FTSE 100 Edges Higher in Early Trade
0918 GMT – The FTSE 100 edges up 0.1% to 7294.75 in early trade, with gains for heavyweight miners offset by falls in oil-linked stocks, retailers and banks. Sentiment is soured slightly after Federal Reserve minutes showed various participants felt central banks should be prepared to taper and raise rates faster if inflation remained strong. Trade on Thursday is expected to be subdued, however, due to the U.S. Thanksgiving holiday. “The U.S. Thanksgiving celebrations should ensure a relatively muted affair later into the day,” IG says. Miner Antofagasta is the biggest riser, up 1.9%, while Johnson Matthey is the biggest faller, down 1.1% as the stock remains out of favor after Wednesday’s 1H results. (firstname.lastname@example.org)
UK Energy Supplier Bulb Enters Government-Funded Administration
British energy supplier Bulb Energy Ltd. has entered into special administration after it declared itself insolvent on Monday.
Studio Retail Expects Adjusted Pretax Profit to Drop in FY 2022; Shares Fall
Shares in Studio Retail Group PLC on Thursday fell after the company said it expects to post a decline in full-year adjusted pretax profit, despite a significant rise in pretax profit for the first half of fiscal 2022.
Vivo Energy Agrees to $2.3 Bln Takeover By Vitol Group
Vivo Energy PLC said Thursday that it has agreed to a $2.3 billion takeover by VIP II Blue B.V., a wholly-owned, indirect subsidiary of Vitol Investment Partnership II Ltd.
Mothercare Swung to Pretax Profit in 1H
Mothercare PLC said Thursday that it swung to a pretax profit in the first half of fiscal 2022 as it implemented measures to improve profitability amid a return to pre-pandemic levels of business.
Motorpoint Sees FY 2022 Profit Significantly Ahead of Expectations
Motorpoint Group PLC said Thursday that it expects performance for the year ending March 31 to be significantly ahead of expectations, and reported an improved profit for the first half.
Mitchells & Butlers FY 2021 Pretax Loss Narrowed on Recovery in Demand
Mitchells & Butlers PLC on Thursday reported a narrowed pretax loss for fiscal 2021 and said it is returning to profitability as demand recovers from pandemic-related shutdowns.
Motorpoint Appoints John Walden as Chairman
Motorpoint Group PLC said Thursday that it has appointed John Walden as nonexecutive chairman with effect from Jan. 10.
Headlam Expects 2021 Revenue to Meet Market Forecasts, Adjusted Pretax to Beat
Headlam Group PLC said Thursday that revenue is on track to meet market forecasts for the year with adjusted pretax profit expected to be “marginally ahead.”
James Latham 1H Profit Rose
James Latham PLC on Thursday reported a significantly improved profit for the first half of the fiscal year, but warned of continuing challenges in the supply chain and high costs.
GENinCode Revenue Rises in Europe, as Expected
GENinCode PLC said Thursday that its European revenue increased in the second half, in line with market guidance.
ECO Animal Health Shares Fall After 1H Results
ECO Animal Health Group PLC shares fell 16% in early trade Thursday after the company reported a reduced pretax profit for the first half of fiscal 2022, which it blamed on a fall in China pig prices.
Tharisa Sees FY 2021 EPS in the Range of $0.37 to $0.38
Tharisa PLC said Thursday that it expects to report earnings per share of between $0.37 and $0.38 for the year ended Sept. 30.
MacFarlane Group Expects to Beat Previous Guidance for 2021
MacFarlane Group PLC said Thursday that it expects to beat previous earnings expectations for the year after a robust performance to date.
Nuformix Shares Rise on Positive Trial Studies
Shares in Nuformix PLC rose 21% in early trade Thursday after the company reported positive data from initial pre-clinical studies of its new treatment NXP002 for idiopathic pulmonary fibrosis.
Michelmersh Brick to Report Market-Beating 2021 Revenue, Profit
Michelmersh Brick Holdings PLC said Thursday that it expects to report market-beating revenue and profit for the year.
Omega Diagnostics Shares Fall on Widened 1H Loss, Expired UK Government Contract
Shares in Omega Diagnostics Group PLC fell sharply Thursday after the company reported a widened loss for the first half of the financial year and confirmed that its contract with the U.K. Department of Health and Social Care has expired.
Hill & Smith Says Four-Month Revenue Rose 4%, Is on Track to Hit 2021 Profit Forecast
Hill & Smith Holdings PLC said Thursday that revenue for the four months ended Oct. 31 has risen 4% on an organic constant-currency basis and that it remains on track to meet full-year consensus profit forecasts.
Mears Sees 2021 Revenue Above Guidance; Adjusted Pretax Profit at Top End of Range
Mears Group PLC said Thursday that it expects to beat management’s revenue expectations for 2021 with adjusted pretax profit at the top end of the previously guided range, as it benefits from good demand and contracts volume.
Hochschild Shares Set for Re-Rating After Peru Clarification
0757 GMT – The Peruvian government’s latest statement regarding Hochschild’s Inmaculada and Pallancata mines is a clear, proactive and positive step which indicates the importance of foreign investment and reaffirms the rule of law, RBC Capital Markets says. Although there will remain risks around increased taxes and community support, the incident may in the end serve to de-risk Peru, and in the end enhances confidence in the Hochschild investment case, RBC says. “The political risking of Hochschild shares were already elevated heading into this incident and we believe that the shares are now set for a rerating. We reiterate our outperform rating,” the bank says.
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(END) Dow Jones Newswires
November 25, 2021 04:52 ET (09:52 GMT)
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