ADVFN UK Market News

Category: Market News

  • FTSE 100 today: Stocks slide further as oil tops $100 and UK growth stalls

    FTSE 100 today: Stocks slide further as oil tops $100 and UK growth stalls

    UK equities extended their recent decline on Friday, while the pound slipped below $1.33, as escalating Middle East tensions kept oil prices above $100 per barrel. Investor sentiment was further dampened by weaker-than-expected UK economic data showing the economy failed to grow in January.

    By 08:54 GMT, the blue-chip FTSE 100 index had fallen 0.7%. Sterling also weakened, with GBP/USD down 0.6% to 1.3265. European markets were similarly under pressure, with Germany’s DAX declining 0.7% and France’s CAC 40 losing 0.9%.

    Iran latest update

    Iran’s Supreme Leader Mojtaba Khamenei said Friday that the Strait of Hormuz will remain closed, with Iran effectively blocking maritime traffic to use the blockade as leverage against Western nations.

    Separately, the United States moved to ease sanctions on Russian oil in an attempt to reduce upward pressure on global energy prices.

    UK round up

    New economic data showed the UK economy failed to expand in January, missing expectations and raising fresh concerns about the country’s resilience ahead of rising energy costs linked to the Middle East conflict.

    The Office for National Statistics said gross domestic product was unchanged month-on-month at 0.0% in January, below economists’ forecasts for a 0.2% increase. The figures were released Friday before oil prices surged further amid the regional tensions.

    UK government bond prices declined, pushing yields higher. The 10-year gilt yield climbed to 4.817%, its highest level since September. Yields on five-year and 10-year gilts increased by roughly three to four basis points shortly after trading began.

    Housebuilder Berkeley Group Holdings (LSE:BKG) reiterated its annual profit guidance but cautioned that geopolitical uncertainty and macroeconomic pressures are weighing on housing demand. The company said it still expects pre-tax profit of about £450 million for the current financial year and a similar level for fiscal 2027, while targeting a net cash position of around £300 million by year-end.

    Shares in radiator manufacturer Stelrad Group (LSE:SRAD) declined after the company reported annual revenue of £279.6 million, down 3.8% from the previous year amid ongoing economic uncertainty across its key markets in the UK, Ireland and Europe. “Market demand remains subdued and we expect this to continue for at least first half of 2026,” Stelrad said.

    Property investor CLS Holdings (LSE:CLI) also fell, becoming the largest decliner on the FTSE small-caps index. The company said economic conditions across Europe remain challenging and noted that it is too early to gauge the potential short- or long-term effects of the Middle East conflict on the region’s economies and property markets. CLS reported that its 2025 net rental income dropped around 11% to £101.3 million.

  • Glenveagh Properties Maintains 2026 Guidance with Strong Order Book

    Glenveagh Properties Maintains 2026 Guidance with Strong Order Book

    Glenveagh Properties (LSE:GLV) has reiterated its guidance for the 2026 financial year, with management expressing confidence in the group’s growth outlook and ability to generate stronger cash flows.

    The company left its FY26 targets unchanged across its business segments. Within its housebuilding division, Glenveagh expects to complete around 1,600 homes with an average selling price above €375,000 and a gross margin exceeding 21%.

    Its partnerships division is forecast to deliver a mid-teen gross margin while generating average annual gross profit of at least €60 million.

    Across the group, Glenveagh is targeting total completions of approximately 2,750 units, €45 million in land sales and earnings per share of 21 cents. The company noted that construction has already begun on all homes scheduled for delivery in 2026, with a housebuilding order book of 1,252 units representing about 78% of planned completions.

    Management said a significant share of the year’s construction costs are already locked in, allowing the company to maintain its margin expectations.

    The group also indicated that earnings are likely to be weighted toward the second half of 2026 due to the timing of deliveries from development sites acquired in late 2024.

    Glenveagh added that its existing land bank requires no significant additional investment to sustain annual delivery levels of between 2,750 and 3,600 units through to 2030.

    The company expects a notable improvement in cash generation during 2026, particularly in the second half of the year, driven by higher completion volumes and the release of €142 million tied up in contract assets.

    Meanwhile, the €25 million share buyback programme announced in January is expected to continue until around May. Management indicated that stronger cash generation in the latter part of 2026 should support further reinvestment and allow room for additional shareholder returns.

    Within the partnerships division, Glenveagh added 100 units across three projects currently in advanced negotiations, bringing the total under discussion to 500 units. The company also disclosed for the first time that its development pipeline exceeds 7,000 units, representing an estimated €3 billion in net developable value.

