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Warhammer maker Games Workshop said its current-year licensing revenue would not match 2024/25’s record of £50m adding that pre-tax profit for the 52 weeks to June 1 would be at least £255m, smashing estimates of £225m.
Pharma group GSK has announced that US regulators have approved the use of its Nucala treatment for adults with chronic obstructive pulmonary disease (COPD) following positive results from phase III trials. Nucala, otherwise known as mepolizumab, is now the only approved biologic studied in a wide COPD population with an eosinophilic phenotype, GSK said.
AJ Bell reported a 17% rise in revenue to £153.2m and a 12% increase in pre-tax profit to £68.8m for the six months ended 31 March on Friday, supported by strong customer and asset growth. The FTSE 250 company said it added 51,000 platform customers, lifting assets under administration to a record £90.4bn, and announced further shareholder returns including a 4.5p interim dividend and a new £25m buyback. It said it had also agreed to sell its Platinum SIPP and SSAS business to InvestAcc for up to £25m, and raised its full-year revenue margin guidance despite accelerating investment and higher costs.
Newspaper round-up
The bank holiday getaway is likely to be a tricky one, with transport analysts predicting congested roads and the year’s busiest day so far for departing airports, while long-distance rail passengers dodge the start of more engineering work. Motoring organisations forecast traffic to be at its worst on Friday, with many drivers surveyed apparently taking an extra day off before the long weekend and half-term break for most schools in England and Wales. – Guardian
The US Federal Trade Commission has demanded documents from Media Matters about possible coordination with other media watchdogs accused by Elon Musk of helping orchestrate advertiser boycotts of X, according to a document seen by Reuters on Thursday. The civil investigative demand seen by Reuters seeks information about Media Matters’ communications with other groups that evaluate misinformation and hate speech in news and social media, including a World Federation of Advertisers initiative called Global Alliance for Responsible Media. X has ongoing lawsuits against both organizations. – Guardian
Labour’s windfall tax on oil and gas producers will leave 1.5bn barrels of oil and gas stuck in abandoned North Sea oil wells, according to a new analysis of the levy’s impacts. The predicted output between now and 2050 has fallen 40pc from 3.6bn barrels of oil equivalent to just 2.1bn barrels, according to a report from investment bank Stifel. – Telegraph
Elon Musk’s Tesla has suffered yet another blow as the Chinese electric vehicle maker BYD outsold it in Europe for the first time last month. BYD overtook Tesla’s long-standing dominance in the Continent’s EV segment, registering 7,231 new battery-powered cars in April, while the US carmaker sold 7,165 units, according to figures from the market research firm Jato Dynamics. – The Times
Strava, the American exercise tracking platform beloved by middle-aged men in Lycra, has built on the momentum it gained during the pandemic to reach a valuation of $2.2 billion. It is the first time Strava has disclosed its valuation since a fundraising round in November 2020, when it was valued at $1.5 billion as millions of new subscribers flocked to the platform during Covid lockdowns. – The Times
US close
US stock markets were more or less unchanged on Thursday as concerns about the government's fiscal outlook held back risk appetite after the US House Of Representatives approved Donald Trump's tax reform and reduction bill by the narrowest margins.
News that economic bellwether Nike and luxury fashion group Ralph Lauren would be raising prices due to tariffs also weighed on sentiment.
The Dow finished flat, the S&P 500 edged 0.04% lower, while the Nasdaq gained 0.28%.
Markets fell sharply the previous session – indices recorded their steepest decline in a month - after softer-than-expected demand in a $16bn auction of 20-year bonds saw the coupon rate (5.047%) rise to its highest since 2020 when the maturity was reintroduced.
The weak auction comes amid mounting fears about the US government deficit with massive tax cuts put forward by the president widely expected to make matters worse.