5th Jun 2026 07:52
(Alliance News) - UK house prices edge lower in May amid Middle East-related uncertainty, while Evoke agrees to a GBP243 million takeover by Bally's Intralot and Bodycote says it is no longer in an offer period after Apollo Global Management confirms it will not make a bid.
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 0.2% at 10,382.02
GBP: marginally lower at USD1.3433 (USD1.3436 at previous London equities close)
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ECONOMICS
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UK house prices edge down in May, with the average property value falling 0.1% month-on-month to GBP298,806 from GBP299,251 in April, according to Halifax. Annual house price growth accelerates slightly to 0.5% from 0.4%, marking the first increase in the yearly rate since January. Halifax says uncertainty linked to developments in the Middle East, combined with higher inflation expectations, continues to weigh on affordability and buyer confidence, keeping borrowing costs above levels seen at the start of the year despite recent mortgage rate cuts. However, market activity remains relatively resilient. Mortgage approvals for house purchases rise 3.1% in April to 65,945, the highest level since January 2025 and 9.0% above a year earlier, while residential property transactions fall 3.0% month-on-month but remain around 1.0% higher on a quarterly basis. Regionally, Northern Ireland records the strongest annual house price growth at 7.8%, followed by Scotland at 3.8%, while prices fall 2.1% in the South East and 1.5% in London.
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BROKER RATINGS
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BofA raises SSE price target to 2,660 (2,420) pence - 'buy'
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Goldman Sachs raises Antofagasta price target to 4,600 (3,900) pence - 'buy'
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Jefferies raises CMC Markets to 'buy' (hold) - price target 500 (275) pence
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COMPANIES - FTSE 250
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Bodycote says it is no longer in an offer period after Apollo Global Management confirmed it does not intend to make a takeover offer for the Macclesfield, England-based thermal processing firm. Apollo says it continues to hold Bodycote and its management team in "high regard" and appreciates the discussions held with the board regarding its earlier proposal. Bodycote responds that it has "strong confidence" in its strategy, growth prospects and ability to create a high-performing and resilient business. The company adds that trading has started positively in 2026 and that it continues to make progress on its initiatives.
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Raspberry Pi Holdings says profitability in the six months ending June 30 is materially ahead of the prior year, supported by sales of more than 4 million units, a favourable product mix and the use of lower-cost DRAM inventory accumulated in 2025. The Cambridge, England-based manufacturer of low-cost computers expects adjusted Ebitda of at least USD38 million for the first half and now forecasts full-year Ebitda will be significantly ahead of current market expectations of USD42.0 million. Raspberry Pi says demand remains robust despite DRAM-related price increases, although unit economics are expected to moderate in the second half as lower-cost memory inventory is depleted. The company says it will focus on gaining market share and strengthening customer relationships in the second half while securing inventory to meet its 2026 production goals.
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OTHER COMPANIES
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Evoke agrees to a GBP243.1 million takeover by Bally's Intralot SA, with shareholders set to receive 0.537 new Intralot shares for each Evoke share, valuing the Gibraltar-based owner of sports betting and gambling platforms William Hill and 888 at 52p per share. Shareholders can instead elect for a 52p-per-share cash alternative, subject to a GBP117.1 million cap. The Evoke board unanimously recommends the offer, which follows a strategic review launched in December after the UK government's Budget increased duties on online sports betting and casino gaming, with Evoke warning the measures could add GBP125 million to GBP135 million to its annual tax bill. Intralot made five proposals during the review, beginning with an indicative 32p-per-share approach. Shares received under the offer will be listed on Euronext Athens, while the bidder has already secured irrevocable undertakings and letters of intent covering 29.07% of Evoke's issued share capital.
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Resolute Mining says second-quarter production at its Syama gold mine in Mali will be lower than planned, at around 30,000 ounces, down from its previous expectation of 40,000 to 45,000 ounces, due to logistical and supply chain disruptions caused by security challenges in the country. The West Africa-focused gold miner says delays to equipment deliveries and disruptions to explosives supplies have affected access to higher-grade ore. Resolute now expects full-year production at Syama to be at the lower end of its 195,000-210,000-ounce guidance range, though it continues to generate strong operating cash flow and expects performance to improve in the second half as conditions stabilise.
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BTG Consulting said it has acquired MVLOnline.co.uk, a specialist solvent liquidation website, to strengthen its digital offering to businesses. The Manchester, England-based company insolvency and restructuring and real estate advisory said the business will be integrated into its online platform and will complement its existing services for company directors and business owners. Founded in 2012, MVLOnline.co.uk provides fixed-fee members' voluntary liquidation services. The acquisition follows BTG's recent purchase of the business recovery and insolvency team of Lameys Accountants.
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By Eva Castanedo, Alliance News reporter
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Related Shares:
BodycoteEvoke PlcRaspberry PiResolute MiningBTGCMC MarketsAntofagastaSSE