Category: Market News

Catenae PLC (LSE:CTAI) has taken a significant step toward refining its Bitcoin treasury operations by appointing Appold Associates Limited as its Professional Adviser. The partnership is designed to help the company establish a robust, secure, and regulation-compliant framework for managing its Bitcoin holdings. Key components of the initiative include the development of governance protocols and custody solutions.

As part of the strategy, BitGo has been selected to act as the official custodian, offering both the infrastructure and trading support required for managing digital assets securely. This move signals Catenae’s forward-thinking stance on digital finance, while also acknowledging the inherent volatility and risks tied to cryptocurrency investments.

About Catenae PLC

Catenae PLC, listed on AIM, delivers digital media and technology solutions tailored to meet complex business needs. The company provides a range of IT services, with a growing emphasis on artificial intelligence integration. With a seasoned team of technology professionals, Catenae has successfully implemented platforms across a diverse client base, including corporations, public sector organizations, and educational institutions.

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.

Pensana Rare Earths PLC (LSE:PRE) has confirmed that development of its Longonjo project in Angola is progressing on schedule and within its allocated budget of $217 million. Once operational, the facility is expected to deliver 20,000 tonnes of Mixed Rare Earth Carbonate (MREC) annually, with long-term ambitions to double output.

In parallel, the company has commenced drilling activities at its Coola site, aiming to uncover high-grade material that could potentially enhance the feedstock supply for Longonjo. This move highlights Pensana’s proactive approach to expanding its resource base and strengthening its presence in the global rare earth supply chain.

As demand rises for materials vital to green technologies, Pensana continues to establish itself as a key player in the rare earths sector—an industry critical to the electrification of transportation and the growth of renewable energy infrastructure.

About Pensana Rare Earths PLC

Pensana Rare Earths PLC is focused on discovering and developing rare earth resources, with a primary emphasis on producing Mixed Rare Earth Carbonate. This material is a core component in the manufacture of permanent magnets used in electric vehicles and offshore wind power systems. The company is also recognized for its dedication to responsible and sustainable development practices across its operations.

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.

1. Apple Warned: GenAI Strategy Now Critical

Apple (NASDAQ:AAPL) is under mounting pressure to present a clear generative AI strategy, according to Needham analyst Laura Martin. In a note published Friday, Martin warned that Apple risks falling further behind competitors in the GenAI space if it doesn’t outline a concrete plan during its upcoming Q3 earnings.

“We do not believe Apple can stay on the sidelines without a clearly articulated GenAI strategy and action plan,” Martin wrote.

She emphasized the growing technological gap between iOS and Android, calling it an “existential risk” for a company so dependent on iPhone sales and related services. Martin also raised concerns about rising costs, speculating Apple may soon announce a multi-billion-dollar licensing agreement with Anthropic or another large language model provider—or increase capital expenditures to build out its own GenAI infrastructure.

Failure to move quickly could also result in the loss of top AI talent to rivals such as Meta (NASDAQ:META), OpenAI, and Anthropic.

Apple shares are down 14% year-to-date, significantly underperforming the S&P 500’s 8% gain. Martin said the underperformance reflects investor frustration with Apple’s slow AI rollout. Unlike peers such as Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), Apple has yet to establish a clear revenue stream from GenAI. Still, its forward P/E remains high at 27.7x, despite slowing growth.

“We believe Apple’s stock could decline once investors fully grasp the level of investment required to catch up with other Big Tech players who adopted GenAI early,” Martin concluded.

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2. Amazon Price Target Raised by BofA on Strong Q2 Outlook, AI Tailwinds

Bank of America raised its price target on Amazon (NASDAQ:AMZN) to $265 from $248 while maintaining a Buy rating, citing strong second-quarter results and strengthening AI-driven growth in Amazon Web Services (AWS).

The bank now projects Q2 revenue of $164 billion, ahead of the $162 billion consensus, and net profit of $17.8 billion—surpassing the Street’s $17.0 billion estimate and Amazon’s own high-end guidance of $17.5 billion.

BofA said this confidence stems from internal credit card data and Bloomberg Second Measure, both of which point to stronger-than-expected retail sales momentum in North America.

