ADVFN UK Market News

Category: Top Story

  • Tate & Lyle CEO Nick Hampton expected to step down after eight years

    Tate & Lyle CEO Nick Hampton expected to step down after eight years

    Nick Hampton, chief executive of Tate & Lyle (LSE:TATE), is preparing to leave his role after eight years leading the company, according to a report by Sky News on Tuesday citing industry sources.

    The report said the food ingredients group has been working with executive search firms for several months to identify a successor, with Hampton potentially stepping down as early as this year.

    Hampton joined Tate & Lyle in 2014 as chief financial officer before being promoted to chief executive in April 2018.

    Since he took over as CEO, Tate & Lyle shares have declined by roughly 34%, including a 42.3% drop in 2025 alone.

    Earlier this year, in February, the company warned that both revenue and core profit are expected to fall by a low single-digit percentage for the financial year ending March 31.

    Tate & Lyle supplies ingredients for Splenda, the widely used non-sugar sweetener found in products such as Diet Coke and other sugar-free beverages.

  • European stocks advance on hopes of a potential end to U.S. operations in Iran: DAX, CAC, FTSE100

    European stocks advance on hopes of a potential end to U.S. operations in Iran: DAX, CAC, FTSE100

    European equity markets moved higher on Tuesday following reports that the Trump administration may be prepared to conclude U.S. military operations against Iran even if the Strait of Hormuz remains largely shut.

    The British pound traded little changed after new data confirmed that the U.K. economy recorded only minimal growth in the fourth quarter.

    According to final figures from the Office for National Statistics, gross domestic product expanded by 0.1% quarter-on-quarter, matching the initial estimate. The result followed the same 0.1% growth recorded in the third quarter.

    In Germany, separate data showed that retail sales declined in February, largely due to weaker food purchases, while the country’s unemployment total remained unchanged in March.

    Market indices across the region posted gains. France’s CAC 40 climbed 0.6%, while both the FTSE 100 in the U.K. and Germany’s DAX rose 0.9%.

    Shares of Ashmore Group (LSE:ASHM) rallied after Japan Post Insurance said it plans to acquire up to a 2.9% stake in the British asset manager and commit $1 billion to emerging market funds managed by Ashmore.

    Pharmaceutical company Sanofi (EU:SAN) also surged after receiving conditional marketing authorization from the European Commission for Rezurock.

    Rail manufacturer Alstom (EU:ALO) jumped after securing an $800 million portion of a $2.75 billion multinational systems contract covering the AMECA region.

    In London, Domino’s Pizza Group (LSE:DOM) shares advanced after the company confirmed that interim chief executive Nicola Frampton will take the role permanently.

    Unilever (LSE:ULVR) also traded higher after the consumer goods giant said it was in advanced discussions to combine its food business with spice producer McCormick.

    Meanwhile in Paris, shares of Casino Group (EU:CO) dropped sharply after the retailer outlined key elements of new proposals aimed at restructuring and strengthening its financial position.

  • European stocks trade cautiously as Iran war continues and inflation data approaches: DAX, CAC, FTSE100

    European stocks trade cautiously as Iran war continues and inflation data approaches: DAX, CAC, FTSE100

    European equity markets moved in a narrow range on Tuesday, hovering close to flat even as oil prices continued their sharp surge. Sentiment was somewhat supported by reports that U.S. President Donald Trump may be prepared to wind down the conflict with Iran even if the Strait of Hormuz remains largely closed.

    By 07:10 GMT, the pan-European Stoxx 600 index was up about 0.1%. Germany’s DAX had gained 0.2%, the UK’s FTSE 100 edged 0.1% higher, and France’s CAC 40 was broadly unchanged.

    According to a report from the Wall Street Journal, Trump has signaled openness to bringing the more than month-long military campaign against Iran to a close even if Tehran maintains effective control over the Strait of Hormuz. The strategic waterway carries roughly one-fifth of global oil shipments, and its disruption for several weeks has triggered a sharp rise in energy prices while increasing recession concerns worldwide.

    Brent crude futures, the global benchmark for oil, were trading above $110 per barrel, compared with roughly $70 before the conflict began.

    The report said Trump and his advisers concluded that a full effort to reopen the strait would extend the military campaign beyond the four-to-six-week timeframe initially envisioned. Instead, the administration has reportedly opted to target Iran’s naval forces and missile capabilities while seeking to gradually reduce hostilities and intensify diplomatic pressure on Tehran. U.S. officials added that Washington could also rely on European and Gulf allies to address the strait if negotiations fail.

    Markets may receive additional signals about the economic consequences of the Middle East conflict later in the day with the release of Eurozone inflation figures for March. The regional conflict, which has expanded beyond a joint U.S.–Israeli offensive against Iran to involve several countries across the Middle East, has raised concerns about energy supply disruptions.

    Europe depends heavily on natural gas imports from Gulf countries, particularly Qatar, where energy infrastructure has reportedly been targeted in Iranian air strikes.

    Officials at the European Central Bank (ECB) have indicated that interest rate increases may become necessary if the surge in energy prices reignites inflation across the Eurozone. ECB President Christine Lagarde has suggested policymakers may still need to respond even if the rise in prices proves temporary.

    Economists currently forecast that headline consumer inflation in the Eurozone will increase to 2.6% in March, up from 1.9% in February. The ECB’s medium-term inflation objective remains 2.0%.

