Investors' Chronicle

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• Investing in British Water, Nick Train & CMC: Companies and Markets Show 05.06.2026 36Min.

  This week’s show dives straight into trading platform CMC Markets, after its promise of an imminent inflection point sent its shares soaring to the top of the FTSE All-Share leaderboard on Thursday. Julian Hofmann discusses the business’s full-year figures, its big future plans and whether it’s becoming a more reliable investment.We then turn to this week’s Big Read on how to tap into Britain’s mammoth water plan; the £100bn strategy to shore up and hopefully improve the dismal state of the country’s infrastructure. Will it succeed? And will it lead to new business for contractors and those working on new technologies? Hugh Moorhead has the answers.Finally, we take a look at beleaguered fund manager Nick Train’s latest attempts to encourage investors to stick by him during a period of significant underperformance. Holly McKechnie tells us what changes are being made to Finsbury Growth & Income Trust (FGT).Read more here:How investors can tap into Britain’s waterworks planWill Nick Train’s Finsbury Growth turnaround plan work?CMC Markets’ shares jump on upgraded outlookTimestamps00:00 Intro01:08 CMC13:33 Britain’s waterworks29:15 Nick Train’s new strategyListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• ‘Bottlenecks are the best way to benefit from AI’: Ali Unwin of Polar Capital Technology 02.06.2026 46Min.

  Polar Capital Technology Trust (PCT) is one of the most popular and best-performing tech-focused funds available to DIY investors, having built up its record and fan base long before the likes of AI and ‘Magnificent Seven’ became everyday terms. And deputy manager Ali Unwin has been part of that story since 2021, helping investors access the best and brightest, and yet-to-be-discovered names in the tech world.Val Cipriani sits down with Ali to discuss the fund’s approach in the changing AI space, how to go find the right companies when traditional ways to value stocks are stretched, a world beyond the likes of Nvidia, and plenty more.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• SpaceX, Pets at Home & defence stocks: Companies and Markets Show 29.05.2026 37Min.

  This week’s show dives straight into Elon Musk’s SpaceX as it gears up for the biggest IPO in market history. We consider what newly released financial details reveal about the company, and whether a mooted $1.75tn valuation is a sign of market madness. Alex Hamer has the detailsComing back down to earth, we take a look at Pets at Home. The FTSE 250 retailer has struggled with a mixed outlook and regulatory scrutiny for several years now. But with a former Waitrose boss now in charge, and underlying markets starting to improve, things could be looking up. Valeria Martinez tell us what’s going onLastly, with the publication of the UK’s 10-year defence spending plan imminent, Michael Fahy examines recent numbers from UK manufacturers Qinetiq and Cohort, and delves into what the future holds for the companies and the wider sector.Read more:SpaceX’s blast-off could burn investorsPets at Home profits hit by retail price cutsTimestamps00:00 Intro01:03 SpaceX19:14 Pets at Home28:00 DefenceListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Women and investing: How to start a business 26.05.2026 32Min.

  Leaving the stability of a full-time job to become self-employed is a truly daunting decision. Gone is the safety net of a monthly pay cheque, and if you want to start your own company, the pressure can feel monumental. In this episode of Women and Wealth, funds editor Val Cipriani sits down with Felicia Hjertman, head of investments at Monument Bank and former founder of an investment platform, to dive into entrepreneurship and investing.Felicia walks through everything from starting a business, the challenges of raising money as a woman, and the emotional and financial realities of managing, and then eventually closing, a company. The pair also discuss why many women can feel excluded from the world of investing, and offer solutions on how to navigate any apprehensions.If you have any questions you’d like Val to answer, email womenandwealth@ft.comTimestamps00:00 Introduction00:57 Starting a business16:24 Fundraising27:00 The gender investment gapWomen and Wealth is the monthly podcast series from Investors’ Chronicle. You can listen and watch the episodes, alongside our other podcasts, Acast, Apple, Spotify or YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Cranswick, the perfect pension & palm oil: Companies and Markets Show 22.05.2026 33Min.

