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  • Currys Raises Profit Expectations as Trading Momentum and Cash Flow Improve (CURY)

    Currys Raises Profit Expectations as Trading Momentum and Cash Flow Improve (CURY)

    Currys (LSE:CURY) reported stronger trading momentum for the year ended 2 May 2026, with group like-for-like sales increasing 4% and adjusted pre-tax profit expected to reach approximately £191 million. The projected result represents an 18% increase from the prior year and is slightly ahead of earlier guidance.

    The electronics retailer also returned £74 million to shareholders during the period and finished the year with more than £170 million in net cash. Meanwhile, the company confirmed it continues the process of appointing a new group chief executive.

    In the UK and Ireland division, Currys expects adjusted EBIT to rise modestly as gains in market share, growth in services and business-to-business operations, and expansion into new product categories helped offset cost pressures. Subscriber numbers at iD Mobile increased 18% over the year, contributing additional momentum.

    The Nordics business delivered stronger adjusted EBIT growth, supported by market share gains and solid consumer demand for kitchens and computing components. Management said stable margins, disciplined cost controls and hedged energy costs have helped position the group to manage ongoing market volatility while continuing shareholder returns ahead of full-year results due on 2 July 2026.

    The company’s broader outlook is mainly supported by improving financial performance, including stronger growth trends, lower leverage and healthy free cash flow generation. The shares also benefit from a relatively low price-to-earnings valuation. Technical indicators remain positive overall due to the stock’s strong upward trend, although elevated RSI and stochastic readings suggest momentum may be stretched in the near term.

    More about Currys plc

    Currys plc is a leading omnichannel retailer of consumer technology products and services, operating online and through more than 700 stores across six countries. The group trades as Currys in the UK and Ireland and Elkjøp in the Nordic region, while also operating the iD Mobile network, large-scale repair centres and distribution facilities focused on extending product lifecycles and improving sustainability.

  • Empire Metals Divests Non-Core Gold Project to Focus on Pitfield Titanium Development (EEE)

    Empire Metals Divests Non-Core Gold Project to Focus on Pitfield Titanium Development (EEE)

    Empire Metals (LSE:EEE) has agreed to sell its 75% interest in the Eclipse Mining Lease, a non-core gold asset located near Kalgoorlie in Western Australia, for a total consideration of A$750,000. The transaction includes a non-refundable deposit and a further cash payment payable upon completion.

    The sale remains subject to standard closing conditions, including ministerial approval, and forms part of the company’s broader strategy to simplify its asset portfolio and direct capital and management attention toward the development of its flagship Pitfield Titanium Project. Empire said it continues to assess potential divestment opportunities for other non-core assets.

    By disposing of the smaller gold project, the company is increasing its focus on titanium and positioning Pitfield as the centrepiece of its long-term growth strategy. Management views the project as having the potential to become a significant supplier within the titanium market, supported by favourable infrastructure access and substantial exploration upside.

    The transaction also reflects a wider trend across the junior mining sector, where companies are increasingly prioritising exposure to critical minerals over traditional commodity assets. Investors are likely to view the disposal as an effort to unlock value and accelerate development activity at Pitfield.

    The company’s outlook remains constrained by the absence of revenue generation, ongoing losses and continued cash burn, all of which increase reliance on external funding. Technical indicators also point to a weak market trend, with the shares trading below major moving averages and momentum remaining subdued. A relatively low level of debt provides some balance sheet stability, although this has yet to translate into profitability.

    More about Empire Metals

    Empire Metals is a London-listed natural resources company focused on exploration and resource development in Western Australia. Its primary asset is the Pitfield Titanium Project, which hosts a reported resource of 2.2 billion tonnes grading 5.1% TiO₂. The company is positioning the project to supply growing global demand for titanium and other critical minerals.

  • IG Group Raises 2026 Guidance as Stock Trading and Crypto Expansion Drive Momentum (IGG)

    IG Group Raises 2026 Guidance as Stock Trading and Crypto Expansion Drive Momentum (IGG)

    IG Group (LSE:IGG) delivered a strong first quarter performance, with organic total revenue rising 19% year-on-year to £331.2 million. Net trading revenue increased 25%, supported by heightened commodity market volatility, broader product offerings and increased marketing activity.

