The firm has a six-month target price of 2,394 pence on the stock, implying 22.1% upside from Monday’s close.

Analyst Abhishek Raval said second-quarter sales and core operating profit came in about 2% and 6% ahead of consensus, respectively.

Sales reached £8.4bn, up around 5% at constant exchange rates, driven mainly by HIV, respiratory, immunology and inflammation, oncology and vaccines. Core earnings per share rose 9% to 50.5 pence, and management reaffirmed full-year guidance for sales, core operating profit and core EPS.

AlphaValue highlighted momentum in specialty medicines, with long-acting injectables Cabenuva and Apretude driving the HIV franchise, and said GSK expects ultra-long-acting treatments to “cushion the blow from the patent expirations of dolutegravir products” over 2028-30.

In respiratory, Nucala gained from its COPD indication, while the firm flagged oncology drugs Jemperli and Ojjaara as expanding “at an exciting pace.”

The firm highlighted CEO Luke Miels’ intent, noting three major acquisitions in 2026 and a new cost savings plan targeting £1.9bn annually from 2029. AlphaValue said his background at Roche and AstraZeneca “should come in more than handy here.”

Still, the firm cautioned that GSK “doesn’t have the pipeline strength of the likes of AstraZeneca” to absorb multiple late-stage setbacks, referencing the recent failure of chronic cough candidate Camlipixant. Shares rose 3.5% on Tuesday, closing at 2,029p.

The post GSK Shares: Analyst Stays Bullish After Q2 Beat and New CEO’s “Aggressive Intent” appeared first on AskTraders.com.

With the index having gained in three of the last four sessions, attention now turns to whether Wednesday’s session can finally deliver a fresh record close.

Why the FTSE got so close on Tuesday

Tuesday’s advance was powered by a blistering earnings-driven rally in consumer stocks. Unilever surged 8.58%—its best one-day performance in four years—after the consumer goods giant upgraded its annual guidance and reported its strongest quarterly volume growth in more than a decade. Man Group shares touched their highest level since 2010 on stronger-than-expected assets under management, while thread maker Coats jumped 9.6% to lead the FTSE 250.

Not every sector shared in the gains. Energy stocks slid 1.43% as oil prices eased on hopes of a resolution to the US-Iran conflict, while banks fell 1.37%; Barclays dropped 4.79% even after beating profit expectations, suggesting investors had already priced in robust results from UK lenders. That the index still pushed higher despite drags from two heavyweight sectors underlines how strong the earnings-led buying in consumer names has been.

The index has now climbed in three of the last four sessions, building on Monday’s move above 10,800—its highest level since the February record—as markets shrugged off the spring’s sharp pullback triggered by US-Iran tensions and the accompanying oil-price shock.

What could tip it over the record on Wednesday

Clearing the 10,910.55 mark would require only a modest further advance of around 0.3%, well within a single session’s typical range for the index—but several cross-currents will decide whether buyers get there.

• The Federal Reserve. The FOMC’s rate decision lands on Wednesday, with markets split on whether Chair Kevin Warsh’s committee holds steady or delivers a surprise given the recent oil-driven inflation scare. A dovish tone or a clear signal that policymakers see the oil spike as transitory would likely support risk appetite globally, including London. A hawkish surprise, or any suggestion rates could rise further, risks reigniting the kind of volatility that hit equities in the spring.
• The Bank of England. The BoE’s own policy decision this week (Thursday) is squarely in view after Tuesday’s comments from Pantheon Macroeconomics suggesting the MPC will likely hold rates for an extended period, with the rate path “depending heavily on the oil shock.” Any dovish shift in tone—or a benign inflation read—could extend the domestic buying that has driven the index over the past week.
• More earnings momentum. Tuesday’s rally showed how sensitive the FTSE 100 is right now to standout corporate results. With UK companies continuing to report through the week and US megacaps including Microsoft, Meta, Apple and Amazon also due, strong numbers—or another Unilever-style upgrade—could provide the final push, while a disappointment from a heavyweight constituent could just as easily cap the advance.
• Oil and the banks/energy drag. Energy and banking stocks were the biggest brakes on Tuesday’s gains. A further easing in oil prices, if the US-Iran de-escalation continues, would remove some of that drag on energy majors, though it also softens the sector’s earnings outlook. Conversely, a bounce in banking shares—which have lagged despite generally solid results—could add fresh support if sentiment around the sector improves.
• Broader risk appetite. Wall Street’s mixed tone this week, with chip stocks under pressure after South Korea’s Kospi tumbled sharply on semiconductor selling, is a reminder that global sentiment can move quickly. A calm session in the US and Asia would make it easier for the FTSE to hold its gains into the close.

