Author: Fiona Craig

CelLBxHealth plc (LSE:CLBX) has highlighted new independent research showing that circulating tumor cells captured using its Parsortix platform reflected genetic characteristics found in glioblastoma tumor tissue, supporting further investigation of the technology for liquid biopsy applications in brain cancer.

The peer-reviewed study, published in JCO Precision Oncology, analysed Parsortix-enriched circulating tumor cells, or CTCs, from patients with glioblastoma. Researchers found that mutations and chromosomal alterations detected in the captured cells corresponded with changes identified in tumor tissue.

The study also proposed a numerical CTC threshold for distinguishing patients with glioblastoma from healthy controls. Combined with CelLBxHealth’s own data in glioblastoma, the findings provide further evidence for evaluating Parsortix-based CTC analysis as a complementary approach to diagnosis and disease monitoring.

The potential application is particularly relevant in glioblastoma because obtaining repeat tissue biopsies can carry significant risks, while conventional imaging may be difficult to interpret in some circumstances. A blood-based approach capable of providing molecular information could therefore offer a less invasive way of generating additional information about a patient’s disease.

Parsortix is designed to capture CTCs from blood while preserving them for subsequent molecular analysis. The cells can then be assessed using established laboratory techniques covering areas such as imaging, genomic analysis and protein profiling.

While the study strengthens the research case for Parsortix in glioblastoma, further clinical development would be needed to establish how the approach could ultimately be incorporated into diagnosis or patient monitoring.

CelLBxHealth’s wider outlook remains constrained by significant financial challenges and weak technical indicators. Recent corporate developments provide some positive momentum, but financial performance and valuation considerations continue to weigh on the overall picture.

More about CelLBxHealth plc

CelLBxHealth plc is a circulating tumor cell technology company developing solutions for oncology research, drug development and clinical applications.

Its patent-protected Parsortix platform captures circulating tumor cells from blood for subsequent molecular analysis using standard laboratory technologies, including imaging, proteomic profiling and genomic testing.

The company is pursuing revenue through three principal areas: sales of Parsortix instruments and consumables through CRO and clinical laboratory relationships, clinical trial support and assay development from its GCLP-compliant UK facility, and lab-developed tests advanced internally and through strategic collaborations.

This model gives CelLBxHealth exposure to liquid biopsy and precision oncology applications spanning cancer research, pharmaceutical development and potential clinical testing. Its shares trade on AIM under the symbol CLBX.

URU Metals (LSE:URU) has completed an integrated 3D geological model for the Zeb Nickel Project in South Africa, combining multiple exploration datasets to improve targeting of higher-grade nickel-copper-platinum group element mineralisation ahead of its next drilling campaign.

The model brings together drilling results, geological interpretation, magnetic and gravity surveys, and airborne and ground electromagnetic data. The work identified a close spatial relationship between Critical Zone rocks containing known Ni-Cu-PGE mineralisation and the project’s strongest electromagnetic responses.

URU expects the improved geological understanding to help refine drilling along the interpreted mineralised corridor, particularly within the higher-grade Zone 2 area. More targeted drilling could also contribute towards the company’s longer-term objective of establishing a maiden resource estimate.

Another focus emerging from the modelling is Ground FDEM Target 1, a distinct electromagnetic conductor that coincides with a gravity anomaly. The target is located where a chonolith extending from the Uitloop II ultramafic body opens into a larger intrusive chamber.

URU considers this geological setting prospective for sulphide accumulation and plans to test Target 1 for potential semi-massive to massive Ni-Cu-PGE sulphides.

The next drilling programme will therefore have two main objectives: extending the known higher-grade mineralisation at Zone 2 and testing the newly prioritised Target 1. Individual drill targets will be ranked against the exploration budget available to the company.

The enhanced 3D model could help URU use its exploration capital more efficiently by improving drill-hole placement and concentrating expenditure on areas considered to have the strongest geological and geophysical support.

Financial constraints nevertheless remain an important consideration. URU is still pre-revenue, continues to consume cash and has negative equity, leaving future exploration progress dependent on maintaining sufficient funding.

Technical indicators also remain weak, with a negative MACD and the shares trading below key short-term moving averages. Recent progress, including securing the mining right and completing an oversubscribed financing, provides some offset as the company prepares for further exploration.

More about URU Metals

URU Metals is a mineral exploration company focused on the Zeb Nickel Project in Limpopo, South Africa.

