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Public Policy Holding Company, Inc. (LSE:PPHC), a Washington, D.C.-based government relations and strategic communications firm, reported record adjusted EBITDA of $45.4 million for 2025 on revenue of $186.5 million. Growth was supported by 6.2% organic expansion and strong demand across its corporate communications and compliance advisory services. The company also continued to broaden its client base, now serving around 1,400 organisations, including roughly half of the Fortune 100, with an increasing number of large-spending clients highlighting the scale and diversification of its platform.

Although the group recorded a wider GAAP net loss of $39 million for the year, it delivered solid cash generation and improved adjusted earnings while raising its full-year dividend. During 2026, the company also strengthened its balance sheet, moving from a net debt position to net cash following deleveraging. Strategically, PPHC completed two acquisitions to expand its capabilities and international footprint and carried out a $45.8 million U.S. IPO alongside a dual listing on Nasdaq. Management has signalled ambitions to act as a consolidator in the fragmented strategic communications industry, targeting mid-single-digit organic revenue growth and EBITDA margins of around 25%, supported by further acquisitions.

The company’s outlook reflects strong share price momentum and positive strategic developments, though valuation concerns remain given the reported net loss and previously elevated leverage levels. While revenue growth suggests expanding demand for its services, profitability metrics continue to present a mixed financial picture.

More about Public Policy Holding Company, Inc.

Public Policy Holding Company, Inc. is a global provider of government relations, public affairs and strategic communications services, established in 2014 and dual-listed on Nasdaq and AIM. The group supports around 1,400 clients across sectors including healthcare, financial services, energy, technology, telecommunications and transportation, offering services such as policy advisory, research, digital advocacy and corporate communications to help organisations navigate regulatory and reputational challenges.

Baillie Gifford European Growth Trust plc (LSE:BGEU) has named Joe Faraday as its new portfolio manager, effective 1 April 2026, replacing Stephen Paice and Chris Davies. The appointment forms part of the board’s efforts to strengthen performance while maintaining the trust’s established growth-focused approach and exposure to private companies. Faraday, a long-serving member of Baillie Gifford’s European equities team with close to two decades of experience on a major global ex-U.S. strategy, will oversee the portfolio with an emphasis on building a more diversified growth allocation across a wider range of sectors.

Alongside the management change, the board has kept in place a performance-linked tender offer that would be triggered if the trust fails to outperform its benchmark by 30 September 2028. This mechanism, which could allow shareholders to exit if performance targets are not met, underscores the board’s focus on accountability and improving returns. It also signalled that further measures could be considered if relative performance does not strengthen.

The board confirmed that Faraday’s appointment does not involve any material changes to the trust’s investment objective or policy, highlighting continuity in the overall strategy. Chairman David Barron thanked the outgoing managers for their contributions and said the board believes Faraday’s investment approach is well suited to improving the trust’s relative performance while remaining aligned with shareholder interests.

The trust’s outlook presents a mixed picture. While profitability remains solid, concerns persist around declining revenue and uneven cash flow trends. Technical indicators suggest modest positive momentum, and valuation metrics imply the shares are reasonably priced. However, the absence of recent earnings call commentary or major corporate events limits additional insight into near-term performance drivers.

More about Baillie Gifford European Growth Trust plc

Baillie Gifford European Growth Trust plc is a UK-listed investment trust focused on delivering long-term capital appreciation through a diversified portfolio of European equities. The trust follows a growth-oriented investment style and includes exposure to private companies, aiming to differentiate itself among European equity peers while targeting sustained outperformance of its benchmark over time.

Amcomri Group plc (LSE:AMCO), a UK-focused engineering services and industrial manufacturing group, has strengthened its Embedded Engineering segment through the formation of GridCore Electrical Services Limited. The move aligns with the company’s “Buy, Improve, Build” strategy, which focuses on acquiring businesses linked to critical infrastructure and those capable of generating reliable recurring revenue streams.

GridCore has agreed to purchase the business and assets of the National Compliance and Testing division of Enerveo Limited, a subsidiary of SSE plc, for a nominal consideration of £1. The acquired operation provides specialised electrical testing and compliance services across the UK and reported revenue of roughly £5 million for the year ended 31 March 2025. The transaction also brings around £1.5 million in net assets, giving Amcomri access to an established recurring customer base and potential operational synergies in the private electrical network infrastructure market.

Completion of the acquisition is expected by around 31 May 2026, subject to customary conditions including the novation of contracts and the completion of the TUPE transfer process. Enerveo will also provide transitional support services to GridCore following completion. The deal represents Amcomri’s third acquisition since joining AIM in December 2024 and is intended to expand the group’s capabilities in specialist electrical infrastructure while supporting its growth ambitions within the UK energy and infrastructure sectors.

