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. Full year outlook upgraded off strong momentum at discoverIE
discoverIE LON:DSCV, the manufacturer of customised electronics, announced a H1 trading update this morning. Organic sales were up 8% whilst the order book increased noticeably, up 30% at constant exchange rates. With that momentum being sustained into the second half, adjusted full year earnings are now set to come in ahead of expectations. Interims will be published on 2nd December.
2. Softcat sees strong growth, expansion set to continue momentum
IT infrastructure provider Softcat LON:SCT released its full year numbers this morning with invoiced income up 30%, gross profit 25% higher and shareholders seeing a 6% uptick in the final dividend. Despite the tough comparatives of the last two years, management believe the momentum can be sustained, not least given recent acquisitions.
3. Internal change sees Robert Walters post revenue growth, market still challenging
Recruiter Robert Walters LON:RWA is the latest in the sector to publish numbers, with its Q3 trading update out today. Fee growth is up 1% with recruitment outsourcing being the driver here. Notably, the UK is the best preforming territory although management note that it’s internal change driving momentum here, rather than a material improvement in the global macroeconomic situation.
Full year results are however set to be at least in line with expectations, which are for an operating loss of £8.3m. Cash reserves of £13m were noted at the end of September.
In case you missed it
We start with Oxford Instruments. Is the FTSE 250 business finally turning its AI infrastructure exposure into hard numbers following a rise in order intake of almost 44% in the first half? We take a look at whether it is in a position to capitalise on the AI boom.
In other equities news, Roundhouse AI has made its AIM debut, raising £1.6m as it builds data and reputation tools for AI agents. And this week’s broker tips include a new Buy from Berenberg on Domino’s Pizza and a downgrade to Hold for Pennon.
And finally, if you think art collecting is a game for older investors, think again. Gen Z collectors are now spending more than twice as much on fine art as older generations, according to the latest Art Basel and UBS survey.
Look out for full-year results from Softcat and a first-quarter assets update from Ashmore Group in the company diary today.
The AIM All Share made a reasonable start to the session but stumbled after the US market open with Wall Street tech stocks finding themselves under pressure. At the close the junior index was down just over four points at 770.83.
- Roundhouse AI +40%
- Microsalt +22%
- YouGov +14%
- EnergyPathways -21%
- Ethernity Networks -16%
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Tony Cross
Tony Cross is a market commentator with over 25 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross’s commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun.
This article does not constitute investment advice. Please do your own research or consult a professional advisor.
