Blog

Oracle Power PLC (LSE:ORCP) has reported notable advancements across its portfolio during the second quarter of 2025. In Western Australia, the company achieved promising drilling outcomes at its Northern Zone gold project, laying the groundwork for a potential inaugural Mineral Resource Estimate. Simultaneously, exploration at the Blue Rocks site uncovered new copper-bearing zones, widening the scope of its mineral prospects.

In Pakistan, Oracle made headway in its renewable energy and green hydrogen ventures, bolstered by renewed and extended support from government entities—an endorsement that strengthens the long-term outlook of these strategic initiatives. Additionally, the company secured £318,600 in new funding, which it plans to deploy across its active developments, underscoring investor confidence in its growth trajectory.

About Oracle Power PLC

Oracle Power PLC is a global energy and resource development firm focused on projects in Western Australia and Pakistan. The company is engaged in the exploration of gold, copper, and silver, as well as the development of renewable energy infrastructure, including cutting-edge green hydrogen 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.

Warehouse REIT PLC (LSE:WHR) has shifted its support to an improved all-cash offer from Blackstone Inc., distancing itself from a rival proposal made by Tritax Big Box REIT plc. The latest bid from Blackstone, priced at 115.0 pence per share, outpaces the mixed cash-and-stock alternative offered by Tritax. In light of the offer’s clarity and superior financial terms, the independent board members of Warehouse REIT are now urging shareholders to back Blackstone’s deal.

The move comes amid strong financial performance by Warehouse REIT, which has recently posted solid gains in revenue and profit. Market indicators reflect ongoing positive momentum, though technical signals warn of possible overbought conditions. Valuation analysis suggests the shares remain attractively priced, further supported by a healthy dividend yield. Strategic steps such as refinancing debt and securing key lease agreements have reinforced the company’s balance sheet. However, uncertainty lingers following the rejection of a separate acquisition approach.

About Warehouse REIT PLC

Warehouse REIT PLC is a UK-based real estate investment trust specializing in the acquisition and management of warehouse and logistics properties. It focuses on serving businesses that need space for storage, distribution, and transportation operations.

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.

Futures for the Dow Jones, S&P 500, and Nasdaq indicate a relatively steady start to trading on Thursday, as investors seem hesitant after a mostly positive session on Wednesday.

Lingering doubts over President Donald Trump’s trade tactics continue to keep some market participants cautious. The ongoing threat of increased tariffs on various countries and sectors is making traders more reserved.

“Trump’s constant barrage of changing numbers has made investors skeptical,” said Dan Coatsworth, investment analyst at AJ Bell. “With many announcements being reversed or delayed, the market is shifting focus back to economic indicators and company earnings for guidance.”

After a choppy and flat Tuesday, stocks saw mostly gains on Wednesday. Although early gains were trimmed, all major indexes finished comfortably in the green.

The Nasdaq led the gains, rising 192.87 points (0.9%) to close at an all-time high of 20,611.34. The S&P 500 rose 37.74 points (0.6%) to 6,263.26, and the Dow climbed 217.54 points (0.5%) to end at 44,458.30.

The optimism partly stems from reports that U.S.-EU trade talks are progressing, with the Financial Times noting that negotiators are close to finalizing a deal that would include higher tariffs than those granted to the U.K.

Nvidia (NASDAQ:NVDA), a standout in the AI sector, jumped 1.8%, briefly becoming the first company to hit a $4 trillion market cap.

Trade issues remained in focus as President Trump posted several tariff threat letters on Truth Social, targeting leaders from the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka, adding to the earlier group of 14 countries.

Meanwhile, the Federal Reserve published minutes from its June meeting, revealing broad agreement among officials to maintain a “wait and see” approach, holding off on rate hikes until inflation and economic data become clearer. They characterized monetary policy as moderately restrictive amid steady growth and a strong labor market.

Housing stocks were among the day’s top performers, with the Philadelphia Housing Sector Index climbing 2.9% to its best close in over four months. Gold miners also advanced, as the NYSE Arca Gold Bugs Index rose 1.9%.

