Category: Top Story

  • Debenhams Group Sells Sheffield Distribution Assets to Primark for £90 Million

    Debenhams Group Sells Sheffield Distribution Assets to Primark for £90 Million

    Boohoo Group Plc (LSE:DEBS), trading as Debenhams Group, has agreed to sell automation equipment at its Sheffield distribution centre and reassign the site’s lease to Primark for £90 million in cash.

    The company said the proceeds will be used to reduce debt, with net debt expected to fall to a negligible level by the end of its financial year in February 2027.

    Debenhams Group expects the transaction to reduce depreciation, interest and lease costs as it continues its transition towards a capital-light and stock-light marketplace business model.

    The company has also entered into an agreement with a global third-party logistics provider to handle fulfilment outside its fashion operations. The arrangement will allow the group to outsource parts of its logistics operations as it reduces its reliance on owned infrastructure.

    GMV Growth Accelerates in Second Quarter

    Debenhams Group said gross merchandise value returned to growth during the first quarter and that the rate of growth accelerated further in the second quarter.

    The company is seeking to increase the proportion of gross merchandise value generated through marketplace activity to well above 50%, with third-party brands and partners accounting for a greater share of sales through its platforms.

    Debenhams Group is scheduled to provide its half-year trading update on 17 September 2026.

    More about Boohoo Group Plc

    Boohoo Group Plc, trading as Debenhams Group, operates online platforms across fashion, home and beauty.

    Its shopping destinations include Debenhams, Karen Millen, boohoo, MAN and PrettyLittleThing.

    The group is transitioning towards a marketplace-led operating model involving a greater proportion of third-party brands and partners. Its strategy includes reducing inventory requirements and the amount of capital committed to logistics infrastructure.

  • Wall Street set for weaker open as oil rally renews inflation concerns: Dow Jones, S&P, Nasdaq, Futures

    Wall Street set for weaker open as oil rally renews inflation concerns: Dow Jones, S&P, Nasdaq, Futures

    Wall Street was on course to open lower on Wednesday as another rise in crude oil prices added to concerns over inflation and the outlook for U.S. interest rates.

    Brent crude climbed through $100 a barrel for the first time since July, while U.S. crude futures gained around 3% following further military exchanges involving the U.S. and Iran.

    U.S. forces destroyed five Iranian crude carriers after Iran’s Islamic Revolutionary Guard Corps targeted a U.S. Navy warship with ballistic missiles.

    U.S. Central Command said the tankers formed part of a multibillion-dollar network used to finance the IRGC and regional groups aligned with Tehran.

    Iran subsequently launched missiles targeting U.S. military positions in Jordan, adding to concerns about the possibility of a broader regional conflict.

    Oil rally raises questions over Fed policy

    The latest increase in energy prices has brought inflation risks back into focus ahead of the Federal Reserve’s monetary policy meeting next week.

    “Brent crude pushing above $100 a barrel has had a psychological effect on the market, pushing a hypothetical inflation worry gauge to ‘serious’ status and dragging down financial assets,” said Dan Coatsworth, head of markets at AJ Bell.

    “The oil price has now jumped by 28% since early August,” Coatsworth added. “This type of ascent could leave businesses and consumers feeling sick at the thought of sharp cost increases and potentially higher borrowing costs if central banks choose to fight inflation with interest rate hikes.”

    Attention will also turn to U.S. consumer and producer inflation figures due later this week. The data could shape expectations for the Fed’s next interest rate decision.

    U.S. indices extend losses after Labor Day break

    The expected weaker open follows declines across Wall Street on Tuesday, when markets returned from the Labor Day weekend.

    The Dow Jones Industrial Average recorded the largest decline among the major indices, dropping 628.18 points, or 1.2%, to 52,786.07.

    The S&P 500 fell 45.08 points, or 0.6%, to 7,673.52, while the Nasdaq Composite finished 85.58 points, or 0.3%, lower at 26,421.41.

    Tuesday’s declines also coincided with higher oil prices after U.S. forces struck three Iranian crude carriers over the weekend following Iranian missile launches towards two U.S. Navy vessels.

