Blog

British equities remained mostly flat on Tuesday, while the British pound gained ground, boosted by a mixed set of corporate earnings that kept investors cautious.

By 11:53 GMT, the FTSE 100 edged up a marginal 0.04%, while the pound climbed over 1% against the US dollar, crossing the 1.34 mark. In contrast, Germany’s DAX index slipped 0.5%, and France’s CAC 40 inched up 0.1%.

PageGroup Shares Slide Amid Sharp Profit Drop

Shares of recruitment firm PageGroup (LSE:PAGE) declined 3.7% after it revealed a steep fall in first-half pre-tax profit to just £0.2 million, down sharply from £27.7 million in the same period last year. The company cited sluggish hiring demand and restructuring costs as key factors weighing on results through June 30.

Revenue dropped to £798.4 million from £898.0 million, while gross profit slid to £389.7 million from £444.1 million. Operating profit plunged to £2.1 million from £28.4 million, with basic and diluted earnings per share falling to zero from 5.3 pence in H1 2024.

Entain Raises Profit Forecast on Online Growth Surge

Meanwhile, Entain (LSE:ENT) boosted its full-year profit outlook following an 11% rise in underlying EBITDA to £583 million for the first half, driven by robust online operations and a 35% revenue jump at its U.S. partner BetMGM.

Bellway Reports Net Cash Position and Strong Housing Revenue Growth

Housebuilder Bellway (LSE:BWY) reversed last year’s net debt of £10.5 million to finish fiscal 2025 with £42 million in net cash. The company completed 8,749 homes over the year ending July 31, a 14.3% increase, with housing revenue rising 17% to over £2.76 billion.

Spirax Group Shares Rally on Better-Than-Expected Earnings

Spirax Group (LSE:SPX) shares surged more than 15% after reporting first-half earnings that topped forecasts by 5%. The industrial energy and fluid technology firm posted EBIT of £159 million, surpassing analysts’ estimates of £151 million.

Genuit Group Shares Fall Despite Strong Sales

Genuit Group (LSE:GENG) shares dropped over 7% after the company maintained its full-year earnings forecast despite higher H1 sales, citing ongoing cost pressures and limited market expansion as headwinds.

Derwent London Dips on Flat Earnings and Higher Vacancy

Derwent London (LSE:DLN) shares fell more than 5% following flat earnings in the first half of 2025. Despite reaffirming rental growth targets, the firm faced higher vacancy rates and missed some analyst expectations.

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.

Crude prices dipped on Tuesday as markets weighed an extension of the U.S.-China tariff truce, with attention also turning to the release of key U.S. inflation figures and high-level peace discussions between Washington and Moscow later this week.

By 07:35 ET (11:35 GMT), October Brent futures slipped 0.4% to $66.34 a barrel, while West Texas Intermediate (WTI) crude for September delivery dropped 0.6% to $63.61 a barrel.

Tariff Truce Extension Lifts Early Optimism

Prices initially found support after Washington and Beijing agreed to prolong their current tariff freeze—originally due to expire today—by another 90 days. The temporary arrangement, first struck in May, had kept tariff rates well below the triple-digit levels seen earlier in the year.

The extension was seen as a positive sign for global trade relations, with both governments signaling optimism about reaching a longer-term agreement. Still, the recent implementation of President Trump’s tariffs last week remained a key source of uncertainty for energy traders, who continue to assess whether the levies could dampen global growth and curb oil demand.

Caution Ahead of U.S. CPI Report

Early gains faded as investors braced for U.S. consumer price index data later in the session—numbers that could influence the Federal Reserve’s next interest rate move. While recent weakness in the labor market has bolstered expectations for a September rate cut, persistent inflation has kept some Fed policymakers hesitant, particularly amid the unclear inflationary effects of ongoing trade policies.

Lower interest rates often stimulate economic activity, potentially increasing energy consumption, but any sign of stubborn price pressures could temper those expectations.

Peace Talks Between Washington and Moscow in the Spotlight

Markets are also watching Friday’s planned meeting in Alaska between President Donald Trump and Russian President Vladimir Putin, where efforts to broker a resolution to the Ukraine conflict will be discussed.

The talks come after Trump threatened stricter measures against Russia’s oil sector, including steep tariffs on major buyers such as India and China. Proposed duties could reach as high as 50% for Indian crude imports, with China facing similar penalties. Analysts warn such moves could prompt both countries to seek alternative suppliers, potentially reshaping global oil flows.

