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  • FTSE 100 falls as Gulf conflict pushes Brent close to $100 a barrel

    FTSE 100 falls as Gulf conflict pushes Brent close to $100 a barrel

    The FTSE 100 moved lower on Wednesday as investors assessed further military developments involving the United States and Iran, while Brent crude approached $100 a barrel.

    The UK benchmark was down 0.28% as of 03:18 ET (07:18 GMT). Elsewhere in Europe, Germany’s DAX declined 0.52% and France’s CAC 40 fell 0.70%.

    Sterling gained 0.19% against the U.S. dollar to $1.3567.

    Oil prices continued to rise, with Brent crude up 2.1% at $99.97 a barrel and West Texas Intermediate gaining 1.71% to $94.64.

    Precious metals also moved higher. Gold futures increased 0.22% to $4,448.94, while spot gold was up 1.14% at $4,404.93.

    The market moves came as the United States and Iran reported further military activity in and around the Gulf.

    U.S. Central Command said it had destroyed five Iranian crude carriers after Iran’s Islamic Revolutionary Guard Corps twice fired ballistic missiles at a U.S. Navy warship. CENTCOM said the vessel avoided both missile attacks and that no U.S. personnel were injured.

    The IRGC said its forces had targeted two U.S. vessels, eight oil tankers and 10 other “violating ships” in the Strait of Hormuz.

    The IRGC also said it had carried out missile strikes against the U.S. al-Azraq base in Jordan, targeting facilities associated with F-35, F-16 and F-15 aircraft. Jordan’s military said it intercepted 18 of 20 missiles fired at its territory, with the remaining two landing in open areas without causing damage.

    Separately, Reuters-sourced reporting indicated that Oman and Iran are expected to announce a temporary shipping corridor through the Strait of Hormuz within days.

    CENTCOM also released footage showing an Iranian vessel sinking in the Gulf of Oman. Shipping data for the Strait of Hormuz showed six commodity vessels transited the waterway on Tuesday, compared with a 10-day average of 12.

    Jefferies’ Mohit Kumar said “Middle East tensions continue to dominate markets” and that a rise in Brent toward $100 “could also draw some optimism that oil prices are reaching a pain point which would make Trump more willing to do a deal.”

    ING strategists said “recent developments only reinforce the view that we’re still some way from a restart in talks,” adding that the market “is likely to continue to price in a sizeable risk premium.”

    UK company news

    Aberdeen (LSE:ABDN) appointed former Sampo chief executive Torbjörn Magnusson as chair-designate and non-executive director. He is set to succeed Douglas Flint, who plans to step down at the company’s annual general meeting in April. Magnusson previously led Sampo and oversaw its £1.7 billion acquisition of Hastings Group.

    Energean (LSE:ENOG) reported a 45% increase in first-half profit, supported by the recognition of deferred tax assets in Italy. The company maintained its annual production guidance following the restart of its Israeli operations.

  • European energy shares rise as Middle East conflict lifts Brent toward $100

    European energy shares rise as Middle East conflict lifts Brent toward $100

    European oil and gas shares moved higher on Tuesday as an escalation in the Middle East coincided with crude prices reaching their highest levels since late July.

    Brent crude futures gained 2.1% to $99.93 a barrel by 04:09 ET (08:09 GMT), putting the international benchmark close to $100. U.S. West Texas Intermediate crude rose 1.4% to $94.31 a barrel.

    The STOXX Europe 600 Oil & Gas Index advanced 0.8%, making energy one of the leading sectors within the broader European market.

    Among individual companies, TotalEnergies (EU:TTE), Eni (BIT:ENI), Neste (TG:NEF) and Galp Energia (EU:GALP) gained between 1.2% and 1.9%. Maurel & Prom (EU:MAU) rose 0.8%, while Equinor (TG:DNQ) advanced 3.1% and Repsol (TG:REP) increased 2.1%.

    UK-listed energy companies also moved higher, with Shell (LSE:SHEL) gaining 1.2% and BP (LSE:BP.) rising 1.8%.

    The market moves followed a further escalation in the six-month conflict in the Middle East. Iranian-backed Houthi forces in Yemen carried out strikes on several Saudi cities, while U.S. forces struck multiple Iranian oil tankers. Iran also targeted a U.S. base in Jordan and shipping vessels.

    The developments added to existing disruptions affecting Middle Eastern energy infrastructure and shipping routes, increasing uncertainty surrounding regional oil supplies.

    Brent crude has risen by approximately 25% since early August as fighting in the region resumed and expectations for a lasting resolution to the conflict diminished.

  • Amgen and AstraZeneca report survival improvement in lung cancer trial

    Amgen and AstraZeneca report survival improvement in lung cancer trial

    Amgen Inc. (NASDAQ:AMGN) and AstraZeneca PLC (LSE:AZN) reported results from a late-stage clinical trial evaluating a combination of Amgen’s Imdelltra and AstraZeneca’s Imfinzi as a maintenance treatment for extensive-stage small-cell lung cancer.

    The trial compared Imdelltra plus Imfinzi with Imfinzi alone in patients whose disease had not progressed following standard initial therapy.

