Category: Market News

British equities slipped on Tuesday but remained above the 9,000 level, while the pound also weakened slightly. The market focus in the U.K. was on the government’s green light for the Sizewell C nuclear power project.

By 12:30 GMT, the FTSE 100 index had declined by 1%, with the British pound falling nearly 1% against the U.S. dollar, trading at around 1.34.

In Europe, Germany’s DAX dropped 1.2%, and France’s CAC 40 fell 0.9%.

UK Government Borrowing Surpasses Expectations

New data revealed that public sector borrowing in the U.K. was higher than anticipated for June, mainly due to rising inflation pushing up debt servicing costs. The Office for National Statistics (ONS) reported a borrowing figure of £20.7 billion ($27.9 billion) last month.

Government Approves £38 Billion Sizewell C Nuclear Facility

The U.K. government has authorized construction of the Sizewell C nuclear power station in Suffolk, a massive infrastructure investment valued at £38 billion ($51 billion). The government will hold a 44.9% share, making it the largest stakeholder. Canada’s La Caisse pension fund will own 20%, Centrica PLC (LSE:CNA) controls 15%, and Amber Infrastructure holds 7.6%.

Following the announcement, Centrica shares jumped more than 4%.

The project enjoys backing from both domestic and international investors, with La Caisse representing a key foreign stakeholder in the U.K. energy sector.

Compass Group Shares Advance After Upgraded Outlook

Shares in Compass Group (LSE:CPG) rose over 4% after the food services company increased its full-year profit forecast and revealed plans to acquire Vermaat Group for €1.5 billion, expanding its footprint in Europe.

The company posted an 8.6% organic revenue increase for Q3 ending June 2025, beating analyst predictions of 7.7% and accelerating from the previous quarter’s 7.7% growth.

Kier Group Shares Drop on CEO Departure Announcement

Kier Group’s (LSE:KIE) stock declined more than 5% after CEO Andrew Davies announced he will step down at October’s end. The company also released a trading update indicating revenue and profits are expected to meet board targets.

Stuart Togwell, Kier’s current Group Managing Director of Construction, will succeed Davies.

Sanofi to Acquire Vaccine Developer Vicebio for up to $1.6 Billion

French pharma giant Sanofi (EU:SAN) has agreed to buy UK-based vaccine developer Vicebio in a deal valued at up to $1.6 billion. The initial payment is $1.15 billion, with additional contingent payments of up to $450 million based on regulatory and development milestones.

Greencore Group PLC ADR Shares Surge on Strong Q3 Revenue

Greencore Group’s (LSE:GNC) shares jumped over 10% following a robust Q3 report showing revenue growth accelerated to 9.9%, up from 6.6% in the year’s first half. The boost was attributed to new contracts and favorable summer weather, with inflation recovery contributing 3.1% to growth.

Even excluding new contract gains, underlying volume rose 1.9%, outperforming the broader grocery market’s 0.7% expansion.

Mitie Group PLC Reports 10.1% Revenue Growth in Q1 FY26

Mitie Group (LSE:MTO) announced a 10.1% year-over-year revenue increase in Q1 fiscal 2026 to £1.28 billion, driven by 8% organic growth. The facilities management segment rose 7.3%, while the higher-margin Facilities Transformation division grew 12.8%.

The company remains on track with cost-saving initiatives to counter National Insurance pressures.

Admiral Group Plc Shares Fall as FCA Highlights Claims Issues

Admiral Group (LSE:ADM) shares slipped after the UK Financial Conduct Authority criticized the motor insurance sector’s claims handling, attributing rising premiums mainly to increased external costs rather than insurer profits.

Argentex Group PLC Interim CEO Steps Down; Company Prepares for Administration

Argentex Group (LSE:AGFX) confirmed that Interim CEO Tim Rudman resigned and the board has decided to appoint administrators for the company and some subsidiaries.

