ADVFN UK Market News

Category: Top Story

  • Topps Tiles maintains resilient sales as cost savings and digital growth support performance (TPT)

    Topps Tiles maintains resilient sales as cost savings and digital growth support performance (TPT)

    Market weakness weighs on third-quarter revenue

    Topps Tiles (LSE:TPT) reported third-quarter group revenue of £75.6 million, down 1.8% from the previous year as subdued consumer demand, CTD store closures and the closure of underperforming Topps Tiles locations affected sales.

    Excluding the impact of CTD, core revenue edged 0.6% higher, while like-for-like sales at the Topps Tiles brand remained unchanged. Although the company continued to outperform the declining UK home improvement market, trading was weaker than anticipated as customers shifted towards lower-priced products and periods of hot weather disrupted activity across construction sites.

    Cost-saving measures and online growth support margins

    The group said it continued to make progress on initiatives designed to improve efficiency and protect profitability, including optimising its store estate, introducing a more flexible labour model and consolidating head office operations.

    Digital sales continued to expand, with online revenue accounting for 23.3% of total sales during the quarter. The launch of a new trade-focused mobile app also supported professional customers, while newer hard surface categories such as acoustic panels and outdoor tiles delivered double-digit growth. Despite these positive developments, the company expects adjusted pre-tax profit for the year to be slightly above £6.5 million as broader economic challenges continue to affect demand.

    Cash generation offsets balance sheet concerns

    Topps Tiles’ investment outlook is supported by improving financial performance, strong cash generation and ongoing cost-saving initiatives, alongside a generally constructive earnings outlook.

    However, these strengths are balanced by relatively high balance sheet leverage and weaker technical indicators, including a negative MACD signal and a share price trading below key moving averages. The valuation also appears relatively demanding, although the company’s dividend yield continues to provide support for income-focused investors.

    More about Topps Tiles

    Topps Tiles is the UK’s largest specialist retailer of tiles and hard surface flooring products, supplying ceramic and porcelain tiles, flooring accessories and related materials to both retail and trade customers. The group operates its core Topps Tiles business alongside the recently acquired CTD brand and continues to expand its digital capabilities while serving the home improvement and commercial construction markets.

  • Greggs appoints new finance chief as CFO Richard Hutton prepares for retirement (GRG)

    Greggs appoints new finance chief as CFO Richard Hutton prepares for retirement (GRG)

    Planned leadership transition to take effect in 2027

    Greggs (LSE:GRG) has announced that Chief Financial Officer Richard Hutton will retire at the end of 2026 after 28 years with the business, including 20 years as a board director.

    Hutton will remain in his current role until the end of the year to ensure an orderly handover, reflecting the company’s focus on maintaining continuity throughout the leadership transition.

    Ben Waldron named CFO-designate

    The board has appointed former Bakkavor executive Ben Waldron as CFO-designate and executive director. He is scheduled to join Greggs in late October 2026 before officially assuming the role of Chief Financial Officer on 1 January 2027.

    With extensive financial and operational experience across international food businesses, Waldron is expected to support Greggs’ long-term growth strategy while providing continuity in the group’s financial leadership.

    Solid fundamentals tempered by near-term pressures

    Greggs’ investment outlook continues to be supported by a resilient operating business, although earnings quality softened during 2025 as margins, earnings per share and free cash flow weakened while leverage increased.

    The company’s valuation remains relatively attractive, with a price-to-earnings ratio of around 14 and a dividend yield of approximately 3.34%. Technical indicators are generally constructive, although momentum signals are mixed. Management has maintained a balanced outlook, highlighting positive sales trends and a manageable inflation and capital expenditure environment, while acknowledging flat profit expectations and continued investment in the supply chain.

