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EnSilica plc (LSE:ENSI) has landed a $1.4 million purchase order to continue development of a satellite payload ASIC for a major global satellite services provider. The award builds on an earlier feasibility study and is expected to contribute to FY26 revenue. Should the program proceed into full deployment, EnSilica notes the opportunity could translate into several million dollars of additional business over the coming years. The contract reinforces the company’s standing as a key independent supplier of complex communications ASICs, supported by deep capabilities in advanced digital signal processing and RF technologies.

The company’s broader outlook reflects a blend of opportunity and caution. Strategic contract wins and an improving cash-flow profile point to meaningful growth potential. At the same time, ongoing losses and a negative P/E continue to pressure valuation metrics. While technical trends indicate steady, if moderate, positive momentum, EnSilica’s corporate developments remain the primary driver of its forward-looking narrative.

More about EnSilica PLC

EnSilica plc is a fabless semiconductor design specialist focused on custom ASIC development and supply for OEMs and system integrators. Its expertise spans RF, mmWave, mixed-signal, and digital ICs, serving global clients across automotive, industrial, medical, and communications markets. Headquartered near Oxford in the UK, the company operates design centers in the UK, India, Brazil, and Hungary.

Anemoi International Ltd (LSE:AMOI) reported solid gains from recent digital-asset disposals, marking a successful phase in the execution of its Crypto Treasury Management Strategy. The company realized a 12% return from divesting its full position in IB1T and booked a 17.1% gain from selling more than 80% of its BTGD holdings, all within a six-month window. Management highlighted these results as evidence of its disciplined approach to portfolio optimization and its ability to respond quickly to evolving crypto-market dynamics.

More about Anemoi International Limited

Anemoi International Ltd operates within the financial sector with a core emphasis on crypto treasury management. Its activities center on overseeing, allocating, and optimizing cryptocurrency holdings to capture value and improve overall portfolio performance.

Rainbow Rare Earths (LSE:RBW) says a sharp rise in yttrium prices has meaningfully strengthened the value proposition of its Phalaborwa project, where yttrium is part of the SEG+ mixed rare-earth product. Based on current pricing, the company estimates the uplift could contribute roughly $30 million in annual EBITDA. The surge stems largely from Chinese export restrictions that have tightened global supply and disrupted downstream markets. With its relatively low capital requirements and strategically important output, Phalaborwa is increasingly positioned as a high-margin rare-earth supplier outside China.

Despite the project’s growing strategic appeal, Rainbow Rare Earths’ overall outlook is tempered by continued losses and the absence of revenue, which heighten financial risk. Even so, technical indicators point to solid upside momentum, suggesting investor optimism around the company’s key development assets. While the valuation remains difficult to gauge given negative earnings, progress on Phalaborwa and other future-facing projects provides a degree of forward-looking support.

More about Rainbow Rare Earths

Rainbow Rare Earths is working to build an independent, responsibly sourced supply chain for rare earth elements—materials essential to clean energy technologies. The company is advancing a novel approach that extracts rare earths from phosphogypsum, a by-product of phosphoric acid production, offering faster and lower-cost routes to output than conventional mining. Its primary developments include the Phalaborwa Project in South Africa and the Uberaba Project in Brazil, both targeting the production of rare earth oxides used in high-performance magnet applications across advanced industries.

AstraZeneca (LSE:AZN) is moving ahead with a sweeping $2 billion expansion of its Maryland manufacturing footprint, a project expected to create roughly 2,600 jobs and reinforce the resilience of the U.S. medicine supply chain. The plan centers on upgrading the company’s biologics hub in Frederick while adding a cutting-edge production site in Gaithersburg, both slated to come online by 2029. The initiative forms part of AstraZeneca’s broader, multiyear $50 billion investment strategy to scale R&D and medicine manufacturing and to speed patient access to next-generation treatments.

The company’s latest guidance remains supported by strong revenue momentum, expanding margins, and continued commercial traction across priority markets. Management’s upbeat commentary on the earnings call underscored confidence in its long-term strategy. Even so, AstraZeneca’s premium valuation and ongoing attention to cash-flow discipline provide modest counterweights to an otherwise constructive outlook.

More about AstraZeneca

AstraZeneca is a global biopharmaceutical company headquartered in Cambridge, UK, focused on discovering and delivering innovative prescription medicines. Its portfolio spans Oncology, Rare Diseases, and BioPharmaceutical therapies, including cardiovascular, renal and metabolic conditions, and respiratory and immunology. The company’s medicines reach patients in more than 125 countries.

U.S. stock futures are signaling a robust start to Thursday’s session, with markets preparing to build on the momentum seen late Wednesday.

