Author: Fiona Craig

European equities edged higher on Friday, buoyed by overnight strength from Wall Street and a flurry of upbeat earnings reports on both sides of the Atlantic.

By 07:05 GMT, Germany’s DAX advanced 0.5%, France’s CAC 40 gained 0.6%, and the UK’s FTSE 100 rose 0.2%. Markets responded positively to Thursday’s U.S. session, where the S&P 500 and Nasdaq Composite both closed at record highs, fueled by strong earnings from major U.S. corporations including Netflix, PepsiCo, and United Airlines.

Corporate Highlights in Focus

In Europe, earnings season gathered pace. British luxury fashion house Burberry (LSE:BRBY) posted a smaller-than-expected 1% decline in comparable retail sales for Q1, hinting at a potential stabilization after quarters of underperformance.

Saab (BIT:1SAAB) raised its full-year organic sales forecast after posting a 32% rise in second-quarter sales, signaling robust demand for its defense products.

Consumer goods group Reckitt Benckiser (LSE:RKT) confirmed the divestment of its Essential Home division to private equity firm Advent International in a deal worth up to $4.8 billion including debt, as it continues to streamline operations.

Meanwhile, Electrolux returned to profitability in Q2, reversing heavy losses from a year earlier, led by improved performance in North America.

Economic Indicators and Central Bank Outlook

On the macro front, German producer prices fell 1.3% in June year-on-year, matching forecasts and reinforcing signs of subdued inflation in Europe’s largest economy. This followed eurozone CPI data confirming annual inflation at 2.0%—right on the European Central Bank’s target.

With inflation cooling, the ECB may have more room to consider further easing, although geopolitical uncertainties—such as proposed 30% U.S. tariffs on EU imports—add complexity to the central bank’s upcoming rate decisions, with a policy announcement due July 23–24.

Oil Prices Rise on Supply Disruptions

Crude prices edged higher on Friday amid fresh supply concerns. Brent crude was up 0.6% to $69.92 per barrel, while WTI rose 0.6% to $67.96.

Drone strikes on oil facilities in Iraqi Kurdistan have taken out roughly half the region’s output over four days, contributing to tighter supply conditions. Additionally, strong summer travel demand has lifted global oil consumption to an average of 105.2 million barrels per day in early July, up 600,000 bpd from a year ago, according to JPMorgan.

Despite OPEC+’s decision to boost production more than expected, the International Energy Agency last week warned that underlying tightness in the oil market could persist.

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.

Bridgepoint Group PLC (LSE:BPT) reported a drop in first-half 2025 pre-tax profit to £60.6 million, down from £99.9 million in the same period last year. Despite the decline, the firm highlighted strong underlying performance, robust fundraising momentum, and a healthy pace of asset exits.

Management fee income climbed to £207.1 million, or £201.4 million when excluding catch-up fees—an 11% year-on-year increase on a comparable basis. Fee-related earnings rose 22% to £70.3 million (excluding catch-ups), while performance-related earnings held steady at £57.6 million. Adjusted EBITDA came in at £122.3 million, improving on last year’s results when excluding one-off items.

Bridgepoint’s assets under management rose 20% to €86.6 billion, with fee-paying AUM ticking up 2% to €37.5 billion. The group returned €2.6 billion to investors in the first half of the year, benefiting from timely exits and earlier-than-expected carried interest recognition from BE VI.

On the fundraising front, Bridgepoint reported continued strength. Its ECP VI fund began generating fees in May, while BDL IV secured €2.2 billion by the end of June. CEO Raoul Hughes expressed confidence in reaching the firm’s €24 billion fundraising target by 2026.

“Our ability to originate high-quality transactions and maintain a disciplined investment approach continues to generate strong returns,” Hughes said. He noted an uptick in deal activity and growing interest from limited partners in both European mid-market opportunities and U.S. energy infrastructure.

The company reaffirmed its full-year guidance, pointing to a solid pipeline of upcoming divestments and expanding investor appetite across its core sectors.

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.

Reckitt Benckiser Group (LSE:RKT) has reached an agreement to divest most of its Essential Home division to private equity firm Advent International in a transaction valued at as much as $4.8 billion (£3.6 billion). The deal, expected to close by year-end, will see Reckitt retain a 30% ownership interest and receive deferred and contingent payments totaling $1.3 billion (£1.0 billion).

