LIVEDaily Stock Market Report (Wed 28th Oct 2026) - Agenda
The overnight news concerns two of the elections I mentioned earlier this week.
Israel: the result of yesterday’s general election vote is said to be too close to call. Exit polls previously suggested that there was a narrow lead for Netanyahu. His rival, former IDF Chief of Staff Gadi Eisenkot, is said to be a centrist (whereas Netanyahu is the leader of Israel’s right-wing political bloc).
Brazil: Flávio Bolsonaro, who lost the election in Brazil this week, has fled to the United States despite being ordered to surrender his passport. His father, former President Jair Bolsonaro, remains in the Brazilian prison system.
I don’t think either of these elections are going to move our markets very much - let’s move onto today's company news.
Overnight market movements:
The FTSE is down 0.2% at 10,660
S&P 500 is up 0.1% at 7,730
Brent crude (January) is up 1.9% at $111.40/bbl
Gold is down 0.7% at $4,030/oz
Bitcoin is up 0.2% at $80,800
Roland Head joins me today.
The table is complete. Spreadsheet accompanying this report: link.
Companies Reporting
Name (Mkt Cap) | RNS | Summary | Our view (Author) |
|---|---|---|---|
Unilever (LON:ULVR) (£105bn | SR62) | Revenue +6.7% to €13.3bn. Underlying sales growth of 5.2%,, with 2.9% volume growth and 2.3% price growth. 2026 outlook upgraded: now expect at least 3% volume growth (previously “around 3%”). Other guidance unchanged. | ||
GSK (LON:GSK) (£78bn | SR81) | Q3 revenue +4% to £8.9bn with operating profit -18% to £2.1bn and adj EPS -1% to 54.6p. 2026 outlook unchanged for revenue growth of 3%-5% and adj EPS growth of 7%-9%. | ||
Standard Chartered (LON:STAN) (£44bn | SR82) | Operating income +13% to £5.8bn with pre-tax profit +27% to £2.25bn. 2026 guidance upgraded: now expects operating income growth above the 5% to 7% range, with RoTE to be around 14% (previously within 5%-7% and above 12%, respectively). | ||
Intertek (LON:ITRK) (£9.1bn | SR51) | Q3 revenue +7%, with 6.4% LFL growth. Acquisition by EQT progressing and expected to complete in Q4 26 or Q1 27. | TAKEOVER | |
Plus500 (LON:PLUS) (£2.36bn | SR66) | Has launched Kalshi perpetual futures ("perps") through its US Futures Commission Merchant ("FCM"). As a result, Plus500 is the first FCM, excluding Kalshi Prime, to offer perps on Kalshi Exchange, a CFTC-regulated US exchange. | ||
Georgia Capital (LON:CGEO) (£1.39bn | SR69) | Sept 26 NAVps +15.1% to £57.69 vs June 26. Q3 revenue +18.5% with EBITDA +26.3% vs Q3 25. | ||
Metro Bank Holdings (LON:MTRO) (£1.14bn | SR74) | Chair Robert Sharpe will step down on 31 October 2026, at the end of his six-year term. An interim chair has been appointed who will lead the search for a new chair.. | ||
Elementis (LON:ELM) (£1.04bn | SR63) | Revenue +7% for the nine months to 30 September. 2026 outlook: FY26 adj op profit expected to be $133-135m, in line with recently upgraded guidance. | ||
Renew Holdings (LON:RNWH) (£780m | SR77) | Porter Brothers is a specialist provider of extra high voltage cabling and directional drilling engineering services to the energy distribution market. Renew has acquired Porter Brothers for up to £50m, with an initial consideration of £31.1m “based on a sustainable EBIT of £3.9m”. | ||
Hunting (LON:HTG) (£644m | SR50) | The conflict in the Middle East has impacted performance in Q3 and into Q4. FY26 adj EBITDA is now expected to be in the range $128-$133m (previously downgraded to $138-$141m in August). | PROFIT WARNING | |
C&C (LON:CCR) (£375m | SR78) | Net revenue -3% to €794.9m with adj pre-tax profit +4% to €33.3m and adj EPS +6% to 7.1c. Growth in Branded sales, offset by lower Distribution. FY27 outlook: in line with expectations. | ||
Aston Martin Lagonda Global Holdings (LON:AML) (£386m | SR19) | Q3 volumes flat at 1,431 with revenue +36% to £388.7m and adj EBIT loss reduced to £(24.9)m. Improved product mix (with more Valhalla deliveries) saw YTD gross margin improve to 35%. FY26 guidance unchanged. | ||
Ecora Royalties (LON:ECOR) (£385m | SR89) | Total portfolio contribution of $24.8m in Q3 2026, broadly flat v Q3 2025. “Looking ahead, we are entering a pivotal phase. The next twelve months should feature a number of key milestones across our development portfolio of copper and wider critical minerals royalties…" | ||
