UK-listed companies are facing a wave of overseas acquisitions, with DS Smith being a recent example. While some, like US-based Iron Mountain, have seen significant share price growth due to pivots like data centre leasing, UK companies like Restore have experienced declines. Restore's shares lost value but have since recovered nearly double from their lows, driven by a turnaround plan under CEO Charles Skinner, who will be succeeded by Dan Baker in 2026. Despite improvements in digital and physical storage, Restore remains smaller than Iron Mountain and lacks exposure to the AI boom.

Meanwhile, Rio Tinto reported strong interim earnings and surging free cash flows, with copper, aluminium, and lithium becoming significant profit drivers. The company is prioritizing investments in copper and lithium, boosting its return on capital to 17 per cent. The stock trades at 11 times forecast earnings with a 4.5% dividend yield.

Unite Group, a student landlord, is looking to sell 15,000-20,000 student beds, aiming for £300m-£400m in disposals by 2026. Proceeds will strengthen its balance sheet and fund development. The company reported a £417m pre-tax loss as its portfolio value declined 6%. Unite has also lowered its rental growth guidance for the 2026/27 academic year to 1-2% and is cutting prices in underperforming cities.