Author: Fiona Craig

Ultimate Products plc (LSE:ULTP) posted a 3.4% decline in unaudited group revenue to £150.1 million for the financial year ended 31 July 2025, as softer consumer demand weighed on sales. However, revenue from UP-owned brands rose by 4.3%, underscoring their role in delivering sustainable long-term value.

The company’s adjusted EBITDA fell 31%, largely due to higher freight expenses, while net bank debt increased to £14.1 million. In a potential bid to broaden its investor base, the board is evaluating a move from the London Stock Exchange’s Main Market to AIM. CEO Andrew Gossage voiced confidence in the firm’s ongoing strategic investments and operational upgrades, which aim to strengthen market positioning and drive durable growth.

While Ultimate Products maintains a strong valuation and solid financial footing, technical trends indicate bearish short-term sentiment. Nonetheless, initiatives such as share buybacks highlight the group’s long-term investment appeal.

About Ultimate Products plc

Ultimate Products plc is a leading name in the homeware sector, with a portfolio of well-known brands including Salter and Beldray. The company operates across five key product categories: Small Domestic Appliances, Housewares, Laundry, Audio, and Heating & Cooling. Serving more than 300 retailers in 38 countries, its customer base spans discount chains, supermarkets, and e-commerce platforms. Founded in 1997 and headquartered in Oldham, Greater Manchester, the company employs over 370 staff, with additional offices in Guangzhou, China, and Paris, France.

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.

Glanbia (LSE:GLB) posted a solid performance in the first half of 2025, recording a 6% year-on-year revenue increase to $1.93 billion, fueled by strong gains in both Health & Nutrition and Dairy Nutrition divisions. While EBITDA and adjusted EPS experienced a decline, the company lifted its full-year guidance, citing stronger revenue momentum and improving margins.

Key strategic actions during the period included acquiring Brazilian-based Sweetmix and divesting Body & Fit. Glanbia also announced a 10% rise in its interim dividend and continued share buybacks, underscoring its disciplined capital allocation and commitment to shareholder value.

About Glanbia plc

Glanbia plc is a global leader in nutrition, serving the Health & Nutrition and Dairy Nutrition markets. The company specializes in delivering innovative nutritional solutions and products, catering to the growing demand from health-conscious consumers and the performance nutrition sector.

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.

Nativo Resources Plc (LSE:NTVO) has completed the purchase of the remaining 50% stake in its Peruvian joint venture, Boku Resources SAC, taking full ownership of the company. The move is aimed at consolidating operations and sharpening the company’s focus on gold production in Peru, with particular attention to the Bonanza and Morrocota mines.

In preparation for restarting production, Nativo will collaborate with Inveritas Global Holdings Ingenieria S.A. to conduct field surveys and sampling programs. The acquisition is expected to improve operational efficiency and reinforce Nativo’s competitive standing within Peru’s gold mining industry.

About Nativo Resources Plc

Nativo Resources Plc is dedicated to gold exploration, mining, and processing in Peru. Its portfolio includes multiple acquired and optioned projects, with an emphasis on developing the Tesoro Gold Concession, which hosts the Bonanza and Morrocota mines. The company’s activities cover primary gold extraction, gold ore processing, and recovery from tailings. In addition to expanding its mining operations, Nativo allocates part of its free cash flow and future capital raises to acquiring Bitcoin, which it holds as a long-term treasury reserve asset.

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 posted another mixed performance on Tuesday after Washington extended its suspension of higher tariffs on Chinese goods until November 10, temporarily easing trade tensions between the world’s two largest economies.

By midday, Germany’s DAX was down 0.4%, the U.K.’s FTSE 100 was hovering just above flat, and France’s CAC 40 was up 0.3%.

The British pound strengthened against both the euro and the dollar following U.K. labor market data, which showed payrolls falling for a sixth straight month and vacancies declining further, while wage growth remained strong. Separate figures revealed U.K. retail sales rose 2.5% year-over-year in July.

In corporate news, Cancom SE (TG:COK) slipped 2.6% in Frankfurt after the German IT services provider swung to a second-quarter loss from a profit a year earlier.

In Paris, Valneva (EU:VLA) jumped 8.2% after the specialty vaccine maker reported a 37.8% revenue increase for the first half of the year.