Ukraine, however, has already indicated it will reject any peace deal involving territorial concessions to Russia. Even so, a breakthrough in negotiations could see Russian oil exports rise, adding to global supply and influencing prices in the months ahead.

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 advanced Tuesday following news that the United States and China agreed to prolong their tariff truce, easing trade tensions and lifting investor confidence ahead of crucial U.S. inflation figures.

By 07:10 GMT, Germany’s DAX rose 0.3%, France’s CAC 40 gained 0.5%, and the UK’s FTSE 100 added 0.4%.

Tariff pause fuels positive market mood

Investors worldwide welcomed the extension of the tariff ceasefire between the two largest economies, announced late Monday. This deal delays the imposition of additional tariffs for another 90 days, helping maintain more moderate duties and preventing potential disruptions to global trade.

Under the agreement, existing U.S. tariffs on Chinese imports will remain between 30% and 50%, while China’s tariffs on American goods will stay in the 10% to 20% range. This follows their May accord to reduce tariffs from levels exceeding 100%. The truce also sustains recent U.S. chip export relaxations and China’s rare earth trade resumption.

Focus shifts to U.S. inflation report

European investors are also awaiting Germany’s ZEW economic sentiment index for August, expected later Tuesday, as a barometer of confidence in Europe’s largest economy.

Earlier, UK data revealed unemployment steady at 4.7% for the quarter ending June—the highest since mid-2021—while average wage growth excluding bonuses held at 5.0% year-on-year.

However, the market’s main focus remains on the upcoming U.S. consumer price index (CPI) for July. This report is seen as critical in gauging the inflationary impact of ongoing tariff policies and how the Federal Reserve might adjust interest rates in response.

Economists forecast the annual CPI inflation rate to tick up slightly to 2.8% from 2.7% in June, continuing to outpace the Fed’s 2% target.

Corporate earnings highlights

Although earnings season is winding down, some companies posted notable results. Hannover Re (TG:A30VQR) reported a strong 38% year-over-year rise in second-quarter net income, buoyed by better underwriting results in property and casualty reinsurance as well as improved reinsurance service income.

UK homebuilder Bellway (LSE:BWY) shifted from a net debt position of £10.5 million last year to a net cash balance of £42 million by the end of fiscal 2025, thanks to higher-than-expected housing completions and revenues.

Meanwhile, gambling firm Entain (LSE:ENT) raised its full-year profit outlook after reporting solid first-half gains driven by robust online growth and a 35% revenue increase from its U.S. joint venture, BetMGM.

Oil edges up amid tariff ceasefire and geopolitical talks

Crude oil prices edged higher Tuesday as the tariff truce eased worries about a slowdown in the world’s two biggest oil-consuming nations. At 03:10 ET, Brent crude futures were up 0.3% at $66.81 per barrel, and West Texas Intermediate crude climbed 0.4% to $64.20 per barrel.

Adding to market uncertainty, U.S. President Donald Trump and Russian President Vladimir Putin are scheduled to meet in Alaska on Friday to discuss prospects for ending the conflict in Ukraine.

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 showed mixed signals Tuesday as traders prepared for the release of critical inflation data that could clarify the Federal Reserve’s upcoming interest rate plans. Meanwhile, President Donald Trump has nominated the Heritage Foundation’s chief economist to lead the U.S. Bureau of Labor Statistics (BLS), days after the previous commissioner was removed following a disappointing jobs report. In other news, billionaire Elon Musk accused Apple (NASDAQ:AAPL) of favoring OpenAI’s ChatGPT over his AI startup xAI on the App Store.

Futures in flux

Ahead of the inflation figures, U.S. futures fluctuated near unchanged levels. By 2:58 a.m. ET, Dow futures were up 75 points (0.2%), S&P 500 futures slipped 7 points (0.1%), and Nasdaq 100 futures declined 38 points (0.2%).

On Wall Street’s prior session, key indices edged lower amid investor concerns about a reported agreement between semiconductor giants Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) to give the U.S. government a 15% cut on AI chip sales to China. Shares of both companies closed slightly down — Nvidia by 0.35% and AMD by 0.28% — as the levy raised fears it could squeeze profit margins and set a precedent for taxing vital tech exports.