    More about Greggs plc

    Greggs plc is a UK-based food-on-the-go retailer operating a nationwide network of bakeries and takeaway outlets. The company offers a wide range of freshly prepared food and drink, including pastries, sandwiches, savouries and hot beverages, serving value-focused consumers across high streets, retail parks, transport hubs and convenience locations. Greggs continues to expand its national footprint while investing in operational capacity to support future growth.

  • NatWest completes £2.7bn Evelyn Partners acquisition to expand wealth management business (NWG)

    NatWest completes £2.7bn Evelyn Partners acquisition to expand wealth management business (NWG)

    Deal creates one of the U.K.’s largest private banking and wealth platforms

    NatWest Group (LSE:NWG) has finalised its £2.7 billion acquisition of wealth manager Evelyn Partners, strengthening its position in the U.K. wealth sector and creating what the bank says is the country’s leading private banking and wealth management franchise.

    The transaction brings together Evelyn Partners’ £69 billion in assets under management and administration with NatWest’s existing £59 billion, increasing combined AUMA to £127 billion. Total customer assets and liabilities now stand at approximately £188 billion, representing around one-fifth of the group’s overall balance sheet.

    Wealth strategy shifts further toward fee-based income

    NatWest said the acquisition materially expands its financial planning and investment management offering while supporting its strategy to increase recurring fee-based revenues. Before any revenue synergies are realised, fee income is expected to increase by around 20%.

    The group is targeting approximately £100 million in annual cost synergies and expects the acquisition to contribute positively to growth and return on tangible equity from the first year. While the transaction is forecast to reduce the bank’s CET1 capital ratio by around 130 basis points, NatWest believes the investment positions the business to capture opportunities in the faster-growing U.K. wealth management market. The bank also said existing customers should experience a smooth transition throughout the integration process.

    Financial strengths balanced by cash flow concerns

    NatWest’s overall outlook reflects a combination of positive and negative factors. Strong profitability and improving leverage continue to support the investment case, although inconsistent operating and free cash flow, including recent weakness, remain areas of concern.

    Technical indicators also suggest subdued market momentum, with the shares trading below key moving averages. However, these factors are partly offset by an attractive valuation, supported by a relatively low price-to-earnings ratio, a strong dividend yield, and a positive recent earnings update that included higher income guidance and solid capital generation.

    More about NatWest Group

    NatWest Group is one of the U.K.’s largest banking groups, providing retail, commercial and private banking services. Alongside its core banking operations, the company continues to expand its wealth management and financial planning capabilities, offering investment, lending, savings and advisory services to individuals and businesses across the United Kingdom.

  • ADVFN Appoints Jason Paltrowitz as Non-Executive Director

    ADVFN Appoints Jason Paltrowitz as Non-Executive Director

    Former OTC Executive Brings Capital Markets Expertise to Support Global Growth


    LONDON – July 1, 2026 — ADVFN Ltd is pleased to announce the appointment of Jason Paltrowitz as a Non-Executive Director. Jason brings more than 20 years of leadership experience across global capital markets, investor relations, exchange services, and corporate advisory. He served as Executive Vice President at OTC Markets Group, where he played a key role in expanding one of the world’s leading marketplaces for companies accessing U.S. investors. Earlier in his career, he held senior roles at JPMorgan Chase and BNY Mellon. Most recently, Jason founded Crossbridge Advisors, an independent strategic capital markets advisory firm.

    Jason’s appointment supports ADVFN’s strategy to expand its global investor network, deepen relationships with listed companies and accelerate growth across its The Market Link platform. His relationships across exchanges, public companies, brokers, investment banks, investor relations firms and institutional investors are expected to support new commercial partnerships.

    ADVFN CEO Amit Tauman said, “Jason brings a rare combination of capital markets expertise, strategic insight and deep industry relationships. His experience and industry knowledge will be instrumental as we execute the next phase of our strategy. We are delighted to welcome him to the Board.”

