ADVFN UK Market News

Category: Market News

  • Kenmare Highlights Sustainability Progress in 2025 Report Amid Weaker Financial Performance

    Kenmare Highlights Sustainability Progress in 2025 Report Amid Weaker Financial Performance

    Kenmare Resources (LSE:KMR) has released its 2025 Annual Report, outlining continued progress on sustainability initiatives while navigating a more challenging trading environment. The company confirmed alignment with Ireland’s adoption of the EU Corporate Sustainability Reporting Directive and reiterated its focus on maintaining high environmental, social, and governance standards.

    During the year, the group recorded notable improvements in safety performance and environmental efforts, including the planting of more than 200,000 trees, maintaining renewable electricity usage above 90%, and achieving high levels of water recycling. It also invested $4 million in community development projects, such as a nearly completed district hospital and new water infrastructure for local villages.

    Kenmare’s ESG standing was further reinforced through its inclusion in the FTSE4Good index and recognition as Mozambique’s most transparent extractive company for the fifth consecutive year. However, these achievements came against a backdrop of weaker financial results. Revenue declined 20% to $312.1 million due to softer pricing and reduced shipment volumes, while a $301.3 million impairment resulted in an adjusted loss after tax. Net debt increased to $158.8 million, driven by peak capital expenditure on the Wet Concentrator Plant A upgrade, leading to the suspension of the 2025 final dividend and discussions with lenders to revise its revolving credit facility.

    On the operational side, production of heavy mineral concentrate and ilmenite fell as the WCP A upgrade limited ore throughput. With major construction now complete, the company plans to draw down inventory and is targeting shipments exceeding 1.1 million tonnes and ilmenite output above 800,000 tonnes in 2026. Kenmare is also in talks with the Mozambican government to extend the Implementation Agreement governing fiscal terms at the Moma mine, a critical factor for long-term financial stability.

    The overall outlook remains under pressure, reflecting the sharp earnings decline, negative free cash flow, and higher leverage levels, alongside weak technical indicators such as trading below key moving averages. While a historically high dividend yield has been a supportive factor, the recent loss is reflected in a negative price-to-earnings ratio.

    More about Kenmare Resources

    Kenmare Resources, listed in London and Dublin, is a leading global producer of titanium minerals and zircon. Its flagship operation, the Moma Titanium Minerals Mine in northern Mozambique, supplies roughly 6% of the world’s titanium feedstocks to customers across more than 15 countries, supporting industries such as paints, plastics, and ceramics.

  • Great Southern Copper Secures £602,000 Through Warrant Exercise by Key Shareholder

    Great Southern Copper Secures £602,000 Through Warrant Exercise by Key Shareholder

    Great Southern Copper PLC (LSE:GSCU) has raised fresh capital after its largest investor, Foreign Dimensions Pty Limited, exercised a portion of its warrants. The funding highlights continued support for the Chile-focused copper-gold-silver explorer as it advances its activities around the Especularita project, located in one of the world’s most significant copper-producing regions.

    The transaction involved the subscription of 25,083,328 new ordinary shares at a price of 2.4p each, generating gross proceeds of £602,000. Once the new shares are admitted to trading on the London Stock Exchange’s Main Market, the company’s total issued share capital will increase to 741,334,611 shares, establishing a revised benchmark for voting rights and shareholder disclosures.

    Despite recent financing and encouraging exploration developments, the company’s broader outlook remains challenged. It continues to operate without revenue, while losses and cash outflows are increasing. From a technical standpoint, the stock is trading below key moving averages, with indicators such as MACD pointing to ongoing weakness. Although exploration success and funding provide potential upside, these factors currently carry less weight compared to underlying financial pressures.

    More about Great Southern Copper PLC

    Great Southern Copper PLC is a UK-listed exploration company targeting copper, gold, and silver deposits in Chile, the world’s leading copper producer. Its primary focus is the Especularita project within Chile’s coastal metallogenic belt, an area known for major copper operations, strong infrastructure, and diverse mineralisation styles. The company’s strategy is aligned with the growing demand for copper as a critical resource in the global shift toward clean energy, pursuing both large-scale, lower-grade deposits and higher-grade copper-gold-silver opportunities.