  With food prices in the spotlight as Rachel Reeves pushes supermarkets to cap costs for consumers, this week’s show starts further up the supply chain with pork and poultry producer Cranswick. The company reported another strong set of results, and Mark Robinson talks through the details.Discussion then turns to this week’s Big Read on picking the perfect pension provider. In a week when the Pensions Commission outlined big gaps in the nation’s savings, it’s poignant to discuss what investors should consider when choosing a savings account. From charges to investment options, selecting the right home for your savings is vital. Helen Kirrane explains what to do.Finally, we cast our ears to palm oil producers in Indonesia, a country already feeling the impact of higher prices and where mooted export controls hit the industry this week. Julian Hofmann gives us the details on MP Evans and AEP Plantations.Timestamps00:00 Intro01:07 Cranswick13:07 How to pick a perfect pension pot23:13 Palm oil plantations Listen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Investing during volatility, property & Vodafone : Companies and Markets Show 15.05.2026 33Min.

  This week’s show kicks off with a look at FTSE 100 Reit Land Securities, which reported full-year figures. It is still shifting away from offices in favour of shopping centres and residential developments, but with gilt yields spiking again this week, will it remain a victim of circumstances beyond its control? Hugh Moorhead dives into the details. More updates on that hereDiscussion then turns to Vodafone – its annual results were met with a mixed reaction, but its turnaround plan has found favour over the past year and continues at pace. Alex Newman and Dan Jones discuss whether doubling down on the UK and Africa makes sense. More on Vodafone hereTo conclude, we delve into our Big Read , which, in the face of current geopolitical uncertainty, outlines five portfolios for five possible futures. Julian Hofmann explains why investors should consider scenario planning rather than predictions, and outlines what some of these different eventualities will mean for a range of investments.Read more here: Landsec struggles to convince on new strategyVodafone moves forward with greater clarityFive ways to invest during turbulent timesTime stamps00:00 Intro01:08 Land Securities09:41 Vodafone21:29 How to shield your portfolioListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Meeting PZ Cussons’ CEO: Lee and the IC 12.05.2026 41Min.

  PZ Cussons, known for brands such as Imperial Leather, Carex and Original Source, has been around for more than a century, but its shape and focus today are very different from its origins.The FTSE 250 consumer goods giant is focusing on core brands and expanding overseas, and owns market-leading products in a host of countries around the world.But M&A deals, both good and bad, have meant there are questions to be asked around the company’s strategy, balance sheet and future priorities, all of which Alex Newman and Lord John Lee put to CEO Jonathan Myers.The trio discuss PZ Cussons’ expansion overseas, its share price valuation, where it can save costs, the stake owned by one of the founders’ families and much more.Let us know your thoughts, or if you have any questions or any suggestions for future guests, by emailing alex.newman@ft.comListen to more podcasts from Investors’ Chronicle by clicking here or heading to Apple, Spotify and YouTubeTimestamps00:00 Intro00:49 What is PZ Cussons?02:56 Lord Lee's involvement06:33 Strategic review10:31 Offers for African business13:39 Value of the brands16:02 Is the valuation low?19:34 Innovation and building new brands24:32 Manufacturing efficiencies27:02 Impact of Iran War29:48 Shareholder register31:15 Involvement of family owners40:08 Confidence in future outlookInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• How to pick funds, Diageo & hotel stocks: Companies and Markets Show 08.05.2026 38Min.

  As potential jet fuel shortages unnerve summer holidaymakers, airlines have been reporting shaky demand as people hold off from booking trips. But what of the hoteliers? In this week’s episode, we discuss the quarterly update from InterContinental Hotels (IHG), owner of Holiday Inn, as well as recent figures from Premier Inn owner Whitbread (WTB). Mark Robinson explains why the picture is brighter than many fear, and how long he expects that to continue.We then talk through the latest figures from drinks giant Diageo (DGE), which has found life very hard for some time now. But with a dividend cut out the way, its CEO, former Tesco boss Sir Dave Lewis, is due to outline his new strategy this summer. Are things looking up? Or is it too soon to say for the Guinness maker – Mark has the answers. More on Diageo hereFinally, we tackle this week’s Big Read, asking the fundamental question for any investor – how to pick a fund. Val Cipriani explains our five-step guide, giving you a checklist of things to look for, mistakes to avoid, and more.Read more here:Our five-step guide to picking the best fundsShares soar on (another) Taco feastInterContinental reports rising revenues, but travel concerns lingerTimestamps00:00 Intro01:13 Hotels14:09 Diageo22:24 Fund selectionListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• ‘There’s a lot of value in emerging markets’ - Paul Niven of F&C 05.05.2026 45Min.

