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Genus ups FY guidance, Impax Environmental Markets to offer Saba cash exit
By Iain Gilbert
Date: Friday 16 Jan 2026
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 7.9 points lower ahead of the bell on Friday, after wrapping up the previous session 0.54% higher at a fresh record close of 10,238.94.
STOCKS TO WATCH
Textile services provider Johnson Service Group said on Friday that revenues had grown in the year ended 31 December, as both catering and workwear revenues grew. Johnson Service expects revenues to have risen 4.3% to £535.6m, while revenue in its catering division was set to increase to £390m from £371.2m, and workwear revenue was forecast to edge up to £145.6m from £142.2m. On an organic basis, group revenue was seen roughly 1.4% higher than the prior year.
Animal genetics specialist Genus upped guidance on Friday, on the back of robust trading. The London-listed business said it had performed "strongly" in the six months to 31 December, and now expects adjusted pre-tax profits to come in around £50m in actual currency, ahead of internal forecasts. Including a milestone payment from Beijing Capital Agribusiness, interim profits were expected to be £55.6m. Looking further ahead, the firm also flagged full-year profits were now tracking "moderately" above the top end of current market expectations.
Polar Capital Holdings has announced plans to launch a £15m share buyback after a strong third quarter, as assets under management rose to a new record high. AUM rose 6% over the three months to 31 December to £28.4bn, up from £26.7bn at the end of the September and £21.4bn at the end of the previous fiscal year. The increase was driven by £1.7bn of fund performance and market movements and £149m of net inflows.
Impax Environmental Markets said it planned to offer activist investor Saba a cash exit via a tender offer for up to 100% of its stake at close to net asset value while giving investors who want to remain the ability to do so. The offer is conditional on Saba - which holds a 20.7% stake - offloading most or all of its shares. If it doesn't Impax will put forward a second tender offer for all investors to exit the company "which the board believes is being targeted by Saba, an activist with a short-term investment horizon which potentially has the aim of controlling the company's strategic direction and assets".
NEWSPAPER ROUND-UP
Leading members of Donald Trump's campaign to overturn the 2020 presidential election are seeking a huge European pipeline contract, the latest figures from the US president's circle to mix business and geopolitics. Jesse Binnall, a lawyer who worked on legal actions advancing Trump's baseless claim that the vote was stolen from him, and Joe Flynn, who also sought to undermine Joe Biden's victory, have been in Bosnia this week to discuss the project. - Guardian
Advances in AI and robotics will transform human jobs, starting with roles in warehouses and factories, the UK science minister has said, as the government announced plans to reduce red tape for robot and defence tech companies. Patrick Vallance said technological progress was creating a "whole new area" for robots to work in. "What's really changing now is the combination of AI and robotics. It is opening up a whole new area, particularly in the sorts of things like humanoid robotics. And that will increase productivity, it will change the human job". - Guardian
Asda has put more than 150 jobs at risk of redundancy after trading collapsed over Christmas, plunging its share of Britain's grocery market to a new low. The troubled supermarket is preparing to axe more than 80 managers and dozens of warehouse staff in its latest attempt to cut costs. It signals growing pressure on the retail giant, which has so far failed to reverse its fortunes and continues to lose ground to rivals such as Tesco. - Telegraph
Elon Musk's Starlink is now offering cheaper broadband than BT after rolling out price cuts in the UK. The billionaire's satellite broadband company has launched a high-speed internet service for just £35 per month in some areas, down from its previous entry-level price of £55. That compares to £40 for BT's equivalent package, while Virgin Media O2 is priced at £36. Even when the £94 installation fees are included, Starlink's new discounted package is still less expensive than BT's over a 24-month contract. - Telegraph
Weight-loss drugs could save US airlines hundreds of millions of dollars in annual fuel costs as slimmer passengers make planes lighter, according to analysts at Jefferies, the Wall Street investment bank. Airlines have long sought ways to lighten the load of their aircraft, from cutting olives in salads to taking weight out of the airframe. Now the popularity of weight-loss jabs, such as Ozempic and Wegovy, will help them, the analysts said. - The Times
US CLOSE
Major indices closed higher on Thursday as chip stocks and banking giants were among the market's biggest winners.
At the close, the Dow Jones Industrial Average was up 0.60% at 49,442.44, while the S&P 500 advanced 0.26% to 6,944.47, and the Nasdaq Composite saw out the session 0.25% firmer at 23,530.02.
Reporting by Iain Gilbert at Sharecast.com
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