ADVFN UK Market News

Category: Market News

  • FTSE 100 today: UK shares inch higher as Trump reportedly signals Iran conflict wind-down

    FTSE 100 today: UK shares inch higher as Trump reportedly signals Iran conflict wind-down

    UK equities moved slightly higher on Tuesday after reports that U.S. President Donald Trump may be open to ending military operations against Iran even if the Strait of Hormuz remains largely closed. The pound strengthened modestly, while European markets showed mixed performance. Meanwhile, fresh data confirmed the UK economy expanded by 0.1% quarter-on-quarter in the final quarter of 2025.

    By 07:25 GMT, the benchmark FTSE 100 index was up about 0.2%, while the pound gained 0.1% against the dollar, with GBP/USD trading near 1.3202. In continental Europe, Germany’s DAX advanced 0.1%, whereas France’s CAC 40 slipped 0.2%.

    According to a report from the Wall Street Journal, Trump has told senior officials he would consider concluding military operations against Iran even if the Strait of Hormuz remains largely obstructed. The report said the administration believes attempting to fully reopen the strategic shipping route could extend the conflict well beyond the preferred four-to-six-week timeframe. Officials indicated the White House may now favour scaling back hostilities after achieving key objectives, including weakening Iran’s naval forces and reducing its missile capabilities.

    UK economic update

    Final GDP figures released Tuesday showed the UK economy grew by 0.1% quarter-on-quarter in Q4 2025, matching the preliminary estimate. The data indicated that public sector activity increased while private sector output declined during the period.

    Consumer spending rose only 0.1% quarter-on-quarter, revised down from an earlier estimate of 0.2%. Business investment fell 2.5%, slightly better than the previous estimate of a 2.7% decline. Net trade reduced GDP growth by 0.5 percentage points. After rounding adjustments, overall economic growth for 2025 was revised slightly higher to 1.4%, up from the previously reported 1.3%.

    Corporate news roundup

    Raspberry Pi Holdings PLC (LSE:RPI) reported a 25% increase in full-year adjusted EBITDA, supported by resilient demand despite higher product prices linked to rising memory costs. The Cambridge-based computing platform developer recorded adjusted EBITDA of $46.4 million for the year ended December 31, 2025, compared with $37.2 million a year earlier. Revenue climbed 25% to $323.2 million, up from $259.5 million.

    A.G.Barr PLC (LSE:BAG) delivered adjusted pretax profit of £65.8 million for the year ended January 31, representing a 12.5% increase from the previous year and slightly exceeding analysts’ expectations of £65.4 million, according to LSEG data. Revenue rose 4% to £437.3 million, while adjusted earnings per share reached 44.24 pence. The maker of Irn-Bru said growth in energy and health drinks helped offset higher costs linked to the Middle East conflict.

    Severfield PLC (LSE:SFR) said it expects pretax profit for the financial year ending March 2026 to come in around £10.2 million, broadly matching market forecasts. The structural steel specialist also reported net debt of about £28 million, significantly below the consensus estimate of £48.5 million, reflecting strong cash management.

    Future PLC (LSE:FUTR) lowered its full-year outlook by 15% to 20% as the company adjusts to a sharper-than-expected drop in traffic originating from Google. The Bath-based media group said direct advertising revenue should still grow year-on-year, while declines at Go.Compare and its B2B segment moderated during the first half and are expected to turn to growth in the second half.

    Hilton Food Group Plc (LSE:HFG) reported full-year adjusted pretax profit of £73 million for fiscal 2025, in line with previous guidance. The food packaging and supply specialist reiterated its FY26 adjusted PBT forecast of £60–65 million and announced a strategic review aimed at strengthening its core red meat operations while improving efficiency and margins.

    3i Infrastructure PLC (LSE:3IN) also released a portfolio update covering the period from October 1, 2025, to March 30, 2026, stating it remains on track to meet its full-year return objective. The company expects portfolio returns of 8–10%, with strong performance from FLAG supported by continued demand for subsea data connectivity driven by AI workloads.

  • AstraZeneca reports mixed Phase III outcomes for HPP therapy efzimfotase alfa

    AstraZeneca reports mixed Phase III outcomes for HPP therapy efzimfotase alfa

    AstraZeneca (LSE:AZN) released results from three Phase III clinical studies evaluating efzimfotase alfa, an experimental treatment for hypophosphatasia (HPP), a rare inherited disorder that affects bone development.

    The MULBERRY study, which involved treatment-naive children aged 2 to 12, achieved its primary objective. Patients receiving efzimfotase alfa showed a statistically significant improvement in bone health versus placebo at week 25, measured using the Radiographic Global Impression of Change score.

