Category: Market News

Naked Wines PLC (LSE:WINE) said it now expects adjusted EBITDA for the 2026 financial year to come in at the top end of its previously issued guidance, following a strong peak trading period across all of its markets.

The online wine retailer said performance has been supported by robust seasonal trading and tighter cost control, with disciplined management of general and administrative expenses, cost of goods sold, and customer acquisition investment. These measures have helped offset the impact of a more selective growth strategy.

The company acknowledged that its decision to scale back less efficient investment is likely to result in revenue landing toward the lower end of guidance. Management reiterated that this approach is consistent with its longer-term aim of building “a smaller but materially more profitable business” that can return to sustainable, profitable growth.

Looking ahead, Naked Wines said it expects adjusted EBITDA to increase progressively over the medium term. A more detailed trading update covering peak performance is scheduled to be released in mid-January 2026. The company also confirmed that adjusted EBITDA excludes the impact of inventory liquidation and related costs.

BP Plc (LSE:BP.) has confirmed the appointment of Meg O’Neill as its new chief executive, with her tenure set to begin on 1 April 2026. The announcement follows the decision by current CEO Murray Auchincloss to step down, with Carol Howle appointed as interim chief executive during the transition period.

The energy group said Auchincloss will resign from both his executive role and the board on 18 December. Howle, who currently serves as executive vice president for supply, trade and transportation, will lead the company on an interim basis until O’Neill formally takes up the position. Auchincloss will continue to support BP in an advisory capacity through to December 2026 to ensure a smooth handover.

O’Neill has been chief executive of Woodside Energy since 2021, a period during which BP noted that the company became the largest energy business listed on the Australian Securities Exchange. During her tenure, she also led the acquisition of BHP Petroleum International, creating a more geographically diversified oil and gas portfolio.

Prior to joining Woodside in 2018, O’Neill spent 23 years at ExxonMobil, where she held a range of technical, operational, and senior management roles across multiple countries, according to BP.

Commenting on the appointment, BP chairman Albert Manifold said the board viewed the change as a strategic opportunity. “After a comprehensive succession planning process, the board believes this transition creates an opportunity to accelerate our strategic vision to become a simpler, leaner, and more profitable company,” Manifold said in a statement.

O’Neill said BP “plays a crucial role in providing energy to customers around the world” and added that she was “honored to serve as the company’s next CEO”.

Auchincloss, who has spent more than 30 years with BP, said his departure followed discussions with the chairman. “After more than three decades at BP, the time has come to hand over the reins to a new leader,” he said.

Interim chief executive Carol Howle has been with BP for 25 years and has held her current executive vice president role since July 2020. Her previous responsibilities included leading BP Shipping and overseeing integrated oil supply and trading operations. Outside the company, she also serves as a non-executive member of the Royal Navy Board of Trustees and chairs the Navy’s Audit and Risk Assurance Committee.

UK equities traded largely flat on Thursday morning as investors awaited the Bank of England’s latest interest rate decision, while sterling edged lower and major European markets moved higher. By 08:18 GMT, the FTSE100 was down marginally by 0.01%, and the pound slipped 0.07% against the US dollar, remaining just above the 1.33 level.

Across Europe, sentiment was more positive, with Germany’s DAX rising 0.1% and France’s CAC40 gaining 0.2% in early trading.

Markets are widely expecting the Bank of England to cut interest rates by 25 basis points to 3.75%. Economists anticipate a close vote, potentially split 5–4, with Governor Andrew Bailey expected to support easing. However, stronger-than-expected UK inflation data for November, particularly a sharp fall in food prices, has increased speculation that the vote could swing to a 6–3 split.

In company news, BP PLC (LSE:BP.) announced that Meg O’Neill will take over as chief executive from 1 April 2026. Current CEO Murray Auchincloss will step down from both his executive role and the board on Thursday, with Carol Howle appointed as interim chief executive during the transition period.

Elsewhere, Currys PLC (LSE:CURY) reported a strong set of first-half results. The electronics retailer said adjusted profit before tax jumped 144% to £22 million for the 26 weeks to 1 November. Group revenue increased 8% year on year to £4.23 billion, compared with £3.92 billion previously. On a currency-neutral basis, revenue rose 6%, while like-for-like sales across the group grew 4%.

