains influenced by its financial profile, characterised by pre-revenue operations, expanding losses and ongoing negative free cash flow, although it carries no reported debt. Technical indicators appear mixed to weak, with the share price trading below its 20-day moving average and momentum signals subdued. Valuation metrics such as P/E ratio and dividend yield are not currently applicable.

    More about Great Southern Copper PLC

    Great Southern Copper is a London-listed exploration company focused on copper, gold and silver assets in Chile. Its flagship Especularita project includes the Cerro Negro prospect and the historic Mostaza mine. The project benefits from low elevation and proximity to established mining infrastructure. The company holds an option to acquire a 100% interest in the Cerro Negro project.

  • Carrefour Unveils New Strategy to Lift Cash Flow and Margins

    Carrefour Unveils New Strategy to Lift Cash Flow and Margins

    Carrefour (EU:CA), Europe’s largest retailer, announced plans on Monday to enhance cash generation and improve profitability under a fresh strategic roadmap led by Chief Executive Alexandre Bompard.

    The group is targeting an operating margin of 3.2% by 2028, rising to 3.5% by 2030, as part of a broader effort to sharpen its focus on core markets including France, Spain and Brazil.

    Ahead of a scheduled investor presentation, Carrefour said it expects to generate cumulative net free cash flow of €5 billion over the 2026–2028 period.

    Bompard, who is set to outline his third strategic plan since assuming leadership in July 2017, said: “Carrefour is today adopting an ambitious new strategic plan, radically focused on growth and improving profitability.”

    The CEO now faces the task of steering the company through another turnaround phase, as the French retail market remains intensely competitive and consumer demand continues to be subdued in both France and Brazil.

    Carrefour’s operating margin has steadily eroded since the onset of the pandemic, slipping from 3.1% in 2021 to 2.6% in 2025.

    Despite two earlier strategic overhauls, Carrefour’s share price remains nearly 29% below its level when Bompard took charge of the company in July 2017.

  • Fed Minutes Loom; Palo Alto Networks Drops – What’s Driving Markets: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Fed Minutes Loom; Palo Alto Networks Drops – What’s Driving Markets: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stock futures ticked higher early Wednesday as investors awaited the release of the Federal Reserve’s January meeting minutes and reviewed the latest corporate updates. Shares of cybersecurity firm Palo Alto Networks (NASDAQ:PANW) declined after issuing softer-than-expected earnings guidance. Meanwhile, Warren Buffett’s final quarter at the helm of Berkshire Hathaway (NYSE:BRK.B) featured significant portfolio adjustments, including reductions in major technology and banking holdings.

    Futures edge up

    By 02:43 ET, Dow Jones futures were up 55 points, or 0.1%. S&P 500 futures gained 12 points, or 0.2%, while Nasdaq 100 futures slipped 35 points, or 0.1%.

    Wall Street’s main indices closed higher in the prior session, helped by a modest recovery in technology stocks that had recently been under pressure. Strength in Nvidia (NASDAQ:NVDA) and Apple (NASDAQ:AAPL) offset weakness in Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL), lifting the S&P 500 information technology sector by 0.5%.

    However, uncertainty continues to surround the tech sector following the rollout of new artificial intelligence tools. Some investors are concerned that AI advancements could disrupt industries spanning software, financial services, real estate, and logistics.

    There are also lingering questions about when heavy spending on AI-focused data centers will begin to generate meaningful returns, especially as large-cap tech companies have outlined substantial capital commitments to infrastructure supporting AI systems.

    “Tech investors remain traumatized by the volatility of the last several weeks and the shifting AI conversation, although there is growing anticipation for Nvidia’s earnings report next week (which most people expect will be strong) while software is still firmly in the penalty box despite the extremely oversold price action,” analysts at Vital Knowledge said.

    Focus on Fed minutes

    The minutes from the Federal Reserve’s January policy meeting, scheduled for release later Wednesday, are expected to provide additional insight into the central bank’s rate outlook.

