26th Oct 2026 07:58
(Alliance News) - Computacenter raises its full-year profit outlook after strong third-quarter trading, while Plus500 forecast annual revenue and earnings ahead of market expectations. GSK has reported positive clinical trial results for two cancer treatments.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called higher 0.5% at 10,744.56
GBP: lower at USD1.3361 (USD1.3375 at previous London equities close)
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BROKER RATINGS
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Deutsche Bank Research cuts IG Group price target to 1,600 (2,000) pence - 'buy'
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UBS raises Renishaw price target to 7,750 (6,750) pence - 'buy'
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COMPANIES - FTSE 100
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Computacenter raises its full-year 2026 profit outlook after third-quarter trading exceeds expectations, driven by strong demand from hyperscale and neocloud customers in North America and the UK. The technology and services provider now expects adjusted pretax profit of at least GBP425 million for the year, ahead of company-compiled analyst consensus of GBP387.1 million. Technology Sourcing revenue continues to grow strongly during the quarter ended September 30, while Services revenue rises year-on-year as growth in Professional Services more than offsets a decline in Managed Services. North America maintains strong momentum, with record project completions benefiting both Technology Sourcing and Professional Services, while the UK delivers excellent growth in Technology Sourcing and solid growth in Professional Services. Germany reports a robust underlying performance, with strong Technology Sourcing growth and stable Professional Services revenue. The group's committed product order backlog reaches a record GBP12.6 billion at the end of September, up from GBP9.3 billion at the end of June. Computacenter says it has made a strong start to the fourth quarter and continues to see a strong pipeline of opportunities in North America and the UK.
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GSK reports positive updated phase Ib trial results for its investigational ovarian cancer treatment mocertatug rezetecan, or Mo-Rez, showing a confirmed objective response rate of 62% in patients with platinum-resistant ovarian cancer. The BEHOLD-1 trial shows a median duration of response of 12.2 months and median progression-free survival of 11.1 months, with five pivotal phase III studies now underway across ovarian and endometrial cancers. Separately, GSK reports that 76% of evaluable patients with locally advanced rectal cancer achieved a complete response to Jemperli alone in its phase II Azur-1 trial, with no disease recurrences reported among responders after a median follow-up of more than two years. The results support Jemperli's recent US approval for this indication.
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COMPANIES - FTSE 250
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Plus500 expects full-year 2026 revenue and earnings before interest, tax, depreciation and amortisation to exceed current market expectations, following strong third-quarter trading and continued expansion in the US and Brazil. The trading platform operator reports third-quarter revenue growth of 11% to USD203.2 million from USD182.7 million a year earlier, while Ebitda rises 7.0% to USD88.4 million from USD82.7 million, representing a margin of 44%. New customers increase 27% to 28,747, while active customers rise 3.6% to 119,528. For the first nine months of 2026, revenue climbs 11% to USD666.1 million and Ebitda increases 3.0% to USD275.9 million. Plus500 says its non-over-the-counter business accounts for around 16% of year-to-date revenue, supported by growing US operations and new partnerships. The company also highlights its proposed acquisitions of US broker-dealer Hedge and Brazil's Guru, which will expand its market access and support the planned launch of a US multi-asset trading app in the first quarter of 2027. Plus500 holds more than USD775 million in cash at September 30 and remains debt-free.
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3i Infrastructure says its portfolio company Future Biogas has acquired the remaining 49% stake in six UK anaerobic digestion facilities from Foresight Environmental Infrastructure Ltd for GBP104 million, taking full ownership. Future Biogas acquired its initial 51% stake in August 2024 and has since delivered around 21% Ebitda growth across the plants. The acquisition will allow further capacity expansions and operational improvements, and will initially be funded through equity from 3i Infrastructure and existing cash, ahead of a refinancing. Most of the equity funding is expected to be returned by March 2027.
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RTW Biotech Opportunities says portfolio company Lycia Therapeutics Inc has raised approximately USD318 million through an upsized initial public offering on Nasdaq, selling 17.6 million shares at USD18 each. Lycia's shares closed up 67% at USD30 on their first day of trading, representing a 229% increase from RTW's previous holding valuation at September 30 and a 233% increase from its investment cost. Lycia, which develops treatments for food allergies and Graves' disease, represents 0.8% of RTW's net asset value before the valuation uplift. The listing marks RTW's third portfolio IPO and 12th liquidity event so far in 2026.
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Man Group expands its strategic partnership with Japan's Meiji Yasuda Life Insurance Co, which intends to increase its capital commitment to Man Group's investment strategies to JPY200 billion, approximately USD1.25 billion, over the next three years, with a focus on private credit. The companies will also jointly develop investment products for the Japanese market, while Man Group will become a preferred asset management partner. Meiji Yasuda is considering acquiring an equity stake of around 5.0% in Man Group through open-market purchases, with no new shares issued. Any share acquisition will be subject to a three-year lock-up and a standstill restriction limiting Meiji Yasuda's holding to just under 20% of Man Group's issued share capital. Financial terms of the arrangement are not disclosed.
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OTHER COMPANIES
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Restore appoints Ian Melling as chief financial officer and director, effective January 11, 2027, succeeding Dan Baker, who is set to become chief executive officer on January 1. Melling joins from Victrex PLC, where he served as CFO from 2022 until July 2026. He previously held senior finance roles at Smith & Nephew PLC between 2006 and 2022, including a stint as interim CFO in 2020.
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Big Technologies says it has received the particulars of a claim from former CEO Sara Murray in a defamation lawsuit relating to allegations of forgery made by the electronic monitoring company in September 2025. Murray is seeking damages for libel and other relief. The forgery allegations also form part of Big Technologies' proposed expanded case in separate Commercial Court proceedings involving Murray and others. Big Technologies says it robustly disputes the defamation claim and is preparing its response.
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Hutchmed China reports positive results from its global phase III Safron trial, showing that its lung cancer treatment Orpathys, combined with AstraZeneca PLC's Tagrisso, reduces the risk of disease progression or death by 45% compared with chemotherapy in patients with EGFR-mutated non-small cell lung cancer. The combination also reduces the risk of death by 32%, extending median overall survival to 17.8 months from 12.9 months with chemotherapy. Median progression-free survival improves to 7.6 months from 5.4 months. The results, presented at the European Society for Medical Oncology Congress in Madrid, are simultaneously published in the New England Journal of Medicine.
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Safestay says year-to-date trading remains below board expectations following a weaker-than-anticipated summer, despite recent improvements. The hostel operator warns of continued liquidity pressures during the quieter winter months and is exploring further property disposals and a review of financing arrangements to strengthen its financial position. Bank borrowings fall to GBP9.1 million as at October 23 from GBP13.6 million at June 30, following property sales in Glasgow and Holland Park. Safestay is also reviewing operating costs and plans to relocate its head office to its Elephant & Castle hostel in November to generate savings, while continuing refurbishment work across its portfolio.
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By Eva Castanedo, Alliance News senior economics reporter
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Related Shares:
VictrexSmith & NephewAstrazenecaSafestayHutchmedBig TechnologiesRestoreManRtw Biotech3i InfrastructurePlus500GlaxosmithklineComputacenterRenishawIG