Category: Market News

Oil prices fell in Asian trading on Tuesday, giving back some of the previous session’s gains as traders balanced the potential for new U.S. sanctions on Russia with signs of progress toward ending the conflict in Ukraine.

As of 21:45 ET (01:45 GMT), Brent crude for October delivery dropped 0.5% to $68.46 per barrel, while West Texas Intermediate (WTI) crude declined 0.6% to $64.44 per barrel. Both benchmarks had climbed nearly 2% on Monday following Ukrainian drone strikes on Russian oil and gas infrastructure, which raised supply concerns.

Geopolitical Tensions Drive Market Sentiment

The Ukraine war remains the key factor influencing oil markets. U.S. President Donald Trump has sought to cast himself as a mediator, warning last week that he would impose fresh sanctions on Moscow if a peace deal is not reached within two weeks.

Vice President J.D. Vance noted that Russia had made “significant concessions,” including security guarantees for Ukraine, though Western diplomats cautioned that Moscow has yet to commit to a binding framework. Trump has proposed a trilateral summit with Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin, although no date has been confirmed.

The potential for a peace agreement has raised concerns about a global oil supply surplus, particularly if U.S. sanctions on Russian crude are eased as part of a deal. Nonetheless, prices remain supported as optimism over a possible Russia-Ukraine ceasefire has tempered, and additional U.S. restrictions on Russian oil could provide further support.

Trade Developments: U.S. Tariffs on India

On the trade front, the U.S. plans to impose an extra 25% tariff on Indian goods starting August 27, bringing the total tariff to 50%, in response to India’s increased purchases of Russian oil. Indian officials have expressed frustration over the measures, emphasizing the need to protect key national interests.

Some Indian oil processors have indicated they will continue importing Russian crude, suggesting that sustained demand could help support global oil prices.

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.

Ashtead Technology (LSE:AT.) saw its shares rise sharply on Tuesday after reporting higher revenues and profits for the first half, despite headwinds from U.S. tariffs and slower activity in stalled offshore wind projects. The results broadly aligned with market expectations.

Ashtead shares were up 12.5% at 387p as of 07:34 GMT. Revenue increased 23.2% year-on-year to £99.1 million, driven by organic growth and contributions from the Seatronics and J2 Subsea acquisitions. This compared with a Visible Alpha consensus forecast of £98.9 million.

“After an encouraging start to the year, Ashtead Technology experienced a slower seasonal ramp up in activity through Q2. This resulted in first half revenues being below our initial expectations for the period at £99.1m,” the company said.

Adjusted EBITA reached £27 million, slightly below the £27.7 million consensus, with a margin of 27.3%. Adjusted profit before tax rose 10% to £21.6 million. Adjusted EBITDA came in at £38.3 million versus expected £39.2 million, while operating profit reached £23.2 million against a £24.1 million consensus. Earnings per share were 17.2 pence, in line with the 17 pence forecast.

The company reaffirmed its full-year guidance, after having lowered revenue forecasts for fiscal 2025 in a July trading update.

RBC Capital Markets analysts noted that many of Ashtead’s oil and gas customers continued to see growth in order intakes during H1, with “near-record backlogs” expected to be executed between 2025 and 2028. They added that these backlogs should sustain a “high level of offshore activity.”

Following a slower first half and reduced revenue guidance, RBC expects the second half to maintain steadier activity levels, supported by high offshore utilisation across the customer base.

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 American Tobacco (LSE:BATS) announced on Tuesday that Soraya Benchikh has stepped down as Chief Financial Officer, effective immediately, after approximately 15 months in the position.

Javed Iqbal, who previously acted as interim finance director from May 2023 to April 2024, will return to serve as interim CFO while the company searches for a permanent successor.

“I am proud of my role in the significant progress since I joined BAT, as reflected in our recent results,” Benchikh said in a statement.
“Now is the right time for me to move on to my next transformation,” she added.

Following the announcement, BAT shares fell 1.7% in London trading.

Benchikh, who spent more than two decades at BAT before gaining experience in other industries, rejoined the company in May 2024 as finance chief. She will remain available to assist with the transition until the end of the year.