Market participants appeared indifferent to Trump’s announcement of a 90-day extension to the U.S.-China trade truce, described by Vital Knowledge analysts as “widely expected.” The existing agreement was set to expire Tuesday.

Inflation data in focus

All eyes are on Tuesday’s consumer price index (CPI) release. Inflation is forecast to rise modestly to 2.8% year-over-year for July, with a slight 0.2% increase month-over-month. Core CPI, which excludes volatile food and energy prices, is predicted to accelerate to 3.0% annually and 0.3% monthly.

These numbers could influence the Federal Reserve’s rate decision next month. After a weak July jobs report and significant downward revisions for May and June, the market increasingly anticipates a 25 basis point rate cut in September. If inflation prints as expected or lower, it would likely strengthen that view.

Yet, stronger-than-expected inflation could give policymakers pause, especially given the Fed’s recent caution amid concerns that Trump’s aggressive tariffs might push prices higher. Trump has criticized the Fed for its “wait-and-see” approach, calling for faster and deeper cuts, a stance that saw some dissent at July’s policy meeting.

New BLS chief nominee

Alongside inflation, questions about government data integrity have resurfaced after Trump fired Labor Department Bureau of Labor Statistics commissioner Erika McEntarfer, accusing her without evidence of manipulating numbers for political reasons following the weak jobs report.

On Monday, Trump announced he nominated economist E.J. Antoni to replace McEntarfer, pending Senate confirmation. Antoni holds a doctorate in economics and has previously criticized the BLS, the agency responsible for producing vital economic data closely watched by investors and policymakers.

Trump wrote on his social media platform that “E.J. will ensure that the Numbers released are HONEST and ACCURATE.”

However, some analysts cited by Reuters have expressed caution regarding Antoni’s nomination, noting it could increase demand for private-sector economic data alternatives.

Musk threatens Apple with lawsuit

Elon Musk accused Apple’s App Store of anti-competitive conduct, warning that his AI startup xAI plans to take “immediate legal action” over what he claims is preferential treatment of OpenAI’s ChatGPT.

In posts on his social media site X late Monday, Musk stated that Apple’s policies “make it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation.”

He questioned why X and xAI’s chatbot app Grok were missing from Apple’s “Must Have” app list despite being, by his claim, the top news app worldwide and the fifth overall.

“Are you playing politics? What gives?” Musk asked, also alleging ChatGPT “appears in every list where (Apple has) editorial control.”

OpenAI CEO Sam Altman responded on X, saying, “This is a remarkable claim given what I have heard alleged that Elon does to manipulate X to benefit himself and his own companies and harm his competitors and people he doesn’t like.”

RBA cuts rates

The Reserve Bank of Australia (RBA) cut its benchmark interest rate by 25 basis points to 3.60%, as widely expected, signaling it may ease policy further to combat slowing inflation.

This marks the RBA’s third rate cut this year after initiating its easing cycle in the first quarter. The bank also lowered its forecast for 2025 economic growth to below 2%, citing cooling inflation as a reason to consider additional rate reductions.

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 slipped modestly on Tuesday as markets awaited the release of July’s consumer inflation data, a report expected to influence Federal Reserve interest rate decisions in the near term.

By 04:15 ET (08:15 GMT), the Dollar Index, which measures the greenback’s strength against six major currencies, fell 0.1% to 98.317, after gaining 0.5% over the previous two sessions.

All eyes were on the U.S. consumer price index (CPI) figures due later in the day, as traders looked for guidance on the future path of interest rates in the world’s largest economy.

A moderate inflation reading could reinforce bets on a Fed rate cut next month. However, if evidence shows that tariffs imposed by U.S. President Donald Trump are fueling inflation, the central bank might hold off on easing.

The headline CPI is predicted to edge up to 2.8% from June’s 2.7%, staying above the Fed’s 2% target.

“Despite some positioning rebalancing ahead of the release, a hotter-than-expected print should still support the dollar, as markets may revise down expectations for a September Fed cut to below 20bp,” ING analysts wrote in a note.

They added, “However, we think labor market data is more influential than inflation, given the consensus view that tariff-induced price shocks are transitory and last month’s large payroll revisions.”

In Europe, the euro inched higher against the dollar, with EUR/USD reaching 1.1618 ahead of Germany’s ZEW economic sentiment survey for August, which is expected to provide insight into Europe’s largest economy.

The single currency’s direction will also hinge on news ahead of Friday’s summit between the Russian and U.S. presidents, where a potential truce in Ukraine is on the agenda.