International results may also benefit from currency effects. “The euro was up 5% year-over-year and 8% quarter-over-quarter vs. the U.S. dollar, which should help boost international revenue,” analysts noted.

For Q3, BofA expects revenue guidance between $169 billion and $174 billion, and GAAP EBIT guidance between $14.0 billion and $18.0 billion—below the consensus of $19.4 billion. Recent AWS job cuts could help support margins, while ongoing AI demand and backlog growth continue to serve as major tailwinds.

“AWS will be the key stock driver in the second half of 2025,” the bank wrote.

Amazon’s valuation at 13.4x 2026 EV/EBITDA still leaves room for multiple expansion, BofA added.

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3. AMD Upgraded to Buy on Strong Demand for CPUs and GPUs

Erste Group upgraded AMD (NASDAQ:AMD) from Hold to Buy, citing robust demand for high-performance computing in data centers as a major growth catalyst.

Analyst Hans Engel said AMD is well-positioned heading into 2025, with strength expected across both CPUs and GPUs.

“AMD anticipates continued growth in 2025, driven by rising demand for high-performance processors and graphics chips in the data center space,” Engel noted.

He added that operating margins are likely to improve over the medium term, which should accelerate profit growth.

“The stock should continue to rise on the back of these solid growth prospects,” Engel concluded.

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4. ASML Named Top Semicap Pick for 2026 by New Street

New Street Research upgraded ASML (NASDAQ:ASML) to Buy, setting a price target of €790. The firm believes ASML is best positioned within the semiconductor equipment space for long-term outperformance.

While market consensus forecasts just 2% revenue growth for ASML in 2025—well below the 6% to 12% growth range expected for peers—New Street called that view overly cautious. The firm said ASML’s strong exposure to leading-edge wafer fabrication tools gives it a clear competitive edge.

The analysts also noted limited risk of market share loss in China, which should help ASML grow at the high end of its peer group range.

Valuation was another factor supporting the upgrade. ASML shares currently trade at 25x forward earnings, below historical averages and cheaper than peers like KLA. This suggests limited downside risk from further multiple compression.

The €790 price target is based on a 25x multiple of projected 2027 earnings of €31.90 per share.

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5. BCA: AI Will Disrupt Domestic Politics and Global Security

BCA Research warned that artificial intelligence is likely to destabilize both domestic political landscapes and global security dynamics. In a new note, Chief Geopolitical Strategist Matt Gertken cited recent moves by former President Trump to accelerate U.S. AI leadership and pressure the Federal Reserve on policy.

“Artificial intelligence will destabilize domestic politics and international security,” Gertken wrote, warning that rapid AI advances may worsen polarization in the U.S. and deepen mistrust between world powers.

He anticipates increased corporate taxation and “more creative fiscal policy” targeting tech firms as part of the U.S. response. On the global stage, AI-driven military advances may heighten strategic tensions, while faster access to information won’t necessarily lead to better international cooperation.

These developments could raise market volatility and hasten shifts in economic policy, Gertken concluded, with AI acting as a long-term destabilizing force.

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.

Barclays analysts say European equities may be on the verge of a significant breakout, driven by a shift in sentiment around trade policy risks that have weighed on markets in recent months.

“Reduced tariff tail risk could give legs to the relief rally in EU equities and pave the way to a breakout,” the bank wrote in its most recent review of equity markets, pointing to improving trade dynamics as a potential catalyst.

Markets found relief after a trade agreement between the U.S. and Japan introduced a 15% tariff on most imports—a figure notably lower than anticipated. The Financial Times also reported that the European Union and the U.S. are close to finalizing a comparable deal, which comes in far below the 30% tariff level once proposed by the Trump administration.

“We think markets have good reasons to cheer the reduced tail risk, as the worst case scenario should be avoided,” Barclays noted, signaling confidence that a damaging trade war scenario is now less likely.

Despite a 10% rise in European equities so far this year, performance has largely been flat since April. Barclays views the recent trade progress as a pivotal moment: “The removal of the tariffs overhang [is] a precondition for our breakout scenario to materialize in H2, which now seems to be on the right track.”