Taken together, Wednesday’s session looks finely balanced: the technical path to a new record is short, but the outcome will likely hinge on how central banks and big-name earnings land through the day. A break above 10,910.55 would mark London’s first fresh closing high in exactly five months.

The post FTSE 100 Within a Whisker of Record High — Here’s What Could Push It Over the Top on Wednesday appeared first on AskTraders.com.

The stock fell continuously through the session from a previous close of 1066p to an intraday low of 751p, a drop of 29.55%. That low sits below the bottom of its 52-week range of 956p to 1488.24p.

In an update published earlier today, AB Dynamics cut its FY2026 revenue guidance from continuing operations to £90m-£95m for the year ending 31 August, citing Middle East-linked disruption to automotive development programmes and slower customer order conversion, turning inquiries into confirmed orders. The company also confirmed it will exit VadoTech, its Chinese on-road vehicle testing subsidiary, terminating the contract during the first half of FY2027. VadoTech will now be treated as a discontinued operation, cutting reported FY2026 revenue by about £4m.

The scale of the retreat stands out against FY2025 group revenue of £114.7m, and follows a first-half net loss of £12.2m reported for the six months to February, a reversal from a year-earlier profit. VadoTech generated £10.5m of revenue in restated FY2025 figures while dragging adjusted operating profit down by around £1.0m, explaining why the group is walking away from it. AB Dynamics said customer confidence weakened in the second half, with logistics problems particularly affecting European carmakers amid potential restructuring. The company maintains net cash of £41.7m and is still targeting a 20% adjusted operating margin.

The reaction reflects how a guidance cut at a company with concentrated automotive-supplier revenue can turn into a violent one-day repricing on AIM, where trading liquidity is thinner than on the main market.

Shares had already been trading below both their 50-day and 200-day moving averages before today’s update, having spent months under pressure ahead of the guidance cut.

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The stock last traded at 50.9p, up 15.68% from Monday’s close of 44p, having touched an intraday high of 53p. That put PCI-Pal back towards the middle of its 52-week range of 42p to 60p, having drifted from around 51p in April to 44p by yesterday.

The move followed a trading update for the year to 30 June, published this morning, in which PCI-Pal said revenue is expected to come in at around £24.6m, ahead of the £23.7m consensus, with adjusted EBITDA, earnings before interest, tax, depreciation and amortisation, of about £1.1m against a forecast £0.85m. Annual recurring revenue rose 27% to £24.4m and committed annual recurring revenue climbed 24% to £27.5m, with the company pointing to strong momentum in its US enterprise business and partner channel.

Revenue growth of 9% year-on-year, against £22.5m in FY25, understates the underlying trend once currency effects are stripped out, at closer to 14%. Gross revenue retention, the share of recurring revenue kept from existing customers, improved to 96% from 95%, helped by resecuring two of its largest clients on new multi-year contracts. Adjusted EBITDA nonetheless fell from FY25’s £2.3m, reflecting continued investment in growth. The company remained debt-free with £4.0m of cash at year-end, up from £3.8m.

Chief executive James Barham said: “PCI Pal has had an excellent year, with new business momentum continuing to build as the period progressed.” He also pointed to particularly strong momentum in the US market, growing enterprise demand and top-quartile customer retention as the group enters FY27.

Barham has framed the year’s step-up in spending on partnerships, marketing and product development as part of a three-year investment plan, with today’s numbers offered as evidence that the strategy is delivering rather than a one-off beat.