“We expect today’s U.S. CPI to bring EUR/USD back below 1.16 with risks skewed to a test of the 1.150 support if the Putin-Trump summit yields few results on Friday,” ING commented.

The British pound gained slightly, with GBP/USD up 0.1% to 1.3451 after data revealed that the U.K.’s unemployment rate held steady at 4.7% in the three months ending in June — the highest since July 2021. Meanwhile, pay growth across the economy, excluding bonuses, remained at an annual 5.0%.

“While the labor market is cooler than earlier this year and softer than in other major economies, there’s no clear signal yet for the Bank of England to accelerate rate cuts,” ING noted.

Turning to the yuan, USD/CNY edged up slightly to 7.1897, with limited movement following the announcement that China and the U.S. agreed to extend their trade truce for another 90 days before imposing further tariffs.

This extension eased fears of renewed tensions in the long-running U.S.-China trade dispute, keeping tariffs at substantially reduced levels.

The development also boosted hopes for a more lasting trade agreement between the world’s two largest economies.

Elsewhere, USD/JPY rose 0.1% to 148.33, while AUD/USD dipped 0.2% to 0.6503 after the Reserve Bank of Australia cut its benchmark interest rate by 25 basis points to 3.60%, matching market expectations.

This marks the central bank’s third rate reduction this year, continuing the easing cycle that began in the first quarter.

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.

Crude prices were largely unchanged in Asian trading on Tuesday as investors awaited high-stakes U.S.-Russia negotiations that could pave the way for an end to the conflict in Ukraine and potentially ease the strain on major oil-importing nations such as India and China.

Sentiment was also supported by news that Washington and Beijing had agreed to prolong their current trade truce by an additional 90 days, easing fears of a renewed tariff battle. However, traders remained cautious ahead of key U.S. inflation figures expected later in the day, limiting any upside in prices.

By 21:52 ET (01:52 GMT), Brent crude futures for October delivery were up 0.2% at $66.74 per barrel, while West Texas Intermediate (WTI) crude also added 0.2% to trade at $63.21.

Trade truce extension offers a modest lift

Oil markets drew mild support from the latest U.S.-China agreement, which extends the May–June trade ceasefire for another three months and maintains reduced tariff rates between the two economies.

Without the extension, the temporary deal was set to expire Tuesday, opening the door for both countries to reimpose tariffs that earlier this year exceeded 100%. Instead, officials from both sides—along with U.S. President Donald Trump—struck an optimistic tone, suggesting progress toward a more lasting trade settlement.

Still, uncertainty lingers. Tariffs introduced last week by Washington remain in place, raising questions over whether they could dampen global economic momentum and weaken oil demand in the months ahead.

Diplomatic spotlight shifts to U.S.-Russia meeting

Markets are also closely tracking preparations for a meeting between Trump and Russian President Vladimir Putin in Alaska this Friday, where efforts to broker a resolution to the Ukraine war will top the agenda.

The talks follow fresh threats from Trump of harsher measures against Russia’s oil sector, as well as steep new tariffs aimed at India and China—Moscow’s two biggest energy buyers. He floated tariffs as high as 50% on Indian imports, with China potentially facing similar penalties.

While such measures could disrupt global crude flows if India and China sought alternative suppliers, market concerns have eased slightly ahead of the scheduled talks. Ukraine has already stated it will reject any agreement requiring territorial concessions, but any sign of de-escalation could unlock additional Russian oil exports, boosting worldwide supply.

Inflation data also on the radar

Before the diplomatic drama unfolds, oil traders will be watching Tuesday’s release of U.S. consumer price index data for July. The numbers could offer fresh clues on the outlook for fuel demand in the world’s largest oil-consuming 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.

UBS has raised its lithium price outlook after CATL paused operations at its Jianxiawo lepidolite mine in China, fueling supply concerns amid intensified regulatory scrutiny in the region. The mining suspension took effect following the expiration of CATL’s license on August 9, with the company signaling a closure period of “at least 3 months,” according to a UBS research note published Monday.

This halt is part of China’s broader anti-involution crackdown, which targets issues such as mining license violations and production levels exceeding authorized capacity. Prior to this, UBS estimated that, beyond the already suspended 11,000 tons per year of lithium carbonate equivalent (LCE) from Zangge Mining, as much as 229,000 tons of lithium supply could be at risk due to non-compliance with licensing requirements.

