Category: Top Story

  • Great Western Mining Advances Defender Pine Crow as Tungsten Potential Continues to Grow

    Great Western Mining Advances Defender Pine Crow as Tungsten Potential Continues to Grow

    As global demand for critical minerals continues to accelerate, tungsten has emerged as one of the world’s most strategically important commodities. With governments across the US and allied nations prioritising secure domestic supply chains for defence, advanced manufacturing and high-tech industries, exploration projects capable of delivering new sources of tungsten are attracting increasing investor attention.

    Great Western Mining Corporation is positioning itself firmly within this trend, with recent exploration results from its Defender Pine Crow Project in Nevada providing further evidence that the company could be defining a significant district-scale tungsten system.

    Speaking on The Watchlist, Great Western Mining (LSE:GWMO) (USOTC:GWMOF) CEO Edward Loye highlighted the importance of the company’s latest channel sampling programme, which has substantially strengthened confidence ahead of the project’s maiden drilling campaign.

    A Growing Mineralised Corridor

    Historically, tungsten occurrences at Defender Pine Crow were viewed as isolated deposits that were mined during the Second World War era. However, extensive geological mapping, trenching and exploration completed by Great Western have transformed that understanding.

    The company’s latest work has identified a mineralised corridor extending approximately 2 to 3 kilometres, with broad zones of tungsten mineralisation exposed at surface.

    According to Edward Loye, these results compare favourably with neighbouring tungsten projects in Nevada, while the near-surface nature of the mineralisation provides encouraging potential for future open-pit mining.

    Rather than representing a series of disconnected occurrences, the evidence increasingly points towards a continuous district-scale system that now requires drilling to evaluate its depth and overall size.

    Drill Programme on Schedule

    The exploration work completed to date has also enabled Great Western to refine its maiden drill targets with a high degree of confidence.

    Detailed geological mapping, gravity geophysics and trenching have all contributed to defining priority drill locations, with preparations already underway for drilling to commence in the coming weeks.

    The company remains on schedule to deliver a maiden Mineral Resource Estimate before the end of the year, representing a significant milestone in the project’s development.

    Encouraging Economics

    Beyond the scale of the mineralisation, the latest results also continue to strengthen the project’s economic outlook.

    The company has reported:

    • Broad zones of tungsten mineralisation.
    • Low levels of undesirable penalty elements.
    • Encouraging silver credits that could enhance future project economics.

    Alongside drilling, Great Western has begun preliminary metallurgical testing to demonstrate that conventional processing methods can successfully recover the tungsten mineralisation.

    This proof-of-concept work is expected to further de-risk the project while supporting future development studies.

    Positioned Within a Strategic US Jurisdiction

    Nevada has a long history of tungsten production and has become an increasingly attractive jurisdiction as the United States looks to strengthen domestic supplies of critical minerals.

    Edward Loye noted that both government policy and market sentiment are increasingly supportive of projects capable of contributing to US resource security.

    While Defender Pine Crow remains at an earlier stage than some regional peers, Great Western believes it possesses many of the same geological characteristics that have underpinned successful tungsten discoveries elsewhere in Nevada.

    With strong exploration momentum, favourable jurisdictional advantages and growing strategic importance, the project is well aligned with broader industry trends.

    Looking Ahead

    The latest exploration results mark another positive step in the evolution of Defender Pine Crow.

    As Great Western Mining moves into its maiden drilling programme, investors will be watching closely to see whether the mineralised corridor extends at depth and whether the project can ultimately support a significant tungsten resource.

    Against a backdrop of increasing global competition for critical minerals, Defender Pine Crow is emerging as a project with the potential to play an important role in future Western tungsten supply, while offering shareholders exposure to one of the mining sector’s fastest-growing strategic commodities.

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

  • Wall Street Pauses Before Earnings Season as Investors Monitor Inflation and Corporate Outlook: Dow Jones, S&P, Nasdaq

    Wall Street Pauses Before Earnings Season as Investors Monitor Inflation and Corporate Outlook: Dow Jones, S&P, Nasdaq

    U.S. equity futures traded close to unchanged on Friday as investors adopted a cautious approach following Thursday’s rally, with attention shifting toward the upcoming earnings season and key inflation data due next week.

