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Oil prices continued to rise in Asian trading on Thursday, supported by a sharper-than-anticipated drop in U.S. crude inventories, as traders assessed supply dynamics in light of potential developments in Russia-Ukraine diplomacy.

By 21:52 ET (01:52 GMT), Brent crude futures for October delivery were up 0.5% at $67.20 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.6% to $63.11 per barrel.

U.S. inventories decline sharply

Crude contracts jumped nearly 2% on Wednesday following the U.S. Energy Information Administration’s (EIA) weekly report, which revealed a much steeper reduction in stockpiles than analysts had expected. U.S. crude inventories dropped by roughly 6 million barrels, well above forecasts of a 1.8 million-barrel decrease.

The decline reflected both strong export activity and continued refinery operations, pointing to tighter supply alongside sustained demand. Gasoline inventories also fell by 2.7 million barrels, surpassing expectations and signaling robust summer driving demand. Refinery utilization edged up to 96.6%, indicating active processing levels.

Market participants interpreted the large inventory draw and strong product demand as evidence that U.S. fuel consumption remains resilient, helping to offset lingering concerns about global economic uncertainty. Earlier this week, the American Petroleum Institute reported a 2.4 million-barrel decrease in U.S. crude stocks for the week ending August 15.

Eyes on potential Russia-Ukraine negotiations

Traders are also closely monitoring possible diplomatic developments between Russia and Ukraine. President Donald Trump stated that he had spoken with Russian President Vladimir Putin after meeting Ukrainian President Volodymyr Zelenskiy and European leaders at the White House earlier in the week.

Trump indicated he was working to facilitate a direct meeting between Moscow and Kyiv, potentially followed by a trilateral summit including the United States. Markets are watching for any signals that such talks could lead to a relaxation of Western sanctions on Russian crude exports.

Russia remains a key global oil supplier, though Western sanctions have limited the flow of Russian crude to international markets since the start of the Ukraine conflict.

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 equities remained largely flat Thursday as investors prepared for the start of the highly anticipated Jackson Hole symposium and awaited regional economic data.

By 07:40 GMT, Germany’s DAX inched up 0.1%, the U.K.’s FTSE 100 added 0.1%, while France’s CAC 40 slipped 0.2%.

Market Eyes Jackson Hole Symposium

The annual Jackson Hole meeting in Wyoming, organized by the U.S. Federal Reserve, begins later Thursday. Central bankers from across the globe will convene to discuss monetary policy, with market participants especially focused on Friday’s speech by Fed Chair Jerome Powell—his final address at the event. Investors hope to glean clues on a potential rate cut in September following softer-than-expected U.S. payroll data earlier this month.

Powell will not be the only key speaker. ECB President Christine Lagarde and Bank of England Governor Andrew Bailey are also slated for panel discussions. Market-implied probabilities for a 25-basis-point Fed rate cut on September 17 currently stand at 80%, slightly down from 84% the previous day, yet still widely anticipated.

Flash PMIs Highlight Eurozone Activity

Economic data for the eurozone will also draw attention, with preliminary August purchasing managers’ index (PMI) readings scheduled for release across several countries, including Germany and the U.K.

France’s flash figures, released earlier, signaled a near return to growth in business activity for the first time in a year. The HCOB France flash services PMI, compiled by S&P Global, rose to 49.7 in August—the highest since August 2024 and close to the 50-mark separating growth from contraction. Meanwhile, the manufacturing PMI advanced to 49.9, a 31-month high, up from 48.2 in July. The composite PMI, which combines services and manufacturing, reached 49.8, up from 48.6 the previous month, suggesting tentative stabilization in the eurozone’s second-largest economy.

Corporate Earnings Updates

Although earnings season is winding down, several corporate reports drew attention.