The project targets nickel, copper and platinum group element sulphide mineralisation within the Bushveld Complex’s Critical Zone. URU is using geological modelling, geophysical surveys and drilling to define higher-grade mineralised areas and investigate the potential for semi-massive to massive sulphide accumulations.

The company’s shares trade on the London Stock Exchange under the symbol URU.

Acuity RM Group (LSE:ACRM) has secured a new software contract with a prime defence contractor for its STREAM Classic cybersecurity risk management platform, adding more than £100,000 in annual recurring revenue.

Under the agreement, Acuity will deploy two on-premises instances of STREAM Classic to support the contractor’s involvement in a high-profile international defence programme. The installation model has been selected to meet the stringent security requirements associated with the project.

The software agreement is expected to be supplemented by a separate contract covering implementation and configuration services, potentially adding further revenue from the deployment.

Defence is already Acuity’s largest market, and the latest contract strengthens its presence in a sector where cybersecurity, data control and configurable risk management systems are particularly important.

Management also said discussions are underway with other prime contractors participating in the same international defence programme. Additional agreements could expand Acuity’s involvement while increasing recurring software revenue and associated services income.

The contract highlights the flexibility of the STREAM platform, particularly its ability to operate through on-premises installations in security-sensitive environments rather than relying exclusively on externally hosted infrastructure.

Despite the commercial progress, Acuity’s broader financial position remains challenging. Persistent losses and negative cash flow continue to weigh on the outlook, with cash generation showing signs of further deterioration.

The balance sheet provides some support through relatively low debt and equity funding, but valuation measures remain difficult to assess positively while earnings are negative and there is no dividend contribution.

Technical indicators also remain cautious, with the shares trading below major moving averages and the MACD in negative territory. Future contract wins and improvements in recurring revenue and cash generation could therefore become important indicators of whether commercial momentum is translating into stronger financial performance.

More about Acuity RM Group

Acuity RM Group is a UK AIM-listed software company specialising in cybersecurity and wider risk management solutions.

Its STREAM platform collects, analyses and manages risk information to help organisations make more informed decisions. Customers operate across sectors including government, defence, broadcasting, utilities, manufacturing and healthcare.

Acuity’s strategy centres on generating long-term organic growth from its risk management technology while also considering complementary acquisition opportunities. Its shares trade on AIM under the symbol ACRM.

InterContinental Hotels Group (LSE:IHG) delivered higher revenue, profit and earnings in the first half of 2026, supported by RevPAR growth, expanding margins and record hotel development activity across its global portfolio.

Revenue from reportable segments increased 7%, while operating profit rose 10% and adjusted earnings per share advanced 13%. Global revenue per available room, or RevPAR, grew 4.1%, with positive contributions from the Americas and Greater China.

Performance across EMEAA also supported the half-year result despite weaker conditions in the Middle East. Combined with continued cost discipline, the growth helped strengthen profitability and supported higher shareholder distributions.

Development activity reached record levels during the period. IHG opened 31,500 rooms across 197 hotels and signed another 49,200 rooms, taking net system growth to 5%. Its development pipeline expanded to approximately 348,000 rooms, providing further capacity for future expansion.

The group is also progressing with its $950 million share buyback programme and expects to return more than $1.2 billion to shareholders during 2026. Management maintained its expectations for full-year profit and earnings.

Cash generation remained strong, with adjusted free cash flow increasing to $360 million. IHG’s fee-based business model and operating efficiencies helped lift its fee margin to almost 66%, supporting investment in growth alongside shareholder returns.

Net debt nevertheless increased to $3.7 billion, primarily reflecting dividends and share repurchases. The higher debt level, together with negative equity, remains an important balance-sheet consideration despite the strength of underlying cash generation.

Overall operating momentum remains positive, supported by hotel development, free cash flow and continued capital returns. The technical picture is more neutral, while the relatively high P/E valuation and modest dividend yield provide less support from a valuation perspective.

More about InterContinental Hotels Group

InterContinental Hotels Group is a global hospitality business with 21 hotel brands spanning the luxury, premium, essentials and suites segments.

The group has more than one million rooms across approximately 7,100 hotels in more than 100 countries, alongside a development pipeline of around 2,400 properties. It also operates the IHG One Rewards loyalty programme, which has more than 160 million members.

Its portfolio includes brands such as InterContinental, Holiday Inn, Crowne Plaza, Kimpton and Iberostar Beachfront Resorts. Around 400,000 people work across IHG-branded hotels and corporate offices worldwide.

InterContinental Hotels Group PLC is incorporated in England and Wales and has shares listed in London and New York.