    With limited economic releases scheduled before the weekend, markets appeared content to consolidate recent gains while awaiting fresh guidance from corporate America.

    Major Companies Prepare to Report

    Several blue-chip companies are set to launch the second-quarter earnings season, including Bank of America (NYSE:BAC), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Johnson & Johnson (NYSE:JNJ), UnitedHealth (NYSE:UNH) and Netflix (NASDAQ:NFLX).

    According to Daniela Hathorn of Capital.com, investors will focus not only on earnings but also on management commentary.

    “Investors will be looking for confirmation that AI-related investment continues to translate into robust earnings growth and resilient margins, particularly among the large technology companies that have driven much of this year’s rally,” she said.

    She added, “With valuations still elevated, earnings guidance could prove just as important as the headline results themselves.”

    Tech Shares Continue to Lead

    Thursday’s advance was driven primarily by technology companies, with the Nasdaq outperforming the broader market.

    Strong interest surrounding SK Hynix’s (USOTC:HXSCL) U.S. listing and Micron Technology’s (NASDAQ:MU) $3 billion semiconductor investment announcement helped reinforce optimism across the sector.

    Oil Retreat Offers Additional Support

    Energy prices moved lower despite ongoing geopolitical tensions in the Middle East, easing immediate concerns over inflation and supporting broader market sentiment.

    The decline in crude prices weighed on energy stocks, while technology, computer hardware, semiconductor and gold-related shares outperformed.

    Investors now turn their attention to next week’s earnings reports and inflation releases, both of which are expected to play a significant role in shaping expectations for Federal Reserve policy and the direction of equity markets.

  • European Stocks Hold Steady as Vodafone, EasyJet and Hays Rally Amid Geopolitical Caution: DAX, CAC, FTSE100

    European Stocks Hold Steady as Vodafone, EasyJet and Hays Rally Amid Geopolitical Caution: DAX, CAC, FTSE100

    European equities traded cautiously on Friday as investors weighed renewed military exchanges between the United States and Iran alongside lingering concerns over artificial intelligence valuations.

    The UK’s FTSE 100 gained 0.1%, while France’s CAC 40 and Germany’s DAX hovered close to flat as market sentiment remained subdued.

    Eurozone government bond yields were little changed after a sharp sell-off in the previous trading session.

    Among individual stocks, Careium AB jumped after the Swedish healthcare technology company reported a 24% year-on-year increase in second-quarter net sales.

    Vodafone (LSE:VOD) also advanced sharply after UAE telecommunications group E& confirmed plans to sell its entire holding in the British operator to Vega.

    Budget carrier EasyJet (LSE:EZJ) rallied after reaching an agreement in principle on the key financial terms of a £5.7 billion takeover proposal from U.S. private equity firm Apollo Global Management.

    Recruitment company Hays (LSE:HAS) was another strong performer after forecasting full-year operating profit at the upper end of analysts’ expectations.

  • UK Expands Financial Oversight to Microsoft, Google, Amazon and Oracle Cloud Services

    UK Expands Financial Oversight to Microsoft, Google, Amazon and Oracle Cloud Services

    The UK has introduced a new regulatory framework that brings Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOG), Amazon (NASDAQ:AMZN) and Oracle (NYSE:ORCL) under direct oversight as critical technology providers supporting the country’s financial sector.

    The initiative is designed to reduce systemic risks arising from cyber threats, technology failures and the increasing reliance of financial institutions on cloud infrastructure.

    Financial Regulators Target Operational Resilience

    Government officials said the designation reflects the growing importance of cloud computing in the delivery of financial services.

    “As banks, insurers and financial market infrastructures become increasingly reliant on cloud services, disruption at a major supplier could affect multiple firms at the same time, potentially impacting services customers depend on,” the government said in a statement on Friday.