ME Group International PLC Shares Edge Higher on Record First-Half Profits

ME Group International (LSE:MEGP) shares rose slightly after reporting record first-half profits through April 30, 2025. Pre-tax profit climbed 13.3% to £34 million, revenue increased 2.3% (4.7% constant currency), and EBITDA improved 3.9% to £53.2 million, with a margin gain to 34.6%.

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.

Futures for the major U.S. stock indexes suggest a largely flat open on Tuesday, as investors appear cautious following a session that closed with modest gains.

Market participants seem hesitant to take bold positions ahead of the looming August 1 deadline for President Donald Trump’s planned “reciprocal tariffs,” keeping trading activity subdued.

On Monday, stocks started off with gains and maintained positive momentum for much of the day before slipping back in the final hours of trading.

Even with the late-session retreat, both the Nasdaq and S&P 500 closed at fresh record highs.

The Nasdaq increased by 78.52 points, or 0.4%, settling at 20,974.17, while the S&P 500 edged up 8.81 points, or 0.1%, to finish at 6,305.60. In contrast, the Dow Jones Industrial Average dipped slightly by 19.12 points, less than 0.1%, closing at 44,323.07.

Early optimism was fueled by positive trade outlooks, with Commerce Secretary Howard Lutnick expressing confidence that the U.S. and European Union will reach a trade agreement.

“These are the two biggest trading partners in the world, talking to each other. We’ll get a deal done,” Lutnick told CBS News over the weekend. “I am confident we’ll get a deal done.”

Still, Lutnick emphasized that August 1 marks a firm deadline for the implementation of new tariffs.

“Nothing stops countries from talking to us after August 1st, but they’re going to start paying the tariffs on August 1st,” he said.

Buying momentum faded throughout Monday as traders turned their attention toward upcoming earnings reports from high-profile companies like Alphabet (NASDAQ:GOOGL), Tesla (NASDAQ:TSLA), and Intel (NASDAQ:INTC).

On the economic front, the Conference Board released data showing a larger-than-expected decline in its leading economic indicators for June.

The index fell 0.3% last month, following a revised flat reading in May, compared to economists’ expectations for a 0.2% drop.

Despite broader market softness, gold stocks rallied strongly, pushing the NYSE Arca Gold Bugs Index up 3.8%, driven by a sharp rise in gold prices.

Steel shares also gained traction, with the NYSE Arca Steel Index jumping 2.5%.

Telecommunications and retail sectors saw some gains, while natural gas and biotech stocks experienced notable declines.

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 stocks edged lower on Tuesday as investors remained cautious, weighed down by disappointing corporate results and escalating trade tensions.

Reports indicate the European Union is gearing up to implement retaliatory actions under its Anti-Coercion Instrument (ACI) in response to U.S. President Donald Trump’s plan to impose a 30% tariff on EU goods starting August 1st.

Meanwhile, hopes for a temporary trade agreement between the U.S. and India before the August 1 deadline have faded, due to ongoing disputes over critical agricultural and dairy products.

On the economic front, UK data revealed a sharp increase in the budget deficit for June. Public sector net borrowing surged by GBP 6.6 billion year-over-year to GBP 20.7 billion, exceeding the Office for Budget Responsibility’s forecast of GBP 17.1 billion. This marks the second-largest June borrowing since records began in 1993.

In market performance, Germany’s DAX Index fell 1.3%, France’s CAC 40 declined 0.9%, and the UK’s FTSE 100 edged down 0.1%.

Among individual stocks, Dutch paint and coatings firm Akzo Nobel NV slipped after reporting weaker Q2 net profits and sales, impacted by currency headwinds and soft market conditions.

Swedish engineering company Alfa Laval also declined, missing expectations on second-quarter orders and sales.

Swiss bank Julius Baer saw shares drop following a sharp profit decrease caused by higher loan loss provisions.

Fragrance and flavor specialist Givaudan tumbled after reporting a negative free cash flow of CHF 16 million for the first half of 2025.