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The selloff was triggered by a broad, global rout in semiconductor and memory stocks. Overnight, South Korea’s Kospi index collapsed nearly 11%, with memory giants Samsung Electronics and SK Hynix tumbling 13% and 15%, respectively, while Japan’s Nikkei fell about 4% on an 18% plunge in memory maker Kioxia. That weakness spilled directly into U.S. trading, dragging down Micron, SanDisk, and Western Digital.

Several catalysts converged to spook investors. Chief among them is intensifying competition from China: ChangXin Memory Technologies (CXMT) surged roughly 466% in its Shanghai IPO debut this week, reaching a market value near $488 billion and stoking fears of memory oversupply and price erosion, even though CXMT’s commodity-DRAM focus leaves it well behind Micron in high-bandwidth memory (HBM), the AI-critical product Micron dominates.

Compounding the anxiety, reports surfaced that a Chinese company is developing domestic deep ultraviolet (DUV) lithography equipment, raising fears Beijing could accelerate chip-equipment self-sufficiency. Meanwhile, Nvidia’s reported plans for up to $750 billion in financing tied to OpenAI and SK Hynix reignited “circular financing” concerns about the durability of AI infrastructure spending.

Despite the carnage, Micron’s underlying business remains strong: fiscal Q3 revenue hit $41.5 billion, with Q4 guidance of $50 billion. Shares had rallied over 650% over the past year before this correction, meaning even after Tuesday’s drop, Micron remains far above where it started the AI memory boom. Investors are now awaiting hyperscaler earnings from Microsoft, Meta, Amazon, and Apple this week for further signals on AI capital spending.

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The Uxbridge-based group reported revenue of $837 million for the six months to June, up 19% year-on-year on a reported basis, though organic growth was a more modest 1% as it navigated soft conditions across several end markets.

Crucially, Coats continued to outperform its core apparel and footwear markets, which contracted by mid-single digits during the period, gaining market share through product innovation and strong customer relationships.

Adjusted operating profit came in at $166 million, with the group holding its adjusted EBIT margin steady at 19.8% despite higher investment in growth initiatives, thanks to disciplined cost control and procurement efficiencies.

Adjusted earnings per share dipped 6% to $0.04, reflecting increased spending on technology and long-term expansion, including newer ventures such as composite energy tapes and digital solutions.

Management struck a confident tone on the outlook, targeting a further $15 million of cost savings in the second half, including synergies from the OrthoLite acquisition, while flagging strong free cash flow generation in support of its five-year goal of $1 billion in cumulative free cash flow.

The rally came amid a broader positive session for UK equities, with the FTSE 250 up 0.5% and the FTSE 100 gaining 0.9%, buoyed also by upbeat results from Unilever and Croda, even as Barclays shares slipped despite beating profit forecasts.

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The stock touched an intraday high of 3,784p, with shares last trading around 3,764p, up from Monday’s close of 3,590p.

Citi also lifted its price target sharply, to 4,243p from 3,277p, and placed Admiral on a “positive catalyst watch” ahead of the company’s interim results, due August 6.

Analyst James Shuck drew a colourful parallel to describe the shift in UK motor insurance pricing, invoking Admiral co-founder Henry Engelhardt’s old description of the market as a “frog boiling slowly” — a gradual, rather than dramatic, deterioration (or in this case, improvement) in conditions.

Citi argues something similar is playing out now, but in Admiral’s favour.

According to the note, Admiral has been “drip-feeding” small, inflation-adjusted premium increases since early 2026, with the cumulative benefit expected to build through the second half of the year.

Citi believes real rate increases — premiums adjusted for claims inflation — will continue to compound, strengthening margins and earnings, with Admiral “leading the way” among UK motor insurers.

Crucially, Citi now expects Admiral’s earnings per share for 2027 and 2028 to come in 15–17% above current market consensus, suggesting analysts have been too conservative in modelling the insurer’s pricing power.

The upgrade sets up Admiral’s upcoming interim results as a key test of whether the improving pricing trend is translating into tangible earnings upside, with investors now watching closely for confirmation.

The post Admiral Group Shares Jump as Citi Upgrades to “Buy” appeared first on AskTraders.com.

