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  • Predator Advances Snowcap-3 Plans and Broadens Development Pipeline in Trinidad and Morocco

    Predator Advances Snowcap-3 Plans and Broadens Development Pipeline in Trinidad and Morocco

    Predator Oil & Gas Holdings (LSE:PRD) has stepped up activity ahead of its Snowcap-3 (SC-3) appraisal and development well on the Cory Moruga licence in Trinidad. The company has ordered critical long-lead drilling equipment, with delivery expected within 65 days, and has bolstered its operational team. Subject to the outcome of SC-3, three additional development drilling locations have already been identified, with initial production expected to rely on trucking before scaling up output.

    Updated seismic interpretation and well data have widened the scope of the SC-3 well to include the Herrera #8 Sand, linked to de-risked 3C contingent recoverable resources estimated at 1.84 million barrels. Historical production tests from nearby wells indicate strong flow potential, which could further enhance the asset’s commercial viability. Beyond Cory Moruga, Predator continues to advance drilling and workover programmes across its Trinidad portfolio, while in Morocco it has finalised updated well designs and drilling fluid strategies for the Guercif gas licence. These developments position the group to capitalise on firm oil prices and potential future gas monetisation opportunities in Morocco.

    Despite operational progress, the company’s broader investment case remains constrained by weak financial fundamentals, including the absence of revenue, ongoing losses, and continued cash burn. This is partially mitigated by a relatively low-debt balance sheet and some improvement seen in 2024. Technical indicators offer moderate support, with the share price trading above key longer-term averages and showing positive momentum, although conditions appear close to overbought. Valuation remains challenged due to the lack of profitability and no dividend yield.

    More about Predator Oil & Gas Holdings Plc

    Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas exploration and production company with a focus on onshore assets in Trinidad and gas development in Morocco. Its portfolio spans producing and appraisal projects in Trinidad, alongside shallow biogenic gas opportunities in Morocco, where the company is targeting compressed natural gas (CNG) and micro-LNG solutions supported by favourable pricing dynamics and fiscal conditions.

  • European Stocks Advance on Fresh Hopes for Middle East Peace Talks: DAX, CAC, FTSE100

    European Stocks Advance on Fresh Hopes for Middle East Peace Talks: DAX, CAC, FTSE100

    European equities moved higher on Tuesday, while the U.S. dollar weakened to a six-week low and government bond yields edged down, as investors grew more optimistic about potential progress in Middle East peace negotiations.

    Oil prices slipped back below $100 per barrel as the U.S. blockade of Iranian ports officially took effect. At the same time, reports indicated that Washington and Tehran may be preparing a second round of talks aimed at resolving the conflict.

    Germany’s DAX index rose 1.2%, France’s CAC 40 gained 0.9%, and the U.K.’s FTSE 100 added 0.1%.

    Shares of LVMH (EU:MC) fell nearly 2% after the luxury group reported a 6% year-on-year decline in first-quarter 2026 revenue, citing disruption linked to the Middle East conflict.

    Eurofins Scientific (EU:ERF) jumped more than 5% after announcing an agreement to sell its electrical and electronic testing division to UL Solutions.

    Worldline (EU:WLN) dropped 1.2% after entering exclusive negotiations to divest its New Zealand payments business to Cuscal Paris La Defense.

    Shares of Publicis Groupe (EU:PUB) rose 1% after the group reaffirmed its full-year outlook, following first-quarter net revenue organic growth of 4.5%.

    Swiss technology firm Comet Holding (TG:EZP1) surged 9% after reporting strong order intake in its first-quarter results.

    Imperial Brands (LSE:IMB) slid 7.4% after warning of higher losses in its next-generation products division due to increased investment to build scale and market share.

    BP (LSE:BP.) edged down about 0.5% after the energy major said it expects upstream production in the first quarter to remain broadly flat compared with the previous period.

  • European Markets Gain as Optimism Builds Around U.S.-Iran Talks: DAX, CAC, FTSE100

    European Markets Gain as Optimism Builds Around U.S.-Iran Talks: DAX, CAC, FTSE100

    European equities moved higher at the open on Tuesday, while oil prices slipped below the $100-per-barrel mark, as investors reacted to signs of potential progress in discussions between the United States and Iran.

    According to a U.S. official cited by Reuters, negotiations between Washington and Tehran have shown signs of advancement. Meanwhile, President Donald Trump said that Iranian representatives had reached out to the White House.

    Despite this, market sentiment remained cautious after the United States introduced a new blockade targeting Iranian ports, adding uncertainty to the broader outlook.

    As of 07:11 GMT, the pan-European Stoxx 600 was up 0.6%, while Germany’s DAX rose 1.0%. France’s CAC 40 gained 0.4%, and the UK’s FTSE 100 advanced 0.3%.

