FTSE 100 Rises, Led by BP and Standard Chartered After
Earnings
The FTSE 100 rises 0.3% to 7106 points, led by energy giant BP
and lender Standard Chartered after well-received earnings. BP
shares advance 2.3% after raising its second quarter dividend and
launching a $1.4 billion share buyback following
stronger-than-expected underlying profit on a replacement cost
basis for the period. Standard Chartered gains 2.0% after the bank
reported a bigger-than-forecast rise in first-half profit, resumed
interim dividend payments and announced a $250 million share
buyback.
Companies News:
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.
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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.
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BP Raises Dividend, Launches $1.4 Bln Share Buyback
BP PLC said Tuesday that it increased the dividend for its
second quarter and launched a $1.4 billion share buyback.
---
Travis Perkins Swings to 1H Pretax Profit; Reinstates
Dividend
Travis Perkins PLC said on Tuesday that it swung to a first-half
pretax profit as revenue rose, and that it was reinstating
dividends.
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Domino's Pizza's 1H Profit After Tax More-than-Doubled
Domino's Pizza Group PLC reported Tuesday a more-than-doubled
profit after tax for the first half of 2021 and said that its
second-half performance has started well, benefiting from strong
total order count growth.
---
Belvoir 1H Revenue Rose Significantly, Surpassing Pre-Pandemic
Levels
Belvoir Group PLC said Tuesday that revenue for the first half
of the year rose significantly from the same period in 2020 and
2019, boosted by material revenue growth across both divisions amid
a buoyant housing market.
---
Genel Energy Reports 1H Profit, Raises Dividend
Genel Energy PLC on Tuesday reported a profit for the first half
of the year and raised the interim dividend.
---
A.G. Barr Expects 1H Revenue Increase; Backs FY 2022
Guidance
A.G. Barr PLC said Tuesday that it expects revenue for the first
half of fiscal 2022 to be around 18% ahead of the prior year's, and
backed its guidance for the year.
---
Bank of Ireland's 1H Operating Profit Rose Materially
Bank of Ireland Group PLC on Tuesday said operating profit
increased significantly for the first half of the year, surpassing
pre-pandemic levels.
---
Kellner Group 1H Profit Rose
Keller Group PLC said Tuesday that despite a fall in revenue,
first-half profit rose on better-than-expected trading, overcoming
slumps caused by the coronavirus pandemic and foreign-exchange
headwinds.
---
Rockhopper Exploration Yet to Receive News on Italian
Arbitration Decision
Rockhopper Exploration PLC on Tuesday said that it is yet to
receive news regarding the outcome of its arbitration against the
Italian government.
---
Cambridge Cognition 1H Revenue Rose 50%, on Track for Full-Year
Profitability
Cambridge Cognition Holdings PLC said Tuesday that it achieved
significant growth in revenue in the first half and that it remains
on track to be profitable in 2021.
---
Rotork 1H Pretax Profit Rises, Declares Dividend; CEO to Step
Down Next Year
Rotork PLC on Tuesday reported an 8.2% rise in pretax profit for
the first half of the year on revenue that was also slightly
higher, returned to the dividend list and reinstated its full-year
guidance.
---
Filtronic Achieved Profitability in FY 2021
Filtronic PLC on Tuesday reported that it swung to a profit in
the year ended May 31.
---
Merit Group Says FY 2021 Pretax Loss Was Wider Than Previously
Reported
Merit Group PLC said Tuesday that its pretax loss for the year
ended March 31 was 3.1 million pounds ($4.3 million), rather than
GBP2.9 million as previously reported.
Market Talk:
Consumer Spending Recovery in Advanced Economies Is Expected to
Continue in 2021, 2022
0749 GMT - Warnings that the consumer recovery in advanced
economies might be faltering look premature, Oxford Economics' lead
economist Adam Slater says. "While there are near-term downside
risks due to the rise of the Delta variant of the coronavirus, the
recovery path was always going to be bumpy and drawn out," Slater
says. OE continues to expect two strong years of consumer spending
growth in 2021 and 2022. Advanced economy households are sitting on
a large pile of excess savings accumulated over the last year, he
says. OE expects G-7 consumer spending to rise by 6.4% this year
and 5.5% next year, "the fastest back-to-back rises since the early
1970s," Slater says.
---
Fresnillo 1H Results in Line With Expectations; Dividend
Disappointed
0712 GMT - Shares in Fresnillo are up 0.3% after the
Mexico-based gold-and-silver mining company reported first-half
results in line with expectations. Ebitda of $747 million increased
7% half over half, but was 1% below consensus, Jefferies says. The
interim dividend was disappointing and 49% below expectations but
Jefferies says distributions aren't a massive part of Fresnillo's
investment story. Finally, capital expenditure for 2021 was lowered
by 15% which, in the bank's reading, is a deferral rather than
absolute savings. Jefferies has a buy rating on the stock with a
1,300 pence target price.
---
BP Boosts Shareholder Returns
0709 GMT - BP PLC boosts returns to shareholders after higher
oil prices benefited its earnings. BP reported a replacement cost
profit--a metric similar to the net income figure that U.S. oil
companies report--of $2.38 billion for the three months ended June.
30, from a loss of $17.67 billion in the year-earlier period. The
company said it will increase its dividend 4% and buy back $1.4
billion in shares over the next quarter. BP shares rise 2.5% in
early trade.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
August 03, 2021 04:13 ET (08:13 GMT)
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