Proactive Investors reported shares up more than 15% intraday to around 0.011p, while data, taken from a different snapshot, showed the stock up 5.26% against Thursday’s close of 0.0095 GBX after touching an intraday high of 0.012 GBX — a later snapshot did not fully replicate, suggesting some retracement from the earlier reported move. That sits well inside the 52-week range of 0.006 to 0.027 GBX.

Welch told SmallCapPix that Texas operations now generate $200,000 to $250,000 a month in free cash flow, which Proactive calculated at roughly 10% of Buccaneer’s market capitalisation. He said that cash flow is funding a pivot toward European gas exploration, with the team having screened around 300 opportunities down to a shortlist targeting an initial portfolio with a net present value of about $500m, against a board ambition of roughly 5,000 barrels of oil equivalent per day within three to five years.

Welch described Texas as “the platform, not the destination” — a stable, cash-generative base to fund the company’s next phase of growth. These figures are CEO-stated on a promotional platform, not confirmed by a formal stock exchange announcement. Buccaneer’s market capitalisation is about £2.2 million, and shares outstanding have grown from roughly 5.5 billion at the end of 2024 to more than 23 billion now, reflecting repeated equity fundraisings, while the company continues to report net losses and negative shareholder equity.

Any European gas pivot remains at an early, unconfirmed stage, and Buccaneer’s dilution history and sub-£3m size mean today’s move should be read as speculative interest rather than a de-risked catalyst.

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In a trading update published at 6am on Friday, the company said adjusted earnings for the year to 30 September 2026 will beat current market expectations, driven by higher revenue. Reported pre-tax profit will get a further exceptional lift from an accelerated payment on a contract, triggered by a change in a customer’s requirements. FY27 guidance was left unchanged.

The market reacted immediately. LPA shares opened at 82p and rose as high as 92p, before settling near 86.5p, up 11.6% on Thursday’s close of 77.5p. The move came on volume of just over 108,000 shares. With a market capitalisation of roughly £11.4 million and a free float of only around 6.0 million shares, LPA is thinly traded, meaning even modest buying can produce outsized percentage swings. The stock has now set a new 52-week high of 92p today, having more than doubled from its 52-week low of 34p.

Chief executive Philo Daniel-Tran said: “The strong performance achieved in the first half of the financial year has continued into the second half. As a result, I am pleased to report that the Group is now expected to achieve revenue and profits for the financial year ending 30 September 2026 ahead of previous market expectations.”

The upgrade applies to adjusted earnings, not statutory profit — a meaningful distinction for a small-cap with a history of thin or negative net income. The company did not quantify the scale of the beat, and unchanged FY27 guidance suggests, in our reading, that management is treating this year’s strength as a step change rather than a new higher run-rate just yet.

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Shares closed at 12.75p on Thursday, unchanged on the day and down from a 52-week high near 18p in early June. Trading was too thin either side of Friday’s results to show how the market has judged them.

The interim results, covering the six months to 30 June, showed a loss after tax of A$3.19m, up from A$2.75m a year earlier, with no revenue as the company remains in development. Auditor BDO Audit Pty Ltd flagged a material uncertainty over going concern tied to the risk of future cash calls from Geomet, the joint venture through which EMH holds its 49% economic interest in Cinovec.

The warning sits alongside genuine technical progress. During the period EMH submitted the full Environmental Impact Assessment and secured regional rezoning approval, while preliminary engineering pointed to savings against the December 2025 definitive feasibility study, the study that had confirmed the project’s economics. Combined with separately announced tunnel kiln testwork, the company said potential savings could reach up to US$110m in capital costs and US$64m a year in operating costs versus that study, though these are not yet reflected in an updated feasibility study.

Cash stood at A$720,802 at the end of June, up from A$397,473 six months earlier, after EMH repaid a A$750,000 loan in full, narrowing its working capital deficit to A$531,217 from A$2,336,778. The auditor’s review conclusion was not modified, but for a pre-revenue developer still reliant on its joint-venture partner and outside capital, the funding question remains unresolved.

The post European Metals Widens Loss, Auditor Flags Funding Risk appeared first on AskTraders.com.