    European markets followed a positive lead from Asia, where MSCI’s broad index of shares outside Japan and Japan’s Nikkei 225 both posted gains.

    In commodities, oil prices declined, with Brent crude—the global benchmark—falling 1.5% to $97.88 per barrel. U.S. West Texas Intermediate crude dropped more sharply, down 3.4% to $95.78 per barrel.

    Even so, both benchmarks remain above levels seen before the conflict, and the International Energy Agency has cautioned that prices have yet to fully reflect the scale of supply disruptions caused by the Iran conflict.

    Among individual stocks, LVMH (EU:MC) said tensions in the Middle East have reduced group sales by at least 1%, raising concerns about the pace of recovery in the luxury sector. Results from rival Kering (EU:KER) are expected after the close of trading later in the day.

  • FTSE 100 Edges Higher as Sterling Strengthens on U.S.-Iran Talks Optimism

    FTSE 100 Edges Higher as Sterling Strengthens on U.S.-Iran Talks Optimism

    UK equities traded slightly higher on Tuesday, tracking gains across European markets, while sterling strengthened against the dollar amid renewed optimism over potential talks between the United States and Iran. Reports suggest both sides are aiming to hold another round of discussions before a temporary two-week truce announced on April 7 expires, with Islamabad among the possible venues under consideration.

    By 07:27 GMT, the FTSE 100 had risen 0.2%, while the pound gained 0.2% to trade at $1.3528. Elsewhere in Europe, Germany’s DAX climbed more than 1%, and France’s CAC 40 advanced 0.5%.

    UK Market Highlights

    PageGroup (LSE:PAGE) shares dropped over 6% after the recruiter pointed to a more uncertain outlook amid geopolitical risks. First-quarter gross profit came in at £187 million, down 4.9% year-on-year but broadly in line with expectations. The company did not issue full-year guidance.

    Imperial Brands (LSE:IMB) reaffirmed its full-year outlook, despite cautioning that Middle East tensions could weigh on second-half performance. The company continues to expect at least high single-digit earnings per share growth, supported by strong tobacco pricing and expansion in next-generation products.

    BP (LSE:BP.) said its oil trading arm is on track for an “exceptional” first quarter, driven by higher oil prices following geopolitical disruptions in the Middle East, including the effective closure of the Strait of Hormuz.

    British Retail Consortium data showed UK retail sales rose 3.6% year-on-year in March, accelerating from 1.1% growth a year earlier and exceeding the 12-month average. Food sales were a key driver, increasing 6.8%, partly due to an early Easter boosting demand.

    Intertek (LSE:ITRK) announced a strategic review to assess a potential split between its Testing & Assurance and Energy & Infrastructure divisions, which generated £1.9 billion and £1.6 billion in revenue respectively in 2025.

    Oxford Instruments (LSE:OXIG) said it expects full-year results in line with expectations, supported by strong order growth in its Advanced Technologies division. Group order intake is projected to rise around 8% on an organic constant-currency basis.

    National Gas reported that the UK is expected to have sufficient gas supply to meet demand over summer 2026 under current conditions. While power generation demand for gas is forecast to fall by around 6%, this is expected to be partly offset by a 2% increase in domestic consumption.

    Overall, the market tone remains cautiously positive, supported by improving geopolitical sentiment and steady corporate updates, though uncertainty around global tensions continues to influence investor sentiment.

  • BP Expects “Exceptional” Q1 Trading Performance but Flags Higher Net Debt

    BP Expects “Exceptional” Q1 Trading Performance but Flags Higher Net Debt

    BP (LSE:BP.) said its oil trading division is set to deliver an “exceptional” performance in the first quarter of 2026, driven by a sharp rise in oil prices following the U.S.-Israeli military campaign against Iran. Disruptions in the Middle East have significantly impacted global energy markets, particularly after the effective closure of the Strait of Hormuz restricted flows of Gulf crude, prompting traders and refiners to seek alternative supplies and pushing prices higher.

    In its latest trading update, BP indicated that its oil trading arm is expected to achieve “exceptional” results for the quarter, marking a strong rebound from a “weak” performance in the final quarter of 2025.

    The company also warned that net debt is set to increase, with projections in the range of $25 billion to $27 billion, compared with just over $22 billion at the end of the previous quarter.
    “This is driven primarily by a significant working capital build in the range of $4 to 7 billion, largely due to the price environment,” BP said.

    Upstream production for the first quarter is expected to remain “broadly flat compared to the fourth quarter of 2025,” reflecting stable output levels despite market volatility.

