RC Fornax (LSE:RCFX) has kicked off its financial year ending August 2026 with exceptional momentum, securing the highest quarterly volume of new orders in its history. The surge reflects stronger customer engagement following the Strategic Defence Review, as well as ongoing operational enhancements. Orders from three newly onboarded clients contributed to the upswing, setting a solid foundation for revenue conversion across FY26. With improved governance and reinforced risk management strengthening day-to-day performance, the company enters the remainder of the year with confidence and a clear roadmap for sustained expansion. Key initiatives—including the advancement of Procure X and Smart Suite—are expected to support long-term growth.
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RC Fornax PLC is an AIM-listed provider of outcome-driven engineering solutions for the UK defence sector. Founded in 2021 by RAF veterans Paul Reeves and Daniel Clark, the company is focused on improving project efficiency and delivering cost-effective value for clients across the defence landscape.
Vianet Group plc (LSE:VNET) reported a strong set of interim results for the first half of FY26, underscoring the company’s resilience amid a difficult macroeconomic backdrop. Interim dividends were lifted by 33%, gross margins improved meaningfully, and net debt declined sharply. The ongoing migration from 2G to 4G technology remains a major strategic driver, while investment in AI, advanced analytics, and expansion initiatives in both the U.S. and the forecourt sector are helping to accelerate commercial progress. Both Smart Machines and Smart Zones delivered solid operational performance, with rising levels of recurring revenue and gains in efficiency. Management reiterated confidence in meeting full-year expectations and sustaining growth over the long term.
The outlook for Vianet is underpinned by its steady financial footing, constructive cash flow profile, and stable balance sheet. Still, technical indicators currently point to a bearish tilt, and valuation metrics imply the shares may be trading on the expensive side. With no recent earnings-call commentary or corporate updates, additional forward-looking detail is limited.
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Vianet Group plc is an international provider of connected data solutions, offering hardware, software, and analytics platforms that deliver actionable insights and integrated payment capabilities. Its technology supports operational efficiency and customer engagement across a range of industries, including unattended retail and hospitality, through its Smart Machines and Smart Zones divisions.
Gore Street Energy Storage Fund plc (LSE:GSF) has confirmed that its interim results for the six months ending 30 September 2025 will be published on 15 December 2025. Alongside the release, the company plans to host virtual presentations for both analysts and investors, offering a forum for discussion and reinforcing its ongoing emphasis on transparent communication with the market.
Operationally, the fund continues to show strength in several key areas, including a solid balance sheet and progress on strategic initiatives such as portfolio capacity additions and selective asset disposals. These positives are tempered by variability in revenue and pressure on profitability, reflected in a negative P/E ratio. Even so, the shares have benefited from constructive momentum trends and a notably high dividend yield, which supports their appeal to income-oriented investors. Persistent operational challenges, however, remain a central focus for improvement.
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Gore Street Energy Storage Fund plc is a globally diversified investment vehicle dedicated to energy storage assets. Its portfolio underpins grid stability by helping balance electricity supply and demand while improving the efficiency and reliability of renewable energy generation.
discoverIE Group plc (LSE:DSCV) posted a strong set of interim results for 2025/26, achieving record profitability as revenue rose 3.5% at constant exchange rates and adjusted operating profit increased 5% to £30.2 million. The business generated solid cash flow and continued to build momentum in its acquisition strategy, underscored by a £5.5 million bolt-on deal completed during the period. With a healthy order book and signs of improving end-market demand, the Group remains confident in meeting its full-year earnings guidance and sees significant headroom for further expansion through both organic initiatives and targeted acquisitions.
From an investment perspective, discoverIE’s financial strength—driven by resilient profitability and steady cash generation—stands out as the key supportive factor. Nonetheless, technical indicators present a mixed picture, with some signals suggesting potential short-term bearish momentum. Valuation metrics paint the shares as reasonably attractive but not deeply discounted. The lack of earnings-call commentary or recent corporate announcements limits the availability of additional forward-looking detail.
More about discoverIE Group plc
discoverIE Group plc is an international specialist in designing and manufacturing custom electronic components for industrial clients worldwide. Operating through its Magnetics & Controls and Sensing & Connectivity divisions, the company supplies engineered, application-specific solutions to OEMs across sectors such as medical technology, transport electrification, renewable energy, security, and industrial automation. The Group is focused on delivering sustained organic growth supported by complementary acquisitions, and it maintains a strong commitment to sustainability, targeting a net-zero footprint and holding an ESG ‘A’ rating from MSCI.
