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  • Silver Bullet reports positive EBITDA as AI efficiencies and new contracts support 2026 growth outlook

    Silver Bullet reports positive EBITDA as AI efficiencies and new contracts support 2026 growth outlook

    Silver Bullet Data Services Group plc (LSE:SBDS) said revenue for 2025 is expected to remain broadly in line with 2024 levels after growth in the final quarter was affected by macroeconomic disruptions, including the U.S. government shutdown and tariff-related uncertainty that delayed client activity.

    Despite the subdued revenue trend, the group implemented a cost restructuring programme during the second half of 2025 and introduced AI-driven operational efficiencies that significantly reduced operating expenditure. As a result, the company has been trading at a positive EBITDA level since the beginning of 2026.

    Management said trading conditions have improved considerably in 2026, supported by strong demand for its AI-based products and services. The group has secured several new contracts, including agreements with a major European airline and a key U.S. partner for deployment of its 4D platform.

    The board noted that committed revenues already account for approximately 73% of its full-year expectations, while a healthy pipeline of opportunities underpins confidence in a return to growth during 2026. The company believes these developments demonstrate improving operational resilience and reinforce its medium-term growth strategy.

    However, the broader outlook remains weighed down by weak financial fundamentals. The group continues to report losses, carries relatively high leverage and generates negative operating cash flow. From a technical perspective, the share price picture is mixed but leans weaker as the stock currently trades below key longer-term moving averages. Valuation is also limited by the absence of profitable earnings and the lack of dividend support.

    More about Silver Bullet Data Services Group plc

    Silver Bullet Data Services Group plc is a London-based provider of AI-driven digital transformation services and technology solutions. Its proprietary 4D AI advertising platform is designed to help brands navigate the shift toward privacy-first digital advertising. The company works with a range of blue-chip clients across industries such as hospitality and brewing, and employs more than 85 data specialists across the U.K., Italy, Australia, the United States and Latin America as it continues to pursue international growth opportunities.

  • Seraphim Space Investment Trust reports NAV growth as SpaceTech portfolio secures major contracts and funding

    Seraphim Space Investment Trust reports NAV growth as SpaceTech portfolio secures major contracts and funding

    Seraphim Space Investment Trust Plc (LSE:SSIT) reported a strong performance for the six months ending 31 December 2025, with net asset value increasing 20.1% to £337.5m. The value of its investment portfolio rose 27.6% to £331.6m, supported by significant valuation gains in several core holdings and a narrowing of the trust’s share price discount.

    The company noted that approximately 77% of the portfolio’s value is backed by companies with a secure cash runway, while more than 85% of holdings are expected to achieve EBITDA profitability by 2026. Liquidity remains solid, with £22.1m in cash alongside listed investments providing additional financial flexibility.

    Growth during the period was largely driven by substantial defence and government-related contracts as well as successful fundraising rounds among key portfolio companies. Businesses including ICEYE, ALL.SPACE, D-Orbit and HawkEye 360 secured large contracts and attracted significant Series D and Series E financing, contributing to higher valuations across the portfolio.

    Activity has continued beyond the reporting period. Additional commercial contracts, satellite launches and capital raises at companies such as ICEYE, SatVu, Tomorrow.io and Pixxel have strengthened the strategic positioning of the portfolio. These developments highlight the growing demand for services linked to space-based surveillance, radio-frequency intelligence and weather data, reinforcing SSIT’s exposure to a rapidly expanding SpaceTech market.

    Despite the portfolio’s operational momentum, the trust’s outlook is moderated by weaker financial quality metrics. Results remain influenced by valuation changes and the company continues to report negative operating cash flow. However, the balance sheet remains conservative with no debt. From a technical perspective, the share price trend remains positive with strong momentum, although indicators suggest the stock may be approaching stretched levels. Valuation analysis is limited due to the absence of conventional metrics such as a price-to-earnings ratio and dividend yield.

