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DP Poland (LSE:DPP) said trading in 2025 came in line with market expectations, supported by improving momentum through the year. Group system sales increased 11.3% on a reported basis to £61.4 million, while pre-IFRS 16 EBITDA more than doubled to £2.6 million. Performance was aided by a strong fourth quarter and improving like-for-like trends across both Poland and Croatia.

The group made significant progress in shifting towards a franchise-led, capital-light operating model during the year. The proportion of franchised stores increased from 12% to 33%, while integration of the acquired Pizzeria 105 outlets continued. DP Poland also began consolidating its supply chain, actions that management said are already contributing to margin expansion and operational efficiency.

Looking ahead, the company expects these initiatives to support double-digit system sales growth and further EBITDA improvement in 2026. Management is targeting an estate of more than 200 stores and a majority-franchised network by 2027, positioning the group for more sustainable, scalable growth.

Despite revenue momentum and supportive strategic developments, DP Poland’s overall outlook remains mixed. While recent corporate actions and operational progress provide grounds for optimism, profitability challenges, bearish technical indicators and weak valuation metrics continue to weigh on sentiment.

More about DP Poland plc

DP Poland plc operates Domino’s Pizza restaurants and delivery stores in Poland and Croatia under exclusive development and sub-franchising rights. The group is pursuing a dual-brand strategy that combines the Domino’s international franchise with its owned Pizzeria 105 chain, expanding coverage of the Polish pizza market while driving scale efficiencies across its store network and supply chain.

Hays plc (LSE:HAS) has published its trading update for the three months ended 31 December 2025, outlining second-quarter performance and prevailing market conditions. The full update has been released through the London Stock Exchange announcement service and the company’s investor website, ensuring timely access to detailed information for shareholders.

Alongside the update, Hays confirmed it will host a conference call with analysts and investors to discuss recent trading and provide commentary on the outlook. The scheduled call underlines management’s ongoing engagement with the investment community and its commitment to transparency around operational and financial developments.

The broader outlook for Hays continues to be weighed down by challenging financial metrics. Weak revenue trends and profitability pressures remain key concerns, while technical indicators point to a bearish share price pattern. Valuation also presents a headwind, with a negative price-to-earnings ratio highlighting the impact of recent performance. Although recent corporate actions and communications suggest management confidence, these factors have yet to materially shift the overall assessment.

More about Hays plc

Hays plc is a global recruitment and staffing specialist operating across multiple professional disciplines and geographies. The group places candidates into permanent, temporary and contract roles for a wide range of corporate and institutional clients, while also offering broader workforce and talent solutions to support employers’ evolving hiring needs.

Mulberry (LSE:MUL) reported a strong trading performance in the third quarter for the 13 weeks ended 27 December 2025, supported by healthy festive demand and a continued focus on selling at full price in an otherwise heavily discounted retail environment. Group revenue increased 5.3% year on year, while like-for-like sales across retail and digital channels rose 11%.

Performance was driven by a 19% uplift in full-price retail sales, alongside broad-based growth across all regions. Europe and the US stood out as particularly strong contributors, reflecting improving brand traction internationally. The company said results demonstrate early progress under its “Back to the Mulberry Spirit” strategy, which is centred on simplifying operations, refreshing the brand, and using customer insight more effectively.

Management pointed to renewed customer engagement both online and in stores, with robust demand for core product lines including the Roxanne, Hackney and Bayswater ranges. Strategic actions during the period included a sharper focus on the UK market and continued right-sizing of the Asia-Pacific store estate. Ongoing cost discipline was also highlighted, supporting improved momentum heading into the final quarter and reinforcing efforts to build a more sustainable, profit-focused business over time.

Despite the encouraging quarter, Mulberry’s broader outlook remains shaped by structural challenges, including historically declining revenues and elevated leverage. That said, technical indicators have recently turned more positive, and recent strategic initiatives and corporate developments suggest some improvement in the company’s longer-term trajectory.

More about Mulberry

Mulberry Group plc is a British sustainable luxury brand best known for its leather handbags and accessories. Positioned as a British lifestyle label, the group operates across physical retail and digital channels in the UK, the US, Europe and Asia Pacific, targeting premium consumers with a focus on full-price sales and brand-led, non-promotional growth.

ProCook Group plc (LSE:PROC) reported record peak-season performance in its third quarter to 4 January 2026, with total revenue rising 28% year on year to £32.8 million. Like-for-like sales increased 17.2%, marking the ninth consecutive quarter of overall revenue growth and highlighting continued momentum across the business.

