Category: Market News

Atlantic Lithium (LSE:ALL) released its audited financial results for the year ended 30 June 2026 alongside an update on the proposed all-cash takeover by Zhejiang Huayou Cobalt.

The company’s board has unanimously recommended that shareholders support the proposed scheme, under which Huayou would acquire all Atlantic Lithium shares. Shareholder votes are expected in November, with implementation targeted for December, subject to regulatory and court approvals.

During the financial year, Ghana’s parliament ratified the mining lease for the Ewoyaa Lithium Project, approving development of the proposed mine and processing plant. The updated terms include royalties aligned with new national regulations.

Atlantic Lithium also secured access to multiple funding lines during the period and continued exploration activities in Côte d’Ivoire.

The company appointed Andrew Watt as an alternate director during the year.

More about Atlantic Lithium

Atlantic Lithium Limited is an Africa-focused lithium exploration and development company listed on AIM, ASX and the Ghana Stock Exchange.

The company’s principal asset is the Ewoyaa Lithium Project in Ghana, where it plans to develop a lithium mine and processing plant.

Integrated Diagnostics Holdings (LSE:IDHC) reported revenue of EGP 4.9 billion for the first half of 2026, an increase of 37% from the prior-year period, as test volumes rose 20% and revenue per test increased 14%.

Gross profit increased 41%, while EBITDA rose 38% and net profit was 47% higher. The company attributed the performance to higher operating leverage, procurement efficiencies and cost management, alongside continued investment in new branches and specialised services.

Second-quarter revenue increased 42% year on year, while EBITDA rose 50%. The company said the quarterly performance reflected demand across its core markets and higher utilisation in both contract and walk-in patient segments.

IDH expanded its network to 839 branches during the period. The group opted not to pay an additional dividend, saying it had decided to retain cash because of geopolitical uncertainty and planned expansion projects.

Founding shareholder vehicle Hena Holdings increased its ownership of IDH to 56.67%, leaving 43.33% of the company’s shares in public hands.

The company ended the first half with a positive net cash position. IDH said operating cash generation and working capital management supported its liquidity while capital expenditure requirements increased.

The group is retaining balance-sheet flexibility and US dollar liquidity as it continues investment across its diagnostics and radiology operations.

More about Integrated Diagnostics Holdings

Integrated Diagnostics Holdings is a London-listed medical diagnostics provider operating across Egypt, Jordan, Nigeria, Saudi Arabia and Sudan. The group provides laboratory testing and radiology services to contract and walk-in patients through its branch network.

IDH has been expanding its branch presence, including in Egypt and Saudi Arabia, while investing in specialised services including radiology and Biolab KSA.

The Organization of the Petroleum Exporting Countries reduced its estimate for global oil demand growth in 2026 to 380,000 barrels per day in its latest monthly report.

The change represents OPEC’s fifth consecutive monthly reduction to its 2026 demand growth projection.

OPEC continues to forecast higher oil consumption than the International Energy Agency. The IEA expects global oil demand to decline in 2026, citing a greater impact from the Iran war on consumption patterns.

OPEC’s report also raised the producer group’s forecast for global oil demand growth in 2027.

The European Central Bank raised its deposit rate by 25 basis points to 2.50% on Thursday, as higher energy prices linked to the Middle East conflict continued to affect the inflation outlook.

Brent crude moved back above $100 a barrel this week following renewed attacks between the United States and Iran. The conflict, now in its seventh month, has restricted tanker traffic through the Strait of Hormuz, which handled roughly a fifth of global oil and liquefied natural gas flows before the war began in late February.

The Eurozone is a major energy importer, and regional gas prices have recently reached their highest levels since 2023.

The ECB had previously raised rates in June before leaving them unchanged in July.

In its latest statement, the ECB said the Middle East conflict “continues to generate inflation pressures,” adding that inflation is expected to remain above its 2% target “for an extended period.”

Capital Economics analysts, including Andrew Kenningham, described the statement as “somewhat hawkish” and said they now “think one more hike is likely” in 2026. Markets were also pricing in another rate increase by this time next year and a 40% probability of an additional increase.

ECB Raises 2027 and 2028 Inflation Forecasts

Updated ECB staff projections showed headline inflation averaging 3.0% this year. The central bank raised its forecasts for 2027 and 2028 to 2.5% and 2.1%, respectively.

Speaking at a press conference following the decision, ECB President Christine Lagarde said the “energy shock” resulting from the Iran war could intensify further and that secondary effects on other prices and wages could be greater than previously anticipated.

Lagarde nevertheless described the Eurozone economy as “resilient,” pointing to the labour market and a recovery in the services sector. She said the economy’s resilience was expected to continue into the third quarter.

Following the decision, Germany’s benchmark 10-year government bond yield traded around its highest level since the Eurozone economic crisis in 2011, while France’s 10-year yield remained around its highest level since 2008.

U.S. equity futures pointed lower on Thursday as crude oil prices extended their recent increase and producer price data showed annual inflation accelerating in August.

