French spirits firm Pernod Ricard (RI) and Jack Daniel’s owner Brown-Forman (BF.B) are in talks over a potential ‘merger of equals’. A tie-up would create a global alcoholic drinks titan with a combined market value north of $30 billion. Mega-deal distilled According to The Wall Street Journal, the deal being considered includes a significant shares component to it. The families behind the two companies would each retain significant stakes in the enlarged group. A merger would combine the world’s second-biggest spirits maker, Pernod Ricard, with the globe’s largest American whiskey producer, Brown-Forman. Pernod RicardShare price: €62 (+3.5%)Market cap: €15.1bnPE: 10.6x…

Global smaller companies trust Herald (HRI) has stepped up efforts to resolve its dispute with Saba Capital. Meanwhile, manager Katie Potts has been tasked with ‘raising the liquidity profile’ of the portfolio. In an update, the board said it continues to seek a ‘mutually agreeable solution’ with hostile major shareholder Saba. The US activist has a 31% stake in Herald and has been trying to take effective control by a process of attrition. But the majority of non-Saba shareholders have previously voted against moving into a Saba-controlled vehicle. Many would like to remain invested in the Katie Potts-managed trust’s successful…

In the latest Sharesify podcast special, James and Ian welcome Nicola Takada Wood, Asset Value Investor’s managing director for Japan. Nicola talks through AVI Japan Opportunity Trust (AJOT), which aims to capitalise on Japan’s increased focus on corporate governance, balance sheet efficiency and shareholder returns. Nicola explains how ‘AJOT’ invests in undervalued, cash-rich companies and uses constructive engagement to unlock value. She also explains why the corporate reform story in Japan has still legs under the country’s new PM. Takada Wood talks us through the benefits of AJOT’s combination with Fidelity Japan Trust. This has created a larger trust with increased capability…

E-commerce group THG (THG) ticked up 8% to 34p after FY25 results beat forecasts off the back of a record H2 performance. The Manchester-based business behind sports nutrition brand Myprotein and beauty retailer Lookfantastic also highlighted a ‘strong start’ to FY26. This positive start underpins THG’s FY26 revenue and adjusted EBITDA expectations, with free cash flow generation anticipated to be in the £25 million to £50 million range. There was also relief as THG said less than 1.5% of its revenues are exposed to war-blighted Middle East regions. EBITDA beat Guided by CEO Matthew Moulding, THG delivered adjusted EBITDA of…

One of the stockmarket’s most exciting growth areas is Biotechnology, a sector which has been overlooked by many investors in recent years. In this article, Sharesify explains why this is a great time for investors to buy into the biotech recovery story. We also place three of our favourite biotech funds under the microscope for further examination. Why Biotech, why now? Medical research is finding breakthroughs via multiple new technologies, just as ‘Big Pharma’ companies are desperate to replace drugs going off patent. Also, mergers and acquisitions are back big time and despite a recent rally biotech sector valuations continue…

Shares in Next (NXT) rallied after the fashion retailer delivered forecast-beating FY26 profits. The FTSE 100 firm also flagged an ‘encouraging’ start to the new financial year. Accordingly, Next raised its FY27 profit guidance to £1.21 billion. That implies solid year-on-year earnings growth of 4.5%. However, the clothing colossus reiterated its forecast for growth to slow this year. It also warned the Iran conflict would likely impact costs, selling prices and consumer demand. Consistent delivery Led by Simon Wolfson, Next has a track record of under-promising and over-delivering. And the high street retailer has been on a hot streak in…

In the latest edition of the Sharesify Podcast, Ian and James discuss why markets remain difficult for investors to navigate due to the ‘tape bombs’ emanating from the White House. While the FTSE 100 has resurfaced above the 10,000 level, the FTSE 250 has been slower to recover. On the earnings front, James addresses the Middle East challenges facing protein powders-to-supplements firm Applied Nutrition (APN) and highlights this week’s fresh £300 million buyback from DIY retailer Kingfisher (KGF). The FTSE 100 retailer’s B&Q and Screwfix chains are on solid foundations but the French market remains a drag. Ian shines the spotlight on…

Shares in Franchise Brands (FRAN:AIM) rallied after the multi-brand franchisor delivered resilient FY25 results. The company also launched a £10 million buyback to reflect debt reduction progress and management’s confidence in the group’s prospects. Franchise Brands said it is ‘actively reviewing the strategic fit’ of businesses that do not support the ‘considerable’ potential of its key franchise networks. Any disposal proceeds would be used to accelerate balance sheet deleveraging. Led by CEO Peter Molloy, Franchise Brands also stressed it has ‘no current intention’ to transfer its listing to the Main Market. This addressed a key concern among AIM-focused investors. Essential…

Despite a mixed geopolitical backdrop, investment trust JPMorgan Claverhouse (JCH) outperformed its FTSE All-Share benchmark in FY25. The portfolio benefitted from good stock-picking as well as overweight allocations to the aerospace and defence, banking and insurance sectors. Furthermore, the total dividend for the year was increased by 2.3% to 36.2p. This marked the 53rd successive year of rising payouts from JPMorgan Claverhouse. The trust is one of the Association of Investment Companies’ revered ‘Dividend Heroes’. These are trusts that have consistently increased their dividends for 20 or more years in a row. To learn more about the fund, its process…

Shares in Itaconix (ITX:AIM) jumped after the specialty polymers innovator delivered record annual revenues. Sales rocketed 61% higher to top $10 million for the first time in FY25. Guided by CEO John R. Shaw, the group’s FY25 adjusted EBITDA loss improved from $1.8 million to $600,000. And Itaconix remains confident of delivering positive adjusted EBITDA for the first time in FY26. Analysts are forecasting earnings of $300,000 on $13.3 million of revenue. Encouragingly, Itaconix entered 2026 with ‘strong order momentum’ as well as a growing pipeline of projects. Sustainable growth Itaconix is a sustainable ingredients and additives company, making polymers…