FTSE 100 Rises Ahead of BOE Policy Decision
0756 GMT - The FTSE 100 rises 0.3% to 7091 points as traders
await the Bank of England's latest policy decision. The BOE
announces its decision at 1100 GMT and is widely expected to leave
its policies unchanged but investors will be looking for any hints
on the timing of reining in stimulus. Deutsche Bank economists say
they aren't expecting "big changes" in the central bank's meeting
minutes and policy statement, but the "risks are shifting towards a
more hawkish Monetary Policy Committee in the very near-term, with
economic data tracking slightly better than the BOE expected in
May." Meanwhile, Bunzl shares rise 2.5% after the U.K.
distribution-and-outsourcing group said it expects higher
first-half revenue and maintained its full-year revenue guidance.
(renae.dyer@wsj.com)
Companies News:
Sage Commits to Net-Zero Emissions by 2040
Sage Group PLC on Thursday pledged to achieve net-zero emissions
by 2040 and to halve its carbon emissions by 2030 as part of its
new sustainability and society strategy.
---
Rathbone Brothers Raises GBP50 Mln in Discounted Share
Placing
Rathbone Brothers PLC said Thursday that it has raised 50
million pounds ($69.8 million) in a share placing aimed at funding
the acquisition of Saunderson House Ltd.
---
Bunzl Expects 1% Rise in 1H Revenue
Bunzl PLC said Thursday that it expects to report a 1% rise in
revenue for the first half of 2021 at actual exchange rates and a
6% to 7% gain at constant exchange rates, and backed its revenue
guidance for the year.
---
John Wood Group Anticipates 12% Adjusted Earnings Drop for
1H
John Wood Group PLC on Thursday forecast that it will report a
21% revenue drop and a 12% decline in underlying earnings for the
first half of 2021.
---
Next 15 Says Current Trading Is Ahead of Management
Expectations
Next Fifteen Communications Group PLC said Thursday that trading
in the first four months of the fiscal year has continued ahead of
management expectations.
---
Lone Star Doesn't Plan Offer for Senior
U.S. private-equity investor Lone Star Global Acquisitions Ltd.
said Thursday that it doesn't plan to make an offer for U.K.
engineering company Senior PLC.
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Big Yellow Raises GBP100 Mln as Expected via Share Placing
Big Yellow Group PLC said Thursday that it has raised gross
proceeds of around 100 million pounds ($139.6 million) as expected
via a discounted share placing to expand its portfolio of
acquisitions.
---
XPS Pensions FY 2021 Profit, Revenue Rose
XPS Pensions Group PLC reported Thursday a rise in pretax profit
for fiscal 2021 and said that its outlook is positive.
---
STM Group Says Performance Remains in Line With Expectations
STM Group PLC said Thursday that it continues to perform in line
with management expectations.
---
Crest Nicholson Swings to 1H 2021 Pretax Profit
Crest Nicholson Holdings PLC said Thursday that it swung to a
pretax profit for the first half of fiscal 2021 and that the board
was confident the U.K. housing market will remain robust past the
Sept. 30 stamp duty deadline.
---
Tower Resources to Raise GBP50,000 via Share Subscription
Tower Resources PLC said Thursday that it plans to raise 50,000
pounds ($69,810) via a share subscription with its chairman and
chief executive officer to boost its working capital while the
company waits for funds from other sources, which is expected in
the coming months.
---
Tandem Says 25-Week Revenue Performance Was Positive
Tandem Group PLC said Thursday that its performance continued to
be positive for the 25 weeks to June 22, with revenue being
significantly ahead of the year-earlier period, and that the board
is confident about delivering another strong year.
---
LXI REIT to Raise GBP75 Mln to Fund Investment Opportunities
LXI REIT PLC said Thursday that it plans to raise 75 million
pounds ($104.7 million) via a share placing and will use the money
toward investment opportunities.
---
Allergy Therapeutics' Operating Profit to Surpass Market
Views
Allergy Therapeutics PLC said Thursday that its operating profit
for fiscal 2021 is expected to be well ahead of market views,
boosted by high sales.
---
Westminster Group Expects 2021 Pretax Profit, Revenue to Meet
Views
Westminster Group PLC said Thursday that the board expects 2021
pretax profit and revenue to meet expectations as restrictions are
starting to ease, the company has recently secured contracts and
has a strong pipeline.
---
Round Hill Music Royalty to Raise Minimum $50 Mln to Fund
Acquisitions
Round Hill Music Royalty Fund Ltd. said Thursday it plans to
raise a minimum of $50 million via a C-share offer and will put the
money toward acquisitions.
---
Various Eateries Posts 1H Loss; Post-Lockdown Recovery Exceeds
Expectations
Various Eateries PLC on Thursday reported a loss for the first
half of the fiscal year, but said it has outperformed management
expectations since pandemic-related restrictions were lifted.
---
Ariana Resources Says Kiziltepe Production Remains in Line With
Guidance
Ariana Resources PLC said Thursday that its Kiziltepe gold mine
in Turkey continues to perform in line with guidance.
---
Verditek Falls on Stock Shortfall Linked to Theft at Factory
Shares in Verditek PLC on Thursday fell after the company said
that it has suffered a theft at its factory of Lainate, Milan,
suffering a stock shortfall of around 300,000 pounds
($418,860).
---
Vitec Group Shares Rise as 2021 Adjusted Pretax Profit Seen
Above Market Views
Shares in Vitec Group PLC rose Thursday after the company said
that full-year adjusted pretax profit is expected to be materially
ahead current market expectations despite uncertainty regarding the
effects of electronic component and raw material shortages.
---
Blackstone Increases St. Modwen Properties Offer to GBP1.27
Bln
St. Modwen Properties PLC said Thursday that it has agreed an
increased and final 1.27 billion pound ($1.77 billion) cash offer
from Blackstone Group Inc.
---
Robinson Year-to-Date Earnings Lower Than in 2020; Shares
Fall
Shares in Robinson PLC fell Thursday after the company said that
year-to-date earnings are lower than in the year-earlier period,
and that this is a result of the short-term transitional effect of
the rise in the price of resin.
---
First Property Group Suspends Final Dividend After FY 2021 Loss,
Shares Drop
Shares in First Property Group PLC fell Thursday morning after
it reported a loss for fiscal 2021 and suspended the final
dividend.
---
UK Takeover Panel Agrees Extension to Augean, Morgan Stanley
Takeover Deadline
Augean PLC said Thursday that the U.K. Takeover Panel has agreed
to extend the deadline for Morgan Stanley Infrastructure Inc. to
make an offer for the U.K. waste-management company or walk away in
order that they can continue talks.
Market Talk:
Sterling Could Fall if BOE Stays Accommodative
0707 GMT - Sterling could weaken if the Bank of England refrains
from signalling it could scale back stimulus in a policy decision
later, Commerzbank says. "I am not sure whether the BOE will send
the signal the sterling bulls are hoping for," Commerzbank currency
analyst Thu Lan Nguyen says. It might be too early to rein in
support and the recent rise in inflation wasn't high enough,
meaning there is "considerable potential for disappointment for
sterling today," she says. GBP/USD is flat at 1.3969 and EUR/GBP
rises 0.1% to 0.8546. The BOE's decision is at 1100 GMT.
(renae.dyer@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
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(END) Dow Jones Newswires
June 24, 2021 04:14 ET (08:14 GMT)
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