In light of these developments, UBS increased its price forecasts for spodumene by 16% to 27% and for lithium chemicals—including carbonate and hydroxide—by 5% to 14% over the 2025–2028 period. The bank now believes that “the worst of the lithium price downcycle has passed,” although its projections remain below the broader market consensus.

UBS also revised supply growth expectations for Australian producers following recent quarterly results and delayed Rio Tinto’s (NYSE:RIO) James Bay project from its original timeline of 2025/26.

On the demand front, global electric vehicle sales rose 26% year-over-year in June, with China leading the growth at 31%. Chinese EV manufacturers currently account for roughly 64% of the global market. While sales in North America declined, Europe’s market accelerated by 26% year-over-year in June, and the Asia Pacific region excluding China surged by 55%.

The battery energy storage system (BESS) sector is also expanding rapidly, with the project pipeline increasing by 115% year-over-year and representing approximately 1.6 terawatt-hours (TWh) of capacity planned between 2025 and 2030.

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.

Jubilee Metals Group (LSE:JLP) has announced plans to sell its South African Chrome and Platinum Group Metals (PGM) operations to One Chrome (Pty) Ltd for up to $90 million. This move marks a strategic pivot towards the copper sector, aiming to enhance investor recognition and improve valuation multiples. The proceeds from the sale are expected to exceed the company’s immediate capital requirements, creating opportunities for share buybacks or dividend distributions. This transaction enables Jubilee to reallocate resources to its growing Zambian copper business, which benefits from strong market conditions and growth prospects.

Jubilee’s outlook balances strong growth potential in its copper-focused strategy and operational improvements with financial pressures including narrowing profit margins and rising leverage. While recent corporate developments support the strategy, technical indicators advise caution in the short term.

More about Jubilee Metals Group

Jubilee Metals Group PLC is a diversified metals producer operating mainly in South Africa and Zambia. The company produces chrome, platinum group metals (PGMs), and copper, with a strategic focus on expanding its footprint in the copper market.

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.

Zoo Digital Group PLC (LSE:ZOO) announced its financial results for the year ending March 31, 2025, reporting a 22% revenue increase to $49.6 million and a return to positive adjusted EBITDA. Despite ongoing industry disruptions, the company has restructured its operations to prioritize profitability and cash flow generation in FY26. Zoo Digital has solidified its market position as a Preferred Fulfilment Vendor for Amazon Prime Video and Netflix, while leveraging AI and automation to boost operational efficiency. The company remains optimistic about capitalizing on profitable revenue streams as the streaming industry evolves.

Zoo Digital’s outlook is tempered by notable financial challenges, including profitability pressures and valuation concerns tied to its negative price-to-earnings ratio. Technical analysis indicates some short-term upside potential, although longer-term hurdles persist. Insider buying signals a degree of corporate confidence, highlighting opportunities if financial stability improves.

More about Zoo Digital

Zoo Digital Group PLC operates in the localisation and digital media services sector, primarily serving the global entertainment industry. It provides technology-driven, end-to-end media localisation solutions such as dubbing and subtitling. The company has also developed the Fast Track service, designed for localising live and near-live content efficiently.

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.

Arcontech Group PLC (LSE:ARC) has indicated that its revenue and adjusted EBITDA for the fiscal year ending June 30, 2025, are expected to meet market forecasts, while Profit Before Tax is projected to outperform expectations, largely driven by interest income from bank deposits. These preliminary figures, pending final audit confirmation, point to a stronger financial performance that could enhance the company’s standing within the financial market data sector.

Arcontech’s outlook is underpinned by consistent revenue growth, robust profitability, and a stable balance sheet. The company’s valuation remains attractive with a low price-to-earnings ratio, though dividend yields appear unusually high. Technical analysis shows a neutral to mildly bullish momentum.

More about Arcontech

Arcontech Group Plc is a prominent independent provider of financial market data infrastructure and visualization solutions. Its offerings include multi-source data aggregation, value-added processing, publishing, distribution, and display services. The company delivers flexible and cost-efficient alternatives to traditional market data systems, supporting off-the-shelf, tailored, or newly developed solutions for cloud, on-premises, or hybrid environments. Arcontech partners with industry leaders such as Bloomberg, Refinitiv, and Symphony, serving global Tier 1 and Tier 2 financial market participants as well as key regulatory bodies.

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.