Hannover Re (TG:A30VQR) fell 1.3% despite posting higher net income and reinsurance revenue in the first half.

Swiss generics and biosimilar group Sandoz (LSE:0SAN) gained over 1% after partnering with Elawan Energy to develop 150MW of solar projects in Spain.

Shares of Spirax Group (LSE:SPX) surged 13% after the U.K.-based industrial thermal energy and fluid technology company delivered better-than-expected first-half 2025 earnings.

Derwent London (LSE:DLN) dropped 4.2% after announcing the retirement of Executive Director Nigel George.

Recruitment firm Page Group (LSE:PAGE) lost 1.3% after reporting a 99% plunge in first-half pre-tax profit amid ongoing macroeconomic challenges and tariff-related uncertainty.

Entain (LSE:ENT), the owner of Ladbrokes, fell nearly 3% despite strong first-half results and raising its full-year guidance.

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 index futures pointed sharply higher on Tuesday, suggesting a strong start to the trading day as investors reacted to fresh inflation figures from the Labor Department. The upbeat move follows Monday’s session, where markets drifted without clear direction before closing moderately lower.

The latest CPI data showed consumer prices rising 0.2% in July, following a 0.3% gain in June, perfectly matching market forecasts. On an annual basis, inflation held steady at 2.7%, defying expectations for a slight uptick to 2.8%.

Core CPI, which strips out food and energy, advanced 0.3% for the month after a 0.2% increase in June, also in line with projections. Year-over-year, core inflation accelerated to 3.1% from 2.9%, a bit hotter than the 3.0% economists had anticipated.

Despite the stronger annual core reading, traders appeared to view the report as reinforcing the case for the Federal Reserve to begin easing policy. The CME FedWatch Tool now shows a 90.1% probability of a quarter-point rate cut in September.

On Monday, markets showed little conviction after last week’s rally, with the Dow Jones Industrial Average dropping 200.52 points, or 0.5%, to 43,975.09. The Nasdaq Composite fell 64.62 points, or 0.3%, to 21,385.40, while the S&P 500 slipped 16.00 points, or 0.3%, to 6,373.45.

Traders’ caution came ahead of a busy week for economic releases, including data on producer prices, retail sales, and industrial production, which could further shape expectations for monetary policy.

Sector performance was largely muted on Monday, although oil services stocks tumbled sharply, with the Philadelphia Oil Service Index down 2.1% despite higher crude prices. Shares of oil producers and transporters also fell, weighing on the broader 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.

British equities remained mostly flat on Tuesday, while the British pound gained ground, boosted by a mixed set of corporate earnings that kept investors cautious.

By 11:53 GMT, the FTSE 100 edged up a marginal 0.04%, while the pound climbed over 1% against the US dollar, crossing the 1.34 mark. In contrast, Germany’s DAX index slipped 0.5%, and France’s CAC 40 inched up 0.1%.

PageGroup Shares Slide Amid Sharp Profit Drop

Shares of recruitment firm PageGroup (LSE:PAGE) declined 3.7% after it revealed a steep fall in first-half pre-tax profit to just £0.2 million, down sharply from £27.7 million in the same period last year. The company cited sluggish hiring demand and restructuring costs as key factors weighing on results through June 30.

Revenue dropped to £798.4 million from £898.0 million, while gross profit slid to £389.7 million from £444.1 million. Operating profit plunged to £2.1 million from £28.4 million, with basic and diluted earnings per share falling to zero from 5.3 pence in H1 2024.

Entain Raises Profit Forecast on Online Growth Surge

Meanwhile, Entain (LSE:ENT) boosted its full-year profit outlook following an 11% rise in underlying EBITDA to £583 million for the first half, driven by robust online operations and a 35% revenue jump at its U.S. partner BetMGM.

Bellway Reports Net Cash Position and Strong Housing Revenue Growth

Housebuilder Bellway (LSE:BWY) reversed last year’s net debt of £10.5 million to finish fiscal 2025 with £42 million in net cash. The company completed 8,749 homes over the year ending July 31, a 14.3% increase, with housing revenue rising 17% to over £2.76 billion.

Spirax Group Shares Rally on Better-Than-Expected Earnings

Spirax Group (LSE:SPX) shares surged more than 15% after reporting first-half earnings that topped forecasts by 5%. The industrial energy and fluid technology firm posted EBIT of £159 million, surpassing analysts’ estimates of £151 million.