  • Wheaton Precious Metals Schedules Q1 2026 Results Release and Investor Briefing

    Wheaton Precious Metals Schedules Q1 2026 Results Release and Investor Briefing

    Wheaton Precious Metals Corp. (LSE:WPM) has announced it will publish its first-quarter 2026 financial results on May 7, after the close of trading. The company will then host a conference call and webcast on May 8 to review the quarter’s performance and address investor questions. Supporting materials, including a presentation deck, will be made available for download, with recordings of both the call and webcast accessible for an extended period.

    These updates provide investors and analysts with a defined opportunity to evaluate Wheaton’s latest financial and operational performance within its streaming-based business framework. By keeping presentation materials and replays available, the company continues to emphasize accessibility and transparency in its communication with the market.

    More about Wheaton Precious Metals

    Wheaton Precious Metals Corp., headquartered in Vancouver, operates as a major precious metals streaming company. It acquires long-term agreements to purchase gold and silver output from mining partners at predetermined low costs. Its portfolio is built around long-life, low-cost assets, offering investors exposure to commodity price movements with generally lower operational risk compared to traditional mining companies.

  • Bow Street Group Confirms FY25 Results Release Date

    Bow Street Group Confirms FY25 Results Release Date

    Bow Street Group plc (LSE:BOW) has confirmed it will publish its financial results for the year ending 28 December 2025 on Wednesday, 15 April 2026. The upcoming FY25 report is expected to provide shareholders and market watchers with a clearer picture of recent trading activity, along with insights into the performance and direction of its Wildwood and dim t restaurant brands.

    This announcement comes as many UK hospitality businesses prepare to update the market following a difficult stretch for the sector. Investors are likely to scrutinize the results for signals around consumer spending trends, inflationary pressures, and any strategic initiatives that could shape the company’s standing within the casual dining landscape.

    The group’s current outlook remains under pressure, largely due to continued financial challenges. Concerns include a strained balance sheet marked by negative equity, elevated leverage, and ongoing losses. While there has been some near-term technical improvement, with the share price moving above its 20-day moving average, the broader trajectory still appears weak and momentum indicators suggest limited upside. Valuation metrics also remain constrained, reflecting its loss-making position and the absence of a dividend profile.

    More about Bow Street Group plc

    Bow Street Group plc is a UK-based restaurant operator listed on AIM under the ticker BOW. The company manages the Wildwood and dim t brands, operating within the casual dining segment and focusing on branded, dine-in restaurant experiences across its markets.

  • Wall Street Futures Slip as Ceasefire Tensions Return to Focus: Dow Jones, S&P, Nasdaq, Futures

    Wall Street Futures Slip as Ceasefire Tensions Return to Focus: Dow Jones, S&P, Nasdaq, Futures

    U.S. stock futures pointed to a weaker opening on Thursday, suggesting markets could retreat after the strong rally recorded in the previous trading session.

    Investors may be inclined to take profits after Wednesday’s surge as concerns resurface about the stability of the Middle East ceasefire. Iran has accused both the United States and Israel of breaching the agreement.

    Iran’s deputy foreign minister, Saeed Khatibzadeh, said in an interview with the BBC that Tehran has again shut the Strait of Hormuz.

    Khatibzadeh described Israeli strikes on Lebanon earlier in the day as an “intentional grave violation” of the ceasefire agreement.

    Oil markets reacted quickly to the developments. U.S. crude futures rebounded sharply, climbing more than 5% after plunging more than 16% during Wednesday’s trading.

    “There is an air of renewed nervousness pervading financial markets after the euphoria which was initially prompted by the US-Iran ceasefire,” said Dan Coatsworth, head of markets at AJ Bell.

    “This agreement already seems to be fraying at the edges – with continued strikes by Israel on Lebanon a key sticking point,” he added. “With talks on a lasting deal yet to begin it’s understandable that investors are taking a circumspect view.”

    Late Wednesday, President Donald Trump wrote in a Truth Social post that U.S. troops would remain in the region until a “real agreement” with Iran is achieved and “fully complied with.”

