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  • FTSE 100 rises at the open as markets react to Trump’s Iran withdrawal signal

    FTSE 100 rises at the open as markets react to Trump’s Iran withdrawal signal

    UK equities opened higher on Wednesday, following a broader rally across European markets after U.S. President Donald Trump indicated that American forces could potentially withdraw from Iran within the next two to three weeks.

    By 07:25 GMT, the FTSE 100 had climbed 1.7%, while the pound strengthened 0.4% against the dollar to 1.3280 in the GBP/USD pair. European markets also posted strong gains, with Germany’s DAX advancing 2.7% and France’s CAC 40 rising 2.2%.

    UK corporate updates

    Berkeley Group Holdings PLC (LSE:BKG) said it will pause new land purchases and extend its medium-term strategic plan through April 2030. The developer pointed to geopolitical instability, a weaker economic environment and regulatory delays that have added roughly a year to construction timelines. The FTSE-listed company now expects pre-tax profit exceeding £1.4 billion over the four years to April 2030, with the majority of earnings anticipated later in the period.

    Topps Tiles PLC (LSE:TPT) reported group revenue of £142.7 million for the 26 weeks ending March 28, representing a 0.1% decline year-on-year. Revenue excluding CTD increased 2.1%, although growth slowed to 0.6% in the second quarter after a stronger first quarter. The tile retailer still outperformed the broader UK Home Improvements and DIY market, which contracted by around 2.5% during the same period according to Barclays UK Consumer Spend Report data. Topps Tiles recorded 0.1% like-for-like revenue growth in the first half.

    Babcock International Group PLC (LSE:BAB) confirmed it has agreed a six-month bridging contract with the UK Ministry of Defence to continue delivering naval base operations and in-service support for the UK’s nuclear submarine fleet. The agreement follows the expiry of the previous five-year Future Maritime Support Programme contract on Tuesday.

    The interim deal ensures uninterrupted service provision while Babcock and the Ministry of Defence negotiate a new long-term arrangement. The MOD has also issued a Letter of Intent, reaffirming its commitment to a strategic partnership with Babcock and the Royal Navy.

  • Berkeley halts land purchases and extends strategy to 2030 amid market uncertainty

    Berkeley halts land purchases and extends strategy to 2030 amid market uncertainty

    Berkeley Group Holdings (LSE:BKG) announced on Wednesday that it will suspend new land purchases and extend the timeline of its medium-term strategy through April 2030, pointing to geopolitical tensions, a weakening economic backdrop and regulatory delays that have lengthened construction schedules by roughly a year.

    The FTSE-listed housebuilder said it is now targeting pre-tax profit of more than £1.4 billion over the four years to April 2030, with earnings expected to be more heavily weighted toward the latter part of the period. Previously, Berkeley had projected pre-tax profit of about £450 million for FY26 and a similar figure for FY27.

    The company said it will not acquire additional land while current market conditions persist. Berkeley highlighted rising taxes on residential development—costs not applied to other land uses—as a key factor keeping land prices elevated despite a drop in residential transactions. Instead, the group plans to focus entirely on its existing development pipeline of more than 10,000 homes across London and the South East.

    Berkeley also pointed to regulatory hurdles, noting that the Building Safety Regulator’s gateway process has extended the period between planning approval and the start of construction by approximately 12 months. The company added that new housing starts in London currently stand at less than 10% of the target set by the Ministry of Housing, Communities and Local Government.

    While Berkeley said it observed early signs of a modest recovery during the first two months of 2026, it warned that “recent geopolitical events and the macroeconomic consequences, including reduced potential for further rate cuts, could reduce confidence in a near-term market recovery,” a risk it said had “become a reality.”

    Financially, the group has reduced land creditors from £900 million to about £470 million and lowered operating costs by roughly 25% in real terms. It continues to aim for an operating margin within its historical range of 17% to 21% and a return on capital employed above 15% by FY30, with returns expected to fall between 11% and 15% during the intervening years. Berkeley also confirmed it will maintain a net cash position.

    The company has returned £336 million so far under its £2 billion shareholder return programme, including £260 million up to September 2025 and a further £76 million since then. Berkeley remains on track to complete the programme by September 2030 and said it prefers share buybacks while the share price trades below net asset value per share.

    Meanwhile, the group’s first six Berkeley Living build-to-rent projects, representing about £400 million in cost, are progressing well. Berkeley reiterated its commitment to delivering 4,000 build-to-rent homes, though it is reviewing the timing of later phases.

