28th Oct 2025 07:59
(Alliance News) - Anglo American expects to meet 2025 guidance, Barclays buys a US personal loan origination platform, while C&C Group's interim profit rises.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called up 0.2% at 9,672.72
GBP: higher at USD1.3347 (USD1.3331 at previous London equities close)
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BROKER RATINGS
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Jefferies cuts Big Yellow Group to 'hold' - price target 1,191 pence
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Barclays reinitiates Tritax Big Box with 'overweight' - price target 175 pence
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UBS starts Fermi with 'buy' - price target 30 USD
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COMPANIES - FTSE 100
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Anglo American says it is well positioned to meet 2025 guidance after "another solid quarter" in copper and iron ore production. The firm says copper production rose to 184,000 tonnes from 181,000 tonnes a year ago. The London-based diversified miner says iron ore production fell to 14.3 megatonnes from 15.7 Mt a year prior. Production of manganese ore more than doubled to 973,000 tonnes in the quarter from 406,000. "In copper, strong operational momentum and higher grades at both Quellaveco and Los Bronces underpinned performance, offsetting the current lower production phase at Collahuasi which is expected to recover by the end of 2026," says Chief Executive Officer Duncan Wanblad. "Looking ahead, and building on the substantial value we have already unlocked through our own portfolio transformation, our agreement to merge with Teck represents our next major strategic step to accelerate value accretive growth, with the combined company forming a global critical minerals champion offering more than 70% copper exposure."
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Barclays agrees to buy US direct-to-consumer personal loan origination platform Best Egg for USD800 million. The London-based bank says the deal by its wholly-owned US consumer banking subsidiary Barclays Bank Delaware, which operates as Barclays US Consumer Bank, is expected to complete in the second quarter of 2026. Best Egg focuses on prime borrowers and an "established track record of risk management". In 2025, it is expected to facilitate over USD7 billion in personal loan originations via its platforms. It currently serves around USD11 billion in personal loans. Following completion of the acquisition, Barclays says it expects to continue this model and retain a "small portion" of Best Egg's new lending flow on its balance sheet. Barclays says it expects the acquisition to generate an "attractive return on investment" comparable to its three highest-returning UK businesses over time. It expects the deal to be accretive to USCB's return on tangible equity in 2027, supporting its mid-teens ROTE target post 2026. It also expects the deal to be accretive to Barclays' ROTE and earnings per share in 2027.
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HSBC maintains its dividend amid robust interest and fee income growth in the third quarter of 2025. The Asia-focused, London-based universal bank says pretax profit fell 14% to USD7.30 billion in the third quarter ended September 30, down from USD8.48 billion a year earlier. Diluted earnings per share decline to USD0.28 from USD0.34 previously. The bank leaves its third quarter dividend unchanged at USD0.10 per share, having completed its USD3 billion share buyback programme during the three month period. Net interest income rises 15% to USD8.78 billion from USD7.64 billion, while net fee income grows 12% to USD3.51 billion from USD3.12 billion.
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COMPANIES - FTSE 250
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C&C Group says profit rises in the first half of the year despite lower profit. Pretax profit grows 12% to EUR32.1 million in the six months to the end of August from EUR28.6 million a year prior. The Dublin-based beer, cider, wine, spirits and soft drinks maker says net revenue sinks 4.1% to EUR825.7 million from EUR861.4 million. It declares an interim dividend of 2.08 cents per share, up 4.0% from 2.00 cents a year prior. "We have delivered a solid first-half performance against a challenging market backdrop," says CEO Roger White. "We believe we are well prepared for the all-important festive trading period, and whilst we expect challenging economic conditions to persist, we remain committed to the delivery of our full-year earnings targets."
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OTHER COMPANIES
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Winvia Entertainment expects a market capitalisation of GBP205.0 million at its planned IPO next Monday. The London-based technology-led entertainment business is focused on the large and "highly fragmented" UK prize draw market, and the regulated Romanian online gaming market. It owns two prize draw brands, Best of the Best and Click Competitions. It says 105.1 million shares will be admitted at the IPO, as it plans to raise GBP40 million via a placing. The firm says proceeds of the placing will be used to fund acquisitions in the UK prize draw sector, in which it sees "significant opportunities for rapid growth," with the group in discussions with several potential acquisition targets.
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Next 15 agrees to sell its majority-owned US-based capital markets advisory business, Blueshirt Group LLC and Blueshirt Capital Advisors LLC to the founders and senior management teams of the businesses. The London-based digital marketing firm says it will retain a minority stake in both businesses. It adds that it has been granted put options as part of the sale, which enables it to sell its residual interest to Blueshirt management "in due course". "The divestment of The Blueshirt Group and BCA demonstrate our disciplined approach to portfolio management," says CEO Sam Knights. "We continue to focus the group on the businesses that best fit within a portfolio geared towards technology, data and activation. We believe this is a positive outcome for all parties."
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Idox agrees to be bought by a newly-formed company indirectly owned by investment funds of Long Path Partners, a privately-owned investment firm. Under the deal, Idox shareholders will receive 71.5 pence per share, 27% higher than Monday's closing price of 56.40p. It values Idox's share capital at GBP339.5 million. Long Path Partners expects the takeover to become effective during the first quarter of 2026. Idox is a Woking, Surrey-based software company focused on government services, such as election management. Idox Chair Chris Stone says the company is confident in its standalone prospects, while noting plans by the potential buyer to invest in Idox's product suite. "Following careful consideration, as a board we have unanimously concluded that the acquisition is in the interests of our key stakeholders," he adds.
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By Michael Hennessey, Alliance News reporter
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Related Shares:
Big YellowTritax Big BoxFermi IncAnglo AmericanBarclaysHSBC HoldingsC&C GroupNext 15 GroupIdox Group