The consumer goods giant plans to return excess capital to shareholders via a special dividend of $2.2 billion (£1.6 billion), alongside its ongoing share repurchase program. This shareholder payout notably surpasses the immediate net proceeds Reckitt expects from the sale, estimated at $1.3 billion (£0.9 billion).

Reckitt is scheduled to announce the next tranche of its share buyback alongside its half-year results on July 24, 2025.

Although the transaction’s value falls short of prior estimates near $5.8 billion (£4.3 billion), finalizing the sale could enhance management’s credibility and refocus investor attention on Reckitt’s core operations. Nonetheless, ongoing legal challenges related to NEC remain a risk factor.

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.

UK equities edged higher on Friday, supported by a steady pound trading just above $1.34. Burberry demonstrated signs of recovery, Bridgepoint delivered solid interim results, while GlaxoSmithKline faced pressure following a negative FDA panel opinion on its cancer drug.

By 08:45 GMT, the FTSE 100 was up 0.2%, with the British pound strengthening 0.2% against the dollar, holding above the 1.34 level. In Europe, Germany’s DAX advanced 0.4% and France’s CAC 40 climbed 0.6%.

GSK shares fall sharply after FDA panel rejects Blenrep benefit-risk profile

Shares of GlaxoSmithKline (LSE:GSK) dropped more than 6% after an FDA advisory committee voted against the benefit-risk balance of its multiple myeloma treatment, Blenrep (belantamab mafodotin-blmf). The Oncologic Drugs Advisory Committee reviewed the drug’s combination therapies for patients with relapsed or refractory multiple myeloma who had previously undergone at least one therapy line. The panel found that the proposed dosing regimen’s benefits did not outweigh associated risks. The FDA will weigh this non-binding recommendation ahead of its final decision expected by July 23.

Burberry’s sales decline less than anticipated

In corporate updates, Burberry (LSE:BRBY) reported a modest 1% drop in comparable retail sales for Q1 ending June 28, outperforming analysts’ expectations of a 3% decrease. This suggests early signs of stabilization for the luxury fashion house. Overall retail sales declined 2% on a constant currency basis, with retail space reductions contributing a 1% drag. Negative currency effects shaved off 4%, resulting in reported revenues of £433 million, down 6% year-on-year.

Bridgepoint posts lower H1 profits despite strong performance

Bridgepoint Group PLC (LSE:BPT) announced its half-year results showing robust fund performance, profitable exits, and steady fundraising progress. Pre-tax profit stood at £60.6 million, down from £99.9 million a year prior. Management fee income rose 11% on a like-for-like basis, excluding catch-up fees, reaching £207.1 million.

Reckitt Benckiser agrees to sell majority stake in Essential Home business

Reckitt Benckiser Group (LSE:RKT) is set to sell most of its Essential Home division to Advent International for up to $4.8 billion (£3.6 billion). Reckitt will retain a 30% stake and is set to receive deferred and contingent payments totaling $1.3 billion (£1.0 billion). The transaction is anticipated to close by the end of 2025.

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.

GlaxoSmithKline (LSE:GSK) revealed that the FDA’s Oncologic Drugs Advisory Committee recently voted against the proposed benefit-risk profile of Blenrep combinations for treating relapsed or refractory multiple myeloma at the current dosage. Despite this setback, GSK remains optimistic about Blenrep’s prospects and continues working closely with the FDA, underscoring the urgent need for new therapies in this difficult-to-treat cancer. Blenrep combinations have gained approval in various countries, including the UK and Japan, and are undergoing regulatory review in multiple other regions.

This development underscores the complexities faced in advancing treatments for multiple myeloma, a disease with limited curative options and high patient demand.

GSK’s shares are underpinned by strong financial results and encouraging commentary from recent earnings calls, particularly driven by specialty medicines and consistent shareholder returns. Nevertheless, short-term technical signals show limited momentum, while debt levels pose some concerns. Valuation metrics remain fair, with a reasonable dividend yield but no clear signs of undervaluation.

About GlaxoSmithKline

GSK is a leading global biopharmaceutical company dedicated to leveraging science and technology to develop advanced therapies. Its oncology portfolio focuses on improving patient outcomes across cancers affecting blood, women’s health, lung, and gastrointestinal systems.

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.

Hamak Gold Limited (LSE:HAMA) has established a new Advisory Board to support its strategic expansion into innovative fields such as data security, decentralized technologies, and digital assets. Dr. Arthur B. Laffer, a distinguished economist known for his influential fiscal policy work and strong advocacy for Bitcoin, has been appointed as the board’s inaugural member. His involvement highlights Hamak Gold’s focus on pioneering economic approaches and enhancing shareholder value.

