Category: Market News

Futura Medical (LSE:FUM) has received a notice of allowance for its Eroxon® patent in China, securing protection through 2040. The approval opens a meaningful commercial pathway in a market with a high incidence of erectile dysfunction among adult men. Strengthening its intellectual property in China enhances Futura’s competitive footing and supports its strategy to secure commercial partners in the region. This latest allowance builds on patent protection already granted in Europe, Hong Kong, Taiwan, and the United States, with additional applications under review in other territories.

More about Futura Medical plc

Futura Medical plc is a consumer healthcare company focused on developing and commercializing innovative, clinically validated products for sexual health. The group’s expertise centers on topical gel formulations designed to address unmet needs in male and female sexual function. Its flagship product, Eroxon®, is an over-the-counter topical treatment for erectile dysfunction, while its pipeline includes candidates such as WSD4000, a topical therapy targeting symptoms of reduced sexual response in women.

Tirupati Graphite Plc (LSE:TGR) has secured a £3.1 million funding package comprising convertible loan notes and a conditional placing of new shares. The financing is intended to ease ongoing liquidity pressures and support the company’s wider operational recovery efforts. Management aims to push forward with its turnaround programme, restart production at the Vatomina operation, and address outstanding creditor obligations. Proceeds from the raise will also be directed toward equipment enhancements, day-to-day operating needs, and general corporate activities.

More about Tirupati Graphite Plc

Tirupati Graphite Plc operates within the flake graphite sector, supplying minerals that play a key role in technologies underpinning the global transition to cleaner energy.

FirstGroup (LSE:FGP) has been named the preferred bidder to run the London Overground rail network beginning in May 2026. The agreement spans an initial eight-year period, with the possibility of a further two-year extension, and is estimated to be worth around £3 billion. Under the arrangement, First Rail London Limited will oversee day-to-day operations across trains and stations, while Transport for London will continue to bear the revenue risk. The collaboration is designed to boost service reliability, elevate passenger experience, and advance environmental initiatives consistent with TfL’s Vision Zero safety strategy and its wider emissions-reduction ambitions. Securing this contract represents a significant strategic step for FirstGroup as it broadens its transport portfolio and reinforces its standing within the UK mobility sector.

The company’s near-term prospects reflect a combination of strong financial results and supportive corporate developments. A favourable valuation and constructive earnings call add to the positive narrative, though technical indicators pointing to a bearish trend suggest investors may wish to approach the short term with care.

More about FirstGroup plc

FirstGroup plc is one of the UK’s largest private operators of public transport, employing roughly 29,000 people and delivering revenue of £5.1 billion in FY 2025. Its operations span two primary divisions: First Bus, among the country’s biggest bus networks, and First Rail, which runs a mix of long-distance, regional, commuter, and sleeper services. The group maintains a strong sustainability agenda, targeting a fully zero-emission bus fleet by 2035 and supporting the transition away from diesel-only trains by 2040.

Auction Technology Group plc (LSE:ATG) has issued its Annual Report and Accounts for 2025 and circulated the Notice of its 2026 Annual General Meeting. Among the resolutions up for shareholder consideration is a proposed Capital Reduction, which will only take effect subject to approval by investors and subsequent court validation. The AGM will take place in London on January 22, 2026, offering both physical attendance and a digital webcast. The update reinforces ATG’s emphasis on openness and active dialogue with investors, with potential implications for its capital structure and broader stakeholder relationships.

ATG’s current outlook reflects a blend of healthy operating performance and a moderate valuation profile, tempered by technically bearish market signals. The group continues to demonstrate strong profitability and a resilient balance sheet, though its declining share trend and lack of a dividend remain notable constraints. With no recent earnings calls or major company events, these elements played no role in shaping the present assessment.

More about Auction Technology Group plc

Auction Technology Group plc operates a portfolio of online marketplaces that bring together millions of buyers seeking distinctive and hard-to-source assets. Its platforms serve both the Arts & Antiques and Industrial & Commercial categories, enabling the sale of more than 26 million unique secondary items each year, representing over $12 billion in value. The company maintains an international footprint with offices across North America, the UK, Germany, and Mexico.

U.S. stock index futures were little changed early Tuesday, indicating a flat start for Wall Street as traders tread carefully ahead of Wednesday’s Federal Reserve decision.

After a modest retreat in the prior session, investors appear unwilling to take strong directional bets. While a 25-basis-point rate cut is widely anticipated, the outlook for interest rates heading into 2026 remains clouded with uncertainty.

