Category: Market News

Shares of UK-listed betting companies fell on Tuesday after Finance Minister Rachel Reeves indicated that gambling operators could face increased taxation.

Speaking to ITV News on Monday, Reeves said there is “a case for gambling companies to pay more taxes,” sparking concern among investors in the sector.

The comments follow a recent push from over 100 Labour MPs who earlier this month called for higher taxes on gambling businesses. Lawmakers cited the UK’s comparatively lower gambling tax rates as justification for a hike.

Among the hardest-hit stocks, Evoke (LSE:EVOK) fell 1.5% as of 09:07 GMT, making it one of the biggest decliners on London’s small-cap index, which was down 0.09%. Other gambling operators also traded lower, with Entain (LSE:ENT) slipping 1.08% and Flutter (LSE:FLTR) down 0.5%.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

3i Infrastructure PLC (LSE:3IN) reported first-half returns that exceeded expectations on Tuesday, driven by robust performance from its largest holding, TCR, which helped push the stock higher.

The firm indicated it is on track to surpass its target return for the period ending September 29 and to achieve its full-year dividend goal of 13.45p, fully covered by net income.

In a pre-close update, management highlighted that the company “maintains a disciplined approach to pricing despite an active asset pipeline.” Proceeds from the next asset sale are earmarked to reduce part of its £900 million revolving credit facility, of which £360 million is currently drawn.

3i Infrastructure also reported a cash balance of £13 million and total income and non-income cash of £122 million, representing an 18% increase compared with the same period last year.

TCR exceeded the projections set in March 2025, benefiting from higher rental margins and cost efficiencies. Infinis also outperformed expectations, supported by progress in its development pipeline.

FLAG reported strong demand for subsea fibre connectivity, driven by hyperscaler growth and AI workloads, while ESVAGT maintained a solid pipeline despite vessel delivery delays caused by shipyard operational issues. Management noted that recovery for SRL “remains slow.”

“A strong headline from 3IN with the company ahead of guidance for H1, whilst also indicating a further realisation is expected. We continue to expect strong demand for 3IN assets and therefore expect a good premium on any realisation,“ said analysts at RBC Capital Markets in a note.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Shares of UK-based payments firm PayPoint (LSE:PAY) climbed roughly 8% on Tuesday, leading gains on London’s mid-cap index.

The rally followed the announcement that International Distribution Services (IDS), the parent company of Royal Mail, is investing £43.9 million in PayPoint’s Collect+ business.

Under the deal, IDS acquires a 49% stake in Collect+, valuing the unit at £90 million.

In connection with the transaction, PayPoint declared a special dividend of 50 pence per share for its shareholders.

The company also anticipates that the investment will bolster earnings per share in the first full fiscal year ending March 2027.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Boeing Co (NYSE:BA) is moving forward with early plans for a new single-aisle aircraft designed to succeed the 737 MAX, in an effort to regain competitiveness against Airbus (EU:AIR), the Wall Street Journal reported Monday, citing sources familiar with the discussions.

The report notes that CEO Kelly Ortberg held talks earlier this year with Rolls-Royce Holdings PLC (LSE:RR.) in the U.K. to explore potential engine options for the future jet.

Boeing has also begun drafting designs for the flight deck of the next-generation narrow-body aircraft and appointed a senior product executive with prior experience in aircraft development, according to the Journal.

The initiative is still in its infancy, and Ortberg has yet to provide public details. He has emphasized that Boeing’s immediate focus remains on resolving quality issues, delivering its roughly 6,000-plane backlog, and shoring up the company’s financial position.

Developing a completely new “clean-sheet” airplane is expected to take more than ten years and require tens of billions of dollars in investment. Rolls-Royce has suggested an engine capable of increasing fuel efficiency by up to 20%, the report added.

Boeing has faced significant hurdles in recent years, including two fatal 737 MAX crashes in 2019 that led to a fleet grounding and delayed variant launches. The company also abandoned plans for a midsize jet and continues to lag on the 777 upgrade program.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

A.G. Barr Plc (LSE:BAG) reported a 20.1% increase in adjusted pre-tax profit for the first half of the year, driven by improved margins and robust demand for its Boost brand.

For the 26 weeks ending July 26, the Scottish soft drinks producer posted an adjusted pre-tax profit of £35.2 million, up from £29.3 million a year earlier. Adjusted operating margins expanded to 15% from 13%, while revenue grew 3.1% to £228.1 million compared with £221.3 million in the same period in 2024.