    Jason Paltrowitz said, “I am delighted to be joining the Board of ADVFN at such an exciting time in the Company’s evolution. ADVFN has built a highly respected global brand and cultivated an exceptionally loyal user base over many years. I believe there is a significant opportunity to build on that foundation by strengthening the Company’s strategic positioning, broadening its reach, and creating additional value for shareholders. I look forward to working alongside the Board and management team to help shape the next phase of the Company’s growth.”

    About ADVFN:

    ADVFN is a leading global social financial platform providing real-time market data, news, analysis, discussion forums, portfolio management tools, and investment research across international markets. Through its expanding “The Market Link” network which includes InvestorsHub, Stockhouse, HotCopper and ADVFN, ADVFN connects millions of investors worldwide with trusted financial information, listed companies, and investment opportunities.

    For more information, contact [email protected]

  • Wall Street Futures Slip as Investors Pause Following Record Market Rally: Dow Jones, S&P, Nasdaq

    Wall Street Futures Slip as Investors Pause Following Record Market Rally: Dow Jones, S&P, Nasdaq

    Traders lock in gains after Monday’s strong advance

    U.S. stock futures pointed to a modestly lower open on Tuesday as investors appeared ready to take profits after the previous session’s broad rally.

    The cautious tone follows Monday’s powerful advance, which carried the Dow Jones Industrial Average to another record closing high and encouraged some traders to reduce exposure after recent gains.

    Higher oil prices also weighed on sentiment, with U.S. crude futures rising 0.6% after jumping 2.2% during Monday’s session.

    The latest gains in crude have been driven by uncertainty over possible diplomatic talks between the United States and Iran. President Donald Trump said negotiations were scheduled to take place in Qatar on Tuesday, while a spokesperson for Iran’s Foreign Ministry reportedly denied that any meeting had been arranged.

    Investors await key U.S. economic reports

    Despite the weaker outlook for the market open, investors are expected to remain cautious ahead of several important U.S. economic releases due later this week, including the closely watched monthly employment report.

    Those figures are likely to shape expectations for the U.S. economy and the Federal Reserve’s next policy decisions.

    Technology stocks led Monday’s market rebound

    Wall Street ended Monday’s session firmly higher after overcoming early volatility, with all three major U.S. indices posting strong gains.

    The Nasdaq climbed 522.53 points, or 2.1%, to finish at 25,820.14, while the S&P 500 gained 86.41 points, or 1.2%, to close at 7,440.43. The Dow added 306.63 points, or 0.6%, ending the day at a record 52,182.74 after giving back part of its intraday advance.

    Technology companies were the primary driver of the rally, helping the Nasdaq recover following last week’s 4.6% decline.

    Alphabet (NASDAQ:GOOGL) rose 4.8% after the Google parent company joined the Dow Jones Industrial Average.

    Semiconductor stocks outperform broader market

    Chipmakers were among the session’s strongest performers, lifting the Philadelphia Semiconductor Index by 3.8%.

    Networking and computer hardware shares also posted solid gains, with the NYSE Arca Networking Index advancing 3.7% and the NYSE Arca Computer Hardware Index adding 2.4%.

    Elsewhere, brokerage stocks weakened, dragging the NYSE Arca Broker/Dealer Index down 2.2%. Steelmakers, airlines and gold miners also declined, partially offsetting the technology-led rally.

    Markets also remained focused on geopolitical developments after reports suggested the United States and Iran had agreed to temporarily suspend hostilities following weekend military exchanges.

    President Donald Trump later stated on Truth Social that Iran had requested a meeting in Doha, Qatar.

  • European Stocks Advance as Technology Shares Lead Market Higher: DAX, CAC, FTSE100

    European Stocks Advance as Technology Shares Lead Market Higher: DAX, CAC, FTSE100

    AI optimism lifts European equity markets

    European markets traded higher on Tuesday, supported by a strong recovery in technology stocks as investor confidence in artificial intelligence-related companies improved.

    With oil prices retreating to levels seen before the recent Middle East conflict, investors continue to expect that the European Central Bank (ECB) will be able to keep interest rates unchanged in the near term.

