4th Sep 2025 07:54
(Alliance News) - London's FTSE 100 is set to open higher on Thursday, as gold continues to extend its rally and ahead of US labour market data in the afternoon.
In early corporate news, Currys launches a new share buyback programme for up to GBP50 million and Metals Exploration reports a more than 70% decline in first-half profit.
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 0.1% at 9,184.59
GBP: down at USD1.3431 (USD1.3448 at previous London equities close)
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BROKER RATINGS
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HSBC cuts Entain to 'hold' - price target 917 pence
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Morgan Stanley starts Tate & Lyle with 'equal-weight'
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RBC raises everplay price target to 455 (405) pence - 'outperform'
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COMPANIES - FTSE 250
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Currys says like-for-like revenue in the UK & Ireland is up 3% on-year for the 17 weeks that ended August 30, boosted by strong sales in gaming, AI computing, large appliances, coffee machines and cooling products. Like-for-like Nordics revenue rises 2% amid "success" in new categories such as robotic lawnmowers and vacuums. The electronics retailer says trading in the first four months of the financial year is in line with expectations, and it remains "comfortable" with a company-compiled market consensus for adjusted pretax profit of GBP170 million for financial 2026. This would be up 4.9% from GBP162 million the year before. Currys also launches a new share buyback for up to GBP50 million, beginning immediately and expected to run no later than April 30, 2026. Cash returns to shareholders this year will total around GBP75 million, Currys says.
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Genus reports pretax profit of GBP28.5 million for the year that ended June 30, jumping from GBP5.5 million the year before. Revenue grows 0.6% to GBP672.8 million from GBP668.8 million, while net exceptional items reduce to GBP27.3 million from GBP36.0 million a year earlier. Genus declares a total dividend of 32.0 pence per share, unchanged on-year. "Genus achieved a strong performance in FY25 as we executed our strategic priorities. PIC's growth was broad-based and the business won significant new royalty customers in China. ABS profitability was substantially improved, primarily through VAP initiatives," says Chief Executive Officer Jorgen Kokke. "In addition, we secured the landmark US FDA approval for our PRP gene edit and this tremendous achievement is testament to our teams and partners who have been working on the PRP programme for over a decade. We look forward to FY26 with increasing confidence and will continue to focus on executing our strategic priorities." Looking ahead, Genus expects adjusted pretax profit for financial 2026 in line with a company-compiled consensus between GBP76.1 million to GBP86.0 million. This would be up 16% at best from GBP74.3 million in financial 2025. Genus also announces the accelerated formation of a Chinese porcine joint venture with Beijing Capital Agribusiness Co, under which Genus will receive an accelerated milestone payment of USD7.5 million plus a USD160 million gross cash payment. In return, BCA will acquire 51% of Genus subsidiary PIC China, which is expected to complete in financial 2026. PIC China will then acquire 100% of BCA's Future Bio-Tech business, which is also expected to complete in 2026.
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OTHER COMPANIES
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Metals Exploration posts USD16.8 million in pretax profit for the six months that ended June 30, falling 71% from USD58.4 million a year earlier. This is driven largely by impairment gains reducing to USD4.9 million from USD49.7 million the year before, and by USD18.8 million in other expenses during six-month period, against USD701,849 the year before. Revenue, on the other hand, rises 31% to USD118.9 million from USD91.1 million. Total mined slips 1.7% to 5.9 million tonnes from 6.0 million tonnes the year prior. Gold sold totals 41,240 ounces, down from 41,589 on-year, while the gold price soars to USD2,884 an ounce from USD2,190 an ounce. "The first half of 2025 was a hugely successful period in which we achieved record free cashflow and strong revenues from our operations at Runruno and continued to execute our strategy of becoming a multi-project company following the completion of the acquisition of Condor Gold targeting first production at the La India gold project by Q4 2026," says Chief Executive Officer Darren Bowden. The firm reaches record positive free cash flow of USD70.7 million in the first half, against USD46.4 million on-year.
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Partners Group Private Equity will become a constituent of the FTSE 250 index from the market close on September 19. The firm says it intends to carry out a competitive audit tender process during 2026, aiming to announce its results within the 2026 annual report. "Inclusion in the FTSE 250 will mark an important milestone for PGPE," says Chair Peter McKellar. "We anticipate it leading to enhanced liquidity and marketability of the shares, complementing the board's initiatives, working alongside the investment manager and our advisers, focused on delivering enhanced shareholder value through delivering strong [net asset value] performance and narrowing the discount to NAV."
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By Emily Parsons, Alliance News reporter
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EntainTate & LyleEverplay GroupGenusCurrysPartners Grp EMetals Exploration