Richard Shepherd-Cross, manager of Custodian Property Income (LON: CREI), says ‘all the lights are green’ for the investment trust. The FY26 10% NAV total return, the highest since FY22, was driven by rental growth, higher valuations and higher occupancy. The trust, which invests in smaller regional UK properties with strong income potential, saw a 26% increase in IFRS pre-tax profit to £48.3 million. IFRS EPS (earnings per share) rose 20% to 10.4p, while EPRA EPS rose 3.3% to 6.3p resulting in a fully-covered dividend. Like-for-like rents rose 3.4% with just under a third of properties enjoying new lettings, lease renewals…

Global analytics, technology and safety group Halma (LON:HLMA) posted better-than-expected FY26 results and sounded upbeat about FY27. However, given the strong performance of the shares year-to-date, the shares succumbed to a bout of profit-taking. Record results For the year to March 2026, revenue rose 15% to £2.58 billion, topping market forecasts. Meanwhile, adjusted EBIT (earnings before interest and tax) rose 22% to £595 million, also ahead of forecasts. On an underlying basis excluding one-offs, revenue rose 14% and EBIT rose 20%. The increase in EBIT for FY26 marks 23 years of unbroken growth, despite repeated ructions to the global economy.…

With the Strait of Hormuz still more or less shut to traffic, oil and gas prices remain at elevated levels. Brent crude oil futures continue to trade around $90 per barrel compared with $60 at the start of the year. As Ecofin Redwheel fund manager Michel Sznajer describes it, Hormuz could be ‘the new Fukushima’. ‘Explosive price volatility, fuel rationing and demand-based restrictions evoke the systemic vulnerability felt after Fukushima’, says Sznajer. Even if the Strait reopened tomorrow, it would take a long time for normal service to resume. Moreover, energy prices will still carry a ‘Hormuz premium’ according to…

AIM-listed games developer and publisher Frontier Developments (LON:FDEV) posted record adjusted operating profit for FY26. The firm also said it expected FY27 to start positively and was confident in delivering results in line with expectations. Jurassic-sized profits For the year to end-May, Frontier registered a 16% increase in revenue to £104.8 million, the second-highest level in its history. CEO Jo Cooke put the firm’s success down to the popularity of its CMS (creative management simulation) games. Almost 90% of FY26 sales came from CMS games including Jurassic World Evolution 3, alongside continued revenue contributions from the Planet Coaster and Planet…

In the latest special edition of the podcast, we’re joined by George Ferguson IV, Senior Aerospace & Defence analyst at Bloomberg Intelligence. George talks us through the recent surge in interest among European investors for defence stocks, plus the upcoming SpaceX IPO. We discuss the potential for SpaceX’s ‘lift’ or launch business, as well as the value inherent in the Starlink business. With much of the long-term value of the company pinned on xAI, we also discuss how reliable analysts’ forecasts are likely to be. Finally, when it comes to the issue of automatic inclusion in the major US indices,…

Trading updates from housebuilders Bellway (LON:BWY) and MJ Gleeson (LON:GLE) did little to dispel the gloom surrounding the sector. Bellway maintained its guidance but saw a fall in reservations and its forward order book while Gleeson lowered its FY outlook. ‘Uncertain’ outlook Newcastle upon Tyne-based Bellway said it had performed ‘robustly’ year to date and confirmed its FY26 operating profit target. However, it noted the market had become ‘increasingly challenging with customer demand having moderated in recent weeks’. Moreover, while it is on track for the year to end-July, the firm cautioned the outlook beyond that was ‘uncertain’. Geopolitical tensions…

Shares in AIM-listed podcast provider Audioboom (LON:BOOM) sank 14% despite the firm promising record H1 results. Instead, investors were dismayed the firm had ended its strategic review despite receiving three indicative offers for the business at a premium. ‘Read the room’ For the six months to the end of June, Audioboom said it expects to report record results. Revenue is seen rising nearly 30% to $45 million while adjusted EBITDA is seen rising at least 66% to a minimum of $3 million. The firm said the positive trading it experienced in Q1 and which it reported on in April had…

The latest UK index review by FTSE Russell, part of LSE Group (LON:LSEG), means a major shake-up of the FTSE 250. While the large-cap FTSE 100 sees three changes, the mid-cap index faces nine changes. Winners and losers New additions to the FTSE 100 are Aberdeen Group (LON:ABDN), Computacenter (LON:CCC) and Investec (INVP). The three stocks have gained 16%, 48% and 12% respectively this year. Making way for the new entrants are Berkeley Group (LON:BKG), Mondi (LON:MNDI) and Rightmove (LON:RMV). These three stocks have lost 11%, 18% and 16% respectively so far this year. The FTSE 100 joiners have effectively…

European gaming and lottery firm Bally’s Intralot confirmed it had reached an agreed £243 million takeover of Evoke (LON:EVOK). The offer values the UK company at 52p per share, 77% above its response to media chat regarding a potential takeover. Game over Intralot is offering Evoke investors 0.537 new Intralot shares with a value of €1.12 each, equivalent to 52p. It is also offering a cash alternative although this will be capped at £117 million or 48% of the deal by value. The combination will create ‘a global gaming and lottery champion with scaled pan-European B2C’, according to the press…

Investors head into a busy stretch of the earnings season in the week of 8–12 June, with a select but influential group of companies from both London and New York markets set to report. While the calendar is lighter than peak reporting periods, results from a mix of technology, consumer, and industrial names will offer important insight into global demand trends, margins, and the outlook for the second half of the year. In the US, Oracle (NYSE:ORCL) will be the standout release, drawing close attention to cloud infrastructure growth, AI-related demand, and enterprise spending resilience. Alongside Oracle, updates from companies…