    The update marks the first since Meg O’Neill assumed the role of Chief Executive Officer on April 1. She has been tasked with streamlining operations, increasing oil and gas production, and divesting underperforming clean energy assets.

    O’Neill succeeds Murray Auchincloss, who departed last year after Albert Manifold determined that the company’s transformation efforts were progressing too slowly.

  • Altona Highlights Heavy Rare Earth Upside at Monte Muambe Project

    Altona Highlights Heavy Rare Earth Upside at Monte Muambe Project

    Altona Rare Earths (LSE:REE) has identified a notable concentration of heavy rare earth elements within fluorspar and gallium mineralisation at its flagship Monte Muambe project in Mozambique. The company reported a heavy-to-total rare earths ratio of around 40%, significantly higher than that found in its existing light rare earth deposit, pointing to the potential for a valuable additional revenue stream.

    Management believes this enrichment could enable the development of a high-value heavy rare earth by-product alongside planned gallium production. To assess this opportunity, Altona has initiated further mineralogical and metallurgical studies, as well as expanded assay programmes, with the aim of evaluating recoverability without delaying the current resource estimates for fluorspar and gallium.

    The discovery positions Monte Muambe within a competitive range of heavy rare earth grades compared with established projects, including those in Namibia supported by Japanese investment. This adds strategic significance to the asset, particularly given the current dominance of China in global rare earth supply. Altona noted that successfully incorporating heavy rare earth recovery into its processing flowsheet could enhance overall project economics and strengthen its position in ongoing collaboration with U.S. agencies and participants in the North American supply chain.

    The Monte Muambe project remains central to the company’s strategy, supported by a long-term mining licence and a focus on accelerating acid-grade fluorspar production while exploring gallium recovery opportunities. The group also retains additional exploration upside through its Sesana copper-silver project in Botswana.

    From an investment perspective, the company continues to face financial challenges, including a lack of revenue, ongoing losses, sustained cash outflows, and increasing leverage. However, these concerns are partly offset by strong technical momentum in the share price, which is trading above key moving averages with positive trend indicators. Valuation remains less supportive due to negative earnings and the absence of dividend visibility.

    More about Altona Rare Earths

    Altona Rare Earths is a London-listed exploration and development company focused on critical raw materials across Africa. Its portfolio includes rare earths, fluorspar, gallium, and base metals, with the Monte Muambe project in Mozambique as its core asset, supported by a long-term mining licence and external development funding. The company is also advancing the Sesana copper-silver project in Botswana, providing additional growth potential within its broader strategy to supply materials essential to clean energy, technology, and defence sectors.

  • Mkango Secures UK Funding to Advance Circular Rare Earth Magnet Supply Chain

    Mkango Secures UK Funding to Advance Circular Rare Earth Magnet Supply Chain

    Mkango (LSE:MKA) has secured UK government backing through the £4 billion DRIVE35 programme, with its subsidiaries HyProMag and Mkango Rare Earths UK awarded £2.6 million in grant funding. The support forms part of the £6.5 million, three-year REACT UK consortium, which aims to establish a fully circular domestic supply chain for recycled neodymium-iron-boron magnets used in automotive applications.

    The initiative is being led by HyProMag in collaboration with key partners including Jaguar Land Rover, EMR, Less Common Metals, and the University of Birmingham. The project will integrate advanced recycling technologies with hydrogen-based processing methods to extract magnets from end-of-life electric and hybrid vehicles, before converting them into high-performance drive motor magnets. This approach is expected to strengthen domestic supply chain resilience while reinforcing Mkango’s early leadership in rare earth magnet recycling.

    In addition, a separate grant facilitated by the Advanced Propulsion Centre will support a feasibility study focused on expanding magnet manufacturing capacity at the Tyseley site. This further aligns with Mkango’s strategy to build a scalable industrial base in the UK for zero-emission vehicle technologies.

    Collectively, these developments enhance Mkango’s position across the value chain—from upstream recycling and materials processing to downstream magnet production—placing the company at the forefront of efforts to secure sustainable rare earth supplies for electric vehicles and broader clean energy applications.

    More about Mkango Resources

    Mkango Resources is a rare earths company listed on both AIM and TSX-V, focused on becoming a leader in recycled rare earth magnets, alloys, and oxides through its majority-owned Maginito platform. The group operates HyProMag in the UK and Germany for short-loop recycling and Mkango Rare Earths UK for long-loop chemical recycling. It also owns the Songwe Hill rare earth project in Malawi and the Puławy separation facility in Poland, both recognised as EU Strategic Projects.

  • European stocks edge lower as Hormuz tensions rise after failed talks: DAX, CAC, FTSE100

    European stocks edge lower as Hormuz tensions rise after failed talks: DAX, CAC, FTSE100

    European equity markets traded broadly weaker on Monday, following the breakdown of weekend negotiations in Islamabad and a U.S. naval move to restrict shipping linked to Iran through the Strait of Hormuz.