The company’s solid financial performance and positive technical momentum provide supportive fundamentals, although its elevated valuation could indicate that the shares are trading at a premium. With no recent earnings calls or major corporate events affecting sentiment, these factors remain neutral in shaping the overall outlook.

More about Amcomri Group plc

Amcomri Group plc is a UK-based specialist engineering services and industrial manufacturing company operating under a “Buy, Improve, Build” model. The group focuses on acquiring and developing businesses that deliver technical services to major infrastructure, transportation and energy clients, while also producing specialised B2B products for industrial and mass transportation markets.

River Global PLC (LSE:RVRG) has issued a circular announcing a general meeting scheduled for 14 April 2026, where shareholders will be asked to approve the proposed sale of its wholly owned asset management arm, River Global Holdings, to Liontrust Asset Management. The transaction would see River Global receive an initial £7.6 million in Liontrust shares, with the possibility of up to £2.1 million more in deferred share-based consideration. The disposal represents a fundamental change of business under AIM regulations and remains subject to approval from both the Financial Conduct Authority and shareholders. If completed, the deal—expected by 31 August 2026—would leave the company without active trading operations, although its A and B shares would continue to trade on AIM.

Under the proposed structure, the board intends to distribute the Liontrust shares received as consideration to A shareholders, potentially through a capital reconstruction due to the company’s limited distributable reserves. The company is also reviewing the treatment of outstanding share options, which could involve issuing and transferring additional A shares equal to roughly 11.4% of the current share base. After the transaction, A shareholders would receive the Liontrust shares along with any deferred consideration. Meanwhile, B shareholders would maintain exposure to the company’s Parmenion investment but would be required to contribute cash from any future Parmenion sale proceeds to cover historical and ongoing corporate expenses, which stood at £732,000 as of 28 February 2026.

More about River Global PLC

River Global PLC is a London-listed investment group whose primary activities are conducted through its asset management subsidiary, River Global Holdings Limited. Its securities trade on AIM and consist of A Ordinary Shares and B Shares. The A shares reflect exposure to the group’s core asset management business and related corporate developments, while the B shares are linked to the company’s investment in Parmenion.

Achilles Investment Company Limited (LSE:AIC) has issued its half-yearly financial report covering the period from its formation on 20 January 2025 through to 31 December 2025, representing the company’s first reporting period since becoming an incorporated investment vehicle. The document has been published through the London Stock Exchange’s document service, the U.K. National Storage Mechanism and the company’s own website, giving investors an initial view of the firm’s early activity, financial position and governance framework.

The release of these interim accounts marks an important step in establishing the company’s public reporting record and strengthening transparency around its operations and portfolio oversight managed by Harwood Capital. By making the report accessible through several official platforms, the company aims to provide shareholders and other market participants with the information needed to evaluate its progress as it begins building a performance history in the listed investment trust sector.

More about Achilles Investment Company Limited

Achilles Investment Company Limited, which trades in London under the ticker AIC, is a Guernsey-based investment company structured as a closed-end listed vehicle. It operates under the supervision of a board of directors and is managed by external investment manager Harwood Capital Management (Gibraltar) Limited, with additional support from specialist advisers and a dedicated company secretary.

Metlen Energy & Metals PLC (LSE:MTLN) has moved the publication date for its full-year 2025 financial results to 9 April 2026, nine days later than originally planned, after external auditor PricewaterhouseCoopers requested additional time to complete routine audit procedures related to the company’s first set of dual-listed financial statements. Even with the adjusted schedule, the group reiterated its expectation of approximately €750 million in EBITDA for 2025, indicating that business performance continues to track earlier projections and providing reassurance about its operating momentum.

According to the company, the revised reporting timetable is linked to the additional work required to satisfy regulatory obligations across both the London and Athens stock exchanges rather than any shift in operational conditions. By confirming its profitability outlook while pushing back the announcement date, Metlen is signalling confidence in its financial position and seeking to limit potential investor concerns tied to the delay.

More about Metlen Energy & Metals PLC

Metlen Energy & Metals PLC is active in the energy and metals industries and holds a dual listing on the London Stock Exchange and the Athens Exchange. The company operates across large-scale energy and metals activities and regularly provides performance guidance to investors, positioning itself as a notable participant in regional capital markets.

UBS has reiterated its bullish stance on silver, arguing that the macroeconomic environment for real assets remains supportive and should ultimately drive prices higher despite recent market volatility.

A recent sell-off has pushed silver prices to roughly $60 an ounce, as investors sought liquidity amid escalating geopolitical tensions in the Middle East. The decline reflects investors’ “quest for liquidity amid ongoing military confrontations in the Middle East,” strategists Wayne Gordon and Dominic Schnider wrote in a research note.

Even so, the strategists cautioned against drawing long-term conclusions from the recent price drop. While silver may be “not an effective hedge against a sharp rise in uncertainty or liquidity needs, we believe investors should avoid extrapolating the recent price slump,” they said.