The shares traded as high as 2,096p in early trade, up from Monday’s close of 1,961p, a move of over 6%.

Core operating profit rose 7% at constant exchange rates to £2.8bn in the quarter, while core earnings per share climbed 9% to 50.5p, well ahead of analyst expectations of around 47.1p. Alongside the core results, GSK unveiled a three-year “Accelerate Growth” programme targeting £1.9bn of annual savings by 2029, at a cost of £2.4bn, explicitly to fund reinvestment in its late-stage drug pipeline. A separate announcement the same morning confirmed a new £400m, 300,000 sq ft flagship R&D centre on the Cambridge Biomedical Campus, replacing the Stevenage site and relocating more than 1,000 scientists.

The beat was driven by Specialty Medicines, where sales rose 14% to £3.78bn, and Vaccines, up 8% to £2.28bn, while General Medicines sales fell 9% to £2.34bn. Miels said the savings programme would help “simplify the organisation and reallocate capital and resources” to fund the pipeline as GSK heads into the 2028 to 2030 window when patents on its HIV drug dolutegravir begin to lapse. GSK still guided full-year core EPS growth to the lower half of its 7-9% range, a caveat on how far today’s re-rating can run.

GSK declared a second-quarter dividend of 17p, with 70p expected for the full year, and confirmed it had completed its previously announced £2bn share buyback in the quarter.

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Shares traded at 3,017p in early dealing, up 3.15% from Monday’s close of 2,925p, having earlier touched 3,059p. That places the stock in the upper half of its 52-week range of 2,330.89p to 3,242.45p, though still below its 12-month high.

Croda’s results for the six months to 30 June showed group sales up 2.9% to £880.5m, while adjusted operating profit rose a faster 6.7% organically to £155.8m, lifting the adjusted operating margin to 17.7% from 17.2% a year earlier. Chief executive Steve Foots said the company had delivered a good first-half performance in line with expectations, with strong growth in Consumer Care, adding that group profits continued to grow ahead of sales, reflecting both customer demand for innovation and the benefits of its transformation programme.

The improvement was driven almost entirely by Consumer Care, where sales grew 8.3% organically to £523.7m and adjusted operating profit jumped 14.3% to £98.1m, powered by a 19% surge in the Beauty Actives unit. Life Sciences sales were flat, and Industrial Specialties sales fell 1.9%, underlining how narrowly the profit growth was concentrated in beauty ingredients. Free cash flow rose 36.8% to £38.3m, helped by lower capital spending, while net debt held broadly steady at £577.9m, keeping leverage at 1.4 times cash profit, within the group’s 1-2 times target.

Despite the stronger profit performance, management kept full-year guidance unchanged, still targeting 3-6% organic sales growth and a further rise in margin, and held the interim dividend flat at 48.0p as it works to restore dividend cover and reduce the proportion of profit paid out. Foots said the outlook for the full year was unchanged despite ongoing macro uncertainty, and that the group remained on track to deliver its 2028 financial framework.

The share reaction suggests traders are focusing on the profit growth and margin progress rather than the flat dividend or steady guidance, reading the results as early evidence that Croda’s turnaround plan is showing through in the numbers, even as management signals it is prioritising balance-sheet repair over faster shareholder returns for now.

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Shares traded at 311.8p by mid-morning, up 3.93% from yesterday’s close of 300.0p, having touched an intraday high of 327.2p, above the 52-week high of 310.6p. The stock had already rallied from around 245.6p in late April.

Man Group’s half-year results, covering the six months to 30 June, showed assets under management reaching a record $253.6bn, up 11% from $227.6bn at the end of December, driven by $19.8bn of positive investment performance and $7.1bn of net inflows. Chief executive Robyn Grew said the firm recorded net inflows across all four of its product categories. Core performance fees, the extra fees earned when funds beat agreed targets, more than tripled year-on-year to $207m.

Core net revenue rose to $853m, with net management fees up 21% year-on-year to $627m. Core profit before tax climbed to $297m, a 35% margin within management’s guided 30-40% range. The board declared an interim dividend of $0.057 per share, a third of the total paid for 2025, and returned $114m to shareholders in the first half via dividends and a $50m buyback launched in May.

