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Secure Trust Bank (LSE:STB) reported continued growth in lending during the first quarter, with net lending from ongoing operations increasing 1.5% compared with the previous quarter and 6.6% year on year to reach £3.35bn.

The performance was supported by strength in the Retail Finance division, particularly within furniture financing, while Business Finance lending rose 3% over the quarter following the launch of the bank’s new bridging finance product.

Customer deposits declined by 10.3% during the period, largely reflecting the disposal of the Consumer Vehicle Finance operation. Despite this reduction, the bank said recently introduced product initiatives are performing positively and reaffirmed that it remains on course to meet its guidance targets for 2026.

Secure Trust Bank also confirmed preparations for a £10m share buyback programme as it continues to target annual net lending growth of approximately 10% alongside returns on equity above 16%.

The broader investment outlook remains constrained by weaker recent financial performance, including a net loss recorded in 2025 and historically inconsistent cash flow trends. Technical indicators also remain cautious, with the shares trading below major moving averages and negative MACD momentum signalling continued pressure.

However, valuation metrics provide some support, with the stock trading on a comparatively low price-to-earnings multiple and offering a modest dividend yield, factors that may appeal to investors if profitability improves.

More about Secure Trust Bank

Secure Trust Bank is a UK-based specialist retail banking group headquartered in Solihull with more than seven decades of operating history. The company focuses primarily on Business Finance and Retail Finance services, with the latter operating through its V12 brand. Its business model is supported by a diversified lending portfolio and a substantial customer deposit base.

Touchstone (LSE:TXP) recorded average production of 4,657 barrels of oil equivalent per day during the first quarter of 2026, representing an 8% increase compared with the same period a year earlier. Growth from the company’s Central field helped offset declining production from older assets within its portfolio.

Improved commodity pricing also supported performance during the quarter, with stronger crude oil and natural gas prices driving sales revenue to $12.5 million. Operating netbacks increased to $13.73 per boe, reflecting improved cash generation across the business.

The company continued to direct investment toward development activities, including compression infrastructure at the Cascadura project and drilling work on the new WD-8 oil wells. However, despite the operational improvements, Touchstone reported a net loss of $2.4 million for the quarter and ended the period with net debt totalling $76.1 million.

Management also highlighted material uncertainty surrounding the company’s ability to continue as a going concern while it works through a broader recapitalisation strategy. Current efforts include discussions around debt restructuring, recovery of outstanding tax balances and potential equity-related financing initiatives intended to strengthen liquidity and support ongoing development plans.

More about Touchstone Exploration Inc.

Touchstone Exploration Inc. is an oil and gas producer headquartered in Calgary with operations focused on Trinidad and Tobago. The company develops crude oil, natural gas and natural gas liquids assets, combining mature legacy oil production with newer gas-focused projects such as the Central field and Cascadura facility, positioning it as an emerging upstream operator in the Caribbean energy sector.

Amigo Resources PLC (LSE:AMGO) has obtained two Processing Licences in Tanzania covering its Kabete Mines and Mojimoto projects, establishing the regulatory basis for the development of modular mineral processing hubs.

The licences are expected to support a broad range of activities including exploration programmes, ore aggregation, metallurgical analysis and the incorporation of artisanal and small-scale mining operations into a more structured processing network.

Through this approach, Amigo Resources aims to develop a scalable and centralised processing platform within Tanzania, broadening its position beyond mineral exploration into specialist processing for both traditional and technically challenging gold and polymetallic deposits. The strategy is also designed to strengthen the company’s operational presence in the Lake Victoria Goldfield while expanding its exposure across the wider African mining industry.

The group’s overall investment profile continues to be affected by weak financial fundamentals, particularly a sharp decline in revenue and substantial cash outflows recorded during 2025. Valuation metrics also remain under pressure due to ongoing losses and the absence of positive earnings.

From a market perspective, technical indicators continue to show solid momentum in the share price, although elevated RSI levels suggest the stock may currently be in overbought territory, increasing the possibility of short-term volatility.