    According to the companies, the combination demonstrated improvements in overall survival, progression-free survival and response rate compared with Imfinzi alone. They also said no new safety concerns were identified during the trial.

    Imdelltra received accelerated approval from the U.S. Food and Drug Administration in 2024 for extensive-stage small-cell lung cancer, followed by traditional approval in 2025.

    The treatment generated $513 million in sales for Amgen last year. Cancer treatments account for approximately 23% of the company’s total revenue.

    Imdelltra is part of Amgen’s portfolio of bispecific antibodies. These treatments are designed to connect cancer cells with immune cells, allowing the immune system to target the cancer cells.

  • Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin PLC (LSE:GDWN) said it is in advanced discussions over the potential sale of a substantial part of its Mechanical Engineering division for headline cash consideration of up to approximately £1.1 billion.

    The proposed transaction would involve Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps. The potential buyer is funds advised by Cerberus Capital Management, L.P.

    The headline cash consideration would be subject to customary closing adjustments.

    Goodwin described Cerberus as an investor with relevant industry experience. The company has not confirmed that an agreement will be reached or that a transaction will ultimately be completed.

    Goodwin first confirmed a strategic review on August 7 following press speculation. At the time, the company said the review was examining options to maximise shareholder value while maintaining continuity for customers and other stakeholders.

    Rothschild & Co is advising Goodwin’s board on the strategic review.

    Goodwin shares rose on Wednesday following the announcement of the advanced discussions.

  • Aberdeen Group appoints Torbjörn Magnusson as chair-designate

    Aberdeen Group appoints Torbjörn Magnusson as chair-designate

    Aberdeen Group plc (LSE:ABDN) has appointed Torbjörn Magnusson to its board as a non-executive director and chair-designate, with his appointment as chair subject to regulatory approvals.

    Magnusson is expected to succeed Jonathan Asquith, who has been serving as interim chair and will remain in the position until Magnusson’s appointment becomes effective.

    The appointment follows Aberdeen’s announcement last year that Sir Douglas Flint would step down as chair by the company’s 2026 annual general meeting.

    “We are delighted to have Torbjörn joining the Board as Non-Executive Director and Chair-designate,” Asquith said. “He is a highly regarded and versatile international business leader who brings more than 30 years of leadership experience spanning a breadth of CEO, Non-Executive Director, and Chair roles across large financial services businesses.”

    Magnusson was chair of Nordea Bank Abp from 2019 to 2022 and deputy chair from 2022 to 2023. He also served as chief executive officer and president of Sampo for almost six years until 2025, during which time the company completed its £1.7 billion acquisition of Hastings.

    He previously served as president and CEO of If P&C Insurance between 2002 and 2019 and as its chair from 2019 to 2025. Magnusson is currently a non-executive director of Canopius Group and recently stepped down as a non-executive director of Hastings Group.

    “Aberdeen has transformed its performance materially over the last few years, building the foundations for long-term value creation,” Magnusson said. “I am very much looking forward to working with the Board, and with Jason and his management team, to help the company continue that progress and achieve its ambitions.”

    Magnusson will receive an annual fee of £475,000.

  • Nexteq H1 revenue falls 34% as gaming volumes decline

    Nexteq H1 revenue falls 34% as gaming volumes decline

    Nexteq (LSE:NXQ) reported revenue of $26.7 million for the first half of 2026, a decline of 34% year-on-year, as lower demand from major gaming customers affected trading.

    The technology solutions provider recorded an adjusted pretax loss of $4.0 million and a statutory pretax loss of $4.7 million. Adjusted loss per share was $0.08, while statutory loss per share was $0.09.

    Gross margin declined to 30.3%, with Nexteq citing higher component costs, the annualisation of Everi’s consolidation and increased component pricing. Performance from Densitron provided a partial offset.

    The company said lower volumes from major gaming customers reflected higher product costs and tariffs. Nexteq implemented restructuring and other cost-saving measures during the first half, which it said generated annual overhead savings of $1.3 million.

    Nexteq returned $5.7 million to shareholders through share buyback programmes during the period.

    The company maintained its full-year 2026 trading guidance, with order coverage standing at 83% at the end of August. Management expects challenging conditions in the land-based gaming market to continue through 2026 and 2027.

    Nexteq also expects its cash balance to improve during the second half, supported by the unwind of a Taiwan mortgage and a property sale.

  • WAG Payment Solutions raises 2026 cash EBITDA guidance

    WAG Payment Solutions raises 2026 cash EBITDA guidance

    WAG Payment Solutions (LSE:EWG) raised its full-year 2026 adjusted cash EBITDA guidance to between €110 million and €115 million, narrowing its previous range of €105 million to €115 million.

    The payment solutions provider reported first-half net revenue of €1.38 billion, an increase of 10.7% year-on-year, while adjusted EBITDA rose 10.5% to €70.6 million. The adjusted EBITDA margin was 39.3%.

    Pretax profit for the period was €8.4 million. Basic earnings per share declined compared with the prior-year period, which the company attributed primarily to higher finance expenses and foreign exchange losses.