CME Group’s FedWatch tool shows an 87.4% probability of the Fed trimming rates on Wednesday, alongside a 67.5% chance policymakers keep rates unchanged at the January meeting. This split underscores doubts about how aggressive the central bank will be in the months ahead.

Market participants are expected to scrutinize the Fed’s statement and Chair Jerome Powell’s comments for insight into whether more easing is likely.

Shortly after trading begins, the Labor Department will release October’s job-openings data, offering a fresh read on labor-market conditions.

Monday’s market action saw stocks jump at the open before momentum faded. All three major indexes slid into negative territory by the afternoon despite a brief mid-day rebound attempt. The Dow dropped 215.67 points (0.5%) to 47,739.32, the Nasdaq slipped 0.1% to 23,545.90, and the S&P 500 fell 0.4% to 6,846.51.

The downturn followed a stretch of strong gains, with both the Nasdaq and S&P 500 closing at one-month highs last Friday, prompting some profit-taking. Trading volumes remained muted with the Fed decision approaching.

Dan Coatsworth, head of markets at AJ Bell, warned that expectations may limit the market’s reaction, stating: “Markets may not rally if we get a 25 basis-point cut, given how investors are already expecting it to happen.” He added: “Instead, markets are only likely to move in a large way up or down if we don’t get a cut or if the cut is much bigger than expected.”

Sector performance was mixed Monday. Gold miners were sharply lower, driving the NYSE Arca Gold Bugs Index down 2.1%. Biotech shares also weakened, pulling the NYSE Arca Biotechnology Index down 1.6%.

Utilities, natural gas, and healthcare names struggled as well, while networking, hardware, and semiconductor stocks managed to show relative strength.

European equities showed little clear direction on Tuesday, with traders hesitant to take strong positions ahead of Wednesday’s closely watched U.S. Federal Reserve interest rate decision.

The Fed is widely expected to deliver a 25-basis-point rate cut, although the trajectory for policy in 2026 remains uncertain.

In regional economic data, Germany’s trade balance improved in October, helped by a small rise in exports and a pullback in imports, according to figures released by the federal statistics office.

Exports edged up 0.1% month-on-month—far below September’s 1.5% rebound—while imports fell 1.2% after a sharp 5.1% rise the previous month. This pushed the country’s trade surplus higher, reaching €16.9 billion compared with €15.3 billion in September.

Later in the session, investors will turn their focus to U.S. JOLTS job openings data for October, which could offer fresh insight into the labor market’s strength.

Market performance across Europe was uneven: Germany’s DAX gained 0.3%, the UK’s FTSE 100 hovered just below unchanged, and France’s CAC 40 slipped 0.6%.

In corporate news, ThyssenKrupp (TG:TKA) tumbled after warning of a difficult operating environment and projecting a potential net loss of up to €800 million in 2026.

British American Tobacco (LSE:BATS) also traded sharply lower after stating that 2026 results are expected to land at the bottom of its medium-term guidance range.

Shares of Chemring Group (LSE:CHG) weakened as well, following an update indicating higher-than-planned expenses tied to the company’s expansion efforts in Norway.

On a more positive note, German wind turbine maker Nordex (BIT:1NDX) advanced after securing new orders in France and Belgium.

Oil prices slipped again on Tuesday, adding to the sharp decline seen at the start of the week, as traders monitored developments in Ukraine peace negotiations, ongoing concerns about global oversupply, and the upcoming U.S. interest rate decision.

By 0717 GMT, Brent crude futures were down 7 cents, or 0.1%, at $62.42 a barrel, while U.S. West Texas Intermediate dipped 13 cents, or 0.2%, to $58.75.

Monday’s losses — more than $1 per barrel — followed Iraq’s move to restore output at Lukoil’s massive West Qurna-2 field, one of the largest oil-producing sites globally.

Ukraine plans to present a revised peace framework to Washington after discussions in London between President Volodymyr Zelenskiy and leaders from France, Germany, and the U.K.

Tim Waterer, chief market analyst at KCM Trade, noted the market’s hesitancy: “Oil is keeping to a tight trading range until we get a better idea of which way the peace talks will go.”

He added: “If the talks break down, we expect oil to move higher, or if progress is made, and there is a likelihood of Russian supply to the global energy market resuming, prices would be expected to drop.”

Sources familiar with ongoing discussions said G7 nations and the European Union are weighing a shift from a price cap on Russian oil exports to a full maritime services ban to further curb Moscow’s revenue.