On the continent, sentiment was similarly cautious-to-firm, with the DAX up 0.1%, the CAC 40 up 0.3% and the Stoxx 50 up 0.3%.

The standout domestic story is the ONS’s latest GDP figures, with the UK economy having grown 0.4% in July, beating economists’ expectations. Services led the gains, up 0.6%, while production and construction both slipped 0.5%.

Geopolitics remains front and centre, with Brent having briefly climbed above $109 a barrel after Iran-backed Houthi militants seized key ground on the coast, stoking fears over shipping through the Bab el-Mandeb chokepoint.

Prices have since eased back, with Brent down 1.5% at $106.03 and WTI off 1.4% at $101.07, as Donald Trump insisted he has “no regrets” over the ongoing conflict with Iran.

After declines on Thursday, spot gold and silver are firm, with spot gold up 0.6% at $4,343 and silver up 0.5% at $63.92.

In the FTSE 100, British American Tobacco (+1.44%), Standard Life (+1.21%) and Games Workshop (+1.15%) lead the risers, while RELX (-2.33%) fell despite a bullish note from TD Cowen on Thursday naming it an AI beneficiary; LSEG (-2.02%) and Sage (-1.84%) also dragged.

In the FTSE 250, XP Power surged 10%, alongside SDCL Efficiency Income Trust (+3.45%) and Renishaw (+3.17%).

Harbour Energy fell 3.10% after confirming a $190m off-market share purchase from BASF, cutting the German firm’s stake to roughly 16.4%, while Playtech (-4.08%) and Applied Nutrition (-2.73%) also lagged.

Elsewhere, Berkeley Group flagged buyer caution ahead of October’s Budget, Trainline unveiled a £100m buyback, and Supermarket Income REIT completed a £104m grocery asset acquisition spree.

The post Friday Morning Markets: FTSE Steady as UK GDP Beats Forecasts appeared first on AskTraders.com.

PEG shares traded at 9.89p in early trade, up 1.4% from yesterday’s close of 9.75p, on thin volume of 4,802 shares. The stock remains below its 50-day moving average of 10.08p and its 200-day average of 10.35p, inside a 52-week range of 7.00p to 12.50p.

Petards published its interim results earlier today. Revenue dipped slightly to £7.7m from £7.9m a year earlier, but the group returned to an operating profit of £14,000, against an operating loss of £185,000 in the same period last year. The order book, the value of confirmed customer orders yet to be delivered, grew to £9.6m from £9.2m at the end of 2025, boosted by additional Rail orders announced in August and continuing work on the £2.2m Challenger 3 tank upgrade order from RBSL, the defence prime contractor.

Gross margin improved to 52.2% from 48.7% in the Rail and Defence divisions, and adjusted EBITDA, underlying earnings before interest, tax, depreciation and amortisation, rose 53% to £781,000 from £509,000. Cash generated from operations rose to £894,000 from £860,000, while net debt, excluding lease liabilities, fell to £1.155m from £1.339m at the end of 2025. No interim dividend was declared.

Petards is a thinly traded AIM microcap with a market capitalisation of about £6m, so the modest share move suggests the results were largely in line with already-improving expectations rather than a surprise to the market.

Chairman Raschid Abdullah said the improving trend “has continued into 2026, particularly in Rail and Defence where order intake has seen improvements over that of recent years,” adding that the board expects “another significant improvement in its results over those achieved in 2025,” with further net debt reduction expected in the second half.

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Shares in Kore Potash traded at 3.50p in early dealing, down 3.85% from the previous close of 3.64p, within a 52-week range of 2.705p to 4.10p. The stock carries a market capitalisation of roughly £188.4 million.

The dominant activity in the half was not construction but the Formal Sale Process, a regulated takeover mechanism under which a company actively seeks a buyer. One of two original suitors withdrew in February for internal reasons, before a fresh third party emerged in June, leaving two parties still conducting due diligence at the half-year end and beyond.

Cash and equivalents fell to $7.5 million at 30 June, down from $10.6 million at the end of 2025, while the loss for the period widened to $753,386 from $435,428 a year earlier. That dwindling cash buffer explains why markets are treating the sale process, rather than the accounts, as the swing factor for the shares.

