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. Dowlais ups full year guidance
Dowlais Group [LON:DWL], the automotive engineering company, this morning published a trading update noting that 2025 performance was running ahead of previous guidance. Full year adjusted revenue, operating profit margin and free cash flow are all expected to come in higher than had been forecast, reflecting the impact of global footprint restructuring initiatives, commercial recoveries from prior volume losses and other ongoing performance improvement actions.
2. Cost control balances books at Marshalls but no quick improvement seen
The manufacturer of sustainable solutions for the built environment Marshalls LON:MSLH issued a full year trading update this morning, with 2025 results forecast to land in line with expectations. That’s despite the weakness seen from end users but cost control measures have acted as a benefit here, too. Whilst management are cautious that any marked change will be seen in FY26, they lean on the cost management side, but how much more operational efficiency can be squeezed out of the company?
3. ATG management reject latest FitzWalter bid approach
The takeover bid story for Auction Technology Group LON:ATG continues, with shareholder FitzWalter Capital coming back again on Friday to offer 400p per share – up from the 360p at the start of the year – and ATG’s management once again rebutting the offer. The story is the same – it fundamentally undervalues the business – but the suitor flags longer term underperformance of the business. The latest offer is close on a 50% premium to where the stock was trading before the news was made public on 2nd January.
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