London pre-open: Stocks to nudge lower after record highs
By Michele Maatouk
Date: Friday 16 Jan 2026
(Sharecast News) - London stocks were set to edge lower at the open on Friday after the top-flight index hit a fresh record high in the previous session.
The FTSE 100 was called to open down around seven points, having closed up 0.5% at 10,238.94 on Thursday after better-than-expected GDP data.
In corporate news, animal genetics specialist Genus upped guidance 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 (BCA), interim profits are 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 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".
Textile services provider Johnson Service Group said revenues had grown in the year ended 31 December, as both catering and workwear revenues increased.
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.
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