ADVFN UK Market News

Category: Market News

  • Mkango’s HyProMag Advances UK Rare Earth Magnet Recycling with Siemens Collaboration

    Mkango’s HyProMag Advances UK Rare Earth Magnet Recycling with Siemens Collaboration

    Mkango’s (LSE:MKA) subsidiary HyProMag is progressing the commissioning and scale-up of its rare earth magnet recycling and manufacturing facility at Tyseley Energy Park in Birmingham. The company is also strengthening commercial relationships, highlighted by a new collaboration with Siemens, which has integrated HyProMag’s recycled NdFeB magnets into a SIMOTICS servomotor rotor showcased at Hannover Messe. This development demonstrates the performance and commercial viability of recycled magnets in demanding industrial applications.

    Production Growth and Operational Expansion

    HyProMag has produced 9.2 tonnes of recycled NdFeB alloy powder so far, with 7.4 tonnes already delivered to customers. In addition, magnet samples have been supplied to more than 20 potential clients across sectors including motors, medical technology, and audio equipment. The company has begun automated pre-processing of hard disk drives to recover magnet scrap, while also extracting additional components such as printed circuit board assemblies. Plans are underway to expand capacity in phases, increasing output from an initial range of 100–350 tonnes per year to as much as 1,000 tonnes.

    Technical Development and Strategic Partnerships

    Ongoing technical work is focused on developing higher-coercivity NdFeB magnet grades, including the use of grain boundary diffusion techniques and blending recycled material with virgin inputs to meet rising demand from the automotive sector. These efforts are supported by the REACT UK project, which includes partners such as Jaguar Land Rover and Less Common Metals. HyProMag has also secured funding from the Advanced Propulsion Centre to support the development of a fully circular supply chain for automotive magnets and to assess the scalability of UK-based manufacturing for zero-emission vehicle technologies.

    More about Mkango Resources

    Mkango Resources is a rare earths company focused on building both primary and recycled supply chains, primarily through its HyProMag subsidiary operating in the UK, Germany, and the United States. HyProMag specialises in recycling neodymium-iron-boron (NdFeB) magnets using Hydrogen Processing of Magnet Scrap technology, supplying customers across industries including automotive, industrial motors, medical devices, and audio systems.

  • ASOS Improves Profitability and Reaffirms FY26 Outlook as Turnaround Progresses

    ASOS Improves Profitability and Reaffirms FY26 Outlook as Turnaround Progresses

    ASOS (LSE:ASC) reported a 51% increase in adjusted EBITDA for the first half of fiscal 2026, despite continued top-line pressure, with gross merchandise value (GMV) down 9% and revenue declining 14%. The improvement in profitability was driven by stronger gross margins and reduced supply chain costs, helping to narrow overall losses. The company also highlighted encouraging trends in its core UK market and womenswear segment, alongside improved new customer growth and reduced churn, pointing to early signs of traction in its turnaround efforts.

    Margin Expansion and Cost Efficiencies Drive Performance

    Management noted eight consecutive quarters of gross margin improvement, supported by more than 500 basis points of supply chain cost savings achieved over the past three years. These gains have been driven by initiatives such as more flexible fulfilment operations, renegotiated logistics contracts, and increased automation. ASOS is also investing in AI-led personalisation, app enhancements, and closer collaboration with Microsoft to improve customer engagement and operational efficiency. The company maintained its full-year guidance, while acknowledging ongoing challenges from new US tariffs and cost pressures linked to developments in the Middle East.

    Strategic Initiatives Support Growth Ambitions

    Key strategic actions included expanding its Test & React product model, relaunching the 4505 activewear range with strong GMV growth, and growing its ASOS Fulfilment Services and partner brand network. Early results from app improvements and curated features such as “The Heart” indicate higher customer spend and faster product sell-through. These initiatives form part of ASOS’s broader plan to strengthen its position as a leading online fashion destination for younger consumers.

    Financial Challenges Offset by Improving Sentiment

    Despite progress on profitability, the company’s outlook remains constrained by declining revenue, ongoing losses, and relatively high leverage, alongside mixed technical indicators suggesting limited momentum. However, a more positive tone from management, including improved profitability metrics, refinancing progress, and supportive guidance for FY26 margins and EBITDA, provides some reassurance. Valuation support remains limited due to the company’s loss-making position.