Biotech and utilities sectors showed solid gains, while oil services pulled back, with the Philadelphia Oil Service Index declining 1.1% after strong gains the day before.

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 extended gains for a fourth day on Thursday, fueled by growing optimism around a potential trade agreement between the U.S. and the European Union.

EU Trade Commissioner Maros Sefcovic indicated significant progress toward a trade framework, suggesting a deal could be reached within days.

In economic news, Germany’s inflation rate eased to its lowest level in eight months in June, confirming earlier estimates. According to final figures from Destatis, falling energy costs and a slowdown in food price increases helped bring consumer price inflation down to 2.0% in June from 2.1% in May—a level not seen since October 2024.

Among European indices, the U.K.’s FTSE 100 gained 1.0%, while France’s CAC 40 rose 0.3%, and Germany’s DAX hovered just above flat.

On the corporate front, Nordex SE (TG:NDX1) climbed after reporting robust second-quarter order intake totaling 2.3 GW. DCC (LSE:DCC), a provider of sales and marketing support services, also advanced following a first-quarter operating profit in line with market expectations.

Jupiter Fund Management (LSE:JUP) saw shares jump after announcing its agreement to acquire U.K.-based asset manager CCLA, which focuses on non-profit sector clients.

WPP (LSE:WPP), the global advertising and communications giant, gained momentum after appointing Cindy Rose from Microsoft as its new CEO.

Conversely, Barry Callebaut AG (TG:BCLN) shares declined after the chocolate manufacturer lowered its sales volume forecast for the second time in three months, citing ongoing volatility in cocoa bean prices.

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.

Grafton Group plc (LSE:GFTU) saw its shares drop more than 6% on Thursday after the company flagged a loss of momentum in trading, despite delivering first-half results in line with market forecasts.

The building materials supplier reported £1.25 billion in revenue for the six months to June, up 10% year-on-year. However, like-for-like sales growth of 2.4% came in just shy of Stifel’s 2.6% projection, with analysts noting a modest deceleration in May and June.

Performance varied by region. Ireland led the pack with 3.7% growth in distribution and 7.6% in retail. Spain and the Netherlands followed, with gains of 6.9% and 2.8%, respectively. In contrast, the U.K. posted a meager 0.2% increase, supported largely by price adjustments amid ongoing weakness in volumes.

Finland was the weakest performer, declining 4.2%, though Stifel noted that management changes could help stabilize the market. Meanwhile, the group’s manufacturing division expanded 5.2%, helped by a rise in construction activity from housebuilders.

Despite the softer trends, Stifel reiterated its “Buy” rating on Grafton and held its 1,175p price target, implying an 18.1% upside from Tuesday’s close at 995p. The broker emphasized that the results aligned with both its expectations and broader consensus.

Looking ahead, management indicated it does not anticipate volume growth in 2025 and plans to closely watch trading patterns over the summer months.

Grafton, which generates 45% of its revenue from Ireland and Spain, continues to benefit from a robust balance sheet and recent acquisitions, according to Stifel.

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.

British fashion house Mulberry (LSE:MUL) has secured £20 million ($27.1 million) in fresh funding, the company revealed on Thursday, with backing from its two primary investors — Challice and Frasers Group (LSE:FRAS).

The capital injection comes at a critical moment for the luxury brand, which reported a 21% year-over-year decline in annual revenue. In response to the announcement, Mulberry’s stock price slid 5.1% in Thursday trading.

Alongside the funding news, Mulberry announced a key boardroom change: James France, an executive at Frasers Group, has joined its board of directors.

The move signals a deepening relationship between Mulberry and Frasers, as the retailer seeks to navigate challenging market conditions and reposition itself for long-term growth.

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 slipped Thursday as investors digested a new wave of tariffs announced by President Donald Trump. Brazil has become the latest target of Trump’s trade measures, with the president criticizing the country over its handling of a political ally. Meanwhile, minutes from the Federal Reserve’s recent meeting indicate some policymakers see potential for interest rate cuts later this year. Additionally, shares of WK Kellogg (NYSE:KLG) jumped in after-hours trading amid reports that Ferrero is close to acquiring the cereal maker.