German pharmaceutical and lab equipment supplier Sartorius AG fell as well. The company upheld its 2025 guidance but cautioned that its sales and margin outlook excludes potential impacts from tariffs or related adjustments.

In contrast, Integrum AB shares surged after the company’s independent bid committee recommended shareholders accept the public takeover offer from OsteoCentric Oncology and Bone Anchored Prostheses, LLC.

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 futures showed little movement Tuesday as investors prepared for a fresh wave of earnings reports from major companies. So far, corporate results have generally been positive amid ongoing concerns about tariffs clouding the broader economic outlook. Meanwhile, reports indicate that the ambitious artificial intelligence collaboration between OpenAI and SoftBank is facing challenges in its rollout. Additionally, speculation is mounting over potential mergers and acquisitions in the U.S. freight rail sector.

Futures hold steady

On Tuesday morning, U.S. stock futures remained largely unchanged as traders paused ahead of the next batch of earnings announcements. By 03:31 ET, contracts tied to the Dow Jones, S&P 500, and Nasdaq 100 all showed minimal fluctuations.

The S&P 500 and the tech-focused Nasdaq Composite had both reached record highs in the previous session, supported in part by encouraging company earnings reports.

Alphabet Inc. (NASDAQ:GOOGL), the Google parent company, saw its shares rise ahead of its scheduled earnings release on Wednesday. Alphabet is among the influential “Magnificent Seven” mega-cap tech firms reporting this week, alongside Tesla (NASDAQ:TSLA), whose shares slipped slightly on Monday.

Verizon Communications (NYSE:VZ) gained roughly 4% following the company’s announcement raising the lower boundary of its full-year profit growth forecast.

While earnings season is picking up pace, markets remain focused on developments regarding sweeping U.S. tariffs. With the August 1 deadline for President Donald Trump’s increased “reciprocal” tariffs fast approaching, reports suggest that the White House has yet to make meaningful headway in trade talks with multiple countries.

How U.S. corporations respond to these potential tariff hikes will be a key theme throughout the current quarter’s earnings season.

Earnings to watch

Tuesday’s earnings calendar includes notable reports from homebuilders DR Horton (NYSE:DHI) and PulteGroup (NYSE:PHM), which may provide insights into the health of the U.S. housing market. Higher mortgage rates and economic uncertainty have recently weighed on homebuying, though analysts suggest that possible Federal Reserve rate cuts later this year could spur demand.

General Motors (NYSE:GM) has already cautioned about a $4 billion to $5 billion annual earnings impact from U.S. tariffs, and investors will be eager to hear the automaker’s outlook on trade.

Other notable reports before markets open include Coca-Cola (NYSE:KO), Philip Morris International (NYSE:PM), and defense contractors RTX Corp. (NYSE:RTX) and Lockheed Martin (NYSE: LMT). Texas Instruments (NASDAQ:TXN) and Intuitive Surgical (NASDAQ:ISRG) are set to release results after the closing bell.

After Monday’s market close, NXP Semiconductors (NASDAQ:NXPI) reported a 6% drop in second-quarter revenue, attributed to softness in its communications and infrastructure business, which led to a decline in extended-hours trading.

OpenAI and SoftBank’s AI venture hits bumps, WSJ says

A Wall Street Journal report revealed that the $500 billion partnership between OpenAI and SoftBank aimed at rapidly advancing U.S. artificial intelligence projects has struggled to gain momentum.

Citing sources familiar with the initiative, the WSJ said the project—known as “Stargate”—has significantly scaled back its near-term ambitions. Despite being announced by OpenAI CEO Sam Altman, SoftBank’s Masayoshi Son, and President Trump about six months ago, it has yet to secure a contract for a data center.

The report notes disagreements between OpenAI and SoftBank over partnership terms, including where to locate data centers.

