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Intertek acquires US testing services firm, Pets at Home interim profits slump by a third
By Iain Gilbert
Date: Wednesday 26 Nov 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 23.5 points higher ahead of the bell on Wednesday after wrapping up the previous session 0.78% firmer at 9,609.53.
STOCKS TO WATCH
Quality assurance specialist Intertek has bought US-based Professional Testing Laboratory, which provides testing services for the flooring industry, for an undisclosed sum. Intertek said the purchase was "highly complementary" to its TQA business in North America and would unlock strong commercial synergy opportunities, such as expanding PTL's services to Intertek's existing clients, including major retailers.
Drugmaker AstraZeneca's Imfinzi asset has been approved in the US for use alongside standard FLOT chemotherapy in the treatment of adult patients with resectable, early‑stage and locally advanced gastric and gastroesophageal junction cancers. AstraZeneca said on Wednesday that the regimen covers neoadjuvant Imfinzi with chemotherapy ahead of surgery, followed by adjuvant Imfinzi with chemotherapy and then Imfinzi monotherapy.
Pets at Home has announced it is taking "action at pace" to address its disappointing retail performance after interim profits at the pet shop and veterinary chain slumped by a third. Group underlying pre-tax profits totalled £36.2m over the six months ended 9 October, down 33.5% year-on-year, with group revenues rising just 0.7% to £1.06bn. Pets at Home's vet division saw a 6.7% improvement in sales to £375.9m, while the larger retail arm saw turnover slip 2.3% to £679.9m.
NEWSPAPER ROUND-UP
The UK government has been accused of caving-in to pressure from the British Virgin Islands by allowing it to limit access to a register of company share ownership to only those deemed to have a legitimate interest. The restriction, to be discussed at talks starting on Tuesday between Foreign Office ministers and leaders of the British overseas territories in London, is in defiance of legislation passed by the UK government as long ago as 2008 that would make the register available to all. - Guardian
Investigators have identified the source of a leak in the Olympic pipeline two weeks after fuel was first spotted in a ditch near an Everett, Washington, blueberry farm. Oil and gas company BP, the operator of the pipeline, shared in a statement that it had determined the leak occurred in a 20 inch pipeline and not a neighbouring 16 inch pipeline, allowing that pipeline to be restarted. "Repair plans for the 20-inch segment are being developed and a timeline for repair and restart will be shared when available," BP said. - Guardian
Britain risks a "national act of self-harm" by funnelling more money into welfare while failing to prepare for a war with Russia, a former Army general has warned. General Sir Richard Barrons, who co-authored the Government's strategic defence review, said rearmament efforts were proceeding at "half the speed" necessary because the Ministry of Defence was "on its knees". - Telegraph
Rachel Reeves has been accused of "crippling" the jobs market after she announced businesses will be forced to pay teenagers more than £10 an hour for the first time. The Chancellor said the minimum wage for 18 to 20-year-olds will increase by 8.5% from next April, from £10 to £10.85 - more than double the rate of inflation. - Telegraph
Tesla is continuing to lose significant market share in Europe, according to figures that also show mass adoption of electric cars across the continent continues to be stuck in the slow lane. Within the European Union sales of Tesla, the continent's pre-eminent electric car brand, slumped 48% in October from 10,800 to 5,600. For the first ten months of the year Tesla sales are down year-on-year by 39% at 117,000. - The Times
A dealmaker at the firm that broke up Cobham International is leaving the UK for Luxembourg as a number of wealthy individuals announce their departures in the lead-up to the budget. James Brocklebank, who is head of Europe at Advent International, the US private equity firm, said sparsely-populated Luxembourg was key for the "structuring of our funds". - The Times
US CLOSE
US stocks finished at their highest levels in nearly two weeks on Tuesday, with strong gains from Meta Platforms and Alphabet providing a lift, along with well-received results from retailer Best Buy.
At the close, the Dow Jones Industrial Average was up 1.43% at 47,112.45, while the S&P 500 advanced 0.91% to 6,765.88 and the Nasdaq Composite saw out the session 0.67% stronger at 23,025.59.
Reporting by Iain Gilbert at Sharecast.com
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