    From July 13, Microsoft Ireland Operations Ltd, Google Cloud EMEA Ltd, Amazon Web Services EMEA SARL and Oracle Corporation UK Ltd will be formally recognised as critical third-party providers.

    Regular Testing and Incident Reporting Required

    The companies will be supervised by the Bank of England, the PRA and the FCA under a joint oversight framework.

    Requirements include resilience testing, periodic self-assessments and mandatory reporting of significant operational disruptions.

    Google Cloud welcomed the initiative, saying:

    “With effective implementation and meaningful industry engagement, this new Critical Third Party framework can enhance the long-term resilience of the UK’s financial ecosystem and increase understanding, transparency, and trust between all parties.”

    The UK’s approach follows similar regulatory efforts in the European Union, reflecting a broader global focus on protecting financial markets from technology-related risks.

  • Wall Street Futures Trade Cautiously as Earnings Season Nears: Dow Jones, S&P, Nasdaq

    Wall Street Futures Trade Cautiously as Earnings Season Nears: Dow Jones, S&P, Nasdaq

    U.S. equity futures were mixed on Friday as investors looked ahead to the start of second-quarter earnings season while continuing to assess geopolitical risks in the Middle East and strong momentum in Asian technology stocks.

    “Steady earnings fundamentals continue to anchor index volatility, Q2 results will be key to confirm this,” Barclays strategist Emmanuel Cau wrote in a note.

    “Q2 results will be crucial in reconnecting price action with fundamentals, determining whether markets can extend gains from here and affirming sector/factor leadership.”

    Gold remained under pressure heading into the weekend, while crude oil held onto most of its recent gains amid ongoing uncertainty surrounding the conflict between the United States and Iran. Japanese markets also attracted attention after the government proposed measures to increase domestic pension fund investment, and SK Hynix (USOTC:HXSCL) completed one of the largest ADR offerings ever seen in the United States.

    Pension Reform Boosts Japanese Markets

    Japanese government bonds and the yen strengthened after Finance Minister Satsuki Katayama said the government intends to encourage large pension funds, including the $2 trillion Government Pension Investment Fund (GPIF), to increase exposure to domestic assets.

    The initiative could redirect significant capital toward Japanese stocks and bonds while supporting the currency if overseas allocations are reduced. Investors are also awaiting the government’s “Honebuto” economic strategy, due on 21 July, which is expected to include investment plans for artificial intelligence, semiconductors and energy.

    SK Hynix Draws Strong Investor Demand

    SK Hynix (USOTC:HXSCL) priced its U.S. ADR offering at $149 per share, raising approximately $26.5 billion in one of the biggest semiconductor equity offerings on record.

    The offer was priced at about a 3% premium to the previous closing price in Seoul, while Reuters reported that investor demand exceeded the number of shares available by more than seven times.

    Asian Markets Outperform Europe

    Asian equity markets posted strong gains, led by semiconductor shares. South Korea’s Kospi rose roughly 5%, supported by Samsung Electronics, while Japan’s Nikkei 225 also advanced.

    European markets were more subdued. The STOXX 600 traded close to unchanged after Thursday’s AI-led rally as investors focused on renewed geopolitical risks and the potential impact on inflation and global trade.

    In the United States, S&P 500 futures slipped 0.2%, while Dow Jones futures added 0.1%.

    Oil Retains Weekly Gains

    Oil prices remained higher, with Brent and WTI both heading for strong weekly gains despite easing from the week’s highs as concerns over supply disruptions through the Strait of Hormuz moderated.

    Gold, silver and platinum all remained on course for weekly declines as investors reassessed the outlook for inflation and interest rates.

    Delta to Set the Tone for Earnings Season

    Attention now shifts to second-quarter corporate earnings.

    Delta Air Lines (NYSE:DAL) is scheduled to report results later today, with Wall Street expecting adjusted earnings per share of $1.51 on revenue of $17.53 billion, including passenger revenue of $15.63 billion and cargo revenue of approximately $231.6 million.

