4th Sep 2026 07:46
(Alliance News) - Ferrexpo says it has raised some USD100 million, including backing from a prominent Ukrainian businessman, while Victoria says it is assessing "any opportunities" that may stem from the administration of Headlam.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called down 0.1% at 10,824.42
GBP: higher at USD1.3543 (USD1.3536 at previous London equities close)
----------
ECONOMICS
----------
German factory orders were stronger than expected in July, according to a reading from Destatis. Destatis says new orders in manufacturing rose 2.5% in July from June, beating an FXStreet-cited forecast of a 0.3% climb. In June, they rose 3.7% from May. Year-on-year, new orders jumped 13% in July, picking up speed after a 7.2% advance in June.
----------
BROKER RATINGS
----------
Goldman Sachs raises Vodafone to 'buy' (sell) - price target 155 (85) pence
----------
OTHER COMPANIES
----------
Ferrexpo says it has raised around USD100 million from a placing and subscription, to fund ongoing operations. The iron ore producer in Ukraine says the placing and subscription comprised 448.8 million shares, at an issue price of 16.5 pence each, a 42% discount to its 28.6p closing on April 30, the day before trading of its stock was suspended in London. Ferrexpo says 269.3 million shares will be issued as part of the placing, while its largest shareholder, Fevamotinico, agrees to subscribe for 179.5 million shares. The placing includes a cornerstone commitment of USD50 million from Andriy Verevskyi, who will hold 224.4 million shares in Ferrexpo at the conclusion of the fundraise, a stake of around 35%. Announcing plans for the fundraise on Thursday, the firm said it believed it was needed "in order to support the working capital position of the group and fund ongoing operations." "The board believes the net proceeds of the fundraise will be sufficient to meet the group's immediate and short-term operational requirements while operating at a reduced level for the next 18 months and to continue as a going concern," it added. Interim Executive Chair Lucio Genovese says on Friday: "We are pleased to announce this important equity financing today which will provide the group with the strengthened balance sheet to restart production at our operations in Ukraine, upon completion of the fundraise. We welcome new international investors including a new cornerstone investor as a shareholder to our register and are grateful to our largest shareholder for its continued support as well." Verevskyi is a "prominent Ukrainian businessman", and he chairs Kernel Holding SA, an agricultural company and the largest producer and exporter of grains in Ukraine.
----------
Flooring firm Victoria says it "will assess any opportunities" that stem from London-listed Headlam entering administration. Headlam on Tuesday said it filed a notice of intention to appoint Will Wright, Chris Pole and Ryan Grant, all of Interpath, as joint administrators. "The board will assess any opportunities that may consequently arise as a result. Our UK business continues to perform strongly, and whilst Headlam is also a customer of the company's manufactured products, Victoria currently has no credit exposure to them," Victoria adds. Victoria adds that across its geographies, the operating backdrop "remains volatile". Further actions are being taken to mitigate energy, diesel and input price pressure. Executive Chair Geoff Wilding said: "Whilst the market environment continues to be challenging, the group has had an encouraging start to the year as a result of increased focus and management actions."
----------
Brewer and hospitality firm Adnams says trading within its managed pubs and hotels was below expectations in the first half of the year, though it has since seen a boost from a hot UK summer and the World Cup. Adnams says its pretax loss in the first half of 2026 narrowed to GBP1.4 million from GBP1.5 million a year prior. Revenue fell 8.8% to GBP27.4 million from GBP30.1 million. "Trading within our managed pubs and hotels was below expectations during the first half of the year, leading to the implementation of a series of operational, commercial and labour management initiatives. Complemented by an extended period of very favourable weather and the football World Cup, we have been encouraged by the early results," Adnams says. The firm adds that its managed estate saw 3.3% like-for-like revenue growth, as well as a 10% profit rise, over July. "Whilst it is still early, these improvements give us confidence that the actions being taken will support stronger performance through the second half of the year," it adds.
----------
Pri0r1ty Intelligence says it has acquired the operating assets and technology platform of Pirkx Ltd, from administrators BTG. The software-as-a-service company pays an initial cash sum of GBP50,000 for the assets, as well as a capped GBP350,000 royalty payment of 4% of revenue for a period of five years following the acquisition date. The royalty is payable quarterly. "The acquisition of Pirkx represents a pivotal step in our growth strategy. Pirkx built an incredible product proposition with thousands of active SME users, but like many growing platforms, it faced administrative and operational scale friction. By applying Pri0r1ty's proprietary AI automation stack-Vox, Advisor, and Compass ID-we believe we can eliminate cost inefficiencies, unlock the active pipeline, and turn Pirkx into a strong revenue-generating division," CEO Rory Maxwell says.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
VodafonePri0r1ty IntVictoriaHeadlamFerrexpo