Daily Stock Market Report (Thur 5th February 2026) - CPG, SPSY

Good morning! Mark and I are covering the news today.

Today's Agenda is complete.
Spreadsheet accompanying this report: link.

Companies Reporting
Name (Mkt Cap)RNSSummaryOur View (Author)Shell (LON:SHEL) (£163bn | SR62)4th Quarter 2025 and Full Year Unaudited ResultsQ4 income $4.1 billion reflected unfavourable tax movements… lower marketing margins, lower realised prices and higher operating expenses. Net debt $45.7 billion.Anglo American (LON:AAL) (£41.9bn | SR63)Production Report Q4 2025All continuing businesses delivered their full year production guidance for 2025. Forward guidance: Copper production for 2026 is revised to 700,000-760,000 tonnes (previously 760,000-820,000 tonnes).BLACK?Compass (LON:CPG) (£37.8bn | SR54)Q1 Trading StatementOrganic revenue growth +7.3%. Changing the trading currency for its shares from GBP to USD, from April 2026. Reaffirms 2026 guidance and continues to expect around 10% underlying operating profit growth (constant currency).(No Colour) Graham [no section below]I'm a little taken aback by the news that a FTSE-100 member is changing the trading currency of its shares to US dollars. Looking into it, I've learned that since September companies have been eligible for inclusion in the FTSE series of indices even if they are quoted in euros or dollars. I'd...