Author: Fiona Craig

Forterra (LSE:FORT) said trading conditions remained challenging during the first four months of 2026, with like-for-like revenue falling 11% as UK brick despatches weakened following a wet start to the year. Despite softer demand, the company said its share of the UK brick market remained stable.

The group introduced modest price increases across its brick products to help offset anticipated cost inflation. However, escalating disruption linked to the Middle East crisis has created additional pressure on operating costs, leading Forterra to adjust production schedules and increasing the expected weighting of earnings toward the second half of the year.

To counter rising diesel, transport and gas expenses, the company has implemented surcharges on concrete products and confirmed further brick price surcharges effective from June. Forterra noted that some of the impact from higher energy prices has been mitigated through forward gas purchasing arrangements.

While customer demand has so far remained resilient, management warned that uncertainty has increased due to wider macroeconomic pressures and elevated borrowing costs. Even so, the board said it remains confident that recent investment in production capacity leaves the business well positioned to benefit when construction activity and housing markets recover.

The company’s overall outlook is supported by signs of improving financial performance, including lower leverage levels and stronger cash generation across 2024 and 2025. However, weak technical indicators continue to weigh on sentiment, with the shares trading below major moving averages and broader momentum trends remaining negative. Valuation metrics appear broadly reasonable, while the dividend offers some support, although not enough to offset the current market downtrend.

More about Forterra

Forterra plc is one of the UK’s largest producers of clay and concrete building materials, supplying bricks and related construction products primarily to domestic housing and infrastructure markets. The company serves major UK housebuilders and construction projects, maintaining a significant position within the British brick manufacturing sector.

Hilton Food Group (LSE:HFG) delivered resilient trading across its core meat and fresh prepared food divisions, supported by strong demand in Australia, New Zealand and Central Europe within its East region. In the West region, volumes edged higher, helped in part by seasonal demand ahead of Easter.

The company said difficult market conditions continue to weigh on its seafood, vegetarian and vegan operations. In response, Hilton Food is pursuing cost-saving initiatives at Seachill, transitioning Foppen exports to the U.S. from air freight to sea freight, and working to improve volumes at its Dalco production site.

Hilton Food also reported continued progress on several strategic commercial and investment projects. These include an extended long-term partnership with Tesco in the UK, a Canadian expansion project that remains on schedule for a full launch in 2027 alongside additional bacon production capabilities, a new Saudi Arabian facility expected to open in the second half of 2026, and plans to expand production capacity in Poland.

Management reiterated its 2026 guidance, forecasting adjusted profit before tax of between £60 million and £65 million, alongside capital expenditure of roughly £100 million. The company said the outlook reflects confidence in both near-term trading and longer-term growth opportunities despite ongoing inflationary and geopolitical pressures.

The group’s outlook continues to be constrained by weaker cash flow visibility and cautious guidance for 2026, which points to pressure on short-term earnings even as profitability remains relatively stable. However, these concerns are partly offset by an attractive valuation, including a low price-to-earnings ratio and strong dividend yield, as well as improving short-term market momentum, although the broader long-term trend remains less supportive.

More about Hilton Food

Hilton Food Group is an international supplier of red meat and fresh prepared foods, working with major retail customers across Europe, Australia and New Zealand. The company has expanded into seafood as well as vegetarian and vegan categories, with a strategy focused on long-term supply agreements and strategic retail partnerships, including its extended collaboration with Tesco in the UK.

As the UK and the wider world push forward with renewable energy, advanced technology, and modern defence capability, one challenge is becoming increasingly difficult to ignore: the rising demand for critical minerals. Often unseen in everyday life, these materials underpin the systems we rely on, from electric vehicles and solar panels to smartphones, aircraft, and essential defence infrastructure.

This trailer provides a first look into the complex and fast-moving world of critical minerals, with a particular focus on tungsten, one of the most strategically important metals globally. Featuring Guardian Metal Resources (LSE:GMET)(AMEX:GMTL)(USOTC:GMTLF)and drawing on expert insight and real-world exploration, it explores how global supply chains, geopolitical pressures, and decades of underinvestment have exposed vulnerabilities that could impact UK industry, energy security, and national resilience.

At the same time, it highlights a new wave of mining innovation, where advanced technology, AI, and modern exploration techniques are transforming how resources are discovered and developed. This is a story that connects geology, innovation, economics, and global competition, and asks a critical question: how will the UK secure the materials it needs in an increasingly uncertain world?

Episode Two will be available on the 26th of May on the following Link – https://invest.investorshub.com/innovationreport/

Funding Round Supports Expanding Exploration Portfolio

Sintana Energy (LSE:SEI) (USOTC:SEUSF) (TSX-V:SEI) has conditionally secured US$11.5 million in fresh funding to help finance a growing exploration pipeline, including activity linked to the Chevron-operated Nabba-1 well offshore Namibia in PEL 90.

The fundraising was completed at 22.5 pence per share on AIM and C$0.41 per share on the TSX Venture Exchange, with approximately 38.0 million new common shares set to be issued.

The AIM issue price reflected a 13.5% discount to the company’s closing mid-market share price of 26 pence on May 14.

Directors Participate in Oversubscribed Raise

The transaction consisted of a US$10.8 million placing covering around 35.6 million shares, alongside a US$0.7 million subscription for approximately 2.37 million shares purchased by directors and eligible investors from Canada and Australia.

Chief executive Robert Bose and company president Eytan Uliel each invested US$250,000 through subscriptions for 826,105 shares apiece.

Proceeds to Fund Drilling and Strategic Acquisitions

Management said the oversubscribed fundraising, together with existing cash reserves and proceeds from the company’s Exxon settlement in Colombia, provides additional flexibility to pursue key exploration and acquisition opportunities.