Retail revenue advanced 26.8%, supported by new store openings and a tenth straight quarter of positive like-for-like growth. Ecommerce also performed strongly, with sales up 30%, driven by nearly 29% like-for-like growth as higher customer traffic and improved average order values lifted online performance. The group said it outpaced the wider UK kitchenware and kitchen electricals market by around 30 percentage points during the period.

Strong trading translated into solid cash generation, leaving ProCook with £7.8 million of net cash at quarter end and £23.8 million of total available liquidity. During the quarter, the company opened four new stores in high-profile locations, taking year-to-date openings to ten as it continues to build out its physical retail footprint.

Beyond financial performance, ProCook enhanced its sustainability and workplace credentials, improving its B Corp score following recertification and retaining its Great Place to Work status. Looking ahead, management said it remains on track for a robust full-year outcome, with revenue and cash generation expected to be slightly ahead of market expectations and profitability broadly in line. This outlook is supported by ongoing investment aimed at accelerating market share gains and progressing towards medium-term targets of 100 UK stores, £100 million in annual revenue and a 10% operating margin.

While the outlook is underpinned by strong recent trading and positive technical signals, the company also faces risks linked to relatively high leverage and valuation levels. Limited disclosure around earnings calls and corporate events provides less visibility beyond the reported figures.

More about ProCook Group plc

ProCook Group plc is a UK-based direct-to-consumer specialist kitchenware brand that designs, develops, and retails its own high-quality cookware and kitchenware ranges. Products are sold through its ecommerce platform and a growing network of 75 own-brand stores across the UK. Headquartered in Gloucester, the group employs more than 700 people and positions itself as a socially responsible B Corp, Real Living Wage employer, and certified Great Place to Work.

U.S. equity futures are pointing to a mildly higher open on Tuesday, as investors react positively to a benign inflation reading and look to extend the late-session rebound seen on Monday.

Futures edged up after the U.S. Labor Department released its December consumer inflation figures. The data showed headline prices rising as expected, while underlying inflation came in slightly cooler than economists had forecast.

The consumer price index increased by 0.3% in December, matching consensus estimates. When food and energy costs are excluded, core prices rose 0.2% over the month, undershooting expectations for a 0.3% gain.

On a year-on-year basis, headline inflation held steady at 2.7% in December, unchanged from November and in line with forecasts. Core inflation was also unchanged at 2.6%, despite expectations that it would tick up to 2.7%.

The report has reinforced optimism around the interest-rate outlook ahead of the Federal Reserve’s policy meeting later this month.

Wall Street endured a choppy session on Monday, with stocks initially moving lower before staging a broad recovery. The main indices rebounded strongly from their intraday lows and finished in positive territory, with the Dow Jones Industrial Average and the S&P 500 notching new record closing highs.

Although gains were trimmed slightly into the close, the overall tone remained constructive. The Dow added 86 points to end at 49,590, the Nasdaq rose 63 points to 23,734, and the S&P 500 advanced nearly 11 points to 6,977.

Early selling pressure reflected unease over the Federal Reserve’s independence after Chair Jerome Powell disclosed that the central bank had been served with subpoenas from the Department of Justice, carrying the threat of criminal charges.

“On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June,” Powell said in a video statement released by the Fed on Sunday. “That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.”

According to U.S. media reports, federal prosecutors have opened a criminal investigation into Powell over his testimony to Congress regarding a $2.5 billion renovation program involving three buildings, including the Fed’s headquarters.

Powell described the development as “unprecedented” and linked it to sustained pressure from President Donald Trump to push the Fed toward lower interest rates. He emphasized his respect for the rule of law and accountability, while noting that the Fed’s leadership is not above legal scrutiny.

“Trump wants to lower borrowing costs, so consumers and businesses spend more money and propel the economy,” said Russ Mould, investment director at AJ Bell.

He added, “However, what’s worrying markets now over Trump’s implied intervention is that the loss of Fed independence could lead to inflation getting out of control.”

As the session progressed, investors appeared to look past the political noise, refocusing on monetary policy expectations. While the Fed is widely expected to leave rates unchanged at its upcoming meeting, markets still anticipate at least one further quarter-point cut later this year.

From a sector perspective, computer hardware stocks led the gains, with the NYSE Arca Computer Hardware Index surging 5%. Gold-related shares also rallied sharply, buoyed by a jump in bullion prices, pushing the NYSE Arca Gold Bugs Index up 3.5%.

