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. JD Sports launches £100m share buyback
JD Sports Fashion LON:JD. has this morning announced the launch of a £100m share buyback. The shares which started the year around the £1 mark has sold off by as much as 40% by the start of the week amidst consumer confidence woes, compounded by what is increasingly looking to be tariff lunacy from the US. The winding back there may cut the business some further slack but clearly management see now as being a time to intervene themselves.
2. Tesco profits, dividend surge and £1.5bn buyback announced – but competitive factors hit outlook
Full year numbers are out from grocery giant Tesco LON:TSCO this morning with group sales up 3.5% but adjusted operating profits soaring by 10.6%, which will no doubt lead to renewed criticism of unfair treatment of shoppers. Shareholders will receive a dividend increase of an inflation busting 13% whilst also benefitting from a £1.45bn share buyback funded by free cashflow and the sale of banking operations. However, in acknowledging the increasingly competitive market backdrop, expectations are for FY26 adjusted operating profits to be 5%-15% lower.
3. National Grid on track in brief update
There’s a very short pre-close update out from National Grid LON:NG. this morning noting that the Group’s performance is in line with expectations, consistent with guidance provided at the publication of half year results. An investor event is due to be held this afternoon.