    “We believe that it is in the best interests of shareholders to adapt our approach in this way, rather than pursue short-term profit targets,” Berkeley said.

  • Arcline Investment Management withdraws plans to bid for Senior plc

    Arcline Investment Management withdraws plans to bid for Senior plc

    Arcline Investment Management LP said on Wednesday that it will not move forward with a potential takeover offer for Senior plc (LSE:SNR), issuing the announcement in accordance with Rule 2.8 of the UK City Code on Takeovers and Mergers.

    However, the firm noted that it may revisit its decision under certain circumstances. These include situations where Senior’s board agrees to engage with another suitor or if a rival bidder emerges.

    Arcline identified Advent International Limited and a consortium formed by Tinicum Incorporated and Blackstone Private Investments Advisors as possible third parties whose formal bid announcements could reopen the door for a renewed approach.

    The investment group also stated it could reconsider its position if Senior were to announce a waiver of Rule 9 or pursue a reverse takeover under the Takeover Code, or if the Takeover Panel rules that there has been a material change in circumstances.

  • OptiBiotix reports strong growth while sharpening focus on profitability

    OptiBiotix reports strong growth while sharpening focus on profitability

    OptiBiotix Health (LSE:OPTI) delivered solid performance in 2025, with revenue increasing 30% to £1.13 million. Gross profit rose 82% to £603,000, lifting margins to 53%, while operating costs remained broadly stable. The company ended the year with £1.03 million in cash and held investments in ProBiotix Health and SkinBioTherapeutics valued at £6.45 million. Product activity also gained momentum, highlighted by the launch of SlimBiome within the Hydroxycut brand and expanding customer engagement across Asian markets.

    After the reporting period, OptiBiotix secured a 24-metric-tonne SlimBiome order from Taiwan-based Meelung Trading and recorded more than £800,000 in orders during January 2026, representing the strongest start to a year for the business. Management is now implementing a strategy focused on improving commercial sustainability, which includes reducing marketing and research-related spending, improving manufacturing economics for SlimBiome and introducing stricter profit-and-loss accountability across regional and distribution channels. The company aims to reach profitability across all business segments by the end of 2026.

    Despite strong revenue momentum in 2024 and improving margins, the company’s outlook remains constrained by ongoing losses and continued cash burn. Technical indicators also show a prolonged downward trend with negative price momentum. However, OptiBiotix benefits from a debt-free balance sheet, which offers some financial stability, although valuation metrics remain difficult to support given negative earnings and the absence of a dividend yield.

    More about OptiBiotix Health

    OptiBiotix Health is a UK-listed life sciences company specialising in microbiome-based technologies designed to help prevent and manage human disease. The group develops and commercialises functional ingredients including SlimBiome, WellBiome, SweetBiotix and Microbiome Modulators. It also has exposure to probiotics and skincare through shareholdings in ProBiotix Health and SkinBioTherapeutics, targeting global markets in weight management, gut health and metabolic wellness.

    The company supplies ingredients and finished products through international manufacturing, distribution and e-commerce channels, serving consumer health markets where demand for scientifically supported microbiome solutions and healthier sugar alternatives continues to grow.

  • Filtronic secures new defence contract, strengthening role in wideband RF technology

    Filtronic secures new defence contract, strengthening role in wideband RF technology

    Filtronic plc (LSE:FTC), a specialist in advanced RF and microelectronics used in mission-critical communication networks, continues to expand its presence in high-growth sectors including low-Earth-orbit space, aerospace and defence. Headquartered in Sedgefield in the UK and listed on AIM, the company draws on more than 45 years of engineering expertise, a broad patent portfolio and modern manufacturing facilities to deliver customised solutions designed for high-capacity data transmission.

    The group has now secured a £0.4 million contract from a major European defence prime contractor. The agreement extends Filtronic’s collaboration with the customer into an additional business unit and represents the first stage of a new wide-bandwidth technology programme expected to be delivered in FY2027. Production will take place at the company’s recently established secure automated microelectronics facility in Sedgefield. The contract highlights rising demand from defence customers for sophisticated wideband RF modules and further reinforces Filtronic’s position as a trusted supplier capable of scaling manufacturing for larger future programmes.

    Filtronic’s outlook is supported by strong financial performance, including rapid revenue growth, robust margins, low leverage and solid cash generation. Technical indicators remain positive but suggest the shares may be approaching overbought territory, creating potential near-term volatility. Valuation is a modest constraint due to a relatively high P/E ratio and the absence of a dividend yield.