The positive tone is largely attributed to the much-anticipated quarterly update from Nvidia (NASDAQ:NVDA), which delivered another standout performance and offered guidance that surpassed already-elevated expectations.

Nvidia shares are up 5.1% in premarket trading after the chip designer unveiled third-quarter numbers comfortably ahead of forecasts, along with an outlook that reassured investors concerned about overstretched valuations in the AI sector.

The results helped ease worries that the recent selloff in tech signaled the beginnings of an AI-driven market bubble.

“Nvidia’s results had the potential to be a make-or-break moment for global financial markets,” said Dan Coatsworth, head of markets at AJ Bell. “Any disappointment could have fuelled concerns around an AI bubble poised to burst.”

“Fortunately, Nvidia has brought the party back to life, with suggestions that everything is hunky dory with all things AI,” he added. “Demand for its products remains strong, and chief executive Jensen Huang continues to talk up AI like it’s the best thing since sliced bread.”

Futures remained firmly higher after the release of the long-delayed September U.S. jobs report, which showed a far stronger hiring pace than economists projected.

Nonfarm payrolls jumped by 119,000, reversing a revised decline of 4,000 jobs in August. Economists had penciled in just 50,000 new positions.

The unemployment rate ticked up to 4.4% from 4.3%, defying expectations for a steady reading.

Solid hiring may help counter concerns about the health of the economy, but it also adds to speculation that the Federal Reserve may hold off on another rate cut at its December meeting.

On Wednesday, U.S. equities swung throughout the session before ending modestly higher. The Nasdaq gained 131.38 points, or 0.6%, to 22,564.23 after an early surge of nearly 1.7%. The S&P 500 added 24.84 points (+0.4%) to 6,642.16, while the Dow finished up 47.03 points (+0.1%) at 46,138.77.

Early buying appeared to reflect bargain hunting after several days of steep declines that pushed the major averages to one-month lows. But enthusiasm faded as traders turned cautious ahead of Nvidia’s results.

Nvidia had already advanced 2.9% Wednesday before the earnings release, rebounding from its weakest close in nearly a month.

Investor uncertainty also lingered after the Federal Reserve’s latest meeting minutes revealed wide disagreements about the direction of interest rates. Officials expressed “strongly differing views” on what the December 9–10 policy decision should be.

While most policymakers still expect rates to move lower over time, several questioned whether a December cut was appropriate. Others said a cut could be justified depending on how economic data evolves, while “many participants” leaned toward keeping policy steady through year-end.

Chip-related stocks were among the strongest performers on Wednesday, with the Philadelphia Semiconductor Index rising 1.8% from recent lows. Gold miners also advanced, as shown by a 1.2% increase in the NYSE Arca Gold Bugs Index.

Energy stocks moved the opposite direction, dropping sharply alongside crude oil and pulling the NYSE Arca Oil Index down 1.7%.

European markets traded broadly higher on Thursday, lifted by Nvidia’s (NASDAQ:NVDA) strong quarterly results and upbeat outlook, which helped cool fears of an overheating AI sector.

The major indices moved firmly into positive territory: Germany’s DAX climbed 1.1%, France’s CAC 40 advanced 0.9%, and the U.K.’s FTSE 100 added 0.7%.

Tech stocks led the charge, with ASML Holding (EU:ASML) jumping almost 2% after investors responded positively to Nvidia’s numbers.

Valneva (EU:VLA) also surged after the French vaccine maker reaffirmed its upgraded full-year guidance alongside improved nine-month revenue.

Airbus (EU:AIR) traded higher as well, after initiating the second tranche of its previously announced share buyback program.

Halma (LSE:HLMA) posted one of the session’s stronger gains, with shares rising sharply following record first-half results and an upgraded full-year outlook.

Wind turbine manufacturer Nordex (TG:NDX1) climbed after securing a new contract for 12 N133/4.8 turbines for Ireland’s Drumnahough Wind Farm.

AstraZeneca (LSE:AZN) also advanced after the FDA expanded the approved use of its drug Koselugo to adult patients.

Not all stocks participated in the rally.

Mitie Group (LSE:MTO) fell after announcing the acquisition of a specialist engineering firm.

Johnson Matthey (LSE:JMAT) dropped following changes to its leadership structure and a decline in interim earnings.

JD Sports (LSE:JD.) also traded sharply lower after cutting its profit forecast.

Nationwide Building Society (LSE:NBS) reported lower statutory profit before tax for the six months to 30 September, posting £486 million compared with £568 million a year earlier, after factoring in £409 million in Fairer Share payments made to members.

On an underlying basis, however, profit before tax rose to £977 million from £959 million, supported by stronger income following the acquisition of Virgin Money.

