London Shares to Open Slightly Lower Amid Global Covid-19 Concerns
August 03 2021 - 3:20AM
Dow Jones News
FTSE 100 to Open Slightly Lower Amid Global Covid-19
Concerns
The FTSE 100 is seen opening slightly lower amid concerns about
the fast-spreading Delta coronavirus variant derailing the global
economic recovery. Spreadbetting firm IG expects the London index
to fall 5 points after ending Monday's session up 49 points. After
U.S. stocks closed lower after the July ISM manufacturing report
missed expectations, CMC Markets analyst Michael Hewson says: "With
a number of U.S. states reinstating mask mandates and tightening
restrictions, the optimism of a few weeks ago is now being replaced
by doubts as to how resilient the recovery we've seen so far this
year can remain, as we head into the autumn and the weather starts
to get colder."
Companies News:
Hiscox Swung to 1H Pretax Profit, Resumes Dividend
Hiscox Ltd. reported Tuesday a swing to a pretax profit for the
first half of 2021, said that it is confident about its performance
for the rest of the year and that it has resumed its dividend.
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BP Raises Dividend, Launches $1.4 Bln Share Buyback
BP PLC on Tuesday said it increased the dividend for the second
quarter and launched a $1.4 billion share buyback.
---
Direct Line Insurance 1H Pretax Profit Rose; Buyback Program
Continues
Direct Line Insurance Group PLC on Tuesday reported an 11% rise
in first-half pretax profit on the back of higher operating profit
and launched the second part of its share buyback program announced
in March.
---
Lamprell Sees 2021 Ebitda Near Break-Even Levels
Lamprell PLC said Tuesday that its full-year expectations for
earnings before interest, taxes, depreciation and amortization
remain at broadly break-even levels.
---
Fresnillo 1H Pretax Profit Rose
Fresnillo PLC said Tuesday that pretax profit increased as
revenue rose for the first half of 2021, and that it was on track
to meet its 2021 production guidance.
---
TP ICAP's 1H Performance Was Stable
TP ICAP Group PLC said Tuesday that it delivered a stable
performance in the first half of the year, and that it expects to
end 2021 with revenue broadly in line with the previous year's.
---
Joules Group Swung to a FY 2021 Pretax Profit
Joules Group PLC reported on Tuesday a swing to a pretax profit
for fiscal 2021, and said it has entered fiscal 2022 in a strong
position, performing in line with management expectations.
---
Greggs PLC Returned to 1H Pretax Profit, Declares Dividend
Greggs PLC on Tuesday reported a swing to pretax profit for the
first half of 2021 on revenue that rose, returned to the dividend
list and said it expects full-year profit to beat its previous
expectations.
Market Talk:
Miners Delivering Where it Matters Most
Miners have so far this reporting season delivered solid results
"where it matters most" and notched healthy cash generation, Citi
says. The highlight to-date is the step up in shareholder pay outs
via dividends as well as buy backs. "The companies have generally
reported solid numbers and upbeat outlooks despite softer
production numbers at some of the miners," Citi says. Stock
reactions have also been generally positive, although equities also
remain heavily influenced by the macro environment, says the bank.
It will be watching upcoming results from Glencore, BHP and
Antofagasta, with a focus on incremental cash returns over and
above ordinary dividends.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
August 03, 2021 03:07 ET (07:07 GMT)
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