    The airline’s outlook will be closely watched for signs of consumer travel demand and the health of the broader economy.

  • European Stocks Steady as Middle East Tensions Offset AI Optimism: DAX, CAC, FTSE100

    European Stocks Steady as Middle East Tensions Offset AI Optimism: DAX, CAC, FTSE100

    European equity markets traded little changed on Friday as early optimism generated by a major U.S. technology listing faded, with investors instead focusing on escalating tensions between the United States and Iran that have reignited concerns over inflation and global trade.

    The pan-European STOXX 600 was broadly unchanged in early trading after posting a modest rebound in the previous session, supported by gains in artificial intelligence-related stocks.

    Germany’s DAX and France’s CAC 40 were also largely flat, while London’s FTSE 100 and Italy’s FTSE MIB each advanced around 0.3%.

    Despite Friday’s stability, the STOXX 600 remained on course for a weekly decline of almost 2%, marking its weakest weekly performance since mid-April as investors reassessed the economic risks posed by the growing conflict in the Middle East.

    Geopolitical Risks Return to the Forefront

    Market sentiment weakened after reports that U.S. forces carried out airstrikes on 90 Iranian targets on Wednesday in an effort to reduce threats to international shipping.

    Iran responded with strikes targeting U.S. assets in Kuwait, Bahrain and Qatar, significantly increasing concerns over maritime traffic through the Strait of Hormuz, one of the world’s most important energy transport routes.

    The collapse of the fragile ceasefire agreed on 17 June pushed Brent crude back towards $77 per barrel, reversing the recent decline in oil prices and prompting investors to reassess expectations for inflation and central bank interest rate policy.

    Technology Rally Loses Momentum

    The geopolitical backdrop overshadowed what had initially been a positive session for technology stocks following the successful U.S. Nasdaq listing of South Korean semiconductor manufacturer SK Hynix (USOTC:HXSCL), which raised $26.5 billion in one of the largest share offerings on record.

    Although the heavily oversubscribed flotation initially lifted semiconductor and AI-related shares that had recently come under pressure, the rally gradually lost momentum as investors returned their focus to macroeconomic risks and elevated valuations.

    European semiconductor stocks moved lower, with Siltronic (TG:WAF) falling 2%, Soitec (EU:SOI) declining 2.8% and ASML (EU:ASML) easing 2%.

    Corporate Movers

    EasyJet (LSE:EZJ) surged 13% after agreeing in principle to a takeover approach from Apollo.

    Vodafone (LSE:VOD) climbed 12% after French telecom entrepreneur Xavier Niel acquired e&’s stake in the company.

    St. James’s Place (LSE:STJ) fell around 5% after reports that one of its partner advisory firms plans to leave the wealth manager.

  • Market Open: EasyJet Takeover Proposal, Hays Trading Update

    Market Open: EasyJet Takeover Proposal, Hays Trading Update

    FTSE 100 opens slightly down as EasyJet takeover developments and Hays’ trading update lead headlines, while Brent crude and gold edge lower.

    Market Overview

    The FTSE 100 opened marginally lower at 10,471.94, while the Euronext 100 gained 0.04 per cent and Germany’s DAX rose 0.06 per cent. Overnight, the Nasdaq closed higher at 26,206.89 and the S&P 500 finished at 7,543.64, both ending the previous session in positive territory. Market sentiment was supported as Middle East tensions eased, although investors continued to monitor inflation risks and energy markets following recent geopolitical developments.

    In commodities, copper edged higher while gold, Brent crude and natural gas all traded lower. Bitcoin rose against sterling. Currency moves were modest, with the US dollar and euro strengthening slightly against sterling, while the Swiss franc and Japanese yen were little changed and the Australian dollar weakened.