More about Amigo Resources PLC

Amigo Resources PLC is a mining development company listed in London with a focus on gold and rare earth opportunities across Africa, particularly in Tanzania and Mauritania. The business is increasingly positioning itself as both an exploration-focused operator and a specialist mineral processing and beneficiation company targeting complex gold and polymetallic mineral systems.

TheraCryf (LSE:TCF) has announced encouraging topline toxicology findings for its lead Orexin-1 receptor blocker under development for addiction treatment. Initial dosing studies in the first animal species demonstrated the candidate was well tolerated at exposure levels up to 100 times higher than the projected therapeutic dose for humans.

The biotechnology group also reported significant progress in manufacturing, successfully scaling production to more than 2kg of clinical-grade material. In addition, the company has submitted a manufacturing-related patent application that could provide intellectual property protection through to 2046.

TheraCryf said its clinical trial-enabling programme continues to move ahead of schedule, with the remaining preclinical activities expected to conclude by the end of the third quarter of 2026. The company is targeting submission of a Phase 1 clinical trial application later that year.

Management highlighted the strategic importance of reaching Phase 1 development, describing it as a key valuation milestone in the global substance use disorder market, estimated to exceed $70bn. The company also pointed to continued deal activity across the neuroscience sector and revealed it had already rejected at least one approach that it believed undervalued the business, while discussions with additional potential partners remain ongoing.

Despite the operational momentum, the company’s investment case continues to be weighed down by weak financial metrics, including ongoing losses and cash outflows, even though the balance sheet remains free of debt. Market technical indicators remain broadly constructive due to share price performance relative to moving averages, although an elevated RSI suggests the stock may face short-term pressure after becoming overbought. Valuation metrics are also limited by the absence of profitability and dividend support.

More about TheraCryf plc

TheraCryf plc is a UK biotechnology company focused on developing therapies targeting addiction and other central nervous system disorders. Its primary programme centres on a novel Orexin-1 receptor antagonist aimed at treating conditions such as binge eating disorder, alcohol dependence, and substance abuse. The company is also advancing earlier-stage research programmes focused on fatigue linked to brain disorders and glioblastoma.

U.S. stock futures traded unevenly on Wednesday morning as investors weighed strength in major technology names against fresh inflation data that heightened concerns over interest rates and rising costs.

Nasdaq-linked futures outperformed ahead of the open, supported by gains in chipmakers, while sentiment across the broader market remained more cautious.

Nvidia helps lift semiconductor shares

Technology stocks appeared poised to lead early market gains, with Nvidia (NASDAQ:NVDA) climbing 1.6% in premarket trading.

The move followed confirmation that Nvidia CEO Jensen Huang would accompany U.S. President Donald Trump during his visit to China for talks with Chinese President Xi Jinping.

Reports indicated Huang was added to the delegation shortly before departure, boosting optimism across the semiconductor industry before trading began.

Producer inflation exceeds forecasts

Outside of technology, investor enthusiasm was more restrained after new U.S. inflation figures came in stronger than anticipated.

Data released by the United States Department of Labor showed producer prices for final demand rose 1.4% in April, following an upwardly revised 0.7% increase in March.

Economists had forecast a monthly rise of 0.5%.

The report also revealed that annual producer inflation accelerated to 6.0% from 4.3%, surpassing expectations for a 4.9% reading.

Wall Street recovered from sharp early declines on Tuesday

U.S. equities regained momentum during Tuesday’s session after suffering steep losses earlier in the day.

The Nasdaq, heavily weighted toward technology companies, recovered after falling as much as 2%, although it still ended down 185.92 points, or 0.7%, at 26,088.20.

The S&P 500 fell 11.88 points, or 0.2%, to 7,400.96, while the Dow Jones Industrial Average rose 56.09 points, or 0.1%, to finish at 49,760.56.

Oil prices remain elevated amid Iran uncertainty

Rising crude prices contributed to Tuesday’s early market weakness, with U.S. oil futures surging more than 4% and climbing back above the $100-per-barrel threshold.