Progress on the underlying Kola project continued only in a holding pattern. A beneficiation test condition under the PowerChina early works agreement was satisfied, but an update to the Environmental and Social Impact Assessment, a regulatory study required before major construction, was suspended at the end of May specifically to avoid pre-empting the sale process. The Kola project’s fixed-price construction contract with PowerChina remains subject to Financial Close, the point at which funding is fully arranged.

With cash reserves nearly a third lower than at the start of the year, Kore Potash’s near-term outlook now rests on whether either remaining suitor completes its due diligence, or on securing the Kola financing package needed before construction can begin.

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Shares dropped 13.85% to 2.8p in early trade, close to the stock’s 52-week low of 2.5p, having opened at 3p and topped out at the same level. The stock last closed at 3.25p.

The unaudited results, published this morning, showed revenue of £371,086 for the six months to 30 June, against nil a year earlier. The loss after tax more than doubled to £2.147m from £980,000 in the same period last year. Cash fell to £2.704m from £3.944m at the end of December, while total equity dropped to £552,023 from £2.89m. Directors disclosed a “material uncertainty” over the group’s ability to continue as a going concern, an accounting statement flagging real doubt the company can keep operating without more cash, contingent on cost control and future capital raises.

Management’s counter-narrative centres on banking partner Conister Bank, which is preparing to deploy the Plugin Overdraft commercially. The two firms have agreed an addendum to their services contract, and the platform has moved into a production environment, with first commercial deployment targeted around the end of the year, initially serving roughly 1.5 million existing customers of Payment Assist Limited.

Chief executive Dr Marko Sjoblom said: “Although 2026 has presented challenges, the actions taken during the period and subsequently have created a clearer operational and financial framework for both businesses.”

The scale of today’s sell-off suggests the market is weighting the deteriorating cash position and going-concern warning more heavily than management’s launch-timeline assurances, leaving the year-end deployment as the next concrete test of that narrative.

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The move higher reverses a softer patch for the stock, which had drifted from around 98p at the start of September to below 89p earlier in the week, before Friday’s announcement sparked a sharp rebound.

C&C said it had agreed to acquire Asahi UK’s wholesale interests, including Nectar Imports and Asahi UK’s direct distribution business, for nominal consideration.

The businesses will be integrated into C&C’s Matthew Clark Bibendum (MCB) division following completion, expected in early October, with MCB also entering a long-term partnership tied to Asahi brands in the UK. The agreement includes the transfer of supply arrangements to the Fuller, Smith & Turner on-trade estate.

Alongside the deal, C&C reported that net revenues for the six months to 31 August fell 3% on a constant currency basis, as 2% growth in Branded revenue was offset by a 4% decline in Distribution. Underlying operating profit for the half is expected to come in at €43-44 million, in line with guidance.

Chief executive Roger White said the acquisition would deliver “immediate scale and efficiency” and should make a small positive contribution to MCB’s performance in the current financial year, as investors welcomed the low-cost expansion of the group’s distribution footprint.

Attention now turns to C&C’s Capital Markets Day on 24 September and interim results on 28 October.

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In a research note, the BNP Paribas analyst said BAE Systems continues to benefit from robust demand across its defense portfolio, as elevated geopolitical tensions and rising government defense budgets in the UK, Europe and the US support a lengthy order pipeline.

However, the analyst argued that much of this positive momentum has already been priced in by the market, limiting near-term upside for the stock.

The initiation comes after a strong run for BAE Systems shares, which have rallied sharply over the past year alongside broader strength in European defense stocks, driven by increased military spending commitments from NATO members and ongoing conflicts in Eastern Europe and the Middle East.

Shares of the London-listed company gained 1.3% to 1,923.5p pence on Thursday. The stock has edged up 0.1% so far in Friday’s session.

BAE Systems, one of the world’s largest defense contractors, manufactures combat vehicles, submarines, warships, fighter aircraft components and cybersecurity systems, with major customers including the UK Ministry of Defence and the U.S. Department of Defense.

