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UK equities opened higher on Thursday, buoyed by renewed trade optimism and corporate updates, while the pound hovered near $1.36. The FTSE 100 index rose 0.7% at 0702 GMT, while sterling edged up 0.2%, maintaining levels just above $1.36.

European markets also gained ground, with Germany’s DAX and France’s CAC 40 both up 0.4% in early trading.

Cindy Rose to Lead WPP

Advertising giant WPP (LSE:WPP) announced the appointment of Cindy Rose, a top Microsoft executive, as its next Chief Executive Officer, effective September 1, 2025. Rose, who currently serves as COO of Global Enterprise at Microsoft (NASDAQ:MSFT), will take over from Mark Read, ending his seven-year tenure at the helm. Rose has served as a non-executive director on WPP’s board since 2019.

Standard Investments Halves Johnson Matthey Stake

Activist investor Standard Investments has slashed its stake in Johnson Matthey (LSE:JMAT) from 9.52% to 4.75%, according to new regulatory filings. The move follows a months-long campaign that pressured the specialty chemicals firm into a strategic overhaul. Shares have rallied over 35% since the campaign began last December, rebounding to more than £18, from a low of £13.52.

Vistry Sees H1 Profit Fall

Vistry Group (LSE:VTY) reported a 34% drop in pre-tax profit for the first half of 2025, totaling £80 million, as home completions declined to 6,800 units, down from 7,792 a year earlier. Group revenue for the period is projected to be around £1.8 billion, with average sales rates holding at 1.022 homes per outlet per week.

PageGroup Faces Weaker Hiring Market

PageGroup PLC (LSE:PAGE) posted a 10.5% decline in Q2 gross profit to £194.8 million (constant currency), citing a slowdown in hiring activity. Permanent placements fell 11.3%, while temporary recruitment slipped 8.2%. The company’s net cash position dropped to £10 million from £54 million in the previous quarter.

Ofcom Updates Royal Mail Delivery Rules

Ofcom has introduced new minimum delivery performance requirements for Royal Mail (LSE:IDS) aimed at reducing delays. The regulator now requires 99% of mail to be delivered no more than two days late. Adjusted targets include reducing First Class next-day delivery goals from 93% to 90% and Second Class three-day delivery from 98.5% to 95%. The reforms could help Royal Mail save up to £425 million ($578.3 million).

Thames Water Eyes Rescue Bid

Thames Water is reportedly considering a last-minute rescue proposal led by Rupert Redesdale, a former Liberal Democrat energy spokesperson, and Muinin Holdings, the Financial Times reported Thursday.

Revolut Targets $65 Billion Valuation in New Fundraise

Digital banking firm Revolut is in advanced talks to raise fresh capital at a $65 billion valuation, according to a separate Financial Times report on Wednesday. If successful, it would mark one of the largest private fintech valuations globally.

Trump Escalates Tariff Actions

On the international front, U.S. President Donald Trump expanded his trade offensive, sending out additional letters on Wednesday detailing new tariff rates targeting imports from seven more countries, adding to 14 notices issued earlier in the week. He also imposed a 50% tariff on Brazilian imports after a diplomatic clash with President Luiz Inacio Lula da Silva, who vowed to retaliate.

European markets remained upbeat, bolstered by signs of progress in EU–U.S. trade discussions, with EU trade commissioner Maros Sefcovic expressing optimism that a deal could be finalized soon.

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.

UK postal regulator Ofcom has unveiled a revised set of delivery performance standards for Royal Mail (LSE:IDS), a move that could lead to cost reductions of up to £425 million ($578.3 million) for the national postal operator.

Under the updated guidelines, Royal Mail is now required to deliver 99% of mail within two days of the intended timeframe, tightening control on delays while allowing greater operational flexibility.

Delivery benchmarks have also been relaxed: the target for First Class post arriving the next day has been lowered from 93% to 90%, and for Second Class mail, the threshold for three-day delivery has been adjusted from 98.5% to 95%.

The changes, which were officially announced by Ofcom on Thursday, form part of the regulator’s ongoing review of universal postal service obligations and are aimed at balancing consumer expectations with the financial sustainability of the postal network.

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.

Gold prices edged slightly higher during Thursday’s Asian session, staying within a tight range, while copper continued its sharp ascent after U.S. President Donald Trump officially confirmed a 50% tariff on copper imports, set to take effect August 1.

