Daily Stock Market Report (Mon 9 June 2025) - US Jobs Report, SNX, CRDL, AWE, SRT, ESP, CRPR, PDL, TLY

6:01am by Graham Neary

29 comments 3537 reads

Good morning!

Spreadsheet that accompanies this report: link.

11.15am: Roland and I have made a clean sweep of today's announcements. See you tomorrow!

US Jobs Report

The collapse of the Trump-Musk relationship has been dominating news headlines in recent days, but the actual economic data so far - in particular the US jobs report - has been far less explosive than the headlines might suggest.

On Friday, the May jobs report came in slightly better than expected, with 139,000 jobs added, vs. 130,000 forecast.

This is not very strong growth - it's lower than April, and there are of course major concerns about the potential impact of tariffs. But for now at least, it seem inarguable that the US economy continues to perform reasonably well. Overall jobs growth has occurred despite sizeable cuts at the Federal government itself, which has been cutting jobs since January.

According to CNN, it is the 53rd consecutive month that the US economy has added jobs. This is the second-longest string of employment growth ever recorded.

US Non-farm payrolls. Source: tradingeconomics.com

The US unemployment rate is unchanged at 4.2%, which I interpret as "full employment".

So despite all of the dramatic headlines we've seen in recent days - and recent months - the economic reality when it comes to the domestic US economy is, for now, remarkably tranquil. Investors who have ignored the news continue to do well!

S&P500. Source: stockopedia.com

Companies Reporting

Name (Mkt Cap)	RNS	Summary	Our view (Author)
Alphawave IP (LON:AWE) (£1.1bn)	Recommended acquisition	Alphawave has agreed a recommended cash offer of $2.4bn from Qualcomm (NSQ:QCOM). This is equivalent to $2.48 per share, or 183p. Shareholders can opt to receive Qualcomm shares instead. This offer gives a 59% premium to the six-month average price prior to bid speculation.	PINK (Roland) Today’s offer still leaves AWE shares trading c.50% below their 2021 IPO price. On a near-term view, the valuation of the bid looks strong, especially given the group’s debt position and negative free cash flow. However, on a longer-term view, my impression is that this business may have been approaching an inflection point for growth, so there’s probably still some value here for Qualcomm. In any case, this deal looks certain to go through in my view, given…

Name (Mkt Cap)

RNS

Summary

Our view (Author)

Alphawave IP (LON:AWE) (£1.1bn)

Recommended acquisition

Alphawave has agreed a recommended cash offer of $2.4bn from Qualcomm (NSQ:QCOM). This is equivalent to $2.48 per share, or 183p. Shareholders can opt to receive Qualcomm shares instead. This offer gives a 59% premium to the six-month average price prior to bid speculation.

PINK (Roland)
Today’s offer still leaves AWE shares trading c.50% below their 2021 IPO price. On a near-term view, the valuation of the bid looks strong, especially given the group’s debt position and negative free cash flow. However, on a longer-term view, my impression is that this business may have been approaching an inflection point for growth, so there’s probably still some value here for Qualcomm. In any case, this deal looks certain to go through in my view, given…

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Charles Mitchell

8:22am

Indeed John. I started in 1976, got lost a couple of years ago walking from Bank to Liverpool st station ! I did leave the City in 1990, but even so a route I walked frequently.

Tortoise investor

8:23am

No The Week Ahead post this week? I quite like it as part of my weekend reading!

John LA

8:34am

Its a lifetime ago, handwritten ledgers, magical times, very fond memories, rhyming slang common place, had a walk down memory lane a few months ago, not the same vibe

33smile

9:18am

Cordel (LON:CRDL) upgrade my stance if future trading updates are on track. Very clever Graham.

charlie51

9:19am

CRDL.... hmmm.... little wonder the CEOs options criteria were 'adjusted' so recently.

rwh3ue

9:36am

Not just handwritten ledgers. I worked in Fleet Street, our branch bank was C Hoare & Co so our salaries were paid in there. They used to handwrite bank statements and apologised to customers when they had to change to machine produced ones. Top hatted man on the door welcomed every customer into the branch. I once needed a bankers cheque to pay for a car and months later a member of staff asked me if I liked my new car.

Those were the days when service meant something.

yadi

9:59am

SLP is up 42% in one month.

Edmund Shing in an article here yesterday commented on the platinum and palladium prices waking up. The result is not due until September and at this rate the shares may double by then.

ken mitchell

10:26am

Whether or not Sylvania Platinum (LON:SLP) is going to double depends presumably on the spot Platinum price which is currently on a roll and up another 3% today. . See this excellent site for all the latest commodity prices. This link takes us to the platinum price, but all commodity prices can easily be checked there:-

https://tradingeconomics.com/c...

Also what about Valterra Platinum (LON:VALT) . I got a “free” stake from their demerger from Anglo American (LON:AAL)(which I’ve held for a good while) a week ago. I added more at £27.50 . Note that Anglo American (LON:AAL) still hold a stake which they are committed not to start selling for 90 days.

eParo

10:31am

Sky News:

Exclusive: Haerlem Capital, a Dutch private equity investor, is trying to gatecrash the emergency sale of London-listed foreign currency firm Argentex (LON:AGFX) Group to IFX Payments - a deal struck in April amid the fallout from Donald Trump's tariffs blitz.

10:33am

Oh, you're on a roll today Graham. Revolution Beauty (LON:REVB) speculative foundation for an investment.

