Landsec lifts earnings forecasts, Melrose holds annual guidance
By Michele Maatouk
Date: Friday 14 Nov 2025
(Sharecast News) - London open
The FTSE 100 was called to open down around 55 points.
Stocks to watch
UK aerospace company Melrose Industries held annual guidance after "significantly higher" adjusted operating profit in the four months to 31 October on the back of a 14% rise in revenues, driven by its engines division. The company expects adjusted operating profit in a range of £620m - £650m and revenues of £3.42bn - £3.57bn.
Commercial property group Land Securities lifted its earnings forecasts despite the uncertain economic backdrop, following a strong first half. Net rental income at the blue chip landlord rose 5.6% in the six months to September end, to £284m, or by 5.2% on a like-for-like basis. Earnings per share rose 3.2% at 25.8p.
Newspaper round-up
Rachel Reeves is set to abandon a plan to raise income tax in her budget with the chancellor reportedly "ripping up" the main measures in the wake of turmoil in the party. A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the prime minister, Keir Starmer, and the chancellor. - Guardian
The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company's global workforce as his heavily indebted empire comes under increasing pressure. Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed "several hundred" head office staff across multiple locations, including the UK and parts of Europe. - Guardian
It made pith helmets for young Englishmen heading off to the jungle. It supplies the Royal family and almost every child at a pony club wears its protective headgear. But after 114 years, family-owned riding helmet manufacturer Charles Owen has called time on production in the UK. Dave Derby, the chief executive of the Wrexham-based company, said in a note sent to customers this week that the company would have to cease production in mid-December following a row over its lease. - Telegraph
Households have slashed their energy usage to near record lows as bills soar. Domestic energy use has dropped by an average of 15pc in just a year, according to new figures released by Ed Miliband's officials. It suggests families and pensioners have cut back on things like heating, bathing and cooking. About a third of the decline was attributed to warm weather between April and June this year, meaning there was less need for things like heating. However, the Department for Energy Security and Net Zero said energy usage was still "near historic lows" when adjusted for changes in temperature and seasonality. - Telegraph
Virgin Atlantic has struck a deal with the US investment firm Apollo Global Management to borrow $745 million against the value of its landing slots at Heathrow Airport, using the extra cash to revamp its fleet of aircraft. The airline, which counts Britain's busiest airport as its primary hub, intends to use the additional funds to pay down debt, upgrade aircraft cabins and finance free on-board wifi, powered by Elon Musk's satellite venture Starlink. - The Times
US close
Wall Street stocks dropped sharply on Thursday, with the Dow and S&P 500 snapping a four-day winning streak and the Nasdaq Composite hitting a three-week low, as investors overlooked the opening of the US government amid concerns about the availability of economic data.
The Dow and S&P 500 both dropped 1.7%, with the former having surged nearly 3% since last Thursday to a record closing high of 48,254.82. The Nasdaq, meanwhile, sank, 2.3% to reach 22,870.36 - its lowest close since 22 October
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