13th Nov 2026 07:57
(Alliance News) - Aviva remains confident in its full-year outlook after growth in insurance premiums and wealth inflows, while Land Securities reports a sharp rise in half-year profit. GSK receives a positive European regulatory recommendation for a booster dose of its meningitis B vaccine.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 0.3% at 10,832.69
GBP: slightly higher at USD1.3234 (USD1.3233 at previous London equities close)
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ECONOMICS
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China warned the US on Friday against putting additional export controls on semiconductors in the wake of the scandal surrounding artificial intelligence chip firm Nvidia. China "has consistently opposed the abuse of export control measures, which disrupts the stability of global industrial and supply chains and serves no party's interests," foreign ministry spokeswoman Mao Ning told a regular briefing when asked about calls from US lawmakers to impose more limits on exports of chip equipment to China.
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BROKER RATINGS
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LBBW raises Vodafone to 'buy' (hold) - price target 130 (125) pence
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Peel Hunt raises Asos to 'buy' (add) - price target 560 (475) pence
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Peel Hunt cuts Dr Martens to 'add' (buy) - price target 70 (95) pence
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COMPANIES - FTSE 100
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Aviva says it remains confident about trading for the rest of 2026 and expects earnings per share growth broadly in line with its 11% target, as it remains on track to deliver its three-year group targets. The insurer reports general insurance premiums of GBP11.8 billion for the nine months to September 30, up from GBP10.0 billion a year earlier. Wealth net flows rise to GBP10.9 billion from GBP8.3 billion, while wealth assets under management increase to GBP267 billion at September 30 from GBP224 billion a year earlier. Its solvency II cover ratio improves to 179% from 176% at June 30. Aviva says its performance reinforces confidence in its ability to grow earnings over the longer term. Chief Executive Officer Amanda Blanc says: "Aviva is in great shape. Our performance has been excellent in the first nine months of 2026, demonstrating once again the benefits of scale across our diversified business. We continue to deliver strong, profitable growth, particularly in the capital-light areas of General Insurance and Wealth."
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Land Securities Group reports a rise in pretax profit to GBP243 million for the six months to September 30 from GBP98 million a year earlier, supported by a GBP88 million property valuation surplus. EPRA earnings remain flat at GBP192 million, while EPRA earnings per share edge up to 25.9 pence from 25.8p. Like-for-like net rental income grows 6.2%, and the interim dividend rises 2.1% to 19.4p per share. The property developer now expects full-year like-for-like rental income growth at the upper end of its 3% to 5% guidance range and forecasts improved high-single-digit EPRA EPS growth in financial 2028.
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GSK says the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended expanding the label of its Bexsero meningitis B vaccine to include a single booster dose for people aged 10 and older who received their initial vaccination at least two years earlier. The recommendation is supported by data from a phase IIIb trial involving 312 participants, which met its primary endpoint and showed that immune memory established through vaccination in infancy can be boosted up to 19 years later. GSK says the booster could help maintain protection into adolescence, when meningococcal disease incidence reaches a second peak. The company adds that the booster dose's safety profile is consistent with the vaccine's established profile in this age group. Bexsero is currently registered in 61 countries, with around 140 million doses distributed globally since 2015.
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COMPANIES - FTSE 250
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Meridian Mining reports working capital of USD87.7 million at September 30, down from USD93.8 million at June 30, while cash falls to USD90.1 million from USD96.0 million. The miner highlights the definitive feasibility study for its Cabacal copper-gold project in Brazil, which estimates an after-tax net present value at a 5% discount rate of USD2.09 billion, an internal rate of return of 107.6% and initial capital expenditure of USD322 million. It also confirms the "exceptional" quality of Cabacal's copper concentrates following smelter testing. Meridian says it has received more than 20 indicative financing proposals, including several fully financed proposals worth USD400 million, as it advances towards a final investment decision.
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OTHER COMPANIES
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Wise Group reports a 9.2% rise in pretax profit to USD334.9 million for the six months to September 30 from USD306.7 million a year earlier, as net revenue grows 23% to USD1.45 billion from USD1.18 billion. Net income increases to USD249.2 million from USD234.8 million, while active customers rise 21% to 16.2 million and cross-border transaction volumes grow 24% to USD141.0 billion. The money transfer firm expects full-year net revenue growth of 17.5% to 20% at constant currency, towards the upper half of its medium-term target range of 15% to 20%, and guides for a pretax profit margin around the top of its 20% to 25% target range.
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DFS Furniture warns that full-year profit expectations face a wider range of potential outcomes as demand for upholstered furniture weakens further amid pressure on household budgets and fragile consumer confidence. The retailer says market demand softened in the seven weeks following its first 12 weeks of financial 2027, when group order intake fell 2.5% year-on-year. However, its DFS and Sofology brands continue to outperform the wider sector, according to banking data. The company says it is introducing targeted commercial initiatives ahead of Black Friday and its winter sale while maintaining tight cost controls. DFS will provide a further trading update on January 21.
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Microsoft says it is working to restore services after widespread outages disrupted several of its products, including Teams, Outlook, Copilot and some cloud services. Problems were first reported in the UK on Thursday evening and continued into Friday morning, according to monitoring website Downdetector. Microsoft says attempts to restore servers overnight have been unsuccessful, with systems crashing again after being brought back online. The company has tried isolating parts of its infrastructure and rerouting traffic to mitigate the disruption. Executive Vice-President Charles Lamanna says there is no indication the outages are linked to malicious activity or a cyber attack. Meanwhile, OpenAI reports problems with its Microsoft connectors, warning that new connections may be broken and tools may not work as expected. Microsoft says: "As of now, we are not aware of any malicious activity that is causing this incident. We will continue to treat this incident with urgency and priority until full resolution."
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By Eva Castanedo, Alliance News senior economics reporter
Comments and questions to [email protected]
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Related Shares:
AvivaLand SecuritiesGlaxosmithklineMeridian MiningDfs Furniture PlcWise GroupVodafoneASOSDr. Martens