Blog

British equities climbed on Friday, bouncing back from the previous day’s declines despite U.S. President Donald Trump announcing new trade tariffs, including a 100% duty on imported pharmaceutical products.

The FTSE 100 index was up roughly 1% as of 0720 GMT, while the British pound edged slightly higher against the U.S. dollar, trading at 1.33. European markets also advanced, with Germany’s DAX rising 0.4% and France’s CAC 40 up 0.7%.

Trump’s Tariffs Weigh on Pharma, UK Stocks Hold Firm

European pharmaceutical stocks fell following the tariff announcement, although UK companies saw more muted movements. In early European trading, AstraZeneca PLC (LSE:AZN) slipped 0.09%, while GSK plc (LSE:GSK) increased 0.3%. Hikma Pharmaceuticals PLC (LSE:HIK), focused on generics unaffected by the tariffs, gained 1.7%.

Meanwhile, continental European firms including Novo Nordisk A/S Class B (NYSE:NVO), Roche Holding AG (BIT1:ROG), and Novartis AG (NYSE:NVS) each fell between 1.2% and 2.4% on the Tradegate platform.

Pennon Projects “Strong Return to Profitability”

Water utility Pennon Group (LSE:PNN) confirmed it remains on track for 2025/26, forecasting a “strong return to profitability” in its trading statement released Friday. The company anticipates around 60% EBITDA growth year-over-year, slightly below Jefferies’ estimate of 66% and consensus expectations of 67%. Analysts suggested this variance could be linked to Pennon shifting some revenues from the current year into the next to smooth customer billing profiles.

Ceres Power Sees Revenue Dip Amid Shift to Commercial Production

Clean energy technology developer Ceres Power Holdings PLC (LSE:CWR) reported a 26% decline in revenue to £21.1 million for H1 2025, reflecting its transition from R&D to commercial operations. Despite lower revenues, attributed to significant one-off license revenue from the Delta agreement in 2024, the company maintained a solid balance sheet with £104.1 million in cash and short-term investments, recording a positive cash inflow of £1.6 million over the period.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Tandem Group plc (LSE:TND) posted a 14.3% increase in revenue to £11.2 million and a 21.4% rise in gross profit for the first half of 2025, driven by effective inventory management and cost control measures. The company also reduced net debt by 17.9% and experienced sales growth in July and August. Despite macroeconomic pressures, including high unemployment and rising costs, management remains optimistic about future conditions, supported by product innovation and a diversified business strategy. Dividend payments are expected to resume when profitability allows.

Financially, Tandem faces challenges related to profitability and valuation, reflected in a negative P/E ratio and the absence of a dividend yield. Technical indicators are neutral, though some bearish momentum is present. Strong cash flow management and continued attention to debt levels will be critical for maintaining performance.

About Tandem Group plc

Tandem Group plc designs, develops, distributes, and retails sports, leisure, and mobility equipment. Its diverse product range includes toys, golf, cycling, and home & garden items, supported by expanding licensing partnerships and proprietary brands.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Defence Holdings PLC (LSE:ALRT) will host a live broadcast interview with its newly appointed Non-Executive Chairman, Field Marshal Lord Houghton, on October 3, 2025. The discussion will highlight Lord Houghton’s extensive military career, his insights on the evolving defence landscape, and his plans for shaping the company’s strategic direction.

The appointment is expected to strengthen Defence Holdings’ position in the defence technology sector, enhance engagement with policymakers, and bolster investor confidence.

About Defence Holdings

Defence Holdings PLC is the UK’s first listed software-led defence company, focused on developing sovereign AI applications in collaboration with hyperscale platforms and UK deep-tech providers. The company aims to advance national defence capabilities through innovative technology solutions.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gulf Keystone Petroleum (LSE:GKP) has restarted crude oil exports from Kurdistan through the Iraq-Türkiye Pipeline, following agreements with both the Kurdistan Regional Government and the Federal Government of Iraq. The resumption of exports is expected to improve the company’s cash flow by enabling sales at international prices and support long-term investment in Kurdistan’s oil and gas reserves.

The agreements adhere to Iraq’s 2023–2025 Budget Law, ensuring compensation for production costs during an interim period, with a reconciliation to full Production Sharing Contract entitlements anticipated subsequently.

About Gulf Keystone Petroleum

Gulf Keystone Petroleum Ltd. is an independent operator and producer in the Kurdistan Region of Iraq, focused on oil and gas exploration and production. The company aims to optimize resource development while navigating geopolitical and operational challenges.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Carclo plc (LSE:CAR) has reported trading results in line with management expectations, driven by strong margins and growth in its CTP Manufacturing Solutions and Speciality segments. These gains offset weaker revenues in Design and Engineering (D&E) and challenges from foreign exchange fluctuations. The company maintains its full-year outlook, anticipating a recovery in D&E revenues while sustaining healthy margins.

Operational improvements in the US and EMEA, combined with strategic realignments within CTP Manufacturing Solutions, have bolstered overall financial performance. The Speciality business continues to benefit from robust aerospace demand and gains in market share, supporting the company’s broader growth strategy.