    At that meeting, two officials—Stephen Miran and Christopher Waller—voted against the decision to keep rates unchanged, effectively pausing the easing cycle that began in mid-2024.

    Policymakers pointed to a resilient labor market and inflation that remains above target but is stabilizing as reasons to hold rates within the 3.5% to 3.75% range.

    Markets widely expect the Fed to maintain this range at least through June, adopting a cautious stance as it evaluates incoming data on jobs and inflation.

    Fed Chair Jerome Powell is nearing the end of his term, and President Donald Trump has nominated former Fed Governor Kevin Warsh as his successor. Investors are assessing how a leadership change might influence future rate decisions.

    Oil rebounds on US–Iran developments

    Oil prices posted modest gains after sliding nearly 2% in the prior session, as signs of progress in U.S.–Iran nuclear talks helped ease concerns over potential supply disruptions.

    As of 02:58 ET, Brent crude futures for April delivery rose 0.3% to $67.61 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.2% to $62.40 per barrel.

    Brent had fallen almost 2% on Tuesday, while WTI dropped 1%.

    Reports suggested that U.S. and Iranian negotiators agreed on key “guiding principles” during talks in Switzerland, raising hopes for a deal that could eventually bring additional Iranian oil to global markets.

    Still, Iran’s foreign minister cautioned that the understanding does not signal that a comprehensive agreement is close.

    Palo Alto Networks declines on guidance

    Palo Alto Networks (NASDAQ:PANW) shares fell in after-hours trading despite posting better-than-expected quarterly results, as investors reacted to weaker profit guidance.

    The Santa Clara-based cybersecurity company reported fiscal second-quarter earnings of $1.03 per share on revenue of $2.59 billion, beating analyst forecasts of $0.94 per share on $2.58 billion in revenue.

    However, the company revised its fiscal 2026 earnings per share outlook to a range of $3.65 to $3.70, down from a previous forecast of $3.80 to $3.90. The consensus estimate had been $3.87.

    Berkshire trims Apple and Bank of America stakes

    Berkshire Hathaway (NYSE:BRK.B) reduced its holdings in Apple and Bank of America (NYSE:BAC) and initiated a new investment in New York Times (NYSE:NYT) during Warren Buffett’s final quarter as chief executive.

    A regulatory filing showed that Berkshire sold about 10.3 million Apple shares in the quarter ended December 31, marking the third consecutive quarter of reductions in its stake. The conglomerate also cut its position in Bank of America by 50.8 million shares.

    At the same time, Berkshire purchased roughly 5.1 million shares of New York Times, backing a company that has expanded beyond traditional news publishing into digital subscription offerings such as games and recipes.

    Buffett, 95, stepped down as CEO at the end of 2025, handing over leadership to his chosen successor, Greg Abel, who is set to deliver his first annual shareholder letter later this month.

  • Oil Stabilizes After Slide as Markets Monitor US–Iran Diplomacy

    Oil Stabilizes After Slide as Markets Monitor US–Iran Diplomacy

    Oil prices found some footing in Asian trading on Wednesday, following a roughly 2% drop in the previous session, as investors assessed developments in U.S.–Iran negotiations while remaining cautious about the chances of a swift agreement that could ease supply risks.

    Brent crude futures rose 15 cents, or 0.22%, to $67.57 a barrel by 0737 GMT. U.S. West Texas Intermediate (WTI) crude gained 12 cents, or 0.19%, to $62.45. Both benchmarks remained near their lowest levels in about two weeks.

    Tehran and Washington agreed on key “guiding principles” during talks on Tuesday aimed at resolving their long-running nuclear dispute. However, Iranian Foreign Minister Abbas Araqchi stressed that such progress does not imply that a comprehensive deal is close.

    Some analysts questioned how quickly negotiations could move forward.

    “Crude oil prices look poised for a technical rebound … However, a finalised agreement remains distant, and markets remain cautious about the durability of diplomatic momentum,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.

