Category: Market News

Firering Strategic Minerals plc (LSE:FRG) said it has concluded a US$1 million settlement agreement with Ricca Resources after all related resolutions were approved at Ricca’s Extraordinary General Meeting. The agreement brings to an end all outstanding debts and claims owed by Ricca to Firering, which owns a 10.6% stake in the company.

As part of the outcome, Ricca is also expected to distribute net proceeds arising from the sale of a subsidiary asset. Firering may benefit from this distribution, potentially providing additional upside alongside the settlement. Management noted that the resolution is expected to strengthen Firering’s financial position and improve its standing within the sector.

More about Firering Strategic Minerals plc

Firering Strategic Minerals plc is an emerging quicklime producer and critical minerals explorer. The company is advancing production at the Limeco quicklime project in Zambia, supplying copper producers in the Central African Copperbelt and other regional markets. In parallel, Firering is developing the Atex lithium-tantalum project in Côte d’Ivoire, which offers exposure to lithium and tantalum-niobium, key materials supporting the global transition to clean energy technologies.

Roquefort Therapeutics PLC (LSE:ROQ) said it has amended its exclusive licensing agreement with Coiled Therapeutics, Inc. and A2A Pharmaceuticals, Inc. relating to its AO-252 programme, extending the long stop date to 16 March 2026. The revision follows continued progress in the ongoing Phase I clinical study.

The trial has been broadened to cover patients with all solid tumours, while placing particular emphasis on prostate cancer. Management said this prioritisation is underpinned by encouraging pre-clinical results and constructive engagement with potential commercial partners, reflecting growing interest in new oral treatment options for prostate cancer. The amended agreement provides additional time for upcoming clinical data readouts and includes revised commercial terms, notably an increase in the number of consideration shares, highlighting the perceived value of the AO-252 asset.

More about Roquefort Therapeutics PLC

Roquefort Therapeutics PLC is a biotechnology company listed on the Main Market and focused on the development of novel cancer therapies. Its pipeline is centred on oral, targeted treatments for solid tumours, with a strategic focus on prostate cancer.

Mindflair plc (LSE:MFAI) said its portfolio company Vizgard Limited has been accepted into NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA) 2026 cohort, following a highly competitive selection process that drew close to 4,000 applications. The appointment underscores the strength of Vizgard’s edge-to-cloud technology, which enables automated visual autonomy for defence and security use cases.

Through its participation in the DIANA programme, Vizgard will receive €100,000 in non-dilutive funding and gain access to NATO’s network of test centres and expert mentors. The programme also offers a clearer route into defence procurement channels, supporting Vizgard’s long-term commercial and strategic ambitions within the defence technology sector.

More about Mindflair plc

Mindflair plc is an AIM-listed investment company focused on building and scaling next-generation technology businesses with strong growth potential in artificial intelligence. Its portfolio spans a range of advanced technology areas, including the Internet of Things, cybersecurity, machine learning, immersive technologies, and big data, positioning the company to benefit from rising global demand for AI-driven solutions.

Ajax Resources PLC (AQSE:AJAX) has announced a major step in its growth strategy after signing Heads of Terms to acquire 100% of Pereira Velho Exploração S.A., owner of the Pereira Velho Gold Project in Alagoas, Brazil. The seller, Appian Capital Advisory Limited, is a leading mining-focused private equity group with roughly US$5 billion under management.

Upon completion, Appian will become a meaningful shareholder in Ajax, a move the company says underscores confidence in the project and its broader investment strategy.

The deal fits squarely within Ajax’s goal of securing undervalued natural resource assets with clear potential for near-term production. The Pereira Velho project is a near-surface, scalable gold system with an internal Appian estimate of 110,000 ounces across Measured, Indicated, and Inferred categories.

Acquisition Terms and Project Potential

Ajax will acquire the project for US$400,000 in shares and US$200,000 in cash, followed by a further US$1.5 million share-based payment once a JORC-compliant resource of at least 350,000 ounces at 0.20 g/t Au is published. The agreement also includes a 2.5% NSR royalty that only activates after two consecutive quarters with average gold prices above US$2,500/oz, as well as a buyback right priced at US$1.5 million within three years of production start.

Only 10% of the project area has been drilled to date, yet 6,363 meters of past drilling already confirm wide, shallow zones of oxidised, free-gold mineralisation—conditions that could support a low-cost open-pit, heap-leach operation. The project spans 14,596 hectares with a gold-in-soil anomaly extending more than 2.5 km.

Pereira Velho sits roughly 20 km from Appian’s former Serrote copper-gold mine, acquired for US$30 million in 2018 and sold for US$420 million in 2025, reinforcing the region’s strong geological potential.

