A profit warning from LBG Media dominated the small-cap morning brief, with the digital media group blaming algorithmic shifts at Meta and the rise of AI-generated search summaries for a sharp drop in indirect revenues. Elsewhere, contract wins, drilling results, and clinical milestones filled out a busy pre-open slate across resources, healthcare, and infrastructure.
LBG Media cuts guidance as Meta and AI search erode traffic
LBG Media issued a downgrade to its earnings guidance after a slump in indirect revenues driven by two structural headwinds: changes to Meta's Facebook algorithm that have reduced content distribution, and the growing prevalence of AI Overviews in search results, which is suppressing click-through traffic to publisher sites. The company attributed the shortfall specifically to these platform-level shifts rather than any deterioration in its core audience engagement.
Vantiva HomeSight adds partners and launches US installation service
Vantiva's HomeSight division announced an expansion of its smart-home platform, adding new content and device partners and introducing a nationwide professional installation service across the United States. The moves are designed to scale HomeSight's TV-centric in-home care proposition, positioning the platform for broader consumer adoption as it transitions from a product offering into a managed-service model.
Imaging Biometrics publishes Phase 1 gallium trial data and reopens access programme
Imaging Biometrics (IBAI) published results from its Phase 1 gallium trial and announced the reactivation of an expanded access programme for up to 20 patients. The publication of the trial data marks a clinical milestone for the company's imaging biomarker technology, and the reopened access programme signals confidence in the safety and tolerability profile established in Phase 1.
capAI launches Movie42 and Gamers42 betas as capMedia enters commercial evaluation
capAI (CPAI) moved into a new commercial phase, launching beta versions of its Movie42 and Gamers42 products while simultaneously advancing its capMedia division into commercial evaluation. The company plans to host a webinar for registrants, with a recording to be made available afterwards, as it builds out its AI-driven media and entertainment portfolio ahead of a broader commercial rollout.
Crimson Tide's mpro5 wins trials with Sim Trava and DW Baking, to roll out across Costa Coffee
Crimson Tide (TIDE) secured trial wins for its mpro5 workflow platform with Sim Trava and DW Baking, and confirmed that the platform will be rolled out across 80 Costa Coffee stores. The contract pipeline progress demonstrates continued commercial traction for mpro5 across food service and retail operations, adding to the platform's established customer base.
New Frontier Minerals begins Flash Joule Heating testwork at Pomme REE Project
New Frontier Minerals (NFM) is commencing metallurgical characterisation and beneficiation testwork on existing drill core from the Pomme carbonatite rare earth project in Québec, including the application of Metallium Limited's Flash Joule Heating technology. The programme is designed to assess pathways to higher-grade rare earth concentrate, a critical step in determining the project's processing economics ahead of any development decision.
Rockfire reports high-grade assays at Molaoi as upgrade drilling advances
Rockfire Resources (ROCK) reported strong analytical results from drill hole HMO-016 at its wholly owned Molaoi zinc deposit in Greece, alongside high portable XRF readings from the adjacent HMO-018 hole. Diamond drilling to upgrade the resource classification at Molaoi is continuing, with the latest results reinforcing the high-grade character of the deposit as the programme progresses.
Orosur Mining intersects 229.7 metres at 0.88 g/t gold at Colombia's APTA prospect
Orosur Mining (OMI) reported a significant intersection of 229.7 metres at 0.88 grams of gold per tonne at its APTA prospect in Colombia. Chief Executive Brad George described APTA as historically "tantalising but misunderstood," noting that previous drilling had never been consolidated into a coherent geological picture, a gap the current programme is now addressing as the company builds its understanding of the deposit's scale and continuity.
Rome Resources launches New Brunswick field programme with CA$150,000 budget
Rome Resources (RMR) has started a field programme across three target areas in New Brunswick, Canada, budgeting up to CA$150,000 and planning more than 500 surface and trench samples. The work covers an option area of 109 km² situated near the Mount Pleasant deposit, one of the world's largest known tungsten and molybdenum resources, as the company advances its early-stage exploration position in the region.
Zephyr Energy clears pipeline inspection and advances regulatory process for Paradox gas export
Zephyr Energy (ZPHR) confirmed that a pipeline inspection at its Paradox Basin project has been completed, with analysis identifying four short sections totalling 25 feet requiring visual inspection to confirm integrity at uprated pressure. Operator Enbridge characterised the inspections as routine and not a material risk to achieving first gas, even in a repair scenario, clearing the way for Zephyr to advance the regulatory process required to begin exporting Paradox gas.