    More about ASOS plc

    ASOS plc is a UK-based online fashion retailer focused on young, style-conscious consumers worldwide. The company offers a mix of own-brand clothing and accessories alongside a wide selection of third-party brands, with growing exposure to categories such as sportswear and Face + Body. Its operations are centred on a digital-first platform, with a strong emphasis on mobile and app-based shopping experiences.

  • ATOME Extends Funding Deadline for Villeta Green Fertiliser Project

    ATOME Extends Funding Deadline for Villeta Green Fertiliser Project

    ATOME PLC (LSE:ATOM), the UK’s only dedicated international industrial-scale low-carbon fertiliser company, is progressing development of its flagship Villeta project in Paraguay. The project is supported by a 145MW renewable power purchase agreement and a long-term offtake arrangement with Yara International. In parallel, the company has established a joint venture in Costa Rica to expand green fertiliser production across Central America, strengthening its position in the push to decarbonise the agricultural supply chain.

    Funding Timeline Extended as Project Advances

    ATOME confirmed that the longstop date for securing funding for the US$650 million Villeta plant, which is designed to produce 260,000 tonnes per year, has been extended to 24 April 2026. The company expects to provide a further update shortly. The project, underpinned by anchor equity from Hy24 and a US$465 million EPC contract with Casale, remains central to ATOME’s strategy of scaling renewable-powered fertiliser production. Financing discussions are ongoing ahead of planned construction activity beginning in 2026.

    Financial Position and Market Considerations

    The company’s outlook is constrained by its pre-revenue status, ongoing losses, and negative free cash flow, which together highlight continued reliance on external funding. However, technical indicators suggest relatively strong momentum, with the share price trading above key moving averages and supported by a positive MACD signal. Valuation remains difficult to assess given negative earnings and the absence of a dividend.

    More about ATOME PLC

    ATOME PLC is an AIM-listed developer of green and low-carbon fertiliser projects, with a portfolio of 445MW of developments in Paraguay and additional opportunities across Central America. The company operates within the Mercosur agricultural export region, aiming to replace imported, fossil fuel-based fertilisers with renewable alternatives that enhance food security while reducing emissions.

  • Creightons Delivers Resilient FY26 Performance Amid Rising Labour Costs

    Creightons Delivers Resilient FY26 Performance Amid Rising Labour Costs

    Creightons (LSE:CRL) reported a steady performance for the year ended 31 March 2026, managing increased labour costs driven by changes to UK National Insurance and the National Living Wage. Revenue is expected to remain broadly flat at around £53.8 million, with strong growth in private label products helping offset weaker consumer demand and some disruption among key retail partners.

    Margins Stable Despite Cost Pressures

    Gross profit margins were maintained through operational efficiencies, although overall costs increased due to wage inflation and continued investment in staff and product development. As a result, profit before tax is expected to fall to approximately £2.7 million, down from £3.5 million in the prior year. Despite this decline, the company retained a solid cash position and is undertaking a corporate rebrand to better align with its trade-facing identity.

    Strategy Focused on Long-Term Growth

    Management expressed confidence in Creightons’ market position, highlighting its category expertise, in-house manufacturing capabilities, and strong retail partnerships. The company aims to drive future growth through new business wins, continued expansion of its private label offering, and the rollout of its refreshed corporate branding, positioning itself for long-term value creation despite near-term market uncertainty.

    Financial Strength and Market Signals

    Creightons benefits from a strong balance sheet and an attractive valuation, with a low price-to-earnings ratio suggesting potential undervaluation. However, technical indicators point to a bearish trend in the stock, while a slowdown in free cash flow growth presents an area of concern that may need to be addressed.

    More about Creightons

    Creightons Plc is a UK-based manufacturer and owner of beauty and wellbeing brands, supplying both branded and private label products. The group works closely with retail partners and offers contract manufacturing services, with an increasing focus on private label ranges that are delivering strong growth across several core customers.