    More about Seraphim Space Investment Trust Plc

    Seraphim Space Investment Trust Plc is a London-listed investment vehicle specialising in the SpaceTech sector. The trust invests in early- and growth-stage companies developing satellite constellations, space-based data services, communications technologies and supporting infrastructure. Its portfolio targets businesses serving defence, government and commercial customers that depend on space-derived intelligence, connectivity and navigation capabilities across global markets.

  • Predator progresses Trinidad drilling plans after technical report confirms 2P reserves

    Predator progresses Trinidad drilling plans after technical report confirms 2P reserves

    Predator Oil & Gas Holdings Plc (LSE:PRD) has released an Independent Technical Report supporting the proposed Snowcap-3 (SC-3) appraisal well on the Cory Moruga onshore licence in Trinidad, confirming 2P reserves of 8.73 million barrels. The assessment also outlines project economics based on an assumed oil price of US$60 per barrel.

    The company has begun groundwork for the SC-3 location, including site preparation and land registry processes, and is also assessing a possible location for a follow-up SC-4 well. Management has carried out an inspection of Star Valley Rig 205 and reviewed the drilling programme for the BON-20 well. A further operational update is expected once BON-20 drilling and testing have been completed.

    Predator said preparations for the SC-3 well are advancing steadily. If the well proves successful and receives regulatory approval, it could be brought into production relatively quickly. The company aims to align any production uplift with currently elevated oil prices, which have been supported by geopolitical tensions in global energy markets.

    The activity forms part of Predator’s strategy to accelerate the development of its onshore Trinidad assets, allowing the company to monetise discovered resources quickly while market conditions remain favourable. Management continues to focus on bringing appraisal prospects into production to strengthen the group’s portfolio of producing and development-stage assets.

    From a financial perspective, the company’s outlook remains limited by weak performance metrics, including the absence of revenue, ongoing losses, and continued cash burn, although its balance sheet remains relatively clean with low levels of debt. Some improvement was noted in 2024. Technical indicators offer mixed signals: the MACD indicator is positive and the share price is trading above key longer-term averages, though momentum levels suggest the stock may be approaching overbought territory. Valuation also remains under pressure due to the company’s loss-making status and lack of dividend yield.

    More about Predator Oil & Gas Holdings Plc

    Predator Oil & Gas Holdings Plc is a Jersey-registered oil and gas company focused on hydrocarbon production in Trinidad and gas appraisal with near-term development potential in Morocco. Its Moroccan portfolio includes shallow biogenic gas prospects suitable for compressed natural gas (CNG) or micro-LNG development, while its Trinidad operations centre on mature onshore oil fields where production enhancement and infill drilling opportunities exist. The company aims to benefit from favourable Moroccan gas pricing and fiscal terms alongside Trinidadian tax loss allowances and a services agreement with NABI Construction, supporting a relatively low-cost operating model.

  • Oil Pullback Could Support Wall Street Rebound After Turbulent Session: Dow Jones, S&P, Nasdaq, Futures

    Oil Pullback Could Support Wall Street Rebound After Turbulent Session: Dow Jones, S&P, Nasdaq, Futures

    U.S. stock futures were pointing to a higher open on Wednesday, indicating that equities may attempt to rebound after ending the previous session sharply lower despite recovering from their intraday lows.

    Investors may be inclined to step back into the market following Tuesday’s early sell-off, which pushed the major indices to their lowest levels in roughly three months.

    Early buying momentum may also be supported by a retreat in crude oil prices, which are easing after recently climbing to their highest levels since June.

    The drop in oil prices followed an announcement by President Donald Trump that he had instructed the U.S. Development Finance Corporation to provide political risk insurance and guarantees aimed at protecting maritime trade routes in the Middle East.

    Trump also said the U.S. Navy would escort tankers through the Strait of Hormuz if required, pledging to ensure the “free flow of energy to the world.”

    The move helped ease concerns about potential disruptions to global energy supplies caused by the ongoing conflict that began after U.S. and Israeli strikes on Iran.

    Futures remained higher even after payroll processor ADP released a report showing that U.S. private-sector employment grew more than expected in February.

    During Tuesday’s trading session, stocks attempted to rebound after a steep early decline but ultimately closed significantly lower.