Statutory profit before tax rose to £35.2 million from £24.9 million, and statutory basic earnings per share increased to 24.90p from 16.88p. The board declared an interim dividend of 3.44p per share, up 11% from 3.10p, payable on November 7 to shareholders registered by October 10.

The company said growth was largely driven by its soft drinks portfolio, which recorded a 3.3% sales increase. Boost achieved double-digit revenue growth, mainly via wholesale channels.

IRN-BRU sales remained stable year-on-year, with new marketing campaigns and a limited-edition flavor planned for H2. Rubicon posted modest gains after launching Rubicon Spring Vits, while cocktail solutions revenue declined 5.2% to £20 million. Other revenue rose 26.8% to £7.1 million.

During the period, A.G. Barr acquired a 50.1% stake in functional drinks business Innate-Essence Ltd and completed the sale of the Strathmore water brand.

The company ended the period with net cash at £41.3 million, compared with £43.7 million last year, reflecting the acquisition. Net cash generated from operating activities increased to £15.7 million from £13 million a year earlier.

Chairman Mark Allen and CEO Euan Sutherland said the company entered H2 with strong momentum, supported by marketing initiatives and product innovation. They reaffirmed full-year profit guidance.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities dipped on Tuesday as investors weighed the potential effects on global growth from newly imposed U.S. tariffs and the looming risk of a federal government shutdown.

At 07:02 GMT, Germany’s DAX fell 0.2%, France’s CAC 40 also declined 0.2%, while the U.K.’s FTSE 100 inched up 0.1%.

New U.S. Tariffs

On Monday evening, U.S. President Donald Trump announced tariffs on imports of lumber, furniture, and kitchen fittings, effective October 14, according to the official proclamation. The measures include a 10% duty on softwood lumber and timber, a 25% levy on kitchen cabinets and vanities, and a 25% tariff on upholstered wooden products.

Last week, Trump also introduced a 100% tariff on pharmaceutical imports, part of his broader plan to encourage domestic production and reduce reliance on foreign goods.

Economic data from Asia highlighted the ripple effects of trade uncertainty. China’s manufacturing activity contracted for a sixth consecutive month in September, while Japanese factory output dropped more than expected in August.

In Europe, German import prices fell 1.5% year-on-year in August. Meanwhile, the U.K. economy grew 0.3% in Q2 2025, in line with preliminary estimates but down from 0.7% in the previous quarter, according to the Office for National Statistics.

U.S. Government Shutdown Risks

Attention remains on Washington as a potential government shutdown nears. Monday’s White House meeting between Trump and top congressional leaders failed to yield an agreement.

A shutdown could delay the release of critical nonfarm payrolls data for September, scheduled for Friday, which is closely watched for indications on future Federal Reserve policy moves. Today’s JOLTS report is also under scrutiny as investors seek clues on the likelihood of further rate cuts this year.

Corporate Moves

Danish jewellery maker Pandora (USOTC:PANDY) announced that CEO Alexander Lacik will retire in March 2026, with Chief Marketing Officer Berta de Pablos-Barbier set to take over.

Scottish soft drinks company A.G. Barr (LSE:BAG) reported a first-half adjusted pre-tax profit increase of just over 20%, boosted by margin improvements and strong demand for its Boost brand.

Oil Markets

Crude prices slipped on Tuesday, heading toward monthly losses amid reports that major producers are planning to boost output in November, raising concerns over excess supply.

By 03:02 ET, Brent futures fell 0.5% to $66.76 a barrel, while U.S. WTI futures dropped 0.4% to $63.20 a barrel. Both benchmarks had already fallen more than 3% on Monday and remain on track for monthly declines exceeding 1%.

OPEC+—the Organization of the Petroleum Exporting Countries and allies including Russia—is reportedly considering an additional production increase of at least 137,000 barrels per day in November. The group will meet virtually on October 5 to discuss the plan, following a similar production rise already scheduled for October as the alliance transitions from deep cuts to measured growth to defend market share.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices slipped on Tuesday amid expectations of further production increases from OPEC+ and the restart of crude exports from Iraq’s Kurdistan region via Turkey, heightening worries over a potential supply glut.

Brent crude futures for November delivery, expiring on Tuesday, dropped 28 cents, or 0.4%, to $67.69 a barrel by 06:30 GMT. The December contract, which is more actively traded, declined 33 cents, or 0.5%, to $66.76 a barrel.