The news comes shortly after BAT raised its revenue guidance to the upper end of its forecast, citing increased demand for smokeless products and strong performance in the U.S. market. The company also delivered first-half profits above expectations, buoyed by growth in its U.S. business—the first increase in three years.

U.S. sales, which represent roughly 44% of BAT’s total revenue, climbed 3.7% at constant currency. Sales of new category products, led by the Velo nicotine pouches, increased 3.9%. BAT noted that Velo Plus is nearing the position of the No. 2 nicotine pouch brand by value in the U.S.

Like its competitors Philip Morris (NYSE:PM), Imperial Brands (LSE:IMB), and Altria (NYSE:MO), BAT continues to invest heavily in alternative products—including vaping, heated tobacco, and oral nicotine—to counteract declining cigarette sales.

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.

Energy markets have been some of the most sensitive to geopolitical tensions in recent years. In 2022, gas and oil prices skyrocketed after the conflict in Ukraine broke out. Once most of that initial impact had settled, tensions in the Middle East sparked another round of volatility across commodities.

However, the effect proved to be temporary: as nothing has happened, Brent crude is trading below $70 per barrel again. This is good news for central banks, as lower energy prices help combat inflation. It also provides a welcome boost of optimism for stock markets such as the S&P 500 and the Dow Jones.

Is another upward surprise possible?

Perhaps, but only if something serious disrupts supply again. One of the risks in this regard could be Iran. If the nuclear agreement is not reached before the end of August and tougher sanctions are imposed on its oil exports, prices could subsequently see an upside, even without bombs falling on Tehran.

As for Venezuela, on paper, Caracas has the world’s largest oil reserves, but in reality, it barely contributes to global supply. Years of sanctions plus a lack of modern technology mean production is a shadow of what it could be. So even if U.S.–Venezuelan relations sour further, it probably won’t move the needle much.

What about OPEC+?

One might assume that the cartel would be interested in keeping oil prices as high as possible and, with that goal in mind, if they did not cut production, they would at least not increase it. But they did the opposite: +548,000 barrels per day starting in August and another 547,000 barrels per day beginning in September.

In theory, this puts the market in a good spot for oil bears. Unless a major geopolitical crisis disrupts supply from key exporters while global demand holds steady, there’s little reason for oil to climb back to $80 a barrel. But that doesn’t mean the situation can’t change dramatically in the coming weeks or months.

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.

Filtronic (LSE:FTC) has secured its largest-ever order, valued at $62.5 million, from SpaceX for its next-generation gallium nitride (GaN) E-band products. This contract represents a major milestone for the company, highlighting its technical leadership and strategic role in supporting SpaceX’s Starlink satellite constellation. The GaN solution delivers improved power, efficiency, and thermal performance, setting a new standard for satellite communications and aerospace applications.

The partnership with SpaceX underscores Filtronic’s engineering capabilities and positions the company to capture further opportunities in the low Earth orbit communications market. Strong financial performance, a healthy contract pipeline, and strategic corporate initiatives support a positive outlook, though a high valuation slightly tempers the overall score.

About Filtronic

Filtronic is a global microelectronics leader specializing in mission-critical communications. With more than 45 years of experience, the company operates two manufacturing sites and three engineering centers of excellence. Its technology serves high-performance sectors including space, aerospace, defense, telecom infrastructure, and critical communications, delivering solutions across the full RF spectrum with a focus on innovation and technical leadership.

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.

ITM Power (LSE:ITM), through its subsidiary Hydropulse, has entered a strategic partnership with ABO Energy to advance green hydrogen initiatives. The collaboration combines expertise in hydrogen production and renewable energy to provide Hydrogen-as-a-Service and Infrastructure-as-a-Service solutions across Europe, with a focus on Spain and Finland. The partnership aims to deliver reliable hydrogen supply to industrial customers without upfront investment, supporting market adoption and emissions reduction.

While corporate developments and technical indicators show promising momentum, ITM Power faces significant financial challenges and valuation pressures. The company’s strategic partnerships and contract wins present growth opportunities, but underlying financial health remains a key concern that must be addressed to strengthen long-term investor confidence.

