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6 articles
Unbundling was meant to sharpen research economics. In the UK small-cap market it has too often thinned the information base, widened spreads and raised the cost of price discovery. This article examines the coverage gap and the practical routes to closing it in 2026.
Public campaigns are rarely the start of the argument about a company's capital; they are the point at which it becomes visible. Boards that can point to a pre-agreed, evidence-led doctrine across buybacks, dividends and reinvestment are better placed to defend decisions and to know when to hold a position.
The UK mid-market refinancing story is less a single cliff edge than a corridor of maturity dates, covenant tests and lender negotiations stretching into 2027. This analysis maps the pressure points by sector and explains why lender composition, covenant resets and rescue capital structures deserve as much attention as the maturity tower itself.
Headline leverage multiples describe what was paid, not what protection exists. In UK mid-market lending, the loan documentation decides how much of the equity thesis a company can execute before control passes — and where value quietly leaks away before earnings ever disappoint.
UK bank capital ratios remain robust by headline measures, but resilience is not a single number. This field guide separates accounting capital from genuine loss-absorbing capacity and sets out what investors should check in Pillar 3 disclosures during 2026.
The overhaul of the UK listing rulebook has generated a great deal of commentary and rather less evidence. This analysis separates the structural change from the noise, and asks what the revised regime genuinely does for capital formation in London — and where the binding constraints still sit.