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TotalEnergies SE (EU:TTE) has completed the sale of its entire European distributed solar portfolio as the French energy group reshapes its renewable energy strategy to concentrate on large-scale solar and wind projects.

The announcement follows a positive session for the company’s shares, which finished higher yesterday after oil prices recovered amid renewed geopolitical tensions between the United States and Iran.

The transaction covers approximately 170 MW of distributed solar assets, primarily rooftop photovoltaic (PV) systems located in France, Belgium, the Netherlands, Spain, Portugal, the UK and Luxembourg. The portfolio has been acquired by independent renewable energy producer Amarenco together with AMPYR Distributed Energy, which will take ownership and operational control of the assets.

The companies did not disclose the financial terms of the transaction.

The disposal forms part of TotalEnergies’ 2026–2030 Strategy and Outlook, under which the company plans to reduce capital and operating expenditure by USD 7.5 billion (EUR 6.55 billion) in response to an uncertain macroeconomic environment. The strategy includes monetising renewable assets in non-core markets while accelerating investment in battery energy storage to benefit from electricity price volatility. TotalEnergies said its business model is better suited to developing utility-scale renewable projects, where economies of scale are greater, than smaller distributed generation assets of less than 3 MW. The company added that the divestment will not affect its wider renewable energy development plans.

Over the past 12 months, TotalEnergies has commissioned 8 GW of gross renewable generating capacity, bringing its total installed renewable portfolio to 35 GW at the end of March. The group intends to maintain that annual deployment rate through 2030, with the objective of exceeding 75 GW of installed capacity and achieving net electricity production of 100 TWh.

Hugo Boss (TG:BOSS) has urged shareholders to reject the voluntary takeover offer from Frasers Group (LSE:FRAS), with both its management and supervisory boards stating that the British retailer’s €38-per-share proposal does not adequately reflect the company’s long-term value or future growth prospects.

Frasers Group, which owns Sports Direct and is Hugo Boss’s largest shareholder, announced the offer last month. However, the German fashion group said the bid significantly undervalues the business as it continues to execute its strategic plan through 2028.

“The offer does not reflect the standalone prospects and future value creation potential of Hugo Boss,” the company said. “On this basis, the Managing Board and Supervisory Board recommend that shareholders do not accept the offer.”

Hugo Boss shares were little changed in European trading by 08:18 GMT following the recommendation.

The company also noted that the €38 offer represents the minimum price permitted under German takeover regulations. The figure is based on the highest price Frasers Group paid for Hugo Boss shares during the six months preceding the offer and, according to the board, should not be viewed as an assessment of the company’s intrinsic value.

Shares in Hugo Boss surged when Frasers Group announced its proposal last month, valuing the fashion retailer at approximately $2.3 billion. At the time, Hugo Boss described the approach as uncoordinated and confirmed that its board would conduct a formal review. The offer values the company’s outstanding shares at around €2 billion.

Following the announcement, analysts at JPMorgan said the proposal was likely to provide a near-term floor for the share price but saw limited scope for a competing offer to emerge.

Hugo Boss shares remain well below the levels seen three years ago as the company continues to implement its turnaround strategy. Its “Claim 5 Touchdown” plan focuses on modernising stores, streamlining product ranges and expanding its womenswear business. Through the strategy, the company is targeting an EBIT margin of around 12% and average annual free cash flow of approximately €300 million by 2028, supported by stronger brand positioning, improved distribution and greater operational efficiency.

Saga (LSE:SAGA) shares gained 4.0% during Thursday’s trading session, rising to 612.6p after Berenberg initiated coverage of the specialist provider for the over-50s market with a Buy recommendation and a price target of 1,025p. The target suggests potential upside of around 62% from the previous closing price of 589p.

The broker’s initiation attracted strong investor attention at the market open, with Berenberg outlining several factors supporting a more positive outlook for the company.

A key element of the investment case is Saga’s 20-year affinity insurance partnership with Ageas, which began in mid-2025 after the company sold its underwriting business for £67.5 million. Berenberg believes the agreement transforms Saga’s insurance operations into a capital-light broking model, improving the group’s long-term financial profile.

The analysts also highlighted continued strength in Saga’s Ocean Cruise division, together with a significant reduction in net debt, as evidence that the company is making solid progress in strengthening its balance sheet and executing its turnaround strategy.

Saga’s share price performance contrasted with a more subdued broader market. The FTSE 100 traded cautiously on 9 July as investors remained focused on rising geopolitical tensions in the Middle East after comments from U.S. President Donald Trump that the Iran ceasefire was “over” weighed on sentiment and pushed oil prices higher. Against that backdrop, Berenberg’s positive assessment provided a company-specific catalyst that helped Saga outperform the wider market.

The combination of a favourable analyst initiation, a price target substantially above the current share price and confidence in the company’s ongoing transformation was enough to trigger a strong re-rating in the shares despite the uncertain market environment.

Following the latest gains, Saga shares remain within reach of their 52-week high of 680p, suggesting positive momentum could continue if additional analyst support emerges.

Glencore PLC (LSE:GLEN) received an upgrade from Goldman Sachs on Thursday, with the investment bank raising its recommendation to Buy from Neutral. The broker said the diversified miner is well placed to benefit from favourable market conditions in copper, zinc and metallurgical coal, even as it remains cautious on the outlook for iron ore.

Shares in Glencore climbed 3.5% to 507.80 pence in London trading, comfortably outperforming the FTSE 100, which gained around 0.7% during the session.