Futures Move Lower

Following Trump’s threat to impose higher tariffs on Brazil, U.S. futures dropped on Thursday, signaling fresh tensions in the ongoing trade disputes.

By 03:42 ET, Dow futures were down 125 points (0.3%), S&P 500 futures slipped 15 points (0.2%), and Nasdaq 100 futures declined 47 points (0.2%).

The major indices had gained ground in the previous session, lifted by Federal Reserve minutes that fueled hopes of interest rate cuts later this year.

Tech giant Nvidia (NASDAQ:NVDA) led gains with a 1.8% rise, briefly becoming the first company ever to reach a $4 trillion market valuation during trading. This surge helped push the Nasdaq Composite to a record closing high.

Analysts from Vital Knowledge explained, “[T]he big driver of the recent advance is a belief that tariffs will either be watered down from the current threat levels and/or have only a benign effect on inflation while other categories of the economy […] cause prices in aggregate to move in a disinflationary direction, opening the door for the Fed to resume policy easing.”

Trump Targets Brazil with 50% Tariffs

Despite these market gains, ongoing trade conflicts have kept some investors cautious about the economy’s path.

In his latest announcement, Trump declared plans to impose a 50% tariff on all imports from Brazil, effective August 1. This move partly responds to his frustration over Brazil’s treatment of former president Jair Bolsonaro, an ally of Trump’s who faces trial for allegedly attempting a coup.

In a letter addressed to Brazil’s current president Luiz Inácio Lula da Silva, Trump called Bolsonaro’s treatment “an international disgrace.”

These 50% tariffs represent the highest rates among a series of tariff letters Trump issued this week, following a delay of the reciprocal duties deadline to August 1 from an earlier planned date of Wednesday.

Analysts have suggested that political motives likely underlie the decision more than trade disputes, noting Brazil is the U.S.’s 15th-largest trading partner and a rare net importer of American goods.

Trump also reaffirmed plans to impose a 50% tariff on imported copper, citing a national security report emphasizing the metal’s importance.

Federal Reserve Minutes Draw Attention

Trump’s tariffs continue to contribute to broad uncertainty, impacting consumer confidence and complicating investment decisions.

The Federal Reserve has identified tariffs as a key factor in its cautious approach to future rate cuts, with concerns that tariffs could increase inflation and slow growth.

Minutes from the June Fed meeting revealed that only “a couple” of policymakers were ready to consider lowering borrowing costs as soon as this month. This contrasts with Trump’s frequent calls for faster rate cuts and his criticism of Fed Chair Jerome Powell, whom he has even urged to resign.

Nonetheless, Powell has maintained a cautious tone while leaving the door open for rate reductions this year. According to the minutes, “most participants” believed that easing monetary policy would be appropriate later in 2025, with tariff-induced price shocks expected to be “temporary or modest.”

WK Kellogg Shares Surge on Ferrero Acquisition Report

Shares of WK Kellogg (NYSE:KLG) jumped sharply in extended trading following a Wall Street Journal report that Italian family-owned confectioner Ferrero is nearing a roughly $3 billion deal to acquire the cereal maker.

Citing sources familiar with the talks, the WSJ reported Ferrero—known for brands like Ferrero Rocher and Nutella—could finalize the acquisition as early as this week if negotiations proceed smoothly.

The deal would combine Ferrero with WK Kellogg, the well-known producer of cereals like Froot Loops and Rice Krispies, staples in supermarkets.

Ferrero has been actively seeking acquisitions in the U.S. as part of its international growth strategy, having previously acquired Blue Bunny-maker Wells Enterprises and Nestlé’s U.S. chocolate business.

WK Kellogg itself emerged about two years ago when Kellogg spun off its North American cereal segment and now faces changing consumer habits amid inflation and growing health awareness.

TSMC Reports Strong Sales Beat

Taiwan Semiconductor Manufacturing Co (TSMC) posted a 39% increase in second-quarter sales on Thursday, beating forecasts thanks to strong global demand for AI chips.

The company reported NT$933.8 billion ($31.9 billion) in sales for April-June, exceeding estimates of NT$927.83 billion and its own previous guidance of $28.4 billion to $29.2 billion.