    More about Glenveagh Properties

    Glenveagh Properties is an Irish homebuilder focused on delivering large-scale residential developments across Ireland. The company operates through its housebuilding and partnerships divisions, supplying homes for both private buyers and institutional partners. Glenveagh aims to scale production while maintaining strong margins and cash generation, supported by a sizeable land bank and a growing development pipeline.

  • ECR Minerals plc Outlines Initial Mining Plan for Raglan Gold Project

    ECR Minerals plc Outlines Initial Mining Plan for Raglan Gold Project

    ECR Minerals plc (LSE:ECR) has outlined its initial mining plan for the Raglan gold project in Queensland, Australia, supported by internal economic estimates based on deliberately conservative assumptions. The company’s chairman, Nick Tulloch, discussed the strategy and broader portfolio development during an interview on The Watchlist with host Ricki Lee.

    The plan represents the first step in the company’s strategy to move toward in-house production and revenue generation, while continuing to expand its gold project pipeline across the region.

    Conservative Assumptions for Phase One Economics

    According to Nick Tulloch, the economic assumptions used in the Raglan analysis were intentionally conservative as the company begins early-stage operations.

    ECR Minerals based its calculations on the lowest grade recorded from test pits, using a gold grade of 0.12 grams per bank cubic metre (g/bcm).

    Tulloch explained that in alluvial mining, grade and volume are the key drivers of profitability.

    “Alluvial mining is all about the grade and the volume. We’ve taken the very lowest grade from the test pits that have been dug to date,” Tulloch said.

    If further testing demonstrates higher grades within the deposit, the project’s economics could improve quickly because higher gold content would increase recoverable ounces across the same mined volume.

    Proving that the actual grade across Raglan exceeds the conservative 0.12 g/bcm benchmark is therefore one of the next priorities for the company.

    Geological Advantages of the Historic River Channel

    The Raglan project sits within a historic river channel system, which provides significant operational advantages compared with deeper underground gold deposits.

    Unlike traditional hard-rock gold mining, alluvial mining at Raglan requires only shallow excavation.

    Tulloch noted that mining depths are expected to range between two and four metres, as the bedrock lies relatively close to the surface.

    This shallow geological setting simplifies operations in several ways:

    • Lower mining costs, due to minimal excavation depth
    • Simpler access to gold-bearing gravels
    • Clear geological mapping, as the ancient river channel acts as a guide for the mineralised zone

    Although the river system no longer contains water, the shape and direction of the former channel can still be traced through the ground, helping define the initial mining area.

    The current internal estimate of approximately $7 million in potential value is derived solely from the main historic riverbed, excluding additional geological features such as side channels and gullies.

    Building a Production-Focused Strategy

    Beyond Raglan, ECR Minerals plc is advancing several additional assets in Queensland, including Blue Mountain and the Lolworth project, both of which offer larger-scale opportunities.

    Tulloch emphasised that the company’s strategy differs from many small-cap exploration firms that typically discover resources and then sell or farm them out to larger mining companies.

    Instead, ECR intends to develop projects internally and build a production-driven business model.

    “Small cap companies often find a resource and then farm it out to a larger company. We’re doing this in-house,” Tulloch said.

    Under this strategy:

    • Raglan serves as the first step toward generating revenue
    • Blue Mountain represents the next stage with a larger land package
    • Lolworth offers a district-scale opportunity with long-term potential

    Lolworth: A District-Scale Opportunity

    While Raglan is expected to provide the company’s initial cash flow, Tulloch highlighted Lolworth as a project that could ultimately define the company’s long-term identity.

    The project spans a large district-scale area and has already demonstrated multi-million-ounce potential, making it a significant strategic asset for the future.

    If ECR successfully establishes itself as a profitable alluvial gold producer, Tulloch believes projects such as Lolworth could become cornerstone assets for the company over the coming years.

    Focus on Cash Generation

    For now, however, the company’s priority remains clear: generating revenue through production.

    Tulloch said ECR’s capital allocation strategy is tightly focused on projects capable of delivering cash flow, which is why Raglan and Blue Mountain will remain central to company activity throughout the year.

    Investors should therefore expect continued operational updates and progress reports from these two projects as development advances.

    Outlook

    With its initial mining plan in place for Raglan and a broader pipeline of gold projects across Queensland, ECR Minerals plc is positioning itself to transition from exploration into production and cash generation.