    Although the major indices climbed well above their lowest levels of the day, they still ended the session deep in negative territory.

    The Dow Jones Industrial Average fell 403.51 points, or 0.8%, closing at 48,502.27 after earlier dropping more than 1,200 points to its lowest intraday level in nearly three months.

    The Nasdaq Composite declined 232.17 points, or 1.0%, to finish at 22,516.69, while the S&P 500 lost 64.99 points, or 0.9%, ending the day at 6,816.63. Earlier in the session, the indices had fallen by as much as 2.7% and 2.5%, respectively, reaching three-month lows.

    The sharp early decline on Wall Street was largely driven by concerns surrounding the intensifying conflict in the Middle East.

    As the conflict moved into its fourth day, President Donald Trump suggested the war could last four to five weeks but might “go far longer than that.”

    Defense Secretary Pete Hegseth provided limited details about the duration of the operation against Iran but insisted it would not be “endless,” describing the campaign as a “generational” opportunity to reshape the Middle East.

    Oil prices have surged in response to the conflict, raising concerns that higher energy costs could fuel inflation.

    The prolonged rally in crude followed reports that Iran had closed the Strait of Hormuz in retaliation for U.S. and Israeli attacks and warned it could target vessels attempting to pass through the strategic waterway.

    Supply concerns intensified further after attacks on several oil refineries, including Saudi Aramco’s facility in Ras Tanura.

    “The longer oil and natural gas prices remain elevated, the greater the risk of a meaningful impact on inflation which could mean higher interest rates, an event that’s typically negative for equity markets,” said Dan Coatsworth, head of markets at AJ Bell.

    Despite the broader market’s recovery attempt, gold-related stocks continued to weaken amid a sharp decline in gold prices.

    The NYSE Arca Gold Bugs Index dropped 8.0%, extending its pullback from the record closing high reached last Friday.

    Semiconductor shares also remained under heavy pressure, highlighted by a 4.6% decline in the Philadelphia Semiconductor Index.

    Steelmakers, computer hardware companies, networking firms and oil services stocks also posted notable losses, while software stocks managed to move against the broader downward trend.

  • European Stocks Stabilize as U.S. Moves to Protect Gulf Oil Shipments: DAX, CAC, FTSE100

    European Stocks Stabilize as U.S. Moves to Protect Gulf Oil Shipments: DAX, CAC, FTSE100

    European equity markets steadied on Wednesday after U.S. President Donald Trump signaled that the U.S. Navy could escort oil tankers through the Strait of Hormuz, aiming to secure maritime trade routes in the Gulf and ease pressure from rapidly rising global energy prices.

    The U.S. Development Finance Corporation (DFC) also confirmed it stands ready to provide political risk insurance and guarantees for energy shipments moving through the Gulf region.

    Energy markets remain under significant strain. European thermal coal prices have surged to their highest level since October 2023, while European gas exchange prices climbed 11% during the session. Brent crude rose above $83 per barrel after Iran disrupted shipping through a key Middle Eastern oil route.

    On the economic front, the HCOB Eurozone Services PMI business activity index increased from 51.6 in January to 51.9 in February, reaching a two-month high and matching market expectations.

    Major European benchmarks moved higher, with Germany’s DAX Index rising 1.7%, France’s CAC 40 Index gaining 1.2%, and the U.K.’s FTSE 100 Index advancing 0.8%.

    Among individual stocks, Dutch semiconductor equipment supplier ASM International (EU:ASM) rallied after lifting its 2026 outlook and announcing a €150 million share buyback program for 2026–2027 following stronger-than-expected net profit in the fourth quarter of 2025.

    France’s Dassault Aviation (EU:AM) also climbed after reporting 2025 sales that exceeded forecasts.

    In contrast, British homebuilder Vistry Group (LSE:VTY) dropped sharply after revealing that executive chairman Greg Fitzgerald plans to step down within the next year.

    Engineering company Weir Group (LSE:WEIR) also declined after reporting a year-over-year decrease in full-year earnings.

