Track market-moving stories before they get noisy

Connecting Excellence Group Plc (AQSE:XCE, OTCQB:XCELF), the AQSE-listed executive recruitment business that operates a Bitcoin treasury strategy, has appointed Carlos Benito-Garcia as chief performance and growth officer to accelerate the growth of its Spencer Riley operation.

Benito-Garcia brings more than 30 years of leadership experience spanning executive recruitment and the global pharmaceutical sector, including senior roles at GSK, Pfizer, AstraZeneca and IQVIA, where he led a 2,500-strong organisation.

His most recent decade has been spent in executive search, including a role helping scale a Leeds-based firm from inception to more than 70 consultants within three years, and an international leadership position at Antal International across a franchise network of more than 120 offices in 30 countries.

At Connecting Excellence Group, he will lead talent attraction, shape the group's acquisition strategy and oversee the development of new operating subsidiaries.

Chief executive Scott Ellam said Benito-Garcia brought "a powerful combination of deep commercial leadership, operational discipline, and a proven ability to scale recruitment businesses at pace."

Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) shares rose 3.6% in early trading after the mining giant said its iron ore port operations in Western Australia had largely resumed following tropical cyclone Narelle.

The FTSE 100 company said three of its four Pilbara port terminals, including East Intercourse Island, had restarted ship loading on 28 March, with repairs underway at the fourth, Cape Lambert A, expected to be completed within days.

Port closures began on 24 March as the cyclone passed over the Pilbara, a remote coastal region in northwest Australia that is home to the world's largest iron ore export operations.

Combined with tropical cyclone Mitchell in February, recent weather events have disrupted around 8 million tonnes of shipments, of which Rio Tinto said it had identified a pathway to recover approximately half.

Despite the disruption, the company left its full-year Pilbara shipment guidance unchanged at 323 to 338 million tonnes.

Rio shares are down over 7% since the start of the Iran war at the end of last month, though off their worst. 

Last week, Rio Tinto told investors that a new A$2 billion funding partnership with the Queensland and Commonwealth governments will help secure the long-term future of the Boyne aluminium smelter in Gladstone, keeping the operation internationally competitive beyond its current power contract.

4:20pm: Tech powers gains Stocks finished higher on Thursday, with both the S&P 500 and Nasdaq notching fresh record closes as investors continued to lean into risk.

The Nasdaq rose 0.4% to 24,103, the S&P 500 added 0.3% to clock 7,041 points, and the Dow Jones gained 0.2% at 48,579, extending a steady upward trend across major indexes.

Sentiment was helped by news that President Trump said Israel and Lebanon have agreed to a temporary ceasefire, easing some geopolitical tension and supporting a more constructive tone in markets.

On the sector front, it was a familiar story: Energy, Consumer Discretionary, and especially Technology led the way. Tech has now been at the center of the rally for roughly the past two weeks, with semiconductors continuing to do much of the heavy lifting as investors double down on AI and chip-related momentum.

After the close, attention is turning to Netflix earnings, which could be the next key test for sentiment around high-multiple tech and consumer names.

3:45pm: Proactive news headlines 374Water Inc (NASDAQ:SCWO, FRA:8LL) is accelerating a growth strategy focused on scaling waste destruction services and expanding its PFAS-destroying AirSCWO systems across municipal, federal, and industrial markets. 1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has restarted underground access at its True North mine in Manitoba as it advances dewatering and rehabilitation work ahead of a planned 2027 production restart. Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) reported an independent resource estimate for its Turkish Block M47 concession, outlining multi-million-barrel contingent oil potential ahead of future drilling. Tiziana Life Sciences Ltd (NASDAQ:TLSA) reported preclinical findings suggesting its intranasal foralumab therapy may reduce brain inflammation and improve cognitive symptoms linked to Long COVID. Sona Nanotech Inc (CSE:SONA, OTCQB:SNANF) appointed two oncology experts to its scientific advisory board to support ongoing cancer-related clinical and research programs. Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) joined a US Department of Defense-backed consortium aimed at strengthening domestic critical mineral supply chains, particularly for copper. HIVE Digital Technologies Ltd (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) plans to raise about $75 million via exchangeable senior notes due 2031 to support its corporate and expansion initiatives. Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) increased its ownership in the Banio Potash Project in Gabon to 80% after completing a milestone payment tied to updated resource reporting. 2:55pm: Market movers Hims & Hers Health shares jumped after the U.S. Food and Drug Administration began reviewing wellness peptides that could affect compounding pharmacy offerings. QVC Group said it plans to file for Chapter 11 bankruptcy to restructure roughly $5 billion in debt while continuing operations, sending its shares sharply lower. Abbott Laboratories (NYSE:ABT) shares slipped despite a slight earnings beat as investors focused on a projected 2026 profit hit tied to its acquisition of Exact Sciences. Tiziana Life Sciences Ltd (NASDAQ:TLSA) reported early-stage data suggesting its intranasal therapy foralumab may reduce brain inflammation and improve cognitive function linked to Long COVID. 2:00pm: Netflix on deck Netflix Inc (NASDAQ:NFLX, XETRA:NFC) is expected to report first quarter 2026 results slightly ahead of its own guidance, according to UBS analysts, who also pointed to a combination of recent price increases and expanding advertising efforts as key drivers of growth this year.