About ITM Power

Founded in 2000 and listed on AIM in 2004, ITM Power is based in Sheffield, England. The company designs and manufactures proton exchange membrane (PEM) electrolysers to produce green hydrogen from renewable electricity and water. ABO Energy, established in 1996 in Germany, develops wind, solar, and battery storage projects, with a strong focus on hydrogen initiatives. Its portfolio includes over 30 gigawatts of projects under development, with 6.6 gigawatts already realized.

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.

MTI Wireless Edge Ltd (LSE:MWE) delivered robust results for the first half of 2025, posting an 8% increase in revenues alongside a 17% rise in earnings per share. The company’s growth is supported by rising global defense budgets and expanding demand for 5G solutions, particularly in India.

The Antenna division recorded a 23% sales increase, benefiting from growth in military antenna markets and 5G backhaul solutions. The Mottech division also saw an 8% sales rise, fueled by new contracts in Israel, the U.S., and Italy. While MTI Summit sales declined slightly, the division maintains a strong order backlog and pipeline. The company’s diversified exposure to defense, 5G infrastructure, and smart irrigation systems, combined with a solid balance sheet, provides a positive outlook for the remainder of 2025.

MTI Wireless Edge’s strong financial performance and attractive valuation underpin its favorable score. Although some revenue and cash flow trends reflect market pressures, technical indicators show a mix of short-term momentum and potential longer-term headwinds.

About MTI Wireless Edge Ltd

MTI Wireless Edge is a technology group delivering comprehensive communication and radio frequency solutions across multiple sectors. Operating through three divisions—Antenna, Water Control & Management, and Distribution & Professional Consulting Services—the company focuses on 5G networks, military antennas, and smart irrigation, with a significant presence in defense and telecommunications markets.

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.

ValiRx PLC (LSE:VAL) has launched a new subsidiary, Blue Ribbon Bio Limited, to oversee its prostate cancer portfolio, including the intellectual property for Val201. The company intends to file additional patents for Val201 and accelerate its development as a prostate cancer therapy.

In parallel, ValiRx received a notice of allowance for a Canadian patent covering the use of the Val201 peptide in treating endometriosis, highlighting the company’s commitment to advancing both prostate cancer and women’s health initiatives. These moves aim to strengthen ValiRx’s clinical portfolio, attract potential partners for development, and address unmet medical needs.

Although the company faces financial challenges and valuation concerns, recent corporate actions and strategic partnerships provide a positive foundation for future growth. Technical indicators show weak momentum, but oversold conditions may present short-term opportunities for investors.

About ValiRx PLC

ValiRx is a life sciences firm focused on early-stage therapeutics for cancer and women’s health. The company accelerates the translation of innovative science into medicines with clinical impact, guiding promising drug candidates from pre-clinical stages to investor-ready assets. ValiRx collaborates with scientific, technical, and commercial experts to streamline the drug development process and maximize patient benefit.

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.

Petro Matad Limited (LSE:MATD) has shared key operational developments, including the start of well testing at Heron-2 in Block XX and the receipt of oil sales payments from PetroChina for May and June. The company also secured a three-year extension of its Block XX Exploitation Licence, which includes a customs duty holiday, and has withdrawn its application for a new Production Sharing Contract due to unconfirmed coordinates.

Discussions regarding a potential farm-out agreement for Block XX are ongoing, while the company continues to address tax matters with PetroChina to ensure timely and full payment of proceeds.

About Petro Matad Limited

Petro Matad is an AIM-listed oil exploration and production company operating in Mongolia. Its primary focus is on Block XX, along with other prospective exploration areas within the country.

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.

CleanTech Lithium PLC (LSE:CTL) has announced a fundraising initiative to raise £4.3 million through the placement of new shares, with an additional £400,000 expected from a broker option. Existing UK shareholders are being offered the opportunity to participate in a retail offer on the same terms as institutional investors.

The funds will be directed toward acquiring additional licenses within the Laguna Verde project, funding technical work, and supporting general working capital. The initiative is intended to strengthen CleanTech Lithium’s market position and advance its strategic growth plans within the lithium sector.

About CleanTech Lithium PLC

CleanTech Lithium PLC is a Chile-focused exploration and development company advancing lithium projects to support the global transition to clean energy.

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.