The proceeds are expected to help finance activity at the Nabba-1 well and support the cash consideration tied to acquisitions involving interests in PEL 37 in Namibia’s Walvis Basin and KON-16 in Angola’s Kwanza Basin.

Gold prices moved in a volatile range on Monday as traders assessed rising global bond yields alongside renewed geopolitical tensions involving Iran.

Precious Metal Gives Up Early Gains

By 07:24 ET (11:24 GMT), spot gold slipped 0.1% to $4,536.03 an ounce, while gold futures fell 0.5% to $4,539.59 an ounce.

Earlier in the trading session, gold had posted modest gains after previously touching its lowest level since March 30.

The metal has weakened compared with levels seen at the beginning of the Iran conflict in late February, as investors shifted toward the U.S. dollar as a preferred safe-haven asset. Market participants believe the U.S. economy may be relatively insulated from the energy shock because of its position as a major oil exporter.

A stronger U.S. dollar typically reduces overseas demand for gold by making it more expensive in other currencies.

Rising Inflation Expectations Hurt Gold Demand

Investors have also become increasingly concerned that the conflict could intensify inflationary pressures globally.

Higher inflation raises the possibility that central banks may keep interest rates elevated or even tighten policy further, reducing the attractiveness of non-interest-bearing assets such as gold.

Drone Incidents Raise New Questions About Ceasefire Stability

Over the weekend, a drone strike caused a fire at a nuclear installation in the United Arab Emirates, while Saudi Arabia reported intercepting three drones.

The incidents increased uncertainty surrounding the fragile ceasefire between the United States and Iran.

President Donald Trump stated on social media that “the clock is ticking” for Iran to reach a peace agreement or potentially face renewed U.S. military action.

China Visit Produces No Immediate Diplomatic Progress

Last week, some investors had hoped Trump’s visit to China could help unlock progress in negotiations with Iran, given Beijing’s role as a major importer of Iranian crude oil.

However, the summit concluded without any immediate breakthrough or commitments from China.

“The weekend […] saw a return of concerns over the ongoing war between the U.S. and Iran,” said David Morrison, Senior market Analyst at Trade Nation, in a note.

“These fell out of focus while the Trump administration was in Beijing. But they bounced back into sight as it became painfully apparent that the Chinese trip was a non-event, while Iran appears in no mood to accede to the U.S. peace plan.”

Copper prices fell sharply on Monday, slipping to their lowest level in seven days as investors reacted to a stronger U.S. currency, disappointing economic figures from China and continued gains in oil prices.

Industrial metals pressured by economic concerns

The benchmark three-month copper contract on the London Metal Exchange dropped 2.75% to $13,555 per metric ton by 08:19 GMT.

The decline reflected growing concerns over global economic conditions, with traders responding to weaker Chinese data and unfavorable currency movements.

China, which is one of the largest consumers of industrial metals worldwide, released softer-than-expected economic figures, fueling concerns about slowing demand and weaker industrial momentum.

Meanwhile, the stronger U.S. dollar reduced the attractiveness of dollar-priced commodities for buyers using other currencies, placing additional pressure on copper prices.

Higher crude oil prices also added to investor caution, as markets worried that rising energy costs could lead to stronger inflationary pressures and slower economic growth globally.

Oil markets moved sharply higher on Monday as prospects for ending the conflict involving Iran appeared increasingly uncertain following a drone strike on a nuclear facility in the United Arab Emirates and reports that President Donald Trump is preparing to examine military responses related to Tehran.

Crude extends recent gains

Brent crude futures climbed $1.65, or 1.51%, to $110.91 per barrel by 07:03 GMT after earlier hitting $112, the highest price recorded since May 5.

U.S. West Texas Intermediate crude traded at $107.42 per barrel, up $2, or 1.9%, after touching an intraday peak of $108.70, its strongest level since April 30. The June contract is scheduled to expire on Tuesday.

Both oil benchmarks rallied more than 7% last week as confidence faded that diplomatic negotiations could end attacks and shipping disruptions near the Strait of Hormuz, a vital route for global energy supplies.

Concerns over wider regional escalation grow

Talks held last week between Trump and Chinese President Xi Jinping concluded without any indication that China would play a role in helping de-escalate the conflict triggered by the joint U.S.-Israeli strikes on Iran.

Additional drone attacks targeting the UAE and Saudi Arabia, together with increasingly aggressive rhetoric from both Washington and Tehran, reinforced fears of a broader regional conflict.

“These drone strikes are a pointed warning – renewed U.S. or Israeli strikes on Iran could trigger more proxy attacks on Gulf energy and critical infrastructure by Iran or its regional proxies,” IG market analyst Tony Sycamore said.

Authorities in the UAE confirmed they are investigating the source of the strike on the Barakah nuclear facility and stressed that the country maintains the right to respond to what it described as “terrorist attacks”.

Saudi Arabia, which intercepted three drones entering from Iraqi airspace, warned it would implement all necessary operational measures to safeguard national sovereignty and security.

U.S. sanctions and military discussions support oil market

Axios reported that Trump is expected to meet with senior national security officials on Tuesday to consider military options involving Iran.

Oil prices also received a boost after the Trump administration allowed a sanctions waiver on Russian seaborne oil exports to expire over the weekend. The waiver had previously enabled countries including India to continue purchases after a temporary one-month extension.

“Fears of renewed strikes on Iran have worsened supply fears … the United States letting the Russia sanctions waiver lapse didn’t help,” said Vandana Hari, founder of oil market consultancy Vanda Insights.