    The company reported 12% organic growth in active customers, marking the fifth consecutive quarter of sequential customer expansion. Total assets under administration exceeded £20 billion in April, driven by strong inflows across stock trading, Freetrade and cryptocurrency products.

    IG continued to expand its stock trading and digital asset capabilities during the quarter. The group launched spot cryptocurrency trading in several markets, introduced zero-commission stock trading into additional geographies and integrated its Independent Reserve acquisition to support further international crypto growth.

    Reflecting the strong trading momentum, management upgraded its 2026 outlook and now expects organic revenue growth of between 10% and 15%, alongside EBITDA margins in the mid-40% range. The company also increased its medium-term target, forecasting annual organic revenue growth of at least 10%.

    Alongside its operational expansion, IG said it continues to conduct a strategic review that could include acquisitions, changes to its domicile or stock market listing venue, potential combinations with industry peers and a newly announced £125 million share buyback programme.

    The company’s broader outlook remains supported by strong profitability and a solid overall financial position, alongside an attractive valuation characterised by a relatively low price-to-earnings ratio and meaningful dividend yield. Technical indicators remain positive overall, although momentum measures suggest the shares may be approaching overbought territory. Risks include recent declines in revenue growth rates and softer free cash flow trends.

    More about IG Group Holdings

    IG Group Holdings plc is a UK-based online trading and investment platform operator providing over-the-counter and exchange-traded derivatives, stock trading, investment and cryptocurrency products to both retail and institutional clients. The group is expanding its presence in stockbroking and digital assets through an increasingly international platform network supporting more than £20 billion in client assets under administration.

  • Topps Tiles Delivers Profit Growth on Proforma Basis Despite Soft Home Improvement Market (TPT)

    Topps Tiles Delivers Profit Growth on Proforma Basis Despite Soft Home Improvement Market (TPT)

    Topps Tiles (LSE:TPT) reported interim results showing continued outperformance against a subdued UK home improvement market, supported by deeper penetration into its predominantly trade-focused customer base.

    The company said around three quarters of total group revenue now comes from trade customers, helped by ongoing growth in its online offering and expansion into value-focused and “hard surface” product categories. Management said these initiatives are strengthening the group’s leadership position across tiles and related flooring products.

    Group adjusted revenue increased 11.6% to £142.6 million, largely due to the contribution from CTD following its acquisition. On a proforma basis, however, revenue remained broadly flat, while statutory pre-tax profit declined to £0.5 million because of impairment charges and one-off costs linked to integration activity.

    Despite these pressures, the company highlighted strong progress from margin-enhancing efficiency measures, tighter cost management and the integration of CTD and Fired Earth. Together, these initiatives helped drive a 17.3% increase in proforma operating profit.

    Management expects the combination of ongoing self-help measures, digital sales growth and operational efficiencies to support stronger profitability in the second half and deliver modest full-year profit growth, despite continued macroeconomic uncertainty and geopolitical risks.

    The company’s broader outlook is underpinned by improving operational fundamentals and healthy cash flow generation, alongside an attractive valuation supported by a moderate price-to-earnings ratio and relatively high dividend yield. However, these positives are partly offset by elevated leverage and weak technical indicators, with the shares trading below key moving averages and broader momentum signals remaining negative. Commentary from management provided a moderately constructive outlook, although execution and cost-related risks remain.

    More about Topps Tiles

    Topps Tiles plc is the UK’s largest specialist retailer and distributor of tiles and related products, serving primarily trade customers including tilers, builders and contractors, alongside domestic homeowners. Founded in 1963, the company operates an omni-channel retail model and has significant exposure to the UK repair, maintenance and improvement market, as well as selected commercial, infrastructure and new-build housing projects.

  • Dr. Martens Shifts to Consumer-First Strategy as Profit Climbs 61% (DOCS)

    Dr. Martens Shifts to Consumer-First Strategy as Profit Climbs 61% (DOCS)

    Dr. Martens (LSE:DOCS) returned to profit growth during the 52 weeks ended 29 March 2026, posting a 61% increase in adjusted profit before tax to £55 million. Revenue declined 2.9% to £764.9 million, reflecting the company’s intentional reduction in clearance and off-price sales activity.