Steel and networking stocks also advanced, while airline and oil services shares lagged the broader market.

Oil markets extended their upward momentum on Tuesday, with prices rising for a fourth consecutive day as investors grew increasingly concerned about potential supply disruptions linked to escalating unrest in Iran.

During Asian trading, Brent crude futures for March delivery advanced 0.4% to $64.10 a barrel by 21:18 ET (02:18 GMT), while U.S. West Texas Intermediate (WTI) crude futures also gained 0.4% to $59.70 a barrel. In the previous session, Brent reached its highest level in more than seven weeks, and WTI touched a one-month peak.

Iran unrest adds to market risk premium

Iran, a key producer within the OPEC group, is facing its most severe wave of anti-government protests in years. Reports of widespread violence and significant casualties as security forces crack down on demonstrators have amplified concerns over political instability and the potential for supply interruptions.

U.S. President Donald Trump has warned that military options could be considered if Iranian authorities continue to employ lethal force against protesters. He has also announced plans to impose a 25% tariff on any country “doing business” with Iran, a move aimed at tightening economic pressure on Tehran.

“China is a key buyer of Iranian oil. Whether this secondary tariff threat is sufficient to push China away from Iranian oil remains to be seen,” ING analysts said in a research note.

Reuters reported that Trump is expected to meet with senior advisers later on Tuesday to discuss possible responses to the situation in Iran.

Russian export flows also under threat

Supply-side risks extend beyond the Middle East. Russia’s oil export network has come under repeated strain amid the ongoing war in Ukraine, with Ukrainian forces targeting oil infrastructure and export terminals.

One of the affected sites is the Caspian Pipeline Consortium (CPC) terminal near Novorossiysk, a vital conduit for Kazakh crude. According to Bloomberg, oil shipments from the CPC terminal this month are expected to range between 800,000 and 900,000 barrels per day, roughly 45% below initial projections.

Venezuela moves toward returning supply

Elsewhere, Venezuela is taking steps to re-enter global oil markets after a period of disruption. Following recent political developments in the country and the capture of President Nicolas Maduro, Trump said last week that Caracas would transfer up to 50 million barrels of oil to the United States.

If implemented, the move could eventually bring additional barrels back into the global supply picture, potentially easing some of the current geopolitical pressures on oil markets.

Gold prices moved little on Tuesday, holding just under all-time highs as investors continued to weigh rising geopolitical risks in Iran and growing concerns over political pressure on the U.S. Federal Reserve, while awaiting fresh inflation data from the United States later in the day.

Spot gold was steady at $4,588.9 an ounce at 01:08 ET (06:08 GMT), after surging to a record $4,629.4 an ounce in the previous session. U.S. gold futures for March slipped 0.4% to $4,596.81 an ounce.

Iran tensions and Fed pressure support safe-haven demand

The latest gains in bullion have been underpinned by escalating unrest in Iran, where widespread anti-government demonstrations and warnings from Washington of possible intervention have raised fears of broader regional instability, bolstering demand for safe-haven assets.

“Protests in Iran keep geopolitical tensions elevated, while President Trump has reiterated threats to take Greenland, bringing further upside to precious metals,” ING analysts said in a note.

Gold buying was also driven by turmoil in U.S. politics and monetary policy. The Trump administration has issued grand jury subpoenas to the Federal Reserve and launched a criminal investigation into Fed Chair Jerome Powell, centred on his June testimony to Congress regarding renovation costs at the central bank’s headquarters. The developments have intensified concerns about political interference and the Fed’s independence.

In a public statement, Powell described the subpoenas — and the threat of criminal charges — as “pretexts” intended to pressure the central bank into changing its interest-rate policy. He reiterated that the Fed remains committed to setting policy based on economic conditions rather than political considerations.

Markets are now focused on the release of the U.S. Consumer Price Index later on Tuesday, which is expected to offer further insight into whether the Federal Reserve could begin cutting interest rates in 2026.

Other metals ease after recent surges

Elsewhere in the metals market, silver remained close to record territory after hitting an all-time high in the previous session. On Tuesday, silver was little changed at $84.94 an ounce, having reached $86.22 an ounce on Monday.

Platinum prices retreated 1.4% to $2,310.09 an ounce, following gains of more than 3% a day earlier. Copper prices also edged lower, with benchmark London Metal Exchange futures down 0.6% at $13,089.20 a tonne and U.S. copper futures slipping 0.3% to $5.99 a pound.

Despite the modest pullback, copper prices remain close to the record highs seen last week after a strong start to the week.