    Iran has threatened further retaliation if the U.S. attacks additional Iranian assets, while Saudi-led coalition forces have said they will respond to attacks by Houthi forces.

    Separately, Tehran said an agreement with Oman over the management of shipping through the Strait of Hormuz could be announced shortly.

    Pharmaceuticals and housing stocks decline

    Amgen (NASDAQ:AMGN) was among the largest individual decliners on Tuesday, falling more than 10% after Novartis (NYSE:NVS) released late-stage trial results for a competing cholesterol treatment.

    Weakness spread across the pharmaceutical sector, sending the NYSE Arca Pharmaceutical Index down 3.2%.

    Housing shares also came under pressure as Treasury yields increased. The Philadelphia Housing Sector Index declined 2.8%.

    Healthcare, biotechnology and airline stocks recorded further losses, while oil, semiconductor and networking shares were among the areas of the market that moved higher.

  • European stocks fall as Middle East strikes intensify and markets await ECB decision: DAX, CAC, FTSE100

    European stocks fall as Middle East strikes intensify and markets await ECB decision: DAX, CAC, FTSE100

    European equities moved lower on Wednesday following further military exchanges involving the U.S. and Iran, while investors also prepared for the European Central Bank’s monetary policy decision on Thursday.

    U.S. forces destroyed five Iranian tankers, while Iran subsequently launched missile strikes targeting Jordan, adding to the continuing conflict in the Middle East.

    Markets were also pricing in a 25-basis-point interest rate increase from the ECB at Thursday’s meeting.

    France’s CAC 40 fell 1.9%, Germany’s DAX declined 1.7% and the UK’s FTSE 100 was down 1.1%.

    Energy shares rise as Brent moves above $100

    Energy companies were among the stocks moving higher as Brent crude rose above $100 a barrel.

    BP Plc (LSE:BP.), Shell (LSE:SHEL) and TotalEnergies (EU:TTE) advanced as oil prices increased amid concerns about potential further disruption to global supplies from the Gulf region.

    Elsewhere, Swiss building materials company Holcim (TG:HLBN) declined after investing in Cloud Cycle, a UK-based start-up that provides a real-time data system for ready-mix concrete operations.

    French tubular solutions provider Vallourec (EU:VK) also traded lower after signing an agreement with Saudi Aramco to supply Oil Country Tubular Goods pipes.

    Victrex, Energean and Aberdeen move higher

    Victrex (LSE:VCT) rose after increasing its full-year pre-tax profit guidance and appointing an interim Chief Financial Officer.

    Energean (LSE:ENOG) also advanced after reporting a 45% increase in first-half profit.

    Aberdeen (LSE:ABDN) moved higher after appointing Torbjorn Magnusson as its new chair.

  • Molten Ventures: New Growth Fund Puts More Firepower Behind Europe’s Next Technology Leaders

    Molten Ventures: New Growth Fund Puts More Firepower Behind Europe’s Next Technology Leaders

    European technology companies may have no shortage of ambition, innovation or world-class ideas, but turning those ideas into global businesses requires something equally important: growth capital.

    For Molten Ventures (LSE:GROW), that need is creating a significant opportunity.

    The company has announced the first close of its new Growth Fund, bringing together £100 million from its listed balance sheet with a further £75 million cornerstone commitment from the British Business Bank. With an initial £175 million secured, Molten’s ambition is to scale the fund to as much as £350 million, providing substantially more capital to high-growth technology companies across the UK and Europe.

    Speaking on The Watch List, Molten Ventures CEO Ben Wilkinson described the fund as a continuation of a strategy the business has developed over the past decade.

    Molten has already invested more than £700 million across more than 40 deals through its Series B+ strategy, giving the new fund an established investment framework and a substantial body of experience to build upon.

    The key difference is additional firepower.

    By bringing external capital alongside Molten’s listed balance sheet, the company can increase its capacity to support businesses as they transition from promising technology companies into larger, internationally competitive scaleups.

    Backing Europe’s technology ambitions

    The timing of the fund is particularly interesting.

