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  • U.S.-Iran Ceasefire Uncertain; Markets Eye AMD Results: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S.-Iran Ceasefire Uncertain; Markets Eye AMD Results: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Futures for major U.S. indices moved higher on Tuesday, indicating a possible rebound after the previous session was weighed down by renewed tensions around the Strait of Hormuz. Investor sentiment had been rattled by fresh attacks, while uncertainty continues to surround the durability of the fragile ceasefire between the United States and Iran.

    Washington is pressing ahead with efforts to reopen the key shipping route, while attention also turns to corporate earnings, including results from chipmaker Advanced Micro Devices Inc. (NASDAQ:AMD), due after the close. At the same time, Apple Inc. (NASDAQ:AAPL) is reportedly exploring ways to broaden its semiconductor supply base.

    Futures Point to Gains

    At 03:34 ET, Dow futures were up 131 points, or 0.3%, while S&P 500 futures gained 19 points, also 0.3%. Nasdaq 100 futures advanced 112 points, or 0.4%.

    Wall Street had declined in the prior session as hostilities in the Gulf region intensified. Oil prices climbed back above $110 per barrel, as the U.S. stepped up attempts to reopen the largely blocked Strait of Hormuz.

    Energy stocks benefited from the rise in crude, while logistics names came under pressure. FedEx Corporation (NYSE:FDX) and United Parcel Service Inc. (NYSE:UPS) both fell after Amazon.com Inc. (NASDAQ:AMZN) introduced a new offering expected to intensify competition in deliveries.

    Rising Tensions Threaten Truce

    New attacks were reported on Monday, with Tehran responding to U.S. President Donald Trump’s push to reopen maritime traffic through the Strait of Hormuz, a crucial passage for roughly 20% of global oil supplies.

    Several merchant vessels in the Gulf reported fires or explosions. The U.S. said it had escorted two American-flagged ships through the strait while fending off attacks from Iranian drones and small armed boats.

    The unrest also appeared to spread further across the Middle East. In the United Arab Emirates, air defence systems intercepted missiles and drones launched from Iran, while an oil facility in Fujairah was targeted.

    Trump has shared limited details on the plan to reopen the route, known as “Project Freedom,” while Iran’s foreign minister cautioned that the U.S. risks becoming trapped in a “quagmire.”

    Oil Stays Elevated

    For much of the conflict, now stretching beyond two months, tanker traffic through the Strait of Hormuz has been heavily restricted due to the threat of Iranian attacks. This has pushed oil prices higher and heightened concerns over inflation and its potential impact on global growth.

    Still, some signs suggest U.S. efforts to escort vessels could be easing pressure in the region. Shipping group A.P. Moller-Maersk A/S said a U.S.-flagged vehicle carrier operated by one of its subsidiaries had successfully exited the Gulf with military support.

    Brent crude slipped 0.8% to $113.56 per barrel but remains well above levels seen before the conflict.

    AMD Earnings in Focus

    Investors are closely watching results from Advanced Micro Devices, which are due after the close. The update is expected to shed light on the company’s progress in challenging AI chip leader Nvidia.

    Earlier this year, AMD forecast first-quarter revenue of about $9.8 billion, plus or minus $300 million, slightly down from $10.27 billion in the previous quarter. The cautious outlook came despite improved sales in China, highlighting ongoing competitive pressures.

    Elsewhere, Palantir Technologies Inc. (NASDAQ:PLTR) beat quarterly expectations and raised its revenue forecast, though its shares declined in extended trading after finance chief David Glazer indicated costs are set to rise in 2026.

    Overall, the earnings season has offered some reassurance to investors unsettled by geopolitical risks, driven largely by strong performance from AI-related companies. S&P 500 firms are expected to report aggregate profit growth of around 28% year-on-year for the first quarter, well above initial projections.

    Apple Looks to Diversify Chip Supply

    Apple Inc. (NASDAQ:AAPL) has reportedly held early-stage discussions with Intel Corporation (NASDAQ:INTC) and Samsung Electronics Co. Ltd. (USOTC:SSHNZ) about manufacturing processors for its devices, according to Bloomberg.

    The talks reflect Apple’s effort to reduce dependence on long-time partner Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), which currently produces its custom chips.

    While discussions remain preliminary and no decisions have been finalised, any change would mark a notable shift in Apple’s supply chain strategy.

  • European Stocks Stabilise as U.S.-Iran Tensions Keep Markets on Edge: DAX, CAC, FTSE100

    European Stocks Stabilise as U.S.-Iran Tensions Keep Markets on Edge: DAX, CAC, FTSE100

    European equities steadied on Tuesday after early losses, as concerns grew that a fragile ceasefire between the United States and Iran could be breaking down into renewed conflict.