  • Metals Exploration Cuts Runruno Guidance as La India Project Advances Rapidly

    Metals Exploration Cuts Runruno Guidance as La India Project Advances Rapidly

    Metals Exploration (LSE:MTL) reported unaudited pre-tax free cash flow of US$29.4 million for Q1 2026, generated from gold revenue of US$52.9 million at its Runruno operation. This performance came despite lower production levels, reduced sales volumes, and higher all-in sustaining costs of US$2,067 per ounce, as the mine approaches the end of its life. The company has revised down its 2026 production and cost guidance for Runruno, citing disruption to the BIOX circuit, lower ore grades, and the effects of historical illegal mining. However, management confirmed that remediation work has restored normal processing and that Runruno continues to serve as a key cash-generating asset supporting future growth.

    La India Project Progresses Ahead of Schedule

    Development of the La India gold project in Nicaragua is progressing strongly, now around 40% complete and tracking ahead of schedule within a slightly increased budget of US$171 million. First gold production remains targeted for December 2026. The project has also secured a 25-year renewal of its primary mining concession starting in 2027. Exploration success across La India and the nearby Cacao site, along with newly acquired concessions, suggests potential for extending mine life and significantly expanding the resource base. These developments position the company to potentially double current Runruno output over time and enhance its standing as a mid-tier gold producer.

    Strong Fundamentals Offset by Valuation Concerns

    Metals Exploration’s outlook is supported by solid financial performance, including revenue growth, improving margins, and strong cash flow generation. Technical indicators also point to a sustained upward trend in the stock, although overbought conditions may pose short-term risks. On the downside, valuation remains less compelling due to a negative price-to-earnings ratio and the absence of a dividend yield.

    More about Metals Exploration

    Metals Exploration plc is a London-listed gold producer, developer, and explorer with assets in the Philippines and Nicaragua. Its primary producing asset is the Runruno mine in the Philippines, while the La India project in Nicaragua is under construction and expected to become the company’s next major production hub.

  • Quantum Data Energy Raises £1m to Support Flexgen Expansion and Project Financing

    Quantum Data Energy Raises £1m to Support Flexgen Expansion and Project Financing

    Quantum Data Energy PLC (LSE:QDE) is advancing plans to fund its growing portfolio of flexible generation power projects, targeting the development of more than 300 MW of flexgen capacity. The company is currently in advanced discussions with a UK institutional investor regarding project-level financing, which would support assets from construction through to operational, revenue-generating stages. Funding under this arrangement is expected to be linked to production milestones.

    Share Placing to Fund Equity Contribution

    To help meet its equity requirements for the planned project financing, the company has raised £1 million through a share placing, issuing 38,461,538 new ordinary shares at 2.6p each. This represents a premium to its February 2026 fundraising. The capital raised will primarily be used to increase operational megawatts within its portfolio. Following the admission of the new shares on 30 April 2026, the company’s total issued share capital will increase to 261,590,690 ordinary shares, resulting in modest dilution for existing shareholders while supporting growth initiatives.

    Financial Challenges and Market Pressures

    The company’s outlook remains constrained by weak financial performance, including ongoing operating losses, negative operating and free cash flow, and rising leverage. Market technicals also point to continued downward pressure on the stock, with only limited signs of oversold conditions. From a valuation perspective, traditional metrics such as price-to-earnings are less meaningful due to losses, and there is no dividend yield to provide additional investor support.

    More about Quantum Data Energy PLC

    Quantum Data Energy PLC is a UK-based independent energy company focused on developing, owning, and operating power generation assets. Listed on the London Stock Exchange Main Market, the business specialises in flexible, modular energy solutions designed to support the UK grid and energy-intensive applications such as AI data centres, with ambitions to establish itself as a key player in AI-driven energy infrastructure.

  • Domino’s Pizza Group Reports Strong Q1 Growth and Reaffirms 2026 Outlook

    Domino’s Pizza Group Reports Strong Q1 Growth and Reaffirms 2026 Outlook

    Domino’s Pizza Group (LSE:DOM) delivered a solid performance in the first quarter of 2026, with total system sales increasing 5.8% and like-for-like sales rising 4.5% compared with the same period last year. Order volumes also moved higher, with total orders up 2.3% and like-for-like orders growing 0.9%, supported by the successful rollout of its new CHICK ‘N’ DIP product range.

    Resilient Trading and Strategic Focus

    Management pointed to resilient trading conditions despite a difficult macroeconomic environment, highlighting that key input costs are hedged through 2026 and partially into 2027, helping to limit short-term cost pressures. The board reiterated its full-year earnings guidance, while the CEO underlined continued efforts to strengthen the core business, enhance operational performance, and build momentum through product innovation, including the recently introduced Italianos thin-crust pizza range.