    Separately, Iran and Russia are scheduled to carry out joint naval drills in the Sea of Oman and the northern Indian Ocean on Thursday, according to Iran’s semi-official Fars news agency. The exercises follow recent maneuvers by Iran’s Revolutionary Guards in the Strait of Hormuz.

    Political risk advisory Eurasia Group wrote in a note on Tuesday that it assigns a 65% likelihood of U.S. military strikes against Iran by the end of April.

    Attention is also turning to U.S. supply data, with the American Petroleum Institute set to publish its weekly inventory figures later Wednesday, followed by official statistics from the Energy Information Administration on Thursday.

    A Reuters survey indicated that analysts expect U.S. crude stockpiles to have risen last week, while gasoline and distillate inventories likely declined.

    Forecasts suggest crude inventories increased by about 2.3 million barrels in the week to February 13. Gasoline stocks are projected to have fallen by roughly 200,000 barrels, while distillate inventories — including diesel and heating oil — are seen dropping by around 1.6 million barrels.

    Meanwhile, Ukrainian and Russian officials wrapped up the first day of U.S.-facilitated peace talks in Geneva on Tuesday, as President Donald Trump urged Kyiv to move swiftly toward a settlement to end the four-year war.

    “Any shift in that geopolitical axis could add risk premium (to prices),” Sachdeva added.

  • Gold Bounces Back as Buyers Step In; Focus Turns to Fed Signals

    Gold Bounces Back as Buyers Step In; Focus Turns to Fed Signals

    Gold prices recovered in Asian trading on Wednesday, rebounding after a drop of more than 2% in the previous session as investors moved to buy on weakness. Market participants are also awaiting further guidance on the Federal Reserve’s policy outlook.

    Spot gold climbed 1.2% to $4,934.16 per ounce by 00:58 ET (05:58 GMT), while U.S. gold futures rose 1% to $4,954.91 per ounce.

    Trading activity in Asia remained subdued, with several major markets closed for the Lunar New Year holiday, keeping volumes light and limiting broader volatility.

    The precious metal had fallen sharply on Tuesday as improving risk sentiment—driven by indications of progress in U.S.–Iran negotiations—reduced demand for traditional safe-haven assets.

    Progress in US-Iran talks; Fed minutes awaited

    Reports indicated that Washington and Tehran had agreed on key “guiding principles” for continued discussions, boosting optimism about a diplomatic breakthrough and weighing on bullion’s appeal.

    Gold’s earlier losses were exacerbated by a stronger U.S. dollar, which makes the metal more expensive for buyers using other currencies, as well as fading expectations for imminent U.S. interest-rate cuts.

    The U.S. Dollar Index edged up 0.1% during Asian hours, following a 0.3% gain in the prior session.

    Investors are now looking ahead to the release of minutes from the Federal Reserve’s January meeting later in the day, which may shed light on the timing and scope of any future monetary easing.

    Attention is also centered on Friday’s U.S. personal consumption expenditures (PCE) price index for December, the Fed’s preferred inflation measure, which could influence expectations around interest rates.

    Higher borrowing costs typically pressure non-yielding assets such as gold, while expectations of lower rates tend to provide support.

    Broader metals rally; silver jumps

    Elsewhere in the metals complex, prices also advanced.

    Silver surged nearly 3% to $75.77 per ounce, and platinum gained 2% to $2,060.60 per ounce.

    On the London Metal Exchange, benchmark copper futures rose 1% to $12,705.20 per ton, while U.S. copper futures added 0.3% to $5.69 per pound.

  • European Shares Advance on Earnings Strength; U.K. Inflation Drops Sharply

    European Shares Advance on Earnings Strength; U.K. Inflation Drops Sharply

    European equities moved modestly higher on Wednesday as investors assessed another batch of corporate results alongside data showing a marked slowdown in U.K. inflation.

    At 08:15 GMT, Germany’s DAX climbed 0.7%, France’s CAC 40 added 0.5%, and London’s FTSE 100 rose 0.5%.

    Earnings season supports sentiment

    Markets in Europe took cues from slight overnight gains on Wall Street, despite ongoing debate about stretched valuations tied to artificial intelligence and its broader economic implications.

