Source: Sharecast
STOCKS TO WATCH
Compass Group boosted its full-year outlook on Monday following a robust first half performance, with the catering giant now expecting annual organic operating profits to grow more than 11%, up from previous guidance for around 10%, after underlying interim revenues rose 9% to $25bn and profits jumped 12% at $1.8bn. Chief executive Dominic Blakemore said there was "great momentum" across the business, with a number of new contract wins secured during the first half.
Games Workshop said Neil Tomlinson, group operations director, has been appointed as chief operating officer. Tomlinson will be responsible for the company's design studios, extending his remit across the full design to manufacture team, the company added in a statement on Monday. Max Bottrill, operational IP and design director, will report to Tomlinson, and will step down as a PLC director. The changes will be effective from 31 May.
Drugmaker GSK has struck an exclusive agreement with Sino Biopharmaceutical subsidiary Chia Tai Tianqing Pharmaceutical to accelerate its chronic hepatitis B treatment, bepirovirsen, in mainland China. Separately, GSK launched the fifth and final tranche of its £2bn share buyback programme, with up to roughly £180m expected to commence on 11 May and conclude by 26 June. To date, GSK has repurchased 114.43m ordinary shares for approximately £1.82bn.
Residential landlord Grainger has agreed to an extension on £540m of its core banking facilities to 2033 with AIB, Barclays, HSBC and NatWest. Grainger said the extensions further strengthen igs balance sheet, with weighted average facility maturity including extension options increasing to 4.6 years. The extensions were agreed at lower margins, resulting in an annual saving of roughly £1m in finance costs.
NEWSPAPER ROUND-UP
British households are bracing for a new cost of living crisis, as the impact of the Middle East conflict dampens confidence in the economy and personal finances, a survey has suggested. Consumer confidence in the UK has dipped over the last three months at the fastest rate since June 2022, when inflation in the UK was soaring as a result of Russia's invasion of Ukraine and the spike in commodity prices. – Guardian
The Sports Direct founder, Mike Ashley, has admitted to arranging surveillance footage that brought down his rival Peter Cowgill, the former JD Sports chair. Cowgill was secretly filmed in 2021 in a car talking with the Footasylum boss Barry Bown. JD Sports was in the process of acquiring the trainer retailer at the time and the two companies were not allowed to share commercially sensitive information. – Guardian
The UK is poised to shed 163,000 jobs this year as the Iran war drives up energy costs and weakens the economy. Economists at the ITEM Club warn that the conflict's impact will be felt most sharply in the energy-intensive manufacturing sector, where 65,000 jobs will be lost. Another 32,500 will disappear in the construction sector. – Telegraph
The Ministry of Defence is paying millions of pounds a year to Elon Musk's Starlink as part of efforts to support Ukraine. In the last four years, defence officials have spent £16.6m with Starlink, according to newly released government figures. Some of this concerns the purchase of Starlink terminals donated to Ukraine, which are used to provide uninterrupted high-speed internet access on the front line. – Telegraph
Disruption to global oil markets from the Iran war could extend into next year unless the Strait of Hormuz is reopened imminently, according to the world's largest oil company. Amin Nasser, the chief executive of Saudi Aramco, said the world had lost about one billion barrels of oil over the past two months, after the start of the Middle East war in late February. – The Times
The share of new homes sold "off plan" before they are built has fallen to a 12-year low as buy-to-let investors leave the market and higher interest rates slow sales. New figures from Hamptons, the estate agents, show that 33% of new-build properties in England and Wales were sold before construction was complete in 2025, down from 49% in 2016. – The Times
US CLOSE
Stronger-than-expected jobs data and strong gains in the chip sector pushed the S&P 500 and Nasdaq to more record highs on Friday, with investors seemingly shrugging off ongoing uncertainty in the Middle East.
At the close, the Dow Jones Industrial Average was up just 0.02% at 49,609.16, while the S&P 500 advanced 0.84% to 7,398.93 and the Nasdaq Composite saw out the session 1.71% firmer at 26,247.08.
Reporting by Iain Gilbert at Sharecast.com