    Anticipation of potential ECB tightening has pushed European government bond yields higher in recent sessions, although yields were largely steady ahead of Tuesday’s inflation release. Bond yields typically move in the opposite direction of bond prices.

  • 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.

  • 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.

  • Vast Resources pushes back Gulf acquisition deadline as diamond sales and financing shift

    Vast Resources pushes back Gulf acquisition deadline as diamond sales and financing shift

    Vast Resources (LSE:VAST) has extended the long-stop date for completing its proposed acquisition of Gulf International Minerals to 5 May 2026. The company said due diligence on the transaction is largely complete, with the publication of an admission document expected in April, subject to regulatory approvals in Tajikistan and the completion of a related equity placing.

    The acquisition is intended to strengthen Vast’s exposure to the Aprelevka gold operations, which the company views as a central growth opportunity within its Central Asian portfolio.

    Separately, Vast reported delays to planned diamond sales as geopolitical tensions in the Middle East have disrupted its original sales channels. The company is now redirecting those sales through alternative routes in Antwerp, which is expected to affect the timing of near-term cash inflows.

    To manage liquidity during this period, Vast is negotiating extensions on its existing loan facilities until 30 April 2026. The company plans to use proceeds from the upcoming diamond sales, funds raised through the placing linked to the acquisition, and potential offtake agreements or additional financing to repay creditors. However, both the financing arrangements and completion of the Gulf acquisition remain subject to uncertainty.

    Vast Resources continues to face significant financial and operational pressures, including declining revenues and ongoing losses. Technical indicators for the stock remain negative, suggesting a bearish trend, while valuation metrics provide limited support. Together, these factors contribute to a weak near-term outlook for the company.

    More about Vast Resources

    Vast Resources plc is an AIM-listed mining company with operations and development projects in Romania, Tajikistan and Zimbabwe. In Romania, the company owns the Baita Plai and Manaila polymetallic mines, where it is focused on restarting production and expanding resource potential at historically producing sites. In Tajikistan, Vast holds royalty and management interests in the Takob and Aprelevka gold mines, while also exploring future mining opportunities in Zimbabwe.

  • Pets at Home maintains FY26 profit outlook and shifts capital returns toward buybacks

    Pets at Home maintains FY26 profit outlook and shifts capital returns toward buybacks

    Pets at Home (LSE:PETS) expects underlying profit before tax for the 2026 financial year to come in at around £92m, in line with previous guidance. The performance reflects improving trading momentum in the second half, as the company’s retail turnaround strategy begins to deliver stronger volumes and like-for-like sales growth.

    The group’s Vet Group division also continued to perform well, generating strong profit growth supported by rising transaction values and expanding revenues from its Care Plan subscription services. This performance has helped underpin overall earnings stability across the business.

    Pets at Home expects to finish the year with net debt of roughly £20m after returning about £85m to shareholders. As part of a shift in its capital allocation strategy, the company plans to reduce its dividend payout ratio to 50% while increasing the scale of share buybacks, signalling a greater emphasis on repurchasing shares as a method of returning capital.

    The company also welcomed the competition watchdog’s final report on the veterinary services market and said it remains comfortable with current market expectations for profit in 2027. Management added that significant hedging of energy and foreign exchange costs should help protect margins in the near term.

    Overall, Pets at Home’s outlook is supported by solid financial performance, an attractive valuation and a relatively high dividend yield. The expanded share buyback programme represents a positive corporate development, although recent challenges in the retail segment and a prior profit warning highlight potential risks.

    More about Pets at Home

    Pets at Home Group Plc is the UK’s largest integrated pet care provider, combining retail, veterinary and grooming services. The company sells pet food, accessories and other products online and through a network of more than 450 pet care centres across the UK. Many of these locations host veterinary practices and grooming salons, while the group also operates more than 450 small-animal veterinary practices in both in-store and standalone sites.

  • Peel Hunt upgrades FY26 outlook after strong deal flow and trading performance

    Peel Hunt upgrades FY26 outlook after strong deal flow and trading performance

    Peel Hunt (LSE:PEEL) has raised its financial outlook for the year ending 31 March 2026, stating that it now expects to generate more than £140m in full-year revenue and profits significantly above current market forecasts. The improved guidance follows the completion of several recent investment banking transactions and continued robust performance within the firm’s Execution Services division, highlighting the bank’s resilience within UK capital markets despite an uncertain economic backdrop.

    The company noted that geopolitical tensions, particularly the ongoing conflict in the Middle East, have heightened uncertainty and pushed energy prices higher. These developments may influence central bank policy as authorities reassess inflation risks, potentially affecting both the volume and timing of capital markets transactions. In response to the volatile environment, Peel Hunt said it will maintain a focus on supporting clients, controlling costs and managing capital allocation carefully. The firm also confirmed that it intends to release its preliminary FY26 results on 15 June 2026.

    Peel Hunt’s outlook reflects a balance between financial pressures and strategic momentum. While profitability constraints and leverage continue to weigh on financial performance, recent corporate activity signals progress in strengthening the business. Technical indicators suggest a relatively stable share price outlook, and valuation metrics appear moderate at present.

    More about Peel Hunt Limited

    Peel Hunt Limited is an international investment bank focused on advising and supporting UK mid-cap and growth companies. The firm provides a broad range of services including equity and private capital markets advisory, mergers and acquisitions, debt advisory, investor relations and corporate broking. Its platform is supported by research, institutional distribution and an execution services hub that delivers liquidity to UK capital markets from offices in London, New York, Copenhagen and Abu Dhabi.