That said, the economic consequences of increased tariffs are still expected to be felt. Barclays cautioned that a shift from 5% to 15% tariff levels “will have a negative impact on growth at some point.”

However, much of the downside may already be accounted for in earnings forecasts. “Consensus EPS growth for 2025E in tariff-sensitive names has been revised sharply lower—now at -20%,” the report noted, implying that markets have begun to price in the pressure.

While the bank maintains its preference for domestic sectors like financials and telecom, it is beginning to revisit previously underperforming export-oriented stocks. Analysts also highlighted signs of stabilization in China as a possible tailwind: “Bottoming-out in Chinese growth could also provide some additional support to EU exporters,” they wrote, though they remain wary of industries facing structural headwinds such as automotive manufacturing.

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. stock index futures moved slightly higher early Friday as traders evaluated a fresh wave of corporate earnings ahead of next week’s Federal Reserve interest rate decision.

Here’s a look at some of the notable premarket movers:

• Intel (NASDAQ:INTC) shares dropped 8% after the semiconductor giant issued a weaker-than-expected outlook for the third quarter and unveiled plans to reduce its workforce by the end of 2025. The company said headcount would decline to approximately 75,000—down 22% from the end of last year—through attrition and “other means.”
• Centene (NYSE:CNC) fell 13% after the health insurance provider surprised markets with a quarterly loss, driven in part by increased medical costs across its insurance offerings.
• Deckers Outdoor (NYSE:DECK) jumped 12% following strong fiscal first-quarter results. The footwear company reported better-than-anticipated sales for both its Hoka and Ugg brands.
• Phillips 66 (NYSE:PSX) edged up 0.6% after the oil refiner topped Wall Street profit forecasts for Q2, benefiting from favorable refining margins and reduced turnaround expenses.
• Charter Communications (NASDAQ:CHTR) slid 7.6% as its second-quarter earnings missed expectations, weighed down by ongoing declines in its customer base.
• Newmont (NYSE:NEM) advanced 1.9% after the mining giant exceeded analyst forecasts for second-quarter earnings. The beat was driven by a combination of rising gold prices and solid operational execution.
• Paramount Global (NASDAQ:PARA) rose 1.1% after the Federal Communications Commission approved its planned $8 billion merger with Skydance Media, clearing a major regulatory hurdle.
• Boyd Gaming (NYSE:BYD) added 0.8% after the casino and entertainment company posted second-quarter results that topped expectations. Management cited continued strength among core customers and an uptick in retail play.
• Sarepta Therapeutics (NASDAQ:SRPT) dropped 10% after European regulators declined to recommend approval for Elevidys, the company’s gene therapy treatment for Duchenne muscular dystrophy.

Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were all modestly in the green heading into the final trading day of the week, as earnings season remains in focus and investors brace for clues from the Fed on the path of interest rates.

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.

The U.S. dollar climbed on Friday, bouncing back from two-week lows, yet it remains at subdued levels as traders digest the shifting landscape around global trade ahead of next week’s Federal Reserve meeting.

At 04:35 ET (08:35 GMT), the Dollar Index, which tracks the greenback against a basket of six currencies, increased 0.2% to 97.340. Still, it’s on track for a roughly 1% weekly decline, marking its weakest performance in a month.

Dollar finds some support

As the week wraps up, the dollar has found modest backing, helped by talks of future trade agreements with the European Union and China—two of America’s biggest trading partners. Earlier this week, the European Commission indicated that a negotiated solution was near ahead of the August 1 deadline, while U.S. and Chinese officials plan to meet in Stockholm next week to discuss extending the deadline for trade talks.

All eyes now turn to the Federal Reserve meeting, which is widely expected to keep rates steady. Traders will be looking closely at the Fed’s subsequent commentary for clues on the timing of future moves.

“We’re still of the opinion that the dollar can find a little stability this summer on higher inflation and delayed Fed rate cuts – but clearly this view stands against pervasive dollar pessimism in the market,” said analysts at ING, in a note.

Euro stays near four-year high

In Europe, EUR/USD slipped 0.1% to 1.1745, but the euro remains close to the near four-year peak of $1.183 touched earlier this month. The European Central Bank held its policy rate steady at 2% on Thursday, ending a year of easing to await more clarity on U.S. trade relations.

