Category: Market News

Xtract Resources Plc (LSE:XTR) has successfully concluded the first phase of drilling at its Silverking Project in Zambia, undertaken in partnership with Oval Mining Limited. The program returned promising copper and silver intercepts, providing the foundation for an initial internal mineral resource estimate to support early-stage mine planning.

The results mark a significant milestone in Xtract’s plan to boost its ownership in the project to 70%, contingent on fulfilling its expenditure obligations. In parallel, the company is advancing preparations for further exploration at the nearby Kopje Prospect, including additional drilling and infrastructure development to support long-term project growth.

About Xtract Resources Plc

Xtract Resources is a UK-based mining company focused on the exploration and development of copper and silver assets. Its operations are primarily centered in Zambia’s Mumbwa District, where it pursues growth through joint ventures and strategic option agreements. The company is committed to unlocking the potential of high-value mineral projects across the region.

Tao Alpha PLC (LSE:TAO) has officially rebranded as Satsuma Technology PLC, adopting the new ticker symbol SATS.L. The rebrand signals a strategic shift toward strengthening the company’s identity in the decentralised AI and blockchain sectors. This change aligns with its long-term vision of developing AI systems powered by decentralised infrastructure and a treasury strategy anchored in Bitcoin.

The rebranding does not alter the company’s ongoing operations or shareholder rights but aims to better position Satsuma Technology as an innovator at the intersection of artificial intelligence and cryptocurrency.

About Satsuma Technology PLC

Formerly Tao Alpha PLC, Satsuma Technology is focused on building decentralised AI ecosystems. The company develops subnet infrastructure and AI agents, leveraging Bitcoin as a core treasury asset to support its decentralisation-first approach. Its mission is to pioneer technologies that combine the resilience of blockchain with the power of artificial intelligence.

Westminster Group Plc (LSE:WSG) has secured a contract exceeding £220,000 to deliver a cutting-edge personnel screening system for a major global science and chemicals company based in the UK. The deal adds to a recent string of technology-related wins and reinforces Westminster’s growing reputation as a trusted provider of advanced security solutions for high-risk and mission-critical environments.

The new agreement reflects the company’s ongoing success in expanding its footprint in the security technology sector and demonstrates continued demand for its expertise in protecting sensitive facilities.

About Westminster Group

Westminster Group Plc is an international security and services provider with a presence in over 50 countries. The company specializes in delivering high-tech security systems, including surveillance, detection, tracking, and interception technologies. Westminster also offers long-term managed services at strategic sites such as airports and ports, along with consulting, training, and manpower solutions. Its clientele includes government agencies, NGOs, and multinational corporations across various industries.

Itaconix Plc (LSE:ITX) has launched BIO*Asterix®, a new range of bio-based functional materials aimed at replacing conventional fossil-derived monomers in products such as paints, coatings, and adhesives. This product line represents a major milestone in the company’s strategy to tap into the $2.6 billion butyl acrylate market across Europe and North America.

To support the rollout, Itaconix has introduced a new ecommerce platform to reach a broader audience, particularly academic and industrial labs in North America. The initiative underscores the company’s commitment to improving sustainability, safety, and performance in everyday chemical applications while positioning itself for long-term growth in the specialty polymers space.

While the company continues to face challenges related to profitability and cash flow, its strong equity position, ongoing innovation, and strategic product development offer reasons for cautious optimism. Despite current bearish market indicators and valuation pressures, BIO*Asterix® could be a catalyst for improved performance over time.

About Itaconix

Itaconix Plc is a pioneer in the development of plant-based specialty polymers, offering sustainable alternatives to fossil-fuel-derived chemicals. Its technologies are primarily focused on enhancing performance in paints, coatings, adhesives, and other consumer and industrial applications.

Windar Photonics Plc (LSE:WPHO) has published its financial results for 2024, reporting revenues of €4.6 million—a slight dip from the previous year—while achieving record product shipments totaling €5.8 million. The company highlighted strong progress in expanding its footprint, particularly in the North American market, where it secured key orders and introduced its new Nexus software platform.