    By 08:37 GMT, the pan-European Stoxx Europe 600 was up 0.6%, while Germany’s DAX gained 0.8% and France’s CAC 40 rose 0.7%, all recovering from earlier declines. The UK’s FTSE 100 lagged behind, falling 0.8%.

    Escalation Raises Concerns Over Global Oil Supply

    Fresh hostilities erupted on Monday, with both sides launching attacks after Tehran responded to efforts by U.S. President Donald Trump to reopen shipping lanes through the Strait of Hormuz, a key route for around 20% of global oil flows.

    Reports emerged of fires and explosions affecting merchant vessels in the Gulf. The U.S. said it had successfully escorted two American-flagged ships through the strait, despite facing attacks from Iranian drones and small armed boats.

    The situation also escalated across the wider Middle East. In the United Arab Emirates, air defence systems intercepted missiles and drones launched from Iran, while an oil terminal in Fujairah was targeted.

    Oil Prices Remain Elevated

    For much of the conflict, now spanning more than two months, tanker traffic through the Strait of Hormuz has been severely disrupted due to the threat of Iranian strikes. This has driven oil prices sharply higher, raising concerns about inflation and its potential impact on global economic growth.

    Brent crude futures slipped 0.8% to $113.56 per barrel but remain significantly above pre-conflict levels.

    Trump, facing mounting domestic pressure over the situation, has provided limited details about efforts to reopen the shipping route under the plan known as “Project Freedom,” while Iran’s foreign minister warned against the U.S. becoming entangled in a “quagmire.”

    Stock Movers

    Among individual stocks, HSBC Holdings plc (LSE:HSBA) fell more than 5% after reporting first-quarter profit below expectations, largely due to a $400 million charge linked to a fraud case in the UK.

    In contrast, Anheuser-Busch InBev SA/NV (EU:ABI) gained ground after posting quarterly earnings that exceeded forecasts.

  • FTSE 100 Opens Lower as Middle East Tensions Drive Oil Higher

    FTSE 100 Opens Lower as Middle East Tensions Drive Oil Higher

    The FTSE 100 fell 1.05% at the open on Tuesday, as escalating tensions in the Middle East weighed on investor sentiment.

    At 07:10 GMT, sterling was broadly unchanged against the dollar at 1.3539, while European markets showed mixed performance. Germany’s DAX edged up 0.05%, and France’s CAC 40 gained 0.13%.

    Oil Prices Surge Amid Escalating Conflict

    Brent crude climbed sharply, reaching $114.44 on Monday before easing to around $113 in early Tuesday trading. The move reflects heightened fears of a broader conflict following renewed instability around the Strait of Hormuz.

    Tensions escalated after missile and drone strikes targeted the UAE, with Abu Dhabi reporting it intercepted 15 missiles and four drones. A fire was later reported at an oil facility in Fujairah port. Iran denied involvement, attributing the incident to U.S. actions, while the UAE condemned the attack and signalled it could respond.

    Naval Activity Intensifies in Strait of Hormuz

    The situation at sea also deteriorated, with U.S. naval forces escorting vessels through the Strait of Hormuz under reported attack conditions. Helicopters and additional military assets were deployed as part of a broader effort to secure commercial shipping routes.

    U.S. President Donald Trump indicated a firm stance, highlighting the availability of military resources and suggesting further escalation if necessary. He also called on South Korea to support the mission after an attack on a Seoul-operated cargo vessel near the UAE coast.

    Iranian officials issued strong warnings, with parliamentary leadership suggesting a shift in the strategic balance around the strait, while the country’s foreign minister emphasised that the crisis ultimately requires a political resolution.

    UK Market Round-Up

    Vodafone Group Plc (LSE:VOD) agreed to acquire CK Hutchison’s 49% stake in its VodafoneThree joint venture for £4.3 billion, taking full control of the UK’s largest mobile operator, serving more than 28 million customers.

    HSBC Holdings plc (LSE:HSBA) reported first-quarter pre-tax profit of $9.4 billion, slightly below expectations after a $400 million hit linked to a UK fraud case pushed expected credit losses up to $1.3 billion.

  • Intertek Shares Surge as EQT Raises Takeover Offer to £8.93bn

    Intertek Shares Surge as EQT Raises Takeover Offer to £8.93bn

    EQT AB (NYSE:EQT) has submitted an improved third takeover proposal for Intertek Group plc (LSE:ITRK), increasing its bid to £58 per share and valuing the business at approximately £8.93 billion ($12.08 billion).

    Market Reacts to Improved Bid

    Intertek shares rose nearly 7% in London trading following the announcement. The revised offer represents a 54% premium to the company’s closing price of 3,770 pence on April 9, the day before EQT’s initial approach became public.