  The F&C Investment Trust (FCIT) is as close to a household name as a fund can be. Founded in the 19th century, its global stocks “one-stop shop” nature has made it a favourite for investors for decades, and despite changing managers and fund houses, it’s remained true to its aim.Val Cipriani sits down with current manager Paul Niven, who discusses the trust’s approach to using other fund managers, where he sees value in stock markets, the pros and cons of a concentrated portfolio and why, despite cutting back on US companies, he believes there’s still value to be found.Timestamps00:00 Intro00:21 What is F&C01:45 How the trust is structured05:01 Use of 3rd party managers7:31 Trying to beat the benchmark10:02 Why F&C is so diversified14:21 Reacting to the war in Iran20:32 Is the market too optimistic?22:46 Emerging markets25:17 Trends away from the US28:05 Magnificent seven32:05 Nvidia35:11 Private equity42:15 Software exposure and AI disruptionInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Electrifying your portfolio & chemical stock struggles: Companies and Markets Show 01.05.2026 41Min.

  It’s the end of April, and a reopening of the Strait of Hormuz is looking further away than ever. Its closure looms large over everything else at the moment, and risk asset investors are starting to worry for the first time in several weeks. However, there are still signs of life across the market. In this week’s episode, we look at some of those rebound stories and discuss whether recoveries can persist in the face of ongoing stress. Michael Fahy discusses the electronics sector – companies such as Renishaw, Oxford Instruments and XP Power, which are belatedly starting to benefit from supplying the semiconductor industry.We then move to this week’s Big Read on electricity and electrification. Could the defining, if sometimes forgotten, story of the past century be the characterising feature of this century, too? Alex Newman has the answers.Finally, Julian Hofmann talks about chemicals supplier Synthomer, whose refinancing and improved full-year figures provide the first signs of recovery. It also had some interesting comments to make about the Iran War.Timestamps00:00 Intro01:13 Electronics companies12:06 Electrification32:37 SynthomerListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Isas, apps and platforms: Where to invest your money 27.04.2026 25Min.

  Choosing your first stocks and shares Isa can be overwhelming. There are apps, brokerages and dozens of providers, all claiming to be the best. In this episode of Women and Wealth, funds editor Val Cipriani and personal finance editor Holly McKechnie walk you through how to choose the right one for you, whether you're investing for the first time or moving beyond cash savings.They explain everything from what beginners should look for, which fees really matter, the differences between providers and the common mistakes to avoid. This episode will get you started on the path of investing, with Investors' Chronicle your handy guide as you grow your portfolio.*At the time of recording, AJ Bell charged a trading fee for regular investing. The provider has since announced that this will be scrapped from May.Women and Wealth is the monthly podcast series from Investors’ Chronicle. You can listen to and watch the episodes, alongside our other podcasts, on Apple, Spotify and YouTube.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Primark spin-off, robotics & US equity funds: Companies and Markets show 24.04.2026 37Min.

  It’s another week and another break-up of a FTSE 100 business. This time it’s the turn of Associated British Foods, which has announced plans to spin off Primark into a separate entity. Erin Withey discusses the demerger and explains why management of both businesses will also have their hands full dealing with a range of issues arising from the Iran War and elsewhere.After that, we delve into investment ideas in robotics, our Big Read of the week. The word robot has been around for a century, and the tech has been present in factories for over 60 years, but could the current age herald a step change in uses of the technology, and more widespread adoption than ever before? Mark Robinson reports.To finish, we consider US equity funds. With the Magnificent Seven – or certain members of the group – struggling this year, is it time to look at a different set of active managers to gain exposure to US shares? Val Cipriani outlines some potential options.Timestamps00:00 Intro01:12 Primark spin-off12:14 Robotics27:33 US equity fundsListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Meeting Primary Health Properties CEO: Lee and The IC 21.04.2026 51Min.

  Primary Health Properties (PHP) is one of the UK market’s best-known income stocks.With a record of 30 consecutive annual dividend increases and the strongest tenant base in the real estate sector, it has long been a favourite of investors looking for a secure, growing yield.Since chief executive Mark Davies took over from founder and chair Harry Hyman in 2024, the story has been more dramatic. Last year, in a high-profile contest, Davies saw off KKR in its bid for Assura and combined with its major listed peer to form a Reit with £6bn of assets.We discuss the logic of the deal, the landlord’s relationship with the NHS, debt, politics, why John believes PHP is a “no brainer” investment and the appropriate yield he, Davies and Hyman believe the stock warrants.Let us know your thoughts, or if you have any questions or any suggestions for future guests, by emailing alex.newman@ft.comListen to more podcasts from Investors’ Chronicle by clicking here or heading to Apple, Spotify and YouTube.Timestamps:00:00 Intro02:42 What is PHP?05:29 Becoming a growth stock08:20 Being a REIT14:49 Maintaining dividend growth18:60 How new opportunities arise22:37 How lease negotiation works26:33 Assura acquisition34:54 Move to unsecured loans37:15 The challenge of the political landscape40:41 Potential for a buyout45:23 Goodwins update49:55 Small cap stock updateInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Intertek, renewable trusts & shares on a tear: The Companies and Markets Show 17.04.2026 28Min.