Fundraise Secured Through Investor Backing

To support the acquisition and ongoing exploration, Ajax plans to raise up to £1 million through a new share issue. Appian will subscribe for the GBP equivalent of US$400,000 at the placing price.

Commitments from existing investors already total £600,000, with the Board contributing an additional £60,000, meaning the fundraising is effectively secured.

Proceeds will accelerate work at Pereira Velho, advance additional acquisition targets, and strengthen working capital.

Appian’s View

In a statement, Appian said: “Appian is pleased to back Ajax and its strategy of advancing high-quality gold and multi-commodity opportunities. We have strong confidence in the company’s management team, and its focus on identifying and developing underappreciated assets with unrealized potential closely aligns with our investment philosophy and commitment to long-term value creation.

This alignment is evident in the Pereira Velho project. In a robust gold price environment, we believe Pereira Velho offers compelling upside. The 6,363 metres of diamond drilling completed to date demonstrate strong exploration potential and reveal a mineralised system that warrants further exploration. Moreover, the project is situated in a highly prospective region where Appian successfully brought Mineração Vale Verde – an attractive mid-scale copper-gold open-pit operation – into production, further reinforcing our confidence in the area’s geological potential.

With this foundation, we look forward to supporting Ajax as it progresses Pereira Velho and other aligned opportunities.”

Comment from Ajax’s CEO

Ajax CEO Ippolito Ingo Cattaneo described the deal as transformational: “We are delighted that Appian, a leading global private equity investor with approximately US$5 billion in assets under management investing exclusively in metals, mining and related natural-resource companies, will become a significant shareholder in Ajax upon completion. This represents a transformational growth opportunity for the Company and an endorsement of our development strategy.

The Proposed Acquisition of Pereira Velho is a compelling, scalable gold production opportunity fully aligned with our strategy of acquiring assets with significant unrealised potential on advantageous terms. It has near-surface mineralisation, a strong recent drilling dataset underpinned by approximately US$5 million in historical expenditure, and a prospective resource base, of which only a small portion has been developed, resulting in an Appian in-house mineral resource estimate of approximately 110,000 ounces across the Measured, Indicated and Inferred categories.

Pereira Velho is in a proven mining district with strong geological prospectivity… With gold prices at or near record levels, we see a clear route for Pereira Velho to achieve its first milestone of 350,000 ounces… and the objective of progressing the Proposed Acquisition to a near-term open-pit gold operation with material resource scale growth potential.”

He added that the new partnership with Appian will open doors to future opportunities from Appian’s large portfolio of high-quality assets and strengthens Ajax’s long-term development pathway.

U.S. stock futures signaled a weaker start on Thursday, suggesting markets may surrender some of the gains notched in the previous session.

Oracle (NYSE:ORCL) is expected to be a major headwind at the open, with shares tumbling 13.1% in premarket trade after the tech firm delivered mixed quarterly results — earnings ahead of expectations but revenue coming up short.

The slide spilled over into other artificial intelligence–linked names. Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) were both under pressure before the bell, hinting at renewed caution over lofty AI-related valuations.

Investors are also recalibrating expectations for interest rates following the Federal Reserve’s latest policy announcement. While the central bank cut rates by 25 basis points on Wednesday, as anticipated, policymakers were divided over the outlook for additional easing, injecting fresh uncertainty into the market.

Stocks drifted for much of Wednesday’s session before turning higher late in the afternoon after the Fed’s decision. All three major indices finished the day in positive territory, reversing Tuesday’s hesitant performance.

The Dow surged 497.46 points, or 1.1%, to 48,057.75. The S&P 500 gained 46.17 points, or 0.7%, to 6,886.68, while the Nasdaq advanced 77.67 points, or 0.3%, to close at 23,654.16.

Markets reacted to the Fed’s announcement that it had approved a third consecutive quarter-point rate cut, reducing the federal funds target range to 3.50%–3.75%. However, the decision exposed significant divisions on the Federal Open Market Committee — the first time three dissents have surfaced since September 2019.

Fed Governor Stephen Miran pushed for a 50-basis-point reduction, while Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeffrey Schmid preferred to maintain current rates.

The Fed’s economic projections signaled similarly uneven views, with the median forecast calling for one more rate cut in 2026, but the so-called dot plot showing widely varied expectations — ranging from rates as low as 2.0%–2.25% to estimates above the current level.

Those contrasting viewpoints highlight the challenge the Fed faces in balancing its mandate for maximum employment and stable 2% inflation.

