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Shares in Regional Reit (RGL) fell 6 per cent in early trading after the company guided for another difficult year.

The Reit, whose ÂŁ555mn portfolio is focused on regional offices, will cut its dividend from 10p to 8p from 2026, which still equates to an 8 per cent yield. It is facing a threefold cash earnings hit from shrinking rents, higher financing costs and increased capex spend. 

Regional sold ÂŁ52mn worth of properties during 2025 at a fraction above book value. It plans to continue disposals in 2026, not least to fund improvements in its remaining portfolio. 

Management argued that a death of new supply, coupled with resilient occupier demand, should be supportive in the medium-term. “I think we will see good leasing take up and some rental growth,” chair David Hunter told Investors’ Chronicle.

British Gas owner Centrica (CNA) has halted its positive run in 2026 by announcing a pause to the buyback programme, alongside a significant fall in earnings last year.

The operating profit dropped from £1.7bn to just £106mn in 2025 on the back of “challenging market conditions” for some units with lower energy prices.

On an adjusted basis, the operating profit halved to ÂŁ814mn. The gulf between adjusted and reported figures came from various impairments, including ÂŁ508mn knocked off the value of gas fields and nuclear assets excluding Sizewell C. 

Centrica bought back £2bn in its own shares last year. “Pausing the buyback enables us to prioritise investment that creates lasting value for shareholders, while continuing to deliver the reliable, affordable energy that households and businesses need to power economic growth through the transition,” said chief executive Chris O’Shea.

Capital spending rose from £564mn in 2024 to £1.2bn last year, and the company has guided for “at least” £700mn this year.

By the new measuring stick of diversified miner earnings – how much did the company make from copper – Rio Tinto (RIO) had a successful year in 2025.

Underlying earnings from the red metal more than doubled to $7.4bn (ÂŁ5.5bn), as production from the Oyu Tolgoi mine in Mongolia rose 61 per cent.

The overall underlying Ebitda performance, including the iron ore and aluminium divisions, was in line with the consensus analyst forecast at $25.4bn. 

The copper gains outweighed an 11 per cent drop in iron ore earnings, to $15.2bn, after cyclones early in the year knocked exports and prices dropped compared to 2024. 

Iron ore remains the biggest contributor by far to the top and bottom lines at Rio Tinto, compared to BHP (BHP) and Glencore (GLEN) either beating or approaching the 50 per cent Ebitda contribution mark for copper.

Just two weeks ago, Rio announced it would not be buying Glencore because of a disagreement over the price of the all-scrip deal. Glencore’s copper assets and growth prospects had attracted Rio given its own smaller basket of potential new mines. 

It’s been a little more than two years since Dublin-based building materials group CRH (CRH) moved its primary listing to the New York Stock Exchange, citing a stronger US investor base as well as “increased commercial, operational and acquisition opportunities”.

Now it is weighing up scrapping its London listing altogether. The company is “undertaking a review” of both ordinary and some 7 per cent preference shares still listed in London, which “may result in the delisting” of both. The review will be completed by the end of March, the company said.

CRH still has some 5 per cent preference shares listed on the Euronext Growth Dublin exchange, which have also been placed under review. It cancelled a secondary listing of its ordinary shares in Dublin when it moved its primary listing to New York in September 2023.

Shares in Debenhams (DEBS) jumped nearly 8 per cent in early trading after the online retailer raised ÂŁ40mn in an oversubscribed share placing, allowing it to renegotiate the terms of its main lending agreement.

Formerly known as Boohoo group, the company had initially sought to raise up to ÂŁ35mn but increased the size of the fundraise following strong investor demand. 

The shares were issued at 18p each, a 5 per cent discount to the closing share price of 19p on 17 February. After transaction costs, Debenhams will receive net proceeds of around ÂŁ38.7mn. The new shares will be admitted to Aim on 23 February. 

Rival retailer Frasers Group (FRAS) bought up just over a quarter of the new issue, maintaining its position as a major shareholder.  

“We are pleased with the strong level of support from new and existing shareholders. The success of the fundraise demonstrates the strength of support for our multi-year turnaround strategy,” said chief executive Dan Finley.

A successful rights issue had been a prerequisite for the company to loosen some of its borrowing covenants with lenders, despite only having agreed the terms of its ÂŁ175mn core loan facility in August.

The company previously said it is in “advanced discussions” with its lenders to provide additional liquidity.