The Financial Conduct Authority (FCA) is currently interviewing 20 ‘finfluencers’, aka financial influencers, as part of its investigation into illegal promotions of financial services products.
This forms part of a broader effort by the FCA to crack down on unlawful activity in the financial advice space, particularly on social media platforms.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has completed an extensive infill drilling program on schedule at the Kasiya Rutile-Graphite Project in Malawi to support ongoing technical studies.
The program was designed to upgrade Kasiya’s mineral resource estimate (MRE) and convert ore reserves from probable to proven category.
Silicon Valley chipmaking darling NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) has reached a new all-time high on the Nasdaq, signalling that the artificial intelligence-led boom in its share price still has some gas in the tank.
Nvidia, which designs high-spec graphic processing units (GPUs) that most AI models use to train on, is now worth close to $3.5 trillion.
UBS has cut its earnings per share (EPS) estimate for GSK PLC (LSE:GSK, NYSE:GSK) by 5% for fiscal years 2024 and 2025.
The decision comes ahead of GSK’s third-quarter results, expected on 30 October, and is mainly driven by weaker vaccine sales in the US for its key products, Shingrix and Arexvy.
A coalition of business leaders from retail, hospitality, tourism and arts sectors have called on Chancellor Rachel Reeves to abolish the controversial 'tourist tax'.
In an open letter co-signed by bosses at Rocco Forte Hotels, British Airways, British Fashion Council, Fortnum & Mason and many more, business leaders highlighted how the 2021 decision to end tax-free shopping for international tourists has negatively impacted the UK’s competitiveness in the global tourism market.
A pattern in the northern hemisphere's climate, known as the Arctic Oscillator, should benefit retailers such as Marks and Spencer (LSE:MKS), AB Foods' (LSE:ABF) Primark, JD Sports Fashion PLC (LSE:JD.) and Zalando, according to RBC Capital Markets.
Full-price sales have seen a stronger start this year compared to the same period in 2023, RBC analysts noted, and could benefit more in the winter.
Just as the International Energy Agency (IEA) forecasts exponential growth in the use of low-emissions hydrogen this decade, ATOME PLC (AIM:ATOM) is set to achieve several milestones in the near term that will de-risk its plans and highlight the company to investors, said house broker SP Angel.
The use of green hydrogen is seen as a key part of global 2050 net zero commitments, the IEA said in its latest report, with the largest market participants now jockeying for position to secure low-carbon fertiliser supplies for their client base.
Deutsche Bank has lowered its price target for Mothercare PLC (LSE:MTC) from 12p to 6.5p, but has maintained a 'buy' rating on the stock, following the company’s latest financial results and a key refinancing deal.
Mothercare reported a 13% drop in retail sales, driven by challenging conditions in its key Middle Eastern markets, which account for 41% of its business. However, the UK and Indonesia saw growth.
A former Microsoft Corp executive has been tapped to replace Ocado Group PLC's (LSE:OCDO) chairman from next month, according to a Sky News report.
If confirmed, Adam Warby, whose LinkedIn profile also cites senior positions at private equity giant KKR and Microsoft IT partner Avanade, would replace current chair and City grandee Rick Haythornthwaite.
Gold repeatedly broke record highs on Monday as the yellow metal moved further on from US$2,700 an ounce mark.
Having surpassed the mark for the first time on Friday, the spot price of the yellow metal climbed further as this week’s trading got underway, gaining 0.26% to reach US$2,729.
Citi analysts have highlighted Barclays PLC (LSE:BARC) and the London Stock Exchange Group PLC (LSE:LSEG) as top picks in the investment banking and exchanges sectors, respectively, in preparation for the third-quarter earnings season.
Citi noted generally bullish third-quarter trading trends, with analysts stating: “The third quarter saw healthy capital markets volumes, buoyed by a number of events including shifting expectations on timing and magnitude of Fed cuts, the (Bank of Japan) pivot and on China stimulus package.
Volkswagen Group (XETRA:VOW) has been fined by Britain’s financial watchdog over its treatment of customers in financial difficulty.
The Financial Conduct Authority (FCA) said on Monday that Volkswagen Financial Services (UK) Ltd would have to pay £5.4 million over unfair treatment of such customers.
