Metals One (LON: MET1) has expanded the agreement to treat uranium waste dumps with DISA Technologies. This covers the Uravan Belt uranium vanadium project in Colorado that is 100%-owned by Metals One. There are eight uranium mine waste dumps. DISA will start exploration work and seek permits. One will be paid a gross revenue share of saleable uranium and other minerals. The share price jumped 45.4% to 1.73p.

Zinnwald Lithium (LON: ZNWD) is recommending a bid by AMG Critical Materials, which already owns 29.3%. The offer is 5p in cash and 0.001577 of an AMG share for each Zinnwald Lithium share. This is estimated to be worth 10p/share and values the lithium project developer at £57.2m. The share price gained 26.9% to 8.25p.

Video editing technology developer Blackbird (LON: BIRD) has moved to a go to market phase for video editing platform elevate.io. The focus is marketing teams within businesses. There was £2.4m in cash at the end of April 2026. The share price rose 12.1% to 1.85p.

Conygar Investment Company (LON: CIC) increased NAV by £12.8m to £54.3m in the period to March 2026, although it is lower than at the end of March 2025. The NAV is equivalent to 91.6p/share. There was a £15.1m profit on the sale of land in Anglesey. A loan related to a student accommodation development has been extended to March 2027. Net bank borrowings were £38.7m at the end of March 2026. The share price increased 4.26% to 24.5p.

FALLERS

ValiRx (LON: VAL) is raising up to £1.155m at 0.2p/share. That includes a retail offer of up to £150,000. The drug developer is raising the cash to push forward the development of its IP. The share price dipped 17% to 0.2p.

Zanaga Iron Ore (LON: ZIOC) has raised £5.7m at 4p/share, which is more than originally sought. This will finance the development of the Zanaga project, including earthworks and sampling. The share price declined 5.81% to 4.05p.

Investment company Volvere (LON: VLE) improved full year revenues from £49m to £52.7m. Pre-tax profit rose from £6.34m to £6.75m. Cash and investments were £33.2m at the end of 2025. The trading subsidiary is food manufacturer Shire Foods and it has been hit by higher input costs and reduced volumes in 2026. Acquisitions are being assessed. NAV is £19.80/share. The share price fell 4.17% to £25.30.

Professional services network DSW Capital (LON: DSW) full year revenues are slightly ahead of expectations and pre-tax profit is in line with forecast of £1.3m. M&A activity continues to be impacted by global events. A new boss has been recruited for the legal division. The share price is 3.33% lower at 43.5p.

The FTSE 100 was sharply lower on Friday as rising bond yields in the US and UK sent stocks into a tailspin.

Rising UK bond yields make it clear what the market thinks of Labour’s ‘King of the North’ Andy Burnham as he moves to take a seat in parliament through a by-election.

The 30-year yield rose above 5.8% as investors dumped UK debt for fear of Burnham taking power and tearing up Labour’s current fiscally responsible policies.

If that wasn’t enough for UK traders, rising inflation risks in the US sent US treasury yields higher, which in turn dragged metals prices lower.

The weight of concerning developments was too much for traders to bear on Friday, and the FTSE 100 was down over 1.4% at the time of writing.

“The FTSE 100 fell as emerging evidence of inflationary pressures and domestic political uncertainty combined to put investors on edge,” said AJ Bell investment director Russ Mould.

“The decision of a Labour MP to stand down and pave the way for Andy Burnham to return to parliament – likely as a precursor to a leadership challenge – has seen gilt yields move yet higher.

“While there’s no guarantee Burnham would win a by-election or contest to be prime minister, the fact he is on record as saying Britain must stop being ‘in hock to bond markets’ has helped push UK borrowing costs higher and seen the pound slump.”

The FTSE 100 leaderboard didn’t make for good viewing on Friday, with most stocks trading negatively, some deep in the red.

Miners were the hardest hit as metal prices tumbled amid inflation concerns. Precious metals miner Fresnillo is no stranger to volatility, and a near-3% decline in gold prices sent the stock down 8% to the bottom of the leaderboard.

Anglo American and Antofagasta were down 6% and 7.5%, respectively.

Airtel Africa shed 7% and reversed all gains after a shareholder signalled it was reorganising its holdings in the firm earlier this week.

The fear of rising UK bond yields was felt in utilities companies, with the usually stable United Utilities, Centrica and SSE all falling more than 4%.

UK banks and housebuilders were all lower.

3i Group was the FTSE 100’s top riser as it rebounded from yesterday’s sell-off. Shares were 4% to the good.

TT Electronics has had a mixed start to 2026 in its AGM trading update, with continued strength in Aerospace and Defence partly offsetting expected softness in EMS end-markets.

Group revenue in the four months to 30 April was 4.8% lower than the prior year on an organic basis, reflecting softness in EMS demand flagged in the FY25 results.

Stripping out a £10m drag from the previously announced customer transfer between TT Suzhou and TT Kuantan, plus the Plano site closure, the underlying picture isn’t too bad with group revenue rising 2.9% organically.