Chief financial officer Antoine Forterre said the company had accrued roughly $290m of performance fees as of 24 July that were still to crystallise, or be finally confirmed and paid out, in the second half, “though the ultimate amount would fluctuate.” That points to a further catalyst still to come rather than a one-off boost already banked.

The rally builds on a run that had already taken the shares to near 52-week highs before results, so some of today’s good news was arguably priced in even before the numbers landed.

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SSP Group (LON:SSPG), shares traded at 199.3p, up 2.47% from Monday’s close of 194.5p, having touched an intraday high of 200.8p. That places the stock closer to the top of its 52-week range of 133.96p to 208.44p.

In its Q3 trading update, released via RNS earlier today, SSP said group like-for-like sales grew 4% year-on-year, and management explicitly reiterated that the group remains on track to deliver full-year expectations. The UK & Ireland business, SSP’s core market, was the standout performer, with like-for-like sales up 11% and total sales up 8%, supported by positive seasonal trading and a strengthened customer proposition.

That UK strength offset a marked slowdown in the APAC & EEME region – SSP’s grouping for Asia Pacific and Eastern Europe/Middle East markets – where like-for-like sales fell 2%, a 10 percentage point deceleration from the previous quarter. The drag came from Gulf markets, which account for around 2% of group annual sales but traded at approximately 65% of prior-year levels through the quarter, as the Middle East conflict hit passenger numbers at the airports where SSP operates.

Despite that regional divergence, SSP’s guidance language pointed to confidence in the full-year outlook, which includes earnings per share of 13.6p to 14.8p after the ongoing share buyback. The company has completed £76m of its £100m buyback programme, launched in October 2025, a sign it continues returning cash to shareholders even as one region underperforms.

SSP is due to report full-year results for the year ending 30 September 2026 on 8 December, when investors will get a clearer picture of whether the Gulf disruption has persisted into the final quarter or begun to ease.

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Gains are modest across the continent too, with Germany’s DAX up 0.1%, France’s CAC 40 rising 0.3% and the Euro Stoxx 50 adding 0.2%.

The oil sell-off has extended as hopes of Middle East de-escalation build, with the pause in U.S.-Iran strikes now in its third day.

Therefore, Brent crude has fallen a further 3.2% to $83.15 a barrel, with WTI down 3% to $80.12. Meanwhile, spot gold has eased 0.8% to $4,045 an ounce, with silver down 1.4% to $57.57.

Unilever (LON: ULVR) leads the FTSE 100, up 6.1%, after upgrading its full-year outlook on the back of a strong first half…

Underlying sales grew 4.8%, accelerating to 5.8% in the second quarter, led by 5.5% volume growth, with management now guiding to sales growth within its 4%–6% range. Its Foods combination with McCormick is progressing, with a London secondary listing confirmed.

Meanwhile, Croda (LON: CRDA) has risen 3.1% on its half-year results, and Admiral (LON: ADM) has added 3%.

Barclays (LON: BARC) tops the fallers, down 5.4%, in a case of strong numbers undone by high expectations. Second-quarter income rose 16% to £8.3 billion and pre-tax profit jumped 31% to £3.3 billion, beating forecasts,

Games Workshop (LON: GAW) has dropped 3.1% on its full-year results, while Lion Finance (LON: BGEO) has lost 2.7% so far in the session.

Elsewhere, SSP Group (LON: SSPG) issued a third-quarter update, Frasers Group (LON: FRAS) confirmed a condition was satisfied on its Hugo Boss stake offer, and Unite Group (LON: UTG) reported its interim results.

In the FTSE 250, Man Group (LON: EMG) rose 5.3% on its half-year results, GlobalData (LON: DATA) also gained 5.3% and Coats (LON: COA) added 4.8% on its half-year report.

Ceres Power (LON: CWR) has declined 5.06%, Pacific Horizon (LON: PHI) has lost 4.9% and Jupiter (LON: JUP) is down 3.9%.

There’s no major news on the economic calendar today. However, PayPal, Boeing and UPS will report earnings before the open, while names including Visa and KLA Corporation will post quarterly updates after the close.

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