    Financial Outlook and Key Risks

    While the group continues to generate positive cash flow, its outlook is weighed down by declining profitability and balance sheet concerns, including high debt levels and persistently negative equity. On the other hand, valuation remains relatively attractive, with a low price-to-earnings ratio and a strong dividend yield providing support. Technical indicators are mixed, offering no clear signal of sustained market momentum.

    More about Domino’s Pizza

    Domino’s Pizza Group PLC operates in the quick-service restaurant sector as the master franchisee for the Domino’s brand across the UK and selected European markets. The company specialises in pizza delivery and takeaway services, regularly introducing new menu items to drive demand and reinforce its core offering.

  • Foxtons Faces Sales Decline but Leans on Lettings Growth and Cost Discipline in Q1 2026

    Foxtons Faces Sales Decline but Leans on Lettings Growth and Cost Discipline in Q1 2026

    Foxtons (LSE:FOXT) reported group revenue of £39.6m for the first quarter of 2026, representing a 10% decline year on year. Growth in lettings revenue of 5%, alongside a slight increase in financial services, was outweighed by a sharp 35% drop in sales revenue, reflecting a challenging comparison period and softer buyer demand. In response, the company continues to prioritise its lettings-focused strategy, completing two regional acquisitions, reallocating staff toward lettings operations, and implementing at least £3m in annualised cost savings to help preserve margins. It is also positioning itself to benefit from anticipated regulatory changes under the Renters’ Rights Act.

    Lettings Strength Supports Stable Outlook

    Management said trading remains consistent with expectations, with no change to full-year guidance. The performance is underpinned by the relative stability of lettings and financial services, which together now contribute more than two-thirds of total revenue. By leveraging its existing platform to integrate bolt-on acquisitions and enhance efficiency, particularly in a weaker sales environment, Foxtons aims to grow market share while maintaining operational discipline and delivering long-term value.

    Financial Progress Balanced by Market Risks

    Foxtons’ outlook is supported by improving fundamentals, including a return to profitability since 2022, reduced leverage, and positive cash generation. The company also trades on a relatively low price-to-earnings ratio and offers a dividend, making it potentially attractive from a valuation perspective. However, technical indicators suggest weak momentum, with the stock trading below key moving averages and showing negative MACD signals. Additional risks include ongoing sales weakness, cost and margin pressures, and short-term working capital challenges, despite expectations for growth in 2026.

    More about Foxtons

    Foxtons Group plc is a London-focused estate agency and the UK’s largest lettings agency brand, managing more than 32,000 tenancies. The business operates across Lettings, Sales, and Financial Services, with a strategic emphasis on generating recurring, non-cyclical income from lettings. Its operations are supported by technology-driven systems and targeted acquisitions in expanding regional markets such as Birmingham and Milton Keynes.

  • Young & Co.’s Brewery Delivers Strong FY26 Trading and Expands with Cubitt House Acquisition

    Young & Co.’s Brewery Delivers Strong FY26 Trading and Expands with Cubitt House Acquisition

    Young & Co.’s Brewery (LSE:YNGA) reported a solid trading performance for the 52 weeks ended 30 March 2026, with total managed house revenue increasing by 4.6% and like-for-like sales up 4.7%. The company said full-year results are expected to meet its guidance, highlighting the strength of its premium estate despite ongoing cost pressures across the sector and broader economic uncertainty. Management pointed to the resilience of its well-invested pubs as a key factor supporting continued profitable growth.

    Strategic Expansion with Cubitt House Deal

    During the period, the group completed the acquisition of Cubitt House London Pubs, a collection of eight venues, three of which include accommodation, situated in some of London’s most affluent areas. Young’s noted that the acquisition aligns with its disciplined growth strategy and is set to enhance its presence in the capital. The integration of the new sites and teams follows the company’s transition to the Main Market of the London Stock Exchange.

    Financial Position and Market Outlook

    Young & Co.’s Brewery continues to demonstrate a solid financial footing and has taken steps to improve shareholder returns, including share buyback initiatives. However, market indicators point to some downward momentum in the stock, while its relatively high price-to-earnings ratio may raise concerns about valuation. That said, the company’s dividend yield offers an element of support for investors assessing its overall appeal.