Although SoftBank pledged to “immediately” invest $100 billion in January, the plan now involves launching a smaller data center, likely in Ohio, later this year. Both Altman and Son have stated their collaboration is progressing well.

Vital Knowledge analysts noted that this might be a “tailwind” for Microsoft (NASDAQ:MSFT), suggesting OpenAI could rely on Microsoft’s Azure cloud for a longer period than expected.

“But it does raise questions about some of the hype that’s formed around the industry, where huge investment figures are cavalierly thrown out and used as justification for ever-expanding valuations when a lot of the numbers are either recycled, double-counted, or vaporware,” the analysts said.

Freight rail sector deal chatter

According to Semafor, Berkshire Hathaway-owned BNSF has engaged Goldman Sachs to explore the possibility of acquiring a competing freight rail company.

It remains unclear whether BNSF is targeting Norfolk Southern (NYSE:NSC) or CSX Corp (NASDAQ:CSX). Meanwhile, Reuters reports that CSX, based in Jacksonville, is in discussions to bring on financial advisors.

These developments follow reports that Union Pacific (NYSE: UNP), the largest U.S. freight operator, is considering buying Norfolk Southern to create an extensive $200 billion rail network spanning the continental U.S. This would rank among the most significant deals in the sector since Canadian Pacific merged with Kansas City Southern four years ago, with Goldman Sachs playing a key advisory role.

Analysts warn that any such transaction may face regulatory scrutiny, raising questions about the Trump administration’s stance on major mergers.

Gold retreats from recent peak

Gold prices eased slightly on Tuesday, pulling back from a one-month high reached in the previous session due to some profit-taking and a modest U.S. dollar rebound.

The precious metal’s safe-haven status had been bolstered by reports that the European Union is preparing countermeasures in response to the U.S.’s “reciprocal” tariffs. Washington reportedly seeks tariffs of at least 15% on the EU, while Brussels aims to maintain the current 10% rate.

Uncertainty about U.S. interest rates and Federal Reserve independence has also supported demand for safe assets. The Fed is widely expected to hold rates steady next week despite President Trump’s calls for immediate cuts.

Spot gold slipped 0.4% to $3,383.63 an ounce, with futures down 0.3% to $3,395.62 an ounce as of 03:30 ET. On Monday, spot gold jumped 1.4% to nearly $3,400 per ounce.

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 eased a bit on Tuesday as investors took some profits following Monday’s rally to a one-month high. Uncertainty around U.S. tariffs and interest rate policies continued to support demand for safe-haven assets.

At 04:25 ET (08:25 GMT), spot gold declined 0.2% to $3,389.27 per ounce, after surging 1.4% the previous day. Gold futures also slipped 0.2% to $3,401.12 per ounce.

Growing Concerns Over Imminent U.S. Tariffs

The market remained jittery as the August 1 deadline for the introduction of U.S. tariffs approached. Investor confidence was shaken by fading prospects of a trade agreement between the European Union and the United States. Reports indicated the EU is preparing retaliatory tariffs in response to U.S. tariff plans that exceeded initial expectations.

Additionally, the Trump administration signaled little likelihood of extending the tariff deadline. Over the last two weeks, President Donald Trump issued several letters announcing tariffs ranging from 20% to 50% on key U.S. trading partners, prompting worries in the market and threats of countermeasures from affected countries.

This unresolved trade tension has fueled demand for gold and other precious metals, which have seen sharp price gains recently. However, on Tuesday some investors booked profits, with spot silver slipping 0.4% to $39.165 per ounce and spot platinum falling 0.5% to $1,488.10 per ounce.

Among industrial metals, benchmark copper futures on the London Metal Exchange inched up 0.1% to $9,879.25 per ton, while COMEX copper futures rose 0.2% to $5.6480 per pound. The 50% U.S. tariff on copper is also set to take effect on August 1.

