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FirstGroup plc (LSE:FGP) has purchased the UK sightseeing bus businesses of RATP Développement SA in a deal valued at roughly £17 million, strengthening its First Bus presence in both London and Bath.

The transaction covers sightseeing services currently operated under the Tootbus brand and includes 63 vehicles—42 based in London and 21 in Bath—along with a freehold depot in Wandsworth, a leased depot in Keynsham, and around 190 staff across the two sites.

In London, the acquisition provides greater diversification within the capital’s transport landscape and creates an opportunity for FirstGroup to enhance its service offering. The company also plans to pursue additional Transport for London (TfL) red bus route contracts using the Wandsworth depot as a base.

For Bath, the deal similarly broadens FirstGroup’s local operations and secures extra depot capacity to support future growth.

The acquired businesses generated £15.9 million in revenue and posted an operating loss of £0.6 million for the year ended December 31, 2023. FirstGroup anticipates a small loss in the first full year of ownership but expects the business to return to profitability thereafter. By FY 2029, the company projects around £30 million in annual revenue, supported by expansion in First Bus London’s TfL contract portfolio.

The acquisition is being funded through existing cash reserves. As a result, FirstGroup now expects FY 2026 adjusted net debt of £140–150 million.

Graham Sutherland, Chief Executive Officer of FirstGroup, said: “The acquisition of the bus operations in London and Bath, in line with our UK-focused growth and diversification strategy, will allow us to further diversify and expand our footprint in two of our key markets. The integration of the businesses will also create material operational and cost synergies and the opportunity to grow our London route portfolio over time.”

Bill Cahill, MD of First Bus London, and Doug Claringbold, MD of First Bus West of England, will lead the integration and development of the newly acquired operations.

Drax Group PLC ADR (LSE:DRX) said Thursday that it anticipates its adjusted EBITDA for full-year 2025 will come in near the top of analyst expectations, supported by strong operational performance across the business.

The company noted that current analyst consensus places adjusted EBITDA for 2025 at £902 million, within a range of £892 million to £909 million as of December 4.

Looking further ahead, Drax is maintaining its target of generating £600–700 million in adjusted EBITDA annually after 2027. It also expects its existing operations to produce roughly £3 billion in free cash flow between 2025 and 2031—a level that would underpin more than £1 billion in shareholder returns and up to £2 billion in growth-focused investments.

The group has already locked in about £2.3 billion in contracted forward power sales between 2025 and Q1 2027 tied to its Renewables Obligation biomass, pumped storage, and hydro generation assets. For 2025 and 2026, Renewables Obligation output is fully hedged, with over £1 billion in related ROCs.

Drax continues to advance its growth pipeline in flexible generation, including gigawatt-scale opportunities in battery energy storage. In October, the company struck a deal to acquire three BESS projects totaling 260MW, with staged payments of £157.2 million scheduled between 2025 and 2028.

The company is also assessing ways to unlock additional value at its Drax Power Station site. This includes preparing a planning submission for a potential 100MW data centre that could be operational in 2027, while longer-term evaluations explore options for more than 1GW of total data centre capacity.

“It is vital that the UK maintains its energy security and delivers affordable routes to decarbonisation into the 2030s and beyond,” said Drax Group CEO Will Gardiner. “By 2050, demand for power is expected to double, while secure gas generation reduces and intermittent renewable generation increases, meaning more dispatchable and reliable generation will be required.”

NewRiver REIT plc (LSE:NRR) announced Thursday that it has signed a conditional agreement with the Mid-Sussex District Council to establish a joint venture aimed at redeveloping The Martlets shopping centre in Burgess Hill.

The scheme, which already has planning approval, will overhaul the 1970s-era complex and convert it into a contemporary hub for retail, leisure, and residential living. Plans call for 172 new apartments, a 102-room hotel, 4,645 square meters of additional retail—including a 1,950-square-meter grocery store—and upgraded public spaces.

The joint venture will move forward once a number of conditions are fulfilled, such as the sale of the residential portion of the site—currently under offer—and the completion of pre-lease agreements for both the grocery store and hotel, where legal discussions are reportedly well advanced.