    The new proposal surpasses EQT’s earlier £54-per-share bid, which was rejected last month. EQT stated that its latest offer delivers “certain and accelerated cash value” for shareholders and presents a more attractive outcome than Intertek continuing independently.

    Deadline Looms Under Takeover Rules

    Under UK takeover regulations, EQT must meet a “put up or shut up” deadline of 14 May, requiring it to either confirm a firm intention to proceed with an offer or withdraw its interest.

    Strategic Review Adds Context

    The approach comes as Intertek continues a strategic review announced last month, which includes evaluating a potential separation of its Energy & Infrastructure division. Options under consideration include a sale or demerger, which could result in two independent global businesses.

  • Auction Technology Group Shares Jump on CEO Appointment

    Auction Technology Group Shares Jump on CEO Appointment

    Auction Technology Group PLC (LSE:ATG) saw its shares rise around 7% on Tuesday after announcing the appointment of Duncan Painter as Chief Executive Officer, effective immediately.

    Leadership Transition Underway

    The company confirmed that Painter has taken up the role without delay, marking a swift leadership transition.

    John-Paul Savant, the outgoing CEO, will remain with the business until 20 May to support the handover process and ensure continuity.

  • HSBC Q1 Profit Edges Lower as Costs and Credit Losses Rise

    HSBC Q1 Profit Edges Lower as Costs and Credit Losses Rise

    HSBC Holdings plc (LSE:HSBA) reported a slight decline in first-quarter profit, as higher credit charges and operating costs offset solid revenue growth driven by its wealth division and net interest income.

    Europe’s largest lender posted profit before tax of $9.4 billion for the three months to March 31, down 1% from the same period last year. The bank attributed the decline to increased expected credit losses, higher expenses, and the impact of one-off items.

    Shares Fall Despite Revenue Growth

    HSBC shares dropped more than 5% in London trading following the results.

    Revenue increased 6% to $18.6 billion, supported by strong fee income from wealth management and improved net interest income. Net interest income rose 8% to $8.9 billion, benefiting from deposit growth and reinvestment at higher yields.

    Credit Losses and Costs Climb

    Expected credit losses rose by $400 million to $1.3 billion, partly linked to a fraud-related exposure in the UK and a more uncertain economic backdrop tied to conflict in the Middle East.

    Operating expenses increased 8% to $8.7 billion, reflecting inflationary pressures, higher investment in technology, and performance-related compensation.

    HSBC reported an annualised return on tangible equity of 17.3%, or 18.7% excluding notable items.

    Outlook: Strong Returns but Rising Risks

    Looking ahead, the bank reaffirmed its target of achieving a return on tangible equity of at least 17% over the 2026–2028 period. It also slightly raised its 2026 net interest income guidance to around $46 billion, while cautioning that macroeconomic conditions remain uncertain.

    “Q1 26 results contained a fair amount of noise across revenue and cost lines, but the underlying picture is one of a mildly stronger banking NII print and ongoing strength in Wealth. On this point, ’26E banking NII guidance has been raised to $46bn (in-line with street),” Jefferies analysts commented.

    The bank now expects credit losses to reach around 45 basis points of loans this year, higher than previous guidance, highlighting continued exposure to global economic risks.

  • Wizz Air Delivers Strong Passenger Growth in April

    Wizz Air Delivers Strong Passenger Growth in April

    Wizz Air Holdings PLC (LSE:WIZZ) reported carrying 6.63 million passengers in April 2026, representing a 22% increase compared with the same period last year.

    Load Factor Remains Solid

    The airline achieved a load factor of 88.9% during the month, reflecting continued strong demand across its network. The figures were released alongside the company’s April 2026 traffic and CO2 emissions data.

    Financial Position Reaffirmed

    In its update, Wizz Air reiterated confidence in its financial stability, signalling resilience as it continues to expand capacity and passenger volumes.

  • Détente in the Iran War that doesn’t exist

    Détente in the Iran War that doesn’t exist

    Continuing the saying, “Fool me once, shame on you; fool me twice, shame on me,” fool me three times and I should be an investor.

    As expected, the two-month deadline limiting the U.S. president’s ability to take military action without congressional approval has expired without the conflict coming any closer to an end. In a letter to congressional leaders, Trump argued that he is not subject to the War Powers Act, claiming that last month’s ceasefire with Iran “stopped the clock” on any such obligation. To be fair, historically, other presidents have also found ways to extend military interventions beyond that limit.

    Either way, the markets, judging by the rise in the S&P 500 and the Nasdaq, do not seem particularly concerned, betting on another “TACO” or a verbal intervention from the U.S. president.