    Speaking in Sintra, Portugal, ECB Chief Economist Philip Lane said the secondary effects of higher energy prices are likely to take time to emerge and indicated policymakers are not prepared to commit to a specific interest-rate path.

    Falling oil prices support market sentiment

    Crude oil prices extended their decline and remained on course for a second consecutive monthly loss, despite conflicting comments over whether the United States and Iran would hold talks in Qatar on Tuesday.

    Among the major European indices, Germany’s DAX rose 1.3%, the UK’s FTSE 100 gained 0.8%, and France’s CAC 40 advanced 0.2%.

    Sterling gave back earlier gains against the U.S. dollar after revised figures from the Office for National Statistics confirmed the UK economy expanded as initially estimated during the first quarter, driven largely by the services sector.

    The economy grew 0.6% quarter-on-quarter in the first three months of the year, following revised growth of 0.1% in the fourth quarter.

    Technology sector outperforms

    Technology shares were among the strongest performers, with Infineon (TG:IFX), STMicroelectronics (BIT:STMMI) and ASML Holding (EU:ASML) posting solid gains.

    Elsewhere, French pharmaceutical company Sanofi (EU:SAN) traded little changed after reporting that Nexviazyme achieved all primary and secondary endpoints in a Phase III trial involving the infantile form of Pompe disease.

    British travel and insurance group Saga (LSE:SAGA) declined after stating that trading remained “in line with expectations” during the first four months of the year.

    Meanwhile, supermarket operator J Sainsbury (LSE:SBRY) advanced after reaffirming its full-year profit guidance.

    International Workplace Group (LSE:IWG) also moved sharply higher after announcing a $50 million increase to its 2026 share buyback programme.

  • Wall Street futures climb ahead of quarter-end as investors watch Iran talks and key data: Dow Jones, S&P, Nasdaq

    Wall Street futures climb ahead of quarter-end as investors watch Iran talks and key data: Dow Jones, S&P, Nasdaq

    U.S. equity futures traded modestly higher on Tuesday as markets headed into the final trading session of both the second quarter and the first half of the year. Investors are monitoring reports of potential negotiations between the United States and Iran, while a busy economic calendar and Nike’s quarterly earnings are also in focus.

    Markets prepare for quarter-end trading

    At 03:10 ET (07:10 GMT), futures on the Dow Jones Industrial Average were up 39 points, or 0.1%. S&P 500 futures gained 7 points, or 0.1%, while Nasdaq 100 futures advanced 67 points, or 0.2%.

    Wall Street closed higher on Monday, led by a recovery in technology shares after concerns over artificial intelligence infrastructure spending weighed on the sector last week. Semiconductor stocks rebounded around 3.8%, recovering from their weakest weekly performance since April last year.

    The rally allowed the S&P 500 to end a five-session losing streak and left the index on course for its strongest quarterly gain since the post-pandemic recovery.

    Investor confidence also improved after the U.S. Supreme Court ruled that Federal Reserve Governor Lisa Cook could remain in office while legal proceedings continue regarding efforts by the Trump administration to remove her. The decision helped reduce concerns over the Fed’s political independence.

    Possible U.S.-Iran meeting remains in focus

    Attention has shifted to Qatar after President Donald Trump said U.S. representatives would meet Iranian officials there.

    CNN reported that special envoy Steve Witkoff is travelling to Qatar, although Iranian authorities insist that no formal negotiations have been scheduled in the coming days.

    According to Axios, Witkoff and Jared Kushner will meet Qatari officials, while technical delegations from both the United States and Iran are expected to hold separate discussions with mediators from Qatar and Pakistan. An Iranian expert delegation is also expected to arrive in Doha later this week.

    The diplomatic activity follows reports that Washington and Tehran have agreed to halt attacks in the Strait of Hormuz. Brent crude was trading around US$73.38 a barrel after falling back to levels seen before the recent conflict.