    More about Young & Co.’s Brewery

    Young & Co.’s Brewery operates a portfolio of premium managed pubs and pub bedrooms, primarily across London and the South of England. The business focuses on high-quality, well-invested venues in affluent locations, aiming to attract customers through a combination of elevated food, drink, and distinctive hospitality experiences.

  • Wall Street Set for Rebound as Ceasefire Extension Lifts Early Sentiment: Dow Jones, S&P, Nasdaq, Wall Street

    Wall Street Set for Rebound as Ceasefire Extension Lifts Early Sentiment: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. equity futures signaled a firmer open on Wednesday, with markets looking to recover some of the ground lost over the past two sessions.

    The improved tone follows news that President Donald Trump has opted to extend the ceasefire with Iran, prompting renewed buying interest.

    Referring to Iran’s leadership as “seriously fractured,” Trump said on Truth Social that the U.S. would pause further military action until Iranian officials “come up with a unified proposal.”

    At the same time, he emphasized that U.S. forces would continue enforcing a naval blockade on Iranian ports.

    Tehran dismissed the ceasefire extension as “meaningless” and reiterated that the Strait of Hormuz will remain shut until the blockade is lifted.

    Mahdi Mohammadi, adviser to parliamentary speaker Mohammad Bagher Ghalibaf, described the move as an attempt “to buy time for a surprise strike,” adding that the “losing side cannot dictate terms.”

    Shortly after Trump’s remarks, Iran’s Revolutionary Guard Navy said it had detained two container vessels in the Strait of Hormuz over alleged “maritime violations.”

    The back-and-forth between Washington and Tehran has injected uncertainty into markets, although investors remain cautiously optimistic about a potential diplomatic outcome.

    Confidence is also being supported by a solid start to the corporate earnings season.

    “Investors appear to be focusing more on the direction of risk — whether things are improving or deteriorating — rather than the absolute level of geopolitical tension,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

    “Earnings season is playing a key role in reinforcing this narrative,” she added. “Expectations for continued double-digit earnings growth remain intact, helping to justify elevated equity valuations even as macro risks persist.”

    After a mild dip on Monday, U.S. stocks extended their losses on Tuesday. The major indices initially moved higher but reversed direction and ended the day solidly lower.

    The Dow Jones Industrial Average fell 293.18 points, or 0.6%, to close at 49,149.38. The Nasdaq Composite dropped 144.43 points, or 0.6%, to 24,529.96, while the S&P 500 declined 45.13 points, or 0.6%, to 7,064.01.

    The downturn on Wall Street was largely driven by a sharp rise in oil prices throughout the session.

    U.S. crude futures extended Monday’s rebound, climbing more than 2.5% during the day.

    The surge in oil helped offset the steep drop seen last Friday, which had been linked to concerns ahead of the ceasefire’s expiration.

    In an interview with CNBC, Trump said he expects to “end up with a great deal” with Tehran, but also indicated that military action could resume if the ceasefire lapses.

    Separately, the New York Times reported, citing a U.S. official, that Vice President JD Vance’s planned visit to Pakistan had been called off after Iran failed to respond to U.S. proposals.

    Earlier in the session, markets drew support from upbeat corporate earnings reports.

    Shares of UnitedHealth (NYSE:UNH) surged 7% after the health insurer posted stronger-than-expected quarterly results and raised its full-year outlook.

    Homebuilder D.R. Horton (NYSE:DHI) climbed 5.8% following better-than-forecast first-quarter earnings.

    Meanwhile, 3M (NYSE:MMM) slipped 1.9% despite beating earnings estimates, as its full-year guidance disappointed investors.

    Markets were also buoyed by stronger-than-expected economic data. A Commerce Department report showed U.S. retail sales rose 1.7% in March, above expectations of 1.4%, following a revised 0.7% increase in February.

    Excluding autos, retail sales jumped 1.9%, surpassing forecasts of 1.3%, after a 0.7% gain in the prior month.

    On the sector front, gold stocks fell sharply alongside the price of bullion, with the NYSE Arca Gold Bugs Index dropping 6.4%.

    Airline shares also came under pressure, reflected in a 4.3% decline in the NYSE Arca Airline Index.

    Pharmaceuticals, commercial real estate, and utilities stocks showed notable weakness, while energy names advanced in line with higher crude prices.