    And they didn’t have to wait long. On Sunday, Trump said that a U.S. operation to ensure the safe passage of ships through the Strait of Hormuz would begin on Monday, adding that negotiations with Iran were progressing positively.

    The only issue is that, at the same time, Washington rejected Iran’s proposal to end the conflict in three phases, and, on top of that, reports emerged on Monday that Iran had attacked a U.S. vessel attempting to pass through the Strait of Hormuz after ignoring warnings.

    Although the U.S. has denied those claims, the two sides are still a long way from any real agreement, despite the optimistic rhetoric on Truth Social.

    For the global economy, this kind of uncertainty is far from benign. While central banks are not rushing to raise interest rates in response to inflation risks, they are preparing for that possibility. Even within the Federal Reserve, as Powell noted, a growing number of members are uncomfortable with maintaining a “more accommodative” stance.

  • Empire Metals Expands High-Grade Titanium Zone With Record Pitfield Drilling

    Empire Metals Expands High-Grade Titanium Zone With Record Pitfield Drilling

    Empire Metals Limited (LSE:EEE) has completed its largest-ever drilling programme at the Pitfield Titanium Project in Western Australia, with early assay results from the Thomas prospect confirming and extending a significant near-surface, high-grade mineralised zone.

    Initial results from the first 88 holes of a 712-hole अभियान revealed multiple thick intercepts grading above 7% TiO₂, with several intervals exceeding 10% TiO₂ and a peak value of 17.83% TiO₂. These findings further support Pitfield’s position as a large-scale and high-grade titanium system.

    Extensive Drilling Strengthens Resource Potential

    The full campaign covered 712 drill holes totalling 34,844 metres, more than doubling cumulative drilling across the project to 67,846 metres. This expanded dataset is expected to underpin updated resource estimates at the Thomas prospect and contribute to a significant resource increase at Cosgrove later this year.

    Ongoing infill and step-out drilling, combined with more than 17,000 samples currently undergoing laboratory analysis, are aimed at refining the extent of mineralisation and reducing geological uncertainty. The results are also expected to support early-stage economic assessments of the project.

    Outlook Limited by Financial Constraints

    Despite strong exploration progress, Empire Metals’ outlook remains constrained by its financial position, including a lack of revenue, ongoing losses, and continued cash burn, which increase reliance on external funding.

    Market indicators also suggest weak momentum, with the share price trading below key moving averages. While the company maintains a low-debt balance sheet, this has yet to translate into profitability.

    More About Empire Metals Limited

    Empire Metals Limited is a resource exploration and development company focused on advancing large-scale mineral projects. Its flagship asset is the Pitfield Titanium Project in Western Australia, where it is targeting extensive near-surface titanium mineralisation.

    Listed on AIM in London and trading on the OTCQX market in the United States, the company aims to establish itself as a significant participant in the global titanium supply chain through the development of its key assets.

  • Gulf Marine Services Expands Into Africa and Latin America With New Deals

    Gulf Marine Services Expands Into Africa and Latin America With New Deals

    Gulf Marine Services PLC (LSE:GMS) has secured two significant contracts that signal its entry into both African and Latin American markets, advancing its strategy to broaden its global footprint.

    The first contract involves deploying a recently acquired vessel on a firm 170-day charter, with additional optional periods, at favourable day rates. This agreement highlights the value of recent fleet investment and increases the company’s contracted backlog to approximately USD 666 million.

    New Services Line Adds Asset-Light Growth

    The second contract introduces Gulf Marine Services to third-party vessel management. Under this arrangement, the company will oversee the technical and operational management of an externally owned vessel in Africa for a one-year period.

    This move represents an asset-light expansion into new services, diversifying revenue streams while complementing its core vessel chartering business. Combined with strong charter pricing, it supports management’s decision to maintain its 2026 adjusted EBITDA guidance in the range of USD 105 million to USD 115 million.

    Outlook Reflects Strength With Some Headwinds

    The company’s outlook is supported by improving financial fundamentals, including ongoing deleveraging, consistent profitability, and generally positive free cash flow generation.

    However, these strengths are partly offset by a decline in net income during 2025 and a notable drop in free cash flow over the same period. Technical indicators remain mixed, while valuation appears moderate, limiting additional upside in the near term.

    More About Gulf Marine Services PLC

    Gulf Marine Services PLC is a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector. Founded in Abu Dhabi in 1977 and listed on the London Stock Exchange, the company operates a modern fleet of 15 vessels.

    With operational bases in the UAE, Saudi Arabia, and Qatar, it serves global clients across offshore oil and gas maintenance, well intervention, and offshore wind installation and support activities.