Data from the Shanghai Futures Exchange revealed that inventories of base metals increased last week. Copper stocks rose by 3,094 tonnes to 84,556 tonnes as of Friday, aluminium inventories climbed 5,625 tonnes to 108,822 tonnes, and zinc stocks grew 9.3% week-over-week to 54,630 tonnes—the highest since April 18.

Bernstein Projects Stronger Gold Prices

Bernstein analysts argued that Wall Street might be underestimating gold’s potential by relying on outdated forecasting techniques. They identified six reliable methods—mostly focused on government and monetary policy factors—and averaged these to forecast gold at $3,700 per ounce by 2026, significantly higher than the current consensus estimate of $3,073.

Dollar Weakens Amid Fed Speculation

Gold’s rally on Monday coincided with a slight retreat in the dollar, which paused after two weeks of gains. The dollar remains relatively strong, fueled by expectations that the Federal Reserve will keep interest rates steady at next week’s meeting.

Market nerves persist, however, due to concerns over the Fed’s independence amid rumors that President Trump may attempt to remove Fed Chair Jerome Powell. Powell has indicated little inclination to lower rates, frustrating the White House and its supporters.

Powell is scheduled to speak later Tuesday, though it remains uncertain if he will comment on monetary policy given the Fed’s usual media blackout ahead of meetings.

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 showed a modest gain on Tuesday, though overall currency market activity remained muted as traders awaited clearer indications on trade negotiations ahead of the looming August 1 deadline. This deadline threatens hefty tariffs on U.S. trading partners that have yet to finalize agreements.

The Japanese yen largely retained its previous session’s gains following Japan’s weekend upper house elections, which unfolded as expected. Market attention now turns to how swiftly Tokyo might secure a trade deal with Washington and the political future of Prime Minister Shigeru Ishiba.

With just over a week remaining before the tariff deadline, U.S. Treasury Secretary Scott Bessent emphasized Monday that the administration prioritizes the quality of trade agreements over rushing their completion. When asked if the deadline might be extended for countries making good progress, Bessent deferred the decision to President Donald Trump.

This uncertainty surrounding the final form and extent of tariffs continues to weigh heavily on forex markets, keeping major currencies confined within narrow ranges—even as U.S. stock indices hit new highs.

“Nothing that happens on August 1 is necessarily permanent, so long as the U.S. administration remains willing to talk, as was indicated in Trump’s letters from two weeks ago,” said Thierry Wizman, global FX and rates strategist at Macquarie Group.

The euro slipped slightly to $1.1692 as investors await this week’s European Central Bank meeting, which is widely expected to leave eurozone interest rates unchanged.

Efforts to forge a deal between the European Union—facing a potential 30% tariff from August 1—and the U.S. remain stalled. EU diplomats revealed on Monday they are considering a broader set of countermeasures given dimming hopes for an agreement.

“The Trump administration has shown little tolerance for retaliatory measures, and there is a risk this could spiral (even if temporarily) into a tit-for-tat tariff escalation. The euro’s ability to maintain preference over the dollar amid tariff tensions will depend on the extent of any escalation and whether the EU emerges as a relative loser while other countries secure significant deals with the U.S.”

In a separate development, the ECB reported Tuesday that loan demand among eurozone companies improved in the last quarter and is expected to rise further, despite the cloud of tariff threats and geopolitical risks.

Against a basket of currencies, the dollar edged up 0.1% to 97.91 after dropping 0.6% on Monday.

Investor concerns also lingered over the Federal Reserve’s independence, as President Trump has repeatedly criticized Fed Chair Jerome Powell and called for his resignation due to the central bank’s reluctance to lower interest rates.

“Our base case remains that solid U.S. data and a tariff- driven rebound in inflation will keep the FOMC on hold into 2026, and that the resulting shift in interest rate differentials will drive a continued rebound in the dollar in the next few months,” said Jonas Goltermann, deputy chief markets economist at Capital Economics. “But that view is clearly at the mercy of the White House’s whims.”