Broader metals gained ground as the U.S. dollar weakened following mixed signals about the Federal Reserve’s timeline for cutting interest rates. Despite Thursday’s dip, the greenback retained most of its recent rebound from multi-year lows.

Gold Futures Hold Steady Despite Trade Tensions

Spot gold rose 0.3% to $3,323.72 an ounce, with September gold futures up by the same margin at $3,332.45 as of 01:34 ET (05:34 GMT). The precious metal remained rangebound between $3,300 and $3,450 per ounce—levels it has held for weeks—amid conflicting forces in global markets.

While Trump’s announcement of sweeping trade tariffs sparked some investor attention, gold saw only limited demand as a safe haven. Several official letters confirmed the upcoming duties on key U.S. trade partners, but the delay in implementation until August provided a glimmer of hope for potential trade agreements.

Uncertainty Over Fed Policy Weighs on Gold Direction

The Fed’s June meeting minutes revealed ongoing debate over the timing of future rate cuts, with a majority still supporting reductions this year. However, concerns linger over inflation risks tied to Trump’s tariff policies.

Federal Reserve Chair Jerome Powell echoed those concerns, stating that uncertainty around the new tariffs remains the central factor holding the Fed back from cutting interest rates. Despite these headwinds, the dollar’s pullback offered temporary support to bullion prices.

In addition to policy uncertainty, diminished geopolitical tensions in the Middle East have reduced demand for traditional safe haven assets. As a result, gold has underperformed relative to other precious metals in recent weeks.

Silver and platinum continued to outperform gold. Platinum futures rose 0.3% to $1,387.60 per ounce, while silver gained 0.2% to $36.710 per ounce, keeping both close to recent multi-year highs.

Copper Prices Extend Rally Following Tariff Confirmation

Copper futures in the U.S. jumped 1.4% to $5.6183 per pound, remaining near the record levels reached earlier this week. On the London Metal Exchange, benchmark copper gained 0.5% to $9,687.10 per metric ton, recovering from a recent pullback.

Speaking Wednesday evening, President Trump said he would proceed with “50% tariffs on all U.S. copper imports, effective from August 1.” The move is widely expected to disrupt copper supply chains, given that over half of the copper used in the U.S. is imported.

According to Trump, the steep duties aim to “shore up domestic copper production,” though analysts remain skeptical that local output can scale quickly enough to offset lost imports.

The announcement initially rattled London copper markets due to expectations of reduced U.S. import demand. Nevertheless, prices have rebounded, fueled by strong overall demand and tight global inventories.

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.

Oil prices hovered close to recent two-week highs during Thursday’s Asian session, as traders weighed the impact of fresh trade measures announced by U.S. President Donald Trump and reacted to an unexpected surge in American crude stockpiles, which has fueled concerns about weakening demand.

By 21:55 ET (01:55 GMT), September contracts for Brent crude slipped 0.1% to $70.09 a barrel, while West Texas Intermediate (WTI) dipped 0.2% to $68.23 per barrel.

Despite the modest pullback, both benchmarks remained elevated after rising earlier in the week, bolstered by renewed geopolitical instability in the Middle East following attacks by Houthi rebels on shipping routes in the Red Sea.

Trump Unleashes 50% Tariff on Copper

In a bold move on Wednesday, President Trump imposed a 50% tariff on copper imports, effective August 1, saying the decision aimed to revitalize the domestic copper sector.

He also announced a spike in tariffs on Brazilian goods—raising the rate from 10% to 50%—just hours after a public war of words with Brazilian President Luiz Inácio Lula da Silva, who had referred to Trump as an “unwanted emperor” during a recent BRICS summit.

Lula hit back at the tariff announcement with a warning: “any new tariffs would be met with retaliatory actions.”

The White House has begun issuing tariff notifications to several key U.S. trade partners. So far, this includes 25% levies on products from South Korea and Japan, among others. The escalating tit-for-tat measures have stoked fears of a broader trade conflict that could erode global energy demand—counteracting the market’s tight supply dynamics.

U.S. Oil Inventories See Biggest Rise Since January

Adding to market volatility, fresh data from the U.S. Energy Information Administration (EIA) revealed a sharp 7.07 million barrel increase in domestic crude stockpiles for the week ending July 4—the largest single-week gain since January.

