Deutsche Bank lowered its target price for Associated British Foods (AB Foods) from 1,925p to 1,850p and kept a 'hold' rating due to ongoing weak sales growth at Primark and pressure on profit margins. Investor confidence remains low as Primark's like-for-like sales underperform and management has not clearly explained the European market weakness. There is a risk of further sales decline and margin pressure if cost inflation cannot be passed to consumers. Deutsche also cut earnings forecasts for 2026 and 2027, citing challenges in AB Foods' sugar business due to low sugar prices. The shares trade near 2013 levels, with valuation offering some downside support, but investors await clearer signs of Primark's sales recovery before increasing interest.
Sodexo has secured a major global contract to provide catering services across more than 130 Meta sites in over 30 countries. This large-scale partnership includes diverse locations such as headquarters, campuses, data centers, and conference centers...
Frasers Group PLC has withheld financial guidance for the upcoming year due to uncertainty around its takeover bids for Hugo Boss and Accent Group. The retailer's full-year adjusted profit before tax fell 4% to £538 million, impacted by asset impairm...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Gabriel Holding A/S has agreed to sell its European FurnMaster furniture manufacturing operations, including subsidiaries in Poland and Lithuania, to Leggett & Platt for an initial price of approximately EUR 9 million, with a possible additional paym...
A Gaza resident raised over £55,000 on GoFundMe to support his family but faced issues as the platform cannot pay directly to Gaza, forcing funds through intermediaries who failed to deliver the full amount. This highlights a broader problem in human...