    Meanwhile, pharmaceuticals and crop protection group Bayer (TG:BAYN) fell after reporting a wider fourth-quarter loss tied to litigation expenses related to its Roundup weedkiller.

    Sportswear manufacturer Adidas (TG:ADS) also moved lower following the announcement of changes to its supervisory board.

  • FTSE 100 rises on hopes of easing Middle East tensions; Vistry plunges on margin warning

    FTSE 100 rises on hopes of easing Middle East tensions; Vistry plunges on margin warning

    UK equities moved higher on Wednesday after earlier weakness this week triggered by the outbreak of war in the Middle East over the weekend. Broader European markets also advanced as investors bet that geopolitical tensions could begin to ease.

    According to officials familiar with the situation, Iranian representatives have approached the CIA to explore potential terms to end the conflict, in what The New York Times described as an attempt to open a negotiating channel. While the development suggests a possible diplomatic shift, details about the proposed discussions remain unclear.

    As of 12:23 GMT, the blue-chip FTSE 100 index was up 0.6%, while the British pound rose 0.1% against the U.S. dollar to 1.3373. Elsewhere in Europe, Germany’s DAX gained 1.4% and France’s CAC 40 climbed 0.8%.

    UK corporate round-up

    Shares of John Wood Group PLC (LSE:WG.) slipped 0.9% after the Financial Conduct Authority completed its investigation into historical financial reporting issues at the company.

    Vistry Group PLC (LSE:VTY) dropped more than 17% after the housebuilder warned that profit margins will come under pressure in 2026 as it introduces pricing incentives to stimulate Open Market sales, even though its full-year 2025 adjusted profit before tax broadly met guidance. The company reported adjusted profit before tax of £268.8 million for 2025, compared with £263.5 million in 2024. Revenue fell 4% to £4.15 billion from £4.33 billion a year earlier. Total housing completions declined 9% to 15,658 units from 17,225, partly offset by a 3% rise in the average selling price.

    Shares in Weir Group PLC (LSE:WEIR) fell more than 8% after the mining equipment manufacturer reported full-year results that were largely in line with expectations. The stock had already climbed around 38% over the past year. The Glasgow-based group reported adjusted operating profit of £518 million for 2025, matching analyst consensus forecasts. Revenue reached £2.57 billion, representing 6% growth in constant currency. Adjusted earnings per share totaled 123.8p, also in line with projections. For 2026, Weir expects mid-single-digit organic revenue growth and a 50-basis-point improvement in margins.

    Shares of SIG (LSE:SHI) declined even though the building materials distributor reported a 28% increase in full-year underlying operating profit, as difficult weather conditions weighed on trading at the start of 2026. SIG posted underlying operating profit of £32.1 million for the year ended Dec. 31, 2025, up from £25.1 million a year earlier and within its guidance range of £30-35 million. Revenue slipped 1% to £2.59 billion, while like-for-like sales were flat year-on-year. The company recorded a statutory pre-tax loss of £61.7 million, compared with £44.8 million in 2024, after £29.7 million in non-cash impairment charges and £9 million in restructuring costs.

    Beazley PLC (LSE:BEZ) reported profit before tax of $1,146.5 million for 2025, down 19% from $1,423.5 million the previous year, as the specialty insurer navigated softer pricing conditions in the insurance market. The company nonetheless delivered its third consecutive year with profit above $1 billion. Insurance written premiums totaled $6,100.7 million, missing analyst forecasts by 2.1% and declining 1% from $6,164.1 million in 2024.

    Quilter PLC (LSE:QLT) announced record net inflows and a 6% increase in adjusted profit before tax to £207 million for 2025. The wealth manager also unveiled a £100 million share buyback programme and a new distribution policy. Total assets under management and administration rose 18% to £141.2 billion during the year, supported by £8.7 billion of net inflows and positive market performance. Core net inflows reached £9.1 billion, equivalent to 8% of opening assets, up from 5% in 2024.

