Author: Fiona Craig

Cambridge Cognition Holdings (LSE:COG) has unveiled a proprietary speaker recognition technology designed to prevent duplicate enrolment of participants in clinical trials—a major challenge that can compromise data quality and undermine study validity. The innovation forms part of the company’s AI-driven, voice-enabled data quality management suite. It has already secured early commercial agreements and is scheduled for rollout with a leading pharmaceutical partner in Q4 2025, underscoring Cambridge Cognition’s focus on improving the reliability and efficiency of clinical research.

While the company is making strategic strides, its overall outlook is tempered by ongoing financial headwinds, including falling revenues and persistent losses. Weak technical signals and unfavourable valuation metrics further weigh on performance expectations. Nevertheless, progress on strategic initiatives and successful clinical collaborations provide a degree of support, partially offsetting the financial and technical challenges.

About Cambridge Cognition Holdings

Cambridge Cognition is a specialist in brain health software, delivering digital health solutions to advance research, diagnosis, and treatment in cognitive science. Its work spans pharmaceutical clinical trials, academic research into central nervous system disorders, healthcare-based cognitive assessments, and consumer-focused brain health and wellness tools.

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.

Atalaya Mining (LSE:ATYM) has delivered its strongest-ever quarterly and half-year results for Q2 and H1 2025, reporting sharp gains in EBITDA and net cash. These improvements stem from higher copper grades and greater operational efficiency. The miner has upgraded its production and cost guidance, announced an interim dividend, and is progressing with strategic growth initiatives aimed at reinforcing its competitive position and generating long-term value for stakeholders.

The company’s high overall score is primarily underpinned by robust technical metrics and favorable corporate developments. Its strong financial showing further supports this view, although fluctuations in revenue and ongoing capital investments remain potential headwinds. While the current valuation is considered reasonable, its impact on the outlook is positive but more limited.

About Atalaya Mining

Atalaya Mining is a copper-focused producer with key operations in Spain. The company is advancing several development projects, including San Dionisio, Masa Valverde, and Touro, with the aim of expanding copper output and improving cost efficiency.

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.

Tesla (NASDAQ:TSLA), led by Elon Musk, has formally applied to the UK’s energy regulator, Ofgem, for a license to become an electricity supplier across Britain. The application, submitted at the end of last month, was authorized by Andrew Payne, who oversees Tesla’s energy business in Europe.

If granted, this license would position Tesla to challenge established energy providers like British Gas, Octopus Energy, and E.ON by supplying electricity to residential and commercial customers throughout England, Scotland, and Wales. The regulatory review could take up to nine months before a decision is made.

Tesla plans to launch this venture under the “Tesla Electric” brand, which has been operating in Texas since 2022. There, the service provides affordable electric vehicle charging and compensates customers who feed surplus energy back into the grid.

The company aims to bundle its electricity services with its existing product lineup in the UK — including electric cars and home battery storage — to help consumers lower their electricity costs while enhancing energy efficiency. Tesla’s UK footprint already includes over 250,000 vehicles sold and thousands of energy storage units installed.

Meanwhile, Tesla’s vehicle sales across Europe are on a downward trend. In July, UK sales dropped nearly 60%, with only 987 units sold compared to 2,462 during the same month last year. Germany saw a 55% decline with 1,110 cars sold.

Across Europe’s top ten markets, Tesla’s sales shrank by 45% last month. The company is facing intense competition from Chinese automakers such as BYD, as well as some reputational challenges tied to Elon Musk’s political views and his association with former U.S. President Donald Trump.

Nonetheless, Tesla is leveraging its strong brand presence and loyal customer base in the UK to break into the energy sector. If successful in securing the license, Tesla could begin operations as soon as next year.

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.

Oil prices climbed on Monday, bouncing back somewhat following last week’s notable declines, as markets awaited upcoming discussions between the U.S. and Russia over the ongoing conflict in Ukraine.

As of 08:50 ET (12:50 GMT), October Brent crude futures increased by 0.5%, reaching $66.90 per barrel. Meanwhile, West Texas Intermediate (WTI) crude futures rose 0.4% to $64.13 per barrel. Both benchmarks had fallen more than 4% over the previous week.