    If successful, the approach could allow the company to build a sustainable mining business while retaining full ownership of its assets, rather than relying on partnerships with larger operators.

    As Tulloch concluded, the immediate objective is straightforward: deliver production at Raglan and use that momentum to develop the company’s wider portfolio.

    For more information on ECR Minerals Plc please visit – https://ecrminerals.com/

  • Jangada Mines Hits High-Grade Gold in Brazil as Paranaíta and Molly Projects Advance

    Jangada Mines Hits High-Grade Gold in Brazil as Paranaíta and Molly Projects Advance

    Jangada Mines (LSE:JAN) has reported promising results from Stage 1 diamond drilling at its Paranaíta Gold Project in Brazil. The 1,100-metre programme, comprising 10 drill holes at the TP2 target, intersected gold mineralisation in every hole. Among the highlights was an intercept of 1.32 metres grading 43.61 g/t gold, supporting the continuity of the mineralised system and indicating it remains open for further exploration. The company plans additional drilling, resource modelling and further geophysical and geochemical studies to upgrade and expand the project’s current inferred resource of around 210,000 ounces toward JORC classification. Drilling is also progressing at the Molly Project, which already hosts a 130,000-ounce JORC-compliant resource and has produced strong sulphide-bearing intercepts that point to further resource expansion potential.

    Management believes the shallow vein-swarm style mineralisation identified at Paranaíta could be suitable for a relatively low-cost open-pit development, with a conceptual production target of roughly 20,000 ounces of gold per year. The latest drilling and trenching results are expected to support a revised geological model and inform a second-phase drilling campaign targeting multiple prospects along an approximately 8-kilometre corridor. Success at both Paranaíta and Molly could strengthen the company’s position in Brazil’s gold sector by demonstrating scalable, open-pit-friendly resources across its project portfolio.

    The company’s outlook remains constrained by its financial profile, including its pre-revenue status, ongoing operating losses and continued cash burn, although it currently carries no debt. Technical indicators provide a more positive signal, with the share price trading above key moving averages and showing moderately positive momentum. However, valuation remains limited due to negative earnings and the absence of dividend support.

    More about Jangada Mines PLC

    Jangada Mines is an AIM-listed natural resources company focused on developing mining assets in Brazil, particularly gold projects in the Mato Grosso region and other established gold provinces. Its portfolio includes the Paranaíta Gold Project in the Alta Floresta-Juruena Gold Province and the Molly Gold Project, where the company aims to define shallow, open-pittable gold resources that could be developed with relatively low capital requirements.

  • Cadence Advances Azteca Plant Works as Amapá Licensing Progresses

    Cadence Advances Azteca Plant Works as Amapá Licensing Progresses

    Cadence Minerals (LSE:KDNC) has completed detailed mechanical and electrical engineering work for the Azteca plant at its Amapá Iron Ore Project in Brazil and has begun procuring key refurbishment components ahead of a planned 90-day execution phase. Initial site activities, including structural repairs, the removal of equipment for off-site refurbishment and the procurement of long-lead items, are scheduled to begin in March under existing authorisations.

    These preparations are intended to provide greater flexibility within the project’s development schedule while maintaining the current timetable, with commissioning of the Azteca plant targeted for the end of June, subject to the finalisation of remaining permits. Several Installation Licence requirements—including archaeological approvals, water abstraction permissions and tailings-related authorisations—are progressing concurrently. Once operational, Azteca is expected to serve as the first production centre, generating early cash flow from tailings while supporting the broader redevelopment of the Amapá project into a 5.5 million tonne per year direct-reduction grade iron ore operation.

    The company’s outlook remains constrained by weak financial fundamentals, including several years of losses, declining revenue and continued negative free cash flow, although the balance sheet carries relatively low debt. Technical indicators provide a positive counterbalance, with the share price trading above key moving averages and showing upward momentum. Valuation metrics remain limited due to negative earnings and the absence of dividend support.

    More about Cadence Minerals

    Cadence Minerals is a UK-listed resources investment company focused on the development and financing of mining assets, with a particular emphasis on iron ore. Its principal investment is a 35.9% stake in the Amapá Iron Ore Project in Brazil, an integrated operation combining mine, rail, port and beneficiation infrastructure designed to produce high-grade direct reduction concentrate for global steel markets.

