20th Apr 2026 07:56
(Alliance News) - Plus500 expects 2026 earnings to beat current expectations, Advanced Medical Solutions and Evoke separately confirm takeover talks and Auction Technology says its long-standing chief executive officer will step down soon.
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 0.4% at 10,624.13
GBP: lower at USD1.3498 (USD1.3556 at previous London equities close)
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BROKER RATINGS
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Keefe, Bruyette & Woods cuts NatWest to 'market perform' - price target 650 pence
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JPMorgan places Kerry on 'positive catalyst watch'
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COMPANIES - FTSE 100
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GSK says the Chinese medicine regulator approves Blenrep for the treatment of adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy. The pharmaceutical firm says the National Medical Products Administration of China approves the drug after priority review of the application with a breakthrough therapy designation. GSK says the approval is based on data from the Dreamm-7 phase three trial. "Today's approval of Blenrep brings anti-BCMA therapy to patients in China with relapsed or refractory multiple myeloma in 2L+, introducing a differentiated mechanism of action with the potential to help slow disease progression and extend survival," says Hesham Abdullah, global head oncology research & development at GSK.
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COMPANIES - FTSE 250
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Kainos expects to report revenue ahead of consensus for the financial year to the end of March 2026, with adjusted pretax profit in line with forecasts. The London-based Workday partner and provider of IT services puts the consensus revenue range between GBP392.1 million and GBP411.1 million, with adjusted pretax profit between GBP65.6 million and GBP70.0 million. For financial 2025, Kainos reported revenue of GBP367.2 million and adjusted pretax profit of GBP65.6 million. The firm says its Workday Products division achieved annual recurring revenue of more than GBP89 million at the end of the year, and it is on track to meet its GBP100 million goal during the 2026 calendar year. It is targeting GBP200 million by 2030. Kainos says it is "optimistic" about the future "given our strong momentum across digital transformation and our Workday businesses". It expects margin improvement in the second half of financial 2027 as the use of contractors reduces. "While the macroeconomic environment remains volatile, Kainos operates in markets driven by clear structural trends, and we remain confident of delivering on our strategy," Kainos adds.
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Plus500 says revenue and earnings before interest, tax, depreciation and amortisation for 2026 to beat current market expectations. It puts the consensus forecasts at revenue of USD779.3 million and Ebitda of USD360.4 million. "The group delivered an excellent performance in the quarter, with strong growth across key financial and operational metrics, underpinned by our proprietary technology and highly efficient, scalable customer acquisition capabilities," says Chief Executive Officer David Zruia. The Haifa, Israel-based trading platform operator says revenue in the first quarter of the year jumps 18% to USD242.1 million from USD205.8 million a year ago. First-quarter Ebitda rises to USD95.7 million from USD93.8 million.
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OTHER COMPANIES
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Auction Technology confirms its outlook for the financial year to September 2026 and says long-standing Chief Executive Officer John-Paul Savant will stand down after a "short orderly handover period". The London-based auction market operator says it is at an advanced stage of its process to appoint a successor to Savant, who has spent more than ten years as CEO. The company adds that a further announcement will be made in due course. Auction Technology confirms its financial year guidance of revenue growth between 4% and 5% on a pro forma constant currency basis, with an adjusted earnings before interest, tax, depreciation and amortisation margin between 34.5% and 35.5%. It adds that revenue growth will be more weighted to the first half. The company expects to report revenue of USD125 million for the first half of the year. It expects first-half pro forma constant currency revenue growth to be close to 8%. Auction Technology adds that first-half adjusted Ebitda was in line with expectations. "We continue to focus on our strategy for extending our leading position in the curated second-hand goods market. ATG has delivered good trading and pro forma growth in H1 26 and I'm particularly pleased to report our progress on driving [arts & antiques gross merchandise value] which has been a focus area," says CEO Savant.
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Advanced Medical Solutions confirms it is in discussions with US private equity firm TA Associates Management LP regarding a possible takeover offer. On Saturday, Sky News reported that the Boston, Massachusetts-based private equity firm is preparing a formal offer for the Cheshire, England-based surgical dressings company worth around 280 pence per share, or GBP600 million in total. AMS says there can be no certainty that a firm offer will be made, nor as to the terms on which it might be made. TA Associates is required to announce a firm intention to make an offer or that it does not intend to make an offer by May 16.
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Evoke confirms discussions with casino operator Bally's Intralot SA regarding a possible takeover offer at 50 pence per share. The possible offer is at a 32% premium to the closing price of 37.90p on Friday. The betting operator and owner of the William Hill and 888 brands says it expects the proposal to comprise an all-share combination with a partial cash alternative. It notes that there can be no certainty an offer will be made, or as to the terms of any offer. Bally's has until May 18 to announce a firm intention to make an offer, or that it does not intend to make an offer. The Sunday Times reported that Bally's has been informally granted preferred bidder status. Back in December, Evoke kicked off a strategic review, which could include a sale of the company, after the UK government budget which the gambling firm warned would lift yearly duty costs by up to GBP135 million. At the time, Evoke said the review will look into a "range of potential alternatives to maximise shareholder value". This included a sale of the whole group, or some assets.
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By Michael Hennessey, Alliance News reporter
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Related Shares:
NatwestGlaxosmithklineKainos GroupPlus500Auction Technology GroupAdvanced Medical Solutions GroupEvoke Plc