    Results from the CHESTNUT trial showed that pediatric patients who transitioned from the current therapy Strensiq to efzimfotase alfa were able to maintain treatment benefits. The study also indicated that the new therapy demonstrated acceptable safety and tolerability.

    However, the HICKORY trial, which evaluated adolescents and adults aged 12 and above, did not meet its primary endpoint. The study failed to show a statistically significant improvement in the Six-Minute Walk Test compared with placebo. AstraZeneca said this was largely due to stronger-than-anticipated outcomes in the placebo group among adults with late-onset HPP. Despite this, the treatment delivered nominally significant improvements in fatigue across the overall study population and showed positive effects on mobility and physical functioning in predefined subgroups of patients with pediatric-onset disease.

    In total, the clinical programme enrolled 196 participants across 22 countries, marking the first trials designed to include both pediatric-onset and adult-onset HPP patients.

    Efzimfotase alfa is being developed as an enzyme replacement therapy intended to reduce treatment burden by requiring smaller injection volumes and less frequent dosing than the currently available therapy Strensiq.

    AstraZeneca said the findings will be presented at an upcoming medical conference and will also be submitted to regulators worldwide. The therapy was developed by Alexion, AstraZeneca’s rare disease division.

  • Ashmore Group forms strategic partnership with Japan Post Insurance

    Ashmore Group forms strategic partnership with Japan Post Insurance

    Ashmore Group PLC (LSE:ASHM) announced on Tuesday that it has entered into a strategic partnership with Japan Post Insurance, which includes a $1 billion investment commitment to its emerging markets funds along with the purchase of an equity stake in the company.

    As part of the agreement, Japan Post Insurance plans to allocate $1 billion across a selection of Ashmore’s emerging markets investment strategies. The capital will be deployed gradually over roughly 12 months rather than being invested all at once.

    In addition to the fund investment, Japan Post Insurance intends to build a 2.9% shareholding in Ashmore Group through purchases in the open market. The company did not provide a timeline for when those share acquisitions will take place.

  • 3i Infrastructure says portfolio remains on course to meet annual return target

    3i Infrastructure says portfolio remains on course to meet annual return target

    3i Infrastructure PLC (LSE:3IN) published a performance update on Tuesday covering the period from October 1, 2025, to March 30, 2026, stating that the company remains on track to achieve its full-year return objective.

    The portfolio is expected to generate returns of between 8% and 10%. FLAG delivered a strong performance during the period, supported by sustained demand for subsea connectivity driven by expanding AI-related data traffic. Infinis also exceeded EBITDA expectations set in September 2025, while Future Biogas performed solidly and could benefit further if gas prices continue to rise.

    Joulz completed two bolt-on acquisitions that increased EBITDA by roughly 70%, marking an important milestone in the company’s strategy to expand into additional EU markets. Tampnet traded in line with expectations and continues to secure new fibre connectivity contracts across new geographic regions.

    Not all assets performed as strongly. SRL delivered results below expectations and is currently undergoing a management transition following the appointment of a new CEO and CFO, alongside a review of the cost structure. Ionisos also came in slightly below forecast due to delays affecting two growth projects, while ESVAGT’s performance was impacted by a postponed delivery of a new service operation vessel (SOV).

    On the financing side, 3i Infrastructure expanded its revolving credit facility by activating a £300 million accordion option to bridge proceeds from the sale of TCR. At the same time, the base £900 million facility has been extended by one year to June 2029. Total drawings under the £1.2 billion facility currently amount to £544 million.

    After receiving proceeds from the TCR disposal and completing its investment in the Lefdal Mine Datacenter, the company’s pro-forma net cash position stands at approximately £201 million.

    The company also confirmed its dividend target for FY26 at 13.45 pence per share, stating that the payout is expected to be fully covered despite the write-down related to DNS:NET.

  • Future lowers outlook as reduced Google traffic pressures margins

    Future lowers outlook as reduced Google traffic pressures margins

    Future Plc (LSE:FUTR) released a weaker-than-expected trading update for the first half of 2026 on Tuesday, reducing its full-year forecast by between 15% and 20% as it grapples with a sharper-than-anticipated drop in audience traffic originating from Google.

    The Bath-based media group said direct advertising revenue is still expected to grow compared with last year. It also noted that declines in revenue at Go.Compare and within its B2B segment eased during the first half, with both divisions expected to return to growth in the latter part of the year.

    However, the shift away from Google-driven traffic has weighed heavily on some of the company’s most profitable revenue streams, particularly programmatic advertising and e-commerce activity.

    Future now expects first-half EBITDA margins to come in between 24% and 25%, compared with margins of around 30% in fiscal 2025.