U.S. West Texas Intermediate (WTI) crude was down 29 cents, or 0.5%, at $63.16 a barrel. These declines followed Monday’s losses, when Brent and WTI both fell more than 3% in their largest daily drop since August 1.

The price retreat comes as Iraq’s Kurdistan region resumed crude shipments over the weekend, and reports suggest OPEC+ may approve an additional production increase for November at its upcoming meeting, IG analyst Tony Sycamore noted in a client briefing.

Three sources familiar with the discussions indicated that OPEC+—the coalition of the Organization of the Petroleum Exporting Countries and allies including Russia—is expected to greenlight a production boost of at least 137,000 barrels per day in its Sunday session.

“Although (OPEC+ is) under their quota anyway, the market still does not seem to like the fact that more oil is coming in,” Marex analyst Ed Meir said.

Meanwhile, crude began flowing on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in two and a half years, following an interim deal that broke a long-standing deadlock, Iraq’s oil ministry reported.

Markets have been navigating a mix of supply risks, primarily stemming from Ukrainian drone attacks on Russian refineries, against concerns of oversupply and subdued demand.

Adding to bearish pressures, the looming risk of a U.S. government shutdown has fueled worries over energy demand, ANZ analysts noted in a Tuesday report. A shutdown could interrupt a wide range of government services and delay key economic data releases, including the Friday payrolls report, which is closely monitored by Federal Reserve policymakers.

Elsewhere on the geopolitical front, U.S. President Donald Trump secured Israeli Prime Minister Netanyahu’s support for a U.S.-backed Gaza peace initiative, though Hamas’s position remains uncertain.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices reached fresh all-time highs during Asian trading on Tuesday, extending a strong rally that has persisted over the past week as investors grew increasingly concerned about a potential U.S. government shutdown.

Expectations for further interest rate cuts by the Federal Reserve also lent support to precious metals, though silver and platinum eased slightly after a strong session on Monday. Copper prices, meanwhile, pulled back modestly.

Spot gold climbed to a record $3,865.73 per ounce, while gold futures topped $3,893.72 an ounce. The yellow metal has gained roughly 17% in the third quarter, reflecting robust safe-haven demand amid multiple market pressures.

Safe-Haven Buying Rises Amid Shutdown Risk

Gold demand has been bolstered by fears that U.S. lawmakers may fail to prevent a government shutdown. Congress has until midnight on September 30 (0400 GMT Wednesday) to pass a spending bill and keep hundreds of federal operations running.

A Republican-backed bill recently cleared the House of Representatives but is encountering resistance in the Senate. Although Republicans hold a 53-seat majority, at least 60 votes are needed to approve the measure.

Efforts to resolve the impasse in a bipartisan meeting with President Donald Trump on Monday failed to produce a breakthrough. Disagreements over healthcare and social welfare funding remain at the center of the stalemate.

A government shutdown typically disrupts economic activity, posing potential risks to growth. Analysts also warn that a closure could delay the release of the closely watched nonfarm payrolls report for September, due Friday. The White House has cautioned that thousands of federal jobs could be cut if a shutdown occurs, potentially adding strain to the labor market.

Metals Strong in Q3 Amid Rate Cut Bets

Beyond gold, other metals eased slightly on Tuesday but remain on track for solid third-quarter gains, supported by optimism over lower U.S. interest rates.

The Federal Reserve cut rates by 25 basis points earlier this month and indicated the possibility of up to two more reductions in 2025, though these depend on inflation trends and labor market conditions. Fed officials offered cautious commentary over the past week, yet markets continue to expect at least one additional 25 basis point cut in October, according to CME FedWatch data.

The prospect of lower rates weighed on the dollar and provided a boost to metals, with precious metals outperforming. Spot platinum is set to gain nearly 18% in Q3, while spot silver trades 30% higher, with both metals reaching more-than-decade highs on Monday.

Industrial metals also posted strong quarterly performance. London Metal Exchange copper futures steadied at $10,418.60 per ton, up 5% in Q3, while COMEX copper hovered near $4.90 per pound, marking an 11.4% gain for the quarter.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. equity futures edged lower on Tuesday, with attention squarely on Washington as lawmakers scramble to strike a deal before a potential federal government shutdown. A Monday meeting between Republican and Democratic leaders and President Donald Trump ended without progress, leaving investors wary. The uncertainty has pushed gold prices to fresh record highs and sparked concerns that key economic data could be delayed. At the same time, Trump unveiled a new set of tariffs, while Nike (NYSE:NKE) is due to release its quarterly earnings after markets close.