    Despite the emerging concerns, stocks posted strong gains during Wednesday’s session, with the major indexes finishing at their highest levels in roughly a month.

    The rally followed a mixed performance on Tuesday. The Dow Jones Industrial Average advanced 1,325.46 points, or 2.9%, to 47,909.92. The Nasdaq Composite jumped 617.15 points, or 2.8%, to 22,635.00, while the S&P 500 rose 165.96 points, or 2.5%, to 6,782.81.

    The initial surge on Wall Street was driven by reports that the United States, Israel and Iran had agreed to a temporary two-week ceasefire.

    In a Truth Social post on Tuesday evening, President Trump said he had agreed to halt bombing operations against Iran for two weeks, provided Tehran accepted the complete, immediate and safe reopening of the Strait of Hormuz.

    Trump said Washington had received a 10-point proposal from Iran that he believed was a “workable basis on which to negotiate,” adding that the two-week pause would allow time for the agreement to be finalized.

    Iran’s Foreign Minister Abbas Araghchi later indicated that the Strait of Hormuz would reopen for two weeks if attacks against Iran were halted.

    The ceasefire announcement sent oil prices sharply lower, with U.S. crude futures plunging more than 15% and falling well below $100 per barrel.

    “The positive market reaction is understandable as a two-week ceasefire raises hope for a complete end to the conflict,” Coatsworth said.

    “The ceasefire gives the world a moment to breathe and take stock of events,” he added. “Unfortunately, there is no guarantee that everything will return to normal.”

    Airline stocks were among the top performers during Wednesday’s rally, with the NYSE Arca Airline Index jumping 7.3% to its highest closing level in a month.

    Semiconductor shares also rallied strongly, driving the Philadelphia Semiconductor Index up by 6.3%.

    Networking stocks joined the advance, pushing the NYSE Arca Networking Index higher by 5.3%.

    Housing, computer hardware and financial stocks also recorded notable gains, while oil producers and natural gas companies moved lower, diverging from the broader market trend.

  • European Stocks Decline as Weak German Data and Middle East Ceasefire Concerns Weigh: DAX, CAC, FTSE100

    European Stocks Decline as Weak German Data and Middle East Ceasefire Concerns Weigh: DAX, CAC, FTSE100

    European equities moved lower on Thursday after disappointing German industrial output figures and rising uncertainty over the stability of the Middle East ceasefire unsettled markets.

    Data released by Destatis showed that German industrial production unexpectedly contracted in February, even before the conflict in the Middle East escalated.

    Output declined by 0.3% compared with January, when production had remained unchanged. Economists had expected a 0.6% increase for the month.

    Eurozone government bond yields edged higher as early signs of strain emerged in the fragile Gulf ceasefire. Israel has intensified its strikes in Lebanon, while Iran has closed the Strait of Hormuz.

    Iran’s semi-official news agencies also published a graphic on Thursday suggesting that the country’s Revolutionary Guard Navy deployed sea mines in the Strait of Hormuz during the conflict.

    “The U.S. must choose ceasefire or continued war via Israel. It cannot have both. The world sees the massacres in Lebanon. The ball is in the U.S. court, and the world is watching whether it will act on its commitments,” Iran Foreign Minister Araghchi said in a post on X.

    U.S. President Donald Trump said American military forces will remain stationed in and around Iran until Tehran fully complies with the “real agreement.”

    Market benchmarks across Europe traded lower. Germany’s DAX Index dropped 1.1%, France’s CAC 40 Index fell 0.6%, and the U.K.’s FTSE 100 Index declined 0.3%.

    In corporate developments, Dutch pharmaceutical compounding group Fagron (EU:FAGR) shares declined despite the company reporting strong first-quarter revenue results.

    British American Tobacco (LSE:BATS) also traded lower after announcing the appointment of Dragos Constantinescu as its new chief financial officer.

    Meanwhile, shares of London Stock Exchange Group (LSE:LSEG) moved higher after the company unveiled a share buyback program worth up to £900 million.