NewRiver expects these conditions to be satisfied by the end of March 2026, paving the way for construction to begin in summer 2026 and conclude in 2028.

Allan Lockhart, CEO of NewRiver REIT, called the agreement “a major milestone in the realization of a flagship downtown redevelopment project and the creation of a high-impact and transformative partnership.”

He added that the company has collaborated with the Mid-Sussex District Council for years to “implement a low-capital and commercially viable strategy to redevelop The Martlets”.

Shares of Entain PLC (LSE:ENT) slipped 3.5% on Thursday after the sports betting and gaming group revealed that Chief Financial Officer Rob Wood will be leaving the company in 2026, concluding a 13-year tenure.

The FTSE 100 company confirmed that Michael Snape will take over as Group CFO and Executive Director on March 6, 2026. Snape, who brings more than 20 years of senior finance experience, is set to join as CFO Designate in February 2026. Wood will remain at the business until June 2026 to support a seamless handover.

Wood has played a pivotal role in reshaping Entain into a major global operator firmly anchored in regulated markets. His exit comes as the firm continues advancing its strategic agenda across the betting and gaming landscape.
“His expertise and dedication have helped us to successfully transform into the global business we are today,” said Group CEO Stella David, reflecting on Wood’s contributions.

Snape currently serves as Group CFO of International Distribution Services (IDS), a global logistics provider. His background also includes senior finance positions at Walgreens Boots Alliance, Tesco, and Waitrose.

Entain added that trading so far this year remains consistent with market expectations for fiscal 2025. The company plans to publish its FY2025 results on March 5, 2026, with analyst estimates pointing to EBITDA of £1.139 billion.

Geo Exploration Limited (LSE:GEO) has released an update on its recently secured Gorge Project in Western Australia, outlining early-stage exploration efforts aimed at uncovering large-scale gold deposits. The project, supported by a newly granted exploration licence, expands GEO’s portfolio into a historically underexplored region that has previously yielded encouraging indications of mineralisation. With licence acquisition now complete, the company is preparing for high-resolution surveys and a drilling programme scheduled for 2026. These steps mark meaningful progress toward evaluating what could become a significant bedrock gold discovery, strengthening GEO’s position within the gold exploration sector and creating new value opportunities for stakeholders.

More about Geo Exploration Limited

Geo Exploration Limited is active in the mining sector, concentrating on the exploration and development of gold resources. The company’s strategy centres on identifying and advancing large Intrusion-Related Gold Systems (IRGS) across Western Australia, with a focus on expanding its landholdings to support long-term exploration growth.

Anglo Asian Mining (LSE:AAZ) has reported major improvements at its Gedabek flotation plant, where newly installed filter presses and a thickener have contributed to record copper production in November. These upgrades form part of the company’s wider plan to boost operational efficiency and increase overall processing capacity, aligning with the growing global demand for copper and supporting Anglo Asian’s long-term growth strategy.

Although the production gains are encouraging, the company’s broader outlook continues to be shaped by significant financial pressures that require strategic attention. Even so, favourable technical indicators and supportive corporate developments introduce a measure of optimism, suggesting that meaningful recovery could be achievable if financial challenges are effectively addressed.

More about Anglo Asian Mining

Anglo Asian Mining plc is a copper and gold producer with mining and exploration assets across Azerbaijan. The company aims to evolve into a multi-asset, mid-tier producer by 2030, with copper becoming its primary output. This transition is expected to be driven by the development of new mines—including Xarxar, Garadag, and Zafar—alongside the expansion of its existing operations.

Blencowe Resources Plc (LSE:BRES) has secured £3 million through a placement of new ordinary shares, shortly after completing the Definitive Feasibility Study for its Orom-Cross graphite project. The fresh capital will support the company as it moves into the financing and development phase, providing the operational flexibility needed to advance the project toward production. The funding will help progress commercial negotiations, strengthen project readiness, and allow Blencowe to bring in key personnel and expertise. This influx of capital enhances the company’s financial footing and improves its ability to attract strategic partners as Orom-Cross enters its next stage of growth.