Total underlying income increased to £3.11 billion from £2.13 billion in the comparable period, driven by growth across mortgages and retail deposits as well as the contribution from Virgin Money.
The mutual lender’s underlying net interest margin improved to 1.58%, up from 1.50%. Administrative costs rose sharply to £1.99 billion from £1.16 billion, reflecting the longer reporting period and expenses linked to integrating Virgin Money.

Chief executive Dame Debbie Crosbie said Nationwide was “number one for growth in mortgages and retail deposits”, noting that more customers had switched their current accounts to the society than to any other provider. “All of this, combined with the benefits of our acquisition of Virgin Money, has led to an increase in underlying profit before tax, while delivering £1.2 billion of value to our members,” she added.

Net mortgage lending came in at £4.7 billion, down from £6.3 billion the previous year, although overall mortgage balances rose to £280.6 billion from £275.9 billion — lifting Nationwide’s share of the mortgage market to 16.3%.

Gross mortgage lending climbed to £22.2 billion compared with £17.6 billion a year earlier, reflecting the consolidation of Virgin Money loans. Mortgage arrears of more than three months remained low at 0.42%, slightly under the 0.43% reported in March.

Retail deposits grew by £5.3 billion to £266 billion, keeping Nationwide’s market share at 12.2%. Business current accounts increased to 292,000 from 278,000 in March.

According to the society, its retail deposit interest rates were on average 31% higher than the wider market during the period. Internal switching data showed the group has attracted more than one million net current account switchers since 2013.

Impairment charges rose sharply to £146 million from £7 million, reflecting Virgin Money’s lending exposure as well as the absence of a £40 million release recorded a year earlier. Total impairment provisions increased to £1.31 billion.

Consumer lending balances grew to £11.5 billion, with arrears more than three months past due falling to 0.99% from 1.11%. Business and commercial lending eased slightly to £14.9 billion from £15.1 billion.

Chief financial officer Muir Mathieson said the group achieved “market-leading growth” alongside a “strong financial performance,” highlighting a CET1 ratio of 18.4% and a 5.2% leverage ratio, both described as “robust.”

Nationwide said the integration of Virgin Money was progressing ahead of schedule. The group has agreed to sell Virgin Money’s investments and pensions arm and is preparing for the Part VII transfer of Clydesdale Bank PLC’s assets and liabilities on April 2, 2026, which will involve around 6.6 million customers. System migrations are planned to begin after the transfer.

The lender noted that UK economic growth remained modest but said the housing and savings markets were showing resilience. It also reported strong capital, liquidity and credit quality, including an average Liquidity Coverage Ratio of 163% during the period.

Gold prices eased on Thursday during Asian trading hours, pulling back after two days of gains as traders sharply dialed down the likelihood of a Federal Reserve rate cut next month.

Improved risk sentiment, boosted by upbeat quarterly results from Nvidia Corp., reduced immediate appetite for safe-haven assets. With investors now waiting for the delayed U.S. nonfarm payrolls report, momentum in the gold market softened.

Lingering worries over rising government spending in major economies provided some underlying support for the metal. Higher Japanese government bond yields and escalating diplomatic friction between China and Japan also helped maintain some haven demand.

Spot gold slipped 0.2% to $4,070.27 per ounce, while December futures declined 0.3% to $4,069.09 by 00:15 ET (05:15 GMT).

Gold Rally Takes a Breather as Rate-Cut Odds Shrink

Bullion’s run higher stalled after gaining more than 1% over the previous two sessions.
The pause followed a sharp reassessment of the chances that the Fed will cut rates when it meets on December 10–11.

Minutes from the central bank’s October meeting revealed widening disagreement among policymakers about further easing, prompting investors to scale back expectations.
CME’s FedWatch tool now shows only a 21.5% probability of a 25-basis-point cut — nearly half of the 42.4% odds priced in just a day earlier.

A prolonged government shutdown has delayed key economic data releases, meaning the Fed will head into December’s meeting with limited new information to guide its decision.
Higher-for-longer U.S. rates typically weigh on gold, which does not generate income.

Among other precious metals, spot platinum rose 0.8% to $1,560.13 per ounce, while spot silver was steady at $51.3415 per ounce.

Markets Turn to Jobs Data for Fresh Direction

The next major event for traders will be the long-delayed September nonfarm payrolls report, due later on Thursday.
Although the data arrives too late to heavily influence December’s policy outcome, it will still provide insight into the direction of the U.S. labor market.

The shutdown-related delays mean October’s payroll report will likely never be released, adding further uncertainty.

