Source: Sharecast
STOCKS TO WATCH
EasyJet confirmed that US investment firm Castlelake was in the early stages of considering a possible offer for the budget airline. "The board of easyJet has not had any discussions with, nor received any approach or proposal from Castlelake," it said. "The board is clear in its duty of aiming to maximise shareholder value and will consider any proposal, should one be made. In any assessment, the board will be especially mindful of its valuation and deliverability." The statement came after Castlelake said late on Friday that it was considering a bid, sending US shares of EasyJet soaring. EasyJet noted the "highly opportunistic" timing, pointing to the fact that its share price was "temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices". Under UK takeover rules, Castlelake has until 1700 BST on 26 June to announce a firm offer or walk away.
Instant-service equipment firm ME International warned that annual profits would be lower as the Iran war hit revenues at its photo-booth and laundry businesses in the first half of the fiscal year. Group revenue in the six months ended 30 April grew 2%, but the photobooth business was impacted by reduced demand for official photo ID amid ongoing travel uncertainty. ME now expects FY 2026 profit before tax to be in the range of £69m to £74m, compared with £78.2m a year earlier.
Renewable energy business Drax has agreed to acquire Bluefield Solar Income Fund in a cash deal worth about £548m, with an additional 2.25p dividend taking the total offer to 94.824p per share – a 31% premium to BSIF’s 4 November 2025 closing price, the last trading day before the offer period began. Drax said on Monday that the acquisition would materially expand its renewables business by adding BSIF's roughly 0.9GW portfolio and development pipeline, boosting underlying earnings from clean energy and improving cash‑flow visibility.
NEWSPAPER ROUND-UP
The UK's financial watchdog is being urged to prove its relationship with the US tech company Palantir will not provide the Trump administration with backdoor access to troves of sensitive citizen and commercial data. A US law that can oblige tech companies to disclose information to American authorities may apply to Palantir's deal to help the Financial Conduct Authority detect crime, Martin Wrigley MP, a member of the House of Commons science and technology select committee, has warned. – Guardian
The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the microchip firm into the UK's first trillion-dollar company. Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain "exceptional growth metrics". – Guardian
Britain's property market long felt like the most reliable bet of the post-war era. For decades, soaring house prices made generations of British homebuyers startlingly rich. Since 1982, after adjusting for inflation, figures from the Organisation for Economic Co-operation and Development show real house prices in the UK have soared by no less than 300%. – Telegraph
Meta is profiting from adverts on Facebook and Instagram promoting a controversial "frog poison" detox that has been linked to a number of deaths. The tech giant has run hundreds of adverts targeting British Instagram users marketing the drug known as Kambo. Adverts on Meta's social media platforms typically promote "healing" retreats in the UK or abroad, which include Kambo rituals. – Telegraph
The Australian travel company that operated the Bibby Stockholm asylum barge and overcharged UK clients by nearly £120m has won 22 new contracts worth almost £250m since the financial scandal emerged in August last year. While government agencies, such as the Home Office, said they were reviewing contracts secured by Corporate Travel Management, new deals continue to be awarded to the embattled company. – The Times
Jes Staley, the former head of Barclays, will be questioned by US politicians on Capitol Hill about his relationship with Jeffrey Epstein, the convicted sex offender. Staley has agreed to testify in front of the House oversight committee after its Republican chairman, James Comer, wrote to him in May. Staley is believed to have information that would help the committee's inquiry into the US government's oversight of the Epstein case. – The Times
US CLOSE
Major indices closed at fresh record highs on Friday, capping a strong month for equities as technology shares continued to lead the market higher and crude prices eased.
At the close, the Dow Jones Industrial Average was up 0.72% at 51,032.46, while the S&P 500 advanced 0.22% to 7,580.06 and the Nasdaq Composite saw out the session 0.20% firmer at 26,972.62.
Reporting by Iain Gilbert at Sharecast.com