Energy markets continued reacting to uncertainty surrounding negotiations between Washington and Tehran aimed at ending the conflict and reopening the Strait of Hormuz.

Trump said Monday that the U.S.-Iran ceasefire was on “life support,” describing the truce as “unbelievably weak.”

Inflation concerns continue to weigh on investors

Investor sentiment was also pressured by consumer inflation data released earlier in the week, which showed the sharpest annual increase in consumer prices since May 2023.

Consumer inflation accelerated to 3.8% in April from 3.3% in March, largely due to rising energy costs.

Even so, equities recovered some ground later in Tuesday’s trading session as investors remained encouraged by strong corporate earnings results.

“Given that inflation is heading in the wrong direction and the labor market is holding up, it’s very unlikely that the Fed will be able to lower interest rates any time soon and it’s possible that we may start pricing in rate hikes for next year,” said Chris Zaccarelli of Northlight Asset Management.

He added, “We don’t believe the market needs rate cuts to keep climbing, but earnings will need to keep doing a lot of the heavy lifting as multiple expansion isn’t in the cards right now.”

Tech and airline stocks lagged in prior session

Semiconductor and computer hardware shares posted some of the biggest declines during Tuesday’s session, putting pressure on the Nasdaq.

The NYSE Arca Computer Hardware Index dropped 3.6%, while the Philadelphia Semiconductor Index slid 3%.

Airline stocks also weakened notably, with the NYSE Arca Airline Index falling 2%.

Networking, software and steel shares also moved lower, while oil service companies benefited from higher crude prices, pushing the Philadelphia Oil Service Index up 2.2%.

Meanwhile, healthcare, biotechnology and pharmaceutical stocks outperformed and helped cushion broader market declines.

Shares in Eutelsat Communications (LSE:ETL) moved lower on Wednesday after the satellite operator posted a decline in third-quarter revenue, with ongoing weakness in its Video division outweighing continued expansion across its Connectivity activities.

Group revenue for the quarter ended March 31, 2026 came in at €293 million, compared with €299.8 million in the same period a year earlier, representing a reported decline of 2.3%. On a like-for-like basis, however, revenue increased by 3.1%.

Revenue generated by the company’s four core operating segments — Video, Government Services, Mobile Connectivity and Fixed Connectivity — declined 5.6% on a reported basis to €283.7 million, although it recorded like-for-like growth of 0.9%.

Video segment hit by Russian sanctions and satellite contract losses

Revenue from the Video business, which represented 45% of total group revenue, fell to €128.0 million from €151.7 million a year earlier. The decline was largely linked to sanctions affecting Russian television channels and the end of capacity agreements tied to the Express AT1 and AT2 satellites.

The company said sanctions affecting Russian channels had an annualised impact of around €16 million, while the termination of Express satellite contracts is expected to create an additional low single-digit million euro impact during fiscal 2025-26 beginning in March 2026.

Connectivity business continues to expand

Connectivity revenue rose to €155.7 million from €148.9 million and accounted for 55% of total group revenue during the quarter.

Within the division, Low Earth Orbit (LEO) revenue increased 65.0% on a like-for-like basis to €62.2 million from €42.3 million a year earlier. By contrast, Geostationary revenue declined 4.3% to €93.5 million from €106.7 million.

Government Services revenue climbed 11.8% on a like-for-like basis to €50.4 million, while Mobile Connectivity revenue advanced 27.0% to €45.0 million.

Fixed Connectivity revenue rose 10.6% on a like-for-like basis to €60.3 million. However, the company noted that revenue in the segment fell 12.9% compared with the previous quarter because of one-off upfront revenue recognition linked to a capacity contract recorded during the second quarter.

Other revenue and backlog remain supportive

Other revenue totaled €9.4 million, compared with negative €0.7 million in the prior-year period, supported by revenue recognition related to the IRIS2 programme as well as a positive hedging impact of €0.3 million.