Silver has recently experienced pronounced price swings, with realized volatility approaching 85%. The metal has largely tracked gold’s movements, with the gold-silver ratio climbing close to 70x during recent geopolitical tensions before easing slightly.

Although silver exchange-traded funds have seen stronger outflows — roughly 64 million ounces, representing about 7.5% of peak holdings — UBS noted that the metal has only modestly underperformed gold so far this year.

In the near term, the bank expects potential pressure from industrial demand, which accounts for more than half of global silver consumption. UBS said risks to economic growth and continued volatility could weigh on both industrial and investment demand in 2026, potentially narrowing its projected deficit of roughly 300 million ounces.

Over the longer term, however, the bank sees stronger structural support for silver. Rising oil prices and concerns about fossil fuel supply may accelerate investment in solar power, increasing demand for silver used in photovoltaic technology.

“Since we see the backdrop for real assets as conducive—lower real rates in key economies, mounting debt challenges, and long-term USD weakness—the prospect for silver is one of higher prices,” the strategists wrote.

UBS expects silver to continue moving broadly in line with gold, forecasting the gold-silver ratio to remain near 70x over the next year.

From a strategy standpoint, UBS continues to favor volatility-selling approaches, noting elevated options volatility around 55–60%. The strategists recommend selling downside price risks to generate yield while silver remains above $55 per ounce over the coming three months.

U.S. stock futures point to a notably lower open on Thursday, suggesting equities may retreat after the gains recorded in the previous session.

Instability in oil markets is expected to weigh on investor sentiment, with Brent crude futures — the global benchmark — climbing more than 5% after falling over 2% during Wednesday’s trading.

The renewed surge in oil prices comes as uncertainty continues to surround possible diplomatic efforts to end the Middle East conflict. Iran rejected a U.S. proposal to pause the war, stating that any halt to hostilities would only occur under Tehran’s own conditions and timetable.

Posting on Truth Social, President Donald Trump described Iranian negotiators as “very different” and “strange,” while asserting they are “begging” the United States to reach an agreement.

“They better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won’t be pretty!” Trump warned.

Concerns that the conflict could broaden may also weigh on markets after several Gulf states released a joint statement condemning Iran’s “criminal” attacks on their energy infrastructure.

“While we value our fraternal relations with the Republic of Iraq, we call on the Iraqi government to take the necessary measures to immediately halt the attacks … toward neighboring countries,” the statement said. It was issued by the United Arab Emirates, Kuwait, Bahrain, Saudi Arabia, Qatar and Jordan.

The Gulf nations also reiterated their right to self-defense and their ability to “take all necessary measures to safeguard our sovereignty, security, and stability.”

After finishing Tuesday’s choppy session mostly lower, U.S. stocks rebounded strongly in early trading on Wednesday. Although the major indexes lost some momentum later in the day, they still closed in positive territory.

The Nasdaq rose 167.93 points, or 0.8%, to 21,929.83. The Dow Jones Industrial Average gained 305.43 points, or 0.7%, to 46,429.49, while the S&P 500 added 35.53 points, or 0.5%, finishing at 6,591.90.

The early rally on Wall Street followed a sharp drop in oil prices, with Brent crude futures sliding 1.7% after surging the day before.

Crude prices pulled back after the New York Times reported that the United States had presented Iran with a 15-point plan aimed at ending the Middle East conflict.

According to two officials familiar with the diplomatic effort, the proposal — delivered through Pakistan — addresses Iran’s ballistic missile and nuclear programs.

The newspaper noted that it remains unclear whether Tehran would accept the proposal as a basis for negotiations but suggested that presenting the plan indicates the administration is stepping up efforts to bring the war to a close.

As diplomatic activity intensifies, Iran has informed both the United Nations Security Council and the International Maritime Organization that “non-hostile vessels” may pass through the Strait of Hormuz with Tehran’s authorization.

However, optimism in the markets was tempered by a report from Iran’s state-linked Fars News Agency claiming that Iran will reject the U.S. ceasefire proposal.

“Iran does not accept the ceasefire,” an informed source told FARS, according to a translation published on the outlet’s Telegram page. “Basically, it is not logical to enter into such a process with the violators of the agreement.”

On the economic front, the Labor Department released data showing U.S. import prices rose far more than expected in February.

Import prices increased 1.3% during the month after climbing a revised 0.6% in January.

Economists had forecast a 0.5% increase compared with the 0.2% rise originally reported for the prior month.

Export prices also jumped 1.5% in February following a 0.6% increase in January, exceeding expectations for a 0.5% gain.

Among sectors, biotechnology stocks posted notable gains, lifting the NYSE Arca Biotechnology Index by 3.5%.

Gold-related shares also rallied alongside rising bullion prices, pushing the NYSE Arca Gold Bugs Index up 3%.

Airline, computer hardware and pharmaceutical stocks also recorded solid gains, advancing along with most of the other major sectors.