9th Feb 2026 08:01
(Alliance News) - NatWest unveils a GBP2.7 billion takeover of Evelyn Partners alongside a new GBP750 million buyback, as Centrica completes over GBP80 million of asset sales and Vodafone's African subsidiary Vodacom secures additional spectrum in Egypt.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called up 0.3% at 10,406.75
GBP: slightly lower at USD1.3603 (USD1.3612 at previous London equities close)
----------
BROKER RATINGS
----------
Deutsche Bank Research cuts Unilever to 'hold' (buy) - price target 5,150 pence
----------
Jefferies raises Dunelm group to 'buy' (hold) - price target 1,075 pence
----------
Jefferies cuts Greggs to 'hold' (buy) - price target 1,610 (2,500) pence
----------
COMPANIES - FTSE 100
----------
NatWest confirms a GBP2.7 billion deal to buy wealth manager Evelyn Partners, following earlier press reports, and launches a new GBP750 million share buyback. NatWest says the acquisition from Permira & Warburg Pincus will create the UK's "leading" private banking and wealth-management business. Evelyn Partners brings GBP69 billion in assets under management and administration, taking the combined total to GBP127 billion. The lender says the transaction accelerates its strategy by broadening fee income and increasing exposure to a high-growth, capital-light segment. It expects around GBP100 million in annual cost synergies and says the deal will be accretive to growth and returns in its first year of ownership. NatWest will fund the purchase from existing resources, noting the acquisition is expected to reduce its common equity tier 1 ratio by around 130 basis points. The bank says today's GBP750 million buyback is followed by another expected to be announced at its half-year 2027 results.
----------
Vodafone's African subsidiary, Vodacom Group, says that Vodafone Egypt secures new spectrum under a government-led multi-year investment programme, with payments spread over four years. Vodafone Egypt acquires 2 x 10MHz of 1,800MHz spectrum, part of the first phase of a wider programme run by Egypt's Ministry of Communications & Information Technology and the National Telecommunications Regulatory Authority. The spectrum is worth around USD350 million, with payments made annually starting with USD100 million in financial 2026. Vodafone says the additional capacity will enhance data connectivity and support rising demand for high-quality mobile services. The next phase of the programme, running from financial 2028 to financial 2023, will include the release of 3,500MHz spectrum and the renewal of 2,600MHz licences. Following the purchase, Vodafone Egypt's 1,800MHz holding doubles to 2 x 20MHz, while all other spectrum bands remain unchanged.
----------
Centrica completes a series of divestments, selling its energy solutions businesses in Italy and the Netherlands to Joulz, a portfolio company of 3i Infrastructure, and disposing of its Hungarian unit through a management buyout. The Windsor, England-based energy provider and owner of British Gas also finalises the sale of Panoramic Power, taking total proceeds to more than GBP80 million. Centrica says the transactions align with its strategy to focus resources on core growth and innovation priorities, while recycling capital from non-core assets into new investment opportunities. Chief Executive Officer Chris O'Shea says: "These transactions reflect a strategic decision to focus our resources on Centrica Business's core growth and innovation priorities which will better position the business to pursue new opportunities and accelerate growth in key markets."
----------
COMPANIES - FTSE 250
----------
Plus500 says it starts 2026 with "significant" momentum and now expects 2026 full-year earnings to come in ahead of current market expectations, after delivering a slight rise in annual revenue and profit. The Haifa, Israel-based trading platform provider posts 2025 pretax profit of USD338.9 million, edging up from USD337.2 million a year prior, while revenue increases to USD792.4 million from USD768.3 million. Trading income rises to USD729.6 million from USD711.6 million, while interest income increases to USD62.8 million from USD56.7 million. Ebitda edges up to USD348.1 million from USD342.3 million. The company highlights stronger activity across both its OTC and non-OTC businesses, with non-OTC revenue surpassing USD100 million for the first time. Plus500 says momentum has continued into the new financial year, supported by active markets, new product launches such as prediction markets, and the completion of its Mehta Equities acquisition in India. The group reiterates confidence in its diversified growth strategy and robust balance sheet, noting substantial shareholder returns of USD187.5 million announced on Monday, comprising dividends of USD87.5 million and share buybacks of USD100 million. The board says it remains confident in the group's outlook and expects 2026 results to come in ahead of current market expectations, with analysts forecasting USD749.3 million in revenue and USD348.4 million in Ebitda for the year.
----------
OTHER COMPANIES
----------
Warpaint London acquires the Barry M brand for GBP1.4 million and sees revenue edging up in 2025 but lower Ebitda. The Buckinghamshire, England-based colour cosmetics supplier and owner of W7 and Technic brands buys the Barry M intellectual property, stock and order book out of administration for GBP1.4 million, funded from existing cash of GBP18 million at January 31. Barry M generated GBP15 million in revenue in the year to February 2025. Warpaint London expects 2025 revenue of GBP105 million, up from GBP102 million in 2024, including GBP12 million from Brand Architekts. Adjusted Ebitda is guided at GBP22 million, down from GBP25 million, reflecting the closure of key customer Bodycare with an impact of GBP3 million, a softer consumer backdrop and business lost as a result of US tariff uncertainty, which the company quantifies in GBP2 million.
----------
Phoenix Copper suspends its executive chair and chief financial officer with immediate effect as the board launches an investigation into their conduct and historic payments made to former adviser Lloyd Edwards-Jones SAS. The company says Marcus Edwards-Jones and Richard Wilkins are suspended while advisers probe the allegations. Phoenix Copper puts interim financial oversight in place and seeks an interim CFO, outsourcing the company secretary role during the review. Phoenix Copper says it has limited working capital but expects to have enough cash until early in the second quarter of 2026. It is considering a range of short- and longer-term funding options. Talks with Riverfort over a short-term loan facility are ongoing.
----------
YouGov announces that longtime Chief Financial Officer Alex McIntosh steps down with immediate effect after 19 years at the company. McIntosh, who has served eight years on the board, will remain during his notice period to ensure an orderly transition. YouGov appoints James Davies as interim CFO from February 12. Davies, an ACA-qualified accountant with more than 25 years' experience and prior CFO roles at OVO Energy and Monzo Bank, joins the senior steering team but not the board. Chair Deborah Davis thanks McIntosh for his "significant contributions", while CEO Stephan Shakespeare praises his role in transforming YouGov into a global data and research group.
----------
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
3i InfrastructureCentricaVodafoneNatwestPlus500Warpaint LondonPhoenix Copper LimitedYouGovGreggsDunelmUnilever