Blog

ValiRx (LSE:VAL) has reinforced the intellectual property position of its majority-owned subsidiary Cytolytix after securing a key European patent covering nanoparticles designed for anti-cancer peptides, licensed from King’s College London. The patent strengthens Cytolytix’s underlying technology platform, improves its appeal to prospective investors, and broadens potential opportunities for licensing agreements and strategic oncology partnerships.

The group has also submitted a new patent application covering second-generation liposomal versions of its oncolytic peptide technology. The filing is supported by preclinical research demonstrating immunogenic cell death in triple negative breast cancer models. In parallel, the company continues to progress a separate core European patent while presenting the technology platform to industry participants. ValiRx said it is engaged in discussions with several prospective partners, including a major pharmaceutical company, and intends to expand use of the oncolytic platform across both human oncology and its Animal Health division.

ValiRx plc’s outlook continues to be weighed by difficult financial performance, including ongoing losses and dependence on external funding. Technical indicators point to a generally bearish trend in the shares, although there remains some potential for upward price movement. Valuation metrics remain weak, reflecting a negative price-to-earnings ratio and the absence of a dividend yield.

More about ValiRx plc

ValiRx plc (LSE:VAL) is a London-listed life sciences business focused on developing early-stage cancer therapeutics and women’s health treatments. The company provides scientific, commercial and financial support frameworks aimed at advancing novel drug candidates into clinical development. Through its subsidiary structure, ValiRx develops promising preclinical assets before seeking licensing agreements or strategic partnerships for further development and commercialisation.

GNC (LSE:GNC) reported robust first-half results for the six months ended 27 March 2026, marking the first reporting period to include the recently acquired Bakkavor UK business. Pro forma UK revenue increased 3.2% to £1.32bn, while pro forma adjusted operating profit climbed 15.3% to £73.3m. Operating margins improved to 5.6% as tighter cost management and operational efficiencies helped offset softer conditions in the grocery sector.

The enlarged business remains on course to generate at least £80m in annual cost synergies within three years. However, integration expenses, acquisition-related charges and working-capital outflows contributed to negative free cash flow during the period, pushing net debt higher to £817.6m, equivalent to 2.3 times EBITDA. Management pointed to resilient trading performance, strong customer service metrics and new contract wins, while also confirming that its US operations are now classified as held for sale. The move reinforces Greencore’s focus on the UK convenience food market and could signal further portfolio adjustments ahead.

Greencore’s outlook continues to be supported by strong earnings momentum and strategic growth initiatives. The group delivered stable revenue growth alongside improving profitability, while technical indicators suggest moderate bullish momentum in the shares. Valuation metrics imply the stock is trading at broadly fair levels, and the absence of major corporate disruptions adds to the company’s stable near-term outlook.

More about Greencore

Greencore Group is the UK’s largest producer of fresh convenience foods, supplying major supermarkets and foodservice operators with a range of more than 4,000 products. Following the acquisition of Bakkavor’s UK operations in January 2026, the company has materially expanded its scale, operational capabilities and category presence within chilled prepared foods.

Oil prices surged on Tuesday after fresh U.S. military action against Iran raised concerns that efforts to secure a peace agreement and fully restore shipping through the Strait of Hormuz could face further delays.

U.S. Secretary of State Marco Rubio said on Tuesday that finalizing a deal with Iran may “take a few days,” cooling expectations of an immediate breakthrough after Washington launched what it described as defensive strikes in southern Iran a day earlier.

“We are still waiting for more details on a potential deal,” said Giovanni Staunovo at UBS. “Meanwhile we see renewed tensions in the Middle East, while flows through the Strait remain restricted.”

Brent recovers strongly amid renewed supply concerns

Brent crude futures rose $3.04, or 3.2%, to $99.18 a barrel by 08:20 GMT after plunging 7% during the previous trading session.

Meanwhile, U.S. West Texas Intermediate crude traded at $92.53 a barrel, down $4.07, or 4.2%, from Friday’s close. No official WTI settlement was recorded on Monday because of the U.S. Memorial Day holiday.

Doha negotiations remain in focus as shipping disruptions persist

“While differences between the parties have narrowed, any eventual peace deal would likely lead only to a gradual reopening, meaning the current tight supply outlook could take months to normalize,” said Ole Hansen at Saxo Bank.

Since the conflict erupted, Tehran has effectively halted nearly all non-Iranian shipping traffic moving through the Strait of Hormuz, disrupting roughly 20% of global oil and liquefied natural gas supplies.

The latest strikes came as Iran’s chief negotiator and foreign minister met with Qatar’s prime minister in Doha to discuss a possible agreement with the United States aimed at ending the three-month war.

Officials in both Washington and Tehran said progress had been made on a memorandum of understanding that would pause the conflict and allow negotiators 60 days to reach a final agreement.