    Looking at the full year, the company said it now anticipates organic revenue in the second half to fall by a low-single-digit percentage compared with the same period last year. This marks a reversal from earlier guidance that had projected modest organic revenue growth concentrated in the second half.

    The company also revised its EBITDA margin expectations for fiscal 2026, now forecasting a range of 25% to 27%, down from its previous outlook that margins would remain broadly stable at around 30%.

  • AG Barr tops profit expectations and forecasts stronger revenue growth

    AG Barr tops profit expectations and forecasts stronger revenue growth

    AG Barr (LSE:BAG) reported annual profits ahead of market expectations on Tuesday and signalled stronger revenue growth in the year ahead, supported by expansion in the energy and health drinks segments that helped absorb slightly higher costs linked to the Middle East conflict.

    The Scottish beverage producer, known for Irn-Bru, posted adjusted pretax profit of £65.8 million for the financial year ended January 31. That represents a 12.5% increase from the previous year and slightly exceeds the £65.4 million consensus forecast compiled by LSEG.

    Group revenue increased 4% to £437.3 million, while adjusted earnings per share reached 44.24 pence.

    AG Barr also reported an adjusted return on capital employed of 20.4% and an adjusted operating margin of 14.8%.

    “This was a year of significant strategic progress in which we also delivered on our targeted financial metrics,” CEO Euan Sutherland said. “We have strengthened the foundations of the business and stepped up our investment in brand development, commercial capability and our operations to ensure we can consistently sustain high levels of performance.”

    The results highlight the company’s ongoing shift toward faster-growing beverage categories. Over the past year, AG Barr sold its Strathmore water brand and redirected the proceeds toward energy and wellness products. As part of that strategy, the company acquired Frobishers Juices, adding a fruit juice label to a portfolio that already includes Boost energy drinks and the Rubicon juice brand.

    Looking ahead, Sutherland said AG Barr expects revenue to grow by a low double-digit percentage in the 2026/2027 financial year, marking a clear acceleration from the 4% increase recorded in the most recent year.

    The company added that it aims to “consistently deliver” annual revenue growth of at least 4%, maintain operating margins between 14% and 16%, and achieve a return on capital employed in the range of 19% to 21% over the long term.

    Regarding the broader economic backdrop, AG Barr said the ongoing Middle East conflict has had only a limited direct impact on its operations, mainly through higher energy costs. The company noted that it has no direct revenue exposure to the region.

  • Pantheon Infrastructure reports strong 2025 returns as portfolio realisations reduce NAV discount

    Pantheon Infrastructure reports strong 2025 returns as portfolio realisations reduce NAV discount

    Pantheon Infrastructure PLC (LSE:PINT) delivered solid results for the 2025 financial year, with net asset value rising to £611m, equivalent to 130.4p per share. The company generated a NAV total return of 14.4%, supported by underlying portfolio growth of 15.5% on invested capital.

    The investment trust also increased its total dividend to 4.346p per share and improved cash dividend cover to 1.1x. Strong share price performance helped narrow the discount to NAV, with market capitalisation rising to £508m following a 26.8% total shareholder return during the year.

    During the period, the company continued executing its strategy of capital recycling and value realisation. It agreed a conditional sale of its stake in U.S. power producer Calpine, marking the trust’s first realisation since its initial public offering. Pantheon Infrastructure also completed a new investment and partial realisation in Intersect Power, committing £30m to the renewable energy platform.

    The trust now has £620m invested or committed across a diversified portfolio of infrastructure assets. In addition, it retains approximately £120m of available liquidity, supported by an extended revolving credit facility running through to 2029. Management believes this financial flexibility positions the company to benefit from structural demand across digital and energy infrastructure sectors while maintaining a progressive dividend policy and a defensive profile amid macroeconomic volatility.

    Despite the strong reported profits and portfolio performance, the company’s outlook is somewhat constrained by persistently negative operating and free cash flow. However, technical indicators remain supportive, with the share price showing an upward trend across key moving averages. Valuation also appears attractive, with a relatively low price-to-earnings ratio and a dividend yield of around 3.9%, further supported by the recent uplift in NAV.

    More about Pantheon Infrastructure PLC

    Pantheon Infrastructure PLC is a London-listed closed-ended investment trust providing investors with access to a global portfolio of infrastructure assets through direct co-investments. Its portfolio spans sectors such as digital infrastructure, power and utilities, renewable energy, energy efficiency, and transport and logistics. The trust focuses on assets with long-term contracted cash flows, inflation-linked revenues and conservative leverage. It is managed by Pantheon, a private markets specialist known for its diversified and defensive investment approach in infrastructure.

