Daily Stock Market Report (Wed 17th December 2025) - IPF, SNX, CCT, REC, BNZL, IHP, SPR, VCP

Good morning!
The wind-down to Christmas has begun in earnest, but we still have a healthy dose of results to review today.

All done for today, cheers! Spreadsheet accompanying this report (updated to 24th November): link.

Companies Reporting
Name (Mkt Cap)RNSSummaryOur View (Author)GSK (LON:GSK) (£74bn | SR91)Exdensur (depemokimab ulla) approved by US FDAApproved for twice-yearly dosing of severe asthma. Approval based on SWIFT trials showing significantly lower rate of annualised asthma exacerbations,Vodafone (LON:VOD) (£22.4bn | SR92)Vodafone completes the acquisition of SkaylinkCompleted acquisition of German cloud computing company Skaylink for €175m.Bunzl (LON:BNZL) (£7.2bn | SR81)Trading StatementSP -3%Group revenue to be +2% to 3%, driven by acquisitions. 2025 op profit to be in line with expectations, with a margin of 7.6% (FY24: 8.3%).2026 outlook: challenging markets, expect moderate revenue growth w/ margins down slightly.AMBER = (Roland) [no section below]Distribution group Bunzl is the biggest faller in the FTSE 100 this morning. For many years this business was a watchword for reliable growth, but the engine has faltered slightly in recent years and the company issued a rare profit warning in April this year.Today’s...