The yen remained a focal point, trading slightly lower at 147.64 on Tuesday after climbing 1% Monday post-election and holiday.

The initial relief for the yen that the ruling coalition did not lose even more seats and that Prime Minister Ishiba plans to hang on to power is likely to prove short-lived,” said Lee Hardman, senior currency analyst at MUFG. “The pick-up in political uncertainty in Japan could complicate reaching a timely trade deal with the U.S., posing downside risks for Japan’s economy and the yen.”

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 declined in Asian markets on Tuesday as traders assessed that recent European sanctions on Russia would have minimal effect on global supply. Meanwhile, growing concerns over a potential trade dispute between the U.S. and the European Union also weighed on prices.

Despite the U.S. dollar weakening sharply and trimming some of its recent gains, crude futures saw little uplift. Brent crude for September delivery dropped 0.5% to $68.86 per barrel, while West Texas Intermediate futures fell 0.5% to $65.61 per barrel as of 21:15 ET (01:15 GMT).

Trade War Concerns Escalate

The oil market remains unsettled amid escalating tensions between Washington and Brussels regarding tariff policies. Reports indicate that the U.S. is pushing for tariffs of at least 15% on European imports, a demand that surprised EU negotiators and prompted threats of retaliatory duties on American products.

ANZ analysts cautioned that this stalemate could dampen economic growth and reduce oil demand, especially if the U.S. implements steep tariffs against the EU. Alongside EU-related tariffs, the U.S. plans to enforce significant duties on other key trading partners starting August 1, including a 25% tariff on Japanese goods, 35% on Canadian products, and 50% on imports from Brazil.

The high tariff rates have raised alarms over their potential to disrupt the global economy and, by extension, hurt crude oil consumption.

Sanctions on Russia Have Limited Influence

Meanwhile, recent European Union sanctions tightening restrictions on Russia’s oil sector failed to bolster prices significantly. Analysts from ANZ expressed skepticism that these measures would substantially curb Moscow’s oil exports.

The sanctions are part of ongoing efforts linked to the Russia-Ukraine conflict, which shows no signs of abating after more than three years. Although the war initially pushed oil prices to near-record levels, markets have since largely factored out the risk of supply disruptions caused by the conflict.

Nonetheless, the U.S. continues to maintain stringent sanctions targeting Russia’s oil industry.

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 slipped on Tuesday as trade friction between the EU and the U.S. cast a shadow over investor confidence, with corporate earnings continuing to pour in.

At 07:02 GMT, Germany’s DAX and France’s CAC 40 each fell 0.2%, while the U.K.’s FTSE 100 remained mostly flat.

Investor sentiment remains fragile following U.S. President Donald Trump’s earlier announcement that a 30% tariff on EU imports will take effect on August 1. Talks are ongoing, but with no clear resolution in sight, the clock is ticking. The EU has reportedly pushed for a 10% baseline tariff, though The Wall Street Journal noted that U.S. officials now want 15% or more, creating further friction.

In response, Germany and other EU nations are reportedly considering broad “anti-coercion” measures that could target U.S. services if the EU cannot strike a deal, according to Reuters, citing EU diplomatic sources.

Earnings Season Keeps Investors Busy

As trade concerns simmer, attention is also fixed on Q2 corporate results. With the euro having jumped 9% in Q2, investors are watching closely for signs of margin pressure among exporters.

• Lindt & Spruengli (TG:LSPN) raised its full-year organic sales growth forecast to 9–11%, up from 7–9%, citing continued demand for premium chocolates.
• Norsk Hydro (TG:A2R0MA) reported a 33% jump in Q2 core profit, buoyed by stronger aluminium and energy prices.
• Julius Baer (TG:JGE) disappointed investors with a 35% year-over-year drop in first-half net income, blaming higher loan loss provisions and a charge from the sale of its Brazilian wealth unit.
• Mitie Group (LSE:MTO) posted a 10.1% year-on-year rise in Q1 FY26 revenue, driven by new contract wins, project delivery, and pricing momentum.