U.S.-Russia Talks in the Spotlight

A summit between U.S. President Donald Trump and Russian President Vladimir Putin is scheduled for August 15 to explore potential solutions to end the war in Ukraine. This meeting comes amid escalating U.S. sanctions aimed at curbing Russia’s oil exports, particularly targeting major purchasers China and India.

Trump has imposed tariffs up to 50% on Indian imports to discourage its purchase of Russian oil and has threatened similar measures against China.

“With Russia demanding that Ukraine cede occupied territory to end the war, it’s difficult to see a quick solution,” analysts at ING noted in a recent report. “It’s unlikely that Ukraine will agree to give up its own territory. If we do see some level of de-escalation, it would remove sanction risk from the oil market. This would likely drive prices lower, given the bearish fundamentals.”

Despite these tariff threats, oil prices last week received only limited support, as broader reciprocal tariffs imposed by the U.S. on its key trade partners raised concerns about possible demand setbacks.

China Inflation Disappoints, Awaiting U.S. CPI

July’s consumer price index (CPI) in China remained flat, while the producer price index (PPI) contracted more than expected, pointing to a persistent deflationary trend in the world’s largest oil importer.

These figures followed a series of underwhelming economic data from China, signaling tepid effects from Beijing’s stimulus efforts and easing trade tensions with the U.S. Severe weather conditions in July also appeared to hamper Chinese economic activity.

All eyes this week are on the U.S. CPI report for July, due Tuesday. Market watchers will analyze the data closely for signs of easing inflation, which could increase expectations of a Federal Reserve interest rate cut in September.

Speculators Scale Back Brent Net Long Positions

Recent data shows traders turning bearish on oil despite ongoing sanction and tariff risks. Speculators decreased their net long position in ICE Brent by 20,375 contracts during the last reporting period, leaving 240,977 contracts as of the previous Tuesday. This was mainly due to liquidation of long positions.

Meanwhile, the U.S. oil rig count increased for the first time since April, rising by one to 411 active rigs last week, according to Baker Hughes (NASDAQ:BKR).

“Rig activity has declined significantly in recent months amid price weakness and the bearish market outlook. However, more recent price stability helped to slow the decline in the rig count,” ING commented.

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 equities opened Monday with a split performance as investors await this week’s high-stakes Russia-U.S. summit, which some hope could pave the way toward ending the conflict in Ukraine.

The U.K.’s FTSE 100 managed a modest gain of 0.3%, while Germany’s DAX slipped 0.1%, and France’s CAC 40 edged down 0.2%.

Shares of German steel producer Salzgitter (TG:SZG) fell following a wider loss reported for Q2 and a lowered forecast for the full year.

Defense sector stocks also faced pressure after U.S. President Donald Trump hinted at a possible territorial exchange deal between Russia and Ukraine to resolve the war that has lasted over three years.

Building materials firm Marshalls (LSE:MSLH) declined after releasing half-year figures that showed a significant drop in profits.

In contrast, London-listed homebuilder Vistry Group (LSE:VTY) gained ground after confirming the continuation of its £130 million share repurchase program.

Pharmaceutical company GSK (LSE:GSK) also saw its stock rise after the U.S. FDA accepted its priority review application for gepotidacin, an oral antibiotic aimed at treating uncomplicated gonorrhea.

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 are signaling a mostly flat start to Monday’s trading session, with markets expected to show limited movement after posting solid gains last week.

With no major economic releases scheduled for today, investors are likely to stay cautious, awaiting several important data points set to drop in the coming days.

All eyes will be on Tuesday’s consumer price index (CPI) report from the Labor Department, which could heavily influence expectations for future interest rate changes.

Economists forecast a modest 0.2% rise in consumer prices for July, down slightly from June’s 0.3% increase. Year-over-year inflation is anticipated to edge up to 2.8% from 2.7%.

