Entain interim losses narrow, Rio Tinto secures Australian government bailout
By Iain Gilbert
Date: Thursday 13 Aug 2026
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 24.7 points higher ahead of the bell on Thursday, after wrapping up the previous session 0.10% lower at 10,833.15.
STOCKS TO WATCH
Bookmaker Entain reported a narrower first‑half loss and stronger net gaming revenue on Thursday, with both its online and retail businesses outperforming expectations. Group net gaming revenue rose 5% on a constant‑currency basis to £2.55bn, up from £2.37bn a year earlier, supported by £1.48bn of gross profits and broad‑based momentum across key markets. Online NGR increased 7% to £2.51bn, while retail NGR edged 1% higher. Entain posted a £11.4m loss after tax, a sharp improvement from the £85.8m loss recorded in H1 2025, helped by favourable movements in financial instruments and FX. Underlying earnings, on the other hand, slipped 2% to £479m.
Australia has stepped in with a AUD $2.5bn bailout to keep the country's largest aluminium smelter running. The federal and New South Wales governments agreed a new ten-year power deal that will see the Rio Tinto-controlled Tomago plant shift to 100% renewable power by 2033 in order to stay open amid surging energy costs and plans to shutter the operation.
NEWSPAPER ROUND-UP
Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's imperialist threats, tensions have been rising on Greenland's eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a "strong warning" from the government. - Guardian
Enough new coalmining projects were proposed last year to increase global supplies by 2.5bn tonnes a year, an increase of 11% from the year before, even as demand for coal plateaus, according to a new report. Global Energy Monitor, an NGO, found that India ignited a rise in new coalmine proposals in 2025 despite a global slowdown in the number of mine openings because of falling demand for the fossil fuel. - Guardian
The founder of a collapsed shadow bank is battling to stave off the threat of bankruptcy as lenders step up efforts to recover their debts. Paresh Raja has launched a legal claim to prevent administrators of Market Financial Solutions from chasing him for repayment. Lawyers at Mishcon de Reya on Tuesday applied to the High Court to set aside a so-called statutory demand made by insolvency experts who are representing some of Mr Raja's creditors. - Telegraph
Donald Trump is eyeing major tax cuts for investors to revive the US economy and boost his ratings before the midterm elections. The US president is looking at indexing capital gains tax so the levy is only charged on profits made above inflation, according to Larry Kudlow, a former adviser to Mr Trump. He is also considering raising the tax-exempt threshold for house sales. - Telegraph
The debt facing Morrisons has risen sharply after the supermarket chain was left with fresh lease liabilities following its private equity takeover. Net debt at Market Topco, the ultimate parent company of Wm Morrison Supermarkets, increased to £7.52bn in the year to the end of October, up from £7.07bn the previous year, as rising lease liabilities weighed on its balance sheet. - The Times
Cisco Systems forecast revenue for the 2027 financial year above Wall Street expectations on Wednesday, signalling confidence that strong demand for its artificial intelligence networking gear will continue to power growth. The technology company, based in California, has benefited from hyperscale cloud providers and enterprises building out their infrastructure to handle the complex demands of generative AI. - The Times
US CLOSE
Major indices delivered a mixed performance on Wednesday as traders digested July's all-important inflation report.
At the close, the Dow Jones Industrial Average was down 0.04% at 53,770.27, while the S&P 500 advanced 0.26% to 7,748.50, and the Nasdaq Composite saw out the session 0.54% firmer at 26,588.49.
Reporting by Iain Gilbert at Sharecast.com
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