Ahead of the Budget next week, government bond investors suggest that the government could massively increase borrowing so long as the Chancellor is clear on her plans.
Rachel Reeves could borrow an extra £80 billion to fund spending on infrastructure and green energy, according to an assessment by Lloyds Banking Group PLC (LSE:LLOY) shared with the Sunday Times.
Deutsche Bank has lowered its price target for online fashion retailer Boohoo Group PLC (AIM:BOO) from 27p to 26p, maintaining a 'sell' rating on the stock.
The downgrade follows Boohoo's unscheduled trading update, which included the unexpected departure of its chief executive, a debt refinancing plan, and the company's announcement that it may sell off assets to boost shareholder value.
Shares in Intertek Group PLC (LSE:ITRK), the London-listed inspection and certification firm, fell 2.5% after a downgrade by a leading investment bank.
RBC Capital moved from 'outperform' to 'sector perform' on the stock, setting a new price target of 5,000p, down from 5,200p.
JP Morgan has maintained its positive outlook on the publisher Future PLC (LSE:FUTR), setting a price target of 1,296p per share, despite the recent sudden announcement of the departure of chief executive Jon Steinberg.
His exit plan has raised concerns about the company’s future direction, as investors saw a sharp 19% drop in share price after the announcement.
Hundreds of industry bosses have co-signed a letter calling on chancellor Rachel Reeves to commit to offering business rates relief for the hospitality sector.
Signed off by UKHospitality chief executive Kate Nicholls with support from bosses at Young's, Stonegate, The Langham, Pizza Pilgrims, Pizza Hut, Holiday Inn and hundreds more, the letter warned that the upcoming Budget “is the last chance to prevent bills quadrupling for high streets across the country”.
Helix Exploration PLC (AIM:HEX) shares climbed around 14% in Monday's early deals after the firm told investors it has successfully re-entered and deepened its Clink #1 well at the Ingomar Dome in the Montana Helium Fairway.
The well was re-entered and extended to a total depth of 8,550 feet, with a seven-inch intermediate casing set at 2,622 feet to secure the Mowry formation.
FirstGroup PLC (LSE:FGP) has acquired London-based coach firm Anderson Travel to strengthen its First Bus division.
The purchase, for an undisclosed amount, includes around 40 coaches operating in central London and Heathrow Airport, covering school transport, private hire, mini coach services, and tours.
EnergyPathways PLC (AIM:EPP) shares jumped 36% in Monday morning’s trade after the firm announced its participation in the UK Government’s Hydrogen Storage Business Model (HSBM) Design Group.
The HSBM, organised by the Department of Energy Security and Net Zero (DESNZ), aims to define an investment support scheme aimed at promoting hydrogen storage projects.
Midwich Group PLC (AIM:MIDW) shares fell 17% to 265p as the audio-visual products consultancy said market conditions have not improved as it hoped, and that investments made in the business will result in profits being "significantly below" last year.
Having in its interim results last month highlighted market data pointing to a return to growth for the second half, the AIM 100-constituent hailed the UK market as having "stabilised" in recent weeks and performance "remained strong" in both North America and live events and entertainment sectors.
Ocean Wilsons Holdings Limited (LSE:OCN), the London-listed investment holding company, has agreed to sell its 56.47% stake in Brazilian shipping firm Wilson Sons to SAS Shipping Agencies Services for just under $765 million.
SAS is part of MSC Mediterranean Shipping Company, a Swiss shipping group actively growing its presence in Brazil.
Merit Group PLC (AIM:MRIT) shares dropped 30% on Monday after the Dods political intelligence publisher issued a profit warning, as its Merit Data & Technology division faced reluctance from clients to commit to large-scale IT projects.
Full-year revenue and profit are now expected to come in approximately 10% and 40% below market expectations, respectively.
Shares in sports and gaming digital media company XLMedia PLC (AIM:XLM, OTC:XLMDF) flew 39% higher on Monday in response to a proposed divestment of its last remaining business.
Under the plans, XLMedia has entered into a $30 million deal to sell its North America arm to Switzerland-based sports data business Sportradar, pending approval at a November general meeting.
Benchmark lending rates have been cut in China as the country continues with efforts to stimulate growth across the world’s struggling second-largest economy.