ECB President Christine Lagarde described the economy as resilient and a little better than expected during the press conference. However, data released on Friday showed German business morale improved less than anticipated in July.

The Ifo institute said its business climate index rose to 88.6 in July from 88.4 in June, below the forecast of 89.0.

“The upturn in the German economy remains anaemic,” Ifo president Clemens Fuest said.

Pound dips after weak UK retail sales

GBP/USD fell 0.4% to 1.3468 following data revealing that UK retail sales volumes grew by 0.9% month-on-month in June, missing the expected 1.2% rise and recovering less than a third of May’s 2.8% drop. Household goods retailers faced particular difficulties, with sales declining 0.1% month-on-month for the second month running, as the housing market continued to struggle after stamp duty changes.

Yen falls after softer inflation data

Elsewhere, USD/JPY traded 0.5% higher at 147.71 after Friday’s data showed Tokyo’s consumer price inflation eased more than expected in July, despite core inflation staying above the Bank of Japan’s target. The BOJ is expected to keep interest rates steady next week amid U.S. tariff tensions and domestic political uncertainty.

AUD/USD dropped 0.4% to 0.6568 but is still on track for a weekly gain of around 1% following the trade deal between Japan and the U.S., while USD/CNY rose 0.2% to 7.1672.

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.

British stocks fell Friday morning, with the FTSE 100 down 0.4% and the British pound slipping 0.3% against the dollar to trade below $1.35, after retail sales data missed expectations.

At 08:06 GMT, Germany’s DAX index dropped 0.9%, while France’s CAC 40 declined 0.4%.

UK retail sales rise but fall short of forecasts

UK retail sales volumes rose 0.9% month-on-month in June, below the 1.2% analysts anticipated and recovering less than a third of May’s 2.8% slump. Retail growth slowed considerably in Q2, with sales volumes up only 0.2% quarter-on-quarter compared to 1.3% in Q1.

Household goods retailers saw sales decline 0.1% month-on-month for the second consecutive month, hit by ongoing challenges in the housing market following stamp duty changes.

NatWest reports strong H1 results

NatWest Group (LSE:NWG) posted a £2.68 billion profit for the first half of 2025, supported by £6.12 billion in net interest income. Total revenues reached £7.99 billion, including £1.87 billion from non-interest sources. Operating expenses amounted to £4.02 billion, which included £118 million in litigation and conduct charges.

Marshalls shares plunge on profit warning

Shares of Marshalls PLC (LSE:MSLH) fell nearly 19% after lowering its full-year 2025 adjusted profit before tax guidance to between £42 million and £46 million—about 21% below the consensus midpoint of £55.4 million. The company warned market conditions are unlikely to improve in H2 and is implementing cost-cutting and capacity reduction measures.

Jupiter Fund Management sees profits fall on lower revenue

Jupiter Fund Management (LSE:JUP) reported that second-quarter inflows partly offset previous outflows, but profits declined compared to last year. Basic EPS for H1 dropped to 4.1p from 5.4p, while underlying EPS fell from 6.6p to 4.2p. Net revenue slipped to £153.9 million from £173.7 million.

Rightmove beats revenue estimates but signals slower growth

Rightmove PLC (LSE:RMV)posted stronger-than-expected H1 results, with revenue rising to £211.7 million versus a £209 million consensus. The boost was driven by increased platform activity, though the company cautioned growth will likely slow after a record 2024.

Starmer to push Trump for faster steel tariff deal

UK Prime Minister Keir Starmer is set to press U.S. President Donald Trump for a swift trade agreement to reduce tariffs on British steel, according to the Financial Times.

EU approves GSK’s Blenrep for cancer treatment

GSK (LSE:GSK) announced that the European Union has approved its drug Blenrep for treating relapsed or treatment-resistant multiple myeloma, a cancer affecting plasma cells.

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.

The European Central Bank’s latest Survey of Professional Forecasters, published Friday, reveals a softer inflation outlook for the euro area this year and next compared to earlier estimates.