• WH Smith (LSE: SMWH) revised its full-year profit forecast downward after identifying an overstatement of roughly £30 million due to early recognition of supplier income in its North American division.
• Aegon (NYSE: AEG) posted a strong net profit for H1 2025, reversing a loss from a year earlier. The Dutch insurer announced it would double its share buyback program and raise its interim dividend by 19%, buoyed by growth in the U.S.
• Finnish property firm Kojamo (TG:A3K31C) recorded slightly higher revenue in Q2 2025 but saw profitability decline due to continued valuation losses on its property portfolio.
• Renishaw (LSE: RSW) projected full-year 2025 profits at the top of its guidance, easing concerns over U.S. tariffs and highlighting faster-than-expected cost savings delivery, even as its long-serving CFO prepared to step down.

Oil Prices Continue Upward Trend

Crude prices rose Thursday, extending recent gains on the back of strong demand indicators in the U.S., the world’s largest energy consumer.

At 03:40 ET, Brent futures climbed 0.8% to $67.37 per barrel, while WTI crude advanced 1% to $63.33 per barrel. Both contracts had gained more than 1% in the previous session.

The U.S. Energy Information Administration reported a 6 million-barrel decline in crude inventories last week, alongside a 2.7 million-barrel drop in gasoline stocks, surpassing expectations. This suggests robust summer driving demand, helping offset some concerns over global economic uncertainty.

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 largely flat Thursday as traders awaited the Federal Reserve’s Jackson Hole symposium and upcoming labor market data. Meanwhile, Walmart’s quarterly earnings release is attracting attention as a measure of U.S. consumer strength.

Fed’s Jackson Hole Symposium Begins

The Federal Reserve’s annual Jackson Hole meeting kicks off later Thursday in Wyoming, drawing central bankers from across the globe to discuss monetary policy.

All eyes will be on Fed Chair Jerome Powell’s Friday speech—his final appearance at the event as chairman. Investors hope for insights on a possible September rate cut after recent payroll data came in weaker than anticipated.

“Powell’s reaction function to recent stagflationary data will be key,” said analysts at Bank of America, in a note. “Will he be spooked by jobs revisions or lean into the labor supply slowdown?”

Market expectations currently price in an 80% chance of a 25-basis-point cut on September 17, down slightly from 84% a day earlier. Powell may also seek to shape the narrative of his legacy, particularly in light of criticism from former President Donald Trump over the Fed’s reluctance to reduce rates this year. Trump’s influence on monetary policy has been a growing concern for markets.

Futures Hold Steady Ahead of Jobs Data

Ahead of key labor releases and the symposium, U.S. futures traded in narrow ranges. By 03:00 ET, S&P 500 futures were down 1 point (0.1%), Nasdaq 100 futures were up 12 points (0.1%), and Dow futures gained 50 points (0.1%).

Major indices finished mixed on Wednesday, with the Dow eking out a small gain, while the S&P 500 and Nasdaq Composite fell. The S&P’s four-day losing streak highlights the pressure from tech stocks.

Minutes from the Fed’s July 29–30 meeting showed most officials favor maintaining current rates. “Almost all participants viewed it as appropriate to maintain the target range for the federal funds rate at 4.25% to 4.50% at this meeting,” the minutes stated.

Investors are also watching weekly jobless claims, July existing home sales, and the Philadelphia Fed business index, all due later Thursday.

Walmart’s Q2 Results Under the Microscope

Walmart (NYSE:WMT), the world’s largest retailer by revenue, reports its second-quarter earnings Thursday morning, providing insight into consumer trends. Analysts expect earnings of 74 cents per share, up nearly 11% year-on-year, and revenue of $176.16 billion, a 4% rise.

While Walmart missed sales estimates last quarter, July retail data have supported confidence in spending trends. Its low-cost strategy and grocery dominance help shield it from economic uncertainty. According to LSEG data, Walmart has beaten estimates for 11 consecutive quarters, even as other consumer staples firms struggle.

Still, management may adopt a cautious tone due to softening labor markets, rising inflation, and potential impacts from Trump-era tariffs.

This week, other big-box retailers have also reported earnings. Home Depot (NYSE:HD) kicked off the week on Tuesday, while Target (NYSE:TGT) declined Wednesday after naming Michael Fiddelke as CEO and maintaining previously lowered annual guidance.

