Allegations of an Israeli attack on Iran sparked a rally in safe-haven currencies like the Swiss franc and Japanese yen amid heightened tensions between the two nations. The news caused a ripple effect across global markets, influencing oil prices and instilling caution among investors. Undisclosed sources claim Israel launched strikes against Iran, ostensibly in retaliation for Iran's recent assault on Israel following a suspected Israeli hit on its consulate in Syria. Though Iran tried to downplay the incident, stating no immediate retaliation plans, markets reacted violently. The fallout t ..read more

Shares in Nexus Infrastructure (LSE: NEXS) initially climbed over 6% on Friday morning following the announcement of a growing order book amid cautious market conditions. Nexus said it anticipates revenue of approximately £26 million for the half-year ended March 31, reflecting a 49% decrease from £51.0 million compared to the previous year, aligning with internal projections. Chief Executive Charles Sweeney acknowledged customer wariness in awarding new contracts, attributing it to market uncertainty. However, the company reported a 26% increase in its order book to £72 million as of March 3 ..read more

British retail sales hit a standstill in March despite recent inflation easing, marking the first time they've remained stagnant in monthly terms since December, according to the latest report from the Office for National Statistics (ONS). Economists had anticipated a modest uptick in sales volumes by 0.3% for the month. However, the ONS revealed that sales volumes showed no growth following a marginal 0.1% rise in February, catching many experts off guard. The report highlights contrasting trends within the retail sector. While automotive fuel sales surged to their highest levels since May 2 ..read more

A US jury has found cryptocurrency trader Avraham Eisenberg guilty of fraud charges stemming from his manipulation of the Mango Markets decentralised exchange last October. The 28-year-old was convicted of commodities fraud, commodities manipulation, and wire fraud in the US Department of Justice's first criminal case involving crypto market manipulation. Prosecutors accused Eisenberg of exploiting the Mango platform, operated by Mango DAO, to artificially inflate the value of his futures contracts linked to the MNGO token and USD Coin stablecoin. By simultaneously buying and selling these co ..read more

Escalating geopolitical risks in the Middle East have ignited a surge in gold prices, propelling the precious metal past the $2,400 per ounce mark on Friday. Multiple media reports emerged claiming Israeli missile strikes across several Iranian cities, including the nuclear facility hub of Isfahan, in retaliation for last weekend's drone attack on Israel. Although Iranian state media swiftly denied any foreign aggression, the unconfirmed reports were sufficient to rattle investor nerves and trigger a broad flight to safety. The yellow metal, renowned as a traditional safe-haven asset, rallied ..read more

It was another mixed day for London stocks on Thursday, with the FTSE 100 closing higher, despite the prospect of higher for longer US interest rates hanging over stocks, while initial jobless claims for the week came in steady. The FTSE 100 index closed up 0.4%, at 7,877.05. The FTSE 250 ended up 0.6%, at 19,450.67, and the AIM All-Share closed up 0.3%, at 745.29. Upbeat Travel Sector British Airways parent International Consolidated Airlines Group rose 4.3% in a positive read-across from budget airline easyJet +2.3%. easyJet reported a "positive outlook" and said its "seasonal" losses eased ..read more

Hipgnosis Songs Fund (LSE: SONG) shareholders saw their investment rise in value along with the announcement of a $1.4 billion cash acquisition by Concord Chorus Ltd (Concord) on Thursday. The deal, a 32% premium over SONG's Wednesday closing price, will see Concord pay $1.16 or 93.2 pence per share. This news sent SONG's shares soaring over 30%. This comes amid an ongoing dispute between SONG and its investment advisor, Hipgnosis Songs Management (HSM), concerning valuation and governance. The song fund believes Concord is best positioned to manage its music catalogue. The agreement includes ..read more

easyJet (LSE: EZJ) shares climbed 3.4% on Thursday after the airline reported a positive outlook for the rest of its financial year and trimmed seasonal losses in the first half. The budget carrier's revenue for the six months to March 31st is expected to jump 22% to £3.27 billion, up from £2.69 billion. Pre-tax losses narrowed to £350 million from £411 million. Despite a £40 million hit from the Middle East conflict, easyJet highlighted strong Easter demand and summer bookings, with 70% of its package holiday programme already sold. The company expects customer numbers to grow by more than 3 ..read more

National Grid (LSE: NG) shares climbed 2.7% on Thursday after the company raised its full-year earnings guidance, on the back of a recent accounting change. The FTSE 100 utility firm said the revised reporting method, to be implemented in its 2024 financial results, will boost underlying earnings per share (EPS) by an estimated 8 pence per share. Consequently, National Grid now expects underlying EPS for the financial year ending March 31, 2024 to be in line with the previous year's figure. The company reported an underlying EPS of 69.7 pence for financial 2023. The accounting change aligns N ..read more

Dunelm (LSE: DNLM) shares fell 4.5% on Thursday after the homeware retailer reported third-quarter sales growth of 3% to £435 million but cautioned about tough market conditions. Despite challenging markets, volume sales growth was observed across both stores and digital channels, with digital sales accounting for 37% of the total. The company maintained its full-year profit forecast, broadly in line with market expectations of £202 million, representing a 4.7% year-on-year increase. "We've delivered a resilient performance with continued sales growth despite challenging conditions," said CEO ..read more