Shares in Next (LON:NXT) rallied to an all-time high after the clothing retailer raised FY27 profit guidance again following a stronger-than-expected Q2. UK heatwaves and a Middle East sales recovery helped to drive the ‘beat’. However, Next maintained its H2 sales forecast with tougher overseas comparatives to come. Q2 sales beat For the 13 weeks to 1 August, full price sales were up 9.2% year-on-year. That was ‘materially ahead’ of the 4% growth Next had previously forecast. The FTSE 100 retailer attributed this over-performance to hot UK weather. Another driver was the release of pent-up demand in the Middle East and Northern Europe…

Despite the gloomy moody music that has prevailed in recent years, Europe remains one of the world’s wealthiest regions. And the continent is home to some of the globe’s strongest, most resilient companies. Europe remains vulnerable to energy price shocks, as the conflicts in Ukraine and the Middle East illustrate. And the threat from rising inflation hasn’t gone away. However, strong flows into European equities demonstrate a positive shift in overall investor sentiment towards the continent. Even after a period of strong performance, European equity valuations remain attractive. And the key drivers behind Europe’s resurgence have further to run. These…

Investment trust Seraphim Space (LON:SSIT) has deployed over £21 million of the £137 million raised through May’s bumper C share issue. The SpaceTech-focused fund has put more money to work with two existing portfolio companies, namely Pixxel and Zeno Power. The deployment demonstrates there is much more to Seraphim than its largest holding ICEYE, the high-flying Finnish satellite constellation operator. The world’s first listed SpaceTech fund, Seraphim Space is opening access to a multi-trillion-dollar opportunity in the global SpaceTech sector. Seraphim recently rocketed into the FTSE 250 Index, reflecting the company’s growth since its IPO and increasing institutional recognition of…

Shares in AG Barr (LON:BAG) plunged after the beverages producer warned supply constraints impacted Q2 sales. Despite this short-term blip, the IRN-BRU maker still delivered resilient H1 revenue growth of 8%. Reassuringly, the Rubicon-to-Boost brands owner maintained FY27 profit guidance. The FTSE 250 firm insisted recent supply constraints are now ‘being resolved’. Supply chain pain In an update covering the half ended 1 August, AG Barr explained that revenue was impacted by reduced stock availability as Q2 progressed. This mainly reflected internal supply chain issues. However, external issues associated with third party manufacturing were also a factor. The H1 revenue…

Sven Borho has stepped down as lead portfolio manager of Worldwide Healthcare Trust (LON:WWH) with immediate effect. Borho was a founder of the trust’s New York-based manager OrbiMed Capital. He has also been a named manager on the £1.35 billion cap fund since 2013. So how worried should investors be by his sharp exit? Bye bye Borho Sven Borho has been involved in the trust fund since its 1995 launch, although he did not become a named manager until 2013. He has been replaced by Trevor Polischuk, Worldwide Healthcare Trust’s co-manager since 2015. Geoff Hsu, lead manager of Biotech Growth Trust…

Shares in AstraZeneca (LON:AZN) slumped on reports the UK pharmaceutical giant has held merger talks with US-based rival Bristol Myers Squibb (NYSE:BMY). Should it come to pass, a combination would create one of the globe’s biggest pharmaceutical groups worth almost $400 billion. So why is the market cool on the idea? Well, investors and analysts questioned the strategic logic of this potential mega-merger, a deal that would be hugely expensive for AstraZeneca and bring integration risk. ‘Given the strength of AstraZeneca’s growth and innovation profile, we are a bit perplexed,’ said Jefferies. ‘Of course financial accretion can look good and…

In the latest episode of the Sharesify podcast, the team talk markets and Microsoft’s (NASDAQ:MSFT) historic one-day move. In addition, they explain why MIGO (LON:MIGO) wants a battery fund to put itself up for sale. Tech watcher Steven discusses the reasons behind the KOSPI’s eye-popping rebound. He also tell our audience why Microsoft’s Q4 results were exactly what AI investors had been waiting for. Our income guru Ian brings us up-to-speed with the latest updates from UK banks. And James lends us his view on two investment trust ‘Dividend Heroes’ which have lagged momentum-driven markets. Finally, the chaps preview next week’s…

Global investment trust Alliance Witan (LON:ALW) lagged the benchmark in the half to June 2026. The FTSE 100 fund’s relative performance fell below the board’s expectations. Chairman Dean Buckley said the shortfall reflected a market in which returns were ‘unusually concentrated in AI-related stocks’. Unfortunately for shareholders, Alliance Witan’s deliberately diversified portfolio ‘did not participate in every area of momentum’. While this short-term period of underperformance is disappointing, manager Willis Towers Watson (WTW) stressed that Alliance Witan’s portfolio has meaningful exposure to attractive AI‑related businesses. Furthermore, the trust owns many companies with strong fundamentals whose value WTW believes has ‘yet…

Investment trust Scottish American (LON:SAIN) underperformed its benchmark in the first half to June. Known as ‘SAINTS’, the global equity income fund’s underweight exposure to the semiconductor industry detracted from relative returns. Nevertheless, the operational performance of SAINTS’ holdings remained ‘encouraging’. Broad-based earnings growth was generated across the equity portfolio. And the Baillie Gifford-managed fund insisted it ‘remains on track to continue beating inflation’ and deliver its 53rd consecutive year of dividend growth. Solid returns For the uninitiated, SAINTS’ objective is to deliver real dividend growth by increasing capital and growing income. In H1, the trust generated a positive net…

In our latest Podcast special, Ian Conway and James Crux welcome Iain Pyle, co-manager of Aberdeen Equity Income Trust (LON:AEI), which aims to deliver an above-average yield. Iain was previously manager of Shires Income, which merged with AEI, and he also manages UK and global income portfolios. Our special guest talks us through Aberdeen Equity Income’s ‘Focus on Change’ philosophy. Iain explains why cash flows and cash flow yields are important to him when looking for investment ideas. He also highlights the advantages of the investment trust structure including the ability to borrow money or ‘gear’. In addition, Iain tells us…