Adjusted earnings before interest and tax increased 32% to £54 million, with reported EBIT rising to £43 million from £29 million. The improvement was driven by higher sales volumes and particularly strong performance in the Nordic region.

Currys plc (LSE:CURY) has reported a robust first-half performance, with adjusted profit before tax rising to £22 million, representing a 144% increase year on year. Free cash flow also strengthened significantly, increasing 68% to £84 million, reflecting improved operational efficiency and disciplined cost management.

Revenue growth was recorded across both the UK & Ireland and Nordic regions. In the UK & Ireland, performance was supported by growth in services, increased B2B sales, and the expansion of new product categories, while Nordic operations delivered strong execution and maintained market leadership. Despite ongoing cost pressures, Currys outperformed the wider UK market and continued to demonstrate resilience in a challenging retail environment.

The group remains focused on sustainable growth, cash generation, and returning value to shareholders. This approach is reflected in its £50 million share buyback programme and the declaration of dividends. Full-year guidance has been left unchanged, underlining management’s confidence in the company’s financial and operational trajectory.

More about Currys plc

Currys plc is a leading retailer of consumer electronics and technology products, offering solutions across computing, mobile, domestic appliances, and associated services. The company operates across the UK, Ireland, and the Nordic region, serving both consumer and business-to-business customers through an extensive store network and digital channels.

Blackbird PLC (LSE:BIRD) has completed a £500,000 fundraising through the issue of 22,222,222 new ordinary shares, strengthening its balance sheet and providing additional resources to accelerate development and marketing of its elevate.io platform.

The proceeds will be used to support elevate.io during its product–market fit phase, with a particular focus on expanding marketing activity to drive customer acquisition and establish recurring revenue streams. Management also plans to use the capital to scale operations in response to growing demand within the rapidly expanding Creator Economy.

Despite the successful raise, Blackbird continues to face challenges around profitability and cash generation. While the company maintains a solid equity position and recent strategic progress offers potential upside, valuation concerns persist due to ongoing losses. Technical indicators suggest a relatively stable share price backdrop as the business works to convert product momentum into sustainable financial performance.

More about Blackbird PLC

Blackbird PLC is a technology company operating across the SaaS, media, and entertainment sectors. It develops patented cloud-based video editing and viewing solutions, including the BlackbirdⓇ platform for professional broadcasters and media organisations, and elevate.io, a browser-based collaborative content creation tool aimed at professional teams and the growing Creator Economy.

Shield Therapeutics (LSE:STX) has applied to the London Stock Exchange for a block listing covering 15,000,000 ordinary shares, which are intended for use under the company’s Retention and Performance Share Plan. The shares are expected to be admitted to trading on 23 December 2025.

The move is designed to support the company’s incentive framework as it continues to commercialise its iron deficiency treatment ACCRUFeR®. Management said the block listing will provide additional flexibility in rewarding and retaining key personnel as the business seeks to build on its position within the global iron deficiency market, estimated to be worth around $2.3 billion.

From a market standpoint, Shield Therapeutics is benefiting from supportive technical momentum and recent corporate developments. However, these positives are tempered by ongoing financial pressures and valuation concerns, with funding stability remaining a key consideration for investors.

More about Shield Therapeutics

Shield Therapeutics plc is a commercial-stage pharmaceutical company focused on the development and global commercialisation of ACCRUFeR®/FeRACCRU® (ferric maltol), an oral treatment for iron deficiency with or without anaemia. The company operates through partnerships and licensing arrangements, with products marketed across the US, UK, Europe, Canada, China, South Korea, Japan, and other international markets.

ITM Power (LSE:ITM) has secured a 12.5MW contract with Octopus Energy Generation to supply its NEPTUNE V green hydrogen systems for use at Kimberly-Clark’s Northfleet manufacturing facility in the UK. The project will support efforts to decarbonise paper production by integrating green hydrogen into an innovative dual-fuel boiler system.

Under the agreement, hydrogen produced on site will contribute to Kimberly-Clark’s objective of sourcing 100% renewable energy for its operations. The installation highlights the growing role of green hydrogen in reducing emissions across energy-intensive industrial processes, with the facility expected to become operational by the end of 2027.