Although macroeconomic conditions impacted order timing, Windar remains confident in its long-term growth outlook. Recent equity raises have strengthened its financial position, enabling greater investment in technology and manufacturing. The company’s relocation to new facilities in Denmark is expected to increase production capacity fivefold, setting the stage for significant revenue growth in 2025.

About Windar Photonics

Windar Photonics Plc is a clean energy technology company specializing in LiDAR-based optimization systems for wind turbines. Its solutions are designed to boost energy output and prolong turbine lifespan by enhancing wind measurement and turbine alignment.

Shuka Minerals Plc (LSE:SKA) has confirmed a key milestone in its plan to acquire the Kabwe Zinc Mine in Zambia, along with Leopard Exploration and Mining Limited. The company has successfully secured an increased loan facility from Gathoni Muchai Investments Limited, which will support the completion of the acquisition and kickstart exploration and development activities at the site. The move marks a significant step in Shuka’s strategy to rejuvenate the historically rich Kabwe Mine and broaden its footprint across Africa’s mining sector.

About Shuka Minerals Plc

Shuka Minerals Plc is a growth-focused mining and development company with a strong emphasis on tapping into Africa’s vast mineral potential. The company is actively involved in acquiring and developing high-value mineral assets while promoting sustainable practices and local community engagement. Shuka currently operates a coal mine in Tanzania and is exploring further opportunities in Zambia, South Africa, and other resource-rich regions. It is listed on South Africa’s Alternative Exchange (AltX) and trades on London’s AIM market.

Mkango Resources Ltd (LSE:MKA) has extended the exclusivity period for its proposed merger with Crown PropTech Acquisitions, pushing the deadline to July 3, 2025. The extension provides both parties with additional time to finalize negotiations and complete documentation for the potential transaction. If completed, the business combination could significantly strengthen Mkango’s role in the rare earth magnet recycling and production sector.

About Mkango Resources

Mkango Resources is dual-listed on the AIM and TSX Venture Exchange. The company aims to become a key player in the global supply chain for recycled rare earth materials, including magnets, oxides, and alloys. Through its stake in Maginito Limited, Mkango is engaged in both short and long loop rare earth magnet recycling and manufacturing across facilities in the UK, Germany, and the U.S. Additionally, Mkango holds strategic interests in the Songwe Hill rare earth project in Malawi and a rare earth separation facility in Pulawy, Poland.

U.S. stocks surged midday, with the S&P 500 and Nasdaq reaching record highs, boosted by optimism over trade negotiations and expectations of interest rate cuts. Technology and financial sectors led the rally, supported by positive corporate news, regulatory changes, and strong earnings projections. Investors remain focused on upcoming economic data and the Federal Reserve’s next move.

The Nasdaq has soared 17.5% this quarter, followed by the S&P 500 with a 10.2% gain and the Dow Jones up 4.6%. However, the Dow still lags 2.3% below its December peak as investors assess policy risks and key trade deadlines.

All eyes are on the July 9 deadline for trade agreements. President Trump has floated the idea of adjusting tariffs, while Canada recently withdrew its proposed digital services tax targeting U.S. tech companies to help restart stalled negotiations.

Weaker economic reports have fueled speculation that Trump might replace Fed Chair Jerome Powell with someone more dovish, adding to expectations of early rate cuts. Powell and other Fed officials are scheduled to speak later this week, with markets watching closely for policy signals.

Upcoming data — including non-farm payrolls and ISM manufacturing and services reports — could influence the sustainability of the current rally. Weak numbers may further strengthen the case for rate cuts.

Technology stocks rose 0.69% at midday, driven by continued enthusiasm for AI innovation. Financials followed closely, up 0.7%, after banks passed the Fed’s stress tests. Health care and industrials posted modest gains of 0.27%, while consumer discretionary and real estate underperformed. Real estate fell 0.62% as investors rotated into higher-risk assets.