  In this week’s episode we delve into FTSE 100 testing and assurance company Intertek (ITRK), which has had an action-packed few days: board changes, a strategic review, and a rejected bid offer from a private equity investor. Valeria Martinez explains everything you need to know.Then we look to renewable energy investment trusts, which have enjoyed increased interest over the past month amid the US/Iran war and resultant rise in power prices. Holly McKechnie tells us which trusts stand to benefit the most, and we consider whether greater urgency over the energy transition means better times ahead.Finally, we discuss microfinance lender ASA International (ASAI.L), which has been on a tear over the past year. Julian Hofmann reports on what’s been driving the business forward and whether it can continue.Read more here:Intertek rejects EQT takeover approachThe complete guide to buying investment trustsASA International’s microfinance push pays offTimestamps00:00 Intro01:01 Intertek9:45 Renewables trusts19:19 ASAListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTubeInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• The ceasefire, Africa and Senior: Companies and Markets Show 10.04.2026 34Min.

  In this week’s show we discuss the temporary ceasefire in the Middle East – if it is really appropriate to call it that – and consider whether the announcement has done anything to lighten a global economic outlook that has looked increasingly gloomy for the past few weeks. Investors have certainly priced in a fair amount of relief. We discuss if they are right to do so, and what happens next. Julian Hofmann has the details.Our big read this week, meanwhile, is about a continent that could be particularly affected by the energy shock – Africa – albeit, as Chris Akers explains, it’s far from a monolithic bloc and there’s the potential for both winners and losers. Chris tells us about the UK companies that have set up in Africa and why the investment opportunities take in everything from resources to telecoms.To finish, we delve into specialist engineer Senior, which feeds into many of the hot sectors of the moment, but it’s had a topsy turvy time of it in recent months. That has now culminated in a takeover approach – Mark Robinson discusses whether that represents good value for holders and whether a rival approach could emerge.Read more hereCeasefire updates, Shell & Close Brothers: Markets liveHow investors can make the most of the Africa opportunitySenior backs £1.3bn private equity buyoutTimestamps:00:00 Intro01:15 US/Iran ceasefire12:46 Africa26:20 SeniorListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube or by clicking hereInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Unilever’s $45bn deal, Berkeley & tech: Companies and Markets Show 03.04.2026 32Min.

  We begin the show with consumer goods giant Unilever (ULVR) – soon to be somewhat smaller, given the $45bn spin-off of its foods business to US spice and sauce maker McCormick (MKC). The reaction to the news, though, has been distinctly underwhelming. Erin Withey examines what it means for Unilever’s future.Then we turn to Berkeley (BKG), the housebuilder, which, this week, published an unscheduled negative update, less than three weeks after it told investors everything was fine. Hugh Moorhead explores what the company’s retrenchment says about the UK’s wider housebuilding goals.Lastly, we discuss what is perhaps the UK’s very own meme stock – microcomputer maker Raspberry Pi (RPI). Its shares rose almost 50 per cent in one day following its full-year results. Arthur Sants explains how the company ended up part of the AI boom and whether there’s a decent business underneath it all.Read more here:Why the market is turning against Unilever’s $45bn food dealRaspberry Pi ups sales volumes but margins tightenEpisode timestamps:00:00 Intro01:21 Unilever09:54 Berkeley Group18:30 Raspberry PiListen to more podcasts from Investors’ Chronicle Apple, Spotify and YouTube or by clicking hereInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• ‘It’s hard to find safe assets’ - Jacob de Tusch-Lec of Artemis Global Income | IC Interviews 31.03.2026 37Min.