About Carclo plc

Carclo plc is a global precision engineering group listed on the London Stock Exchange. It specializes in designing, industrializing, and manufacturing reliable solutions for the Life Sciences, Aerospace, and Safety & Security sectors, with a focus on regional production capabilities.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Quadrise Fuels International (LSE:QED) has signed an addendum to its Site License and Supply Agreement with Valkor Technologies in Utah, USA. The revision re-phases a $1 million payment to Quadrise and adjusts the delivery schedule for Multifuel Manufacturing Units to match Valkor’s updated oil production plans. The collaboration is designed to leverage Quadrise’s technology to produce low-sulfur fuels and biofuels, expanding Valkor’s reach in the heavy sweet oils market.

Financially, Quadrise faces challenges due to weak performance and valuation pressures, though positive technical indicators and strategic corporate developments offer some balance. The company’s focus on partnerships and sustainable fuel innovation presents future growth potential, yet current financial constraints and limited revenue generation remain significant risks.

About Quadrise Fuels International

Quadrise Fuels International provides MSAR® and bioMSAR™ emulsion technologies, along with fuels and biofuels, aimed at reducing energy costs, pollution, and greenhouse gas emissions. Its solutions serve global power generation, shipping, industrial, and oil sectors, promoting more efficient and sustainable fuel use.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

MyHealthChecked PLC (LSE:MHC) reported £0.5 million in revenue for the first half of 2025, a decline from the previous year, while its wellness portfolio grew by 60%. The company has bolstered its market presence through strategic collaborations, notably a major partnership with Boots to supply lateral flow self-tests and laboratory tests under Boots’ Own Brand label.

In addition, integration with Patients Know Best enables test results to be accessed via the NHS App, enhancing customer engagement and supporting future growth. Although COVID test sales have decreased, MyHealthChecked remains optimistic about the long-term potential of its wellness offerings.

About MyHealthChecked PLC

MyHealthChecked PLC is a UK-based healthcare company focused on at-home testing and wellness solutions. It provides a variety of rapid tests and sample collection kits for blood, urine, nasal, or mouth swabs, analyzed by partner laboratories. The company’s mission is to make healthcare more accessible and affordable while capitalizing on the expanding at-home testing market.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Seeing Machines Limited (LSE:SEE) has secured a major five-year agreement with a leading UK bus OEM to deploy its Guardian Generation 3 technology across Europe. This initiative aligns with upcoming General Safety Regulation requirements for advanced driver distraction warnings. Alongside existing collaborations with other OEMs and industry partners, the agreement highlights the company’s focus on road safety and positions Seeing Machines as a key contributor to enhancing transport safety across Europe and the UK.

Financially, the company faces instability, though recent corporate developments and strategic partnerships indicate growth potential. Moderate technical indicators support cautious optimism, while financial challenges and valuation considerations continue to weigh on the outlook.

About Seeing Machines

Founded in 2000 and headquartered in Australia, Seeing Machines Limited is a leader in vision-based monitoring technology. The company specializes in AI algorithms, embedded processing, and optics for driver monitoring systems (DMS), enhancing safety in automotive, commercial fleet, off-road, and aviation sectors. With offices in Australia, the USA, Europe, and Asia, Seeing Machines provides technology solutions to industry leaders across multiple markets.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Aminex PLC (LSE:AEX) has announced that its Ntorya Gas Development project in Tanzania has officially entered the construction phase. The pipeline contract has been awarded, and groundwork is scheduled to begin in January 2026. The project is expected to play a transformative role in Tanzania’s energy sector by boosting gas production, replacing polluting fuels, and supporting industrial growth while addressing energy access challenges.

Aminex’s involvement in Ntorya is backed by strong governmental and regulatory support, providing a stable operating environment and potential for long-term shareholder value. The project reinforces the company’s strategic position in the country’s evolving energy landscape.

About Aminex PLC

Aminex PLC is an energy-focused company specializing in the exploration and development of oil and gas resources. Its primary asset, the Ntorya Gas Development project in Tanzania, aims to provide cleaner, reliable gas for power generation, industrial use, and agriculture, contributing to enhanced energy security in the region.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Digital 9 Infrastructure plc (LSE:DGI9) has released its unaudited results for the half-year ending June 2025, highlighting substantial progress in its wind-down plan. The company has strengthened its financial position through key divestments, including SeaEdge UK1 and EMIC-1, with the sale of Aqua Comms expected by year-end. These transactions have allowed full repayment of its Revolving Credit Facility, and capital returns to shareholders are anticipated to begin in early 2026.

While Net Asset Value has declined slightly, the company reported strong operational performance from its remaining assets, Elio Networks and Arqiva. Plans are in place to initiate sale processes for these assets in 2027, aiming to maximize shareholder value.

About Digital 9 Infrastructure Plc

Digital 9 Infrastructure plc (DGI9) is a London Stock Exchange-listed investment trust, part of the FTSE All-Share index, focused on the orderly realization of its portfolio assets. The company’s strategy centers on managing its wind-down efficiently while optimizing returns for shareholders.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.