    Economic releases take centre stage

    Investors are also awaiting a series of important U.S. economic reports.

    Tuesday’s focus will be the May JOLTS job openings report, with economists forecasting vacancies to decline to 7.28 million from 7.618 million in April.

    The Conference Board’s consumer confidence survey will also be released later in the session.

    These reports are expected to provide additional insight ahead of Friday’s closely watched non-farm payrolls report, which could influence the Federal Reserve’s interest rate outlook.

    Nike results expected after the close

    Nike (NYSE:NKE) is due to report quarterly earnings after the closing bell, with investors looking for further signs that Chief Executive Elliott Hill’s turnaround strategy is gaining momentum.

    In March, Nike warned that quarterly sales would decline by between 2% and 4%, reflecting weaker demand across China, Europe, the Middle East and Africa.

    Earlier this month, the company appointed David Denton as Chief Financial Officer. Hill described him as a “proven public-company CFO who knows how to help great consumer brands operate with discipline and invest to win.”

    Chinese factory activity improves

    Official figures released on Tuesday showed that China’s manufacturing sector expanded slightly faster than expected in June.

    The official manufacturing PMI rose to 50.3 from 50.0 in May, exceeding forecasts of 50.2.

    Export demand remained the main driver of growth, although analysts believe the recent boost could fade as geopolitical tensions ease and oil markets stabilise.

  • Market Open: Sainsbury’s Sales Growth, Saga Trading Momentum

    Market Open: Sainsbury’s Sales Growth, Saga Trading Momentum

    FTSE 100 and European markets opened higher as Sainsbury’s and Saga updated investors while Brent crude eased and Bitcoin strengthened.

    Market Overview

    UK and European markets opened higher at the start of the new trading week. The FTSE 100 edged up to 10,484.31, the Euronext 100 gained 0.03 per cent to 1,901.55, and Germany’s DAX advanced 0.73 per cent to 24,815.22. Overnight, the Nasdaq closed higher at 25,820.15 and the S&P 500 finished at 7,440.43, as investors balanced stronger UK GDP data against ongoing uncertainty surrounding US-Iran negotiations, while attention also turned to central bank speeches and economic data due later this week.

    Commodity markets reflected easing geopolitical concerns. Brent crude slipped as renewed US-Iran talks reduced worries over supply disruption through the Strait of Hormuz, while copper and gold also traded lower. Natural gas edged lower, Bitcoin fell against sterling, and sterling was broadly firmer against the euro, Swiss franc, US dollar and Australian dollar, while weakening against the Japanese yen.

    Market Numbers

    FTSE 100: Up (+0.001%), 10,484.31

    Euronext 100: Up (+0.03%), 1,901.55

    DAX: Up (+0.73%), 24,815.22

    NASDAQ: Up, 25,820.15

    S&P 500: Up, 7,440.43

    In the Headlines

    Trading update – Sainsbury’s (LSE:SBRY)

    Sainsbury’s reported continued growth in grocery sales and market share while maintaining its full-year profit guidance. The update suggests resilient consumer demand and supports confidence in the supermarket group’s outlook despite a competitive retail environment.

    Positive momentum – Saga (LSE:SAGA)

    Saga said trading remains in line with expectations as growth in its travel business and progress with its long-term Ageas insurance partnership helped reduce debt and strengthen the balance sheet. The update reinforces management’s confidence in meeting full-year guidance.

    Currencies (vs GBP)

    USD: Down (-0.02%), $1.3253

    CHF: Down (-0.01%), Fr.1.0706

    EUR: Down (-0.06%), €1.1606

    JPY: Up (+0.06%), ¥214.599

    AUD: Down (-0.03%), $1.9259

    Bitcoin (BTC/GBP): Down, £44,891.13

    Commodities

    Copper: Down

    Gold: Down

    Brent Crude: Down

    Natural Gas: Down

  • STOXX 600 heads for strongest quarterly performance since 2020 as AI stocks lead gains

    STOXX 600 heads for strongest quarterly performance since 2020 as AI stocks lead gains

    European equities traded higher on Tuesday, putting the STOXX 600 on course for its best quarterly performance in more than five years as investor enthusiasm for artificial intelligence and easing geopolitical tensions in the Middle East continued to support market sentiment.

