Category: Market News

GETB GetBusy (LSE:GETB) reported group annualised recurring revenue of £23.4 million for the four months ended 30 April 2026, representing an 11% increase year-on-year. The company said stronger adoption of artificial intelligence features across its software platforms helped drive the improved performance. Management added that the results support confidence in continued growth and reaffirmed its guidance for 2026, highlighting ongoing operational progress for investors and stakeholders.

SmartVault, which is now integrated with all leading US tax preparation software platforms, recorded ARR growth of 19% to $18.5 million alongside a 36% increase in new business activity. The company said this further establishes SmartVault as a key component within US tax workflows, supported by high switching costs and the scale of its document management infrastructure. Meanwhile, Workiro returned to growth following a renewed emphasis on professional services customers and an expanded collaboration with UK tax software provider TaxCalc. Continued migrations from the legacy Virtual Cabinet platform are also contributing to higher average revenue per user and lower churn, supporting GetBusy’s wider move toward AI-enabled cloud workflow products.

Management expects the upcoming launch of SmartProposals, together with additional SmartVault upgrades, to extend the platform’s role further into customer engagement and pricing functions. Alongside planned integration partnerships for Workiro across the UK and ANZ markets, the company believes these initiatives will strengthen GetBusy’s standing as a core infrastructure provider for tax and document workflow services, with AI increasingly positioned as a major driver of value creation across its platforms.

The company’s outlook is held down primarily by balance-sheet risk (negative equity) and volatile profitability despite strong gross margins. Improving cash flow provides some support, but technicals remain weak-to-neutral and valuation is constrained by a negative P/E and no dividend data.

More about GetBusy Plc

GetBusy plc is a UK-listed provider of specialist SaaS document workflow software serving professional and financial services industries. The business focuses on securing and automating workflows linked to more than 1.3 billion high-value documents. Its strategy is centred on generating near-term cash returns from SmartVault, its expanding US tax workflow platform, while continuing to develop Workiro, a collaboration and content management solution integrated with professional services and cloud ERP ecosystems and used by more than 60,000 paying customers globally.

The Group positions its AI-enabled software as mission-critical tools embedded in customers’ day-to-day operations, particularly for regulated industries requiring secure, compliant and automated document management. Through integrations with leading tax and compliance software providers in the US, UK and ANZ regions, GetBusy aims to establish itself as the preferred independent workflow engine for tax and professional services firms, supporting recurring revenues through long customer retention and high switching barriers.

PALM Panther Metals (LSE:PALM) has released the sixth and concluding set of Vibracore assay results from its Winston Tailings Project in Ontario, marking the completion of the core sampling program that will support a future mineral resource estimate for the historic Winston Lake Mine tailings site. The newest assay data, which include additional samples from 49 collar positions, demonstrated consistent mineral grades and significant tailings depth throughout the storage area, reinforcing — and in some instances surpassing — the preliminary findings reported during 2025 and 2026.

According to management, the completed Vibracore dataset is now being incorporated into mineral resource modelling, estimation studies and metallurgical recovery analysis. The project will next move into engineering and design work focused on low-cost tailings reprocessing and exploitation, which is intended to support a future mining recovery permit application. With most of the major sampling expenditures already completed and access to established infrastructure including power, transport and water systems operated by First Quantum, Panther Metals believes the project now has a more defined route toward potential development. The company also noted increasing interest from prospective investment partners.

The company’s outlook is held down primarily by weak financial performance (pre-revenue, recurring losses, and persistent negative free cash flow), partially offset by a strong technical uptrend (price above major moving averages and positive MACD). Valuation remains constrained by negative earnings (negative P/E) and no provided dividend yield.

More about Panther Metals Plc

Panther Metals PLC is a mineral exploration business listed on the London Stock Exchange and incorporated in the Isle of Man. The company is focused on Canadian resource projects, with particular attention on recovering valuable minerals from historic mine tailings. Its activities include the Winston Lake Mine tailings facility in Ontario, where it is targeting the recovery of gold, gallium, silver, zinc, copper, indium, cobalt and other metals.