    Market Numbers

    FTSE 100: Down (-0.001%), 10,471.94
    Euronext 100: Up (+0.04%), 1,913.47
    DAX: Up (+0.06%), 25,133.38
    NASDAQ: Up, 26,206.89
    S&P 500: Up, 7,543.64


    In the Headlines

    Takeover interest – easyJet (LSE:EZJ)
    easyJet is reported to favour Apollo’s improved takeover proposal over a rival approach from Castlelake. The development could influence the next stage of the bidding process and remains a key focus for investors.

    Trading update – Hays (LSE:HAS)
    Recruitment group Hays has released its fourth-quarter trading update ahead of an investor briefing. The update provides investors with the latest view on trading conditions and recruitment demand before further guidance.


    Currencies (vs GBP)

    USD: Up (+0.06%), $1.3414
    CHF: Unchanged (+0.00%), Fr.1.0819
    EUR: Up (+0.01%), €1.1732
    JPY: Up (+0.02%), ¥217.786
    AUD: Down (-0.01%), $1.9319
    Bitcoin (BTC/GBP): Up, £47,627.47


    Commodities

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

  • FTSE 100 Rises as Diplomatic Hopes Lift Sentiment and Apollo Leads Race for easyJet (EZJ)

    FTSE 100 Rises as Diplomatic Hopes Lift Sentiment and Apollo Leads Race for easyJet (EZJ)

    UK equities traded higher on Friday as renewed diplomatic efforts between the United States and Iran helped calm concerns over tensions in the Middle East. Investors also continued to monitor the takeover battle for easyJet (LSE:EZJ), after Apollo Global (NYSE:APO) emerged with a higher £5.7 billion proposal.

    The FTSE 100 gained 0.23% by 03:25 ET (07:25 GMT). Elsewhere in Europe, Germany’s DAX advanced 0.24%, while France’s CAC 40 rose 0.21%. Sterling strengthened 0.14% against the U.S. dollar to trade at $1.3426.

    U.S. President Donald Trump said Washington would respond to Iranian-linked attacks on commercial shipping in the Strait of Hormuz while reiterating that Iran “can never possess a nuclear weapon.”

    Although the latest U.S. military action drew domestic criticism and heightened regional tensions, officials stressed that diplomatic engagement with Tehran remained a priority.

    Regional mediators, including Qatar, Saudi Arabia, Pakistan, Turkey and Egypt, subsequently intensified efforts to revive U.S.-Iran nuclear negotiations. At the same time, the United States and Israel reaffirmed their close security partnership.

    Iran denied allegations relating to activity in the Strait of Hormuz and maintained that its nuclear programme is intended solely for peaceful purposes, highlighting the continuing divide between military developments and diplomatic negotiations.

    The country also concluded several days of state funeral ceremonies for former Supreme Leader Ayatollah Ali Khamenei, whose burial at the Imam Reza shrine in Mashhad brought the official mourning period to a close amid ongoing regional uncertainty.

    In UK politics, Andy Burnham secured 322 nominations from Labour MPs on Thursday, leaving him just one nomination short of the 323 required to prevent a challenger from entering the leadership contest.

    The former Greater Manchester mayor is widely expected to be confirmed as Labour leader next week before taking office as prime minister on 20 July.

    Commodity markets moved lower, with Brent crude falling 0.84% to $75.66 per barrel and WTI crude down 0.78% at $71.52. Gold futures declined 0.44% to $4,122.40 an ounce, while spot gold slipped 0.25% to $4,113.65.

    UK Market Round-up

    Apollo Global overtook Castlelake in the contest for easyJet (LSE:EZJ), agreeing in principle to a £5.7 billion takeover proposal that values the airline at £7.15 per share.

    MJ Gleeson (LSE:GLE) said full-year profit is expected to meet market expectations but cautioned that geopolitical uncertainty and potential changes to UK government policy could affect its outlook for fiscal 2026.

    Vodafone (LSE:VOD) remained in focus after UAE telecoms group e& agreed to sell its 16.3% holding in the company to Vega, the investment vehicle backed by Xavier Niel, in a transaction worth $5.95 billion at a 13% premium.

    Hays (LSE:HAS) said it expects fiscal 2026 operating profit to come in at the upper end of market forecasts, as cost-saving initiatives continue to offset subdued recruitment activity.