Genuit Group Shares Fall Despite Strong Sales

Genuit Group (LSE:GENG) shares dropped over 7% after the company maintained its full-year earnings forecast despite higher H1 sales, citing ongoing cost pressures and limited market expansion as headwinds.

Derwent London Dips on Flat Earnings and Higher Vacancy

Derwent London (LSE:DLN) shares fell more than 5% following flat earnings in the first half of 2025. Despite reaffirming rental growth targets, the firm faced higher vacancy rates and missed some analyst expectations.

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.

Crude prices dipped on Tuesday as markets weighed an extension of the U.S.-China tariff truce, with attention also turning to the release of key U.S. inflation figures and high-level peace discussions between Washington and Moscow later this week.

By 07:35 ET (11:35 GMT), October Brent futures slipped 0.4% to $66.34 a barrel, while West Texas Intermediate (WTI) crude for September delivery dropped 0.6% to $63.61 a barrel.

Tariff Truce Extension Lifts Early Optimism

Prices initially found support after Washington and Beijing agreed to prolong their current tariff freeze—originally due to expire today—by another 90 days. The temporary arrangement, first struck in May, had kept tariff rates well below the triple-digit levels seen earlier in the year.

The extension was seen as a positive sign for global trade relations, with both governments signaling optimism about reaching a longer-term agreement. Still, the recent implementation of President Trump’s tariffs last week remained a key source of uncertainty for energy traders, who continue to assess whether the levies could dampen global growth and curb oil demand.

Caution Ahead of U.S. CPI Report

Early gains faded as investors braced for U.S. consumer price index data later in the session—numbers that could influence the Federal Reserve’s next interest rate move. While recent weakness in the labor market has bolstered expectations for a September rate cut, persistent inflation has kept some Fed policymakers hesitant, particularly amid the unclear inflationary effects of ongoing trade policies.

Lower interest rates often stimulate economic activity, potentially increasing energy consumption, but any sign of stubborn price pressures could temper those expectations.

Peace Talks Between Washington and Moscow in the Spotlight

Markets are also watching Friday’s planned meeting in Alaska between President Donald Trump and Russian President Vladimir Putin, where efforts to broker a resolution to the Ukraine conflict will be discussed.

The talks come after Trump threatened stricter measures against Russia’s oil sector, including steep tariffs on major buyers such as India and China. Proposed duties could reach as high as 50% for Indian crude imports, with China facing similar penalties. Analysts warn such moves could prompt both countries to seek alternative suppliers, potentially reshaping global oil flows.

Ukraine, however, has already indicated it will reject any peace deal involving territorial concessions to Russia. Even so, a breakthrough in negotiations could see Russian oil exports rise, adding to global supply and influencing prices in the months 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.

European equity markets advanced Tuesday following news that the United States and China agreed to prolong their tariff truce, easing trade tensions and lifting investor confidence ahead of crucial U.S. inflation figures.

By 07:10 GMT, Germany’s DAX rose 0.3%, France’s CAC 40 gained 0.5%, and the UK’s FTSE 100 added 0.4%.

Tariff pause fuels positive market mood

Investors worldwide welcomed the extension of the tariff ceasefire between the two largest economies, announced late Monday. This deal delays the imposition of additional tariffs for another 90 days, helping maintain more moderate duties and preventing potential disruptions to global trade.

Under the agreement, existing U.S. tariffs on Chinese imports will remain between 30% and 50%, while China’s tariffs on American goods will stay in the 10% to 20% range. This follows their May accord to reduce tariffs from levels exceeding 100%. The truce also sustains recent U.S. chip export relaxations and China’s rare earth trade resumption.

Focus shifts to U.S. inflation report

European investors are also awaiting Germany’s ZEW economic sentiment index for August, expected later Tuesday, as a barometer of confidence in Europe’s largest economy.

Earlier, UK data revealed unemployment steady at 4.7% for the quarter ending June—the highest since mid-2021—while average wage growth excluding bonuses held at 5.0% year-on-year.

However, the market’s main focus remains on the upcoming U.S. consumer price index (CPI) for July. This report is seen as critical in gauging the inflationary impact of ongoing tariff policies and how the Federal Reserve might adjust interest rates in response.