    Metro Bank Plc (LSE:MTRO) reported underlying profit before tax of £98 million for the year ended Dec. 31, 2025, marking the highest level in its 15-year history and exceeding its cost-reduction targets. Net interest income increased 22% to £460 million, driving a 16% rise in underlying revenue to £585 million. Net interest margin reached 2.98% for the year, up 107 basis points year-on-year, with an exit margin of 3.17% in line with guidance. Underlying operating costs fell 7% year-on-year to £473 million, surpassing the bank’s targeted reduction of 4–5%.

    Meanwhile, the UK services sector recorded its tenth consecutive month of expansion in February, although the pace of new orders softened and job cuts continued, according to data from S&P Global. The S&P Global UK Services PMI Business Activity Index registered 53.9 in February, slightly below January’s five-month high of 54.0. A reading above 50 signals expansion. Service providers reported higher activity levels supported by gradually improving demand, with anecdotal evidence suggesting that improving client confidence this year helped release previously delayed demand.

  • Wood Group shares slip after FCA completes probe into past financial reporting

    Wood Group shares slip after FCA completes probe into past financial reporting

    Shares of John Wood Group PLC (LSE:WG.) declined 0.9% on Wednesday after the Financial Conduct Authority finalized its investigation into the company’s historical financial reporting.

    The regulator’s review examined the period from January 1, 2023, to November 7, 2024. Its conclusions were consistent with those of an independent assessment commissioned by Wood’s board following discussions with the company’s auditor in November 2024.

    Wood said it cooperated fully with the FCA throughout the course of the investigation.

    According to the regulator’s findings, the company has introduced a remediation and governance improvement plan to address the issues identified in the independent review and has already begun implementing the necessary measures.

    The inquiry centered on past financial reporting practices, although the company did not disclose detailed information regarding the specific issues identified.

  • Airbus chosen to enhance drone technology under European Defence Agency program

    Airbus chosen to enhance drone technology under European Defence Agency program

    Airbus SE (EU:AIR) has been awarded a contract by the European Defence Agency to further develop the capabilities of its CAPA-X unmanned aerial system, the company said on Wednesday.

    The initiative forms part of a broader set of projects scheduled to run over a 48-month period, with a combined budget of around €1.1 million.

    Airbus subsidiary Survey Copter has been selected to participate in the M2UAS project under the agreement with the European Defence Agency.

  • Oil extends rally as Middle East tensions threaten supply; Goldman revises forecasts upward

    Oil extends rally as Middle East tensions threaten supply; Goldman revises forecasts upward

    Oil prices moved sharply higher on Wednesday, building on strong gains from the previous two sessions as escalating hostilities between the United States, Israel and Iran intensified concerns about possible disruptions to global crude supplies.

    At 03:40 ET (08:40 GMT), Brent crude futures for May delivery rose 3.5% to $84.25 per barrel, while U.S. West Texas Intermediate crude futures climbed 3.4% to $77.10 per barrel.

    Both benchmarks had already finished nearly 5% higher on Tuesday, following roughly 7% gains earlier in the week. Brent prices also touched their highest level since July 2024.

    Markets focus on supply risks

    The conflict in the Middle East, which began over the weekend after coordinated U.S. and Israeli strikes on Iranian military targets killed Supreme Leader Ayatollah Ali Khamenei, continued to escalate on Wednesday. U.S. Admiral Brad Cooper, who commands American forces in the region, said more than 2,000 Iranian targets have been struck.

    Iran has retaliated by launching missiles and drones toward neighboring Arab countries that host U.S. military bases. Tehran has also issued warnings to global shipping operators and targeted oil tankers moving through the Strait of Hormuz, a narrow passage that carries roughly one-fifth of global oil shipments.

    The risk to traffic through Hormuz — a vital export route for crude from major producers such as Saudi Arabia, Iraq and the United Arab Emirates — has introduced a significant geopolitical risk premium into oil markets.

    “The disruption to oil flows through the Strait is starting to affect oil flows further upstream,” ING analysts said in a note.

    They also referenced reports indicating that Iraq has begun curtailing production at the Rumaila field, the country’s largest, as well as at West Qurna 2, with around 1.2 million barrels per day reportedly taken offline.