    The footwear group highlighted strong momentum in its shoes category, where revenue increased 19%. Gross margin improved by 120 basis points to 66.2%, while net debt was reduced over the period. The company also maintained its dividend at 2.55 pence per share, underscoring management’s confidence in cash flow generation and the strength of the balance sheet.

    Dr. Martens said it has now completed the “pivot” phase of its three-part strategic plan, transitioning from a channel-focused approach to a consumer-first operating model. This included reducing discounted wholesale volumes in the U.S., expanding newer product ranges, and restructuring the business around a market-led organisation.

    Looking ahead to FY27, the company plans to move into the next “scale” phase of the strategy. Priorities will include increasing investment in brand development, enhancing selected high-potential retail locations, and strengthening wholesale relationships. Management expects adjusted profit before tax to continue growing through operational leverage, although changes to the retail strategy are expected to create some near-term pressure on revenue amid an uncertain economic backdrop.

    The company’s broader stock outlook remains mixed. Financial performance continues to face pressure from lower revenue and profitability trends, while technical indicators point to weak market momentum and valuation metrics suggest the shares may be expensive. However, recent corporate developments and management commentary have provided some encouragement regarding the group’s long-term strategic direction.

    More about Dr. Martens Plc

    Dr. Martens plc is a UK-based footwear brand known for products including the 1460 boot, 1461 shoe, loafers and Mary Janes. The company sells through both direct-to-consumer and wholesale channels across the Americas, EMEA and APAC regions, with an increasing focus on higher-margin full-price sales and a consumer-led retail strategy.

  • European Markets Trade Mixed as Investors Monitor Middle East Tensions: DAX, CAC, FTSE100

    European Markets Trade Mixed as Investors Monitor Middle East Tensions: DAX, CAC, FTSE100

    European equities showed a mixed performance in cautious trading on Monday as investors continued to monitor rising geopolitical tensions in the Middle East.

    G7 Ministers Meet Amid Economic and Geopolitical Pressures

    Finance ministers from the G7 nations are meeting in Paris today and tomorrow to address global economic imbalances, with geopolitical divisions threatening to challenge unity within the group.

    At the same time, eurozone government bond yields moved higher, led by Germany’s 10-year bond yield, which climbed to its highest level in 15 years. Investors remain concerned that sharply higher crude oil prices could intensify inflationary pressures and influence the path of interest rates.

    Brent crude futures advanced above $110 per barrel after U.S. President Donald Trump warned Iran that the “clock is ticking” regarding peace negotiations.

    Major European Indices Turn Mixed

    Among the leading European indices, France’s CAC 40 was down 0.4%, while the U.K.’s FTSE 100 gained 0.4% and Germany’s DAX rose 0.8%.

    Ryanair, Prudential and Anglo American Decline

    Shares of Ryanair (LSE:0A2U) moved sharply lower after the low-cost airline cautioned that rising costs could weigh on performance this year.

    Prudential (LSE:PRU) also traded lower after announcing the acquisition of a 75% stake in Bharti Life Insurance.

    Meanwhile, mining group Anglo American (LSE:AAL) declined after agreeing to sell its Australian coal mining business to privately owned Dhilmar in a deal valued at $3.88 billion.

    Hove Advances on Strong Quarterly Results

    Elsewhere, Danish engineering and industrial technology company Hove rallied after reporting record first-quarter revenue and profit growth.

  • Market Open: Anglo American Coal Sale, Ryanair Outlook

    Market Open: Anglo American Coal Sale, Ryanair Outlook

    FTSE 100 steadies as Anglo American sells coal mines and Ryanair warns on fuel costs while Brent crude and Bitcoin decline.

    Market Overview

    European equities moved lower in early trade as geopolitical tensions in the Middle East and renewed concerns over energy supply routes weighed on sentiment. The FTSE 100 edged higher by 0.03 per cent to 10,192.68, while the CAC40 fell 1.60 per cent and the DAX dropped 2.07 per cent. In the US, the Nasdaq slipped 0.25 per cent and the S&P 500 declined 0.20 per cent as investors monitored G7 finance discussions and developments around Iran and the Strait of Hormuz.