Core inflation, which excludes volatile food and energy costs, is projected to grow 0.3% in July, up from 0.2% in June, pushing the annual figure slightly higher to 3.0% from 2.9%.

Ahead of these figures, CME Group’s FedWatch tool shows an 86.4% probability that the Federal Reserve will cut interest rates by 25 basis points next month.

Additional reports on producer prices, retail sales, and industrial output are also expected to attract investor focus later this week.

After a mixed Thursday, stocks mostly rallied on Friday, with the tech-heavy Nasdaq closing at a fresh record high.

The Nasdaq added 207 points (1.0%) to finish at 21,450, while the S&P 500 gained 49 points (0.8%) to close at 6,389. The Dow Jones rose 207 points (0.5%) to end at 44,176.

For the week, the Nasdaq surged 3.9%, the S&P 500 climbed 2.4%, and the Dow advanced 1.4%.

Markets shrugged off worries about the economic fallout from President Donald Trump’s new tariffs on several U.S. trading partners, which took effect at midnight.

Apple (NASDAQ:AAPL) was a standout, rallying 4.2% to hit its highest close in five months after unveiling plans to invest roughly $600 billion in the U.S. over the next four years.

The NYSE Arca Computer Hardware Index also saw gains, climbing 1.4%, while banking stocks rose alongside the KBW Bank Index, which gained 1.2%.

Oil services, brokerage firms, and networking stocks showed strength, but commercial real estate shares moved lower.

Among notable movers, LegalZoom.com (NASDAQ:LZ) soared 31% after Bank of America upgraded its rating from Underperform to Buy.

Travel site TripAdvisor (NASDAQ:TRIP) jumped 11.7% following an earnings beat in the second quarter.

Conversely, Trade Desk (NASDAQ:TTD) shares plunged 38.6% after multiple Wall Street firms downgraded the stock despite strong earnings.

Salad chain Sweetgreen (NYSE:SG) dropped 23.1% after reporting disappointing Q2 results and lowering its full-year revenue forecast.

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 markets closed the week on a strong note Friday, buoyed by robust gains in technology shares.

The Nasdaq Composite climbed 0.98% to reach a fresh record high of 21,450.02, having hit an intraday peak earlier. Meanwhile, the S&P 500 added 0.78% to close at 6,389.45—just shy of its all-time closing high—and the Dow Jones Industrial Average rose 0.47%, or 207 points, finishing at 44,175.61.

All three major indexes posted weekly gains: the Dow rose approximately 1.4%, the S&P 500 advanced 2.4%, and the Nasdaq led with a 3.9% jump.

Apple (NASDAQ:AAPL) was a standout contributor to the tech rally, helping to lift both the Nasdaq and the technology sector within the S&P 500. Shares surged 13% over the week, marking the biggest weekly gain since July 2020, following the company’s announcement of a $600 billion investment in the U.S. over four years aimed at strengthening ties with the Trump administration.

Looking ahead, the market now turns its attention to July’s consumer price index (CPI) report due Tuesday, which is expected to show a 2.8% year-over-year increase, according to Reuters polling.

A higher-than-expected inflation reading could temper expectations for interest rate cuts, which have been priced in heavily after softer jobs data. Futures markets currently reflect over a 90% chance of a rate cut at the Federal Reserve’s September meeting, with at least two cuts anticipated this year, based on LSEG data.

Seasonal trends add another layer of caution, as August and September have historically been the weakest months for the S&P 500 over the past 35 years, with average declines of 0.6% and 0.8%, respectively.

Investors will also watch for any signs that President Trump’s tariffs are impacting consumer prices, as June data hinted at inflationary pressures in certain goods.

“While the weak July payroll report materially raised the probability of a September cut in the bond market’s eyes, we may need to see a softer CPI print this week to maintain such a high probability of a cut for September,” said Morgan Stanley strategist Michael Wilson.

Wilson added that a below-consensus CPI could spark a durable shift toward small-cap and lower-quality stocks that many investors have been anticipating. Conversely, a hotter CPI reading with tariff pressures appearing in core goods might lead to initial market leadership by more defensive, higher-quality sectors.