  • Anglo Asian Mining Names Peel Hunt as Broker to Support Copper-Focused Growth

    Anglo Asian Mining Names Peel Hunt as Broker to Support Copper-Focused Growth

    Anglo Asian Mining (LSE:AAZ), an AIM-listed producer of gold, copper and silver operating in Azerbaijan, continues to expand its asset base as it works toward becoming a mid-tier copper and gold producer. The company currently operates several mines, including the recently commissioned Gilar and Demirli sites, and plans to bring additional projects at Xarxar, Garadag and Zafar into production between 2027 and 2030. Through these developments, Anglo Asian aims to increase annual copper output to roughly 50,000–55,000 tonnes by the end of the decade.

    The company has appointed Peel Hunt LLP as its new corporate broker with immediate effect, while S P Angel will continue in its role as nominated adviser. The addition of Peel Hunt is expected to enhance Anglo Asian Mining’s capital markets capabilities and strengthen engagement with investors as the group advances its long-term growth strategy and expands copper-focused production.

    The company’s outlook remains constrained by weaker financial performance, including declining revenues, negative margins and deteriorating free cash flow. Valuation metrics are also difficult to assess due to negative earnings. However, these factors are partly offset by strong technical momentum, with the share price trading above key moving averages and supported by positive trend indicators.

    More about Anglo Asian Mining

    Anglo Asian Mining is an AIM-listed mining company producing copper and gold from a portfolio of assets in Azerbaijan. In 2025 the company produced 7,915 tonnes of copper and 25,061 ounces of gold. It is pursuing a strategy to develop multiple mines and transition into a mid-tier producer by 2030, with copper expected to become its primary product.

  • Berkeley Group Reaffirms Profit Guidance and Doubles Down on London, Cash and BTR

    Berkeley Group Reaffirms Profit Guidance and Doubles Down on London, Cash and BTR

    Berkeley Group (LSE:BKG) has reiterated its expectation of around £450 million in pre-tax profit for the current financial year, with a similar level forecast for FY27. The company also continues to target a net cash position of roughly £300 million, even as it manages significant land creditor settlements and maintains substantial shareholder returns. Berkeley has returned £191 million to shareholders so far this year and £330 million since launching its Berkeley 2035 strategy, while continuing to invest in its Berkeley Living build-to-rent (BTR) platform.

    Management said the trading environment remains challenging due to geopolitical tensions and broader macroeconomic uncertainty. However, it noted signs of improvement in reservation values and emphasised the long-term strength of London as a global centre for finance and technology. The group is reviewing planning consents in an effort to restore margins and is navigating complex Building Safety Regulator processes that have slowed the delivery of new homes. Looking beyond 2027, Berkeley plans to prioritise cash generation, maintain balance sheet strength and optimise its land portfolio while continuing to expand its BTR strategy.

    The company’s outlook is supported by attractive valuation metrics, including a relatively low price-to-earnings ratio and a strong dividend yield that may indicate potential undervaluation. However, technical indicators currently point to a bearish trend, and financial performance reflects ongoing pressures around revenue growth and cash flow generation. Recent corporate developments nonetheless provide some support to the broader outlook.

    More about The Berkeley Group Holdings

    The Berkeley Group Holdings plc is a leading UK residential developer with a strong focus on London and other major urban markets. The company specialises in large-scale regeneration and residential developments, including build-to-rent schemes through its Berkeley Living platform. Berkeley aims to balance cash generation, resilient margins and shareholder returns while navigating the cyclical dynamics of the housing market.

  • CLS Holdings Tightens Balance Sheet as Earnings Fall on Higher Vacancy and Valuation Hits

    CLS Holdings Tightens Balance Sheet as Earnings Fall on Higher Vacancy and Valuation Hits

    CLS Holdings (LSE:CLI) reported weaker results for 2025, with EPRA earnings per share declining 17.4% and net rental income down 11.1%. The performance was affected by property disposals, increased vacancy levels and portfolio valuation write-downs, leading to a statutory loss of £50.3 million for the year. The value of the group’s property portfolio fell 3.8% in local currency terms, while EPRA net tangible assets per share decreased 6.7%. As a result, the company reduced its full-year dividend to 4.0p per share, though the payout remains within the parameters of its dividend policy.

    Despite the weaker earnings, CLS took steps to strengthen its financial position. Net debt was reduced by £86.2 million, and the company refinanced or repaid £373.7 million of borrowings during the year. The average cost of debt remained stable at 3.8%, while the loan-to-value ratio improved slightly to 50.0%. Management is now focusing on lowering vacancy rates and reinforcing the balance sheet, with plans to dispose of £100 million to £150 million in assets during 2026. The company is also progressing the sale of its Spring Gardens redevelopment and offering an enhanced scrip dividend option to conserve cash while positioning the portfolio for a potential medium-term recovery.