Lion Finance Group PLC (LSE:BGEO) reported a strong first-half performance in 2026, supported by customer growth, expanding digital engagement and higher lending and deposits across its core Georgian and Armenian markets.

Group profit reached GEL 618.8 million in the second quarter and GEL 1,203.8 million for the first half, while return on average equity remained around 27%. Book value per share increased by nearly 25% compared with the same period last year.

Operating income before cost of risk rose almost 20% year on year during the first half. The loan portfolio expanded 23% on a constant-currency basis, while client deposits and notes increased by almost 27%, highlighting continued growth across the group’s banking franchises.

Digital adoption remained an important contributor to the performance. Daily active users in Georgia exceeded 1 million, while Ameriabank recorded strong growth in its retail digital user base. The increased engagement supported further market share gains across both lending and deposits.

Credit quality remained resilient despite the rapid expansion of the loan book. The group maintained a low cost of credit risk, while non-performing loans stood at just above 2%. Net interest margin improved to 6.3%, supported by particularly strong performance in Georgia.

Lion Finance also increased shareholder returns. The board raised the interim dividend and authorised a new GEL 59 million share buyback, supported by what the group described as robust capital and liquidity positions.

Management remains positive about the economic environment in Georgia and Armenia, pointing to resilient growth in both countries and the increasing strategic importance of the Middle Corridor. Higher GDP forecasts could support further financial-sector development, infrastructure investment and demand for banking services.

For Lion Finance, continued digital adoption alongside economic expansion could provide further opportunities to deepen customer relationships and increase market penetration. Maintaining asset quality while sustaining rapid loan and deposit growth will remain important as the group expands.

More about Lion Finance Group PLC

Lion Finance Group PLC is a diversified financial services holding company with its principal operations in Georgia and Armenia.

Its Georgian operations include Bank of Georgia and investment bank Galt & Taggart, while Ameriabank forms the core of its Armenian business. The group also has interests in retail and SME banking in Belarus and operates a Georgian digital ecosystem covering areas including e-commerce and SaaS solutions.

Lion Finance Group shares trade on the London Stock Exchange under the symbol BGEO.

Spirax Group (LSE:SPX) delivered higher revenue and adjusted operating profit in the first half of 2026, with organic sales growth running comfortably ahead of global industrial production and management maintaining its full-year expectations.

Group revenue increased 5% year on year to £863.8 million, while adjusted operating profit rose 8% to £171.1 million. The adjusted operating margin improved to 19.8%, while statutory operating profit climbed 44%, largely reflecting restructuring charges recorded in the comparable period last year.

Growth was recorded across all three divisions. Electric Thermal Solutions led the performance with an 11% increase in sales, followed by a 7% rise at Watson-Marlow Fluid Technology Solutions. Steam Thermal Solutions revenue increased 1%, although the business generated demand growth at more than twice the rate of underlying industrial production.

Spirax highlighted improving momentum in semiconductor and biopharmaceutical markets, while operating leverage and efficiency improvements supported stronger margins within the Electric Thermal Solutions and Watson-Marlow businesses.

The group maintained its 2026 guidance for mid-single-digit organic revenue growth and further margin progress. Its Together for Growth strategy remains central to longer-term plans, with management targeting sustained organic expansion and high-margin growth.

Cash conversion declined to 54% from 61%, reflecting normal seasonal patterns and planned inventory investment. However, return on capital employed improved by 180 basis points, while leverage declined to 1.6 times EBITDA as net debt moved lower.

The results indicate that Spirax continues to invest in sales capabilities, digital tools, product development and decarbonisation technologies while maintaining a focus on capital returns and balance-sheet discipline.

The broader outlook remains mixed. Revenue and core operating profitability remain relatively resilient, but multi-year pressure on margins and returns, higher leverage and softer free-cash-flow momentum continue to weigh on the financial picture.

Technical indicators are more supportive, with the shares trading above important moving averages and the MACD positive. Valuation provides less support, however, as an elevated P/E multiple offsets some of the appeal from the company’s moderate dividend yield.

More about Spirax Group

Spirax Group plc is a UK-headquartered FTSE 100 industrial technology company specialising in thermal energy and fluid technology for mission-critical industrial processes.

Its operations are divided between Steam Thermal Solutions, Electric Thermal Solutions and Watson-Marlow Fluid Technology Solutions, serving industries including food production, healthcare, semiconductor manufacturing and biopharmaceuticals.

