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Challenger Energy Group (LSE:CEG) has completed the sale of its Trinidad and Tobago operations to Steeldrum Ventures Group, marking a strategic step toward sharpening its focus on Uruguay. The deal, worth $1.75 million, was revised so that payment will be made in cash rather than shares. With the transaction closing, the company has also shed its liabilities in Trinidad and Tobago, positioning itself to concentrate on unlocking near-term value for shareholders through its Uruguayan ventures.

About Challenger Energy Group

Challenger Energy is an exploration and development company targeting energy opportunities along the Atlantic margin, with Uruguay at the center of its current portfolio. The firm controls two offshore exploration licenses covering roughly 19,000 square kilometers and maintains a partnership with Chevron on the AREA-OFF 1 block. Challenger Energy’s shares trade on the London Stock Exchange’s AIM market and on the OTCQB in the United States.

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.

U.S. stock futures were pointing to a weaker open on Friday, hinting at a modest pullback after a series of record-setting sessions. The S&P 500 recently pushed to fresh highs, but traders appeared cautious, using the latest economic updates as a reason to take some profits.

The Commerce Department confirmed Friday that consumer prices rose in line with forecasts. Its personal consumption expenditures (PCE) index, the Fed’s favored inflation measure, increased 0.2% in July after a 0.3% rise in June. On a yearly basis, headline inflation held steady at 2.6%. Core PCE, which strips out food and energy, gained 0.3% on the month, lifting the annual rate to 2.9% from 2.8%.

The report also showed personal income advancing 0.4% in July, while spending climbed 0.5%, both slightly stronger than the previous month’s pace. Separately, second-quarter GDP growth was revised higher to 3.3%, reflecting stronger consumer demand and business investment.

Markets were also monitoring political developments in Washington, where a court is set to hear Fed Governor Lisa Cook’s case against President Donald Trump’s effort to remove her from the central bank. The dispute has fueled concerns about the Fed’s independence.

Thursday’s Gains and Earnings Impact

On Thursday, stocks closed near session highs, with the S&P 500 logging another record close. The Nasdaq rose 115 points, or 0.5%, while the Dow added 72 points, or 0.2%. Nvidia (NASDAQ:NVDA) weighed on sentiment early after reporting softer-than-expected data center sales, but its shares recovered much of their losses, closing down just 0.8%.

Sector Movers

Technology led the market higher. The NYSE Arca Computer Hardware Index surged 4.4% to an all-time peak, boosted by a 32% jump in Pure Storage (NYSE:PSTG) after strong earnings and upbeat guidance. Networking and software stocks also advanced, while utilities and telecom names declined.

Meanwhile, labor market data showed first-time unemployment claims fell to 229,000 last week, slightly better than expected, reinforcing the picture of a resilient economy.

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.

European markets traded slightly in the red on Friday as traders weighed fresh U.S. inflation figures, seen as an important signal for whether the Federal Reserve could move forward with a rate cut in September. Earlier, data out of France showed consumer prices in August rose by less than economists had predicted.

By mid-session, the CAC 40 in Paris had slipped 0.3%, London’s FTSE 100 was down 0.2%, and Frankfurt’s DAX was off 0.1%.

Among individual movers, Hexagon AB (BIT:1HEXA) declined after the Swedish technology group announced the appointment of an interim chief financial officer.

Shares of Rémy Cointreau (EU:RCO) were also weaker even as the cognac maker adjusted its annual outlook upward, projecting a smaller earnings impact from tariffs than initially feared.

Frasers Group (LSE:FRAS), the parent company of Sports Direct, lost ground after confirming that Sir Jon Thompson will take over as chair from David Daly on September 1, 2025.

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.

Shares of JTC (LSE:JTC) jumped 15% on Friday after private equity firm Permira approached the corporate services company with a potential takeover bid. Sources cited by Bloomberg indicated that the offer values JTC at approximately £2 billion.

The U.K. Takeover Panel confirmed that the offer period for JTC began at 11:39 a.m. local time on August 29, with Permira Advisers LLP named as the prospective bidder. By takeover rules, Permira must either announce a firm intention to proceed or withdraw the offer by 5 p.m. on September 26.

Headquartered in Jersey, JTC was founded in 1987 as Jersey Trust Company and has expanded through acquisitions, including Merrill Lynch’s international trust and wealth structuring business in 2017. The company went public on the London Stock Exchange in 2018 and is currently part of the FTSE 250 Index.

