Daily Stock Market Report (Mon 5th Jan 2026) - GMS, TENG, ATG, GSK, CNE, PCA, ACSO

Good morning! The festivities are well and truly over - but no January blues here yet!

Wrapping up today's report there - cheers!
Spreadsheet accompanying this report: link (updated to 16th December).

Companies Reporting
Name (Mkt Cap)RNSSummaryOur View (Author)GSK (LON:GSK) (£75bn | SR91)Nucala for adults with COPD approved in ChinaApproval follows positive phase III trials where Nucala (mepolizumab) showed a significant reduction in the annualised rate of moderate/severe exacerbations.AMBER/GREEN = (Roland holds) [no section below]Nucala is an established treatment for severe asthma that’s also used for COPD, among other respiratory conditions. Nucala sales rose by 13% to £1.4bn during the first nine months of 2025, making it an important ‘blockbuster’ medicine for the company. Gaining access to a potential new market in China, where c.100m people have COPD, could be an attractive commercial opportunity. Of course, we don’t yet know what uptake or pricing might be like in China, nor whether domestic alternatives might emerge. The country’s China First policy means that many western firms operating in China are seeing renewed pressure on pricing and from domestic competitors.Despite this caveat, today’s announcement looks positive to me. I don’t see any reason to change my