Must read: FTSE 100 latest, Entain
ii’s head of investment rounds up the morning’s big news.
5th March 2026 09:37
by Victoria Scholar from interactive investor
Global markets
European markets have recoupled early losses despite the Iran war continuing to affect risk appetite. Rentokil Initial (LSE:RTO) is at the top of the FTSE 100 thanks to strong annual earnings while Entain (LSE:ENT) is another top gainer thanks to its full-year results.
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Geopolitical unease is weighing on airline stocks like easyJet (LSE:EZJ) and International Consolidated Airlines Group SA (LSE:IAG) which are struggling today, and oil prices are pushing higher again on the back of supply concerns after Iran launched a wave of missiles at Israel.
IG Group Holdings (LSE:IGG) and Lion Finance Group (LSE:BGEO) will join the FTSE 100, replacing easyJet (LSE:EZJ) and Hikma Pharmaceuticals (LSE:HIK) which drop to the FTSE 250 index. Rightmove (LSE:RMV) had a lucky escape, narrowly avoiding relegation.
Entain
Entain reported a full-year 2025 loss of £680.5 million, up from £461 million year-on-year, with the deterioration caused by a non-cash impairment charge of £488 million on the back of new UK gambling taxes announced in the Budget.
However, investors are looking beyond this, focusing instead on strong underlying EBITDA which grew by 8%, beating consensus partly thanks to a strong performance in its 50% share of BetMGM and adjusted cashflow of £151 million, which also beat forecasts, sending shares sharply higher.
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The group’s gamble to conquer overseas markets in addition to its core UK offering continues to show signs of paying off with the success of its BetMGM joint venture. Plus, Brazil is expected to be the fastest growing market outside the US.
But shares have struggled so far this year, down 20% and are down around 25% over the past six months, reflecting the increased tax pressure in the UK and global macro uncertainty that could weigh on consumers’ appetite to spend.
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