23rd Feb 2026 07:46
(Alliance News) - JD Sports says it will launch a GBP200 million buyback, Mony reported earnings and Johnson Matthey has slashed the price of a unit sale to Honeywell.
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 0.2% at 10,671.29
GBP: higher at USD1.3524 (USD1.3492 at previous London equities close)
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ECONOMICS
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The number of job vacancies in the UK has fallen to a five-year low, approaching levels not seen since the pandemic, research suggests. The number of vacancies fell by 3% last month to 694,000, continuing a downward trend seen throughout late 2025, according to jobs site Adzuna. The study indicated that it was the first time advertised vacancies had dropped below 700,000 since January 2021. Vacancies were down by 16% compared with January 2025, and by 19% since six months ago, said the report. Adzuna said the figures highlighted how sharply job opportunities have contracted since mid-2025, reinforcing the difficult conditions facing jobseekers amid a high cost of living, increased national insurance costs and the rising use of AI.
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BROKER RATINGS
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Goldman Sachs cuts Rio Tinto to 'neutral' - price target 7,400 pence
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JPMorgan places Quilter on 'positive catalyst watch'
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COMPANIES - FTSE 100
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JD Sports Fashion says it will launch a GBP200 million share buyback programme, underlining "its commitment to continue delivering significant cash returns to shareholders". The athleisure and sporting goods retailer says the programme kicks off with a GBP100 million tranche, beginning immediately. This portion of the buyback runs until July 31. "Thereafter, the company intends to enter into arrangements to commence the second tranche of the programme in the sum of up to GBP100 million," JD Sports says.
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COMPANIES - FTSE 250
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Price comparison website operator Mony Group has announced a GBP25 million share buyback, as it reports improved annual results despite "significant headwinds" in the car insurance sector. The Ewloe, Wales-based firm operates the MoneySuperMarket and TravelSuperMarket comparison sites. It says pretax profit in 2025 climbed 1.7% to GBP110.5 million from GBP108.7 million, with revenue rising at the same pace to GBP446.3 million from GBP439.2 million. It represents a record revenue outcome, Mony says. Adjusted earnings before interest, tax, depreciation and amortisation climbed 2.3% to a highest-ever GBP145.1 million, it adds. Mony labels it a "resilient financial performance despite significant headwinds in car insurance". "Revenue growth was driven by good performance in Money, fuelled by banking and borrowing activity, alongside a return to growth in energy revenue, as customers took advantage of several compelling deals. In Insurance, we saw an easing of the headwinds in car insurance during second half of the year and strong performance in life insurance, supported by enhancements to the customer journey. Cashback and Travel continued to face challenges from weak consumer confidence," the firm says. Mony says it upped its final dividend by 1.1% to 9.30 pence per share from 9.20p, giving it a total dividend of 12.63p, up 1.0% from 12.50p. In addition, it announces a further GBP25 million share buyback, "underlining our confidence as we head into 2026". It adds: "Our recent trading performance coupled with momentum in our strategic execution gives the board confidence that we will deliver Adjusted Ebitda for 2026 in line with our current published consensus range." It puts consensus at GBP146 million, with a range of GBP142 million to GBP153 million.
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Speciality chemicals and sustainable technologies company Johnson Matthey says the price of the sale of its Catalyst Technologies business to Honeywell has been reduced amid a "challenging market environment". The unit will now be sold to Honeywell for an enterprise value of GBP1.33 billion, cut from GBP1.80 billion. As a result, Johnson Matthey now expects to return around GBP1.00 billion to shareholders, down from the previously reported GBP1.4 billion. Johnson Matthey and industrial conglomerate Honeywell have extended the long stop date for the deal to July 21, from February 21. "In the event that the only remaining antitrust approval condition is not satisfied by the long stop date, the long stop date may be further extended to 21st August 2026, if certain conditions are met. JM and Honeywell expect to complete the transaction by the end of August 2026," Johnson Matthey says. It adds: "In agreeing to extend the long stop date, JM and Honeywell have also agreed to amend the financial terms of the transaction to reflect CT's business performance during 2025/26, which includes the deferral of key sustainable solutions licensing projects and reduced profitability from the supply of catalysts due to the challenging market environment." Johnson Matthey says it has made "good progress" on implementing its new business model and says it is on track for performance in line with guidance for the year ending March 31. "This includes group underlying operating profit growth at the higher end of a mid single digit percentage range, and positive free cash flow that is materially higher than last year," it adds.
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OTHER COMPANIES
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Flooring company Victoria says it expects annual profit below consensus, after enduring tough trading conditions in the first half of last month. For the financial year that concludes in late March, Victoria expects to report post-IFRS16 earnings before interest, tax, depreciation and amortisation of around GBP95 million, compared to consensus of GBP110.7 million. In financial 2025, its underlying Ebitda, on a post-IFRS16 basis, was GBP113.7 million. Victoria says trading in the first half of January was hurt by "weak consumer confidence and weak footfall at our end customers due to geopolitical events across our key markets". "Whilst recent weeks have shown improvements in trading, the board now expects Q4 revenue to be below its previous expectations and approximately 5% below FY25," it says. In the third quarter, revenue fell 3%, the pace of decline easing from 7% in the first half. It adds: "Management's immediate focus remains on delivering EBITDA improvement initiatives within our control. The first sales from the new V4 ceramics line in Spain are being delivered in Q4, which will drive growth and improved Ebitda in our Spanish ceramics business through FY27 and beyond. The relocation of rugs manufacturing from Belgium to Turkey also continues to progress in line with expectations, albeit shipping disruptions have been greater than anticipated. The first stages of integrating our UK Underlay businesses and Australian businesses announced at the HY results are also expected to be completed before the end of March."The currently disclosed Ebitda improvement initiatives remain on track, and further Ebitda improvements have been identified across the divisions and will be quantified as part of the ongoing budget process," it says.
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Acquisition vehicle Kelso Group Holdings says it has upped its stake in retailer TheWorks.co.uk, believing it to be "one of the most undervalued companies on the UK stock market". Kelso lifted its holding in the seller of arts and crafts, stationery, toys, and books to 7.0% from 6.6%. It now owns 4.4 million TheWorks shares, purchased at an average of 33.2 pence each, just under GBP1.5 million in total. At current prices, the stake is worth just over GBP1.5 million. Kelso says the TheWorks is trading at an enterprise value to earnings before interest, tax, depreciation, and amortisation of 1.65x. "Kelso has written to the board of The Works this morning outlining several constructive proposals aimed at closing this clear valuation gap," Kelso adds.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Rio TintoQuilterJD SportsMoneysupermarket.ComJohnson MattheyVictoriaKelso Grp HldgTheworks.co.uk.