U.S. crude futures climbed nearly 5% after rising more than 3% in the previous session, taking prices above $100 a barrel. Brent crude also moved above the $100 level on Wednesday for the first time since July.

The increase in oil prices followed further exchanges between U.S. and Iranian forces. President Donald Trump indicated that the conflict could continue beyond November’s midterm elections.

Separately, the Wall Street Journal reported, citing U.S. officials, that White House advisers had discussed with Trump the possibility that the conflict could continue through the remainder of his presidential term.

Producer Price Inflation Accelerates to 5.4%

U.S. stock futures extended their declines following the release of August producer price data.

The Labor Department said its producer price index for final demand increased 0.4% month on month after a revised 0.1% rise in July. The August increase matched economists’ expectations.

Annual producer price inflation accelerated to 5.4% from 4.8%, exceeding the 5.3% forecast.

The data comes ahead of the Federal Reserve’s monetary policy meeting next week, with investors assessing the implications of higher energy prices and inflation data for interest rates.

“Brent crude pushing above $100 a barrel has had a psychological effect on the market, pushing a hypothetical inflation worry gauge to ‘serious’ status and dragging down financial assets,” said Dan Coatsworth, head of markets at AJ Bell.

“The oil price has now jumped by 28% since early August,” he added. “This type of ascent could leave businesses and consumers feeling sick at the thought of sharp cost increases and potentially higher borrowing costs if central banks choose to fight inflation with interest rate hikes.”

U.S. Indices Close Lower for Third Session

Wall Street’s major indices declined for a third consecutive session on Wednesday, with the Dow closing at its lowest level in more than a month.

The Dow fell 0.8% to 52,380.66, the Nasdaq declined 0.6% to 26,253.34 and the S&P 500 lost 0.5% to 7,636.36.

Retail and networking stocks recorded larger declines, while telecom, housing and transportation shares also moved lower. Oil and gold stocks advanced alongside their respective commodity prices.

TotalEnergies (LSE:TTE) announced an oil discovery in Angola and said it has signed agreements to acquire a 40% operated interest in two exploration blocks in the country.

The French energy company said the Acacia-5 discovery, made in June 2026, is expected to add 6,000 barrels per day of production from Block 17.

TotalEnergies expects the fast-track development to begin producing oil within three months of the discovery.

TotalEnergies Agrees 40% Interests in Exploration Blocks

The company also signed agreements with Angola’s petroleum regulator, Agência Nacional de Petróleo, Gás e Biocombustíveis, to enter Blocks 17/25 and 32/21 in the Lower Congo Basin.

Under the agreements, TotalEnergies will hold a 40% operated interest in each exploration block.

Chief Executive Patrick Pouyanne said Wednesday that TotalEnergies and its partners plan to invest $10 billion in Angola over the next five years.

Genus (LSE:GNS) shares fell more than 7% on Thursday after the animal genetics company reported higher annual profit and announced a £60 million share buyback, while forecasting moderate operating profit growth for fiscal 2027.

For the year ended June 30, adjusted profit before tax increased 35% to £100.2 million from £74.3 million, while adjusted earnings per share rose 35% to 110.3 pence from 81.8 pence.

Group revenue declined 2% to £658.1 million from £672.8 million, which Genus attributed to the deconsolidation of PIC China following its transfer into a joint venture with Beijing Capital Agribusiness.

Adjusted operating profit increased 17% to £94.8 million, while free cash flow rose 52% to £62.0 million. The company received £98 million of net cash proceeds from the sale of a 51% interest in PIC China into the joint venture, and year-end leverage declined to 0.4 times from 1.5 times.

Genus Announces £60 Million Share Buyback

The board proposed a final dividend of 24.0 pence per share, an increase of 11%. The full-year dividend increased 10%, representing its first increase in five years, with a payout equivalent to 32% of adjusted earnings per share.

Genus also announced a £60 million share buyback programme that it expects to complete during fiscal 2027.

For the new financial year, the company expects moderate operating profit growth at both Genus PIC and Genus ABS.

Adjusted profit before tax is expected to be weighted towards the second half, reflecting disease-related issues affecting North American pork production during the first half, low pork prices in Brazil and subdued global dairy prices.

Stifel Maintains Hold Rating

Stifel analysts said adjusted profit before tax of £100.2 million exceeded their £98 million estimate following the July trading update. Adjusted EPS of 110.3 pence was below the brokerage’s consensus estimate of 110.9 pence.

Stifel said the £60 million buyback provides “fair recognition of progress and the PIC China JV ’windfall,’” but added that “market conditions in FY27 appear more challenging, reflected in the c.3% growth outlook, while the lack of clarity around PRP key market timings is understandable but frustrating.”

Based on Genus trading at approximately 22 times earnings and 12 times EV/EBITDA, Stifel said it sees “a stock broadly up with events” and reiterated its “hold” rating.

