A busy day for brokers, miners and markets. Here is your Five at Five:
1. IG Group: Market still not paying attention, says Deutsche
Deutsche Bank has started coverage of IG Group with a ‘buy’ rating and a 1,300p price target, arguing that the market is overlooking growth in non-core segments and undervaluing the group’s capital strength. The bank says IG’s earnings, buybacks and dividend profile justify a higher multiple. Read more …
2. Housebuilders reshuffled: Persimmon and Taylor Wimpey get upgrades
RBC has reweighted its housebuilder preferences, lifting Persimmon and Taylor Wimpey to ‘outperform’ while downgrading Berkeley and Barratt Redrow. The broker points to strategic land, slowing planning activity and the Budget’s property taxes as key pressure points for the sector. Read more …
3. Banks lead FTSE after BoE loosens the reins
Barclays and Lloyds pushed the FTSE 100 higher after the Bank of England cut future Tier 1 requirements and signalled a review of the leverage ratio. Stress tests showed all major lenders withstanding shocks without needing extra capital. Read more …
4. Mining sector steadies as Citi rejects ‘apocalypse’ narrative
Citi says sentiment around miners has overshot on the downside and highlights copper as the standout metal heading into 2026. The broker prefers Glencore on risk-reward grounds and sees iron ore and coal prices holding steady rather than collapsing. Read more …
5. RC Fornax accelerates into FY26; broker holds 50p target
RC Fornax reported £2.50 million of first-quarter new orders, most of it from new clients, prompting Cavendish to reaffirm its 50p target and note improved revenue visibility. Shares rose 14% to 7p. Read more …