The more encouraging signal is book-to-bill at 107%, driven largely by Aerospace and Defence, where structural tailwinds continue to support strong customer demand. With defence spending firmly in growth mode globally, this remains the standout growth engine.

Today’s update covered operations and progress on the shift to a divisional structure that aligns more closely with how customers engage.

The cost reduction programme remains on track to deliver a net £3m benefit in 2026, with the annualised run-rate expected to double over the medium term. Sales transformation efforts, including investment in business development, CRM and pricing.

This was a steady as you go update that was reflected in shares trading little changes at the time of writing.

Cornish Metals has lined up a further £52m in credit facilities from two of its substantial shareholders, building on the US$210m Nordic bond placement announced just over a week ago and shoring up funding for its South Crofty tin project in Cornwall.

The new facilities come from the National Wealth Fund and Vision Blue Resources, existing investors holding 28.45% and 29.08% respectively, with the National Wealth Fund providing up to £35m and Vision Blue providing up to $22.75m.

Each is split into a committed Tranche 1 and an uncommitted Tranche 2, giving Cornish flexibility on draw-down.

The financing will support underground mine development, shaft refurbishment, surface facilities, infrastructure and general operating purposes.

Don Turvey, CEO of Cornish Metals, said: “This funding provides the Company with the financial runway to progress through to the final investment decision for the South Crofty project while continuing to advance and derisk the project by maintaining the high level of activities across site.”

“It also signals the National Wealth Fund’s and Vision Blue’s continued support for Cornish Metals and our goal to restart tin mining in Cornwall, providing a sustainable supply of this critical mineral to the West.

“As part of the project financing process, the Company has been engaging with investment parties, including strategic offtakers and institutional investors, interested in financing the development of South Crofty, and we are pleased with the level of interest we are receiving, further highlighting the significance of this project. We thank the National Wealth Fund and Vision Blue for their continued support.”

Nvidia closed at a record high overnight after the US authorised the sale of high-powered chips to ten Chinese companies.

The authorisation came after Nvidia CEO Jensen Huang joined the US President on a trip to China to boost trade relations following a frosty trade war last year.

The US has reportedly approved the sale of H200 chips to ten Chinese companies, including Alibaba, Tencenet and ByteDance. This is half of the battle with Nvidia now requiring the Chinese to soften their approach to foreign-made chips.

The US approval has been taken well by the market, and Nvidia closed at $235.74 overnight – a fresh all-time closing high.

But the lack of an immediate deal with Nvidia sent shares lower in the US premarket.

“Chips are the backbone of tech advancement and have played a key part in the US president’s tariff wars as he’s pushed to alter the world trading map. But US consumers have been hurting, and with the Iran war piling pressure on the administration to do something to dampen down inflation, these talks could deliver crucial changes,” said AJ Bell head of financial analysis Danni Hewson.

“Nvidia is already flying high, but the ability to expand its footprint and serve more customers in China’s lucrative market would help lift sales higher. Investors appear to be betting this trip is going to deliver more than just photo ops as shares in the chip giant have continued to climb.”

TheraCryf (LON: TCF) says clinical trial enabling work for the Ox-1 blocker for treating substance use disorders is ahead of plan. Manufacturing has been scaled up, and dosing is complete in the rodent toxicology study. The remaining activities should be completed in the third quarter enabling the move to a phase 1 study in human volunteers. An application for a phase 1 clinical trial is expected to be submitted this year. The share price increased 15.9% to 0.255p.

Recruitment firm Gattaca (LON: GATC) has sparked an upgrade with its latest trading statement, which suggests that it is outperforming its rivals. Contract recruitment is doing better than expected and cost have been kept under control. Defence, energy and infrastructure sectors have been strong. Panmure Liberum has raised its 2025-26 pre-tax profit forecast by one-third to £6m. The share price gained 14.3% to 124p.

OptiBiotix Health (LON: OPTI) plans to demonstrate its SweetBiotix product to shareholders in June. It will also update them on the progress of other products. The share price rose 14% to 5.7p.

Video surveillance technology developer Thruvision (LON: THRU) has added RedteQ in the UK and Bavak Security in the Netherlands to its value added reseller network. This will provide additional impetus to sales. The share price improved 3.23% to 0.8p.

FALLERS

First quarter results from Touchstone Exploration (LON: TXP) show average production of 4,657boe/day. Production was slightly higher in April and commissioning of the Cascudura compressor will further increase the rate. There also two new wells set to come onstream. Quarterly revenues were 14% higher at $12.5m. Net debt was $76.1m at the end of March 2026. Pricing for gas sales in Trinidad is fixed until October 2027. Oil sales benefit from the current higher price. The share price slumped 22.6% to 0.6p.

Telematics company Microlise (LON: SAAS) is focusing on direct business as renewals from OEMs are suffering pressure on pricing and the loss of contracts. Direct annualised recurring revenues were 16% higher, despite delays to some contracts, but this was partly offset by a 13% reduction in the OEM figure. Pre-tax profit slumped from £6.5m to £2.6m. Net cash increased to £16.7m. Capital investment will be sharply higher in 2026 and 2027 and that will use up some of the cash. The final dividend was raised from 1.24p/share to 1.3p/share. The share price slid 15.5% to 49p.