  • U.S. stock futures slip as markets await Iran ceasefire talks in Pakistan: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. stock futures slip as markets await Iran ceasefire talks in Pakistan: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. stock index futures edged lower in early trading Thursday as investors assessed whether the tentative two-week ceasefire in the Iran conflict will hold, following signs of strain in the fragile agreement.

    The modest decline comes after a powerful rally on Wall Street in the previous session, when the Dow recorded its strongest daily gain in a year after Washington and Tehran indicated they had agreed to pause hostilities for two weeks.

    However, disagreements over Lebanon’s role in the ceasefire have emerged, with Iran accusing Israel of breaching the agreement through continued strikes in the country.

    Despite the ongoing attacks, Iranian negotiators are expected to arrive in Islamabad later today for “serious talks” with U.S. officials, with discussions tentatively scheduled for Saturday morning.

    Adding to the uncertainty, U.S. President Donald Trump said Wednesday evening that American military forces would remain positioned around Iran until a “real agreement” is secured, repeating his demands that Tehran halt its nuclear activities and reopen the Strait of Hormuz.

    By 05:52 ET, S&P 500 Futures were down 0.3% at 6,782.81 points. Nasdaq 100 Futures also fell 0.3% to 25,002.0 points, while Dow Jones Futures declined 0.4% to 47,909.9 points.

    “Since the [S&P 500] was struggling with 6900-7000 even before the war, that range is going to be even stronger resistance now,” Vital Knowledge analyst Adam Crisafulli said in a morning note.

    Iran accuses U.S., Israel of ceasefire violations

    Although the United States and Iran initially signaled willingness to observe a two-week ceasefire, Tehran on Wednesday accused both Washington and Israel of breaching several points of its proposed 10-point peace plan.

    One of the key disputes involves Israel’s continued strikes in Lebanon, which Iran says were supposed to fall under the ceasefire terms. The White House, however, has indicated Lebanon was not included in the agreement, while Israel has said its campaign against Hezbollah forces will continue.

    Iranian officials warned it would be “unreasonable” to proceed with peace negotiations with the United States unless Lebanon is included in the arrangement. Reports also indicated that Iran closed the Strait of Hormuz in response to Israeli operations, after earlier suggesting that shipping would continue during the two-week ceasefire.

    Officials from Washington and Tehran are expected to begin talks in Pakistan later this week, although the precise agenda remains unclear. Iran has also largely rejected U.S. demands that it halt uranium enrichment and surrender its uranium stockpile.

    Oil prices, which initially fell on news of the ceasefire, recovered some of their losses Wednesday evening.

    Wall Street jumps on ceasefire optimism

    U.S. equity markets posted strong gains Wednesday after the ceasefire announcement raised hopes that nearly six weeks of conflict in the Middle East could begin to ease.

    The S&P 500 rose 2.5% to 6,782.96 points, while the Dow Jones Industrial Average surged 2.9% to 47,909.92 points, marking its best daily performance in a year. The NASDAQ Composite climbed 2.8% to 22,635.0 points, with technology shares recovering further from the steep losses seen in March.

    Semiconductor stocks led the rally, with the Philadelphia Semiconductor Index jumping more than 6% as shares of Micron Technology Inc (NASDAQ:MU), NVIDIA Corporation (NASDAQ:NVDA), and Intel Corporation (NASDAQ:INTC) advanced. The sector also received a boost after memory chip giant Samsung Electronics Co Ltd (USOTC:SSNHZ) projected strong first-quarter earnings.

    Beyond the developments in the Iran conflict, investors also reviewed the minutes from the Federal Reserve’s March policy meeting, released Wednesday. The document showed policymakers increasingly concerned about rising oil prices and the potential impact on inflation and interest rates in the months ahead.

  • Unlocking Dual Value: How One Asset Could Deliver Two Critical Mineral Projects

    Unlocking Dual Value: How One Asset Could Deliver Two Critical Mineral Projects

    What if a single mining project could effectively become two, targeting different critical minerals, operating on different timelines, and potentially doubling the value extracted from the same asset? This is precisely the strategy being pursued at the Monte Muambe project by Cedric Simonet, CEO of Altona Rare Earths Plc (LSE:REE).

