19th Sep 2025 07:47
(Alliance News) - Vodafone and IG Group announce acquisitions in Romania and Australia, respectively, while Spire Healthcare reports it is considering its options, including a possible sale of the company.
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 9.4 points 0.1% at 9,237.51
GBP: lower at USD1.3508 (USD1.3556 at previous London equities close)
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ECONOMICS
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UK retail sales rose at a faster pace than expected in August, numbers from the Office for National Statistics showed Friday, while public sector borrowing for last month hit a five-year high. The ONS said retail sales volumes perked up 0.5% in August from July. They had risen 0.5% in July from June, a growth rate downwardly revised from 0.6%. The latest figures were expected to show a 0.4% monthly rise for August, according to FXStreet, so the data beat expectations. On-year, retail sales rose 0.7% in August, beating the FXStreet cited forecast of a 0.6% rise.
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Separate data showed UK government net borrowing rose to GBP17.96 billion, from GBP2.82 billion in July. It was up on-year from GBP14.24 billion and is the loftiest August borrowing figure for five years.
The latest figure was ahead of FXStreet's cited consensus, which expected a net borrowing figure of GBP12.5 billion. "Borrowing in the financial year to August 2025 was GBP83.8 billion; this was GBP16.2 billion more than in the same five-month period of 2024 and the second-highest April to August borrowing since monthly records began in 1993, after that of 2020," the ONS added. "The current budget – borrowing to fund day-to-day public sector activities – was GBP13.6 billion in August 2025; this brings the total current budget deficit in the financial year to August 2025 to GBP62.0 billion, which is GBP13.8 billion more than in the same five-month period of 2024." The ONS added: "Public sector net debt excluding public sector banks was provisionally estimated at 96.4% of gross domestic product at the end of August 2025; this was 0.5 percentage points more than at the end of August 2024 and remains at levels last seen in the early 1960s."
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BROKER RATINGS
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Goldman Sachs reinitiates Rolls-Royce with 'buy' - price target 1,290 pence
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COMPANIES - FTSE 100
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Vodafone Group announces a EUR30 million deal to acquire telecommunications assets in Romania. Vodafone, alongside Digi Romania, have entered into a binding deal with Hellenic Telecommunications Organization to buy separate parts of OTE's subsidiary, Telekom Romania Mobile Communications. "Vodafone will acquire TKRM and its post-paid customer base for EUR30 million (before standard closing adjustments), while Digi has agreed to acquire its pre-paid customer business. Both companies will also gain additional spectrum and towers as part of the transaction," Vodafone adds. Vodafone Chief Executive Margherita Della Valle says the deal "strengthens our position in Romania".
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COMPANIES - FTSE 250
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IG Group says it has acquired a cryptocurrency exchange in a deal valued at AUD178.0 million, around GBP86.8 million. The buy of Australia-based Independent Reserve "accelerates IG's entry into cryptocurrency markets in the Asia Pacific region", the trading platform provider says. "It complements the strategic progress we have made to enhance our crypto offerings organically in the UK and US. The deal follows an extensive assessment of the cryptocurrency exchange sector and aligns with IG's acquisition framework which evaluates opportunities based on strategic alignment, deliverability and financial returns," IG adds. The deal has an enterprise value of AUD178.0 million. IG will fork out AUD109.6 million initially for a 70% stake. An additional AUD15.0 million is contingent on performance, taking the full sum for the 70% stake to AUD124.6 million. IG has a call option for the 30% stake, with the valuation based performance in 2027 and 2028.
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Spire Healthcare Group says it is reviewing options for the business, including a possible sale. The private healthcare provider says it is working with lead financial adviser Rothschild & Co. "This process is highly preliminary and no decision has been made regarding whether any such option will be pursued at this stage," Spire adds. The process has a "range of potential options" and these include a possible sale of the company. "There can be no certainty either that any offer will be made for the company nor as to the terms of any offer, if made. The company is not in receipt of any approaches and is not in discussions with any parties in respect of a potential sale of the company at the time of this announcement."
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OTHER COMPANIES
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Futura Medical warns annual revenue will be "materially below expectations", with a US patent milestone payment now set to fall in 2026. The sexual health products provider also adds that it is mulling a way to extend its cash runway and plans a "significant restructuring". Cash and cash equivalents stood at GBP2.7 million at the end of August 2025, and this is expected to provide it with working capital until January. Futura adds: "In view of the reduced operating cash flow outlined above, the ongoing review of the business has been broadened to consider a range of potential options to create shareholder value including but not limited to alternative partnering/licensing and distribution arrangements for Eroxon alongside Eroxon Intense and WSD4000. This may include the sale of one or more assets of the business. The board continue to believe that there is value in the group's assets and therefore development plans for both Eroxon Intense and WSD4000 continue to progress." Futura expects 2025 revenue between GBP1.3 million and GBP1.4 million, "materially below expectations". It puts market expectations at GBP5 million. Sales of erectile dysfunction treatment Eroxon have been slower than originally anticipated. "Alongside this sales trend, under the terms of the company's agreement with Haleon, a payment of USD2.5 million is due upon the granting of a US patent for Eroxon that meets the contractual definition of a valid patent claim. All filings have been made and it had been anticipated that this milestone would be achieved in FY 2025, with the payment forming a portion of overall revenue in FY 2025 however it is now expected to crystalise in H1 2026," Futura adds.
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Henry Boot says it has been picked to help develop a "pioneering aviation innovation campus" in the UK. The property developer has been appointed by Imperial War Museums and Gonville & Caius College, a constituent college of the University of Cambridge, as a partner for the Duxford Av Tech development. Duxford Av Tech will be located 8 miles south of Cambridge city centre. The project has a gross development value of GBP162 million, Henry Boot says.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Rolls-RoyceHenry BootFutura MedicalSpire HealthcareIGVodafone