Economists forecast the annual CPI inflation rate to tick up slightly to 2.8% from 2.7% in June, continuing to outpace the Fed’s 2% target.

Corporate earnings highlights

Although earnings season is winding down, some companies posted notable results. Hannover Re (TG:A30VQR) reported a strong 38% year-over-year rise in second-quarter net income, buoyed by better underwriting results in property and casualty reinsurance as well as improved reinsurance service income.

UK homebuilder Bellway (LSE:BWY) shifted from a net debt position of £10.5 million last year to a net cash balance of £42 million by the end of fiscal 2025, thanks to higher-than-expected housing completions and revenues.

Meanwhile, gambling firm Entain (LSE:ENT) raised its full-year profit outlook after reporting solid first-half gains driven by robust online growth and a 35% revenue increase from its U.S. joint venture, BetMGM.

Oil edges up amid tariff ceasefire and geopolitical talks

Crude oil prices edged higher Tuesday as the tariff truce eased worries about a slowdown in the world’s two biggest oil-consuming nations. At 03:10 ET, Brent crude futures were up 0.3% at $66.81 per barrel, and West Texas Intermediate crude climbed 0.4% to $64.20 per barrel.

Adding to market uncertainty, U.S. President Donald Trump and Russian President Vladimir Putin are scheduled to meet in Alaska on Friday to discuss prospects for ending the conflict in Ukraine.

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 showed mixed signals Tuesday as traders prepared for the release of critical inflation data that could clarify the Federal Reserve’s upcoming interest rate plans. Meanwhile, President Donald Trump has nominated the Heritage Foundation’s chief economist to lead the U.S. Bureau of Labor Statistics (BLS), days after the previous commissioner was removed following a disappointing jobs report. In other news, billionaire Elon Musk accused Apple (NASDAQ:AAPL) of favoring OpenAI’s ChatGPT over his AI startup xAI on the App Store.

Futures in flux

Ahead of the inflation figures, U.S. futures fluctuated near unchanged levels. By 2:58 a.m. ET, Dow futures were up 75 points (0.2%), S&P 500 futures slipped 7 points (0.1%), and Nasdaq 100 futures declined 38 points (0.2%).

On Wall Street’s prior session, key indices edged lower amid investor concerns about a reported agreement between semiconductor giants Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) to give the U.S. government a 15% cut on AI chip sales to China. Shares of both companies closed slightly down — Nvidia by 0.35% and AMD by 0.28% — as the levy raised fears it could squeeze profit margins and set a precedent for taxing vital tech exports.

Market participants appeared indifferent to Trump’s announcement of a 90-day extension to the U.S.-China trade truce, described by Vital Knowledge analysts as “widely expected.” The existing agreement was set to expire Tuesday.

Inflation data in focus

All eyes are on Tuesday’s consumer price index (CPI) release. Inflation is forecast to rise modestly to 2.8% year-over-year for July, with a slight 0.2% increase month-over-month. Core CPI, which excludes volatile food and energy prices, is predicted to accelerate to 3.0% annually and 0.3% monthly.

These numbers could influence the Federal Reserve’s rate decision next month. After a weak July jobs report and significant downward revisions for May and June, the market increasingly anticipates a 25 basis point rate cut in September. If inflation prints as expected or lower, it would likely strengthen that view.

Yet, stronger-than-expected inflation could give policymakers pause, especially given the Fed’s recent caution amid concerns that Trump’s aggressive tariffs might push prices higher. Trump has criticized the Fed for its “wait-and-see” approach, calling for faster and deeper cuts, a stance that saw some dissent at July’s policy meeting.

New BLS chief nominee

Alongside inflation, questions about government data integrity have resurfaced after Trump fired Labor Department Bureau of Labor Statistics commissioner Erika McEntarfer, accusing her without evidence of manipulating numbers for political reasons following the weak jobs report.

On Monday, Trump announced he nominated economist E.J. Antoni to replace McEntarfer, pending Senate confirmation. Antoni holds a doctorate in economics and has previously criticized the BLS, the agency responsible for producing vital economic data closely watched by investors and policymakers.

Trump wrote on his social media platform that “E.J. will ensure that the Numbers released are HONEST and ACCURATE.”