    The quarterly reporting season remains central to investor sentiment. So far, results have been broadly encouraging: roughly 60% of European companies have exceeded earnings forecasts, compared with a historical average of 54% beating expectations in a typical quarter, according to LSEG data.

    Among individual movers, miner Glencore (LSE:GLEN) posted a decline in full-year earnings, as elevated copper prices were insufficient to counter weaker profits from its coal division.

    Defense contractor BAE Systems (LSE:BA.) increased shareholder returns after booking record defense orders, supported by rising military expenditure across Europe and the United States.

    Straumann Group (TG:QS51) topped fourth-quarter revenue forecasts and reported margins consistent with guidance. However, the dental implants maker flagged ongoing weakness in China and warned that currency headwinds could weigh on reported earnings in 2026.

    Castellum (AMEX:CTM) swung to a net loss in the fourth quarter due to negative property revaluations, although the Nordic real estate group continued to grow income from property management operations.

    U.K. inflation eases

    Fresh data showed Britain’s annual inflation rate slowed in January to its lowest level since March of last year, strengthening expectations of a rate cut from the Bank of England in the coming month.

    Consumer prices increased 3.0% year over year, down from 3.4% in December, according to the Office for National Statistics.

    While inflation remains above the BoE’s 2% target, policymakers anticipate a sharper decline toward that level in April, as last year’s increases in utility bills and other regulated tariffs drop out of the annual comparison.

    Market participants largely expect the central bank to lower its benchmark rate to 3.5% in March, following a narrowly split decision in February to leave rates unchanged.

    In France, inflation also moderated, with consumer prices rising 0.4% annually in January compared with 0.7% the previous month.

    Oil prices rebound

    Crude prices ticked higher on Wednesday after steep losses in the prior session, as reports of progress in U.S.-Iran nuclear negotiations reduced concerns about potential supply disruptions.

    Brent futures rose 0.5% to $67.74 per barrel, while U.S. West Texas Intermediate crude gained 0.5% to $62.54 per barrel. On Tuesday, Brent had fallen nearly 2% and WTI dropped 1%.

    According to reports, Washington and Tehran reached agreement on key “guiding principles” during talks on Tuesday, fueling hopes of a deal that could ultimately allow more Iranian oil onto global markets.

    The discussions are closely monitored by energy traders, given Iran’s status as a significant oil producer and its position along the Strait of Hormuz, a critical chokepoint through which about one-fifth of global oil consumption flows daily.

  • FTSE 100 Rises as UK Inflation Eases; Pound Recovers; BAE and Glencore in Spotlight

    FTSE 100 Rises as UK Inflation Eases; Pound Recovers; BAE and Glencore in Spotlight

    London equities opened modestly higher on Wednesday after fresh data showed UK inflation slowed in January, strengthening expectations that the Bank of England could deliver interest rate cuts in both March and June. Sterling also steadied, clawing back some losses after a sharp drop in the previous session.

    By 0806 GMT, the benchmark FTSE 100 was up 0.4%. The pound edged 0.01% higher against the dollar to 1.3560, recovering following Tuesday’s slide triggered by weaker labour market figures.

    Elsewhere in Europe, Germany’s DAX gained 0.5%, while France’s CAC 40 advanced 0.3%.

    UK roundup

    Official figures showed Britain’s annual inflation rate cooled to 3.0% in January from 3.4% in December, bolstering the case for a rate reduction at the Bank of England’s next policy meeting in March. December’s reading had ticked up from 3.2% in November, marking the first increase in five months.

    On a monthly basis, consumer prices fell 0.5%, reversing a 0.4% rise in December. Core CPI, which excludes volatile food and energy costs, declined 0.6% month over month and eased to 3.1% year on year from 3.2% previously.

    ING’s UK economist James Smith described the inflation data as “a bit of a mixed bag,” noting that while food inflation is down sharply, services inflation remains stickier. Smith added that “the real action will come in April” when headline and services inflation figures could make the Bank “more comfortable with the inflation outlook.”