JTC offers fund administration, corporate services, and private client solutions to asset managers, multinational companies, and high-net-worth individuals. In its last full fiscal year, the company posted revenue of £305.4 million, an operating income of £18.9 million, and a net loss of £7.3 million.

Permira, founded in London in 1985, manages funds with around €80 billion in committed capital and specializes in technology, consumer, healthcare, and services investments. The firm has supported over 300 companies worldwide and recently completed notable transactions, including the take-private deals for McAfee and Squarespace.

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.

Recent political unrest in France has rattled financial markets, but Barclays suggests that the worst of the shock could be behind us and investors should consider recent weakness as a buying opportunity.

Prime Minister François Bayrou faces a confidence vote on September 8, just days before crucial budget negotiations and a nationwide protest scheduled for September 10.

With both the far-right Rassemblement National and the left-wing New Popular Front expected to oppose him, Barclays analysts believe there is little chance of Bayrou’s government surviving.

“If Bayrou falls, it seems most likely that President Emmanuel Macron would appoint a new prime minister from his own camp to continue budget work,” Barclays notes.

The bank argues that this scenario would reduce political risk after recent spikes. Alternative outcomes, such as new elections or Macron resigning, would be more disruptive, though they are seen as less probable.

Political uncertainty has already affected French markets. The OAT-Bund spread widened to roughly 80 basis points from 65 earlier in the week, approaching levels last seen during the June 2024 snap election. Credit default swaps also climbed near those highs. French equities suffered, with the CAC 40 down about 3% and Barclays’ domestic basket losing roughly 7%. On a relative basis, MSCI France’s price-to-earnings ratio is once again near its lows.

Barclays highlights three potential paths:

• New prime minister: The OAT-Bund spread could narrow to around 70 basis points, supporting a modest equity rebound.
• New elections: The spread might rise to 90 basis points, potentially knocking 2% to 3% off broader indices.
• Macron resignation: The most disruptive scenario, pushing spreads to 100 basis points and sending domestic stocks sharply lower.

Sector performance shows that domestic-focused areas have been hit hardest. At the current 79-basis-point spread: banks are down 9.2%, construction and materials 8.6%, and insurers 7.6%. Utilities lost 6.3%, industrial transport 5.5%, autos and parts 2.3%, and real estate 2.6%. More defensive or internationally oriented sectors fared better, with health care up 0.2% and technology 0.6%.

Barclays estimates that if spreads narrow, banks could rebound 4.7%, autos 3.2%, and technology 2.7%.

A widening to 90 basis points would worsen losses, with banks down 5.4% and insurers 4%. At 100 basis points, the impact would be severe: banks down 10.5%, autos 7.1%, and insurers 7.7%.

Overall, domestic-focused companies remain most exposed, while exporters, particularly in luxury goods, are less vulnerable to local political shocks.

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.

U.K. stocks fell on Friday, dragged down by losses in major banking shares, while broader European indices also traded in negative territory.

At 11:33 GMT, the FTSE 100 was down 0.2%, and the British pound weakened 0.4% versus the dollar to 1.34. Germany’s DAX slipped 0.2% and France’s CAC 40 fell 0.4%.

U.K. banks under pressure after think tank proposes levy

Shares of leading U.K. banks came under pressure following a call from a think tank for a new tax on commercial lenders, highlighting billions in interest payments received from the Bank of England that could be redirected to public services.

The FTSE 350 Banks index dropped 2.3%, with Lloyds Banking Group PLC (LSE:LLOY) retreating 3.8% and Barclays PLC (LSE:BARC) sliding 3.6%. Metro Bank PLC (LSE:MTRO) lost 2.6%, NatWest Group PLC (LSE:NWG) fell 1.5%, Standard Chartered PLC (LSE:STAN) declined 1.4%, and HSBC Holdings PLC (LSE:HSBA) dropped 1.2%.

JTC shares spike amid £2 billion takeover approach

JTC PLC (LSE:JTC), the wealth management group, saw its shares jump after reports that private equity firm Permira Advisors is considering an acquisition. Permira has made a proposal valuing JTC at approximately £2 billion and confirmed it has approached the company about a potential cash offer. The deadline for submitting a firm bid is September 26.

Frasers Group leadership change

In corporate news, Frasers Group PLC (LSE:FRAS) announced that chairman David Daly will step down after eight years on the board. Sir Jon Thompson will take over as chair on September 1, with Daly formally leaving the board at the company’s annual general meeting on September 24, 2025.

