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Tesco widens FY guidance amid 'increased uncertainty', Rentokil Initial reports 'good start' to FY26
By Iain Gilbert
Date: Thursday 16 Apr 2026
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 9.2 points lower ahead of the bell on Thursday, after wrapping up the previous session 0.47% weaker at 10,559.58.
STOCKS TO WATCH
Supermarket giant Tesco widened guidance for 2026/27 on Thursday to reflect increased uncertainty caused by the US-Israel war on Iran. "Much will depend upon the duration of the conflict and in particular, the potential implications for UK households and the economy more broadly. At this stage, we are expecting to deliver adjusted operating profit of between £3.0bn and £3.3bn," the company said, after reporting a 0.8% rise in adjusted operating profits to £3.15bn, beating estimates of £3.10bn.
Pest control and business services firm Rentokil Initial reported a solid start to the year on Thursday, with first‑quarter group revenues rising 4.3% to $1.68bn, supported by 3.4% organic growth. Rentokil said its North America division delivered a strong performance, with revenue up 4.5% to $995m and organic growth of 3.9%, while its tnternational segment generated $682m in revenues, an increase of 4.1% year-on-year, with organic growth of 2.8% despite pockets of regional pressure.
NEWSPAPER ROUND-UP
Average private rents have stopped rising in Great Britain after almost a decade of increases, as more landlords cut their prices to secure a tenant, data shows. The typical advertised private rent outside London for properties coming on to the market remained flat at £1,370 a calendar month in the first three months of 2026, according to the property website Rightmove. It is the first time since 2017 that rents have not increased in the first three months of a year compared with levels at the end of the previous year. - Guardian
The owner of the Drax power plant in North Yorkshire received record subsidies of almost £1bn for burning trees to generate electricity in 2025, a climate thinktank has calculated. The company was paid £999m last year for generating about 4.5% of Great Britain's electricity from its biomass plant, costing each household £13 a year, according to analysts at Ember. - Guardian
HP is pushing to investigate the assets of Mike Lynch's widow as it seeks to recoup more than £900m in legal damages. The US technology giant asked the High Court on Wednesday to appoint administrators over Lynch's estate, who would manage the holdings and investigate past transactions. - Telegraph
NHS patients risk prescription shortages within weeks if the US and Iran fail to strike a deal ending the Middle East conflict, drug manufacturers have warned. Medicines UK, which represents companies that make 85% of all NHS prescriptions, said it was "increasingly concerned that some chemicals and solvents used to manufacture active pharmaceutical ingredients are now in very short supply". - Telegraph
The government has expanded plans to reduce bills for thousands of manufacturers as they face a rise in costs following the outbreak of conflict in the Middle East. Chancellor Rachel Reeves has announced the government will widen access to an initiative designed to lower electricity costs for energy-intensive manufacturers by up to 25% to help businesses "compete, win and create good jobs across the country". - The Times
Britain's first proposed "nationally significant" data centre would be powered by gas, putting the government's ambition to create an AI superpower on a collision course with its net-zero goals. The £2bn Wapseys Wood data centre in Buckinghamshire would include a new gas-fired power station to provide "a resilient and reliable power supply" for the site, planning documents show. - The Times
US CLOSE
US stocks finished mostly higher, with the S&P 500 and Nasdaq logging new record closing highs despite ongoing geopolitical uncertainty, as another strong round of bank earnings lifted sentiment.
At the close, the Dow Jones Industrial Average was 0.15% softer at 48,463.72, while the S&P 500 advanced 0.80% to 7,022.95 and the Nasdaq Composite saw out the session 1.59% firmer at 24,016.02.
Reporting by Iain Gilbert at Sharecast.com
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