    Across Europe, there is increasing recognition that technological capability is becoming strategically important. Artificial intelligence, quantum computing and space technology are not simply commercial opportunities; they are increasingly linked to economic competitiveness, resilience and national sovereignty.

    Molten’s strategy is aimed squarely at this opportunity.

    The Growth Fund is focused on technology companies operating in areas including AI, space and quantum, where significant capital is often required to move from technological breakthrough to commercial scale.

    For investors, that creates the potential for Molten to participate in some of Europe’s most important emerging technology themes at a stage where access to growth capital can have a transformational impact.

    Space highlights the opportunity

    The space sector provides a particularly clear example.

    Europe’s growing push towards sovereign access to space is creating opportunities across the ecosystem, from satellite technology and communications through to launch infrastructure.

    Recent successful orbital launch activity has underlined the progress being made in European space technology and the strategic importance of developing domestic launch capability.

    For Molten, this is not a new theme.

    The company has been investing in the satellite ecosystem since 2018, when it first backed Finnish satellite business ICEYE, later adding UK-based Satellite Vu, before more recently expanding its exposure to launch capability through Isar Aerospace.

    That experience gives Molten an increasingly broad view of the space economy, rather than concentrating on a single part of the value chain.

    As Wilkinson explained, the development of new technologies and capabilities is opening up additional sub-sectors and, consequently, more potential investment opportunities.

    From European innovation to global scale

    Perhaps the most important element of the new Growth Fund is its focus on scale.

    Europe has consistently demonstrated its ability to produce innovative technology companies. The challenge has often been providing sufficient capital to allow those businesses to remain anchored in Europe while competing on a global stage.

    The Growth Fund is designed to address precisely that gap.

    With £175 million already committed and an ambition to reach £350 million, the fund has the potential to provide meaningful growth capital to companies entering an important stage of their development.

    For Molten, this also builds on a decade of investment experience and an existing portfolio of technology businesses.

    The combination of capital, sector expertise and an established European network could provide the company with a strong platform as demand for growth-stage technology investment continues to develop.

    A compelling intersection of capital and opportunity

    The new fund ultimately represents more than simply an increase in the amount of money Molten can deploy.

    It reinforces the company’s positioning at the intersection of several powerful long-term trends: artificial intelligence, quantum computing, space technology, European technological sovereignty and the growing requirement for substantial capital to scale innovative businesses.

    With the British Business Bank providing a significant cornerstone commitment, Molten has secured an important first step towards its £350 million target.

    The opportunity now is to put that capital to work.

    If Europe’s next generation of technology companies can translate innovation into global growth, Molten Ventures is positioning itself to be one of the investors helping them make that journey.

    For more information visit – https://www.moltenventures.com/

  • Brent briefly hits $100 as investors track Gulf conflict and interest rate outlook: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Brent briefly hits $100 as investors track Gulf conflict and interest rate outlook: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Brent crude briefly reached $100 a barrel on Wednesday as investors monitored further military exchanges involving the United States and Iran, while U.S. equity futures showed limited movement ahead of upcoming inflation data and central bank meetings.

    At 02:48 ET (06:48 GMT), S&P 500 futures were 6 points higher, equivalent to 0.1%, and Nasdaq 100 futures advanced 57 points, or 0.2%. Dow futures were little changed.

    The moves followed a lower close for U.S. equities on Tuesday amid attacks involving the U.S. and Iran and strikes on Saudi Arabia by Iranian-backed Houthi forces in Yemen.

    Artificial intelligence developments also influenced trading. Market reaction to OpenAI’s GPT-6 Astra model weighed on software and services shares, while some semiconductor and data centre-related companies attracted buying interest.

    Meanwhile, the benchmark 10-year U.S. Treasury yield remained just below 5%, close to its highest level in almost 20 years.

    The U.S. Treasury is due to implement an increase in longer-duration debt buybacks on Wednesday, with the size of purchases set to at least double to $4 billion per operation.

    Vital Knowledge analysts said the eventual repurchase amounts could exceed that level and be “perhaps as large as $10 billion.”

