Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. De La Rue agrees sale terms
Another name set to disappear from the London index is De La Rue LON:DLAR who this morning issued a statement saying they had agreed terms with a private equity bidder after several months of negotiations. A price of 130p per share has been agreed, which reflects a 19% premium to before the offer period commenced and indeed is 16% up on last night’s close.
One other line in the note worth flagging is the acquiring party believes that bringing De La Rue under private ownership will better position it for further investment, which is hardly a ringing endorsement of the London market.
2. Halfords profits at upper end of forecasts, CEO departs
Halfords LON:HFD issued a full year trading update this morning, noting a strong finish to the year with positive sales growth being reported against some tough comparatives. Underlying pre-tax profits are set to come in at the upper end of the previously guided range of £32-£37m, although as has been previously noted, wage changes will add £23m in costs for FY26. The CEO is also departing today with the chairman offering plaudits for the transformation he took the company through over the last seven years.
3. Momentum building at retailer B&M
Retailer B&M Europe LON:BME has issued a post close trading statement for the full year, noting that group EBITDA is set to come in above the mid-point of the previously offered guidance. Revenues were up 3.7% with positive sales in France offsetting weakness in the UK and Ireland, whilst momentum was also building in the final quarter. New store roll outs continue apace, and those opened in the last 12 months are reported as performing in line with expectations.