Eyes on the ECB

The macroeconomic calendar is light for Europe today, but all attention turns to Thursday’s ECB policy meeting. Analysts broadly expect the European Central Bank to hold its deposit rate at 2%, following a 25-basis-point cut in June, the ECB’s eighth in 12 months.

While that cut was motivated by weakening inflation and subdued economic activity in the eurozone, the ECB has signaled a likely pause in July, as trade tensions and macro uncertainty continue to cloud the outlook.

Oil Prices Retreat

Crude prices edged lower amid growing fears that a transatlantic trade war could dent global growth and energy demand.

At 03:02 ET, Brent crude dropped 0.4% to $68.94 per barrel, while U.S. WTI futures also slipped 0.4% to $65.67. Both benchmarks had posted marginal losses on Monday.

With U.S. tariffs on EU goods set to hit on August 1, markets remain on edge. The White House has described that date as a “hard deadline”, raising the stakes for ongoing negotiations.

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.

Petershill Partners PLC (LSE:PHLL) reported a 3% beat on market expectations for fee-paying assets under management (FPAUM) in the second quarter of 2025, ending the period with $245 billion—well above the $238 billion consensus.

The upside was driven by earlier-than-expected fundraising activity, which had previously been projected for the second half of the year. Gross organic FPAUM rose by $12 billion in the quarter, significantly ahead of the $7 billion analysts had anticipated.

The company reaffirmed its full-year guidance for 2025, targeting $20–25 billion in gross organic fee-eligible AUM raises, $5–10 billion in realizations, and $180–210 million in partner fee-related earnings (FRE). FPAUM not yet generating fees declined to $3 billion from $4 billion in Q1, reflecting improved fee activation.

Petershill also finalized the divestment of its stake in Harvest Partners for $561 million, marking a 22% premium to the carrying value. The deal includes an initial cash payment of $140 million, with a further $421 million due one year after closing.

While the Harvest transaction is expected to reduce distributable earnings by 4–5% in 2025 and 2026, the company noted it will assess how best to allocate the proceeds. Options include pursuing new acquisitions, strengthening support for current partner firms, or returning capital to shareholders through distributions.

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.

Diaceutics PLC (LSE:DXRX) reported a 22% year-on-year increase in revenue at constant currency for the first half of 2025, reaching £14.6 million—an 18% rise on a reported basis. The diagnostics commercialization firm maintained its full-year revenue growth target of 25%, which would bring total 2025 revenue to around £40 million.

While growth moderated in the final two months of the half, compared to the 35% growth rate seen in the first four months, Diaceutics continues to show progress in transitioning toward a subscription-driven model. Approximately 70% of revenue in H1 was recurring, up from 55% in fiscal year 2024.

The company’s order book stood at £29.4 million as of June 30, up 18% from the end of last year. Of this, £8.8 million is expected to convert to revenue in the second half of 2025, giving Diaceutics 79% visibility on full-year consensus forecasts—an improvement from 71% at the same point in 2024.

Annual Recurring Revenue (ARR) rose 16% year-over-year to £16.4 million, reflecting continued success in deepening client relationships. Diaceutics is now working across 74 therapeutic brands for 43 customers, up from 63 brands in H1 last year. Revenue per brand held steady at around £395,000 on an annualized basis.

Notably, the company secured an additional multi-year enterprise-wide contract worth £0.8 million in ARR, bringing its total to eight such deals spanning 35 brands.

Adjusted EBITDA for the first half was positive, and management remains confident in delivering full-year profitability. Market consensus projects £7.2 million in adjusted EBITDA (an 18% margin) and £1.0 million in net income for FY2025.

Gross cash at mid-year was £10.4 million, down from £12.7 million in December 2024 and £13.7 million in April, though management expects the balance to improve in H2, targeting at least break-even free cash flow for the full year.

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.