Trading conditions have got worse for meat and agricultural products producer Zambeef (LON: ZAM) with 2025-26 revenues expected to be one-fifth below market expectations. Trading has been poor since the start of the Middle East conflict and fertiliser prices have increased, although Zambeef has enough fertiliser until September. Revenues are still expected to improve from $302.6m to $323.9m, while pre-tax profit should recover from $9.5m to $12.1m. The higher fertiliser prices could hit next year, and pre-tax profit is currently expected to decline to $10.3m. The share price declined 6.86% to 4.75p.

Tap Global Group (LON: TAP) is offering Tap Earn to eligible customers in the UK. This offers a yield of up to 7% on supported stablecoin holdings, up to 3.5% on Ethereum and up to 2.5% on Bitcoin. Tap Earn is available across all the company’s markets. The share price fell 4% to 1.2p.

Ex-dividends

FRP Advisory (LON: FRP) is paying a dividend of 1p/share and the share price dipped 0.5p to 113.5p.

Tracsis (LON: TRCS) is paying an interim dividend of 1.3p/share and the share price is unchanged at 355p.

The FTSE 100 rose on Thursday after US stocks closed at a record high overnight, driven by technology shares.

Record highs for US stocks were achieved despite higher inflation, suggesting underlying investor optimism and a willingness to look past the risk presented by the Middle East conflict.

“Back-to-back hot inflation prints — CPI at 3.8% annually and PPI surging 6.0% year-on-year — and yet the S&P 500 managed to push to new record highs,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

“Markets are making a clear bet that the earnings cycle, still delivering double-digit growth for a sixth consecutive quarter, can absorb an inflation premium that the Fed will need to stop pretending is transitory.”

London’s leading index was trading up 0.2% up at the time of writing as UK-focused investors felt the positivity emanating from across the pond.

Bond market calm also encouraged people to return to UK stocks, with UK growth in Q1 helping lift the mood.

“Gilt yields were steady as a potential challenge to Keir Starmer’s premiership continued to bubble away in the background, while domestic-facing stocks regained some of the losses endured amid this week’s turmoil,” explained Dan Coatsworth, head of markets at AJ Bell. 

“However, the latest goings-on in Westminster could be overshadowed by global events as Donald Trump continues talks with Beijing. As well as progress on trade, markets are alive to the possibility the summit might pave the way for China to help the US on Iran.

“Oil prices remain firmly back above $100 per barrel but below the highs seen last month.”

In London, Legal & General was the FTSE 100’s top riser after the Financial Times reported that several potential suitors were considering bids for the company.

L&G shares were over 5% higher at the time of writing.

3i Group was the FTSE 100 top faller as bad news from its largest holding, Action, sent the investment trust into a tailspin.

“Shares in FTSE 100 investment trust 3i Group crashed 19% after the company paid the price for being too reliant on a single holding. Its portfolio is dominated by Dutch value retailer Action whose news flow has soured of late,” said Dan Coatsworth, head of markets at AJ Bell. 

“For a long time, Action was seen as invincible, one of the fastest growing retailers in Europe and the reason why investors were happy to pay a large premium to own 3i Group shares. That goodwill has now disappeared.

“First, 3i Group warned that Action wasn’t doing as well in France, then it revealed the retailer would try its luck at the highly competitive US market. Now we’ve got a warning of a broader slowdown in sales growth, blamed on France again and lower footfall in Germany.”

Burberry shares were 8% lower despite the CEO saying they were at an ‘inflexion’ point with full year sales returning to growth. Investors weren’t impressed and may be concerned about future growth and the impact from the Middel East war.

Burberry has swung back into profitable comparable sales growth, with chief executive Joshua Schulman hailing a “meaningful inflection point” as the trench coat maker closed out its financial year with a notably strong fourth quarter.

Comparable store sales rose 2% over the 52 weeks to 28 March 2026, reversing a 12% decline the previous year. The pace accelerated through the period, with Q4 up 5% group-wide, led by double-digit growth in Greater China and the Americas, both up 10%. Asia Pacific added 3% and EMEIA slipped 2%, weighed down by softer tourist flows and the Middle East conflict late in the quarter.

Outerwear outperformed in every region, while scarves were up double digits in the second half, helped by the rollout of 200 in-store scarf bars. Polo galleries and trench destinations are next, due in FY27. E-commerce climbed by a high-teens percentage.

Profitability improved dramatically. Gross margin came in at 67.9%, up 530 basis points at constant currency, while adjusted operating profit jumped to £160m from £26m.

If all the numbers were strong, why are Burberry shares down on Thursday? This is probably because the stock has had a strong run into results, and there are some signs of an impact from the war in the Middle East.

Mark Crouch, market analyst for eToro, says: “Burberry’s latest results suggest the fashion house is finally beginning to regain its footing after one of the most turbulent periods in its recent history.”

“Three consecutive quarters of sales growth may not sound like much by luxury sector standards, but for Burberry it represents something arguably more important, stability. After a bruising period that saw investor confidence collapse and shares tumble sharply through 2024, the last year has at least offered signs of positive consistency.”