The build caught analysts off guard, as consensus forecasts had pointed to a drawdown of approximately 2 million barrels, largely due to lower refining activity during the Independence Day holiday stretch.

However, there was a silver lining. Gasoline inventories fell by 2.65 million barrels, hinting at strong fuel consumption during the July 4 holiday.

This comes as oil markets digest last week’s announcement from OPEC+ to lift output by 548,000 barrels per day starting in August, fueling speculation that a potential supply overhang could emerge 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.

The FTSE 100 climbed to a historic peak today as worries over the potential fallout from Donald Trump’s tariff threats faded, while excitement around artificial intelligence technology captured investors’ attention.

Within just 30 minutes of the London Stock Exchange opening, the index representing the UK’s largest companies had jumped 77.34 points, or 0.87%, reaching 8944.36. This surpassed the previous record of 8908.3 set in March, pushing the index up more than 8% so far this year. Mining shares were among the top performers.

Richard Hunter, head of markets at interactive investor, explained: “Increasing cynicism about the veracity of tariff threats and a rekindling of the AI trade drove markets higher, with the Nasdaq setting a record closing high.

“Investors are apparently running with the TACO (Trump Always Chickens Out) theme, assuming that the more recent deals and negotiations which have taken place will continue to override the hefty threats emanating from the White House.

“Meanwhile, minutes from the Federal Reserve revealed that the central bank remains on alert for inflationary tariff impacts, although to date these have been limited with the economy clearly holding up. As such, the consensus is that, all things being equal, an interest rate cut may not come until the end of the year.

“The resurgence of AI euphoria boosted the mega cap technology stocks, with Nvidia briefly hitting a market cap of $4 trillion, becoming the first company to do so.

“The continuing risk-on attitude leaves each of the main indices comfortably ahead for the year despite the ‘Liberation Day’ wobbles, with the Dow Jones having added 4.5%, and the more technology influenced S&P500 and Nasdaq rising by 6.5% and 6.7% respectively.”

Matt Britzman, senior equity analyst at Hargreaves Lansdown, added: “Investors have voted with their wallets, brushing aside tariff uncertainty to send risk-on assets higher.

“If all-time highs for NVIDIA and Bitcoin are anything to go by, markets seem to be pricing in very little chance of any meaningful disruption to the bull party, at least in the near term. US markets closed higher yesterday, and European stocks have joined in this morning, with the FTSE 100 trading up at the open.

“US investors looked the other way as President Trump issued another wave of tariff letters. But uncertainty is still in the air, as investors gear up for an important earnings season in the coming weeks. So far, tariffs haven’t made a noticeable dent in inflation, but the real test is whether they’ll start to weigh on corporate earnings.”

Bitcoin also surged to a new milestone on Wednesday, breaking past $112,000 for the first time. The world’s largest cryptocurrency has gained roughly 20% this year, despite a dip below $100,000 in late June.

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.

Vistry Group PLC (LSE:VTY) reported first-half 2025 profits in line with expectations, alongside significant progress in reducing net debt to approximately £295 million as of June 30, 2025. The company successfully refinanced its credit facilities, extending maturities to April 2028, positioning itself to capitalize on the UK Government’s £39 billion Affordable Homes Programme. Vistry’s robust forward order book and strategic partnerships underpin its anticipated increase in affordable housing delivery during the second half of 2025. Additionally, the company contributed £12.8 million in support of affordable housing construction as part of its engagement with the UK Competition and Markets Authority.

Vistry Group’s outlook benefits from strong corporate developments that demonstrate prudent financial management and a focus on enhancing shareholder value. However, a relatively high price-to-earnings ratio and ongoing profitability challenges temper the outlook. Technical indicators present a mixed picture, suggesting some investor caution.

More about Vistry Group

Vistry Group PLC is a leading UK housebuilder specializing in strategic partnerships, regeneration, and urban renewal projects. The company leverages strategic land opportunities and emphasizes sustainability and efficiency through advanced manufacturing methods. Vistry is well-positioned to support the UK Government’s housing objectives, playing a key role in the delivery of affordable homes.

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.