One and five-year loan prime rates were lowered by 25 basis points respectively on Monday by the People’s Bank of China, following a reduction in July.
80 Mile PLC (AIM:80M, OTCQB:BLLYF), the helium-focused reboot of BlueJay Mining, has announced the discovery of significant concentrations of natural hydrogen and helium at its Hammaslahti project in Finland.
Surface sampling at two historical drill holes revealed hydrogen concentrations of 1000 ppm, representing the upper detection limit of the equipment used, the company said.
Ricardo PLC (LSE:RCDO) intends to sell its defence business under a five-year strategy to become a "strategic and engineering consultancy in environmental and energy transition".
The London-listed engineering consultancy firm’s defence segment provides technical consulting and operating advice to global clients including the US Army.
Shares in customer relationship management software group Cerillion PLC (AIM:CER) climbed 3.5% after it flagged solid trading in the second half of its financial year to follow the record revenue and profit in the first.
Ahead of the publication of final results next month, the billing, charging and CRM software provider said it made roughly £43.8 million of revenue in the year to September, up 11.7% on last year as new orders signed were "significantly greater than in any previous year".
Deltic Energy PLC (AIM:DELT) has revealed the initial success of the Selene exploration well, in the North Sea, whilst at the same time announcing a strategic review that aims to take the company in a new direction.
At Selene, JV partner and operator Shell has now completed drilling down to a total depth of 3,540 metres – encountering a 160-metre section of Leman Sandstone, which will now be assessed.
France is reportedly set to acquire a small stake in Sanofi SA's (ADR) (NYSE:SNY) consumer healthcare unit as the pharmaceutical company proceeds with a €16 billion deal to sell half of the business to US private equity firm Clayton, Dubilier & Rice (CD&R), despite political opposition.
Sanofi entered exclusive talks with CD&R to sell 50% of Opella, the division behind well-known products like Doliprane, a popular painkiller in France.
AstraZeneca PLC (LSE:AZN) and Ionis Pharmaceuticals' (NASDAQ:IONS) drug Wainzua (eplontersen) has been recommended for approval in the European Union for treating hereditary transthyretin-mediated amyloidosis, a rare disease that damages nerves and leads to disability.
The green light is based on a successful phase III trial, showing the drug improved patients' nerve function and quality of life compared to a placebo.
Sky UK ran up an operating loss of £224 million in 2023, representing a more than 100% increase in losses compared to the previous year, according to recently filed Companies House documents.
The broadcaster, which is owned by US cable giant Comcast, reported elevated programming costs of £3.5 billion attributed to the Qatar World Cup football season.
Hollywood Bowl Group PLC (LSE:BOWL) has said earnings should beat expectations this year after revenues hit a record.
Revenue climbed by 7.2% to £230.4 million over the year to September, Hollywood Bowl said on Monday, leaving pre-tax earnings on course to exceed £65 million.
Light Science Technologies Holdings PLC (AIM:LST) has secured a £1.17 million order for its passive fire protection services.
The new contract, from a Manchester-based construction firm, involves fire safety upgrades for two residential tower blocks.
The UK transport minister says ministers will oversee the costs of the HS2 high-speed rail project, including potentially renegotiating the incentives for the main contractors, including Balfour Beatty's (LSE:BBY).
Costs for the first phase from London to Birmingham have reportedly almost doubled from the original £30 billion.
UK house sales are up 29% compared to a year ago, but house prices are levelling off as the number of homes coming to market reaches the highest level in 10 years.
Average house prices rose 0.3% in October, according to Rightmove, which noted that this is lower than the historical autumn average of 1.3%.
Ananda Developments Plc (AQSE:ANA) said its cannabis-based medicines will be used in two major NHS-backed phase IIIa trials exploring treatments for drug-resistant epilepsy.
In the first study, Ananda’s MRX2 (CBD) and MRX2T (CBD+THC) medicines will be tested against a placebo in patients with drug-resistant epilepsy that begins in early childhood.
Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) confirmed, after hours on Friday, the closing of its $3.55 million equity raise, which included a retail offering of $260,000.
The retail offer followed a prior announcement earlier last week, concerning a $3 million subscription by major shareholder PT Delta Dunia Makmur Tbk, and an investment of US$295,000 from the board members and management.