Barclays has upgraded its recommendations on LVMH (EU:MC) and Kering (EU:KER), saying both luxury groups are well positioned to outperform a slowing sector through internal restructuring efforts and brand recovery initiatives.

The bank raised its rating on LVMH to Overweight from Equal Weight and increased its price target to €600 from €575. Kering was upgraded to Equal Weight from Underweight, while its target price was lifted to €300 from €255.

Shares in both companies advanced in Paris trading, with LVMH gaining 1% and Kering rising 1.3%.

Barclays also announced that analyst Viktoria Petrova has taken over primary coverage of the two luxury groups.

Barclays Sees Moderate Luxury Market Growth Ahead

The bank expects the broader luxury sector to expand by around 3% in 2026 before stabilising near 4% growth levels in the longer term.

Against that backdrop, Barclays said it is favouring companies capable of outperforming the sector through brand-specific and operational improvements rather than relying solely on industry-wide demand recovery.

For LVMH, Barclays highlighted recovery potential at Tiffany and Dior, which together represent more than 15% of group revenue.

The bank expects Tiffany to generate annual revenue growth of roughly 10% through 2029, eventually reaching around €7 billion in sales, supported by store renovations and product assortment improvements.

Dior, meanwhile, is projected to return to its 2023 sales peak of €8.9 billion by 2029 as the brand’s creative repositioning gains momentum.

Barclays also noted that after falling 26% since the start of the year — compared with a 5% gain for MSCI Europe — LVMH is currently trading at roughly 20 times forward earnings, representing an estimated 16% discount to its historical valuation average.

“With near-term potential catalysts pointing to an acceleration in growth, we see current levels as an attractive buying opportunity,” Petrova wrote.

The analyst added that she expects growth momentum to improve from the second quarter of 2026 as year-on-year comparisons become more favourable.

Barclays Expects Gucci Restructuring to Support Kering Recovery

Barclays’ outlook for Kering is centred more heavily on cost control measures and operational restructuring at Gucci.

The bank forecasts revenue compound annual growth of around 8% between fiscal years 2027 and 2029, implying annual outperformance of roughly four percentage points relative to the wider luxury sector.

Barclays also expects Kering’s EBIT margin to almost double from fiscal 2025 levels to 21.7% by fiscal 2029, reaching that target a year earlier than management’s own guidance.

According to the bank, store closures and restructuring efforts are expected to reduce fixed costs related to staffing, leases and administrative expenses.

Petrova also projected earnings per share compound annual growth of approximately 55% over the same period, while noting that Barclays’ 2030 forecasts still assume sales productivity, revenues and margins below previous peak levels.

At the same time, the analyst warned that market expectations for Kering in fiscal years 2026 and 2027 remain “too high,” indicating that additional downward revisions may still be necessary before a broader recovery takes hold.

“We see ’26E as a reset year as the company needs to stabilise performance,” Petrova said.

Shares in Intertek (LSE:ITRK) climbed more than 5% on Tuesday after Swedish private equity firm EQT AB submitted a fourth and final takeover proposal for the British testing and certification group, valuing the company at approximately £9.4 billion ($12.7 billion).

The London-listed company confirmed it is reviewing the latest approach after previously rejecting three earlier offers from EQT.

Under the revised proposal, Intertek shareholders would receive 60 pounds per share in cash, alongside a potential fiscal 2025 dividend of 1.1 pounds per share. EQT’s previous proposals had been set at 51.5 pounds, 54 pounds and 58 pounds per share respectively.

The latest cash offer alone represents a premium of roughly 59% compared with Intertek’s share price before market speculation around a possible takeover first emerged, although the valuation remains below the stock’s highs reached during the pandemic period.

EQT said the proposal provides “certain and accelerated cash value at a full valuation for Intertek shareholders, superior to the range of outcomes associated with Intertek’s standalone prospects.”