For the first nine months of fiscal 2025-26, total revenue decreased 2.4% on a reported basis to €884.7 million, although it increased 1.1% at constant currency rates. Over the same period, LEO revenue rose 61.6% on a like-for-like basis to €172.7 million.

At March 31, 2026, Eutelsat’s contract backlog stood at €3.4 billion, equivalent to 2.8 times fiscal 2024-25 revenue, with Connectivity accounting for 58% of the total backlog.

Financing completed as company maintains guidance

Eutelsat said it completed a €1.50 billion senior notes offering on March 5, representing the final phase of an approximately €5 billion combined equity and debt financing programme.

The group expects net debt-to-EBITDA to stand at around 2.7 times by the end of fiscal 2025-26.

The company also reaffirmed its guidance for fiscal 2025-26, including expectations for operating vertical revenue to remain broadly in line with fiscal 2024-25 levels, LEO revenue growth of 50% year-on-year and an adjusted EBITDA margin slightly below the prior-year figure. Gross capital expenditure is forecast at approximately €900 million.

Eutelsat further reiterated its medium-term targets for fiscal 2028-29, including operating vertical revenue between €1.50 billion and €1.70 billion and an EBITDA margin of at least 65%, based on an assumed euro-to-dollar exchange rate of 1.12.

Oil prices moved lower on Wednesday, pulling back after three consecutive sessions of gains as markets weighed uncertainty surrounding the fragile situation in the Middle East and awaited high-level talks between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Brent crude futures fell $1.47, or 1.4%, to $106.30 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude declined $1.41, or 1.4%, to $100.77 per barrel.

Both benchmarks have traded near or above $100 a barrel since the United States and Israel launched military operations against Iran in late February and Tehran effectively closed the Strait of Hormuz.

Supply disruption fears continue to underpin prices

Despite Wednesday’s decline, concerns over energy supply disruptions continued to provide support to the oil market.

“Concerns over supply disruptions and uncertainty surrounding the Middle East are keeping oil prices well supported, even as traders struggle to establish a clear direction,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

“The market remains highly reactive to every update from the region, meaning sharp swings are likely to persist. Any further escalation or direct threat to supply flows could quickly revive strong upside momentum in both Brent and WTI,” added Sachdeva.

Oil had surged more than 3% on Tuesday after hopes for a lasting ceasefire agreement between the United States and Iran weakened further, reducing expectations that the Strait of Hormuz would reopen in the near future. Around 20% of global oil and liquefied natural gas shipments normally pass through the strategic route.

Trump says China’s help on Iran may not be needed

Trump said Tuesday that he did not expect to require China’s assistance to end the conflict with Iran, even as the likelihood of a long-term peace agreement appeared to diminish and Tehran tightened its control over the Strait of Hormuz.

China remains the largest purchaser of Iranian crude despite sanctions imposed by Washington. Trump is scheduled to meet Xi Jinping in Beijing on Thursday and Friday.

Analysts at Eurasia Group said in a research note: “The length of the disruption and the scale of the supply loss – already more than 1 billion barrels – means oil prices are likely to remain above $80 per barrel for the rest of the year.”

Rising fuel costs increase pressure on the U.S. economy

The conflict involving Iran is increasingly affecting the U.S. economy as elevated crude prices push fuel costs higher for households and businesses. Economists also expect broader knock-on effects to emerge in the coming months.

Inflation figures released in April showed U.S. consumer prices rose sharply for a second straight month, resulting in the strongest annual inflation increase in nearly three years. The data reinforced expectations that the Federal Reserve could keep interest rates elevated for longer.

“The marked increase in inflation across advanced economies has yet to cause real spending to contract, but the widespread decline in consumer sentiment and hiring intentions points to worse to come,” analysts at Capital Economics wrote in a note to clients.

Higher interest rates typically increase borrowing costs, which can slow economic growth and weaken oil demand.

U.S. oil inventories extend decline

Meanwhile, U.S. crude stockpiles declined for a fourth consecutive week last week, while distillate inventories also moved lower, according to market sources citing figures from the American Petroleum Institute.