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.

The U.S. dollar nudged higher on Friday as markets awaited key inflation figures, though the currency is on track for a monthly decline amid growing bets on a U.S. rate cut.

At 05:20 ET (09:20 GMT), the Dollar Index, which measures the greenback against a basket of six other currencies, was up 0.1% at 97.815, but still poised for a 1.8% drop for the month. The index has fallen almost 10% this year as volatile U.S. trade policies have driven investors toward alternative assets.

PCE data takes center stage

The dollar traded in a narrow range ahead of the personal consumption expenditures (PCE) price index, the Fed’s preferred inflation measure, scheduled for release later in the session.

Expectations are that core PCE held steady at 0.3% month-on-month, keeping the annual rate at 2.9%.

“A slightly higher print could prompt a modest positive dollar reaction, but the bar for a rethink of the strong call for a September cut is high following Powell’s dovish remarks at Jackson Hole,” analysts at ING said in a note.

There is also the possibility the data could show further evidence of U.S. President Donald Trump’s broad tariffs affecting consumer prices, following recent upside surprises in producer inflation.

The Federal Reserve cut its policy rate by a full percentage point last year but has kept rates steady this year, much to Trump’s frustration.

The dollar has struggled this week following Trump’s attempt to remove Fed Governor Lisa Cook over alleged mortgage fraud, sparking concerns about political influence on monetary policy. Cook filed a lawsuit on Thursday claiming that Trump has no authority to remove her, setting the stage for a legal battle that could challenge long-standing norms on the Fed’s independence.

“While markets remain reluctant to speculate on this Fed story and continue to focus on data-driven short-term developments, the downside risks for the dollar have undoubtedly grown,” ING added.

European inflation data in focus

In Europe, EUR/USD fell 0.1% to 1.1693 after French consumer prices rose slightly less than expected in August, with the harmonized inflation rate at +0.8% year-on-year, down from +0.9% in July. Spain’s EU-harmonized 12-month inflation held at 2.7% in August, and Germany’s equivalent figures are due later, ahead of the flash August reading for the eurozone next Tuesday.

The ECB left its main rate at 2% in July, and recent data confirms the eurozone economy remains stable with inflation near the ECB’s 2% target.

Additionally, “the European Central Bank’s July minutes showed the Governing Council isn’t as concerned about the euro’s strength as some had speculated, but multiple members did point to downside risks to inflation and that, in our view, still suggests market pricing for year-end (-10bp) is too hawkish,” said ING.

GBP/USD slipped 0.3% to 1.3475.

Calm trading in Asia

In Asia, USD/JPY rose 0.1% to 147.01 after data showed Tokyo’s consumer inflation eased in August as expected, but persistent underlying price pressures kept rate hike bets alive for the Bank of Japan.

Other figures revealed Japan’s factory output fell more than expected in July amid tariff headwinds, while retail sales disappointed.

USD/CNY gained 0.1% to 7.1325, and AUD/USD edged up 0.1% to 0.6535.

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.

Shares in British banks fell Friday after a leading centre-left think tank suggested the government introduce a new levy on commercial lenders, citing billions in interest payments from the Bank of England (BoE) that could otherwise fund public services.

The FTSE 350 Banks index was down 2.3% as of 08:00 GMT. Lloyds Banking Group (LSE:LLOY) led the decline, sliding 3.8%, followed by Barclays (LSE:BARC) with a 3.6% drop. Metro Bank (LSE:MTRO) fell 2.6%, NatWest Group (LSE:NWG) 1.5%, Standard Chartered PLC (LSE:STAN) 1.4%, and HSBC (LSE:HSBA) 1.2%.

The Institute for Public Policy Research (IPPR) estimated that roughly £22 billion ($29.7 billion) annually flows to banks via the BoE’s quantitative easing programme. Originally designed to stabilise the economy during the financial crisis, the programme now provides substantial interest income for lenders amid higher rates.

“What started as a programme to boost the economy is now a massive drain on taxpayer money,” said Carsten Jung, associate director for economic policy at the IPPR. “Public money is flowing straight into commercial banks’ coffers because of a flawed policy design.”

The think tank argued that taxing these payments would give finance minister Rachel Reeves additional fiscal room, as she faces pressure to tighten government finances. Reeves is expected to announce further tax measures in the autumn budget, following last year’s employer levy increases, amid concerns her fiscal targets may slip.