UBS expects Netflix’s Q1 results to come in slightly ahead of company guidance, forecasting foreign-exchange-neutral revenue growth of 14.4% and operating income growth of 17%.

For the full year, the analysts project revenue to grow 14% with operating income rising 26%, supported by improved margins and lower costs.

Shares of Netflix were trading around $108 on Thursday afternoon.

12:50pm: Equity rally cools Chris Beauchamp, chief market analyst at IG, said the continuation of the equity rally now depends on further US-Iran talks.

“Headlines can only drive a market so far," Beauchamp commented. 

"Having posted an eye-watering surge from the end of March, equity markets now need substantive progress in talks if the recovery is to make further progress. Without it, investors will soon start to fret about the impact on the global economy of the straits closure, though in fairness that is a problem that needs navigating sooner or later.”

11:45am: Today's price action worth watching While the Iran conflict is becoming less of a focus for investors, any negative headlines suggesting the end of the fighting isn’t close can still spark moves in the market, XTB research director Kathleen Brooks commented.

Worries that US–Iran peace talks could take longer than expected weighed on riskier assets at the start of trading on Thursday, but a run of upbeat sentiment has helped markets bounce back.

"Today’s price action in the US is worth watching," Brooks noted. 

"Tesla, Microsoft, Uber and Oracle were the top performing stocks on Wednesday as tech continues to dominate. Can they continue to rally if markets are concerned about the speed of talks between the US and Iran, or if people think the Allbirds news is the sign of a bubble."

10:50am: TSMC beats expectations Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) reported first quarter 2026 results that exceeded market expectations, driven by sustained demand for advanced chips used in artificial intelligence applications.

The company posted net income of NT$572.48 billion (approximately $18.16 billion), marking a 58% increase from a year earlier and surpassing analyst estimates that ranged between NT$540 billion and NT$543 billion.

Earnings per share came in at NT$22.08 ($0.70), above forecasts of $0.66.

Revenue for the quarter totaled NT$1.134 trillion (about $35.9 billion), slightly ahead of expectations and representing a 35.1% increase year-over-year. In US dollar terms, revenue rose 40.6% compared with the same period last year.

Profitability metrics also improved. 

9.50am: Dow opens higher, Nasdaq dips It's a mixed open for US stocks, with the Dow Jones beginning by rebounding from yesterday's dip, up 0.3% initally but seeing that slim to just over 0.1%.

Salesforce, Sherwin-Williams, IBM, Microsoft and Nike are leading the blue-chip index higher, all up over 1%. 

The S&P 500 only tiptoed further into record territory, up 0.1%.

And the Nasdaq is starting in the red, down 0.1%. 

Chip stocks lead losses on the Nasdaq, with Nvidia, ASML and Micron all lower as investors take profits after the recent rally.

Gains are more selective, with Microsoft joined by AMD and Palantir.

8am: Slow started for Wall Street predicted US stocks are predicted to get off to a slow start on Thursday, after Wall Street saw various fresh record highs reached in the previous session.

Nasdaq 100 futures were up 0.2%, with those for the Dow Jones and S&P 500 up 0.1%.  

A day earlier, the S&P climbed 0.8% to above 7,000 for the first time, capping a sharp rebound from late-March's eight-month lows, while the Nasdaq Composite jumped 1.6% to its own record high at 24,016. The Dow slipped 0.2% to 48,464 as Caterpillar and JPMorgan Chase led a group of cyclicals and financials lower.  

Overall optimism has been driven by hopes of progress in US-Iran talks, with reports overnight that a Middle East ceasefire extension could be agreed to enable more talks between the US and Iran.

US President Donald Trump said the war is "close to over" and suggested a second round of face-to-face talks with Iran will take place in Pakistan by the end of the week.