    Military activity continues around the Gulf

    Iran’s Islamic Revolutionary Guard Corps said it attacked a military base in Jordan used by U.S. forces and targeted 10 vessels on Wednesday.

    Iran said the strikes caused heavy damage, while Jordanian officials provided a different account. They said 18 of 20 Iranian missiles were intercepted, with two landing in unpopulated areas.

    The IRGC separately said two U.S. vessels and eight oil tankers had been targeted while attempting to pass through a section of the Strait of Hormuz that it described as “prohibited and unsafe.”

    According to the supplied report, commercial shipping through the Strait has effectively remained closed during the conflict.

    The attacks followed U.S. strikes that destroyed five Iranian oil tankers.

    U.S. Secretary of State Marco Rubio, speaking during a visit to Colombia, indicated that further exchanges could occur, saying Iran will “lose tankers” when it tries to “hit U.S. naval ships.”

    Oil markets monitor Hormuz developments

    Brent crude futures briefly traded at $100 a barrel before easing slightly to $99.91 at 03:16 ET, still up 2.0% on the session.

    Vital Knowledge analysts said continued U.S. efforts to transport non-Iranian crude through the Strait of Hormuz and expectations surrounding a possible shipping arrangement between Iran and Oman had moderated some of the upward pressure on prices.

    Oil prices are also being watched for their potential implications for inflation ahead of upcoming central bank decisions.

    The European Central Bank is expected to increase borrowing costs at its Thursday meeting as policymakers assess energy-related inflation pressures.

    Market pricing also indicated an approximately 60% probability that the Federal Reserve will raise interest rates at its meeting next week.

    US-Canada trade measures take effect this month

    Trade policy was another focus after U.S. President Donald Trump signed orders restricting imports of certain Canadian goods.

    The measures cover products including alcoholic beverages, motorcycles and dairy products and are scheduled to take effect on September 29.

    The U.S. action followed retaliatory Canadian tariffs on American products that took effect on Tuesday. Those measures followed the introduction by Washington last month of 50% tariffs covering $20 billion of Canadian goods.

    Canadian Prime Minister Mark Carney has said Canada should consider broadening its trade relationships beyond the United States as the dispute continues.

    Yen trades close to strongest level since February

    In foreign exchange markets, the Japanese yen remained near its strongest level in seven months.

    USD/JPY was trading around 153.18 after reaching 152.89 on Tuesday. The yen has appreciated by approximately 4% during September.

    Markets have been assessing expectations for additional monetary tightening from the Bank of Japan, the possibility of Japanese investors bringing overseas funds back into the country and U.S. pressure for a stronger Japanese currency.

    The U.S. dollar index remained close to a nearly two-week low as investors awaited Friday’s U.S. inflation report and next week’s Federal Reserve and Bank of Japan meetings.

  • Market Open: Mortgage Advice Bureau Cuts Guidance, Anpario Grows

    Market Open: Mortgage Advice Bureau Cuts Guidance, Anpario Grows

    UK markets open cautiously as Gulf tensions pressure shares, Mortgage Advice Bureau cuts guidance and Anpario reports earnings growth.

    Market Overview

    The FTSE 100 opened broadly unchanged at 10,811.44, down 0.002 per cent from its previous close, as escalating Middle East strikes and renewed concerns over regional oil supplies weighed on sentiment. The Euronext 100 gained 0.04 per cent to 1,921.92, while Germany’s DAX fell 0.57 per cent to 25,858.82 as investors also weighed the prospect of further ECB tightening. In the US, the Nasdaq closed lower at 26,421.41 and the S&P 500 declined to 7,673.52.

    Commodity moves were mixed, with copper and Brent crude lower at the market open, gold unchanged and natural gas slightly higher. Oil remained a key macro focus as escalating attacks in the Middle East heightened concerns over regional supply disruption. Against sterling, the US dollar, Swiss franc, euro and Australian dollar strengthened marginally, while the Japanese yen weakened slightly. Bitcoin was up.