Ecora Resources (LSE:ECOR) has reported a notable boost to its growth pipeline following the release of high-grade uranium assay results from the Patterson Corridor East project, where the company holds a 2% Net Smelter Return royalty. The findings—published by project operator NexGen Energy—point to substantial uranium mineralisation that could enhance the long-term value of Ecora’s royalty portfolio and deepen its exposure to key energy-transition commodities. The update reinforces Ecora’s strategic intent to prioritise assets aligned with electrification demand, supporting both future returns and its competitive position in the critical minerals space.
The company’s near-term outlook is shaped by constructive technical signals and favourable sentiment from recent earnings discussions, reflecting momentum in the broader critical-minerals segment. That said, softer financial performance—marked by lower revenue and pressure on margins—creates headwinds, and the negative P/E ratio continues to challenge valuation appeal. Even so, Ecora’s deliberate shift toward base-metal royalties and ongoing deleveraging provide a foundation for potential recovery and longer-term growth.
More about Ecora Resources
Ecora Resources is a global royalty and streaming company centred on critical minerals essential to the energy transition. Having evolved away from its legacy coal portfolio, the business now focuses on commodities such as copper, nickel, cobalt, and other minerals tied to electrification. Its strategy prioritises acquiring royalties on low-cost, long-life operations in well-established mining jurisdictions, building a sustainable portfolio aligned with future-focused demand trends.
On the Beach Group plc (LSE:OTB) has published its financial results for the year ending 30 September 2025, reaffirming its strategy of reshaping the online beach-holiday market. The company continues to capitalise on its established brand, tech-driven platform, and asset-light model, reinforcing its ability to compete with traditional travel operators. Management emphasises ongoing opportunities for growth as the business remains profitable and consistently cash-generative.
Although the group has seen a recent dip in revenue, its broader outlook remains supported by stable underlying performance. Technical indicators currently point to a bearish trend, which weighs on the near-term momentum picture. From a valuation standpoint, the shares appear reasonably priced, offering neither a clear discount nor significant upside based on present metrics. The lack of recent earnings-call commentary or material corporate developments limits further insight into management’s forward priorities.
More about On the Beach
On the Beach Group plc is a prominent UK-based online package-holiday provider, specialising in beach-focused travel. Known for its innovative technology and customer-first approach, the company operates on a low-cost, asset-light model that directly challenges legacy tour operators and established online travel agents, offering competitive value across its holiday offerings.
Shaftesbury Capital PLC (LSE:SHC) delivered another upbeat trading update, underscored by near-full occupancy across its West End holdings and a notable surge in leasing activity. The company has completed 367 leasing deals so far this year, securing £30.2 million in new contracted rent—well ahead of prior rental benchmarks. With its active asset management approach and broad mix of destination-led properties, management signals confidence in further growth, supported by a solid balance sheet and ample liquidity. Recent selective acquisitions and a newly arranged £300 million credit facility further reinforce the group’s financial flexibility and long-term investment capacity.
Management’s outlook is shaped by continued revenue expansion and improving profitability metrics, alongside what appears to be an appealing valuation profile, including a modest P/E ratio and a healthy dividend yield. While technical indicators are mixed—showing mild short-term weakness against generally improving momentum—there are no recent earnings calls or corporate developments to materially shift the narrative.
More about Shaftesbury Capital
Shaftesbury Capital PLC is a major central London mixed-use REIT within the FTSE 250. Its £5.2 billion portfolio covers roughly 2.7 million square feet across iconic West End districts such as Covent Garden, Carnaby, Soho, and Chinatown. The company curates a diverse blend of retail, dining, leisure, residential, and office spaces, all located in high-footfall neighbourhoods with excellent transport connectivity.
In a rapidly evolving digital-asset landscape, institutional Bitcoin strategies are increasingly under the spotlight. One company gaining attention is (AQSE:HODL) B Hodl, which recently expanded its holdings to 155 Bitcoin as it pushes toward becoming one of the largest Bitcoin treasuries on the Aquis exchange. But as the company grows its position, investors are asking an important question: How does B Hodl generate yield while managing risk in such a volatile market?
On The Watch List, CEO Freddie New sat down with host Ricky Lee to unpack the company’s approach to yield generation, treasury security, and long-term sustainability.
A Self-Custodial Approach to Bitcoin Yield
With yield strategies across the crypto industry often tied to lending, leverage, or third-party platforms, each carrying its own risks, Freddie New was quick to emphasize that B Hodl chooses a different path.
“The way that we generate revenue from our Bitcoin is via the Lightning Network, and we do it in an entirely self-custodial and secure way,” he explained.
The Lightning Network, Bitcoin’s second-layer payment system, facilitates fast, low-cost transactions by routing payments through liquidity channels. To keep those channels functioning efficiently, liquidity must be locked into them, this is where B Hodl steps in.
Their business model is straightforward:
Raise equity
Buy Bitcoin
Deploy that Bitcoin into Lightning Network channels
Earn routing fees, similar to how Visa and Mastercard earn interchange fees
Crucially, this setup avoids the typical counterparty risks associated with lending or staking.