Meta Halts AI Recruitment

Meta Platforms (NASDAQ:META) confirmed late Thursday a Wall Street Journal report that it has paused hiring for its AI division, temporarily slowing the tech giant’s heavy AI recruitment and spending.

A Meta spokesperson explained that the pause is “some basic organizational planning: creating a solid structure for our new superintelligence efforts after bringing people on board and undertaking yearly budgeting and planning exercises.”

Meta is part of Wall Street’s “AI Hyperscalers,” investing heavily in AI research and data center capacity, with projected spending of up to $72 billion this year. Investors are increasingly concerned that elevated costs and stock-based compensation could affect overall returns. An MIT report released this week noted that 95% of AI ventures remain unprofitable, reinforcing doubts about large-scale AI investments.

Crude Prices Climb on Strong U.S. Demand

Oil prices rose Thursday, extending recent gains as U.S. demand remains robust. By 03:00 ET, Brent futures increased 0.3% to $67.30 per barrel, while West Texas Intermediate climbed 0.8% to $63.22 per barrel. Both contracts had gained more than 1% in the previous session.

The U.S. Energy Information Administration reported last week’s crude inventories fell by 6 million barrels, while gasoline stocks dropped by 2.7 million barrels, signaling steady summer driving demand.

Traders are also monitoring Ukraine peace negotiations. Any resolution could push oil prices lower, though ongoing delays and the persistence of Western sanctions on Russian crude continue to support the market, along with the threat of additional tariffs.

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.

Wishbone Gold Plc (LSE:WSBN) has extended drilling at its Red Setter Gold Dome Project in Western Australia, uncovering a substantial breccia pipe interval. The latest drilling reached 777 meters, revealing a 152-meter breccia pipe within a broader 257-meter zone of quartz-carbonate veining and sulphide mineralization. The company plans to deepen the drilling further and test the breccia pipe toward the system’s center, signaling strong exploration potential and possible resource growth. These developments are expected to bolster Wishbone’s operational capabilities and reinforce its position in the gold exploration sector.

About Wishbone Gold

Wishbone Gold Plc focuses on gold exploration and development in Western Australia. The company aims to expand its resource base through strategic drilling programs and targeted project advancement, with a focus on high-potential gold deposits.

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 (LSE:SEE) has reported a 69% increase in the number of vehicles equipped with its monitoring technology, now exceeding 3.7 million units, as it prepares for the EU’s 2026 General Safety Regulation deadline. The company expects to move toward profitability driven by rising automotive royalties, an expanding Guardian pipeline, and ongoing cost management initiatives. Notable developments include a strategic partnership with Mitsubishi Electric Mobility Corporation, securing a £26.2 million investment, along with new referral agreements across the Americas and Europe. While an EBITDA loss is projected, the company’s financial performance improved in the second half of FY2025, and it targets a cashflow break-even run rate by year-end.

About Seeing Machines

Seeing Machines Limited, established in 2000 and based in Australia, is a global leader in vision-based monitoring solutions that enhance transport safety. The company develops AI-powered operator monitoring systems for automotive, commercial fleet, off-road, and aviation sectors. Its technology integrates AI algorithms and embedded processing to provide real-time insights into vehicle operators’ cognitive states, aiming to reduce accident risks. Seeing Machines maintains a global presence with offices in Australia, the USA, Europe, and Asia.

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.

Premier African Minerals Limited (LSE:PREM) has successfully raised £1.38 million through the issuance of new ordinary shares to support its Zulu Lithium and Tantalum Project. The capital will be allocated to optimizing the Primary Flotation Plant, exploring the potential development of an alternative spodumene float plant, covering certain operating expenses, and strengthening general working capital. This fundraising, completed at a premium to prior rounds, reflects investor confidence in the company’s progress and is expected to bolster both financial stability and project development.