TSMC’s robust revenue highlights the growing appetite worldwide for advanced semiconductors, especially those designed for artificial intelligence workloads.

As the world’s largest contract chipmaker, TSMC counts major customers including Nvidia and Apple (NASDAQ:AAPL).

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 shares moved higher on Thursday as investors showed resilience despite fresh trade tariff measures announced by U.S. President Donald Trump.

By 07:05 GMT, Germany’s DAX climbed 0.4%, France’s CAC 40 added 0.4%, and the U.K.’s FTSE 100 advanced 0.8%.

Latest U.S. tariff announcements

On Wednesday, President Trump issued new tariff directives targeting imports from at least seven additional countries, building on similar notifications sent earlier in the week to 14 other nations.

He also imposed a 50% tariff on Brazilian goods following tensions with Brazil’s President Luiz Inacio Lula da Silva, who warned that Brazil would respond with retaliatory measures.

Additionally, Trump confirmed a 50% tariff on copper, following through on his previous threat.

Despite these developments, European markets found some encouragement as the European Union avoided the latest tariff wave, raising hopes that a trade agreement might be near.

EU trade commissioner Maros Sefcovic remarked that substantial progress has been made toward a trade framework, with a deal potentially achievable within days.

German inflation aligns with ECB target

German inflation slowed to 2.0% in June, matching the European Central Bank’s target rate and confirming earlier estimates.

Consumer prices harmonized across the EU had risen 2.1% year-over-year in May.

Economists at Capital Economics expect the ECB to hold off on further rate cuts until September, citing ongoing trade uncertainties and the euro’s recent strength.

In June, the ECB cut its key deposit rate by 25 basis points to 2.0%, marking the eighth reduction in a year.

U.S. labor data and Fed speeches in focus

Across the Atlantic, market watchers will monitor weekly jobless claims as an indicator of labor market health, while Federal Reserve officials Christopher Waller and Mary Daly are scheduled to speak during the day.

Corporate updates

German luxury automaker Porsche (BIT:1PORS) anticipates a €300 million ($351 million) negative impact on earnings from absorbing U.S. import tariffs in April and May, ahead of its quarterly results release.

Advertising giant WPP (LSE:WPP) announced Cindy Rose, a senior Microsoft executive, as its incoming CEO. Rose, who has been on WPP’s board since 2019, will succeed Mark Read on September 1. This appointment follows the company’s recent downward revision of profit forecasts.

Chocolate producer Barry Callebaut (TG:BCLN) reported a 6.3% decline in sales volume over the first nine months of fiscal 2024-25 but saw revenue increase by 56.7% in local currencies, driven by higher cocoa prices.

Meanwhile, activist investor Standard Investments cut its stake in London-listed specialty chemicals firm Johnson Matthey (LSE:JMAT) by half after a six-month campaign prompting significant corporate changes.

Oil prices hold steady

Oil futures were mostly unchanged Thursday as traders weighed trade uncertainties against strong U.S. gasoline demand.

At 03:05 ET, Brent crude futures hovered around $70.19 per barrel, while West Texas Intermediate futures slipped 0.1% to $68.34 per barrel.

Apprehension over how tariffs might affect global demand has encouraged cautious trading, even as geopolitical risk premiums eased following the Israel-Iran truce.

The U.S. Energy Information Administration reported rising crude inventories last week, offset by declines in gasoline and distillate stocks. Gasoline demand increased 6% to 9.2 million barrels per day, according to the EIA.

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 eased on Thursday, pulling back slightly from a two-week high against major currencies as traders appeared unfazed by President Donald Trump’s latest tariff announcements.

By 04:20 ET (08:20 GMT), the Dollar Index—which measures the greenback’s value against a basket of six currencies—slid 0.1% to 97.107, after reaching its highest level since June 25 in the previous session.

Dollar pulls back from highs

Overnight, President Trump once again stirred trade tensions by sending letters to seven additional countries outlining new U.S. tariff rates, adding to 14 other letters sent earlier this week.