    Commodity markets remained volatile, with Brent crude easing slightly despite ongoing concerns over supply disruption risks linked to the Middle East. Gold traded higher as investors sought defensive assets, while copper weakened amid broader risk-off sentiment. Sterling strengthened modestly against the US dollar, euro and yen, while Bitcoin weakened against the pound.

    Market Numbers

    FTSE 100: Up (0.03%), 10,192.68
    CAC40: Down (-1.60%), 7,952.550
    DAX: Down (-2.07%), 23,950.57
    NASDAQ: Down (-0.25%), 29,062.2
    S&P 500: Down (-0.20%), 7,382.2

    In the Headlines

    Coal Mine Disposal – Anglo American (LSE:AAL)

    Anglo American has agreed to sell its Australian steelmaking coal mines for £2.9 billion as the miner continues its broader restructuring programme. The disposal supports the company’s strategy to focus on copper and premium assets while reducing exposure to more cyclical operations.

    Outlook Pressure – Ryanair (LSE:0A2U)

    Ryanair shares fell after the airline warned that fuel costs and Middle East geopolitical risks could affect its FY27 outlook despite reporting strong annual profits. Investors remain focused on how sustained oil price volatility may impact airline margins across Europe.

    Currencies (vs GBP)

    USD: Up (0.27%), $1.3357
    CHF: Down (-0.02%), Fr.1.04832
    EUR: Up (0.13%), €1.1472
    JPY: Up (0.27%), ¥212.130
    AUD: Up (0.14%), $1.866050
    Bitcoin (BTC/GBP): Down (-0.88%), £57,680.9

    Commodities

    Copper: Down (-0.30%), 6.2888
    Gold: Up (0.30%), 4,558.66
    Brent Crude: Down (-0.61%), 106.815
    Natural Gas: Up (0.51%), 3.1825

  • European markets retreat as higher bond yields and oil prices pressure sentiment: DAX, CAC, FTSE100

    European markets retreat as higher bond yields and oil prices pressure sentiment: DAX, CAC, FTSE100

    European equities traded lower on Monday as investors reacted to another rise in government bond yields and energy prices following fresh drone attacks in the Gulf region.

    By 07:02 GMT, the pan-European Stoxx 600 index had fallen 0.8%, while Germany’s DAX slipped 0.5%. France’s CAC 40 declined 1.1% and the UK’s FTSE 100 eased 0.3%.

    Market sentiment weakened after a drone strike targeted a nuclear power facility in the United Arab Emirates, while Saudi Arabia confirmed it had intercepted three drones. U.S. President Donald Trump also urged Iran to move “fast” toward securing a long-term peace agreement, adding pressure to an already fragile ceasefire between Washington and Tehran.

    Oil prices continued climbing amid the geopolitical tensions, with Brent crude futures rising 1.4% to trade at $110.75 per barrel.

    The increase in energy prices has fueled expectations that a prolonged supply shock could trigger another wave of inflation, potentially forcing central banks to keep interest rates elevated or tighten policy further. As a result, sovereign bond yields moved higher across major global markets, with bond prices falling accordingly.

    In Europe, yields on 10-year government bonds in Germany, France, Italy and Spain all advanced. Globally, the yield on the U.S. 10-year Treasury touched its highest level in 15 months, while Japanese bond yields climbed to levels not seen since 1996.

    Despite concerns that an extended conflict involving Iran could weaken the global economic outlook, equity markets have so far shown resilience, supported by ongoing enthusiasm surrounding artificial intelligence.

    Investor optimism linked to AI spending will face another major test later this week when semiconductor leader NVIDIA (NASDAQ:NVDA) publishes its latest quarterly results.

    “We think AI sentiment can lift the market further this year, but the rally is likely to remain fragile until war in Iran is resolved and the rest of the market joins in,” analysts at Capital Economics said in a note on Friday.