About Premier African Minerals

Premier African Minerals Limited is a multi-commodity mining and natural resource company focused on Southern Africa. Its portfolio includes projects such as RHA Tungsten and Zulu Lithium in Zimbabwe, with interests spanning tungsten, rare earth elements, lithium, tantalum, and gold. The company operates a mix of brownfield projects with near-term production potential and grassroots exploration initiatives in Zimbabwe and Mozambique.

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.

Versarien plc (LSE:VRS) has encountered a regulatory obstacle in its proposed joint venture with China’s Anhui Boundary Innovative Materials Technology. The UK government has blocked the acquisition and use of Versarien’s assets by the joint venture, citing security concerns related to the dual-use potential of graphene. The partnership had aimed to import materials for electric vehicle technologies and other applications, but its future now hinges on obtaining further regulatory approvals.

The company faces a challenging outlook, weighed down by financial instability, negative valuation metrics, and bearish technical signals. While Versarien has pursued restructuring efforts and strategic initiatives, the risk of administration and potential trading suspension make it a high-risk investment.

About Versarien

Versarien plc is an advanced materials engineering group specializing in the development and commercialization of innovative materials, particularly graphene. The company focuses on industries such as automotive, seeking to enhance products through nanomaterial technologies.

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.

WH Smith PLC (LSE:SMWH) has revised its North America division profit expectations after identifying a £30 million overstatement in previously projected Headline trading profit, largely due to accelerated supplier income recognition. The company now expects North American Headline trading profit to reach £25 million, down from the earlier £55 million projection, with full-year Headline profit before tax anticipated at around £110 million. Deloitte has been appointed to conduct an independent review, with further updates expected at the preliminary results announcement.

While WH Smith benefits from solid financial performance and positive corporate developments—including strategic divestitures and share buybacks—valuation concerns remain due to a high P/E ratio. Technical indicators suggest neutral market sentiment in the near term.

About WH Smith

WH Smith PLC is an international travel retailer specializing in books, stationery, and convenience products, primarily operating at airports, train stations, and other travel hubs.

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.

Hays plc (LSE:HAS) reported a difficult financial year ending June 2025, with net fees and profits declining amid economic and political uncertainty that affected client and candidate confidence. Despite these headwinds, the company achieved strategic progress by enhancing resource allocation, improving consultant productivity, implementing structural cost savings, and maintaining strong cash flow. Hays plans to continue focusing on efficiency measures, targeting additional cost reductions by FY29, positioning itself for growth when market conditions stabilize.

The company faces ongoing financial pressures, including declining revenues and profits, reflected in low valuation metrics. Technical indicators show negative momentum, and while strategic initiatives—such as appointing BNP Paribas as a Joint Corporate Broker—are positive, they are insufficient to fully counter current market challenges.

About Hays plc

Hays plc is a global recruitment firm employing around 9,500 people across 207 offices in 31 countries. The company operates across 21 professional and skilled specialisms, with its largest sectors being Technology, Accountancy & Finance, Engineering, and Construction & Property, which together generate 62% of net fees. Hays’ diversified business model includes 62% of net fees from Temp & Contracting and 38% from Permanent placements, with international operations contributing 80% of net fees in FY25.

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.

Renishaw plc (LSE:RSW) has announced the retirement of long-serving Group Finance Director Allen Roberts, who steps down after 46 years with the company. Roberts’ tenure has been instrumental in shaping Renishaw’s financial strategy and expanding its international presence. The company is now recruiting a new Chief Financial Officer. Renishaw also provided a trading update, projecting full-year 2025 revenue between £700 million and £720 million, with adjusted pre-tax profits expected toward the higher end of the £109 million to £127 million range.

The company benefits from a strong financial position and strategic initiatives, supporting robust stock performance. Some challenges remain, including reduced net profit margins and a limited dividend yield.

About Renishaw plc

Renishaw plc is a global leader in manufacturing technologies, analytical instruments, and medical devices. Known for its focus on innovation, the company has built a strong international presence through a diverse portfolio of products and services that serve multiple industrial and healthcare 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.