The group operates more than 30 manufacturing facilities across nearly 70 countries and serves more than 100,000 customers. Its technologies are designed to improve industrial efficiency, safety and sustainability, with an increasing focus on electrification and decarbonisation.

Spirax is also developing electrification technologies for boilers and process heating that can eliminate direct greenhouse gas emissions when powered using green electricity.

The company employs approximately 10,000 people worldwide, and its shares trade on the London Stock Exchange under the symbol SPX. Spirax Group is a constituent of the FTSE 100 and FTSE4Good indices.

Sunrise Resources (LSE:SRES) has been granted a new prospecting licence covering its high-grade Bakers Gold Project in Western Australia’s Murchison Goldfield, restoring exploration rights over an area of the Meekatharra Greenstone Belt.

The new licence covers approximately 150 hectares and provides an initial four-year tenure, with the potential for a further four-year extension. The area sits within a gold-producing region that contains several operating and historical mines but has seen relatively limited exploration in parts of the belt.

The licence award follows the resolution of an Aboriginal Native Title objection through an agreement with Yugunga-Nya PBC. The agreement establishes a framework under which Sunrise can carry out exploration while addressing heritage protection requirements.

Securing the licence also allows Sunrise to return its attention to Bakers after previously writing off expenditure associated with the project. The company now intends to resume drilling, including follow-up work around an earlier high-grade gold intersection.

Renewed exploration comes as activity in the surrounding region increases following nearby gold discoveries, potentially adding strategic interest to Sunrise’s position within the Murchison Goldfield.

Despite the exploration progress, Sunrise’s broader outlook remains constrained by its financial position. Recurring losses, inconsistent revenue and continued cash consumption remain key considerations, although leverage is relatively low.

Technical indicators also remain cautious, with the shares trading below important longer-term moving averages and the MACD remaining negative. Traditional valuation measures offer limited support while the company remains loss-making, with the negative P/E reflecting the absence of positive earnings and no dividend yield available to provide an income component.

More about Sunrise Resources

Sunrise Resources is a mineral exploration company with interests in gold projects in Western Australia and other resource assets. Its shares trade on AIM under the ticker SRES.

Through Australian subsidiary Sunrise Minerals Australia Pty Ltd, the company is targeting prospective areas including the Meekatharra Greenstone Belt within the Murchison Goldfield, where both historic mining activity and more recent discoveries demonstrate the region’s gold potential.

U.S. equity futures were little changed on Monday as investors paused following a powerful week for Wall Street, with upcoming inflation figures expected to provide the next major test for markets and Federal Reserve interest-rate expectations.

Monday offers relatively few major U.S. economic releases, leaving traders to digest the recent rally that carried the S&P 500 to another record closing level on Friday.

The focus is increasingly shifting towards inflation data scheduled for the coming days. The figures take on added importance after Friday’s unexpectedly weak employment report raised questions about the strength of the U.S. economy while simultaneously reducing expectations for further monetary tightening.

“Consensus forecasts point to a modest easing in both headline and core CPI, which, if realized, would reinforce the view that the Fed can afford to remain patient,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

She added, “That would likely keep downward pressure on Treasury yields and provide further support for risk assets.”

S&P 500 reaches another record as Nasdaq rallies

Wall Street ended Friday firmly higher, extending an early advance throughout the session as investors responded positively to the implications of the weaker employment figures.

The Nasdaq was the strongest of the major benchmarks, climbing 342.26 points, or 1.3 percent, to 26,690.62.

The S&P 500 gained 47.68 points, or 0.6 percent, to finish at a record 7,757.64, while the Dow Jones Industrial Average rose 151.83 points, or 0.3 percent, to 54,036.93.

Friday’s gains completed an impressive week for U.S. equities. The Nasdaq surged 5.2 percent, the S&P 500 advanced 3.6 percent and the Dow climbed 3 percent.

Surprise payroll decline reduces fears of another Fed hike

Investor sentiment improved after the Labor Department revealed that non-farm payrolls unexpectedly declined by 23,000 in July.

June’s employment increase was also revised substantially lower to 20,000 jobs from the 57,000 initially reported.

The July figure contrasted sharply with economists’ expectations for an increase of 88,000 jobs, providing further evidence that momentum in the U.S. labour market may be weakening.

For equity investors, however, the disappointing employment numbers also carried a potentially positive implication by reducing the perceived likelihood of another Federal Reserve rate increase next month.

The unemployment rate unexpectedly improved, edging down to 4.1 percent from 4.2 percent in June, compared with expectations for an unchanged reading.

