15th Aug 2025 07:49
(Alliance News) - The FTSE 100 was called to open higher on Friday, ahead of a busy schedule for US data releases.
Meanwhile, talks regarding a potential treaty to deal with plastic pollution ended without a deal being reached.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called up 0.5% at 9,225.44
GBP: higher at USD1.3552 (USD1.3541 at previous London equities close)
----------
ECONOMICS
----------
Japan's industrial production growth in June was better than expected, revised data published by the Ministry of Economy, Trade & Industry showed on Friday. The seasonally adjusted index of production rose 2.1% in June, upwardly revised from 1.7%, and after a fall of 0.1% in May. On-year, it rose 4.4%, beating preliminary data of 4.0%, and compared to a 2.4% decline in May. Shipments fell by 0.8% monthly in June, in line with preliminary data, after growth of 2.4% in May. Annually, shipments rose 3.8% in June as previously estimated, after a decline of 2.3% in May.
----------
Talks aimed at striking a landmark treaty on tackling the scourge of plastic pollution ended Friday with no consensus on a last-ditch proposal aimed at breaking the deadlock. Negotiators from 185 countries went through the night in a bid to try and find common ground but the talks at the United Nations in Geneva, which began on August 5, ended without a deal, despite running past Thursday's deadline. Palau, speaking for 39 small island developing states, or SIDS, voiced frustration at repeatedly investing resources and personnel in such talks and "repeatedly returning home with insufficient progress to show our people". "It is unjust for SIDS to face the brunt of yet another global environmental crisis we contribute minimally to." The High Ambition Coalition, which includes the EU, Britain and Canada, and many African and Latin American countries, wanted to see language on reducing plastic production and the phasing out of toxic chemicals used in plastics. A cluster of mostly oil-producing states calling themselves the Like-Minded Group – including Saudi Arabia, Kuwait, Russia, Iran, and Malaysia – want the treaty to have a much narrower remit focused on waste management.
----------
BROKER RATINGS
----------
Berenberg raises Admiral Group price target to 4,000 (3,850) pence - 'buy'
----------
Deutsche Bank Research raises Hill & Smith price target to 2,625 (2,550) pence - 'buy'
----------
Citigroup raises Flutter price target to 27,500 (25,200) pence - 'buy'
----------
COMPANIES - FTSE 250
----------
European Opportunities Trust released its annual financial report. Its net asset value at May 31 was 968.89 pence, down 3.9% from 1,008.48p one year prior. The NAV total return for the year ended May 31 was minus 3.7%, against positive 15.5% the year before. The benchmark MSCI Europe Index meanwhile generated a positive 8.0% return. The pretax return was negative GBP27.1 million, swung from positive GBP99.3 million. European Opportunities declared a 2.0p per share annual dividend, unchanged. Looking ahead, the trust said its performance has shown "some signs of recovery...in recent months". "Trump turmoil has made European equities look relatively attractive," Chair Matthew Dobbs commented. "This, together with lower oil and gas prices (a particular positive for Europe), make for an encouraging backdrop for the Company's investment strategy."
----------
Murray International Trust reported half-year results. Its NAV per share at June 30 was 287.9p, up from 278.4p at December 31. Its total return was positive 6.0%, compared with the reference FTSE All World TR Index which returned positive 1.0%. Murray said it has declared a 2.6p per share second interim dividend, up from 2.5p the year before. Philip Morris, Grupo Asur and Hong Kong Exchange were among the trust's best contributors, while among its biggest detractors were Merck & Co, Bristol-Myers Squibb and Diageo.
----------
Bytes Technology Group is starting a share buyback, effective today, worth up to GBP25 million. "After considering the company's strong balance sheet position and prevailing share price, the board believes that it would be beneficial to return capital to shareholders through a share repurchase," Bytes said. It intends to cancel all shares repurchased.
----------
OTHER COMPANIES
----------
Vaultz Capital has appointed Aleksander Nowak as its chief operating officer with immediate effect, in a non-board position. The company said Nowack is a "blockchain expert", adding: "Aleksander Nowak is an accomplished leader with over 20 years of experience across fintech, blockchain, military, and maritime security sectors. As the founder & chief information officer of BlockEx, he conceptualised and architected a digital asset platform." "Alek's inclusion strengthens the Vaultz leadership team, and with support of a distinguished Bitcoin Advisory Board, the board is confident we are well positioned to accelerate our long-term goals," Chief Executive Eric Benz commented.
----------
Afarak Group reported its first-half results. Revenue increased 8.0% on-year to EUR77.1 million in the six months, from EUR71.4 million. Pretax profit surged 79% to EUR3.4 million from EUR1.9 million. Processed material sold increased by 29% to 15,354 tonnes from 11,922 tonnes. Afarak noted that it generated a EUR2.4 million gain during the period, having successfully completed the sale of its Ilitha and Zeerust mining assets in South Africa. Looking ahead, Afarak expects the market for standard grade low carbon ferro-chrome to be "stable" with "modest upwards potential", although a "weak USD could easily wipe out any price increases, and cheap imports especially from Kazakhstan...will continue to weigh". "The chrome ore business, on the other hand, is expected to produce better margins," it added. Chief Executive Officer Guy Konsbruck said:" The fact that 80% of our sales happen in the USD currency which has strongly devaluated, added another adverse condition to this picture. Under the light of all the above, we can be satisfied with the results of H1/2025. Afarak has been for many years now the only Western producer of low carbon ferro-chrome, a critical material for production for aerospace, defense, automotive, green energies, and various other industries."
----------
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
AdmiralHill & SmithFlutter EntertainmentEuro Opps Tr.Murray InternationalBytes TechAfarak GroupDiageo