  At £5.7bn, Artemis Global Income is one of the largest global income funds available to UK investors. It posted enthusiastic returns in 2025, well above what you would normally expect from this kind of strategy. But has this made the portfolio holdings expensive, and where does it go from here?Manager Jacob de Tusch-Lec talks to Val Cipriani about being nervous about what comes next, whether the war in Iran means 2022 all over again for stock markets, and how he feels about AI. Timestamps00:00 Intro01:07 What is Artemis Global Income?02:26 Three buckets04:21 Importance of valuation05:40 Recent performance10:49 Are we going back to 2022?16:20 AI investments19:19 Financial industry24:05 Is there value in the UK?27:26 Recent changes32:50 When to sell34:21 Emerging marketsInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Navigating the Strait, Goodwin and annuities: The Companies and Markets Show 27.03.2026 43Min.

  It’s been another seesaw week as the world weighs up the chances of an end, or at least a cessation, to hostilities in the US-Israeli war with Iran. President Donald Trump is taking a more conciliatory tone, but in this case, a U-turn is not in his gift alone and with Iran talking tough, the optimism of earlier in the week has started to ebb as we record today’s show.The episode starts by looking in more detail at some of the implications of the continued pressure on the Strait of Hormuz, the key global shipping route that has in effect been put out of action by the war. Alex Hamer is here to discuss the implications for everything from energy (and UK energy policy) and fertiliser to helium. The broad conclusion is of course that prices are going up, but we dig into the detail during the show.We move on to look at one early victim of the uncertainty in the shape of UK engineer and private investor favourite Goodwin (GDWN), whose shares halved this week on a disappointing trading update. Alex Newman will consider the extent to which some of these problems were of its own making – or at least down to poor communications.Finally, amid all the uncertainty – and rising bond yields – the stability of an annuity may look more attractive to some of those in or approaching retirement. Holly McKechnie is with us to talk about the pros and cons of the products.Episode time stamps:00:00 Intro01:33 Strait of Hormuz17:38 Goodwin33:52 AnnuitiesListen to more podcasts from Investors’ Chronicle Apple, Spotify and YouTube or by clicking hereInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Student Loans: What every graduate needs to know 24.03.2026 22Min.

  Val Cipriani and Holly McKechnie are back with a new episode of Women & Wealth, and unpack the UK’s student loan system and growing debt burden facing graduates.The funds editor and personal finance editor for Investors’ Chronicle explore why women often end up paying more, how repayment rules really work, and what the system means for your finances.Student loans have undergone several reinventions over recent years, but the current focus is largely on Plan 2 loans, taken out by undergraduates between 2012 and 2022. These have become particularly onerous following changes made by the Conservative government in 2022.Val and Holly look at the three key repayment terms to be aware of, and the other factors that affect how much you pay back.Maternity, salary gap and employment opportunities in fields studied more by women mean that the student loans issue disproportionately affects them. Val and Holly discuss this, as well as how to minimise your exposure and pay less over the long term.Timestamps:00:00 Intro00:58 The state of student loans01:50 Plan 1, Plan 2, Plan 5 student loans04:40 Why Plan 2 is so bad08:20 Loan or tax10:15 Why it impacts women more13:45 Is Plan 5 better?15:11 What you can do about it17:22 When you should overpayRead more on the student loan issue on Investors' Chronicle:How to survive the student loan systemWomen and Wealth is the monthly podcast series from Investors’ Chronicle. You can listen to and watch the episodes, alongside our other podcasts, on Apple, Spotify and YouTube.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.
• Industrials, smart investing & real estate: The Companies and Markets Show 20.03.2026 31Min.

  On this week’s show, we begin with industrials. It was only a month or so ago that the sector was being touted by many as a potential safe haven from AI disruption. Then the US/Israel war with Iran began, and the merits of energy-intensive physical assets were hastily reconsidered.But of course not all industrials are alike. Today we take a look at top-performing Diploma (DPLM) – crucially more of a distributor than a manufacturer – whose shares rose by a fifth after its latest trading update. We’ll also examine Essentra, which has had a far worse time of it for many years but is now starting to see improvements. Valeria Martinez is here to ask whether both companies can maintain their operational progress in the face of a variety of external threats.Our big read this week is all about the price investors pay for buying and selling shares. Most DIY investors will know whether or not they’re charged a trading fee when they buy or sell investments, but what actually happens behind the scenes when those trades are executed? Hugh Moorhead is here to explain more and ask whether the system could be improved.Lastly, we look at another sector that’s likely to feel a significant second-order impact from the war: real estate. And yet, as we’ll discuss, the mood at a recent industry conference was relatively upbeat. Hugh will touch on everything from housebuilders to the London office market and more.Timestamps00:00 Intro01:35 Diploma06:02 Essentra11:54 Mechanics of trading22:39 Real estateInvestors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.