Gold miners and technology shares outperform

Several market sectors benefited strongly from Friday’s shift in interest-rate expectations.

Gold mining stocks rallied alongside higher bullion prices, sending the NYSE Arca Gold Bugs Index up 7.4 percent to its highest closing level in more than two months.

Computer hardware companies were another standout, with the NYSE Arca Computer Hardware Index surging 4.4 percent.

Biotechnology stocks also attracted significant buying interest, lifting the NYSE Arca Biotechnology Index by 3.2 percent.

Semiconductor, housing and software shares recorded sizeable gains as well, contributing to the broad advance across Wall Street.

The question facing investors at the beginning of the new week is whether those gains can be sustained. With major indices already coming off a strong rally and the S&P 500 sitting at record levels, the next inflation readings could determine whether expectations for a more patient Federal Reserve provide another catalyst for stocks or prompt investors to reassess the recent advance.

European equity markets were mixed on Monday as investors continued to monitor uncertainty surrounding the Strait of Hormuz while preparing for important U.S. inflation figures later in the week that could provide further direction on the Federal Reserve’s interest-rate outlook.

Geopolitical developments remained a major influence on sentiment after Iran warned that it would not fully reopen the Strait of Hormuz unless the United States agreed to a series of conditions.

The stance has renewed concerns that U.S. President Donald Trump could reconsider military measures that had recently been put aside if diplomatic efforts fail to produce sufficient progress.

However, Trump adopted a more patient tone in an interview with Axios on Sunday, indicating that he was prepared to allow mounting economic pressure on Iran to play a larger role rather than immediately pursuing further military escalation.

FTSE 100 slips while DAX and CAC 40 advance

The cautious backdrop produced divergent performances across Europe’s largest stock markets.

The U.K.’s FTSE 100 Index declined 0.2 percent, while France’s CAC 40 Index edged 0.1 percent higher. Germany’s DAX Index performed more strongly, gaining 0.3 percent.

Investors are also looking towards U.S. inflation data later this week for fresh evidence on the direction of price pressures and the potential implications for Federal Reserve monetary policy.

Plus500 rallies after record first-half performance

Among individual companies, Plus500 (LSE:PLUS) shares surged in London after the online trading group announced record results for the first half of the year.

The strong performance contrasted with weakness in Marshalls (LSE:MSLH), which moved sharply lower after the building products manufacturer reported a slight decline in first-half revenue.

Swiss-Irish baked goods company Aryzta (TG:YZA0) also came under notable selling pressure after announcing lower profit and revenue for the first six months of the year.

UK permanent hiring stabilises after prolonged decline

Economic data provided a more encouraging signal from the British labour market.

The KPMG/REC Report on Jobs showed that permanent staff appointments stabilised during July, bringing an end to a downturn that had lasted 45 consecutive months.

Temporary billings also strengthened, recording their fastest growth in three years as employers increasingly turned towards flexible staffing arrangements.

The improvement offered some evidence of stabilisation in hiring conditions, although geopolitical uncertainty and the upcoming U.S. inflation figures remained key considerations for European investors at the start of the week.

Beyoncé has taken complete control of the SirDavis whisky brand after French luxury group LVMH (EU:MC) sold its interest in the business to the American singer, the company announced on Monday.

LVMH confirmed the disposal but did not disclose the financial terms of the transaction or provide further information about the circumstances surrounding its exit.

The deal gives Beyoncé full ownership of a spirits brand that was originally created through a partnership with the luxury conglomerate.

SirDavis partnership began in 2024

SirDavis was launched in 2024 as a joint venture between Beyoncé and LVMH, combining the singer’s global profile with the luxury group’s extensive experience in premium wines and spirits.

The collaboration formed part of a wider trend of luxury companies partnering with prominent musicians and celebrities to develop brands capable of reaching new audiences while maintaining a premium market position.

Beyoncé’s acquisition of LVMH’s stake now brings that partnership structure to an end and places the future development of SirDavis entirely under her ownership.

Celebrity partnerships remain part of luxury drinks market

The original SirDavis venture followed other high-profile collaborations between luxury groups and celebrities.

LVMH has previously worked with Beyoncé’s husband, Jay-Z, through its investment in the Armand de Brignac champagne brand, illustrating the luxury company’s broader strategy of combining established drinks expertise with influential global personalities.

With LVMH (EU:MC) now exiting SirDavis, Beyoncé will have sole control over the whisky brand’s future strategy and development. No additional information has been provided regarding potential changes to production, distribution or marketing following the transaction.