Pantheon Resources PLC (LSE:PANR) has commenced mobilization of the Nabors 105AC rig to the Dubhe-1 pad on Alaska’s North Slope, targeting the Ahpun Topset reservoir. This appraisal well is designed to evaluate the main reservoir horizon and identify additional pay zones, with potential to upgrade the company’s resource estimates and valuation. Plans include a possible lateral completion and a long-term flow test to confirm oil production capacity and pipeline-quality gas, supporting Pantheon’s financing strategy. The company also updated its total voting rights following the issuance of new ordinary shares, impacting shareholder disclosure requirements.

Pantheon Resources continues to face financial challenges marked by unprofitability and negative cash flows, partly mitigated by a stable balance sheet. Technical indicators reflect bearish momentum, though recent corporate developments, such as a successful fundraise and strategic leadership changes, provide a modestly improved outlook.

More about Pantheon Resources

Pantheon Resources plc is an AIM-listed oil and gas company focused on the development of its wholly owned Ahpun and Kodiak fields on Alaska’s North Slope. It holds independently certified contingent recoverable resources estimated at approximately 1.6 billion barrels of ANS crude and 6.6 trillion cubic feet of associated natural gas. The company aims to achieve a sustainable market valuation of $5–$10 per barrel of recoverable resources by the end of 2028, leveraging proximity to existing infrastructure to reduce development time and costs.

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.

Central Asia Metals PLC (LSE:CAML) released its H1 2025 operations update, highlighting zero lost time injuries and steady production at its Kounrad copper recovery plant and Sasa zinc-lead mine. The company is advancing key capital projects at Sasa, including the development of a dry stack tailings facility and transitioning to paste-fill mining, while updating production guidance for zinc and lead. Exploration continues in Scotland and Kazakhstan, supported by a strong financial position with a net cash balance of $42.9 million. Additionally, CAML announced a revised takeover offer for New World Resources Ltd, valuing the target at around A$230 million.

The company’s outlook is underpinned by solid financial health and attractive valuation metrics. Positive corporate developments further bolster growth prospects, while technical indicators suggest a neutral stock stance.

More about Central Asia Metals

Central Asia Metals, listed on AIM, operates the Kounrad copper recovery facility in Kazakhstan and the Sasa zinc-lead mine in North Macedonia. The company holds an 80% interest in CAML Exploration, focused on early-stage projects in Kazakhstan, and a 28.4% stake in Aberdeen Minerals Ltd, which explores base metals in Scotland.

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.

Liontrust Asset Management (LSE:LIO) reported net client outflows totaling £1.1 billion for the quarter ending June 30, 2025. Nevertheless, assets under management and advice held steady at £22.6 billion. The firm has witnessed increased interest in actively managed funds, especially among institutional investors seeking broader alpha opportunities. Liontrust’s long-term performance track record remains robust, with 73% of its funds ranking in the top two quartiles since launch. The company is making steady progress on its strategic initiatives, including broadening its fund lineup and expanding distribution networks.

Liontrust’s outlook benefits from strong technical indicators and appealing valuation, notably its attractive dividend yield. However, caution is advised due to recent declines in revenue and cash flow. Positive corporate developments contribute to maintaining investor confidence.

About Liontrust Asset Management

Liontrust Asset Management Plc is an independent fund manager specializing in actively managed investment products. The firm emphasizes sustainable investing, economic advantage strategies, multi-asset solutions, and global equities. Liontrust continues to grow its institutional and international presence while diversifying its fund offerings to meet varied investor needs.

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 named Shard Capital Partners LLP as its new joint broker, taking over from RBC Capital Markets to bolster its capital markets strategy and investor engagement. The company is also moving forward with the planned sale of its chrome and platinum group metals (PGM) businesses, with detailed disclosures and a General Meeting notice expected by the end of July 2025.

The company’s outlook is shaped by significant corporate developments and a strategic emphasis on expanding its copper operations. However, financial headwinds such as narrowing profit margins and rising leverage weigh on the overall outlook. Technical indicators point to bearish momentum, while valuation assessment remains unclear due to incomplete data.

About Jubilee Metals Group

Jubilee Metals Group PLC is a multi-commodity metals producer with operations mainly in South Africa and Zambia. The company specializes in chrome and PGM production and actively pursues capital markets initiatives to drive shareholder value.

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.