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Drax Group plc (LSE:DRX) announced on Wednesday that it has finalized a new agreement with the UK Government to continue operating the Drax Power Station beyond March 2027.

The contract, signed with the Low Carbon Contracts Company (LCCC), applies to all four of the plant’s biomass units and will run from April 2027 through March 2031. It sets a strike price of £109.90/MWh (2012, real), with terms largely consistent with those outlined in the Heads of Terms signed in February 2025. The strike price was adjusted downward from the earlier indicative level, reflecting favorable exchange rate movements that are expected to reduce the overall cost of biomass fuel.

According to Drax, this change “will have no material impact on expectations for Adjusted EBITDA,” which remain unchanged.

Under the terms of the contract, Drax Power Station will sell around 6TWh of electricity per year, benchmarked against a season-ahead reference price. The plant will optimize generation by increasing output during periods of high demand and scaling back during low-demand intervals, supporting flexibility and strengthening the UK’s energy security.

The agreement also permits additional merchant generation beyond the 6TWh baseline, as well as participation in system support and ancillary services markets.

“We are pleased to have agreed this new contract with the UK Government, which will support UK energy security into the 2030s and deliver a net saving for consumers compared to alternative sources of dispatchable generation,” said Drax Group CEO Will Gardiner.

The deal introduces stricter sustainability standards for biomass, requiring all fuel used at the facility to be fully traceable and verified through enhanced monitoring, reporting, and independent auditing across the supply chain.

An independent analysis by Baringa projects that the agreement could save up to £3.1 billion over its four-year duration while ensuring that Drax Power Station continues to deliver reliable electricity to millions of UK homes and businesses, regardless of weather conditions.

VH Global Energy Infrastructure PLC (LSE:ENRG) has announced the successful commissioning of its hybrid solar and battery storage project in New South Wales, Australia. The milestone marks the completion of the company’s Australian renewable energy program, which now totals 37MW of solar generation and 60MWh of battery storage capacity across seven sites. This achievement strengthens VH Global Energy Infrastructure’s presence in the clean energy sector and underscores its ongoing commitment to advancing the global energy transition and supporting sustainable development objectives.

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VH Global Energy Infrastructure PLC is an investment company focused on renewable energy and sustainable infrastructure. The firm develops and manages solar and energy storage projects designed to facilitate the transition toward cleaner, more resilient energy systems. Through strategic investments and partnerships, VH Global Energy Infrastructure aims to deliver long-term value while contributing to global sustainability goals.

J D Wetherspoon (LSE:JDW) recorded a 3.7% increase in like-for-like sales over the first 14 weeks of the current financial year, outperforming the broader pub industry. The company opened four new pubs during the period and plans to expand further, targeting a total of 15 new openings this year while also growing its franchise operations. Although sales momentum remains strong, management remains cautious amid potential challenges from economic policy shifts and rising labour costs, which continue to widen the pricing gap between pubs and supermarkets.

The company’s outlook reflects steady post-pandemic recovery and ongoing operational resilience. With a fair valuation, reasonable P/E ratio, and modest dividend yield, J D Wetherspoon remains well-positioned within the sector, though weaker short-term technical momentum tempers overall optimism.

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J D Wetherspoon plc operates a broad network of pubs across the UK and Ireland, known for providing quality food and beverages at affordable prices. The company emphasizes distinctive pub designs, well-maintained venues, and exceptional customer service delivered by trained and friendly staff, supporting its long-standing reputation in the hospitality industry.

M&G plc (LSE:MNG) delivered a strong third-quarter 2025 performance, recording £1.5 billion in net inflows from external Asset Management clients and total open business net inflows of £1.8 billion. Assets under management and administration (AUMA) in the Asset Management division rose to £335 billion, supported by broad-based client demand across asset classes and regions. The Life segment also performed well, with PruFund achieving £0.2 billion in net flows and Bulk Purchase Annuities (BPA) transactions totaling £0.3 billion. Despite a challenging macroeconomic backdrop, M&G continues to execute its strategic priorities effectively and remains on track to launch its With-Profits BPA product in the first quarter of 2026.

While M&G’s strong inflows highlight solid operational execution, the company continues to face challenges related to leverage and cash flow. Technical indicators suggest limited price momentum, though its high dividend yield offers valuation support and income appeal for investors.

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M&G plc is a leading international savings and investments group serving approximately 4.5 million retail clients and over 900 institutional clients across 39 global offices. As of 30 September 2025, the company managed £364.9 billion in assets under management and administration. Combining expertise in asset management and insurance, M&G offers a broad range of financial solutions under the M&G and Prudential brands in the UK and Europe, and under the M&G Investments brand worldwide.

Ceres Power Holdings plc (LSE:CWR) has entered into a manufacturing licence agreement with Weichai Power, broadening its network of global production partners for its solid oxide fuel cell technology. Under the agreement, Weichai will manufacture fuel cells and stacks for stationary power systems, targeting applications in AI data centres and industrial sectors. The collaboration is expected to deliver substantial revenue to Ceres through licence fees and royalties. As one of China’s leading engine manufacturers, Weichai’s partnership serves as a strong endorsement of Ceres’ technology and marks a major milestone in its strategy to establish its platform as a global industry standard.

Ceres Power’s outlook reflects continued strategic progress and promising technical momentum. However, challenges in profitability and valuation persist as the company advances from R&D toward full-scale commercialization. Ongoing cost-saving initiatives and increasing licence-based revenues are expected to strengthen its long-term financial position.