  • Lloyds reviews FCA’s final rules for motor finance redress scheme

    Lloyds reviews FCA’s final rules for motor finance redress scheme

    Lloyds Banking Group (LSE:LLOY) said it is assessing the Financial Conduct Authority’s newly published final rules for an industry-wide redress scheme related to motor finance. The bank noted that the final framework differs from the proposals initially outlined by the regulator in October 2025.

    The group said it will need time to analyse the updated rules before determining the potential implications for its business. The review will focus on how the new framework may affect Lloyds’ motor finance operations, possible customer compensation requirements and the broader financial impact on the group.

    Lloyds added that it will provide a further update to the market once its assessment is complete. Until then, investors and customers remain uncertain about the scale of any operational or balance sheet effects that could arise from the redress scheme.

    From an investment perspective, Lloyds’ outlook remains supported by a strong earnings trajectory and capital return strategy outlined in its most recent results. However, underlying financial quality indicators have weakened somewhat, including higher leverage and negative free cash flow over the past two years.

    Technical indicators suggest the share price trend remains positive, although overbought signals may point to some short-term risk. Valuation metrics and dividend yield continue to offer support for the investment case, even if they are not particularly standout relative to peers.

    More about Lloyds Banking

    Lloyds Banking Group is one of the UK’s largest retail and commercial banking groups, providing services across personal banking, business lending, motor finance, insurance and wealth management. The group operates primarily within the UK and serves customers through well-known brands including Lloyds Bank, Halifax and Bank of Scotland. Its operations include significant exposure to regulated consumer finance markets, particularly in areas such as motor finance and personal lending.

  • Unilever in advanced discussions to combine much of Foods division with McCormick

    Unilever in advanced discussions to combine much of Foods division with McCormick

    Unilever PLC (LSE:ULVR) said it is in advanced discussions with U.S. spices and seasonings group McCormick & Company regarding a potential strategic transaction involving most of its Foods business. The talks follow earlier market speculation and form part of Unilever’s broader effort to reshape its global consumer goods portfolio.

    The proposed structure under consideration would combine Unilever Foods—excluding certain assets such as its Indian operations—with McCormick through a Reverse Morris Trust arrangement. Based on the terms currently being discussed, Unilever could receive approximately $15.7 billion in upfront cash along with a majority equity stake in the combined entity.

    If completed, Unilever and its shareholders would retain around 65% ownership of the merged business. Such a transaction would significantly alter the company’s exposure to the global foods sector and reshape its ownership structure within that segment.

    From an investment perspective, Unilever’s outlook is supported by stable profitability and strong free cash flow generation, although leverage remains relatively elevated. Technical indicators appear favourable, with the share price trading above key moving averages and a positive MACD signal, though momentum indicators such as RSI and stochastic levels suggest the stock may be approaching overbought territory. Valuation remains somewhat demanding at roughly 22.7 times earnings, but the dividend yield of around 3.44% alongside continued share buybacks and steady cash generation provides support for the investment case.

    More about Unilever

    Unilever PLC is a global consumer goods company operating across food, home care and personal care categories. Its portfolio includes a wide range of well-known brands sold worldwide, with significant exposure to emerging markets including India. The company continues to actively manage its portfolio through acquisitions, divestments and strategic partnerships aimed at strengthening growth and improving returns.

  • Anpario increases profits and dividend amid strong demand for premium feed additives

    Anpario increases profits and dividend amid strong demand for premium feed additives

    Anpario (LSE:ANP) delivered a strong performance in 2025, reporting revenue growth of 24% to £47.2m while profit before tax rose 54% to £8.0m. The results were supported by improved gross margins and solid cash generation across the business.

    Growth during the year was driven in part by the first full-year contribution from U.S.-based Bio-Vet, alongside 12% like-for-like sales growth across Anpario’s existing operations. The company also benefited from strong demand for its higher-margin natural feed additives across key markets in the Americas, Europe and Asia.

    The improved financial performance allowed the group to increase its total dividend by 11%, reflecting confidence in the strength of its cash flow and long-term growth strategy. Management highlighted that the results reinforce Anpario’s shift toward premium, sustainable animal nutrition products, even as the business navigates ongoing geopolitical and logistical challenges affecting global supply chains.

    From an investment perspective, Anpario’s outlook is supported by strong financial performance and positive corporate developments. Technical indicators also suggest a favourable trend, while the company’s valuation appears reasonable relative to its growth profile. The absence of additional earnings call details does not materially affect the overall positive outlook.

    More about Anpario

    Anpario plc is an independent producer of natural and sustainable feed additives designed to improve animal health, nutrition and biosecurity in global agricultural markets. The company’s product portfolio includes higher value-added solutions such as Orego-Stim and Optomega Algae, which target improved animal performance and welfare. Anpario has also expanded its presence in the United States and broadened its species coverage through the acquisition of Bio-Vet Inc.