  • FTSE 100 slips as Iran tensions and UAE attack unsettle global markets

    FTSE 100 slips as Iran tensions and UAE attack unsettle global markets

    UK equities traded lower on Monday as escalating tensions surrounding the U.S.-Iran conflict weighed on investor sentiment after reports of new drone strikes targeting a UAE nuclear facility and fresh warnings from U.S. President Donald Trump toward Tehran intensified concerns over global energy supply disruption.

    The FTSE 100 fell 0.15%, while Germany’s DAX declined 0.60% and France’s CAC 40 lost 1.05%. Sterling strengthened 0.20% against the dollar to 1.3352 as of 03:10 ET (07:10 GMT).

    Trump warning and nuclear facility attack deepen market concerns

    Market anxiety increased after Trump posted on Truth Social on Sunday that Iran must “get moving, FAST, or there won’t be anything left of them,” adding that “TIME IS OF THE ESSENCE.”

    The remarks came as negotiations between Washington and Tehran appeared stalled, with Iranian Foreign Minister Abbas Araghchi stating that Tehran “cannot trust the Americans at all” and describing trust as “the main obstacle to any diplomatic effort.”

    Fresh concerns also emerged after a drone struck an electrical generator outside the Barakah Nuclear Power Plant in Abu Dhabi on Sunday, with suspicion quickly turning toward Iran.

    The UAE’s nuclear regulator confirmed there had been no radiation leak and that all plant units remained operational. However, International Atomic Energy Agency Director General Rafael Grossi expressed “grave concern,” warning that military activity threatening nuclear safety was unacceptable. Saudi Arabia, Qatar, Canada and India were among the countries condemning the attack.

    Axios reported that Trump is expected to convene a Situation Room meeting with senior national security officials on Tuesday to discuss military options, although the president also said he remained open to negotiations if Iran presents a revised proposal.

    UK corporate developments

    Anglo American (LSE:AAL) agreed to sell its Australian steelmaking coal operations to UK-registered Dhilmar Limited for up to $3.875 billion in cash, continuing its strategy of simplifying the business ahead of its planned merger with Teck Resources.

    The miner also disclosed that a Chilean tribunal had overturned the environmental permit for the desalination project linked to the Collahuasi copper mine, although Anglo said it does not currently expect any immediate impact on production while the implications of the ruling are clarified.

    Meanwhile, Standard Chartered (LSE:STAN) appointed Manus Costello as interim Group Chief Financial Officer with immediate effect and named Tanuj Kapilashrami as Group Chief Operating Officer as part of broader changes to its senior leadership structure.

  • Anglo American agrees coal asset sale worth up to $3.9 billion (AAL)

    Anglo American agrees coal asset sale worth up to $3.9 billion (AAL)

    Anglo American PLC (LSE:AAL) announced on Monday that it has reached an agreement to sell its Australian steelmaking coal operations to Indonesia-based Dhilmar Ltd in a transaction valued at up to $3.875 billion in cash.

    Deal structure includes upfront payment and earnout

    Under the terms of the agreement, Anglo will receive an initial cash payment of $2.3 billion, with the remaining value tied to a price-linked earnout mechanism, according to the company’s statement. The mining group said proceeds from the disposal will be used to lower its net debt position.

    Portfolio reshaping continues ahead of Teck merger

    The divestment forms part of Anglo American’s broader strategy to streamline its portfolio ahead of its planned merger with Canada’s Teck Resources (NYSE:TECK). The combination is intended to create a mining company focused primarily on copper and other critical minerals.

    Anglo had previously agreed to sell the same steelmaking coal assets to Peabody, but that transaction collapsed in 2025 after a serious accident at the Moranbah North mine forced a suspension of production at the portfolio’s largest operation.

    Peabody later terminated the purchase agreements and entered arbitration proceedings with Anglo regarding a dispute over a deposit payment. Anglo confirmed on Monday that it continues to pursue the arbitration process alongside the newly announced transaction.

    Dhilmar expands into Australian mining sector

    Dhilmar remains a relatively new entrant to the Australian mining industry and currently has no major assets in the country. The company is registered in the UK and operates from Indonesia.