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Buildersā€™ merchant Travis Perkins (TPK) reported another disappointing quarter, with like-for-like sales down 1.7 per cent on last year.

Although the Toolstation UK business generated like-for-like growth of 2.6 per cent, its counterpart in Belgium saw same-store sales shrink by 7.1 per cent, while the traditional buildersā€™ merchants business also witnessed a 2.3 per cent decline.

Accounting for site openings and closures, overall sales fell by 3.1 per cent. Travis Perkinsā€™ shares, which have lost about two-thirds of their value over the past five years, fell by 5 per cent.

Taylor Wimpey (TW.) said sales of new homes have been ā€œsteadyā€ so far this year, although it has faced pricing pressure at the same time as its costs rise.

The company reported a year-to-date net private sales rate (excluding bulk sales) of 0.72 per site per week, down from 0.76 this time last year. Its order book has weakened, though, and prices are 1 per cent lower than last year. Prices have been hardest hit ā€œwhere affordability is most stretchedā€ in the south of England.

At the same time, build cost inflation has picked up as suppliers add surcharges to deal with rising energy costs. Broker Peel Hunt cut its pre-tax profit forecast for Taylor Wimpey by Ā£15mn last week to Ā£345mn and said that ā€œtodayā€™s news on pricing and costs mean further cuts are likelyā€. The shares fell by 5 per cent, with other housebuilders falling alongside.

National Savings & Investments (NS&I) has launched new issues of its British Savings Bonds with higher returns across its 1, 2, 3 and 5-year Guaranteed Growth and Guaranteed Income Bonds.

The rate on its one-year growth bond has risen from 4.07 per cent (annual equivalent rate) to 4.5 per cent. Meanwhile, the two-year option now pays 4.48 per cent, up from 3.98 per cent, while its three and five-year bonds now pay 4.45 and 4.4 per cent, respectively. The income bonds have seen similar rises. It has also increased the interest rate for its postal-only investment account from 1 per cent to 2.05 per cent.

NS&I said the change would help it meet its net financing target, which was set at Ā£15bn at the Spring Statement.

The organisation courted controversy in March after a long-running failure to correctly record customersā€™ details was revealed to have prevented families from accessing money trapped in the accounts of deceased relatives.

Shares in Canal+ (CAN) rose 3 per cent in early trading after the French pay-TV group reaffirmed its full-year guidance. This was despite reporting flat revenue in its first full quarter since acquiring South African media group MultiChoice.

The company reported 1.8 per cent organic growth to ā‚¬1.6bn (Ā£1.4bn), driven by pay-TV in French-speaking Africa and its production arm, but offset by a 2.1 per cent like-for-like decline in its core European market. Including MultiChoice, revenue was flat.

MultiChoice revenue continued to decline, but management said the turnaround plan is progressing. The company previously unveiled a ā€˜growth boost planā€™ involving a ā‚¬100mn investment to recruit sales teams and strengthen its commercial operations. 

In March, the group said it would accelerate its cost-saving targets. It is now targeting ā‚¬250mn (Ā£217mn) in MultiChoice synergies for 2026, up from ā‚¬150mn, mainly through the discontinuation of streaming platform Showmax and infrastructure optimisation.

Canal+ also confirmed it will become the first French company to list in South Africa. The secondary listing on the Johannesburg Stock Exchange (JSE) is scheduled for 3 June.

Find out why weā€™re bullish on Canal+

Card Factory (CARD) launched a new Ā£15mn share buyback this morning, taking advantage of its battered share price following a profit warning in December.

The FTSE 250 card and gifts seller grew revenue by 7.4 per cent to Ā£583mn in the year to 31 January, but pre-tax profit plunged by nearly a third to Ā£44mn, which the retailer blamed on ā€œa challenging consumer environmentā€, lower footfall and a tough Christmas.

Management said that over the year operational gearing went into reverse, which left it unable to ā€œoffset inflationary impacts to the extent previously expectedā€. This prompted management to lower its pre-tax profit guidance at the end of last year, triggering a sell-off.

Even so, the board stuck to its progressive payout policy, raising the total dividend by 4 per cent. The shares rose 2.4 per cent to 68p in early trading, but remain down 28 per cent over the past year.

London will gain a Ā£400mn-plus mine developer after Meridian Mining (CA:MNO) announced a dual listing on Monday, adding to its Toronto trading.

The London-based company has raised Ā£22.5mn after issuing new shares alongside the move, and will start trading this side of the Atlantic on Friday. A retail offer could raise another Ā£2.5mn. Its primary asset is a gold and copper deposit in Brazil called CabaƧal, which could be under construction by mid-next year if financing can be lined up.

A preliminary feasibility study from last year put the bill at around $250mn (Ā£184mn), but Meridian is working on a new study that will likely update this number.

CabaƧal was in operation from 1987 to 1991 as an underground mine, but Meridian is working on an open pit model. According to last yearā€™s study, this will produce around 140,000 ounces (oz) gold equivalent per year, a measure that combines gold, silver and copper output.

Meridianā€™s shares have climbed 170 per cent in the past 12 months as investors have looked for more copper and gold exposure.

WPPā€™s (WPP) shares jumped briefly in early trading before slipping back after the advertising conglomerate reported slightly better than expected first-quarter earnings.

Like-for-like revenues minus pass-through costs, or net revenue, fell 6.7 per cent to Ā£2.2bn, slightly better than the 6.9 per cent drop recorded in the final quarter of 2025 and ahead of consensus expectations for a 7.8 per cent decline.

The beat came despite a 12.6 per cent like-for-like net revenue drop in the Middle East, which represents less than 2 per cent of the group. China continues to be tough, with revenues down 12.2 per cent. North America, by far its largest market, fell 7.8 per cent.

Despite the conflict in the Middle East, the FTSE 100 group reiterated its guidance for a like-for-like net revenue decline in the mid to high single digits in the first half, followed by an ā€œimproving trajectoryā€ in the second half.

The headline operating margin is expected to come in between 12 and 13 per cent, with adjusted operating cash flow before working capital of Ā£800mm to Ā£900mn.