From a market perspective, ITM Power continues to face financial challenges, including ongoing losses and cash flow pressures. While management commentary points to a strong order backlog and revenue growth potential, technical indicators and valuation measures suggest a cautious near-term outlook. Operational efficiency and execution remain key areas of focus as the company seeks to convert contract wins into sustainable profitability.

More about ITM Power

ITM Power plc is a UK-based manufacturer of green hydrogen technology, specialising in proton exchange membrane (PEM) electrolysers. Founded in 2000 and headquartered in Sheffield, the company develops systems that use renewable electricity and water to produce hydrogen, supporting net zero ambitions across industrial and energy markets.

FRP Advisory Group PLC (LSE:FRP) has reported strong half-year results for the period ended October 2025, posting a 12% increase in revenue alongside improved profitability. The performance reflects contributions from recent strategic acquisitions as well as continued expansion of the group’s service offering.

During the period, the company continued to invest in growth through selective acquisitions, geographic expansion, and ongoing recruitment to strengthen its advisory capabilities. Management said these initiatives are enhancing the breadth and depth of services available to clients and supporting the group’s ability to compete effectively across a range of market conditions.

Looking ahead, FRP remains confident in delivering against full-year expectations despite ongoing macroeconomic uncertainty. The company’s outlook is underpinned by solid financial performance and a series of positive corporate developments, with technical indicators pointing to a constructive trend and valuation viewed as balanced relative to growth and income potential.

More about FRP Advisory Group Plc

FRP Advisory Group PLC is a national specialist business advisory firm providing services across restructuring, corporate finance, debt advisory, financial advisory, and forensic investigations. Founded in 2010, the group works with companies, lenders, investors, and individuals to help navigate complex financial and operational challenges across multiple sectors.

Card Factory (LSE:CARD) has issued an update following its 2025 Annual General Meeting, during which a notable level of shareholder opposition was recorded on three resolutions relating to equity share allotments and pre-emption authorities.

In the wake of the AGM, the company engaged with its largest shareholders to better understand their concerns, which were largely focused on the potential dilutive impact of employee share award schemes. Management said these discussions have helped inform its response, including the launch of a share buyback programme aimed at offsetting dilution and reinforcing shareholder returns.

The company also reiterated its commitment to maintaining a balanced approach to capital allocation, supporting investment in its core retail operations and longer-term growth initiatives while prioritising sustainable value creation. From a market perspective, Card Factory continues to benefit from solid financial performance, an attractive valuation, and supportive share repurchase activity, with technical indicators pointing to a broadly stable outlook.

More about Card Factory

Card Factory is a leading UK retailer specialising in greeting cards, gifts, and celebration-related products. The group serves a broad consumer base within the celebrations market through an extensive store network and a growing digital presence.

GSTechnologies Limited (LSE:GST) has released unaudited interim results for the six months ended 30 September 2025, outlining progress across its digital operations alongside ongoing strategic initiatives.

During the period, the company reported improved revenue contributions from its digital asset activities and continued investment in its GS Money solutions. Expansion efforts remained a priority, with management pursuing growth through acquisitions and regulatory licensing applications to extend the group’s geographical footprint. The formal adoption of a Bitcoin treasury policy was highlighted as a strategic milestone, reflecting confidence in the long-term role of cryptocurrency within the company’s financial framework. Integration of the Bake platform also enhanced the breadth of its digital offerings.

Looking ahead, GSTechnologies expects further development across its digital asset and foreign exchange businesses, while continuing to address operational challenges within its cybersecurity subsidiary. Despite these initiatives, the company’s overall outlook remains constrained by weak financial performance, including declining revenues and substantial losses. Bearish technical indicators and valuation concerns continue to weigh on sentiment, with strategic progress yet to translate into sustained financial improvement.

More about GSTechnologies

GSTechnologies Limited is a fintech group focused on foreign exchange, digital payments, and digital assets. Through its subsidiaries, the company provides e-wallet services, cryptocurrency trading platforms, and cybersecurity solutions, with an emphasis on international expansion and regulatory compliance across markets in Europe, South America, and Asia.