    Goldman upgrades crude outlook for 2026

    Goldman Sachs on Wednesday increased its second-quarter 2026 price forecasts, raising its expected Brent average by $10 to $76 per barrel and its WTI projection by $9 to $71.

    The bank said its projections assume that reduced flows through the Strait of Hormuz could lead to sharp declines in OECD inventories and Middle Eastern oil production during March.

    Goldman noted that risks around its forecast remain skewed to the upside, citing the possibility of prolonged export disruptions through the Strait and potential damage to oil production infrastructure.

    “If Hormuz volumes were to remain flat for 5 additional weeks, Brent prices would likely reach $100, a level associated with larger demand destruction to prevent inventories from falling to critically low levels,” the bank said in a note.

    That said, “the supply disruption tailwind could quickly turn into a demand destruction headwind. A prolonged conflict and sustained high prices may fuel oil-driven inflation and amplify economic risks stemming from renewed tariff uncertainty. That combination could weigh on consumption and ultimately pressure oil prices,” said Nikos Tzabouras, Senior Market Analyst at Tradu.com.

    Trump signals support for tanker transit through Hormuz

    Traders are also monitoring comments from U.S. President Donald Trump, who said the U.S. Navy could escort commercial vessels if required and promised government backing to help guarantee safe passage.

    “The promise of such guarantees comes as insurers are cancelling war risk coverage for vessels moving through the Strait of Hormuz,” ING analysts wrote.

    “This is welcome news, but clearly it won’t happen overnight,” they added.

    Although the military escalation has provided strong support for oil prices, signs that governments are working to secure shipping routes could limit further gains in the short term.

  • Gold rebounds after steep slide as Iran tensions revive safe-haven demand

    Gold rebounds after steep slide as Iran tensions revive safe-haven demand

    Gold prices rose during Asian trading on Wednesday, recovering part of the sharp losses seen in the previous session as investors reassessed demand for safe-haven assets amid escalating tensions between the United States and Iran and a strong rally in the U.S. dollar.

    Spot gold gained 1.2% to $5,150.63 per ounce by 01:45 ET (06:45 GMT), while U.S. gold futures advanced 0.8% to $5,166.40.

    The precious metal had dropped 4.5% on Tuesday as a surge in the dollar and higher U.S. Treasury yields weighed heavily on bullion prices.

    Strong dollar curbs gold’s upside

    The US Dollar Index held steady after climbing nearly 1.5% over the previous two trading sessions, reaching a six-week high overnight as investors sought safety and scaled back expectations for Federal Reserve rate cuts in the near term.

    A stronger dollar typically limits gains in gold because it makes the metal more expensive for buyers using other currencies, which can reduce global demand.

    At the same time, geopolitical risks in the Middle East helped provide some support to bullion. The conflict between the United States and Iran intensified after coordinated U.S. strikes on targets tied to Tehran triggered threats of retaliation from Iranian officials, raising fears of broader instability across the region.

    Investors are increasingly concerned that the confrontation could disrupt energy flows and potentially involve additional regional players.

    Rising oil prices complicate central bank outlook

    Oil prices remained elevated as markets evaluated the risk of supply disruptions, particularly along major shipping routes in the Gulf. Higher crude prices have added to inflation concerns, complicating the policy outlook for central banks worldwide.

    Analysts noted that gold is currently being pulled in two directions: safe-haven demand driven by geopolitical uncertainty on one side, and macroeconomic pressure from a stronger dollar and higher bond yields on the other.

    Among other precious metals, silver rose 3% to $84.44 per ounce after dropping more than 8% in the previous session.

    Platinum climbed 2.8% to $2,148.50 per ounce following a roughly 10% plunge on Tuesday.

    Benchmark copper futures on the London Metal Exchange edged up 0.8% to $13,049.33 per ton, while U.S. copper futures rose 1.1% to $5.89 per pound.

    In China, official PMI figures indicated that manufacturing activity remained in contraction territory, while private-sector surveys from RatingDog PMI pointed to stronger-than-expected expansion, highlighting mixed signals about the pace of economic activity in the country.