Source: Sharecast
STOCKS TO WATCH
Harbour Energy has been appointed operator of the Zama oil project offshore Mexico after an agreement between the project’s partners. Harbour said on Wednesday that the Zama oil field, discovered in 2017 and successfully appraised in 2018 and 2019, was estimated to contain approximately 750m barrels of oil equivalent of gross recoverable resources. The FTSE 250-listed firm added that the next step will be to complete engineering and design work in 2026 ahead of a final investment decision.
Modular housing group Eco Buildings said on Tuesday that its strategic joint venture in Senegal with G2 Invest was now expected to receive an initial €1.75m deposit in mid‑February 2026, marking a key milestone in progressing the partnership. Eco Buildings also said it was continuing to secure additional residential construction projects in Senegal, with the scale of confirmed commitments set to determine the final configuration and number of production lines deployed under the venture.
NEWSPAPER ROUND-UP
First-time buyers are expected to drive the UK housing market in 2026, with further interest rate cuts likely to improve stretched affordability. The for-sale market should accelerate moderately, with prices rising by 2% to 4%, while rent rises are likely to slow from the rapid increases of recent years, according to lenders and estate agents. With mortgage rates falling, earnings growth running ahead of inflation, and house prices rising slowly, monthly mortgage costs for first-time buyers as a share of income are at their lowest level since 2022, according to Halifax. – Guardian
The future of upmarket fashion chain LK Bennett has been thrown into doubt after it filed an intention to appoint administrators for the second time in six years. The retailer, a favourite brand of the Princess of Wales, submitted the notice at the High Court on Tuesday, according to court records. Such a move suggests the company is likely to collapse into administration if the application is granted by the court. – Telegraph
Middle class Americans are being swamped by credit card debt as the US cost of living crisis spirals, a leading charity has warned. The share of people struggling with debt who have a four-year university degree or a masters has surged from 34% in 2021 to 43% this year, according to American Consumer Credit Counseling, which offers debt advice. Kenneth Mohammed, from the ACCC, said credit card debt was becoming a problem not just for the poorest households but for wealthier, educated Americans too. – Telegraph
A Cornish clothing brand is pressing ahead with plans to open about ten new shops a year, defying a retail sector hit by weak consumer confidence and squeezed incomes. Seasalt, which sells raincoats, knitwear and jersey dresses, is in the final stages of securing three new stores across the UK for early next year, with further openings planned in the second half. – The Times
Pay for newly qualified lawyers at the City's elite law firms has doubled over the last decade to average salaries of about £140,000, a report has revealed. Leading English practices still trail their US rivals, however, with average pay for graduate lawyers at the London offices of American firms also having doubled to more than £160,000. – The Times
US CLOSE
Wall Street stocks fell for the third straight session on Tuesday, with the Dow and S&P 500 continuing to pull back from record highs, as rate-cut hopes diminished further following minutes from the Federal Reserve's December policy meeting.
At the close, the Dow Jones Industrial Average was down 0.20% at 48,367.06, while the S&P 500 shed 0.14% to 6,896.24, and the Nasdaq Composite saw out the session 0.24% weaker at 23,419.08.
Reporting by Iain Gilbert at Sharecast.com