Other important economic data due this week includes Wednesday’s producer price index (PPI), followed by retail sales and the University of Michigan consumer sentiment index on Friday.

Q2 Earnings Wrap-Up

As the second-quarter earnings season winds down, results have generally been strong with a solid rate of beats and upward forecast revisions. Clearer sector trends are now emerging.

RBC Capital Markets noted that while many companies surpassing earnings expectations have not seen immediate stock price gains, three Russell 1000 sectors—Energy, Health Care, and Utilities—have bucked this trend with stronger price reactions following positive results.

Most S&P 500 sectors have seen upward revisions to earnings per share and revenue estimates, with Technology leading on both fronts, followed by Communication Services and Financials. Technology is also the only sector showing recent upward revisions to consensus operating margin forecasts for both Q2 and Q3, according to RBC, while overall market margin expectations have softened.

This week’s earnings calendar includes notable reports from AMC Entertainment (NYSE:AMC), Cisco Systems (NASDAQ:CSCO), JD.com (NASDAQ:JD), and Applied Materials (NASDAQ:AMAT), among others.

Analyst Views on U.S. Stocks

• JPMorgan: “Given the more mixed labor market data, expectations for Fed cuts have been brought forward. Markets now price a 90% chance of a rate cut in September, signaling a return to easing after a nine-month pause. The key question is how these cuts will affect the indices and sector leadership, especially after the significant rebound in cyclical sectors in both the U.S. and Europe.”
• Morgan Stanley: “We remain bullish over a 6-12 month horizon supported by improving earnings and cash flow. Our favored sectors include Industrials and Financials, and we prefer U.S. equities over international ones. Consumer discretionary remains underweight due to tariff concerns and weaker pricing power.”
• Yardeni Research: “Despite weaker economic data recently, the S&P 500 has kept rising. Possible reasons include investor confidence in a Fed easing in September (though we’re skeptical), receding recession fears, a rebound in productivity in Q2, and the ongoing economic boost from the Digital Revolution.”

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.

Allianz Technology Trust (LSE:ATT) announced on Monday a profit attributable to ordinary shareholders of £44.9 million for the six months ending June 30, 2025, boosted by £48.8 million in fair value investment gains.

During this period, the trust’s net asset value (NAV) total return reached 2.9%, outperforming the Dow Jones World Technology Index (sterling-adjusted, total return), which declined by 0.2%. The share price rose by 1.2%, although the discount to NAV widened to 10.1%, up from 8.4% at the close of 2024. NAV per ordinary share grew to 471.8p from 458.6p, and shareholders’ equity increased slightly to £1,765 million from £1,746.9 million.

Strong performance was driven by gains in entertainment technology, semiconductor stocks, and selected software and IT services. Notably, underweight positions in Apple (NASDAQ:AAPL) and stakes in Cloudflare (NYSE:NET), Spotify Technology (NYSE:SPOT), Robinhood Markets (NASDAQ:HOOD), and CrowdStrike Holdings (NASDAQ:CRWD) outperformed the benchmark.

Conversely, the trust’s largest drag came from underweight holdings in Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA), alongside positions in Atlassian (NASDAQ:TEAM), Klaviyo (NYSE:KVYO), and Alibaba (NYSE:BABA).

Technology hardware stocks declined nearly 20% amid macroeconomic concerns and tariff-related pressures, while semiconductor shares gained ground on growing demand driven by artificial intelligence.

Companies with market caps between $250 billion and $1 trillion, and those from $10 billion to $250 billion, recorded a 6.4% rise, whereas super-megacaps exceeding $1 trillion fell by 4%.

To manage the discount, the trust bought back 6,873,738 shares during the half-year period at an average discount to NAV and subsequently canceled them. No performance fee was recorded.

Top holdings as of June 30 included Nvidia, Microsoft, Broadcom (NASDAQ:AVGO), Apple, Meta Platforms (NASDAQ:META), Taiwan Semiconductor, Alphabet (NASDAQ:GOOGL), Advanced Micro Devices (NASDAQ:AMD), CyberArk Software (NASDAQ:CYBR), and Snowflake (NYSE:SNOW).