EQT Faces Deadline Under UK Takeover Rules

Under UK takeover regulations, EQT has until Thursday to either submit a formal bid or withdraw its interest.

If Intertek rejects the latest proposal, the private equity group would generally be prevented from making another offer for at least six months, except under limited conditions.

Analysts at RBC Capital Markets said shareholders may now push the company’s board to engage more actively with EQT.

“We believe ITRK investors, some of whom have expressed that any offer would need to start with a ’6’, should encourage the board to seriously engage with EQT,” the analysts wrote.

“We see EQT’s bid as a fair balance between compensating ITRK shareholders for future upside potential, and creating a cushion of safety for EQT as it likely plans to prepare ITRK for the next stage on it strategic journey,” they added.

Strategic Review Continues Despite Bid Interest

Intertek has repeatedly rejected EQT’s approaches over recent weeks while continuing with its own strategic review process, which could potentially lead to a breakup of the business into separate units.

The company has argued that a full takeover could involve considerable execution risks and has also indicated that it has received encouraging interest in its energy and infrastructure operations.

Meanwhile, two shareholders — PrimeStone Capital and Palliser — have publicly urged Intertek’s board to open discussions with the buyout group.

Copper prices surged on Tuesday, touching their strongest levels in over three months as concerns over constrained supply and bullish technical signals continued to support the market.

Three-month copper contracts on the London Metal Exchange climbed 2.7% to $13,943 per metric ton by 1013 GMT, following Monday’s record settlement.

The advance came despite ongoing geopolitical uncertainty linked to the conflict involving Iran. U.S. President Donald Trump said Tuesday that the ceasefire with Tehran was “on life support,” dampening hopes that a peace deal could be reached quickly.

Gold prices moved lower in Asian trading on Tuesday as investors closely followed developments surrounding the fragile ceasefire between the United States and Iran, while also awaiting a highly anticipated meeting between Donald Trump and Chinese President Xi Jinping later this week.

Spot gold declined 0.7% to $4,702.84 per ounce by 02:52 ET (06:52 GMT), while U.S. gold futures slipped 0.4% to $4,710.66 per ounce.

Other precious metals also traded lower, with spot silver falling 2.4% to $84.03 per ounce and platinum declining 3.2% to $2,067.19 per ounce.

Trump Says Iran Truce Remains Under Pressure

Market sentiment remained cautious after Trump criticised Iran’s latest response to a U.S.-supported peace proposal, calling it “a piece of garbage” and warning that the ceasefire remained at risk after weeks of indirect negotiations.

The U.S. president described the truce as being on “massive life support,” raising concerns that tensions in the Gulf could intensify again.

Iranian officials responded by saying the country’s military was prepared to respond forcefully to any “act of aggression.”

Tehran also defended its negotiating position, arguing that demands related to sanctions relief, restoring oil exports and recognition of Iran’s authority over the Strait of Hormuz were justified.

Oil prices stayed elevated on Tuesday amid concerns that additional disruption around the Strait of Hormuz could impact global crude supply flows.

Higher energy prices have limited support for gold, as investors worry that persistent inflationary pressure could prompt the Federal Reserve to keep interest rates elevated for an extended period. Higher rates generally reduce the attractiveness of non-yielding assets such as bullion.

Focus Turns to U.S. Inflation Figures and Trump-Xi Discussions

Investors are also watching closely for Trump’s expected meeting with Xi Jinping in Beijing later this week.

The discussions are expected to cover a range of geopolitical and economic topics, including Iran, Taiwan, trade disputes, artificial intelligence and energy security.

Attention is also shifting toward upcoming U.S. inflation data, especially the Consumer Price Index report due later Tuesday, which could offer additional clues about the Federal Reserve’s future monetary policy direction.

The U.S. Dollar Index gained 0.2% during Asian trading hours, making gold more expensive for investors using foreign currencies.

In base metals trading, benchmark copper futures on the London Metal Exchange slipped 0.3% to $13,848.13 per ton, while U.S. copper futures declined 0.6% to $6.45 per pound.