M&S, Wetherspoon and Weir report growth in latest trading updates

CEO Stuart Machin on Marks & Spencer strategy

Addressing the company's financial position, Mr Machin said: "Our hard work over the last few years to create a strong balance sheet has built a firm financial footing from which to invest and we are confident in the opportunities ahead".

Regarding market conditions, Mr Machin said: "Despite the onslaught of cost headwinds, we have remained focused on our ambitions, and we are clear on our plan".

JD Wetherspoon sales rise 9.1% in first quarter

JD Wetherspoon, a company in the recreational facilities industry headquartered in Watford, reported a 9.1% increase in total sales for the first quarter of the trading year. The business, which held its initial public offering on 30 October 1992, also recorded a slight reduction in net debt.

Management stated they are comfortable with current market expectations for the trading year.

Weir group orders increase 8% in third quarter

Group orders were up 8% overall, with aftermarket orders 10% higher, supported by a strong order book.

Weir expects to meet full-year expectations and projects that operating profit margins will exceed 20%, marking an improvement from the position held at the mid-year point.

CEO Andrew Neilson on Weir’s mining market momentum

Addressing the remainder of the year, Mr Neilson said: "As we look to the remainder of the year, mindful of specific geopolitical events which are adding shorter-term headwinds for the sector as a whole, our current pipeline and orderbook reflects a high level of underlying demand for our products.".

Regarding operational goals, Mr Neilson said: "Our focus is now on delivering our large aftermarket backlog in Q4 and we remain on track to deliver in line with current market expectations for 2026.".

Housebuilder reports 12.1% decline in home completions

A housebuilder reported 3,223 total home completions for the 17-week period between 29 June and 25 October, marking a 12.1% decrease from the 3,665 homes completed in the same period last year. As of 25 October, the firm held a forward order book of 11,086 homes valued at £3,315.4m, compared to 10,669 homes worth £3,281.4m on 26 October 2025.

The company was 56% forward sold for fiscal year 2027 private home completions as of 26 October 2025. Dean Banks, the chief executive officer, said: "Our trading performance in the first 17 weeks of the financial year has been resilient against a backdrop of challenging market conditions, with continued pressure on affordability."

Broker updates and AIM market movements

Broker updates include a downgrade of GSK by Jefferies, a cut to Hold for Haleon by Berenberg, and a downgrade of Sainsbury by Deutsche Bank. The AIM All Share index closed yesterday down by just over two points at 755.37.

Anthropic IPO and tax implications for crypto investors

Anthropic is expected to list on the Nasdaq exchange this month. Baillie Gifford's Schiehallion trust currently holds a stake in the company valued at approximately three times its cost.

UK investors who lost cryptocurrency in the Binance hack may be unable to offset losses against capital gains tax. This is because HMRC generally considers the assets to still be owned by the investor.

Summit Royalties appoints Kathy Lai as CFO

Summit Royalties has appointed Kathy Lai as its new chief financial officer. The firm expects to grow from four to six producing assets in 2027.