    The company’s outlook remains influenced by financial pressures, including relatively high leverage and recent losses. However, ongoing corporate actions and broadly stable technical indicators offer some support. CLS also maintains an elevated dividend yield that may appeal to income-focused investors, though valuation remains challenged by negative earnings.

    More about CLS Holdings

    CLS Holdings is a London-listed commercial property investment company focused on office real estate across the United Kingdom, Germany and France. The group manages a portfolio valued at approximately £1.7 billion and aims to act as a sustainability-focused landlord specialising in high-quality, multi-let office assets in Europe’s three largest economies. It combines active asset management with local market expertise to support long-term portfolio growth.

  • EnSilica Secures £9.7m in Oversubscribed Placing to Fund Growth Push

    EnSilica Secures £9.7m in Oversubscribed Placing to Fund Growth Push

    EnSilica (LSE:ENSI) has raised around £9.7 million in gross proceeds through a heavily oversubscribed equity placing and subscription priced at 47 pence per share. The offering attracted participation from both new and existing institutional investors. Due to limited existing share issuance authorities, the fundraising will be completed in two stages: the first tranche, consisting of 9.66 million shares, is expected to be admitted to trading on AIM on or around 17 March 2026, while the second tranche will require shareholder approval at a general meeting scheduled for 7 April 2026.

    The net proceeds will be used to support the company’s growth strategy, including accelerating development of new products and projects and advancing its expanding contract pipeline across specialist semiconductor markets. EnSilica also plans to launch a separate retail offer through the BookBuild platform, open until 17 March 2026. Participation by the company’s chief financial officer and the resulting dilution of the chief executive’s shareholding highlight governance transparency as EnSilica broadens its shareholder base. Following admission of the first tranche, total voting rights are expected to exceed 106 million shares.

    The company’s outlook remains constrained by weak financial performance, including declining revenues, ongoing losses and a sharp deterioration in free cash flow, although its balance sheet maintains moderate leverage. Technical indicators provide a counterbalance, with the share price trading well above major moving averages and showing strong upward momentum, though some indicators suggest the rally may be approaching stretched levels. Valuation metrics also remain limited due to negative earnings and the absence of a dividend yield.

    More about EnSilica PLC

    EnSilica plc is a fabless designer of application-specific semiconductor chips specialising in RF, millimetre-wave, mixed-signal and complex digital integrated circuit design. The company serves clients across sectors including space and communications, industrial, automotive and healthcare. By leveraging reusable intellectual property and silicon platform technologies, EnSilica aims to shorten development cycles, reduce design risk and create recurring revenue streams through long-term supply agreements.

  • Thruvision Wins Orlando Airport Contract as U.S. Aviation Adoption Grows

    Thruvision Wins Orlando Airport Contract as U.S. Aviation Adoption Grows

    Thruvision Group (LSE:THRU) has secured a US$0.6 million order from the Greater Orlando Aviation Authority to deliver five 81-Series walk-through security systems for screening aviation workers at Orlando International Airport. The battery-powered, mobile units—supplied with two years of enhanced support and a new base feature—extend Thruvision’s presence in the U.S. airport sector to five locations, following a recent contract at Seattle-Tacoma International Airport.

    The contract reflects increasing adoption of Thruvision’s non-contact, high-throughput screening technology as airports respond to heightened regulatory scrutiny and operational demands around employee access points. By offering mobile and compliant systems that enable rapid screening without disrupting workforce flow, the company continues to strengthen its position within the U.S. aviation market as well as across critical infrastructure security environments globally.

    The company’s outlook remains largely constrained by weak financial performance, including declining revenues and ongoing losses. Technical indicators currently provide broadly neutral signals, while valuation metrics remain negative and weigh on the overall investment profile. The absence of recent earnings call commentary or notable corporate events also limits additional visibility into the company’s forward outlook.

    More about Thruvision Group plc

    Thruvision Group plc is an international developer and manufacturer of walk-through security screening technology designed to process large numbers of people quickly and safely. Its AI-enabled systems detect concealed metallic and non-metallic objects in real time and are used by government and commercial organisations in more than 30 countries. The company maintains offices and manufacturing operations in both the UK and the United States.