British banks hold significant deposits at the BoE, much of which was created through the central bank’s bond-buying programmes. The BoE pays its policy rate on these balances, generating windfalls for banks under the current higher interest rate environment. Any losses to the central bank are ultimately covered by the Treasury, and thus by taxpayers.

Governor Andrew Bailey has defended the policy, arguing it is crucial to ensure official rate changes pass through to households and businesses. In June, he dismissed renewed criticism of the BoE’s bond activities, which politicians such as Reform UK’s Nigel Farage have labelled excessively costly.

Earlier this year, Bailey and Reeves discussed a possible revised system for reserve provision, which could allow the BoE to earn income and offset some QE-related losses. The IPPR’s proposal echoes previous suggestions, including 2022 comments from former deputy governor Paul Tucker, who recommended that ministers reassess the policy of paying interest on bank reserves.

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.

Frasers Group Plc (LSE:FRAS) announced on Friday that David Daly will step down as chair after serving on the board for eight years. He will be succeeded by Sir Jon Thompson, effective September 1.

The company confirmed that Daly will officially leave the board at the annual general meeting on September 24, 2025.

Sir Jon Thompson joined Frasers Group in June 2024 as a non-executive director. The company highlighted his extensive experience in corporate governance and managing large-scale projects.

Frasers also indicated plans to appoint Andy Lyon as a non-executive director, with a second non-executive appointment expected to be announced later. These changes will replace Daly, Ger Wright, and Helen Wright, all of whom are not standing for re-election at the AGM.

Lyon, formerly a senior audit partner at PwC, previously oversaw audits for Next and its credit operations. Frasers noted that his expertise in finance and governance will be instrumental in supporting the growth of Frasers Plus.

During his 24-year tenure at PwC, Lyon focused on the retail and consumer sectors, leading audits for several major global retailers, including department stores and fashion brands. He also served as senior partner for PwC’s East Midlands office, was a member of the Midlands leadership team, and contributed to PwC’s retail and consumer leadership team with responsibility for regional operations.

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.

European equity markets edged lower on Friday as investors processed recent consumer price figures from major regional economies, ahead of the U.S. Federal Reserve’s preferred inflation indicator.

At 08:10 GMT, Germany’s DAX fell 0.6%, France’s CAC 40 slipped 0.7%, and the U.K.’s FTSE 100 declined 0.4%.

Inflation in Europe and the U.S. Takes Center Stage

Earlier Friday, data showed that French consumer prices rose slightly less than expected in August, with the harmonized inflation rate registering +0.8% year-on-year, down from +0.9% in July. Spain’s EU-harmonized 12-month inflation held steady at 2.7% in August. Germany’s inflation figures are due later in the session, ahead of the eurozone’s flash August reading next Tuesday.

The European Central Bank maintained its key interest rate at 2% during the July meeting, and subsequent data has indicated that the eurozone economy remains resilient while inflation hovers near the ECB’s 2% target. Policymakers are widely expected to keep rates unchanged again in September, although July meeting minutes revealed differing views on the likely trajectory of inflation.

Later in the day, attention turns to the U.S. personal consumption expenditures (PCE) report, the Fed’s preferred inflation gauge, which could provide insight into the impact of recent U.S. tariffs on consumer prices.

Corporate Updates

In Europe, Rémy Cointreau (EU:RCO) raised the lower bound of its annual guidance after the U.S. and EU agreed to halve planned tariffs on European wines and spirits, relieving pressure on the French cognac producer. The updated trade deal, effective August 1, cut tariffs to 15% from the initially proposed 30%.

Norwegian builder Af Gruppen (TG:AF8) reported a strong jump in second-quarter profits for 2025, while Swedish property firm Sagax (TG:A2876m) acquired a 10.8% stake in Belgium-based Retail Estates (EU:RET).

Oil Prices Slip but Set for Weekly Gains

Oil futures eased slightly but remain poised for weekly gains, as traders weigh uncertainty over Russian supply alongside the approach of the U.S. summer driving season’s end.

At 04:10 ET, Brent crude fell 0.5% to $67.66 a barrel, and West Texas Intermediate (WTI) futures declined 0.5% to $64.30 a barrel. Both contracts are on track for weekly gains of just under 1%, following disruptions from Ukrainian attacks on Russian export terminals and ongoing uncertainty over peace negotiations between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky.

However, the approaching Labor Day holiday and the end of peak U.S. summer driving demand have pressured prices. On a monthly basis, both Brent and WTI remain down over 6%, weighed by steady production increases from OPEC members.

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.