However, some analysts cited by Reuters have expressed caution regarding Antoni’s nomination, noting it could increase demand for private-sector economic data alternatives.

Musk threatens Apple with lawsuit

Elon Musk accused Apple’s App Store of anti-competitive conduct, warning that his AI startup xAI plans to take “immediate legal action” over what he claims is preferential treatment of OpenAI’s ChatGPT.

In posts on his social media site X late Monday, Musk stated that Apple’s policies “make it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation.”

He questioned why X and xAI’s chatbot app Grok were missing from Apple’s “Must Have” app list despite being, by his claim, the top news app worldwide and the fifth overall.

“Are you playing politics? What gives?” Musk asked, also alleging ChatGPT “appears in every list where (Apple has) editorial control.”

OpenAI CEO Sam Altman responded on X, saying, “This is a remarkable claim given what I have heard alleged that Elon does to manipulate X to benefit himself and his own companies and harm his competitors and people he doesn’t like.”

RBA cuts rates

The Reserve Bank of Australia (RBA) cut its benchmark interest rate by 25 basis points to 3.60%, as widely expected, signaling it may ease policy further to combat slowing inflation.

This marks the RBA’s third rate cut this year after initiating its easing cycle in the first quarter. The bank also lowered its forecast for 2025 economic growth to below 2%, citing cooling inflation as a reason to consider additional rate reductions.

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.

The U.S. dollar slipped modestly on Tuesday as markets awaited the release of July’s consumer inflation data, a report expected to influence Federal Reserve interest rate decisions in the near term.

By 04:15 ET (08:15 GMT), the Dollar Index, which measures the greenback’s strength against six major currencies, fell 0.1% to 98.317, after gaining 0.5% over the previous two sessions.

All eyes were on the U.S. consumer price index (CPI) figures due later in the day, as traders looked for guidance on the future path of interest rates in the world’s largest economy.

A moderate inflation reading could reinforce bets on a Fed rate cut next month. However, if evidence shows that tariffs imposed by U.S. President Donald Trump are fueling inflation, the central bank might hold off on easing.

The headline CPI is predicted to edge up to 2.8% from June’s 2.7%, staying above the Fed’s 2% target.

“Despite some positioning rebalancing ahead of the release, a hotter-than-expected print should still support the dollar, as markets may revise down expectations for a September Fed cut to below 20bp,” ING analysts wrote in a note.

They added, “However, we think labor market data is more influential than inflation, given the consensus view that tariff-induced price shocks are transitory and last month’s large payroll revisions.”

In Europe, the euro inched higher against the dollar, with EUR/USD reaching 1.1618 ahead of Germany’s ZEW economic sentiment survey for August, which is expected to provide insight into Europe’s largest economy.

The single currency’s direction will also hinge on news ahead of Friday’s summit between the Russian and U.S. presidents, where a potential truce in Ukraine is on the agenda.

“We expect today’s U.S. CPI to bring EUR/USD back below 1.16 with risks skewed to a test of the 1.150 support if the Putin-Trump summit yields few results on Friday,” ING commented.

The British pound gained slightly, with GBP/USD up 0.1% to 1.3451 after data revealed that the U.K.’s unemployment rate held steady at 4.7% in the three months ending in June — the highest since July 2021. Meanwhile, pay growth across the economy, excluding bonuses, remained at an annual 5.0%.

“While the labor market is cooler than earlier this year and softer than in other major economies, there’s no clear signal yet for the Bank of England to accelerate rate cuts,” ING noted.

Turning to the yuan, USD/CNY edged up slightly to 7.1897, with limited movement following the announcement that China and the U.S. agreed to extend their trade truce for another 90 days before imposing further tariffs.

This extension eased fears of renewed tensions in the long-running U.S.-China trade dispute, keeping tariffs at substantially reduced levels.

The development also boosted hopes for a more lasting trade agreement between the world’s two largest economies.

Elsewhere, USD/JPY rose 0.1% to 148.33, while AUD/USD dipped 0.2% to 0.6503 after the Reserve Bank of Australia cut its benchmark interest rate by 25 basis points to 3.60%, matching market expectations.

This marks the central bank’s third rate reduction this year, continuing the easing cycle that began in the first quarter.

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.