The ongoing spat between Edinburgh Worldwide (EWI) and Saba Capital intensified after Glass Lewis backed the trust’s board. The independent advisor recommended EWI shareholders reject all Saba’s resolutions at the trust’s general meeting on 20 January. Investors – and anyone interested in investment trusts generally – can sign in to a live Q&A session with the EWI chair later today. Read the press release and find details of the Q&A here: https://www.bailliegifford.com/en/uk/individual-investors/funds/edinburgh-worldwide-investment-trust/Read related news: https://sharesify.com/saba-queries-edinburgh-worldwide-sale-of-spacex/

Mining groups Glencore (GLEN) and Rio Tinto (RIO) have revealed they are in talks about a potential merger of some or all of their businesses. There have even been discussions about an all-share £150 billion-plus merger of the two firms with Rio taking over Glencore. Overnight, Glencore’s US ADRs were up nearly 9% while in Australia this morning Rio shares traded nearly 7% lower. Glencore price: 448p +8.5%P/E: 16xMarket Cap: £52.6bnYield: 2% This is the second round of talks between the two firms in just over a year after Glencore approached Rio in 2024. As they both say, there is…

According to the latest report from the AIC (Association of Investment Companies), 2025 was a record year for takeovers and share buybacks in the investment trust sector. There was a ‘frenzy’ of corporate action with 27 mergers, acquisitions and liquidations, up from the previous record of 24 in 2024. In addition, share buybacks jumped 36% from £7.5 billion to £10.2 billion marking another record for the sector. Meanwhile, fundraising totalled £530 million led by trusts in the loans and bonds sub-sector. A good vintage The average investment trust return in 2025 was 12.1%, with Commodities & Natural Resources the best-performing…

Skin care specialist Beauty Tech Group (TBTG) has raised its 2025 profit guidance for the second time in two months sending its shares to a new high. The firm said trading through November and December had been strong with further growth across ‘all key markets and channels’. Therefore, revenue for 2025 will be no less than £136 million and EBITDA no less than £35.5 million compared with its previous guidance of £128 million and £32 million. Price: 301p +3.1%P/E: 42xMarket Cap: £330mYield: n/a Beauty Tech Group is not just a new listing but a new type of company in the…

Retailer Marks & Spencer (MKS) reported ‘solid’ Christmas sales thanks to strength in its Food business which offset a weaker performance in Fashion, Home & Beauty. Food sales rose 6.6% to £2.72 billion, in addition to which Ocado Retail – which M&S owns 50/50 with Ocado Group (OCDO) – posted sales of £843 million. In contrast, Fashion, Home & Beauty revenue dipped 2.5% to £1.27 billion due to clearance sales to make way for new season lines. Chief executive Stuart Machin insists the business is ‘laser focused’ on future growth with more innovation in Food and better quality and value…

Shares in grocery giant Tesco (TSCO) fell 5% after its Christmas trading update disappointed investors. UK sales were up 3.9% on a like-for-like basis in the third quarter to 22 November, below the 4.1% expected by the market. Moreover, growth slowed to 3.3% in the six weeks to 3 January, in contrast to earlier till roll data which suggested sales rose 4.3% in the 12 weeks to Christmas, ahead of the 3.8% market average. The wholesale arm Booker also missed forecasts with a 0.9% fall in sales for the period to 22 November against expectations of a 1.2% increase, and…

Food-to-go purveyor Greggs (GRG) posted a positive fourth quarter trading update and confirmed its profit guidance. Total sales for the quarter were up 7.4%, bringing full-year sales up 6.8% to £2.15 billion, meaning the firm continued to take share in a challenging market despite talk of ‘peak Greggs’. There were 121 net new store openings, and the plan is to open a further 120 in 2026 bringing to total to just over 2,850 sites. Full year profit for 2025 is seen roughly flat on 2024, which is in line with the company’s previous guidance. Price: £17.31 -2.4%P/E: 12.2xMarket Cap: £1.74bnYield:…

Conglomerate Associated British Foods (ABF) posted a disappointing Christmas trading statement and warned profits would be down this year. The food business had a ‘mixed’ – which is code for poor – first quarter with grocery and ingredients sales down and the firm taking a ‘cautious’ full year outlook. Primark also had a ‘challenging’ quarter with sales growth of just 3%, below expectations, in ‘a difficult clothing market, particularly over Christmas’. As a result, group sales are expected to be flat this year while operating profit and adjusted earnings per share will be down on last year. Price: £19.20 -10.7%P/E:…

Nick Train, lead manager of Finsbury Growth & Income (FGT), has increased his stake in the investment trust to 4.9%. The move comes just ahead of this month’s crucial continuation vote. Train bought 25,000 shares at an average price of 824p, taking his holding to 5.785 million shares. According to the AIC (Association of Investment Companies), the trust’s NAV per share as of 6 January was 874.91p. Must do better The latest factsheet shows that in the 11 months to November 2025, FGT’s NAV declined 7.5%. Meanwhile, its share price declined 6.8% compared to a 6% gain for the FTSE…

Consumer health and hygiene giant Reckitt Benckiser (RKT) has published details of a special dividend and share consolidation. The firm is returning £1.6 billion of ‘excess capital’ from the sale of its Essential Home portfolio to private equity firm Advent International. Investors will receive a special dividend of 235p per share, while the firm will reduce the number of shares in circulation by 4% through a 24 for 25 consolidation. Price: £60.38 -0.4%P/E: 17.7xMarket Cap: £40.75bnYield: 3.5% Not new news as such, as the sale of Essential Home was announced back in July 2025 and the size of the special…