Juniper Networks jumped 8.3% after the U.S. Department of Justice approved Hewlett Packard Enterprise’s $14 billion acquisition. HPE shares climbed 9.6% on expectations of strong synergies. Oracle also made headlines, gaining 6.4% after forecasting cloud contracts projected to generate more than $30 billion starting in fiscal 2028.

In banking, Bank of America rose 0.8%, while JPMorgan Chase and Wells Fargo advanced 1.5% and 1.9%, respectively, driven by optimism around share buybacks post-stress tests. With both spot and futures markets at record levels, traders are watching the July 9 trade deadline, economic data releases, and Fed commentary to gauge the strength of this bull market.

Dip-buying continues to support stocks for now, but upcoming reports will be key in determining whether bulls can maintain momentum into the new quarter.

Also of note, James Hyerczyk, a seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, continues to offer insights into price movements and chart patterns. He is the author of two books on technical analysis and is well-versed in both futures and equity markets.

In his appearance before Congress last week, Fed Chairman Jerome Powell once again reiterated the central bank’s cautious stance: it is not rushing to cut interest rates, firstly because the economic situation allows it for now and, secondly, because it is concerned that the ongoing trade war could trigger a spike in inflation.

And indeed, the data is already showing the first signs of the negative impact of higher tariffs. Although the PCE price index rose by only 0.1% month-on-month and 2.3% year-on-year in May, core inflation was slightly higher than expected at 0.2% month-on-month and 2.7% year-on-year, with goods prices leading the way.

So why are investors still pricing a 21% chance of a rate cut in July, which has supported the S&P 500? First, there is still hope for progress in trade negotiations. Second, there is a growing belief that further deterioration in the labor market could finally force the Fed to make the long-awaited move.

Market expectations for interest rates could also be shaped by Trump’s attacks on Powell and reports that he’s considering potential replacements. Trump has argued that the Fed should cut rates to 1%, claiming it would save the U.S. hundreds of billions of dollars in interest on the national debt.

For reference, the U.S. spent $1.1 trillion on debt interest in 2024, nearly double what it paid five years earlier.

The problem is that if the Fed’s independence is undermined, investors could start demanding a higher risk premium, especially for 10-year and 30-year treasuries, thus we could see higher yields. And the damage won’t be limited to just bonds. Trump’s political meddling could also hurt the dollar.

The effect already seems to be affecting the dollar index, which has slipped toward the 97-point mark. Sentiment could be further clouded by an OMFIF survey showing that many central banks plan to increase their exposure to the euro and the yuan, reducing their dependence on the dollar.

That said, it would be far better for the economy if the Fed made its decisions based on economic fundamentals rather than political pressures, which could create more problems than they solve. Ultimately, much will depend on whether real progress is made in the trade talks with key partners.

European equities faced a lack of clear direction on Monday as investors closely monitor ongoing international trade discussions ahead of the looming July 9 deadline for U.S. reciprocal tariffs.

Tensions eased somewhat after Canada decided to withdraw its previously planned Digital Service Tax (DST) targeting U.S. tech companies.

Meanwhile, U.S. President Donald Trump criticized trade conditions involving automobiles between the U.S. and Japan, labeling them as imbalanced, and suggested that the 25% tariffs on imported Japanese cars might remain in place.

In a related development, a new trade pact between the United States and the United Kingdom officially took effect today, lowering U.S. tariffs on British-manufactured cars and aircraft components.

At midday, the French CAC 40 Index edged up slightly by 0.1%, whereas the U.K.’s FTSE 100 Index and Germany’s DAX Index each retreated by 0.2%.

On the corporate front, Skanska AB (USOTC:SKSBF) saw its shares dip following the announcement of a significant investment, approximately SEK 700 million (about CZK 1.6 billion), in a residential development named D.O.K. Radlice situated in Prague’s Radlice neighborhood.

Defense technology company Chemring (LSE:CHG) gained ground after revealing its plan to acquire Landguard Nexus Limited in a deal valued at up to £20 million.

Shares of STMicroelectronics (NYSE:STM) and Infineon Technologies (TG:IFX) also rose, buoyed by J.P. Morgan placing both on a positive catalyst watchlist.