Despite the policy split, some traders are positioning for a more dovish environment ahead — particularly as markets anticipate a leadership shift under President Donald Trump.

“We’re not surprised to see near term optimism in the markets given that the Fed continues to cut rates even though the economy is growing,” said Chris Zaccarelli, Chief Investment Officer for Northlight Asset Management.

He continued, “However, we think the rose colored glasses may come off once investors realize that the path to lower interest rates may take longer – or may not materialize at all – to the extent that they believe it will.”

Rate-sensitive stocks jumped after the Fed’s announcement. Housing names rallied sharply, lifting the Philadelphia Housing Sector Index 3.1%. Transportation stocks also showed notable strength, with the Dow Jones Transportation Average rising 2.7%.

Banks, hardware makers, and pharmaceuticals also traded higher, while software names lagged and moved broadly lower.

European equities saw modest gains on Thursday after opening on a subdued note, with traders continuing to assess the Federal Reserve’s latest rate cut and Chair Jerome Powell’s cautious tone during his post-meeting remarks.

As anticipated, the Fed trimmed its benchmark interest rate by 25 basis points on Wednesday. Powell later emphasized that policymakers will need to “wait and see” before deciding on additional action. While Fed officials penciled in only one more rate cut in their 2026 projections, market participants continue to wager that the risks lean toward more aggressive easing.

In Switzerland, the Swiss National Bank opted to keep its main policy rate at 0%. The decision follows November inflation data showing price growth at zero, the bottom of the SNB’s target range of 0%–2%.

Against this backdrop, major European benchmarks moved higher in early trading. France’s CAC 40 rose 0.6%, Germany’s DAX advanced 0.3%, and the UK’s FTSE 100 hovered marginally above the flat line.

UK Market Movers

The top performer in the FTSE 100 was The Magnum Ice Cream Company (LSE:MICC), jumping 4.8%. Ashtead Group (LSE:AHT) climbed 4%, while Convatec Group (LSE:CTEC), Berkeley Group Holdings (LSE:BKG), Weir Group (LSE:WEIR), Whitbread (LSE:WTB), Pearson (LSE:PSON), Sainsbury (J) (LSE:SBRY), Diageo (LSE:DGE) and Metlen Energy & Metals (LSE:MTLN) posted gains between 1.5% and 2.4%.

Entain (LSE:ENT) slid 3.7%, making it one of the session’s weakest names. Associated British Foods (LSE:ABF) and Informa (LSE:INF) declined 2.1% and 1.2%, respectively. Lloyds Banking Group (LSE:LLOY), NatWest (LSE:NWG), The Sage Group (LSE:SGE) and Smith & Nephew (LSE:SN.) saw moderate declines.

Germany’s DAX Movers

Daimler Truck Holding, Merck, Munich RE, Heidelberg Materials, Siemens, Deutsche Post, Brenntag, Rheinmetall, Commerzbank, BASF, Continental and Beiersdorf all traded higher, advancing between 1% and 3%.

Symrise slipped about 3%, while Deutsche Börse, E.ON and SAP fell 2.2% to 2.7%. BMW also retreated, losing around 1.4%.

French Market Highlights

Schneider Electric was among the strongest performers, rising roughly 3%. The move followed the company’s announcement of a planned share buyback totaling €2.5–€3.5 billion and a divestment program of €1.0–€1.5 billion in revenues, both to be completed by 2030.

Teleperformance (TP) gained 3.5%. Saint-Gobain, Capgemini and Carrefour advanced 2.3% to 3%. VINCI, Pernod Ricard and AXA also recorded notable increases.

On the downside, Stellantis, Renault and Legrand fell 3.2%, 2.5% and 2.1%, respectively. STMicroelectronics dipped by around 1.6%.

Power Probe PLC (LSE:PWR), a manufacturer of automotive electrical diagnostic equipment, began trading on London’s AIM on Thursday after securing roughly $15 million (£11.2 million) through the placement of 13.7 million new ordinary shares priced at 82 pence each.

The company, headquartered in North Carolina, listed under the ticker “PWR” with an initial market value of about £60 million. Shore Capital served as both nominated adviser and sole bookrunner for the offering.

Established in 1992, Power Probe develops and distributes more than 120 products spanning seven categories, including powered circuit probes, testing kits, and precision measurement tools. Its product lineup is designed to operate with all major vehicle engine types and manufacturers.

The IPO proceeds will be used to build a new U.S. production facility, expand its engineering workforce, grow its geographic footprint—including the enhancement of its UK distribution hub in Nuneaton—and support general working capital needs.