Andrada Mining confirms near-surface high-grade lithium at Lithium Ridge
Andrada Mining (ATM) reported the third batch of drill results from its expanded Stage 1 campaign at Lithium Ridge in Namibia, with near-surface intersections returning grades of up to 3.46% Li₂O. The completion of the expanded Stage 1 drilling programme positions the company to move towards resource definition work as it builds out the geological case for Lithium Ridge as a development-stage asset.
Jubilee Metals restarts Molefe deliveries and targets 10,000 tpm feed to Sable refinery
Jubilee Metals (JLP) confirmed the restart of ore deliveries from its Molefe pit and set a target of 10,000 tonnes per month of feed to its Sable refinery. An accelerated pre-strip programme that began in April remains on track for completion in July, which will support the full integration of the Molefe pit into Sable's feed mix and underpin the targeted throughput increase.
PureTech's Seaport advances GlyphAgo into Phase 2 on positive multiple-dose data
PureTech Health (PRTC)'s founded entity Seaport Therapeutics announced that GlyphAgo will advance into Phase 2 clinical development following positive Phase 1 multiple-dose data. PureTech Co-Founder and Chief Executive Daphne Zohar said the results "substantially derisk" the future clinical development pathway and strengthen GlyphAgo's differentiated profile, marking a meaningful de-risking event for the programme ahead of the next stage of trials.
Vaalco Energy restarts Baobab field following nine-month FPSO refurbishment
Vaalco Energy (EGY) has restarted production at its Baobab field offshore Côte d'Ivoire after completing a nine-month refurbishment of the floating production, storage and offloading vessel and reconnecting it to the field. The restart brings Baobab back into Vaalco's producing asset portfolio and is expected to contribute meaningfully to the group's near-term output profile.
Oxford Instruments secures FY27 revenue coverage after 28% order intake rise
Oxford Instruments (OXIG)'s Advanced Technologies division reported a 28% rise in order intake, providing the group with strong revenue coverage heading into its FY27 financial year. Chief Executive Richard Tyson cited a strong order book and robust balance sheet as the basis for confidence in delivering sustainable growth, with the order momentum reflecting continued demand for the group's precision instrumentation across semiconductor, quantum, and materials science end markets.
Thor Energy records up to 3% natural hydrogen at HY-Range, advances towards seismic programme
Thor Energy (THR) reported Phase 2 soil-air survey results from its 80.2%-owned HY-Range project in South Australia, with readings returning natural hydrogen concentrations of up to 3%. The results validated priority anomalies identified in earlier work and advance the licence towards 2D seismic imaging and the maturation of drilling targets, representing a significant step in the company's natural hydrogen exploration programme.
GSK to acquire Nuvalent for $10.6bn to bolster late-stage lung cancer pipeline
GSK (GSK) announced a definitive agreement to acquire Nuvalent for $10.6bn, adding two late-stage non-small cell lung cancer assets to its oncology portfolio. GSK's Chief Commercial Officer Luke Miels described the two lead products as "potential best-in-class assets" that could launch in the current year subject to FDA approval, targeting patients with two distinct forms of non-small cell lung cancer and representing a significant expansion of GSK's oncology commercial footprint.
Fever-Tree reaffirms full-year expectations and extends share buyback
Fever-Tree expressed confidence in meeting full-year market expectations and announced an extension of its share buyback programme. Early-year momentum was attributed to progress in the United States, where the group's partnership with Molson Coors has been driving improved distribution and commercial execution, reinforcing the investment case for its ongoing US expansion strategy.
Smith+Nephew completes first clinical cases with CORI XT handheld robotics platform
Smith+Nephew carried out the inaugural clinical procedures using its next-generation CORI XT handheld robotics system, covering both knee and shoulder arthroplasty. The company described the shoulder cases as the first robotic shoulder arthroplasty procedures performed with the platform, marking a commercial and clinical milestone for CORI XT as it moves from development into active surgical use.
Costain secures place on Transport for London's £700m infrastructure framework
Costain (COST) was appointed to Transport for London's infrastructure services framework, valued at approximately £700m. Chief Executive Alex Vaughan highlighted the group's long-term relationship with TfL as evidence of its track record in delivering infrastructure services across the capital, with the framework appointment providing a pipeline of work across TfL's network over the contract period.
Keller wins $207m variation on US I-40 project, lifting order book to £1.9bn
Keller Group (KLR) secured a $207m contract variation on the US Interstate 40 reconstruction project, lifting its total order book to £1.9bn. The group confirmed it remains confident of delivering full-year 2026 results in line with market expectations, with the enlarged order book providing visibility into the second half and reinforcing the group's position as a leading geotechnical contractor in North America.