Israel and Lebanon's leaders are also due to talk today, Trump said in a social media post, for the first time in 34 years.  

Also in the background, China announced stronger-than-expected GDP growth of 5% for the first quarter.

Market analyst David Morrison at Trade Nation noted that the month-long selloff that began at the end of February when the US and Israel launched attacks against Iran, and knocked about 8% off the S&P at its lowest point, has seen the index since soar over 11% to new highs.  

This has been helped by the ‘Mag 7’ tech titans going on "an absolute tear" since the end of March, as have semiconductors and some banks, despite some mixed first quarter results.

"Investors piled back in to ‘buy the dip’, repeating a behaviour that has proved consistently profitable since October 2022," he said.

"The ceasefire called late Tuesday last week appears to be holding, although the Strait of Hormuz remains closed to most shipping, and it’s still unclear how effective the US blockade of Iranian ports in the region is proving to be.

"One thing is for sure: investors seem comfortable adding to their exposure to equities despite an oil price which is up over a third since hostilities began, and, as around 20% of the global supply of crude oil, liquified natural gas, fertilisers and helium remain offline. It’s one thing to live with high energy prices. It’s quite another to live without any energy."

On a technical analysis view, all the US majors are "looking overbought at current levels", Morrison said, having risen "too far too fast, suggesting that a pullback may be on the cards".

In corporate news, Taiwan Semiconductor (TSM) reported overnight and beat expectations, with chip demand momentum continuing. Shares are down 1.9% premarket, though. 

Netflix reports after today's close, with Pepsico, Abbott Labs, Charles Schwab, Prologis, BoNY Mellon, US Bancorp, Marsh and Travelers Companies, the smallest company in the Dow. 

Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0), a uranium exploration company focused on Saskatchewan’s Athabasca Basin, announced plans for a non-brokered financing of up to C$900,000 through the sale of as many as 9 million units priced at C$0.10 each.

The company said the offering will be conducted under the listed issuer financing exemption, allowing the securities issued to be free of hold periods under applicable Canadian securities laws.

Each unit will include one common share and one-half of one common share purchase warrant. Each whole warrant will allow the holder to purchase an additional common share at C$0.15 beginning 61 days after the closing date of the offering and remaining valid for 36 months.

The warrants will also include an accelerated expiry provision. Standard Uranium said that if its shares trade at or above C$0.30 for 10 consecutive trading days after the initial 61-day period, the company may accelerate the expiry date by issuing a press release, after which warrant holders would have five days to exercise them.

The company said net proceeds from the financing are expected to support exploration work at its Davidson River project as well as general working capital purposes.

UBS has flagged the risk of a "super El Niño" developing from mid-2026, which it says could tighten the seaborne thermal coal market and push prices higher, with Indonesian and Australian producers set to benefit.

The World Meteorological Organisation expects an El Niño event to develop in the coming months, and some scientists predict it could be the strongest this century based on high Pacific Ocean surface temperatures.

UBS said such events typically trigger intense and prolonged heatwaves across Asia, where coal-fired plants account for roughly 70% of electricity generation in India and around 55% in China and across the region more broadly.

Higher demand for air conditioning should lift overall coal consumption and coal imports, while in Latin America and Africa, changes to rainfall patterns associated with El Niño can reduce output from hydroelectric dams, which provide a significant share of generation in both regions.

With global power systems already under strain from the US-Iran conflict, UBS sees a risk that the weather event could compound existing supply pressures.

The broker noted a potential constraint on Indonesian supply from new export quotas, though feedback from a recent industry tour suggested authorities are willing to approve additional quota allocations following recent price rises.

On iron ore, UBS said March quarter shipments from the major producers were broadly resilient and generally in line with or modestly ahead of expectations despite weather disruptions, with Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF), BHP Group Ltd (LSE:BHP, ASX:BHP), Anglo American PLC (LSE:AAL) and Vale all delivering solid operational performances.

Fortescue was more mixed, with solid haematite shipments offset by disappointment at its Iron Bridge magnetite project, leading to a guidance downgrade.

Iron ore prices have risen to $112 per tonne, supported by higher freight rates, with Australia-to-China shipping costs up $5 per tonne since the end of February and Brazil-to-China routes up approximately $11 per tonne.

Chinese port inventories remain close to all-time highs at around 160 million tonnes but have started to fall seasonally, while steel exports lifted month-on-month in April.

UBS holds neutral ratings on BHP, Rio Tinto, Vale and Fortescue, and estimates spot 2026 free cash flow yields of 5% for BHP, 9% for Rio Tinto and 11% for Vale.