Reports indicate potential phased reopening of Hormuz

According to Japanese newspaper Nikkei, citing a diplomatic source from the Middle East, Iran would begin clearing mines from the Strait of Hormuz within 30 days under the proposed framework.

The report added that vessels from all countries would then be allowed to move through the waterway freely and securely, while Tehran would also end transit-fee charges.

Shipping data showed that three LNG carriers recently crossed the Strait heading toward Pakistan, China and India, alongside a supertanker carrying Iraqi crude to China that had remained stranded for almost three months.

Trump says agreement risks collapsing at final stage

U.S. President Donald Trump repeated on Monday his call for Iran to surrender its enriched uranium stockpiles so they can be destroyed.

“It’s a sharp reminder that the deal could still collapse at the 11th hour, much like the five previous attempts before it,” said Tony Sycamore, market analyst at IG Group.

Gold prices moved lower on Tuesday after fresh U.S. military strikes against Iran reduced optimism surrounding a possible diplomatic breakthrough that could reopen the Strait of Hormuz and ease concerns over rising energy-driven inflation.

Spot gold fell 0.9% to $4,529.38 an ounce by 06:13 ET (10:13 GMT), while gold futures posted a modest 0.1% gain to $4,561.80 an ounce.

Fresh military action dampens diplomatic optimism

Precious metals had previously found support after weekend reports indicated that Washington and Tehran were making progress toward a potential agreement aimed at restoring shipping access through the Strait of Hormuz.

That positive sentiment weakened after the U.S. military confirmed additional strikes on Iranian targets. According to American media reports, U.S. forces attacked mine-laying vessels in southern Iran, with U.S. Central Command characterizing the operation as defensive in nature.

CENTCOM also maintained that the ceasefire between the United States and Iran remained intact. At the same time, Iranian officials warned that any further military action against the country would trigger retaliation.

U.S. Secretary of State Marco Rubio later said that reaching a formal agreement could “take a few days,” while insisting that the Strait of Hormuz would reopen “one way or another.”

Higher oil prices and bond yields weigh on bullion

Oil markets rebounded following the renewed tensions, adding further pressure to gold prices.

Analysts at UBS said gold has increasingly traded inversely to government bond yields, which have risen as investors anticipate further monetary tightening from major central banks, including the Federal Reserve and the European Central Bank, in response to energy-related inflation risks.

Financial markets are currently pricing in a 40% likelihood that the Federal Reserve will raise interest rates by 25 basis points before the end of 2027. Non-yielding assets such as gold generally become less attractive in periods of elevated interest rates.

Dollar strength creates additional headwinds for gold

UBS analysts also pointed to renewed strength in the U.S. dollar, supported by rising bond yields, as another factor weighing on bullion markets by making gold more expensive for international buyers.

The U.S. dollar index, which measures the currency against six major peers, has advanced 1.3% over the last three months.

“Gold prices have struggled to regain momentum as higher U.S. bond yields, shifting central bank expectations, and renewed U.S. dollar strength reintroduce concerns over opportunity cost into the market’s pricing framework,” UBS analysts wrote in a research note lowering their year-end forecast for bullion prices.

Futures on the Dow Jones, Nasdaq, and S&P 500 opened the week in the green, while oil prices slipped on hopes that Washington and Tehran may finally reach an agreement after Trump said, “the final aspects of the deal are being discussed and will be announced shortly.”

Although Iran’s Foreign Ministry spokesperson, echoing some of the U.S. president’s rhetoric, noted a “trend toward rapprochement,” he stressed that this does not necessarily mean both sides will reach an agreement on the key issues.

In particular, the draft reportedly requires Tehran to permanently abandon its nuclear weapons program and dismantle all enriched uranium stockpiles, conditions Iran has previously rejected. There is also still little clarity on how control and security in the Strait of Hormuz would be managed.

If talks fail again, bond yields could rise, and stocks may turn more nervous as prolonged uncertainty around the Strait of Hormuz adds pressure to the economy through higher oil prices.

Meanwhile, inflation expectations continue to drift higher, with the one-year measure rising from 4.7% to 4.8% and the long-term gauge climbing from 3.5% to 3.9%, largely driven by independent and Republican voters. 

At the same time, consumer confidence in the U.S. continues to deteriorate. According to the University of Michigan, the consumer sentiment index fell to 44.8 in May, another record low. Assessments of current conditions dropped from 52.5 to 45.8, while the expectations index declined from 48.1 to 44.1, reaching historically depressed levels for the first time since 1973.

Markets are not yet pricing in that risk, but weaker consumer demand could eventually weigh on corporate profits. At the same time, the minutes from the latest Federal Reserve meeting showed that a rate hike may be necessary if inflation remains above the 2% target.

Now, even if an agreement is signed, it would likely be temporary rather than a full resolution to the broader conflict, so any rally could also be short-lived.