Gray Woods

10:34am

Trust pilot seems to be taking a hammering today, down 11 percent, cannot seem to find a reason for it. Anybody seen any news that may be behind the sharp fall?

Peter T

11:07am

Trustpilot (LON:TRST) Panmure Liberum have issued a sell rating with a target price of 200p.

geoffish62

11:09am

Hi Gray W : Apparently (from another website), brokers Panmure Liberum have put out a note today with a sell recommendation, target of £2.00. Regards Geoff

Monty Carlo

11:50am

Spectris (LON:SXS)

Announcement regarding Advent considering bid.

As a long term holder I'll be furious if management recommend anything near current price levels.

12:09pm

I wrote the above when price was £25.

£37.35 in cash, plus 28p divi just been announced, recommended.

We won't have a UK stock market left soon at this rate. By the time it dawns on our political masters that they are going to have to cut stamp duty there will be no shares left to trade.

Graham Neary

12:23pm

Not all my puns are consciously crafted! but well noticed :)

spmarriott

1:02pm

Interesting that Spectris (LON:SXS) has a stock rank of 25. Clearly the buyer sees something that Stocko doesn’t.

The Boon Fund

1:38pm

AIM has been the cheapest its been for almost the last decade, in terms of the usual valuation metrics (PE, Div Yield, P/B).

Here's an interesting comparison.

Both AIM-All-Share and the FTSE-100 now yield 3.2% dividend yield. PE ratio is 13.6x compared to 12.6x, similar.

However, AIM has a 22% EPS growth compared to 11%, according to the compiled broker forecasts. Both figures on the main Stocko homepage.

Of course, we might take the broker forecasts for AIM with a pinch of salt, more so than the FTSE100... but even if the forecasts are too optimistic by 30% as a whole, which is very unlikely to be missed by so much on aggregate... AIM's valuation is way too low, even in comparison to the FTSE-100, let alone other exchanges worldwide.

Given the dearth of new blue-sky listings, and all the crap companies going bust and delisting, the maturity and therefore quality of companies on AIM is rapidly increasing.

Howard Adams

2:07pm

This news feed might interest those watching AI, AI in the UK and NVIDIA (NSQ:NVDA) . Could be helpful for a bit more tech innovation investment in the UK (won't keep my fingers crossed too long though).

LONDON, June 9 (Reuters) - Britain lacks the computing infrastructure to deliver the full potential of its leading artificial intelligence research base, Nvidia's NVDA.O CEO said on Monday, as the UK partners with the U.S. chipmaker for a new AI testing environment.

Jensen Huang's comments came as the Financial Conduct Authority announced a new framework to allow financial firms to experiment with AI tools in a controlled environment from October, part of a government strategy to support innovation and economic growth.

"The UK is the largest AI ecosystem in the world without its own infrastructure," Huang told an audience at London Tech Week alongside Prime Minister Keir Starmer, citing the country's top universities, startups and third-largest AI venture capital market.

He praised Starmer's plan to boost Britain's domestic computing capabilities by 20 times and provide 1 billion pounds ($1.36 billion) of investment.

"The ability to build these AI supercomputers here in the UK will naturally attract more startups, it will naturally enable all of the rich ecosystem of researchers here," he added, saying Britain was "an incredible place to invest".

The FCA has partnered with Nvidia to provide access to advanced computing power and bespoke AI.

The programme is intended to help firms in the early stages of exploring AI, offering access to technical expertise, better datasets and regulatory support, the FCA said. It is open to all financial services companies experimenting with AI.

Finance minister Rachel Reeves has urged Britain's regulators to remove barriers to economic growth, describing it as an "absolute top priority" for the government.

In April, she said she was pleased with how the FCA and the Prudential Regulation Authority, part of the Bank of England, were responding to her call to cut red tape.

Starmer also said in a speech opening London Tech Week that Israeli fintech firm Liquidity Group would open its European headquarters in London, representing an investment of 1.5 billion pounds.

Regards

Howard

2:09pm

This is an additional AI, AI in UK and NVIDIA (NSQ:NVDA) news feed.

LONDON, June 9 - Financial firms in Britain will be able to test artificial intelligence tools later this year in a regulatory "sandbox" launched on Monday by the country's financial watchdog, part of a broader government strategy to support innovation and economic growth.

The Financial Conduct Authority (FCA) has partnered with U.S. chipmaker Nvidia NVDA.O to provide access to advanced computing power and bespoke AI software through what it calls a "Supercharged Sandbox."

A sandbox refers to a controlled environment where companies can test new ideas such as products, services or technologies.

"This collaboration will help those that want to test AI ideas but who lack the capabilities to do so," Jessica Rusu, the FCA's chief data, information and intelligence officer, said. "We'll help firms harness AI to benefit our markets and consumers, while supporting economic growth."

Nvidia said the initiative would allow firms to explore AI-powered innovations in a secure environment, using its accelerated computing platform.

"AI is fundamentally reshaping the financial sector," said Jochen Papenbrock, EMEA head of financial technology at Nvidia, citing improvements in data analysis, automation and risk management.

He added that the sandbox will provide firms with a "secure environment to explore AI innovations using Nvidia's full-stack accelerated computing platform, supporting industry-wide growth and efficiency."

The testing is set to begin in October.

Daily Stock Market Report (Mon 9 June 2025) - US Jobs Report, SNX, CRDL, AWE, SRT, ESP, CRPR, PDL, TLY

US Jobs Report

Companies Reporting

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Graham Neary

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