London, Jan 27, 2026, 09:33 GMT — Regular session
Ashtead Group plc shares slipped in early London trading Tuesday, dropping 32 pence, or 0.63%, to 5,066 pence. The Sunbelt Rentals parent kicked off the day at 5,108 pence, fluctuating between 5,048 and 5,120 pence. The stock’s market cap stood near £21.0 billion. 1
The shift unfolds amid investors searching for new clues on U.S. construction and industrial activity, key areas where Ashtead earns the bulk of its revenue via its North American rental network. The Federal Reserve kicked off its Jan. 27-28 policy meeting Tuesday, with markets bracing for Wednesday’s decision. 2
Ashtead is gearing up for a shift of its primary listing to New York in March, bringing corporate actions back into focus. Alongside this move, the company plans a fresh $1.5 billion buyback that will kick off with the relisting. CEO Brendan Horgan highlighted growing “mega project activity,” even though local non-residential construction remains subdued. 3
On Tuesday, Ashtead revealed another buyback under its current repurchase plan. The company purchased 72,300 shares for treasury stock on Jan. 26, paying an average of 5,150.6381 pence each. J.P. Morgan Securities handled the trade as broker. 4
The stock dropped 2.49% on Monday, ending the day at £50.98 and trailing the FTSE 100’s modest gains, MarketWatch data shows. About 917,000 shares changed hands, falling short of its 50-day average volume near 1.2 million. 5
Beyond company news, attention remained on the UK rates environment Tuesday, following fresh evidence of rising inflation at stores. UK shop prices climbed 1.5% year-on-year in January, marking the quickest annual increase since February 2024, according to the British Retail Consortium. 6
But buybacks won’t shift the cycle. RBC Capital Markets analysts flagged in December that “tough underlying trading conditions” and a lull in hurricane activity have dragged on recent results, underscoring how softer construction and reduced storm-driven demand continue to pressure margins. 7
Traders are gearing up for a key sector update from the U.S.: United Rentals will hold its fourth-quarter and full-year 2025 conference call on Thursday, Jan. 29 at 8:30 a.m. ET. This call frequently moves the needle for equipment rental stocks. 8