Futures Under Pressure

By 03:33 ET, Dow futures were down 79 points (0.2%), S&P 500 futures had slipped 10 points (0.1%), and Nasdaq 100 futures had fallen 37 points (0.1%).

This pullback follows a modest advance on Wall Street Monday, supported by falling Treasury yields, which eased by 1–3 basis points across the curve. Rate cut expectations from the Federal Reserve and investor enthusiasm around artificial intelligence helped steady sentiment, even against the backdrop of political gridlock.

Among individual movers, Lam Research rose after an analyst upgrade from Deutsche Bank, while AppLovin hit a record high following a bullish revision from Morgan Stanley.

Government Shutdown Concerns

Congress faces a fast-approaching deadline to pass a short-term funding bill and avoid a shutdown. The House of Representatives recently approved a Republican-backed proposal, but the bill is running into opposition in the Senate. While Republicans control 53 seats, at least 60 votes are needed for passage.

Talks on Monday ended in stalemate, with both parties trading blame. Republicans accused Democrats of holding the government “hostage,” while Democrats, pressing for an extension of health care subsidies in return for their support, argued that failure to reach a deal could jeopardize coverage for millions.

After the meeting, Vice President JD Vance remarked that he believed the government is “heading for a shutdown.”

Economists warn that a closure could delay Friday’s scheduled release of the closely watched nonfarm payrolls report. Still, investors will get a fresh look at labor market conditions later Tuesday with new data on job openings.

Gold Hits New Record

Safe-haven demand lifted gold to all-time highs as traders braced for political gridlock and its potential impact on growth. Spot gold rose 0.5% to $3,851.46 per ounce by 03:37 ET, while futures gained 0.7% to $3,880.70. The metal is on track for a roughly 17% gain in the third quarter.

Other metals were less buoyant, with silver and platinum easing after sharp rallies in the prior session. Copper prices also edged lower.

Trump Unveils Tariffs

Adding to market jitters, Trump announced a new round of tariffs targeting lumber, furniture, and kitchen fittings, citing the need to boost domestic production.

On Monday, the president confirmed a 10% tariff on softwood lumber and timber, a 25% levy on kitchen cabinets and vanities, and a 25% duty on upholstered wooden products. The measures, set to take effect October 14, stem from a Commerce Department probe into imports that Trump initiated earlier this year.

Nike Results in Focus

Later Tuesday, Nike is set to deliver its fiscal first-quarter earnings report, with investors looking for signs of progress under CEO Elliott Hill. Hill, who returned to lead the company last October, has been tasked with reviving growth and repairing retailer relationships after a period of weak sales and strategic missteps.

Revenue is expected to decline in the mid-single digits, though Nike has emphasized fresh investment in running and sneaker lines to reignite demand. CFO Matthew Friend cautioned in March that it may take “several quarters” to work through excess inventory, potentially requiring deep discounts. Nike has also pledged to reduce reliance on Chinese production to mitigate exposure to tariffs.

Still, there are early signs of recovery. Executives at JD Sports (LSE:JD.), a major Nike retail partner, recently commented that the brand is doing “all the right things in terms of resetting” its strategy.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

KEFI Gold and Copper PLC (LSE:KEFI) has reported substantial progress on its Tulu Kapi Gold Project in Ethiopia, with plans to begin full-scale development in October 2025. The project is backed by a US$340 million financing package, comprising US$240 million in debt and US$100 million in equity risk capital, supported by both local and regional investors.

In Saudi Arabia, KEFI has significantly upgraded mineral resource estimates for its Hawiah and Jibal Qutman projects, highlighting strong potential for future development. These advances reinforce KEFI’s position as a prominent player in the gold and copper mining sectors in Ethiopia and Saudi Arabia, with expected increases in production and positive economic impact for the regions.

About KEFI Gold and Copper PLC

KEFI Gold and Copper PLC is a gold exploration and development company with a focus on projects in Ethiopia and Saudi Arabia. Its key assets include the Tulu Kapi Gold Project in Ethiopia and multiple mineral resource projects in Saudi Arabia, with a focus on advancing gold and copper resources toward production.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.