Inflation is now expected to average 2% in 2025, a decrease from the 2.2% forecast made just three months ago. Looking further ahead, inflation is projected to ease even more in 2026, settling at 1.8%, below the previous estimate of 2%.

After a sharp decline in inflation over recent years, current figures are close to the ECB’s target rate of 2%. This steady trend influenced the ECB’s decision to keep interest rates steady on Thursday, signaling a cautious approach rather than moving quickly to cut rates again.

Since June 2024, the ECB has already slashed its main interest rate by half—from 4% down to 2%.

The survey also highlights that tariffs will have only a modest dampening effect on inflation in the short term and are expected to be “broadly neutral on balance in 2027 and over the longer-term horizon.”

In the longer run, inflation is anticipated to hover near the ECB’s 2% goal, maintaining price stability across the eurozone.

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 equity markets fell on Friday as worries grew that tariff-related uncertainties might already be weighing on corporate earnings, despite ongoing talks about a possible trade agreement between the U.S. and the European Union.
By 08:00 GMT, Germany’s DAX index dropped 0.9%, France’s CAC 40 slipped 0.4%, and the U.K.’s FTSE 100 also declined by 0.4%.

EU-U.S. trade deal “within reach”

On Thursday, a spokesperson from the European Commission indicated that a trade tariff agreement between the EU and the U.S. is “within reach,” ahead of the August 1 deadline when U.S. President Donald Trump has threatened to impose a broad 30% tariff on European imports.
Reuters, citing two diplomats, reported that this deal would likely impose a general 15% tariff on EU goods entering the United States.

Although the announcement of potential deals — including the recently finalized U.S.-Japan trade agreement earlier this week — has generated some optimism, it’s important to recognize that such arrangements could still negatively affect many of Europe’s biggest companies.

Volkswagen reveals substantial tariff impact

Within the corporate sector, Volkswagen (TG:VOW3) shares dropped after the German automaker lowered its full-year financial outlook, revealing a €1.3 billion impact from tariffs.
Michelin (EU:ML) also suffered losses after the French automotive parts supplier reported a 27.8% plunge in net income during the first half of the year, largely due to tariff threats causing a sharp downturn in North and Central America.
Shares of Puma (TG:PUM) fell following disappointing second-quarter sales and a downward revision of its full-year guidance, as the German sportswear company pointed to the effect of U.S. trade tariffs.
Similarly, Traton (TG:8TRA) saw a steep decline after cutting its annual forecast and warning of a challenging trading environment.

Not all news was negative: Remy Cointreau (EU:RCO) shares rose after the French spirits producer raised its profit forecast for the year and posted better-than-expected first-quarter sales, helped by reduced tariff effects in China.
NatWest Group (LSE:NWG) also saw its stock rise after the British bank reported an 18% jump in first-half profits, boosted by higher interest income.

U.K. consumer confidence weakens

Economically, consumer confidence in the U.K. declined in July amid sluggish economic growth and persistent inflation, according to data released on Friday.
The consumer confidence index, compiled by research firm GfK in partnership with the Nuremberg Institute for Market Decisions, fell to minus 19 in July from minus 18 in June, reversing the slight improvement seen the previous month.
Germany’s Ifo business climate index also showed a modest drop in sentiment in July, reflecting ongoing struggles in broader European economic growth.

The European Central Bank held interest rates steady on Thursday after cutting rates eight times over the past year, choosing to wait as Brussels and Washington negotiate a trade deal that could reduce ongoing tariff-related uncertainty.

Oil prices rise on trade deal optimism

Oil prices advanced on Friday, building on sharp gains from the previous session, driven by hopes for additional U.S. trade agreements before President Donald Trump’s looming deadline.
At 04:00 ET, Brent crude futures rose 0.5% to $69.54 per barrel, while U.S. West Texas Intermediate crude futures gained 0.5% to $66.37 per barrel.
Both contracts surged more than 1% on Thursday after data showed a notable drop in U.S. crude stockpiles.

Oil markets have been supported by expectations of new trade deals between the U.S. and its partners ahead of the August 1 deadline for fresh tariffs on goods from several countries.
Lower trade tensions help stimulate economic activity and cross-border commerce, which in turn raises oil demand through increased transportation and industrial energy consumption.

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.