    Market Numbers

    FTSE 100: Down (-0.002%), 10,811.44
    Euronext 100: Up (+0.04%), 1,921.92
    DAX: Down (-0.57%), 25,858.82
    NASDAQ: Down, 26,421.41
    S&P 500: Down, 7,673.52


    In the Headlines

    Guidance lowered – Mortgage Advice Bureau (LSE:MAB1)
    Mortgage Advice Bureau lowered its full-year 2026 adjusted profit before tax guidance to around £38 million, below market consensus, citing softer housing conditions and delayed lead flows at Fluent. The mortgage intermediary expects the delayed Fluent profit contribution to shift into 2027.

    Earnings growth – Anpario (LSE:ANP)
    Animal feed additives manufacturer Anpario reported first-half revenue growth of 7% to £24.3 million, while adjusted EBITDA increased 22% to £5.0 million. Growth in key brands and the Americas supported the performance, although weaker Asian demand and the Iran conflict created regional headwinds.


    Currencies (vs GBP)

    USD: Up (+0.01%), $1.3544
    CHF: Up (+0.004%), Fr.1.0958
    EUR: Up (+0.01%), €1.1648
    JPY: Down (-0.01%), ¥207.837
    AUD: Up (+0.003%), $1.8756
    Bitcoin (BTC/GBP): Up, £58,428.84


    Commodities

    Copper: Down
    Gold: Unchanged
    Brent Crude: Down
    Natural Gas: Up

  • FTSE 100 falls as Gulf conflict pushes Brent close to $100 a barrel

    FTSE 100 falls as Gulf conflict pushes Brent close to $100 a barrel

    The FTSE 100 moved lower on Wednesday as investors assessed further military developments involving the United States and Iran, while Brent crude approached $100 a barrel.

    The UK benchmark was down 0.28% as of 03:18 ET (07:18 GMT). Elsewhere in Europe, Germany’s DAX declined 0.52% and France’s CAC 40 fell 0.70%.

    Sterling gained 0.19% against the U.S. dollar to $1.3567.

    Oil prices continued to rise, with Brent crude up 2.1% at $99.97 a barrel and West Texas Intermediate gaining 1.71% to $94.64.

    Precious metals also moved higher. Gold futures increased 0.22% to $4,448.94, while spot gold was up 1.14% at $4,404.93.

    The market moves came as the United States and Iran reported further military activity in and around the Gulf.

    U.S. Central Command said it had destroyed five Iranian crude carriers after Iran’s Islamic Revolutionary Guard Corps twice fired ballistic missiles at a U.S. Navy warship. CENTCOM said the vessel avoided both missile attacks and that no U.S. personnel were injured.

    The IRGC said its forces had targeted two U.S. vessels, eight oil tankers and 10 other “violating ships” in the Strait of Hormuz.

    The IRGC also said it had carried out missile strikes against the U.S. al-Azraq base in Jordan, targeting facilities associated with F-35, F-16 and F-15 aircraft. Jordan’s military said it intercepted 18 of 20 missiles fired at its territory, with the remaining two landing in open areas without causing damage.

    Separately, Reuters-sourced reporting indicated that Oman and Iran are expected to announce a temporary shipping corridor through the Strait of Hormuz within days.

    CENTCOM also released footage showing an Iranian vessel sinking in the Gulf of Oman. Shipping data for the Strait of Hormuz showed six commodity vessels transited the waterway on Tuesday, compared with a 10-day average of 12.

    Jefferies’ Mohit Kumar said “Middle East tensions continue to dominate markets” and that a rise in Brent toward $100 “could also draw some optimism that oil prices are reaching a pain point which would make Trump more willing to do a deal.”

    ING strategists said “recent developments only reinforce the view that we’re still some way from a restart in talks,” adding that the market “is likely to continue to price in a sizeable risk premium.”

    UK company news

    Aberdeen (LSE:ABDN) appointed former Sampo chief executive Torbjörn Magnusson as chair-designate and non-executive director. He is set to succeed Douglas Flint, who plans to step down at the company’s annual general meeting in April. Magnusson previously led Sampo and oversaw its £1.7 billion acquisition of Hastings Group.

