Private equity firm Castlelake confirmed it had proposed a £4.7 billion or 625p per share offer for easyJet (LON:EZJ). However, despite the implied premium, shares in the low-cost carrier failed to take off, gaining just a few percent. Substantial premium Castlelake, backed by US investor Brookfield Asset Management (NYSE:BAM), has now made three offers for the airline. As with its previous proposals, pitched at 560p and 600p, the board rejected the latest approach without engaging further. The 625p offer represents a 59% premium to the close on 28 April, the day before Castlelake’s interest became public. It also represents the…

After the England football team got off to a good start, investors might already be dreaming of a place in the final. With that in mind, and hope in our hearts, we’ve made a ‘squad’ of potential World Cup stock market winners. Starting with the obvious, pubs, bars and drinks companies should benefit. The longer England (and Scotland) stay in, obviously, the better for business. As drinking on an empty stomach isn’t advisable, grocery sellers and wholesalers should also see an uplift. For those watching at home, take-away meals and food delivery might be part of the World Cup experience.…

Investors face another busy 22-26 June week of corporate updates, with results from AI chipmaker Micron Technology (NASDAQ:MU), UK housebuilder Berkeley (LON:BKG) and cars/bikes retailer Halfords (LON:HFD) among the highlights. Micron’s quarterly earnings on Wednesday are expected to be the week’s most closely watched event after recent optimism surrounding artificial intelligence infrastructure spending. Investors will be looking for evidence that demand for high-bandwidth memory (HBM), DRAM and NAND remains strong, alongside guidance that could influence sentiment across the global semiconductor sector. How crazy could the memory chip shortage become – and what does it mean for UK investors? Back in…

Shares in PPHE Hotel Group (LON:PPH) dropped 10% after the company revealed bidder Fattal had withdrawn its indicative offer. Fattal had proposed an all-cash offer at £22 per share, a 36% premium, which the PPHE board considered ‘fair value’. Farewell Fattal In November 2025, PPHE announced it was beginning a strategic review ‘to maximise value for all shareholders’. The move was prompted by the group’s two biggest investors looking to monetise their combined 44% stake. Following the Fattal offer last month, an independent committee consulted with shareholders representing 83% of PPHE’s capital. Euro Plaza Holdings, which owns 33% of the…

Hotel and restaurant operator Whitbread (LON:WTB) confirmed its FY outlook after what it called a ‘strong’ Q1 performance. The group also stuck to its new five-year ambition to reduce overheads and increase free cash flow. Positive trading For the 13 weeks to end-May, Whitbread posted a 2% increase in group sales. The firm said trading was positive in Premier Inn UK and Germany, while restaurant sales declined as expected. UK accomodation sales rose 3%, while RevPAR (revenue per available room) rose 2%, outperforming the midscale and economy market. London accomodation sales and RevPAR were up 7% and 4% respectively. Food…

Shares in UK grocery chain Tesco (LON:TESCO) dropped after the firm posted Q1 underlying sales growth which missed analysts’ expectations. However, the firm reiterated its FY operating profit and free cash flow targets, lending some support to the stock. Hoping for sunshine For the 13 weeks to 30 May, Tesco posted UK LFL sales growth of 1.8%, below the 2.7% Bloomberg consensus. Growth was also below that of the previous quarter, when sales rose 3.1%, although that period included Christmas. The firm pinned the slowdown on an ‘exceptionally strong prior-year period supported by record-breaking weather and competitor disruption’. Food sales…

Some years ago, a landmark study by Professor Hendrick Bessembinder found a small minority of US shares generated the bulk of long term returns above those generated by short-term Treasury bills. That finding has informed large asset managers like Baillie Gifford and has also influenced many private investors. A recent study of the UK market reveals the same story. While shares overall have generated higher long-term real returns than UK Treasury bills, all of the outperformance has come from just a handful of stocks. The study finds that between January 1975 and December 2024, all of the ‘excess wealth’ was…

Investment trust Personal Assets (LON:PNL) has revealed it shifted around 10% of its portfolio into short-dated JGBs (Japanese government bonds) last year. The move, a first for the company, adds exposure to the Yen, which is ‘the cheapest it has been for four decades’ according to the managers. ‘Winning by not losing’ The trust, which aims to protect and grow shareholders’ capital over time, says holding Yen will provide diversification. It should also provide a buffer if the US dollar weakens or stock markets become more risk averse. Elsewhere, the trust reduced its gold position from 14% to 10% in…

Shares in investment and wealth management firm Rathbones (RAT) tumbled to a 12-month low following an FCA review. The group said it would voluntarily halt onboarding of higher-risk clients for a year and warned of a hit to earnings. Hit to earnings The FCA review identified areas of improvement within the group’s UK wealth management business regarding ‘the implementation and embedding of Consumer Duty’. The firm acknowledged the review also identified ‘certain aspects of its compliance, oversight and assurance arrangements’. Rathbones said it would address the review’s recommendations with a slate of changes over a two-year period. For a period…

AIM-listed sustainable building products firm Accsys Technologies (LON:AXS) reported strong FY26 results with growth across the board. The company also confirmed it was on track to meet ts FY27 financial targets. ‘Disciplined execution’ For the year to March, Accsys posted a 12% increase in group revenue to €153 million and a 26% increase in underlying EBITDA to €21.1 million. Including joint ventures, sales rose 24% to €183 million while JVs added €0.1 million of EBITDA. Group sales volumes increased 6% to 60,384 cubic metres while JV volumes jumped 149% to 16,853 cubic metres. Accsys has a 60% shareholding in Accoya…