BNP Paribas’ Neutral stance places it among a mixed field of analysts on the stock, with some maintaining more bullish targets on continued order growth while others echo caution over valuation after the sector’s sustained rally. Investors will next look to BAE Systems’ upcoming trading update for further guidance on order intake and margins.

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Shares were changing hands at $0.548 in early London trade, up 5.4% from yesterday’s close of $0.52, though the move came on only 14 shares traded and cannot be read as a clear market verdict on the results. The stock remains well below its 52-week high of $0.8222, having fallen from more than $0.70 in January.

The half-year results, published via RNS earlier today, showed revenue rising to EGP 4,856 million from EGP 3,543 million, with net profit up to EGP 839 million and margin expanding to 17.3% from 16.1%. Egypt, which supplies 85.9% of group revenue, grew 41%, remaining the primary driver of the group’s performance. Group CEO Dr Hend El-Sherbini said: “We are pleased to report a strong first-half performance, reflecting the continued resilience of demand across our markets, the strength of IDH’s brands, and the scalability of our operating platform.”

Management flagged continued investment as an ongoing drain on cash, with net cash falling to EGP 239 million at the end of June from EGP 472 million at the start of the year. Against that backdrop, the Board opted to preserve cash rather than pay a further dividend, citing capital requirements and regional geopolitical uncertainty.

The decision follows Hena Holdings, the vehicle through which the founding family controls IDH, completing a mandatory takeover offer in August that lifted its stake from 49.62% to 56.67%, leaving just 43.33% of shares in public hands. With the free float reduced and the Board favouring cash preservation over payouts, capital allocation rather than the underlying growth story is now the key swing factor for minority shareholders.

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The stock, which has slid from around 16% year-to-date, continues to trade near the lower end of its recent range following the update.

In its trading statement covering the four months to 31 August, Berkeley said sentiment and core economic indicators had weakened further since the start of its financial year, citing the prolonged Middle East conflict and ongoing UK political uncertainty.

The company said enquiry levels remained “good and stable” but that cautious buyers without an immediate need to move continued to hold back, a pattern consistent with June’s full-year results.

Berkeley reiterated its four-year £1.4 billion pre-tax profit plan, unveiled in April alongside a 25% cut to planned production, and said profits would be slightly weighted towards the first half of the current year.

The group also confirmed it remains ahead of schedule on shareholder returns, having bought back £171 million of stock against a £640 million target running to 2030.

Investors appeared to focus on the cautious near-term outlook rather than the reaffirmed profit guidance, with the shares extending a decline that has taken the stock well below levels seen just a week earlier, as market participants weigh the impact of prolonged uncertainty on transaction volumes.

The post Berkeley Group Shares Under Pressure After Cautious AGM Trading Update appeared first on AskTraders.com.

Harbour said BASF Handels- und Exportgesellschaft, the German chemicals group’s trading arm, agreed to sell 53 million shares back to Harbour off-market at 266p each, for roughly $190 million, with the shares to be cancelled. Separately, BASF placed a further 80 million shares with institutional investors at the same 266p price, through bookrunner Morgan Stanley Europe SE. Together the deals covered about 133 million shares.

Harbour shares closed at 277.8p on Thursday and were trading around 270p to 271p on Friday morning, down about 2.7%, broadly in line with the roughly 4% discount at which the block was priced. About $40 million of the off-market purchase will be deducted from Harbour’s existing $250 million buyback programme announced in August.

BASF holds roughly 24.3% of Harbour, linked to the December 2023 Wintershall Dea business combination agreement, and, according to a March report, had earlier sold a $291 million stake at 273p. Following Friday’s deals, its stake falls to approximately 16.4%, with the remaining shares locked up for 60 days, limiting the risk of further immediate selling.

The lock-up carries limited carve-outs, including a 30-day carve-out for an existing broker-managed trading plan and for potential sales to Letterone Holdings under the December 2023 agreement covering Harbour’s original acquisition of Wintershall Dea’s upstream assets. The transactions were approved by Harbour shareholders at the company’s May AGM and formalised in a directed buyback contract agreed with BASF in June.

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