1. Revolut hits $75bn in secondary sale-backed valuation
Revolut has seen its valuation surge to around $75 billion following a secondary share sale involving backers such as Coatue, Greenoaks, Dragoneer, and Fidelity, with participation from NVentures, Andreessen Horowitz and T. Rowe Price. The UK-based fintech allowed employees to sell holdings in the round. The figure marks a significant uplift from the $48 billion valuation earlier this year, reflecting continued investor appetite for the group’s broad-based financial services platform and international expansion plans. Read more
2. Goldman Sachs turns positive on UK housebuilders
Goldman Sachs initiated coverage of the UK homebuilding sector with a constructive view, citing improving affordability, a better macro backdrop, and expectations for rate cuts. Barratt Redrow PLC (LSE:BTRW) was highlighted as the top pick, supported by brand breadth and outlet growth from its Redrow deal. Persimmon PLC (LSE:PSN) and Vistry Group PLC (LSE:VTY) also received buy ratings. The bank expects earnings growth of 8% to 19% from 2025 to 2027 across the sector. Read more
3. M&C Saatchi and S4 Capital sink on fresh guidance cuts
Shares in M&C Saatchi PLC (AIM:SAA) and S4 Capital PLC (LSE:SFOR, OTC:SCPPF) dropped sharply as both firms warned 2025 results will fall short. M&C pointed to the impact of the US government shutdown on its public-sector business, while S4 flagged worsening revenue forecasts after weak October trading. Peel Hunt slashed earnings estimates and lowered its target price on M&C. Both updates reinforce the fragile state of marketing budgets heading into the year-end. Read more
4. Precious metals lift as traders bet on rate cuts
Gold and silver stocks climbed as growing expectations of US interest rate cuts boosted sentiment across the sector. Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) posted solid gains alongside Glencore PLC and Antofagasta PLC, helped by stronger metal prices and relief over BHP’s decision not to renew its bid for Anglo American. Copper prices also gained on optimism around global manufacturing and electrification demand. Read more
5. OpenAI flags growing pressures in competitive AI landscape
OpenAI CEO Sam Altman has warned of short-term economic pressures as competition intensifies from rivals including Google and Anthropic. In an internal memo, Altman noted infrastructure costs and shifting dynamics in AI model development. The company is rolling out new strategic initiatives and expanding cloud partnerships. Analysts at Wedbush said OpenAI remains well-positioned despite financing concerns and increased focus across the industry on revenue-generating applications. Read more