    More about Filtronic

    Filtronic plc is a UK-based designer and manufacturer of advanced RF and microelectronic systems serving space, aerospace, defence, telecommunications infrastructure and critical communications markets. Operating two manufacturing facilities and three engineering centres of excellence, the AIM-listed company focuses on wideband communication technologies that enable higher bandwidth, reduced latency and improved connectivity for high-growth sectors such as LEO space and defence.

  • Blue Star’s SatoshiPay records milestone Vortex volumes and advances DeFi FX technology

    Blue Star’s SatoshiPay records milestone Vortex volumes and advances DeFi FX technology

    Blue Star Capital (LSE:BLU) said its portfolio company SatoshiPay achieved a record US$10 million in monthly transaction volume in January 2026 on its Vortex fiat-to-crypto payments platform. The figure exceeded the platform’s entire cumulative volume recorded up to the end of 2025. Activity moderated in February and March, reflecting platform upgrades, compliance checks and a change in banking arrangements by a major client.

    Alongside these developments, SatoshiPay is expanding its decentralised foreign exchange infrastructure. The company has launched a EURC–USDC decentralised exchange (DEX) on the Base blockchain and is integrating DEX aggregators to increase liquidity and usage. It is also developing a retail Vortex widget designed to route fiat payments directly into decentralised finance yield products. These initiatives are expected to support higher transaction volumes over time and strengthen SatoshiPay’s position in both institutional payments and decentralised trading markets.

    Blue Star’s outlook remains constrained by weak financial fundamentals, including minimal or negative revenue, ongoing losses and continued negative operating and free cash flow, although the absence of debt provides some balance sheet stability. Technical indicators also point to caution, with the share price trading below key moving averages and a negative MACD signal. Valuation metrics offer limited support given the company’s negative P/E ratio and the lack of dividend yield data.

    More about Blue Star Capital

    Blue Star Capital is an AIM-listed investment company focused on emerging technologies, particularly in blockchain and payments. Its portfolio includes SatoshiPay, which develops fiat-to-crypto and decentralised finance infrastructure, as well as gaming-related investments such as Dynasty Media & Gaming and Paidia.

  • Mkango raises £12.5m in oversubscribed share offering to support German expansion

    Mkango raises £12.5m in oversubscribed share offering to support German expansion

    Mkango Resources (LSE:MKA) has completed an oversubscribed equity fundraising, increasing the size of the raise from £10 million to £12.5 million. The company issued approximately 37.9 million new shares at a price of 33 pence each, representing around 10.8% of its share capital prior to the transaction. The fundraising involved a combination of a placing, LIFE offering, retail offer and subscription, attracting participation from both existing and new investors. Admission of the new shares to trading on AIM and the TSX Venture Exchange is expected on 10 April, subject to regulatory approval.

    The proceeds will be used to support a potential acquisition of a complementary magnet business in Germany, as well as to fund capital expenditure at Mkango’s operations in the UK and Germany and provide additional working capital. Management said the strong investor demand reflects confidence in the company’s strategy to establish an integrated rare earths supply chain, even amid challenging market conditions. The announcement also noted insider participation in the retail offering, which has been treated as a related party transaction under Canadian securities regulations.

    More about Mkango Resources

    Mkango Resources is a rare earths company listed on AIM and the TSX Venture Exchange, focused on developing an integrated supply chain for rare earth materials. The group is expanding its magnet manufacturing and processing activities in the UK and Germany, targeting growing demand for critical materials used in green technologies and advanced manufacturing.

  • Cavendish remains profitable on steady revenue as diversified model supports performance

    Cavendish remains profitable on steady revenue as diversified model supports performance

    Cavendish plc (LSE:CAV) reported group revenue of around £56 million for the year ended 31 March 2026, broadly unchanged from the previous year. Despite the flat top line, the company remained profitable across both halves of the financial year and finished the period with a strong, debt-free balance sheet and net cash of £19.2 million. A difficult environment for equity issuance was partly offset by solid activity in public markets, where strong equity trading and investment company revenues, along with net client growth and stable fee levels, helped support performance. In private markets, revenue declined as average deal sizes reduced, although deal volumes and fee quality remained resilient.

    Management emphasised that the group’s diversified revenue base, disciplined cost management and improvements in client origination and retention are positioning the business for a return to sustained growth as market conditions improve. Cavendish enters FY27 with a strengthening deal pipeline, a higher proportion of recurring retainer income, expanded equity distribution capabilities and fully staffed regional offices. These developments are expected to support higher revenue per employee and increased mid-market private M&A activity, even as geopolitical uncertainty, macroeconomic pressures and debate around AI’s market impact continue to shape the broader business environment.