Another potential catalyst is due next week, as analysts look toward December’s monthly oil market report from the International Energy Agency.

Kelvin Wong, senior market analyst at OANDA, said: “The next (market) driver is likely to be the IEA monthly oil market report for December, released on 11 December, which it has predicted a record surplus in the oil market in 2026, highlighted in previous outlook reports.” He noted that if the IEA reiterates these surplus concerns, WTI could slip toward the $56.80–$57.50 support range.

Attention is also turning to Wednesday’s Federal Reserve meeting, where markets currently assign an 87% chance of a 25-basis-point rate cut.

While lower borrowing costs typically bolster oil demand, analysts warn that broader price action remains heavily influenced by expectations of oversupply.

Priyanka Sachdeva, senior market analyst at Phillip Nova, remarked: “Although markets are largely invested in upcoming FED policy decision on Wednesday for a possible 25bp cut, something that could lend short-term support at the lower end of the $60–65 band, the broader price structure remains anchored by expectations of an oversupplied 2026 (oil market).”

Gold prices were little changed in Asia on Tuesday as investors stayed on the sidelines ahead of this week’s Federal Reserve meeting, where policymakers are widely expected to deliver another interest rate cut.

Although the metal has softened slightly in early December, gold remains supported by four consecutive months of strong gains, fueled by optimism over easing U.S. monetary policy. Other precious metals also saw muted moves, while silver continued to hover just shy of record levels after a sharp rally last week.

Spot gold slipped 0.1% to $4,186.18 per ounce, and February gold futures inched down to $4,215.40/oz at 00:04 ET (05:04 GMT).

Market eyes Fed cut, but tone still unclear

Most analysts expect the Federal Reserve to trim interest rates by 25 basis points when it concludes its two-day meeting on Wednesday.

Expectations strengthened after last week’s data showed a modest decline in the PCE price index, the Fed’s preferred inflation gauge.

However, OCBC analysts noted growing chatter around the possibility of a “hawkish hold” in recent weeks, particularly because the Fed will be making its decision without the usual flow of updated economic data for October and November.

Even so, anticipation of lower borrowing costs has boosted gold in recent months, as reduced yields on U.S. debt generally increase demand for non-yielding assets.

Other precious metals were steady on Tuesday but have enjoyed solid upward momentum lately. Spot platinum traded at $1,651.81/oz, while silver continued to outperform.

Silver steadies near landmark highs

Spot silver hovered around $58.1/oz, holding close to last week’s record of $59.3474/oz.

The metal — frequently viewed as a defensive alternative to gold — has surged amid heavy speculative buying driven by expectations of tightening supply. Its appeal also strengthened after the U.S. officially classified silver as a critical mineral.

Silver prices have more than doubled this year, far outpacing gold, as the high cost of bullion has encouraged investors to diversify their safe-haven exposure.

The U.S. dollar was little changed on Tuesday as investors awaited the Federal Reserve’s final policy decision of the year, while the Australian dollar firmed after a more hawkish tone from the Reserve Bank of Australia.

At 04:00 ET (09:00 GMT), the Dollar Index — a measure of the greenback against six major peers — edged slightly lower to 99.042.

Markets brace for a potential “hawkish” cut

The Fed begins its two-day policy meeting later today, and markets broadly expect a 25-basis-point rate cut when Wednesday’s decision is released.

Fed funds futures put the likelihood of a reduction at just under 90%, according to CME’s FedWatch.

Still, significant uncertainty remains over what the Fed may signal regarding next year’s policy path, particularly with the announcement of a new Fed Chair expected soon.

As ING analysts noted, “There are now high expectations of a ’hawkish cut’ at Wednesday evening’s FOMC decision. With market pricing of further Fed easing still vulnerable, we suspect the dollar’s downside is limited into the Fed meeting.”

The JOLTS job-openings report, due later Tuesday, is unlikely to play a major role in the Fed’s current deliberations given its October reference period.

Euro picks up after German export surprise

The euro edged higher, with EUR/USD rising 0.1% to 1.1645, after Germany posted a small but unexpected increase in exports. Shipments grew 0.1% month-on-month in October, defying forecasts of a 0.5% decline.

The gain was driven by EU trade, while exports to China and the U.S. fell sharply. The data adds to signs that the eurozone’s largest economy may be stabilizing.

However, ING warned that “failure to pass a social security budget in the French parliament today would be greeted negatively by markets and could re-insert some political risk back into the euro.”