    At the heart of this approach is a geological advantage. Monte Muambe is structured in a way that naturally separates its mineral potential: rare earth elements are concentrated in the central carbonatite intrusion, while fluorspar and gallium are located around the periphery. Rather than treating this as a single, unified development, Altona is advancing it as two distinct projects within the same 25-year mining concession.

    Two Projects, One License

    The rare earths project is already well-defined, with a resource estimate of 13.6 million tonnes at 2.42% total rare earth oxides. Meanwhile, a mineral resource estimate for fluorspar and gallium is currently in preparation following an extensive drilling campaign.

    Each project comes with its own development dynamics. By separating them, Altona gains flexibility, allowing for different timelines, funding strategies, and routes to market. This dual-pathway model creates multiple opportunities to unlock value from the same underlying asset.

    Fast-Tracking Fluorspar

    The fluorspar component stands out for its near-term production potential. High-grade material identified at surface significantly reduces the complexity typically associated with mine development. In late 2025, the company completed 74 drill holes totalling approximately 3,400 metres to support the upcoming resource estimate.

    Metallurgical testing is already underway to refine processing parameters, and the company is targeting a production capacity of 50,000 tonnes per year of acid-grade fluorspar, a critical mineral used in a range of industrial applications.

    Altona’s timeline is ambitious but clear:

    • Complete a Definitive Feasibility Study (DFS) by the end of the year
    • Reach a Final Investment Decision shortly thereafter
    • Begin construction in 2027

    In parallel, gallium, an increasingly strategic metal used in electronics and semiconductors, is showing promising assay results. The company is now evaluating its recovery as a byproduct of fluorspar production, which could further enhance project economics.

    Long-Term Upside in Rare Earths

    While fluorspar offers near-term cash flow potential, the rare earths project represents longer-term strategic value. This side of the development recently received a significant boost through a $1.875 million grant from the United States Trade and Development Agency (USTDA).

    Importantly, this funding is non-dilutive, meaning it does not require issuing additional shares. It will be used to advance metallurgical and process engineering work as part of a pre-feasibility study.

    This support plays a crucial role in de-risking the project. It enables:

    • More advanced technical studies
    • Improved process design
    • Updated economic modelling
    • A clearer pathway toward production

    Fieldwork is expected to begin in the second quarter, with outcomes feeding into a revised techno-economic model and asset valuation. The involvement of the U.S. government also signals growing strategic interest, particularly in securing supply chains for critical minerals.

    A Compelling Investment Narrative

    What makes Monte Muambe particularly compelling is its layered value proposition. Investors are not relying on a single commodity or timeline. Instead, they are exposed to:

    • Near-term development potential through fluorspar
    • Additional upside from gallium recovery
    • Long-term strategic value in rare earth elements
    • Non-dilutive funding support reducing financial risk

    This multi-stream approach not only diversifies risk but also creates multiple catalysts for value creation over time.

    Conclusion

    Altona Rare Earths Plc is demonstrating how thoughtful project structuring can transform a single asset into a dual-engine growth strategy. By separating and sequencing development across different minerals, the company is positioning itself to deliver both short-term returns and long-term strategic value.

    In an environment where demand for critical minerals continues to rise, this kind of flexible, multi-commodity approach could prove to be a powerful model for future resource development.

    For more information on Altona Rare Earths Plc visit https://altonare.com/

  • Gold holds steady as markets assess Iran ceasefire tensions; focus turns to U.S. CPI

    Gold holds steady as markets assess Iran ceasefire tensions; focus turns to U.S. CPI

    Gold prices showed little change in European trading on Thursday after modest gains in the prior session, as investors monitored renewed tensions in the Middle East that could threaten the fragile ceasefire between the United States and Iran.

    At 05:30 ET (09:30 GMT), spot gold edged up 0.2% to $4,730.24 per ounce, while June U.S. gold futures slipped 0.4% to $4,756.09 per ounce.

    The precious metal finished Wednesday 0.3% higher after earlier rising as much as 3%. The move came after a temporary ceasefire between Washington and Tehran helped ease immediate fears of a supply shock, though it failed to fully reassure financial markets.