The company plans to provide ongoing updates regarding additional advisory appointments and will outline its Bitcoin treasury strategy in an upcoming shareholder call scheduled for early September, where it will share insights on its future direction.

About Hamak Gold Limited

Hamak Gold Limited is a UK-listed gold exploration company with operations in Africa. It combines traditional mining activities with a forward-looking BTC/cryptocurrency treasury management approach, offering investors unique exposure to the digital asset space through its listing on the London Stock Exchange’s main 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.

CAP-XX Limited (LSE:CPX) has announced significant progress in its partnership with SCHURTER AG, with the project pipeline approaching an estimated USD 2 million in potential revenue. This collaboration marks a key step for CAP-XX, merging its cutting-edge supercapacitor technology with SCHURTER’s extensive global distribution network. The alliance is opening new market opportunities and boosting scalability across diverse sectors.

The partnership has already secured its first design-win order, signaling early commercial success, and both companies are actively developing plans to convert the promising pipeline into realized sales.

While CAP-XX benefits from stable technical indicators and positive corporate developments, the company continues to face financial challenges and valuation pressures. Although strategic partnerships offer avenues for growth, profitability and financial risks remain key concerns.

About CAP-XX Limited

CAP-XX Limited specializes in designing and manufacturing ultra-thin, flat supercapacitors and energy management systems. These are widely used in portable electronics, as well as larger scale applications such as automotive and renewable energy sectors. Their products are distinguished by high power density and energy storage within compact prismatic formats, serving the needs of power-intensive consumer and industrial devices.

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.

Metals One Plc (LSE:MET1) has acquired an initial 10% interest in NovaCore Exploration Inc., which is developing the Red Basin Uranium Project in New Mexico. The agreement includes an option to increase Metals One’s ownership up to 30%. This acquisition complements Metals One’s ongoing expansion in the U.S. uranium sector, adding a third exploration-stage asset to its portfolio.

Situated in a historically uranium-rich region, the Red Basin Project shows strong potential for sizeable uranium resources, supported by recent geophysical surveys and historic exploration results. This investment highlights Metals One’s strategy to assemble a robust uranium portfolio within jurisdictions that prioritize supply security and low geopolitical risk.

About Metals One PLC

Metals One Plc is a minerals exploration and development company targeting critical and precious metals in stable, low-risk regions. The company’s portfolio includes projects focused on gold, uranium, vanadium, copper, nickel, cobalt, zinc, and platinum group metals across the USA, Finland, and Norway. Metals One is listed on the AIM Market of the London Stock Exchange.

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.

URU Metals Limited (LSE:URU) has commenced a SpectremPlus™ electromagnetic survey across its Zeb Nickel Project in Limpopo Province, South Africa. The objective is to enhance the existing geological framework by detecting conductive zones that could indicate nickel sulphide deposits, thereby refining drill target selection. By integrating this new survey data with previous models, the company aims to prioritize promising drill-ready sites, potentially accelerating nickel discovery and strengthening its exploration prospects.

Despite these positive technical steps, URU Metals continues to face significant financial challenges, including zero revenue and ongoing operational losses. Bearish technical indicators reflect market caution, and these financial difficulties weigh heavily on the company’s overall outlook.

About URU Metals

URU Metals is focused on exploring and developing critical metals projects in South Africa. The company prioritizes sustainable growth through responsible mining practices, adherence to regulations, and active stakeholder engagement.

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.

Senior plc (LSE:SNR) has finalized the sale of its Aerostructures division to Sullivan Street Partners for up to £200 million, reinforcing its strategic emphasis on core operations in fluid conveyance and thermal management. This move is expected to strengthen Senior’s financial position by boosting operating margins, enhancing cash flow, and lowering net debt. Additionally, the transaction will support a £40 million share repurchase initiative, delivering value to shareholders and positioning the company for sustainable growth in resilient sectors.

Senior’s solid financial results and recent strategic developments contribute positively to its overall performance score. While technical indicators show strong upward momentum, some overbought signals suggest cautious optimism. Despite a relatively high valuation, Senior’s secured contracts and leadership changes underpin a favorable growth outlook.

About Senior plc

Senior plc is a global manufacturer specializing in advanced components and systems, primarily focused on fluid conveyance and thermal management (FCTM) solutions. Its diverse operations serve aerospace and defense, land vehicles, power and energy sectors, as well as related markets such as semiconductor manufacturing and medical equipment.

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.