GBP/USD rose 0.2% to 1.3348 ahead of Friday’s GDP release and next week’s Bank of England meeting.

Aussie dollar climbs after RBA signals inflation risks

In Asia, the Australian dollar strengthened, with AUD/USD up 0.3% to 0.6638. The Reserve Bank of Australia held its cash rate at 3.60%, as widely anticipated, but delivered a firmer message on inflation.

The RBA said inflation risks had “tilted to the upside” and warned that stronger-than-expected domestic demand could add pressure on capacity — prompting policymakers to remain cautious and assess how persistent price pressures may be.

The central bank’s previous easing cycle now appears on hold for the time being, with core inflation still sticky.

Elsewhere, USD/CNY dipped slightly to 7.0702, while USD/JPY climbed 0.3% to 156.29 after a powerful 7.5-magnitude earthquake struck northeast Japan, triggering evacuations and initial tsunami warnings that were later downgraded.

U.S. stock futures were slightly positive early Tuesday, with investors preparing for what could become one of the Federal Reserve’s most debated decisions in recent years. At the same time, markets were absorbing a major escalation in the takeover battle for Warner Bros Discovery (NASDAQ:WBD), new clarity on Nvidia’s (NASDAQ:NVDA) export permissions, and a modest pullback in Bitcoin (COIN:BTCUSD).

Futures move marginally higher

Equity futures hovered just above unchanged as traders positioned themselves ahead of Wednesday’s Fed announcement.

As of 02:55 ET, Dow futures were up 26 points (0.1%), S&P 500 futures added 8 points (0.1%), and Nasdaq 100 futures gained 26 points (0.1%).

Monday’s session ended in the red across the major U.S. indices, weighed down by rising Treasury yields. The benchmark 10-year yield climbed further after a strong earthquake struck near Japan, adding to volatility.

Tech earnings also loom large this week, with Oracle (NYSE:ORCL) and Broadcom (NASDAQ:AVGO) set to report as investors digest concerns around heavy, often debt-funded AI investment.

Among individual movers, Confluent (NASDAQ:CFLT) surged after IBM (NYSE:IBM) announced plans to acquire the company, while Tesla (NASDAQ:TSLA) slipped 3% following a downbeat forecast from Morgan Stanley.

Paramount drops hostile $108.4B bid for Warner Bros Discovery

The effort to acquire Warner Bros Discovery has intensified dramatically.

Just days after reports suggested Netflix (NASDAQ:NFLX) had secured a $72 billion equity deal for its TV, film, and streaming operations, Paramount Skydance revealed a hostile bid valued at $108.4 billion. The offer represents a 139% premium to WBD’s pre-negotiation valuation and seeks to acquire the entire company, including its cable networks.

Warner’s board said Monday it will evaluate Paramount’s proposal but reaffirmed its backing for the Netflix agreement, advising the company not to act on the rival offer at this stage.

Trump administration clears Nvidia to ship H200 chips to China

President Donald Trump said the U.S. will now allow Nvidia to export its H200 processors to China and collect a 25% fee on those sales.

The decision marks a softening of earlier export curbs that limited Nvidia to selling only the lower-tier H20 chip into China due to U.S. national-security concerns. The H200 is thought to be roughly six times more powerful than the H20, according to Reuters citing the Institute for Progress.

However, Beijing’s crackdown on domestic firms using U.S. technology could limit the commercial benefits of the policy shift.

Nvidia shares rose in after-hours trading, extending Monday’s 3% advance.

Fed begins two-day meeting with rate cut expected

Investor focus has now shifted firmly to the Fed’s latest two-day policy meeting, which is widely expected to conclude with a 25-basis-point rate cut.

The odds of such a move have strengthened following soft economic data showing job-market stress, a modest uptick in consumer spending, and persistent inflation. FedWatch currently places the probability near 89%.

Still, policymakers could choose to hold steady, especially as some officials have questioned whether delivering a third cut since September is appropriate given the lack of fresh economic data during the record-breaking government shutdown.

Analysts say this could become one of the most contentious Fed decisions in years.

Bitcoin softens ahead of Fed decision

Bitcoin edged lower as traders avoided making bold bets before Wednesday’s announcement.

Lower interest rates typically weaken the U.S. dollar and trim yields on cash and bonds, a dynamic that can make non-yielding assets such as Bitcoin more appealing. But 2025 has been marked by sharp price swings tied to debates over monetary policy, tariffs, and artificial intelligence.

These moves have reinforced the view that Bitcoin’s correlation with equity-market risk has strengthened significantly.