    The pan-European STOXX 600 rose 0.6% to 639.77 points by 08:04 GMT. The benchmark index is set to record its third consecutive monthly advance and has gained 9.7% during the quarter, marking its strongest quarterly return since October 2020.

    Technology sector drives rally

    Technology shares climbed 1.7% and were on track to deliver their strongest quarterly performance since October 2001, reflecting sustained demand for artificial intelligence infrastructure. The sector is also on course to outperform its US technology peers over both the month and the quarter.

    Among the leading gainers, semiconductor equipment manufacturer ASML (EU:ASML) advanced 3.33%, while chipmakers STMicroelectronics (BIT:STMMI) and Infineon (TG:IFX) rose 3.0% and 2.7%, respectively.

    Siemens Energy extends gains

    Shares in Siemens Energy (TG:SIE) gained 5% after the company reaffirmed robust demand for AI-related equipment during its pre-close quarterly trading update on Monday.

    Investor sentiment has also been supported by signs of easing tensions in the Middle East, with oil prices retreating to levels seen before the conflict involving Iran, helping reduce energy cost concerns across Europe.

    Healthcare sector boosted by Abivax

    In the healthcare sector, Abivax (EU:ABVX) surged more than 20% after announcing positive topline results from its obefazimod clinical study.

    The broader European healthcare sector rose 0.9% during the session.

  • European stocks advance at quarter-end as investors await economic data and central bank updates: DAX, CAC, FTSE100

    European stocks advance at quarter-end as investors await economic data and central bank updates: DAX, CAC, FTSE100

    European equity markets traded higher on Tuesday and remained on course to post strong gains for the quarter, with investors focusing on a busy calendar of economic releases and speeches from senior central bank officials scheduled later in the day.

    The pan-European STOXX 600 gained 0.4% in early trading, putting the benchmark on track for a quarterly rise of 9.7%.

    Germany’s DAX climbed 0.8%, while London’s FTSE 100 added 0.2% and France’s CAC 40 rose 0.3%. Italy’s FTSE MIB advanced 0.4%.

    Italian equities outperform regional peers

    Italian shares were set to deliver the strongest quarterly performance among Europe’s major markets, supported by significant gains in banking stocks following a wave of merger and acquisition activity over the past three months.

    By comparison, the UK’s FTSE 100 continued to lag other European indices as investors remained cautious over Britain’s widening fiscal deficit and the government’s efforts to stimulate economic growth.

    European markets have also underperformed their counterparts in the United States and Asia during the quarter, largely reflecting the region’s smaller exposure to large-cap technology companies.

    Strong valuations across technology and artificial intelligence stocks helped lift both US and Asian equity markets to record highs earlier this year, despite heightened geopolitical tensions involving the United States and Iran.

    Markets await Sintra speeches and key economic data

    Attention is now turning to the European Central Bank’s annual forum in Sintra, Portugal, where policymakers are expected to provide further guidance on the outlook for interest rates.

    Investors will closely monitor remarks from ECB Chief Economist Philip Lane, together with Executive Board members Isabel Schnabel and Frank Elderson, for fresh signals on the future direction of eurozone monetary policy.

    The conference will conclude with a closely watched panel discussion featuring newly appointed Federal Reserve Chair Kevin Warsh, making his first major international appearance since taking office, alongside Bank of England Governor Andrew Bailey.

    Maersk gains after raising outlook

    Among individual stocks, shares in Maersk (TG:DP4A) rose around 3% after the shipping group upgraded its full-year earnings guidance.