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Ceres Power Holdings plc is a UK-based clean energy technology company developing solid oxide fuel cells for power generation and electrolysers for green hydrogen production. Operating under an asset-light licensing model, Ceres partners with leading global firms including Doosan, Delta, Denso, Shell, Weichai, and Thermax. Its proprietary technology enables efficient, low-carbon energy solutions for industries such as ammonia, steel, and electrofuels. Listed on the London Stock Exchange, Ceres Power is recognized as a key contributor to the global energy transition and the advancement of sustainable technologies.

Barratt Redrow plc (LSE:BTRW) reported a resilient performance despite ongoing market challenges, emphasizing sustainable growth and operational efficiency. The company remains on course to deliver around 22,000 new homes annually and is progressing toward achieving £100 million in cost synergies through the continued integration of Redrow’s operations. Supported by a strong forward order book, Barratt Redrow maintains confidence in its FY26 outlook, even as uncertainties surrounding government policy and market demand persist.

The company’s overall outlook reflects steady revenue growth and a robust balance sheet, though profitability and cash flow pressures remain areas of focus. Technical indicators point to potential upward momentum, while valuation concerns linked to a high P/E ratio temper sentiment. Nevertheless, the company’s attractive dividend yield provides additional investor support.

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Barratt Redrow plc is a leading UK housebuilder specializing in residential property development. Known for its strong consumer brands, the company maintains a high-quality, geographically diversified land portfolio. Through a focus on build quality, customer satisfaction, and sustainable growth, Barratt Redrow is well-positioned within the UK housing market.

Braemar Plc (LSE:BMS) has reported its unaudited results for the half-year ended 31 August 2025, demonstrating resilience amid a challenging global market. The company saw declines in revenue and operating profit, largely due to softer chartering rates and geopolitical uncertainty, but remains optimistic for the second half of the year. With improving market conditions and a strong forward order book, Braemar continues to pursue its strategic growth initiatives, including the opening of a new office in Africa and the launch of a UK Organised Trading Facility. The Board reaffirmed its full-year guidance and declared an interim dividend of 2.5 pence per share.

Braemar’s outlook remains supported by its solid financial position and attractive valuation, despite near-term bearish technical indicators. The company’s strategic diversification and operational strength provide a stable foundation for long-term growth potential.

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Braemar Plc is a global provider of investment, chartering, and risk management advisory services for the shipping and energy industries. The company delivers integrated solutions through its network of experienced brokers and sector specialists, helping clients manage volatility and achieve sustainable returns. Listed on the London Stock Exchange under the ticker BMS, Braemar continues to expand its international footprint and service offerings across key maritime markets.

TP ICAP Group plc (LSE:TCAP) reported a 7% rise in group revenue for the first nine months of 2025, reaching £1,783 million, supported by strong results in its Global Broking and Liquidnet divisions. In contrast, the Energy & Commodities division experienced a slowdown, attributed to increased competition for broking talent. The company expects its current recruitment efforts to strengthen performance in that segment from 2026 onward. TP ICAP continues to pursue sustainable growth across its Parameta Solutions business and is evaluating a potential minority listing in the US. The Board remains confident in achieving full-year market expectations for adjusted EBIT, noting that a significant portion of the firm’s revenue and costs are denominated in US dollars.

TP ICAP’s outlook remains underpinned by steady financial performance, strong cash generation, and a solid balance sheet. The company’s valuation is considered attractive, supported by a reasonable P/E ratio and a robust dividend yield. While technical indicators suggest a neutral to slightly bearish short-term trend, the overall long-term view remains stable.

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TP ICAP Group plc is the world’s largest wholesale market intermediary, facilitating transactions between buyers and sellers across global financial, energy, and commodities markets. The company provides brokerage, data, analytics, and market intelligence services from more than 60 offices in 28 countries, leveraging advanced technology to enhance liquidity and market transparency.

Headlam Group PLC (LSE:HEAD) reported a 5% drop in revenue for the four months ended 31 October 2025, falling below expectations. In response, the company has initiated a restructuring program focused on reducing costs and enhancing operational efficiency to restore profitability and reinforce its market position. Despite current headwinds, the Board remains confident that these strategic measures, combined with Headlam’s established market presence and strong industry relationships, will support a return to sustainable growth.

Headlam’s near-term outlook remains pressured by declining revenue and weaker profitability, with technical indicators pointing to a bearish trend. Valuation metrics also reflect current challenges, including a negative P/E ratio and the absence of a dividend yield, weighing on overall sentiment.

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Headlam Group PLC is the UK’s largest distributor of floor coverings, serving the market for more than three decades. The company partners with global suppliers to provide an extensive range of products to a broad customer base that includes retailers, contractors, and housebuilders. Renowned for its comprehensive product offering, market expertise, and services such as e-commerce integration and nationwide next-day delivery, Headlam remains a key player in the UK flooring distribution industry.

Petro Matad Limited (LSE:MATD) announced that production has commenced at its Gazelle-1 well, which achieved an initial output of approximately 200 barrels of oil per day following successful testing in October. The company is also addressing technical issues at its Heron-2 well and engaging with PetroChina to revise their Oil Sales Agreement, aiming to secure full payment and resolve previously withheld amounts. Meanwhile, the Heron-1 well has completed its first year of production, delivering close to 60,000 barrels of oil. Petro Matad is also working to connect the well to Mongolia’s national electricity grid to further reduce operating costs.

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Petro Matad Limited is a Mongolia-based oil exploration and production company listed on the AIM market of the London Stock Exchange. The company’s activities focus on the development and operation of oil wells across Mongolia. Through its existing Oil Sales Agreement with PetroChina, Petro Matad continues to strengthen its position within the country’s growing energy sector.