“If anything goes wrong and the channel is closed, the Bitcoin comes directly back to us,” New emphasized. “We’re not lending it to anyone.”
Best-in-Class Safeguards and Risk Management
Risk management is a major focus for B Hodl, and according to New, the team was intentionally built around deep experience surviving crypto bear markets.
The company’s core safeguards include:
Ultra-lean operations
B Hodl maintains very low operating expenses. Following its IPO, the company reports four years of cash runway, giving the team breathing room to continue building during market downturns.
Multi-signature, multi-jurisdiction cold storage
All Bitcoin held by the company is protected through a multi-sig, multi-device, multi-jurisdiction security protocol, the same one used by well-established UK exchange CoinCorner.
No counterparty exposure in yield generation
Because Lightning Network channels are non-custodial, capital always returns to B Hodl’s wallet when channels close.
Targeting Consistent, Predictable Bitcoin Yield
When asked about the future contribution of Lightning yield to operating cash flow, New revealed early results that exceeded expectations.
“Our initial results have been throwing off about 6% annualized yield,” he said. “We were initially modeling slightly lower than that.”
Maintaining a consistent yield through different market environments is a priority, and B Hodl is already preparing multiple complementary strategies on the Lightning Network. Only the first of these strategies has been publicly announced so far, with additional details coming soon.
Looking Ahead
As institutional interest in Bitcoin infrastructure deepens, B Hodl is positioning itself as a disciplined treasury manager focused on security, sustainability, and real utility on the Lightning Network.
The combination of self-custody, low operating risk, and Lightning-based revenue could set a new benchmark for publicly listed Bitcoin treasury businesses.
For updates and deeper insights into the company’s growth, visit https://bhodl.com/.
Unilever (LSE:ULVR) announced on Monday that it has reached a deal to sell its Graze snack business to Katjes International.
The better-for-you snacking brand—acquired by Unilever in 2019—will join the Candy Kittens group in the UK. The companies did not disclose financial details of the transaction.
During its time under Unilever, Graze shifted away from being mainly a Direct-to-Consumer operation and built a strong footprint across UK retail shelves. The brand also refreshed its visual identity, enhanced profitability, and continued to expand within the grocery channel.
The move fits with Unilever’s strategy of sharpening its focus on three core global food categories: Condiments, Cooking Aids & Mini Meals, and Unilever Food Solutions. The company has emphasized that its goal is to achieve sustained, market-leading performance by concentrating investment and resources where it has established strengths.
“Graze has transformed into a retail-focused brand which continues to redefine healthy snacking with innovations that stay a step ahead on nutrition, never compromise on taste, and remain true to its distinctive and much-loved style,” said Georgina Bradford, UKI Foods General Manager at Unilever.
Completion of the sale is expected in the first half of 2026, pending customary closing requirements.
If we take cryptocurrencies as a barometer of investor sentiment, December began with a sharp blow to risk appetite: Bitcoin price fell back below $90,000. As for what triggered this sudden wave of pessimism, it wasn’t that the odds of a rate cut suddenly changed course again. According to crypto analysts, the decline stemmed more from sector-specific concerns, including:
S&P downgrading USDT’s stability rating to its lowest level over fears that a drop in BTC prices could leave the stablecoin insufficiently backed.
Comments from MicroStrategy’s CEO, who said the company might sell some of its bitcoin holdings if its valuation fell below the value of its BTC reserves.
That said, while the negative headlines may have played a role, the market actually started falling well after these news items came out. This suggests that the decline may have been driven more by technical factors.
Does this mean the pessimism shouldn’t spread to U.S. stocks?
S&P 500 and Nasdaq futures have already opened the week in the red. However, for a more widespread decline in US stocks to occur, clear triggers would be needed. Assuming that the ADP private sector employment report for November, initial jobless claims, and September PCE data do not disappoint this week, and that the Fed cuts rates on December 10, other risks could weigh on confidence.
One of these is the potential bursting of the AI bubble.
Beyond Michael Burry’s allegations of accounting fraud by large technology companies, The Economist notes that while companies plan to invest around $5 trillion in AI, actual adoption is only between 10% and 12%, raising questions about whether these investments can yield a return. To reach the break-even point, annual revenue generated by AI would have to increase from the current $50 billion to around $650 billion.
Another risk is a repeat of the yen carry trade crisis. If yen loans become expensive, a large number of leveraged positions will begin to falter. When those trades cease to be profitable, there will be massive liquidations and margin calls.
Jerome Powell, who is scheduled to speak today, could offer a potential lifeline. Today also marks the official end of the Federal Reserve’s quantitative tightening program. If the central bank signals a shift toward a new round of quantitative easing, that could provide some support for risk assets.
