FTSE 100 Rises as Energy, Telecom Stocks Rally
The FTSE 100 climbs 0.9% to 7186 points with energy andtelecom
stocks among the best performers. Energy shares Royal Dutch Shell
and BP rally on higher oil prices. Telecom stocks Vodafone and BT
advance as "vague and ongoing takeover speculation" continues to
overhang the sector, Interactive Investor analyst Richard Hunter
says. Travel stocks gain as "investors continue to assess whether
the recent markdowns have been overdone, especially when looking
further out to what could be a promising summer season," he says.
"However, the outlook remains immediately uncertain and the mixed
economic messages, let alone the new [Omicron coronavirus] variant,
are muddying the waters." Meanwhile, London Stock Exchange Group
rises 1.6% after buying Quantile Group to bolster risk management
solutions.
Companies News:
Versarien 1H Pretax Loss Narrowed on Higher Revenue
Versarien PLC said Monday that its pretax loss for the first
half of fiscal 2022 narrowed as revenue increased.
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Fusion Antibodies 1H Pretax Loss Widened, Revenue Rose
Fusion Antibodies PLC said Monday that its pretax loss widened
for the first half of fiscal 2022 despite increased revenue, and it
expects its full-year revenue to meet expectations.
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Cellular Goods Appoints New CEO
Cellular Goods PLC said Monday that it has appointed Anna
Chokina as its new chief executive officer.
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Thungela Sees 2021 Export Coal Production in Line With
Guidance
Thungela Resources Ltd. said Monday that it expects export
saleable production of 14.9 million metric tons of coal in 2021, in
line with the latest guidance.
---
Fulham Shore Swung to 1H Pretax Profit; Sees FY22 Ahead of
Market Expectations
Fulham Shore PLC on Monday reported a swing to pretax profit for
the first half of fiscal 2022 boosted by higher revenue and said it
expects its full-year performance to be ahead of market
expectations.
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Hardide FY 2021 Pretax Loss Widened; Sees Improved Performance
in FY 2022
Hardide PLC on Monday reported a widened pretax loss for fiscal
2021 on lower revenue, but said it expects its performance to
improve next fiscal year as demand recovers.
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Hammerson to Buyback Around GBP2.5 Mln of Shares
Hammerson PLC said Monday that it will start a share repurchase
program, rebuying shares worth up to around an implied 2.5 million
pounds ($3.3 million).
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Apax Global Alpha Funds to Sell Stakes in Unilabs
Apax Global Alpha Ltd. said Monday that two funds that it
advises have agreed to sell their stakes in Unilabs to AP Moller
Holding, with the transaction expected to close in the first
quarter of 2022.
---
3i Infrastructure Invests GBP191 Mln in SRL Traffic Systems for
Majority Stake
3i Infrastructure PLC said Monday that it has invested 191
million pounds ($252.8 million) for a 92% stake in SRL Traffic
Systems, a traffic-management rental company in the U.K.
---
AG Barr Acquires 60% of MOMA Foods, Plans Full Control Within
Three Years
AG Barr PLC said Monday that it has taken a 60% equity stake in
MOMA Foods Ltd. and plans to take full ownership of the company
over the next three years.
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Windward Shares Rise on London Debut
Shares in Windward Ltd. rose Monday as the company began trading
on the AIM.
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Brandshield Reaches $5.0 Mln in Annual Recurring Revenue
BrandShield Systems PLC said Monday that it has suprassed $5.0
million in annual recurring revenue, its primary performance
indicator.
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Spectra Systems' New Customer K-Cup Optical Material Orders
Exceed Expectations
Spectra Systems Corp. said Monday that a new customer has placed
three orders totaling $394,000 for K-cup optical materials since
September.
---
Norman Broadbent Raises GBP75,347 From Large Shareholder
Norman Broadbent PLC said Monday that it has raised 75,347
pounds ($99,729) after issuing shares to shareholder Downing
LLP.
Market Talk:
Uranium Price Could Increase Further, Benefiting Yellow Cake
1010 GMT - The price of uranium is up 60% over the past year,
but it could increase further if political momentum behind nuclear
power continues to gather, AJ Bell says. China plans to build 150
new nuclear plants, France intends to restart its nuclear power
program, Japan's new prime minister favors restarting at least 30
nuclear sites, and the U.K. has begun to champion Rolls-Royce's
modular nuclear reactors, AJ Bell recaps. Yellow Cake is a
London-listed company which buys and holds uranium. "If uranium
prices keep rising, then so will the value of Yellow Cake's 17.9
million pounds of uranium (and it has an option to buy another one
million pounds by next June)," AJ Bell says.
---
Petropavlovsk's Sale of IRC Stake Removes Risk
1006 GMT - Petropavlovsk has completed the sale of its 31.1%
shareholding in iron-ore group IRC, lifting a material source of
downside risk to its shares, Peel Hunt says. This is because the
disposal releases Petropavlovsk from a loan guarantee, which is
likely to mean that the gold miner now has many more refinancing
options at more competitive rates. While the sale was at a low
price, it will allow the company to focus purely on its gold assets
and strategy, Peel Hunt says. "We believe the group now needs to
see a period of quiet delivery to reassure investors, rather than a
repeat of the recent headlines of UGC taking the company to court,"
the brokerage says.
---
Pound to Fall Vs Dollar if Fed Accelerates Tapering, BOE Delays
Rate Rise
0843 GMT - Sterling could weaken against the dollar if the
Federal Reserve accelerates its tapering of asset purchases and the
Bank of England delays raising interest rates this month, MUFG Bank
says. In that case "the timing of the gap between the first Fed and
BOE and rate hikes could be a lot shorter than expected and keeps
risks tilted to the downside for [GBP/USD] in the near-term,"
MUFG's Lee Hardman says. Fed policymakers have signalled a faster
withdrawal of asset purchases at the December 14-15 meeting despite
the emergence of the Omicron coronavirus variant, while BOE
policymaker Michael Saunders on Friday said there could be
advantages to assessing the variant's impact before raising rates.
GBP/USD is last up 0.1% at 1.3252.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
December 06, 2021 06:02 ET (11:02 GMT)
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