“Our IPO is a major milestone and exciting moment for Power Probe,” said Chief Executive Officer Chema Garcia in a press release. “Our admission to AIM marks a new chapter in that journey and will enable us to deliver on our ambitious growth plans.”

The company highlighted that revenue increased from approximately $25.0 million in 2022 to $31.3 million in 2024, a compound annual growth rate of 12%. For the first six months of 2025, Power Probe reported revenue of $20.5 million and underlying EBITDA of $5.3 million.

Looking ahead, management intends to introduce a progressive dividend strategy, aiming for a payout ratio of roughly 50% of profit after tax, with initial distributions planned for 2026.

Brunello Cucinelli (BIT:BC) rose 2.9% on Thursday after the Italian luxury label unveiled a stronger revenue outlook for 2025 and reaffirmed expectations for 2026.

The company, headquartered in Solomeo, now anticipates sales growth of 11% to 12% at constant exchange rates for 2025—comfortably above its earlier forecasts. At current rates, growth is expected to come in around 10%, supported by “healthy profit growth” and “very solid margins.”

Management highlighted “excellent sales throughout the year” alongside a “very, very positive” fourth quarter, during which the business expects double-digit revenue expansion at constant exchange rates. This follows a 12.5% rise in the third quarter, despite facing tougher year-on-year comparisons, especially in retail.

For 2026, Brunello Cucinelli confirmed its expectation of roughly 10% revenue growth, underpinned by strong Spring/Summer 2026 orders and robust winter sell-out trends.

The brand also noted that it has completed its 2024–2026 Made in Italy investment program a full year early. The initiative included doubling production capacity at its Solomeo site and opening additional outerwear facilities in Penne and Gubbio.

Founder Brunello Cucinelli recently received the prestigious “Outstanding Achievement Award” from the British Fashion Council, an accolade previously granted to industry legends such as Karl Lagerfeld, Ralph Lauren, and Giorgio Armani.

Looking ahead, the company plans to debut an AI-enhanced e-commerce platform in mid-January 2026, describing it as a “true invention” that will elevate the customer experience.

Bram Goorden, CEO of IXICO (LSE:IXI), recently provided an update on the company’s financial performance and strategic vision following the release of its financial results for the year ending September 30, 2025. The interview highlighted IXICO’s continued focus on AI-driven neuroimaging and its commitment to scalable, technology-led solutions for neurological diseases.

Setting the Stage for Sustainable Double-Digit Growth

IXICO, which specializes in AI-driven imaging analysis as a service for pharma and biotech companies developing novel drugs, reported a strong financial turnaround. Goorden noted a 13% growth for the past year and is predicting at least 15% for the upcoming year. He emphasized that the primary business objective is to expand the market and achieve “double digit growth numbers and that we make them sustainable.”

Leveraging Technology for Margin Expansion

A key component of IXICO’s forward-looking strategy is scaling its AI-driven analytics to expand margins. Goorden described this as a “very exciting” second phase, which will involve “leveraging our technology and partnering our technology also with some of these other service providers in the ecosystem.”

Over the next 12 to 24 months, the company plans to not only grow its core CRO (Clinical Research Organization) services but also collaborate with external partners to maximize the use of its proprietary technology, thereby achieving greater profitability.

Dominance in Neurodegenerative Disease

When addressing the competitive landscape in neuroimaging, Goorden clearly defined IXICO’s strategic differentiator: a deep and long-standing focus on neurodegenerative diseases—specifically Alzheimer’s, Parkinson’s, and rare CNS (Central Nervous System) conditions.

After 20 years in the field, Goorden stated that IXICO is an “absolute leader” in this niche. By focusing on neurology, the company is deliberately “staying away… from that red ocean which oncology or cardiology could represent.” This specialized approach is reinforced by a continuous commitment to investing in novel algorithms on their platform, which serves as a core competitive advantage in supporting research for CNS diseases.

Strategic Market and Disease Prioritization

Geographically, IXICO remains a global business, serving the development programs of major pharmaceutical and biotech firms worldwide. While “most of our revenues are coming from the other side of the pond… so in the US,” the company anticipates further expansion, particularly in the biotech arena along the Northeast coast of the US, alongside continued strength in Europe.

In terms of therapeutic areas, the company is committing to going “much deeper” into the dementia space, especially Alzheimer’s, citing a clear unmet need and a place where pharma is “really doubling down their investments.” Furthermore, IXICO plans to maintain its traditionally strong position in rare CNS diseases like Huntington’s disease, where they believe they “own that market.”

In summary, Goorden concluded that IXICO’s strategy involves “expanding further but always in that neurodeenerative disease space which we do believe is very fertile ground.”