AJ Bell Money & Markets

Why the UK stock market is smashing expectations in 2026, and a crucial warning about fake celebrity investment ads fooling thousands.

Dan Coatsworth also sits down with Filtronic, the company behind an 800% share price surge and major new contracts with SpaceX. Big gains, big deals – and big insights you won’t want to miss.

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[00:09] – Welcome & what’s moving markets this week
[01:21] – How the UK stock market is outperforming the US (again)
[03:48] – Why insider trades at Raspberry Pi & M&S really matter
[07:53] – The Japanese toilet company tipped as the next AI winner
[09:36] – UK inflation: Charlene Young breaks down the latest numbers
[12:20] – Scam alert: Charlene exposes fake celebrity investment ads
[16:26] – Filtronic CEO interview: SpaceX contracts, defence deals & an 800% share price surge
[31:49] – Why annuities are suddenly back in demand
[36:19] – The worrying rise of UK households struggling to earn a decent living
[39:03] – Small caps comeback? Fund manager Richard Penny shares his signs of recovery

On this episode of the AJ Bell Money & Markets podcast, how financial markets reacted to speculation around the future of Keir Starmer as UK prime minister. [02:00] 

Dan Coatsworth and Tom Sieber unpack the latest results from Shell, BP and Barclays. [05:05] 

AI has haunted parts of the stock market once again, with financial comparison websites and insurance brokers the latest victims as investors fear major disruption to their business. [11:12] 

There was some remarkable news in the pharmaceutical space as Novo Nordisk battled Him & Her’s amid controversy around the launch of copycat weight-loss drugs. The pod team explore the weight loss drug space in more detail and explain why one analyst thinks Greggs is a major loser as people slim down. [15:05] 

Dan talks to Trevor Polishchuk from Worldwide Healthcare about how Eli Lilly has scored the top slot in the weight-loss drug market [24:13]. Martin Gamble chats to Oliver Kenyon from RTW Investment about other names to watch in this space. [30:13] 

Charlene Young is on the show to explain why everyone’s talking about student loans. [33:00] 

Finally, Danni Hewson talks to Pathos Communications about its experiences of listing on the UK stock market and the use of AI in the public relations industry. [45:32]

On this week’s episode of the AJ Bell Money and Markets podcast Danni Hewson and Laura Suter dig into what has been another action-packed week with Space X buying fellow Elon Musk vehicle Xai ahead of the companies anticipated IPO [01:32]. Danni checks out why Anthropic’s new AI tools resulted in a global sell off in companies like Sage, Pearson and Legal Star [06:33]. Disney delivered a crowd-pleasing update, but it was all about the exit of CEO Bob Seager and whether this handover will be smoother than the last [10:16]. Plus, Walmart becomes the first retailer to hit a $1 trillion dollar valuation [13:54] and gold and silver prices fall back after Donald Trump unveils his pick for the Fed [16:43].

There’s plenty to go at on the personal finance front with Santander becoming the biggest lender to offer a mortgage with just a 2% deposit for first time buyers [20:46], but new data shows one in three of those taking their first steps on the housing ladder are doing it with a 25% deposit [18:32]. Plus, an estimated 1 million people have missed the self-assessment tax return deadline. [24:59]

We’ve got two guest interviews this week, first with Andrew Westhead, retail director at NS&I, about what makes premium bonds the most popular savings product in the UK [29:56]. And with Kier Starmer becoming the latest world leader to thaw relations with China, Chris Tennant from Fidelity Emerging Markets discusses if that makes China more investible and the allure of companies like TSMC benefiting from the AI boom [44:31].

Welcome to the monthly bonus episode of the AJ Bell Money & Markets podcast all about investment trusts, presented by Dan Coatsworth and Hannah Williford. 

The pair discuss the outlook for activist investors in the investment trust space, the extent to which Saba is involved in the industry, and who could be the next targets. [02:05] 

Dan talks to Ed Cartright, CEO of Arcus Investment, about a desire to replace the manager at Baillie Gifford Shin Nippon and take over running the trust. [15:13] 

This episode’s big theme is the healthcare space [25:37]. Dan talks to Gareth Powell from Polar Capital Global Healthcare Trust about why the sector disappointed for several years and has now burst back to life; as well as the underappreciated importance of generic drugs. 

Martin Gamble talks to Oliver Kenyon from RTW Investments about why big drug companies are buying small biotech firms. 

Dan also chats to Trevor Polishchuk from Worldwide Healthcare on how pharma companies have effectively been forced to invest heavily in the US to avoid tariffs; why Donald Trump has launched a website so consumers can buy medicines direct from manufacturers; and the outlook for drug pricing globally.  

Finally, Hannah interviews Carlos Hardenberg from the Mobius Investment Trust about dealing with political turmoil in emerging markets, and how he safeguards his investments from it. [49:37] 

Download AJ Bell’s free report on activists in the investment trust space: https://www.ajbell.co.uk/investment/investment-trust-report

Charlene Young and Danni Hewson are your hosts in a week where gold and silver continue to take centre stage, with new data highlighting gold’s status as the ultimate safe haven over the last decade (04:15). Danni runs though the latest business and travel news, including pub business rate relief, Boeing picks up its aircraft deliveries, higher fares at Ryanair and the impact of US storms on airlines (09:15). Attention then turns to the US Federal Reserve’s interest rate decision and why President Trump’s upcoming pick for the next Fed chair could be just as market-moving (21:15).

In Pensions Corner, we are joined by AJ Bell’s Rachel Vahey to discuss changes to when you can access your own pensions and claim, the state pension plus the latest on the government’s review of WASPI compensation (25:00). Charlene brings you updates on NS&I cutting savings rates again (32:30), and reveals new stats on what really happens when Junior ISA holders turn 18 (35:20).