    Corporate focus

    Shares of BAE Systems (LSE:BA.) were in focus after the defence group lifted its dividend following record order intake, driven by higher military spending across Europe and the United States.

    The company proposed a final dividend of 22.8 pence, taking the full-year payout to 36.3 pence, a 10% increase. It also bought back 30 million shares during the year at a cost of £502 million.

    Meanwhile, Glencore (LSE:GLEN) posted a 6% drop in full-year core earnings, as strength in copper prices failed to offset weaker profitability in its coal division. Adjusted EBITDA came in at $13.5 billion, while revenue rose 7% to $247.5 billion. Adjusted EBIT fell 14% to $6 billion, and earnings per share were $0.03.

    Separately, YouGov Plc (LSE:YOU) confirmed the appointment of Ian Griffiths as permanent chair. Griffiths, who joined the board in September 2025, succeeds Deborah Davis, who had served in the role on an interim basis since February 2025.

  • Ian Griffiths Confirmed as Permanent Chair of YouGov

    Ian Griffiths Confirmed as Permanent Chair of YouGov

    YouGov Plc (LSE:YOU) announced on Wednesday that Ian Griffiths has been formally appointed as its permanent chair, succeeding Deborah Davis, who had been serving in the role on an interim basis since February 2025.

    Griffiths became a member of YouGov’s board in September 2025 and now steps into the position on a full-time basis.

    He brings extensive senior leadership experience, having previously held the roles of chief financial officer and chief operating officer at ITV Plc (LON:ITV) for more than ten years.

    Davis had been acting as chair for the past year at the London-listed market research group before Griffiths’ permanent appointment.

  • BAE Systems FY25 Results Boost Dividend as Defense Orders Reach New High

    BAE Systems FY25 Results Boost Dividend as Defense Orders Reach New High

    BAE Systems (LSE:BA.) increased its shareholder distributions on Wednesday after securing record defense orders, with rising military expenditure in Europe and the United States driving revenue expansion and strong cash performance.

    The company’s board proposed a final dividend of 22.8 pence per share, bringing the total annual payout to 36.3 pence, up 10% from the prior year. During the year, BAE Systems also repurchased 30 million shares for £502 million.

    Sales climbed 10% at constant exchange rates to an all-time high of £30.7 billion. Underlying EBIT rose 12% to £3.32 billion, while underlying earnings per share increased 12% to 75.2 pence.

    Free cash flow came in at £2.16 billion, aided by customer advance payments received toward year-end. This was partially offset by increased capital expenditures and higher research and development outlays.

    Order intake totalled £36.8 billion, pushing the order backlog to a record £83.6 billion. The company reported a book-to-bill ratio of 1.2.

    Chief executive Charles Woodburn said the performance reflected “another year of strong operational and financial performance.”

    On a reported IFRS basis, revenue advanced 8% to £28.3 billion and operating profit rose 9% to £2.93 billion. Basic earnings per share increased 6% to 68.8 pence, impacted by higher amortisation charges tied to previous acquisitions.

    Net debt, excluding lease liabilities, declined 22% to £3.84 billion at year-end.

    By division, Electronic Systems generated £7.5 billion in sales, up 8%, with underlying EBIT of £1.16 billion. Platforms & Services posted a 17% rise in revenue to £5 billion and a 30% jump in underlying EBIT to £576 million.

    The Air segment delivered £9.3 billion in revenue, up 9%, while Maritime revenue grew 11% to £6.8 billion. However, Maritime underlying EBIT slipped 3% to £457 million, reflecting early-stage programme development and capacity investments. Cyber & Intelligence revenue edged up 2% to £2.4 billion.

    Looking ahead, BAE Systems said its 2026 guidance assumes an exchange rate of $1.32 to the pound, with an estimated sensitivity of around £500 million in revenue and £70 million in underlying EBIT for every 10-cent shift in the pound-dollar exchange rate.

    In total, the company returned £1.53 billion to shareholders over the year through dividends and share buybacks.