Although Goldman Sachs reduced its 12-month price target to £6.30 from £6.60, it said the recent weakness across the mining sector has created a more attractive valuation. The revised target continues to indicate significant upside from the current share price.

According to the broker, Glencore offers one of the strongest combinations of exposure to its preferred commodities, together with potential earnings upside from its marketing division and an attractive valuation compared with other diversified mining companies.

Goldman expects copper prices to remain well supported by tightening global mine supply and the possibility of U.S. import tariffs. It also believes zinc fundamentals remain favourable due to ongoing shortages of concentrate supply. In addition, the bank has become more optimistic about metallurgical coal following supply disruptions in China’s Shanxi province and expectations of seasonal restocking demand from India and China later this year.

The broker also highlighted additional upside potential from Glencore’s marketing business, pointing to elevated volatility in energy markets and ongoing dislocations across the physical copper and aluminium markets. Goldman added that potential asset sales—including infrastructure holdings, Glencore’s remaining stake in Bunge and selected mining investments—could provide additional capital for enhanced shareholder returns over the next 12 to 18 months.

Looking more broadly across the sector, Goldman Sachs reiterated its positive view on European mining companies with significant exposure to copper and aluminium. The bank maintained Buy ratings on Antofagasta, Norsk Hydro and Lundin Mining, while continuing to take a more cautious stance on iron ore, warning that weaker steel demand could push prices towards $90 to $95 per tonne.

GlobalData (LSE:DATA) delivered modest growth during the first half of 2026, with revenue increasing by around 3%, underlying revenue rising approximately 1% and adjusted EBITDA improving by between 4% and 5%. The company said trading continued to be affected by longer sales cycles and a challenging macroeconomic backdrop. However, renewal rates remained strong at around 89%, while contracted forward revenue increased by roughly 6%, reflecting the resilience of its subscription-based business model and proprietary data offering.

As it reaches the conclusion of its current Growth Transformation Plan, GlobalData is reshaping its operating model by combining its AI-enabled platform with market-focused business units and updated go-to-market strategies aimed at accelerating future growth. During the period, the company completed the acquisition of Cambridge Healthcare, strengthening its competitive intelligence capabilities for global pharmaceutical customers. It also secured additional financing capacity and announced a £30 million tender offer at 85 pence per share, bringing planned shareholder returns for the year to £45 million, plus a further £8 million carried forward from previous plans. Management expects to outline its next phase of strategic development in September.

The company also continues to enhance its artificial intelligence capabilities through the integration of its Ava AI Research Assistant into Microsoft 365 Copilot. GlobalData believes this will increase customer engagement by embedding its proprietary intelligence more deeply into clients’ daily workflows. The board also stated that it believes the combined value of the group’s individual businesses exceeds its current market valuation. Although adjusted EBITDA for the full year is expected to come in towards the lower end of market expectations, management remains focused on disciplined execution, targeted acquisitions, margin improvement and sustainable revenue growth.

GlobalData’s outlook continues to benefit from stable revenue growth and dependable cash generation. However, higher debt levels and reduced shareholders’ equity have increased balance sheet risk. Technical indicators point to improving share price momentum, although overbought conditions and a share price still below the 200-day moving average suggest some caution. Valuation appears broadly reasonable, supported by a mid-20s price-to-earnings ratio and a modest dividend yield.

More about GlobalData

GlobalData Plc is a provider of subscription-based data, analytics and technology solutions serving enterprise customers across healthcare and a wide range of commercial industries. Its AI-enabled Connected Intelligence platform combines proprietary datasets, industry expertise and artificial intelligence to deliver market intelligence and decision-support tools. The platform includes the Ava AI Research Assistant, which is integrated into Microsoft 365 Copilot to help customers access actionable insights within their everyday workflows.

The company generates the majority of its revenue through recurring subscriptions and maintains high customer renewal rates. With particular strength in pharmaceutical intelligence alongside broader commercial markets, GlobalData continues to pursue long-term growth through organic expansion, targeted acquisitions and disciplined capital allocation.

Bytes Technology Group (LSE:BYIT) has reported a strong performance during the first four months of its financial year, achieving double-digit year-on-year growth in both gross invoiced income and gross profit across its private and public sector customer base. Operating profit remained broadly unchanged over the period, with management stating that trading continues to track previous guidance.

The company said its performance reflects continued progress in executing its strategy to increase market share across the rapidly expanding artificial intelligence, cloud computing and cybersecurity sectors. Growth has been supported by longstanding relationships with major technology vendors, strong customer demand and continued investment in its workforce, positioning the business to capitalise on increasing enterprise technology spending.

Bytes Technology’s outlook continues to be supported by strong underlying financial fundamentals, including consistent growth, healthy profitability and a conservatively positioned balance sheet with very low leverage. Valuation also remains attractive, with a relatively low price-to-earnings ratio complemented by a strong dividend yield. While technical indicators remain positive, overbought momentum signals suggest the shares could be vulnerable to a short-term pullback.

More about Bytes Technology Group

Bytes Technology Group plc is one of the leading providers of software, cloud and IT solutions across the UK and Ireland. The company specialises in helping organisations procure, deploy and manage technology, with particular expertise in artificial intelligence, cloud computing and cybersecurity. Bytes serves a broad base of corporate and public sector customers and is listed on both the London Stock Exchange’s Main Market and the Johannesburg Stock Exchange.