Gold moved higher on Thursday as a weaker U.S. dollar provided support ahead of inflation figures that could influence market expectations for the Federal Reserve’s next interest-rate decision.

At 02:40 ET (06:40 GMT), spot gold, or XAU/USD, rose 0.4% to $4,418.87 an ounce. Gold futures gained 0.03% to $4,461.82.

Among other precious metals, silver, or XAG/USD, advanced 0.5% to $67.62 an ounce, while platinum, or XPT/USD, fell 0.6% to $1,889.34. The U.S. Dollar Index edged down to 98.74.

The move in gold came as markets continued to assess higher U.S. Treasury yields and developments in the Middle East.

Gold Trades Around $4,400 After July Recovery

Gold has traded around the $4,400 level in recent weeks, having recovered from levels near $4,000 in July.

U.S. 10-year Treasury yields increased after a government plan to purchase as much as $6 billion of longer-dated debt. Rising bond yields can increase the opportunity cost associated with holding gold because the metal does not generate interest income.

Oil prices also remained elevated, with Brent crude reaching $100 a barrel for the first time since July.

The supplied information said the conflict involving the U.S. and Iran had entered its seventh month. Iran has said it is prepared for a more intensive conflict if U.S. attacks on its territory and infrastructure continue.

Inflation Data Could Affect Fed Rate Expectations

Attention is now focused on the U.S. Producer Price Index scheduled for Thursday and the Consumer Price Index due on Friday.

The releases come ahead of the Federal Reserve’s next monetary policy meeting. Swaps markets were assigning an approximately 65% probability to an interest-rate increase this month, according to the supplied information.

Tony Sycamore, senior market analyst at IG, said gold ended the previous session at around $4,402, with the weaker U.S. dollar providing support even as bond yields increased.

Sycamore noted that the metal remained below its 200-day moving average of approximately $4,537. His technical assessment indicated that gold would need to move back above that level to signal an end to the decline from its $4,697 high and a resumption of the broader upward trend.

Technical analysis is an analyst’s interpretation of historical market data and does not establish how prices will move in the future.

Global Gold ETF Holdings Reach Record

Global gold-backed exchange-traded funds recorded $18 billion of inflows in August, their second-largest monthly inflow on record, according to the World Gold Council.

Holdings increased by 121 tonnes during the month to a record 4,189 tonnes. Assets under management rose 16% to $615 billion.

North American funds recorded their third-largest monthly inflow on record, while European-listed gold funds registered their largest monthly inflow, according to the World Gold Council.

Oil prices advanced on Thursday, with Brent crude trading above $100 a barrel as investors assessed the risk of additional supply disruptions following attacks on shipping involving the U.S. and Iran.

Brent crude futures rose 40 cents, or 0.4%, to $101.61 a barrel by 08:14 GMT, while U.S. West Texas Intermediate increased 49 cents, or 0.51%, to $96.54.

Brent has gained nearly 30% from lows recorded in early August. The U.S. and Iran did not reach a permanent agreement to halt attacks, with fighting resuming later that month.

“The recent run-up in prices lays bare the market’s approach: this conflict will last longer than anticipated even a month ago, let alone at the beginning of the summer. If oil supply and exports are diminished, the oil balance remains tight and prices remain elevated,” PVM analyst John Evans said.

Iran Reports Attacks on 10 Ships Near Strait of Hormuz

Iran said it attacked 10 ships near the Strait of Hormuz on Wednesday following the sinking of five Iranian oil tankers by the U.S.

Iran’s Islamic Revolutionary Guard Corps said it would escalate its response if further attacks occurred.

U.S. President Donald Trump, meanwhile, said Washington could strike Iran’s Pickaxe Mountain and urged Tehran to exercise caution. Trump also said the conflict would probably continue beyond the November U.S. midterm elections.

Oil flows through the Strait of Hormuz remain substantially below pre-war levels. Before the conflict, the waterway carried around one-fifth of global oil and gas supplies, according to the supplied information.

Shipping risks have also increased in the Red Sea, where Iran-aligned Houthi militants have stepped up attacks against Saudi Arabia.

Chinese Crude Purchases Increase

In the physical crude market, dated Brent has remained above $100 since September 3, according to LSEG data cited in the supplied information. The benchmark is used to price approximately two-thirds of global oil supply.

China has increased crude purchases in recent weeks following several months of lower demand, ING analysts said. China is the world’s largest crude oil importer.

ING said a continued recovery in Chinese buying could increase the price impact of supply disruptions. A reduction in Chinese imports, by contrast, could moderate upward pressure on the market, according to the analysts.

“For months the bearish case rested on soft Chinese demand as a reliable dampener. That dampener was never structural. It was a drawdown, a buffer being spent, and buffers empty,” said David Jorbenaze, global oil market lead at commodities information provider ICIS.

The future direction of crude prices remains subject to changes in supply and demand, including the extent of shipping disruptions and Chinese purchasing activity. Analyst forecasts and assessments cited in the article represent their respective views rather than established outcomes.