Despite this positive milestone, Blencowe Resources continues to face material financial challenges. With no current revenue, recurring losses, and negative cash flow, the company’s overall outlook remains pressured. Bearish technical indicators add to the cautious sentiment, though recent funding success and strategic initiatives offer some longer-term potential.

More about Blencowe Resources Plc

Blencowe Resources Plc is a natural resources company focused on developing the Orom-Cross graphite project in Uganda. The project hosts a large, high-quality graphite deposit noted for its coarse flake profile. Blencowe aims to leverage Uganda’s low-cost hydroelectric power and existing infrastructure to position Orom-Cross as a competitive source of graphite for global markets.

PZ Cussons (LSE:PZC) has chosen to retain its Africa operations, outlining plans to drive growth through the strengthening of core brands, diversification across key product categories, and broader expansion into markets across the continent. The decision follows a strategic assessment of the African business and the recent divestment of the company’s stake in PZ Wilmar Limited. Leveraging its established brand presence and operational capabilities, PZ Cussons intends to tap into Africa’s favourable demographic and economic trends while applying enhanced risk management frameworks to support sustainable expansion.

The company’s outlook remains mixed, reflecting ongoing challenges in profitability and cash generation. Nevertheless, encouraging earnings guidance and supportive corporate developments point to potential improvement ahead. Technical and valuation indicators suggest investors are adopting a cautious stance for now.

More about PZ Cussons

PZ Cussons is a global consumer goods company headquartered in Manchester, UK, with operations spanning Europe, Africa, Asia-Pacific, and North America. Founded in 1884, the company offers products across the Hygiene, Baby, and Beauty categories, with well-known brands including Carex, Cussons Baby, and Imperial Leather. It maintains a strong commitment to sustainability and community wellbeing.

Serica Energy (LSE:SQZ) has completed its £14.5 million acquisition of Prax Upstream Limited (PUL), bringing the Lancaster field into its portfolio. Production from Lancaster is expected to continue until mid-2026. As part of the transaction, Serica also acquires a $34 million cash balance, of which $12 million is earmarked for FPSO demobilisation obligations. The company anticipates closing additional acquisitions from TotalEnergies and ONE-Dyas during the first half of 2026. Serica has further strengthened its exploration portfolio by farming into a 40% interest in Licence P2530, covering the Wagtail oil discovery alongside several other prospects. The integration of PUL’s workforce — including experienced non-operated asset manager Alessandro Agostini — is expected to enhance Serica’s capacity to manage its growing portfolio.

Serica’s outlook is supported by a solid financial base and ongoing strategic expansion, though technical indicators currently signal bearish momentum. Persistent valuation concerns linked to a negative P/E ratio, along with regulatory and operational risks, continue to weigh on sentiment. Still, strong liquidity and an attractive dividend yield provide meaningful offsets.

More about Serica Energy

Serica Energy is an independent UK oil and gas producer with a broad asset base on the UK Continental Shelf. The company supplies roughly 5% of the UK’s natural gas and plays a key role in supporting the country’s energy transition. Since 2020, Serica has invested more than £1 billion into the domestic supply chain and maintains a balanced portfolio of oil and gas assets. Its core producing hubs include the Bruce, Keith, and Rhum fields in the Northern North Sea, as well as a mix of operated and non-operated interests linked to the Triton FPSO in the Central North Sea. Serica is listed on the AIM market of the London Stock Exchange.

Alien Metals Ltd (LSE:UFO) has completed a £1.8 million equity placement involving the issuance of 2 billion new common shares, providing additional capital to support ongoing operations and strategic priorities. The funding will help advance the company’s iron ore projects in Western Australia and strengthen the balance sheet through debt reduction. The firm also intends to appoint Michael Carter as an independent non-executive director, adding valuable capital markets expertise to the board. Alongside these developments, Alien Metals is progressing multiple exploration initiatives—including silver assays at Elizabeth Hill and PGM drilling at Munni Munni—demonstrating growing operational momentum and setting the stage for further expansion in 2026.

More about Alien Metals Ltd

Alien Metals Ltd is a mineral exploration and development company with a diversified portfolio spanning silver, platinum group metals, copper, nickel, and iron ore. The company operates across the mining sector and often pursues strategic joint ventures to advance and unlock value within its asset base.