ii view monthly round-up: September's winners and losers

AI prospects and the outlook for interest rates dominated the month. Analyst Keith Bowman looks at corporate events during September.

7th October 2026 15:17

by Keith Bowman from interactive investor

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Mixed results in September

The tech heavy Nasdaq Composite index rose 1.9% in September, while concerns about higher interest rates left the broad S&P 500 down 0.5%. London's FTSE-All Share index fell 2%.

On the corporate front, shares in property and warehouse logistics play Tritax Big Box Ord (LSE:BBOX) lost 7% last month. Tritax recently announced the completion of a one million square foot warehouse which is to be let to online retail giant Amazon.com Inc (NASDAQ:AMZN).

Tritax owns and manages a portfolio of over 500 large and small logistics warehouse properties across the UK. The FTSE 250 company is also pursuing a series of data centre development opportunities. The group’s portfolio value stood at £7.68 billion as of late June, down 2.7% from late December.

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Online retailer AO World (LSE:AO.) fell 6%. The FTSE 250 constituent announced it had completed the acquisition of photographic retailer Jessops.

Sales in the half-year to late September were up 5.5% year-over-year. The Bolton headquartered retailer continued to predict annual profit in line with City forecasts of £54.4 million versus last year’s £50.5 million.

WH Smith (LSE:SMWH) shares lost 5%. The now purely travel focused UK and overseas retailer predicted profits no worse than feared by analysts.

Full-year sales for stores away from the UK and North America fell 4%, hit by store closures and an exit from Norway. Further exits from Denmark, Sweden and the Netherlands are due next year.

Airline Wizz Air Holdings (LSE:WIZZ) fell 4%. The FTSE 250 company outlined a series of medium-term ambitions as well as upgrading Q2 revenue hopes on the back of a better-than-expected summer.

Group net debt of €5.13 billion (£4.41 billion) as of late June compares to a current stock market value of £1.07 billion. Wizz trimmed previously planned second-half capacity by 5%.

Outside of the UK, Volkswagen AG (XETRA:VOW) downgraded 2026 profit hopes, leaving its shares down 8% in September. The automaker's many brands include Audi, Skoda, Seat and Cupra.

Management sighted factors including a further deterioration in the market environment, especially in China, as well as a demand shift towards electric vehicles against a backdrop of higher fuel prices.

To the upside, shares in Saga (LSE:SAGA) soared 16%. The provider of services to older consumers flagged a faster than expected recovery, underpinned by a push to utilise external partners.

First-half revenue to late July rose 12% to £367.5 million, fuelling a near doubling in adjusted profits to £46.6 million. Saga now expects to achieve profit and debt reduction targets earlier than its original 2030 objective.

Hilton Food Group (LSE:HFG) climbed 13% after the FTSE 250 company increased expected annual profits as a transformation plan to refocus on core meats and freshly prepared foods continued to progress.

Hilton processes and packages foods from red meat to fish using automated facilities and robotics for customers including Tesco (LSE:TSCO) and Koninklijke Ahold Delhaize NV (EURONEXT:AD). First-half currency adjusted sales climbed 12% to £2.29 billion.

Alcoholic drinks maker C&C Group (LSE:CCR)announced the acquisition of the UK wholesale arm of Japanese brewer Asahi.

C&Cowns brands including Bulmers and Tennent's and Matthew Clark Bibendum (MCB), a distributor to the hospitality industry. The deal sees MCB assume all customer and supplier relationships alongside a leased depot and assets including vehicles and stock. C&C shares rose 5% during the month.

Finally, shares in US company Snowflake Inc Ordinary Shares (NYSE:SNOW) improved 3%. The analyser and moderniser of data announced accelerating sales growth, driven by tools to help build AI agents or productivity enhancers for corporate customers.

Third-quarter product revenue up 37% $1.49 billion (£1.1 billion) narrowed the firm's net loss to $191.7 million (£142 million) from $297.9 million a year ago.

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