  • Hays Releases Fourth-Quarter Trading Update Ahead of Investor Briefing (HAS)

    Hays Releases Fourth-Quarter Trading Update Ahead of Investor Briefing (HAS)

    Hays plc (LSE:HAS) has published its trading update for the fourth quarter ended 30 June 2026, offering investors an overview of recent business performance and prevailing market conditions. The announcement has been made available through the London Stock Exchange’s document service, the Financial Conduct Authority’s National Storage Mechanism and the company’s investor relations website.

    Investor Conference Call Set for 10 July

    The recruitment group will host a conference call for analysts and investors on 10 July 2026. The session will be led by Chief Financial Officer James Hilton and Head of Investor Relations and M&A Kean Marden, who will discuss the latest trading performance, provide management commentary and answer questions from participants.

    The event is intended to give investors additional insight into Hays’ current operating environment, business performance and strategic priorities.

    Outlook Reflects Mixed Financial Picture

    Hays’ investment outlook continues to be constrained by weak technical indicators, with the shares trading below all major moving averages and a negative MACD reading signalling subdued momentum. The stock also trades on a notably elevated price-to-earnings ratio of 748.65, suggesting a demanding valuation.

    Financial performance presents a mixed picture. While revenue has declined and the company remains loss-making, improvements in free cash flow provide some support for the broader investment case.

    More about Hays plc

    Hays plc is a global specialist recruitment and workforce solutions provider operating across professional and skilled employment markets. The company recruits candidates for permanent, temporary and contract positions, serving both private and public sector organisations in a wide range of industries.

    Alongside its recruitment services, Hays provides workforce advisory, talent management and staffing solutions, helping employers source skilled professionals across multiple international markets.

  • EasyJet Favors Apollo’s Improved Takeover Proposal Over Castlelake Offer (EZJ)

    EasyJet Favors Apollo’s Improved Takeover Proposal Over Castlelake Offer (EZJ)

    EasyJet (LSE:EZJ) has reached agreement in principle on the key financial terms of a potential all-cash acquisition by funds managed by Apollo, with the proposed offer of £7.15 per share valuing the airline at approximately £5.7 billion. The bid represents a significant premium to recent market prices and may also include a stub equity option, enabling certain shareholders to retain an investment alongside Apollo.

    Apollo said the transaction would be fully financed through committed equity and debt facilities. The private equity firm believes taking easyJet private would support the airline’s long-term growth plans, safeguard its brand identity and create additional opportunities for employees.

    Board Signals Support for Apollo Bid

    EasyJet’s board has unanimously indicated that it would be prepared to recommend Apollo’s proposal, subject to the completion of due diligence, agreement on final terms and execution of definitive documentation. The board now views Apollo’s approach as more attractive than Castlelake’s earlier £6.90 per share proposal.

    No firm offer has yet been made under UK takeover regulations, and shareholders have been advised not to take any action at this stage. Nevertheless, the board’s backing suggests Apollo has emerged as the preferred bidder, potentially paving the way for a change in ownership while highlighting the growing role of private equity in the European airline sector.

    Outlook Supported by Stronger Financial Performance

    EasyJet’s investment outlook is underpinned by improving profitability, a healthy balance sheet and an attractive valuation, supported by a relatively low price-to-earnings ratio and dividend yield.

    Technical indicators remain favourable, although they suggest the shares may be approaching overbought territory. Management has also maintained a positive tone regarding liquidity and medium-term growth prospects, while acknowledging that higher costs and demand uncertainty could continue to weigh on near-term performance.

    More about EasyJet

    EasyJet is a UK-based low-cost airline serving destinations across Europe through a network focused primarily on short-haul passenger services. The carrier also offers a range of complementary travel products and services to leisure and business travellers.

    Operating in the highly competitive European budget airline market, easyJet seeks to drive growth through scale, operational efficiency and brand recognition while maintaining a strong focus on cost discipline and customer value.