    The company’s outlook reflects a mixed financial picture, with stabilising performance and improving cash flow alongside potential technical signs of overbought conditions in the share price. Valuation remains supported by a relatively attractive dividend yield, although the P/E ratio is comparatively high. Limited information from earnings calls or major corporate events restricts further insight into near-term catalysts.

    More about Cavendish plc

    Cavendish plc is a UK investment bank specialising in advisory services for small and mid-sized companies throughout their growth cycle. Its platform spans public and private markets, including equity capital markets, equity trading, investment company services and mid-market private M&A advisory. The firm also maintains a growing regional presence through offices in Birmingham and Manchester.

  • Topps Tiles holds revenue steady while outperforming weak DIY market

    Topps Tiles holds revenue steady while outperforming weak DIY market

    Topps Tiles (LSE:TPT), the UK’s largest tile specialist, reported first-half group revenue of £142.7 million, broadly unchanged from the previous year, while continuing to outperform a Home Improvements and DIY market estimated to have declined by around 2.5%. Revenue excluding CTD rose 2.1%, with like-for-like sales increasing slightly by 0.1%. Meanwhile, CTD locations returned to like-for-like growth as demand from housebuilders began to recover.

    Amid softer consumer spending and ongoing cost pressures, the group has introduced a series of operational measures aimed at protecting profitability. These include the planned closure of 23 underperforming Topps Tiles stores as management prioritises margin improvement over top-line growth. At the same time, the company is accelerating its digital and data strategy. Online revenue now accounts for 21% of total sales, supported by strong growth at its online-focused Pro Tiler brand and improving performance from Fired Earth. These initiatives are expected to support profit growth during the current year and strengthen the group’s operational position heading into 2027 and beyond.

    Topps Tiles’ outlook is supported by improving underlying fundamentals and strong cash generation, alongside an attractive valuation characterised by a moderate P/E ratio and a relatively high dividend yield. However, the company continues to face challenges including elevated leverage and weaker technical indicators, with the share price trading below major moving averages and signalling bearish momentum. Commentary from the latest earnings call suggests a cautiously positive outlook, although execution risks and cost pressures remain factors to watch.

    More about Topps Tiles

    Topps Tiles is the UK’s largest specialist retailer of tiles and related products, supplying domestic, trade and commercial customers as well as housebuilders. The group serves homeowners, contractors, architects and designers through a network of 289 Topps Tiles stores, 22 CTD outlets, a commercial showroom in London and ten transactional websites across its various brands.

  • Insig AI targets expansion and considers Nasdaq dual listing

    Insig AI targets expansion and considers Nasdaq dual listing

    Insig AI (LSE:INSG) reported unaudited revenue of £0.8 million for the year ended 31 March 2026, representing a 56% increase compared with the previous year. The company expects revenue momentum to strengthen further in the current financial year as recently secured contracts begin contributing recurring income. Management forecasts that sales in the year to March 2027 could more than double, potentially moving the business into operating profitability, while it also evaluates targeted strategic investments to expand the capabilities of its AI-driven data infrastructure.

    The group finished the period with approximately £0.1 million in cash and is considering a potential £0.5 million equity investment from its chief executive at a significant premium to the current market price, signalling management’s confidence in the company’s outlook. Insig AI has also reviewed over 100 opportunities within the digital assets space and is assessing the possibility of a dual listing on Nasdaq to raise additional capital for investment in this sector. Such a move could expand the company’s investor base and strengthen its position within the emerging digital assets ecosystem.

    Despite strong revenue growth, Insig AI’s outlook remains constrained by weaker financial fundamentals, including operating losses, negative cash flow and concerns around equity and solvency. Technical indicators also suggest caution, with the share price showing a longer-term downward trend and a negative MACD signal. Valuation metrics remain difficult to assess due to the company’s negative P/E ratio and the absence of dividend data.

    More about Insig AI PLC

    Insig AI plc is a London-listed provider of artificial intelligence-powered data infrastructure and machine learning solutions. Its technology helps organisations extract, structure and tag complex documents so they can be fully machine-readable, enabling clean data to be connected with clients’ chosen large language models. This approach supports flexible, vendor-agnostic AI deployments while maintaining security and cost efficiency. The company is also exploring opportunities in the rapidly growing digital assets sector.