Daily Stock Market Report (Thur 13 Mar 2025) - Pension news, VANL, IGG, ESYS, FAN, GMS, OSB, GEMD, STB, CABP, DFS, RST

Good morning! Thanks for all the positive feedback on yesterday's report. Today's Agenda is now complete.
1pm: wrapping up for now, thank you.

Companies Reporting
Name (Mkt Cap)RNSSummaryOur view (Author)Halma (LON:HLMA) (£10.0bn)TUAdj. EBIT margin for FY March 2025 now expected above 21% (prev: “around 21%”).IG group (LON:IGG) (£3.2bn)Q3 TUTrading rev +15% year-on-year, driven by higher rev/client. Confident of meeting exps.GREEN (Graham holds)A pleasing update with revenue growth flowing from positive market conditions - there are plenty of reasons for customers to want to trade in this environment. Against that, customer numbers aren't growing much. A new buyback could be announced after the balance sheet is adjusted, leading to further share count reduction.Deliveroo (LON:ROO) (£1.82bn)Preliminary ResultsRobust top line, adj. EBITDA at top end of guidance. Outlook: high single digit growth.Osb (LON:OSB) (£1.55bn)Preliminary ResultsAdj. PBT +4%, actual PBT +12% (£418m). £100m buyback. 2025: low single digit loan book growth.GREEN (Graham)I tend to be positive on cheap lenders in this environment, and can find few reasons not to be positive on OSB at this valuation. It's going to buy back some shares very cheaply using...