Private-sector indicators and weekly jobless claims suggest the labor market continues to weaken gradually — a trend that could eventually justify looser monetary policy.
However, sticky inflation is expected to limit how aggressively the Fed can respond.

Oil prices nudged higher on Thursday, recovering slightly after the prior session’s drop, as a surprisingly large drawdown in U.S. crude inventories helped offset growing speculation that diplomatic efforts to end the Russia-Ukraine conflict could eventually release more supply into an already saturated market.

By 07:14 GMT, Brent crude was up 20 cents, or 0.31%, at $63.72 a barrel, while U.S. West Texas Intermediate rose 22 cents, or 0.37%, to $59.66.

Both contracts clawed back some ground after sliding 2.1% on Wednesday, a move triggered by a Reuters report claiming the United States had encouraged Ukraine to consider a U.S.-drafted peace proposal requiring it to give up territory and certain weapons, according to two sources cited in the story.

The prospect of a settlement raised expectations that Western sanctions on Russian oil could be loosened, potentially flooding the market with additional barrels at a time when crude is already being stored offshore and major suppliers have increased output.

In a research note, ING analysts said Ukraine was unlikely to accept the proposal because it could be seen as favoring Moscow, but added that “signs that the U.S. is still trying to work on a deal eases some concerns over further sanctions against Russia and also how strongly current curbs will be enforced.”

Providing a counterweight to supply concerns was the Energy Information Administration’s latest report, which showed a far larger-than-expected draw in U.S. crude stocks. The decline reflected stronger refinery activity bolstered by healthy margins, as well as firm overseas demand for American crude.

Crude inventories dropped by 3.4 million barrels to 424.2 million for the week ending November 14 — well above the 603,000-barrel draw forecast in a Reuters poll.

Still, analysts pointed out that both gasoline and distillate inventories rose for the first time in more than a month, suggesting fuel demand may be starting to cool.

Traders are also watching the approach of a U.S.-imposed November 21 deadline for companies to end business with Rosneft and Lukoil, Russia’s largest oil producers and exporters, a development that could influence supply conditions in the coming weeks.

The U.S. dollar paused for breath on Thursday, stabilizing after a sharp upswing in the previous session. The move followed hawkish signals from the latest Federal Reserve meeting minutes, which tempered expectations for a potential rate cut in December.

At 04:45 ET (09:45 GMT), the Dollar Index — which measures the currency against six major peers — was little changed at 100.150, after jumping 0.7% overnight.

Dollar supported by Fed commentary

The minutes from the Fed’s October meeting revealed a divided committee, with “many” officials opposing a rate cut in December while “several” still viewed a cut as plausible.

The split underscored policy uncertainty and led traders to dial back bets on near-term easing.

Analysts at ING noted: “At the October meeting, several FOMC members were against the decision to cut rates, and many expected a hold in December. This confirms that Powell’s hawkish presser was representative of a good chunk of the Committee.”

A further complication for the December decision is the disruption to U.S. economic data releases following the government shutdown.

The September jobs report is due later today and is expected to show employment growth of around 50,000. However, the data is now considered outdated, making it less relevant for policymakers. The next key figures — the November jobs report and a limited October estimate — will not be released until December 16, several days after the Fed concludes its December 10 meeting.

As ING put it: “Our call so far has been that jobs data would justify a December cut, but the change in the data release schedule makes it a much harder call now.”

ING: Euro losses unlikely to persist

EUR/USD slipped 0.1% to 1.1525, after German producer prices fell slightly less than anticipated, dropping 1.8% year-on-year versus forecasts for a 1.9% decline.

According to ING: “We think EUR/USD can make brief explorations below 1.150, but for those to be sustainable, we’d need either a broader hawkish re-rating (due to strong US data) or some negative news affecting the euro.”

GBP/USD edged up 0.1% to 1.3074, though ING highlighted that sterling continues to trade with a “moderate risk premium” likely to persist until the U.K. government’s November 26 Budget.

The recent reversal of planned income-tax hikes has unsettled bond markets and added pressure on the pound.

Yen hits its weakest level in 10 months

In Asian trading, USD/JPY rose to 157.19, touching levels last seen in mid-January after jumping more than 1% overnight.

Bank of Japan Governor Kazuo Ueda met Wednesday with Finance Minister Satsuki Katayama and Economic and Fiscal Minister Minoru Kiuchi to discuss the economy.

Following the meeting, Katayama emphasized that “specific discussions around the exchange rate did not take place,” signaling continued caution regarding FX intervention.

USD/CNY climbed 0.1% to 7.1159 after China’s central bank kept its loan prime rate unchanged, in line with expectations.

AUD/USD hovered near flat at 0.6478 following a 0.5% decline on Wednesday.