    Continued Middle East conflict raises questions over ceasefire

    The truce, reportedly mediated by Pakistan, is intended to pause hostilities for two weeks and allow the reopening of the strategically vital Strait of Hormuz.

    Nevertheless, investor sentiment remained guarded as Israeli airstrikes in Lebanon continued, raising doubts about the durability of the ceasefire. Iran also warned that negotiations with the United States would be “unreasonable” under the current circumstances.

    Tehran has halted the movement of oil tankers through the Strait of Hormuz, while U.S. President Donald Trump said American military forces would remain stationed around Iran until a “real agreement” is secured.

    Oil prices posted a modest recovery on Thursday after falling sharply in the previous session following the ceasefire announcement.

    “Conflicting geopolitical signals are driving choppy price action in gold, with safe haven demand offset by shifts in risk sentiment and dollar moves,” ING analysts said in a note.

    “Looking ahead, gold is likely to remain headline driven in the near term, with further clarity on the durability and scope of the ceasefire key for determining whether prices can regain upside momentum,” they added.

    Markets look to U.S. inflation data for Fed guidance

    Gold, widely regarded as a safe-haven asset, has recently come under pressure as the rebound in oil prices fueled concerns about global inflation.

    Investors are now awaiting the release of the U.S. consumer price index (CPI) for March on Friday, which could provide additional insight into inflation trends and the Federal Reserve’s future interest rate strategy.

    Markets are preparing for a noticeable increase, as higher energy costs linked to the recent oil shock continue to filter through the broader economy.

    Meanwhile, the U.S. dollar steadied after falling 0.7% in the previous session, limiting further gains in gold.

    Among other precious metals, spot silver was unchanged at $74.10 per ounce, while platinum slipped 0.5% to $2,021.59 per ounce.

    In base metals trading, benchmark copper futures on the London Metal Exchange declined 0.6% to $12,625.33 per ton, while U.S. copper futures fell 1.3% to $5.70 per pound.

  • Oil rises as Lebanon conflict strains ceasefire and Hormuz shipping remains disrupted

    Oil rises as Lebanon conflict strains ceasefire and Hormuz shipping remains disrupted

    Oil prices advanced on Thursday after posting their sharpest one-day fall since April 2020, as continued disruptions in the Strait of Hormuz and escalating geopolitical tensions in the Middle East revived concerns about global supply.

    By 05:22 ET (09:22 GMT), Brent crude futures for June delivery were up 2.8% at $97.68 per barrel. U.S. West Texas Intermediate (WTI) futures climbed 3.3% to $97.50 per barrel.

    Both major benchmarks had plunged more than 13% the previous day after U.S. President Donald Trump announced a temporary ceasefire agreement with Iran.

    Lebanon airstrikes cast doubt on ceasefire

    Israeli airstrikes in Lebanon intensified on Wednesday, even after President Trump declared a two-week ceasefire between the United States and Iran on Tuesday.

    The ongoing military action has highlighted differing interpretations of the truce, with Israel suggesting its campaign against Hezbollah falls outside the terms of the ceasefire.

    Iran responded with a tougher stance, stating that peace negotiations with Washington would be “unreasonable” under the current circumstances and accusing Israel of breaching the ceasefire.

    Meanwhile, Iran halted the movement of oil tankers through the Strait of Hormuz, preventing any immediate recovery in global oil transport.

    “With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind,” ING analysts said in a note.

    Oil prices had plunged on Wednesday after President Trump announced the ceasefire and said Washington would help restore shipping flows around the strategic waterway.

    U.S. crude inventories hit highest level in nearly three years – EIA

    Figures from the U.S. Energy Information Administration showed crude oil inventories increased by 3.1 million barrels to 464.7 million barrels in the week ending April 3. The total marked the highest level in almost three years and ran counter to expectations for a decline of roughly 1.0 million barrels.

    Fuel stockpiles moved lower, however. Distillate inventories — including diesel and heating oil — fell by 3.1 million barrels due to strong export demand, while gasoline inventories declined by 1.6 million barrels.