Market volatility was influenced by geopolitical tensions, including U.S. protectionist policies introduced by President Donald Trump and conflicts involving Israel and Iran. Central banks took differing approaches to interest rates, with the Federal Reserve holding rates steady, several major banks cutting rates, and the Bank of Japan opting to raise rates.

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 defense shares declined in early Monday trading as investors assessed the prospects of a potential peace agreement between Ukraine, the U.S., and Russia ahead of the scheduled meeting between President Donald Trump and Russian President Vladimir Putin later this week.

Stocks of companies such as Renk (TG:R3NK) and Hensoldt (BIT:1HENS) each fell over 2%, alongside Germany’s Rheinmetall (BIT:1RHM) and Italy’s Leonardo (BIT:LDO).

With the summit set for Friday in Alaska, Trump hinted that a resolution to the ongoing conflict in Ukraine might involve territorial exchanges between the involved parties. He announced the upcoming talks last Friday, coinciding with a self-imposed deadline for Russia to agree to a ceasefire or face additional sanctions from Washington.

Concerns have emerged over the absence of Ukrainian President Volodymyr Zelenskiy from the talks, raising questions about whether Ukraine might be pressured into accepting terms dictated by the U.S. and Russia. Despite this, Zelenskiy continues to receive strong support from NATO and various European nations, who emphasize that Kyiv’s participation in negotiations is essential.

U.S. Vice President JD Vance has indicated that efforts are underway to organize a meeting involving Trump, Putin, and Zelenskiy.

Previous attempts at peace, including three rounds of talks between Ukraine and Russia over recent months, have yet to bring an end to the conflict.

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 dropped Monday amid reduced geopolitical worries, as investors shifted focus to critical U.S. inflation data set to be released this week.

By 04:30 ET (08:30 GMT), Spot Gold declined 1% to $3,365.26 an ounce, while December Gold Futures fell 2.1% to $3,419.90 per ounce.

Calm before the Ukraine summit

The gold market continued its recent downturn, influenced by the approaching meeting between U.S. President Donald Trump and Russian President Vladimir Putin on August 15 in Alaska, aimed at negotiating an end to the conflict in Ukraine. The passing of Trump’s deadline without harsher U.S. sanctions on Russia contributed to easing investor concerns, lowering demand for gold as a safe haven.

“But with Russia demanding that Ukraine cede occupied territory to end the war, it’s difficult to see a quick solution,” said analysts at ING, in a note. “It’s unlikely that Ukraine will agree to give up its own territory.”

Inflation data takes center stage

Market attention now turns to key inflation indicators from the U.S. The Consumer Price Index (CPI) for July is due Tuesday, followed by the Producer Price Index (PPI) later in the week.

Traders are awaiting these readings to help gauge the Federal Reserve’s policy direction, with expectations of a September rate cut priced near 90% following disappointing employment numbers earlier this month.

The U.S.-China tariff truce, which has paused escalation of import duties, expires on August 12. While optimism exists for its extension, uncertainty remains high.

Tariff uncertainty hits gold imports

Last week, gold futures climbed to a record above $3,530 an ounce after the U.S. Customs and Border Protection ruled that standard 1-kilogram and 100-ounce gold bars would be subject to import tariffs.

This ruling caused disruptions in bullion flows, with some Swiss refiners halting shipments to the U.S., Reuters reported. Industry groups warned this move could negatively impact the global gold trade, especially since Switzerland is a major refining hub.

“However, this has now eased, with reports that the White House will clarify the issue with an executive order amid suggestions that gold bar imports won’t face tariffs,” ING added.

Other metals retreat

Other precious metals also saw declines: Platinum Futures slipped 0.7% to $1,330.80 per ounce, and Silver Futures dropped 1.4% to $37.990 per ounce.

Copper futures softened as well, with contracts on the London Metal Exchange down 0.1% to $9,751.50 per ton and U.S. Copper Futures falling 0.5% to $4.4485 per pound.

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.