    Escalating geopolitical tensions lifted Brent crude above $102 per barrel, renewing concerns around inflation and the outlook for interest rates.

    Germany’s DAX fell 1.2%, France’s CAC 40 declined 0.9%, while the U.K.’s FTSE 100 slipped 0.5%.

    Vistry Group (LSE:VTY) was among the biggest fallers after naming internal candidate Adam Daniels as its new chief executive.

    National Grid (LSE:NG.) also traded lower after issuing a pre-close update ahead of its full-year results.

    In contrast, Halma (LSE:HLMA) advanced in London after the group announced the $90 million acquisition of California-based Surgistar, a specialist in ophthalmic surgical tools and devices.

  • European equities slip as Hormuz blockade threat and failed Iran talks unsettle markets: DAX, CAC, FTSE100

    European equities slip as Hormuz blockade threat and failed Iran talks unsettle markets: DAX, CAC, FTSE100

    European stock markets started the week on a weaker footing, as investors reacted to the collapse of weekend negotiations between the U.S. and Iran and renewed tensions following President Donald Trump’s warning of an “immediate” blockade of the Strait of Hormuz.

    By 07:13 GMT, the pan-European Stoxx 600 index was down 0.8%. Germany’s DAX had fallen 1.2%, France’s CAC 40 declined 1.0%, and the UK’s FTSE 100 dropped 0.6%.

    Trump said on Sunday that the U.S. would move to restrict vessels entering or leaving the Strait of Hormuz, a critical global shipping route that has become a focal point in the Middle East conflict. He cautioned that any ship paying a toll imposed by Tehran would not be guaranteed “safe passage on the high seas.”

    Later, the Pentagon clarified that the restrictions would apply specifically to ships “entering or departing Iranian ports or coastal areas,” while other vessels would still be able to pass through the Strait. Around 20% of global oil supply flows through this narrow passage off Iran’s southern coast.

    “[T]he language seemed to soften what the president posted,” analysts at Vital Knowledge said in a note to clients. “What initially looked like a complete halt to all traffic now looks like it is focused only on Iranian vessels.”

    At the same time, The Wall Street Journal reported that Trump is considering limited military strikes against Iran, which analysts suggested may indicate that the administration could be “pivoting away aggressively from a resumption” of the broader bombing campaign that had been ongoing since late February.

    These developments follow 21 hours of talks between U.S. and Iranian officials in Pakistan, which ended without securing a longer-term ceasefire beyond the current two-week pause in hostilities.

    Market participants are now turning their attention to upcoming Eurozone inflation data later this week, which may shed light on how the conflict is influencing price pressures. Europe relies heavily on energy imports from the Persian Gulf, including natural gas from Qatar, where infrastructure has been affected by the expanding conflict.

    The European Central Bank has indicated it is closely monitoring inflation risks linked to the situation. Interest rate futures currently suggest expectations of around three 25-basis-point rate increases by the ECB through the end of 2026, according to LSEG data cited by Reuters.

    Oil markets reacted strongly, with Brent crude climbing back above $100 per barrel after briefly falling below that level last week following the announcement of a temporary ceasefire.

    In corporate news, shares of Kering SA (EU:KER) resumed trading after being briefly halted following a drop of more than 3% in early dealings. Morgan Stanley downgraded the stock to “equal weight” from “overweight,” noting that much of the expected turnaround appears already reflected in the share price.

    Elsewhere, travel and leisure stocks across Europe were under pressure, while Italian energy company Eni (BIT:ENI) and defence group Leonardo (BIT:LDO) both posted gains.

  • National Grid expects modest EPS impact from regulatory and storm costs

    National Grid expects modest EPS impact from regulatory and storm costs

    National Grid plc (LSE:NG.) said trading remains in line with expectations and consistent with guidance provided at its interim results, though it now anticipates a small reduction to earnings.

    The company expects an approximately 1p per share impact on underlying earnings, driven by customer refund charges related to the 19 March ruling by the Federal Energy Regulatory Commission (FERC) concerning its New England Transmission operations. Additional pressure has come from higher-than-expected storm-related costs in its US business.

    These factors are partly offset by slightly lower finance costs, helping to limit the overall effect on earnings.

    National Grid is scheduled to report its full-year results on 14 May. Shares were down around 0.7% in early trading following the update.

    More about National Grid

    National Grid plc is a FTSE 100-listed utility company focused on the transmission and distribution of electricity and gas across the UK and the United States. It operates critical energy infrastructure, connecting generation sources to homes and businesses while supporting the transition to cleaner energy systems.