    Following the end of the reporting period, WAG Payment Solutions paid a special dividend of 1.5 pence per share, representing a total payment of €12.1 million.

    For the full year, the company continues to expect low double-digit net revenue growth and an adjusted EBITDA margin of approximately 40%. It also expects net leverage to be below 2.0 times.

    Revenue growth during the first half was supported by the expansion of toll services and payment solutions. The number of active trucks increased 7% year-on-year.

    WAG Payment Solutions said the migration and integration of customers onto its Eurowag Office platform contributed to increased customer engagement and use of its services.

  • Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario (LSE:ANP) reported revenue of £24.3 million for the six months ended 30 June 2026, an increase of 7% from the prior-year period, while adjusted EBITDA rose 22% to £5.0 million.

    Profit before tax increased 11%, and the animal feed additives manufacturer raised its interim dividend. The company attributed the earnings performance in part to pricing and lower underlying administrative costs.

    Sales from Anpario’s key brands, which account for almost 80% of group revenue, increased 17% and reached a record level during the period.

    Regional growth was led by India, the Middle East and Africa, alongside the Americas, which is now Anpario’s largest market. The company said its acquisition of Bio-Vet and the integration of the commercial teams contributed to sales growth in the United States and provided additional opportunities to sell products across the combined customer base.

    Revenue in Asia declined 9%, primarily reflecting lower demand for mycotoxin binder products. Anpario attributed the decrease to economic conditions in the region and the impact of the Iran conflict.

    The company continues to increase its focus on higher-value feed additives and plans to rebrand Bio-Vet under the Anpario name.

    More about Anpario

    Anpario plc is a UK-listed manufacturer of animal feed additives focused on animal health, nutrition and biosecurity.

    Its product portfolio includes Orego-Stim, Optomega, pHorce, Mastercube and the Bio-Vet range. The company sells through direct operations and distribution channels across markets including the Americas, India, the Middle East, Africa and Asia.

    Anpario’s acquisition of Bio-Vet expanded its activities in ruminant nutrition, including in the United States.

  • Victrex raises FY26 profit guidance to £45 million-£47 million

    Victrex raises FY26 profit guidance to £45 million-£47 million

    Victrex (LSE:VCT) has raised its full-year 2026 underlying profit before tax guidance to between £45 million and £47 million, from its previous range of £42 million to £44 million, following improved trading into the fourth quarter.

    The high-performance polymers group reported year-on-year revenue growth across aerospace, value-added resellers and electronics, with the company highlighting demand in the Asia-Pacific region.

    Victrex said its previously announced 10% reduction in headcount has been completed and is contributing to profit performance.

    The company has also appointed Chris Gilbert as interim chief financial officer. Victrex said Gilbert has experience in finance transformation.

    Separately, Victrex has completed the disposal of its US-based Kleiss Gears business. The transaction will result in an exceptional loss of approximately £3 million.

    The company said the disposal follows its work to develop the market for PEEK gears and forms part of a strategy to focus resources on its core polymer operations.

    Victrex is scheduled to hold a capital markets event later this month.

    More about Victrex

    Victrex plc is a UK-listed manufacturer of high-performance polymer materials and products.

    The company supplies polymers, semi-finished products and finished components for markets including automotive, aerospace, energy and industrial, electronics and medical applications.

    Victrex has more than 40 years of experience in high-performance polymers and operates across multiple international markets.

  • Pebble Beach Systems H1 revenue rises 10% as recurring revenue increases

    Pebble Beach Systems H1 revenue rises 10% as recurring revenue increases

    Pebble Beach Systems (LSE:PEB) reported revenue of £6.5 million for the six months ended 30 June 2026, an increase of 10% from the prior-year period, while adjusted EBITDA rose 25% to £2.5 million.

    The broadcast and streaming software provider reported a 260% increase in statutory profit before tax to £1.8 million.

    Project revenue increased 19% to £3.1 million, while recurring support and maintenance revenue rose 6% to £3.4 million. Annualised recurring revenue increased 20% to £8.1 million, supported by service-level agreement renewals, contract expansions and new customers.

    Net debt excluding leases declined 76% to £0.8 million during the period. Management expects the company to move into a net cash position by the end of 2026.

    Pebble added four major customers during the first half, including streaming businesses in the US and Romania and Tier 1 broadcasters in Singapore and Australia. It also secured a contract in the Middle East and completed installations for broadcasters in North America, Dubai and Europe.

    The company reported £6.3 million of new orders and said it continued to invest in employees and technology during the period.

    Pebble said second-half margins are expected to normalise as higher-margin software licence sales are anticipated to account for a smaller proportion of the revenue mix.

    The company also plans to update its capital allocation policy in the new financial year.

    More about Pebble Beach Systems

    Pebble Beach Systems Group, trading as Pebble, provides software for broadcast and streaming operations.

    Its products include playout automation and integrated channel technology and are used to control more than 1,000 channels for broadcasters across more than 60 countries.

    The company’s revenue includes software projects alongside recurring support and maintenance income generated through service-level agreements.