Source: Sharecast
STOCKS TO WATCH
Power and data transmission product maker Volex expects full-year earnings to be at the upper and of expectations as it benefited from the rush to build artificial intelligence centres. Volex said group revenues for the first half were expected to be at least $710m, including a contribution of approximately $11m from data cable transmission tester Kepler SignalTek, the acquisition of which completed in July.
Drugmaker GSK reported new early‑stage global data for risvutatug rezetecan (Ris‑Rez), an experimental cancer treatment being tested in patients with relapsed small‑cell lung cancer. In a phase Ib study, GSK said the drug produced a 61% response rate at the higher 8mg/kg dose, compared with 32% at 6mg/kg. GSK said the results, which will be presented at the ESMO 2026 congress in Madrid, support using the 8mg/kg dose in its ongoing global phase III trial. The FTSE 100-listed company said the treatment's side‑effect profile was manageable, with most issues linked to blood‑related conditions.
LondonMetric Property flagged a jump in net income on Monday, leaving it on track to meet consensus, despite the challenging macroeconomic backdrop. Updating on trading ahead of interim numbers, the real estate investment trust said net rental income rose by more than 8% to £240m, boosted by last year's acquisition of Urban Logistics, high occupancy and "very strong" rent reviews and leasing activity. The average uplift during the first half from rent reviews was 17%, while rent collection was 99.3% and occupancy was 97.4%. As a result, LondonMetric said it remained "firmly on track" to meet consensus for full-year earnings per share of 13.9p.
NEWSPAPER ROUND-UP
The number of profit warnings from UK-listed companies has risen to the highest level in two years, as the war in the Middle East triggers a surge in costs for businesses before the budget. With less than a fortnight before John Healey's tax and spending statement to the Commons, the consultants EY-Parthenon said companies quoted on the London stock market had issued 65 warnings in the three months to the end of September. – Guardian
British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices. The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour, its highest level in three years, according to analysis by the lobby group UK Steel. Energy prices have long been one of the main factors businesses cite when asked what is holding back British industry. For Andy Burnham they represent perhaps the biggest obstacle to his goal of "reindustrialising" the UK. – Guardian
Istanbul airport has increased its jet fuel reserves to seven times those of Heathrow amid escalating concern over the impact of the Iran war on global supplies. The airport now has 350m litres of kerosene at its on-site fuel farm, far more than the 50m litres held at Heathrow, which Istanbul overtook to become Europe's busiest hub in the summer. – Telegraph
France is bracing for a fresh sell-off in government debt after a wave of violent protests erupted across the country. Bond yields in France are expected to rise on Monday morning in response to the clashes, as economists fear the country increasingly appears "ungovernable". Higher borrowing costs will pile more strain on the country's troubled public finances, while also stoking fears that the violence will lead to a more populist, free-spending candidate coming to power. – Telegraph
Microsoft has pulled out of a data centre agreement in Essex with Nscale in a setback to Britain's artificial intelligence ambitions and the company's $35bn listing plans. The deal with the giant American tech company was announced in September last year as part of a flurry of transactions to coincide with Donald Trump's state visit that promised to deepen the technology partnership between Britain and the United States. – The Times
Jobe Bellingham is among backers who have put $10m into a Manchester-based technology company that tracks the movement of athletes and offers virtual reality training. Bellingham, 21, the younger brother of the England star Jude, has invested in Rezzil alongside the golf putting coach Phil Kenyon and existing partners the Premier League and Simba Investments, the Dubai-based venture capital firm. – The Times
US CLOSE
Major indices fell sharply on Friday, with the Nasdaq suffering steep losses, as a renewed sell-off in the AI and chip sectors dragged markets lower.
At the close, the Dow Jones Industrial Average was down 0.34% at 52,002.41, while the S&P 500 lost 1.09% to 7,659.44 and the Nasdaq Composite saw out the session 2.14% softer at 26,140.03.
Reporting by Iain Gilbert at Sharecast.com