He also declared a 50% tariff on imports from Brazil following a dispute with Brazilian President Luiz Inacio Lula da Silva, and confirmed a 50% tariff on copper imports, fulfilling his earlier threats.

Despite these moves, currency markets have shown only muted reactions, apart from the Brazilian real, as traders remain hopeful for deals with major partners such as India and the European Union.

“The dollar is slightly offered this morning, but remains largely a bystander amid tariff chaos,” ING analysts noted.

They added, “The question is what needs to happen for the dollar to take Trump’s tariff manoeuvres seriously. Our perception is that the bar is high for now, but should get lower as we approach the 1 August deadline. If by then trade negotiations with large U.S. partners aren’t at an advanced stage, it will be harder to ignore the higher U.S. tariff rate.”

Economic data continues to be a key driver for the dollar, particularly after the minutes from the last Federal Reserve meeting showed that the cautious, somewhat hawkish sentiment still dominates the FOMC.

Later in the session, jobless claims will be closely watched, and ING added, “the potential FX impact of next week’s CPI figures still looks much bigger than trade news.”

Euro volatility remains subdued

In Europe, EUR/USD inched up 0.1% to 1.1731, with volatility easing amid optimism that a trade deal between the EU and the U.S. may soon be finalized.

EU trade commissioner Maros Sefcovic said on Wednesday that substantial progress had been made on a trade framework and a deal could be reached within days.

“A U.S.-EU trade deal seems imminent, with reports suggesting the European Commission’s interim draft should include asymmetrical tariffs on EU products (likely the 10% base tariff), effectively choosing a de-escalation path. That is likely priced in by now, and barring major surprises in the details of the deal, EUR/USD may stay attached to the 1.170-1.175 area for now,” ING commented.

GBP/USD climbed 0.2% to 1.3608, supported by the UK’s existing trade agreement with the Trump administration.

Brazilian real plunges on tariff threat

In Asia, USD/JPY dipped slightly to 146.29, and USD/CNY edged down 0.1% to 7.1775, with most regional currencies muted as markets digested Trump’s new tariff measures.

USD/BRL surged 2.4% to 5.5766 following Trump’s announcement of a 50% tariff on all Brazilian imports.

These tariffs, set to take effect August 1, partly respond to Trump’s frustration over what he sees as mistreatment of former Brazilian President Jair Bolsonaro, a close political ally.

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.

DCC plc (LSE:DCC) reported a modest decline in operating profit for the first quarter compared to last year, aligning with market expectations, as its energy division saw a small downturn while the technology segment remained steady.

In a pre-AGM trading statement, the FTSE 100 company noted that the first quarter is typically less significant, contributing roughly 15% to 20% of the full-year operating profit. Specific financial details for the quarter were not disclosed.

The company reaffirmed its full-year guidance through March 31, 2026, anticipating solid operating profit growth, continued strategic progress, and ongoing development efforts.

Jefferies analysts highlighted that this guidance aligns with consensus forecasts, which project an EBITA of £632 million for fiscal 2026, up from £618 million in the prior year.

DCC Energy, the group’s largest business unit, performed slightly below last year but met internal expectations, partly due to seasonal weather influences. DCC Technology’s results matched those of the previous year.

No mergers or acquisitions were completed during the quarter, though DCC emphasized an active pipeline of development opportunities.

The company also confirmed its intention to finalize the sale of its Healthcare division in Q2 fiscal 2026, subject to regulatory approval—a deal initially announced in April 2025.

DCC’s ongoing £100 million share buyback program, launched in late May, is now approximately one-third complete. Following the Healthcare sale, the company plans to return up to £600 million to shareholders.

Jefferies continues to anticipate the disposal of DCC’s Technology division during calendar year 2026, likely through multiple transactions, with proceeds expected to be distributed to investors.

Leadership changes were announced effective after the AGM: Kevin Lucey, CFO since 2020, will transition to COO, while Conor Murphy will take over as CFO and join the board as an executive director.

For the fiscal year ended March 31, DCC reported revenues of £18 billion and an adjusted operating profit of £617.5 million. The group has maintained a 13% compound annual growth rate in adjusted operating profit and has increased its dividend every year for 31 consecutive years as a listed company.

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.