S4 Capital (LON:SFOR) (£359m | SR89) | 2026 full year like-for-like net revenue now estimated to be marginally below previous guidance. Adjusted basic earnings per share is expected to be in excess of current analyst consensus of 6.1p per share. | ||
Hargreaves Services (LON:HSP) (£269m | SR96) | “...a good start to the financial year, with trading in line with the Board's expectations… expects to deliver results for the year ending 31 May 2027 in line with current market expectations.” | ||
Concurrent Technologies (LON:CNC) (£239m | SR49) | $7m of production orders from a major US Tier 1 defence prime contractor. | GN note: no reference to any impact on expectations. | |
Aew UK Reit (LON:AEWU) (£166m | SR73) | NAV of £170.50 million or 107.45 pence per share as at 30 September 2026. NAV total return 1.53% for the quarter. “Looking ahead, we are encouraged by the depth of attractive, high-yielding opportunities in our investment pipeline across a range of real estate sectors.” | ||
BRCK (LON:BRCK) (£158m | SR86) | H1 FY27 results in line with the Board’s expectations. H1 revenue down 1.1%. Continues to be impacted by subdued housebuilding and RMI markets. Board now expects the Company to deliver Adjusted EBITDA* for FY27 of approximately £45.0 million, compared with the current market consensus figure for Adjusted EBITDA of £50.3 million. | PROFIT WARNING | |
Mkango Magnetic Materials (LON:MKA) (£117m | SR n/a) | Agreement with Professor Carlo Burkhardt to acquire his 10 per cent interest in HyProMag Germany, after which HyProMag Germany will be wholly owned by HyProMag UK. Price is £1.06m, of which £758k will be satisfied by new Mkango shares. |
| |
Trufin (LON:TRU) (£55m | SR89) | Buys Rockford Associates for £1.8m, payable in cash, plus £0.2m if EBITDA target achieved. Gives an in-house capability to deliver overpayment audits to clients. | ||
Renalytix (LON:RENX) (£40m | SR24) | Revenues flat at $3.0 million. Underlying EBITDA loss reduced from $14m to $12m. $14m placing in Sep 2026. $4.6m debt converted to equity. |
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Pulsar (LON:PULS) (£20m | SR25) | ARR of £67.7m up 2.6% in FY26 to date. FY26 revenue of c. £65m (FY25: £61.2m) and Adjusted EBITDA of c. £10m (FY25: £10.4m). Assessing demand for a potential fundraise of up to £5.0m. | ||
Kelso group (LON:KLSO) (£20m | SR47) | Further c. 10% increase in NAV since interim results and trading update on 2 September 2026. |
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8 comments
BRCK (LON:BRCK)
Horrendous update here - you have one job if go on acquision trail - you need to ensure acquisitions are sound enough that they pay for themselves - at the very time the company needed the proof that the acquisition strategy is working exactly the opposite is happening - debt up again materially - core profits cratering and there is a new acquisition that again complicates all the numbers. The huge red flag to me is the jump in net debt - I just can’t get that to make sense on any level.
Zeus capital has a new report on Spectra Systems (LON:SPSY) The first central bank order for its polymer bank note substrate.
Could be the start of something big.
No magic wand for JH today yiannos1 but let's hope he doesn't rock the gilts boat. We opened a starter position in BRCK recently and are ready to add if Stockopedia analysis and comments are supportive. Their CEO is a man on a mission but I dislike TU's saying how well they're doing with a PW at the end.
Aside from Bolsonaro fleeing to the US, reminding everyone that it’s Budget Day -:)
All the best
Roll on 10 o'clock, I'll be watching at a 'Spooners.
Take it easy!
We have Warsh’s speech as well later on-:)
All the best
Renew Holdings (LON:RNWH) (I hold) For those of us who subscribe to the theory that the way to make money in a gold rush (in this case electricity transmission) is to sell shovels, today's announcement of the acquisition of Porter Brothers Holdings is a good move. An appreciable capability has been strengthened through several acquisitions.
HI Chris
I agree with your thoughts made my career out of doing well the things others did not want. I like the approach here one for the watch list