    Energean (LSE:ENOG) reported a 45% increase in first-half profit, supported by the recognition of deferred tax assets in Italy. The company maintained its annual production guidance following the restart of its Israeli operations.

  • European energy shares rise as Middle East conflict lifts Brent toward $100

    European energy shares rise as Middle East conflict lifts Brent toward $100

    European oil and gas shares moved higher on Tuesday as an escalation in the Middle East coincided with crude prices reaching their highest levels since late July.

    Brent crude futures gained 2.1% to $99.93 a barrel by 04:09 ET (08:09 GMT), putting the international benchmark close to $100. U.S. West Texas Intermediate crude rose 1.4% to $94.31 a barrel.

    The STOXX Europe 600 Oil & Gas Index advanced 0.8%, making energy one of the leading sectors within the broader European market.

    Among individual companies, TotalEnergies (EU:TTE), Eni (BIT:ENI), Neste (TG:NEF) and Galp Energia (EU:GALP) gained between 1.2% and 1.9%. Maurel & Prom (EU:MAU) rose 0.8%, while Equinor (TG:DNQ) advanced 3.1% and Repsol (TG:REP) increased 2.1%.

    UK-listed energy companies also moved higher, with Shell (LSE:SHEL) gaining 1.2% and BP (LSE:BP.) rising 1.8%.

    The market moves followed a further escalation in the six-month conflict in the Middle East. Iranian-backed Houthi forces in Yemen carried out strikes on several Saudi cities, while U.S. forces struck multiple Iranian oil tankers. Iran also targeted a U.S. base in Jordan and shipping vessels.

    The developments added to existing disruptions affecting Middle Eastern energy infrastructure and shipping routes, increasing uncertainty surrounding regional oil supplies.

    Brent crude has risen by approximately 25% since early August as fighting in the region resumed and expectations for a lasting resolution to the conflict diminished.

  • Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin PLC (LSE:GDWN) said it is in advanced discussions over the potential sale of a substantial part of its Mechanical Engineering division for headline cash consideration of up to approximately £1.1 billion.

    The proposed transaction would involve Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps. The potential buyer is funds advised by Cerberus Capital Management, L.P.

    The headline cash consideration would be subject to customary closing adjustments.

    Goodwin described Cerberus as an investor with relevant industry experience. The company has not confirmed that an agreement will be reached or that a transaction will ultimately be completed.

    Goodwin first confirmed a strategic review on August 7 following press speculation. At the time, the company said the review was examining options to maximise shareholder value while maintaining continuity for customers and other stakeholders.

    Rothschild & Co is advising Goodwin’s board on the strategic review.

    Goodwin shares rose on Wednesday following the announcement of the advanced discussions.

  • Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario (LSE:ANP) reported revenue of £24.3 million for the six months ended 30 June 2026, an increase of 7% from the prior-year period, while adjusted EBITDA rose 22% to £5.0 million.

    Profit before tax increased 11%, and the animal feed additives manufacturer raised its interim dividend. The company attributed the earnings performance in part to pricing and lower underlying administrative costs.

    Sales from Anpario’s key brands, which account for almost 80% of group revenue, increased 17% and reached a record level during the period.

    Regional growth was led by India, the Middle East and Africa, alongside the Americas, which is now Anpario’s largest market. The company said its acquisition of Bio-Vet and the integration of the commercial teams contributed to sales growth in the United States and provided additional opportunities to sell products across the combined customer base.

    Revenue in Asia declined 9%, primarily reflecting lower demand for mycotoxin binder products. Anpario attributed the decrease to economic conditions in the region and the impact of the Iran conflict.

    The company continues to increase its focus on higher-value feed additives and plans to rebrand Bio-Vet under the Anpario name.

    More about Anpario

    Anpario plc is a UK-listed manufacturer of animal feed additives focused on animal health, nutrition and biosecurity.

    Its product portfolio includes Orego-Stim, Optomega, pHorce, Mastercube and the Bio-Vet range. The company sells through direct operations and distribution channels across markets including the Americas, India, the Middle East, Africa and Asia.

    Anpario’s acquisition of Bio-Vet expanded its activities in ruminant nutrition, including in the United States.