The FTSE 100 closed higher on Monday amid blockbuster merger and
acquisition news and as China cut interest rates in the face of
slowing growth, AJ Bell's investment director Russ Mould said. "The
Chinese GDP figures were no worse than expected. However, the
central bank's decision to ease rates reflects concern about a
property market slowdown and the impact of tighter restrictions
brought in to limit the spread of the Omicron variant of Covid-19,"
Mould said. Meanwhile, GlaxoSmithKline stock closed up 4.1% after
it received a GBP50 billion bid from consumer-goods company
Unilever for its consumer-healthcare business.
Companies News:
Leeds Group Swung to 1H Pretax Loss, Shares Fall
Shares in Leeds Group PLC fell Monday after the company said it
swung to a pretax loss in the first half of fiscal 2022 as its
performance was hurt by restrictions across Europe to curb the
Omicron coronavirus variant.
---
Hurricane Energy Production Met Views, Revenue Rose in 2021
Hurricane Energy PLC said Monday that production met
expectations and revenue rose in 2021, and it expects to soon pay
off its bond debt.
---
Yourgene Health Raises Guidance Again
Yourgene Health PLC said Monday that it expects to beat upgraded
market revenue forecasts for the year, its third upgrade since
October.
---
Clean Power Hydrogen to Raise GBP50 Mln in AIM Float
Clean Power Hydrogen PLC said Monday that it plans to raise 50
million pounds ($68.4 million) and float on London's junior AIM,
with trading expected to start early next month.
---
Forward Partners Appoints Lloyd Smith as CFO
Forward Partners Group PLC said Monday that it has appointed
Lloyd Smith as chief financial officer with effect from March
21.
---
Tavistock Investments to Buy Morgans for GBP3.7 Mln
Tavistock Investments PLC said Monday that it has agreed to buy
independent financial advisory group Morgan Financial Group
Holdings Ltd. for 3.7 million pounds ($5.1 million).
---
M.P. Evans 2021 Crop, Production Increased; Announces Special
Dividend
M.P. Evans Group PLC said Monday that crop and production
increased in 2021 and it has announced a special dividend.
---
Oxford BioMedica CEO to Step Down
Oxford BioMedica PLC said Monday that Chief Executive Officer
John Dawson will retire from the company.
---
M&G Appoints Barclays Treasurer Kathryn McLeland as CFO
M&G PLC said Monday that it has appointed Kathryn McLeland
as the new chief financial officer of the company.
---
Unilever Sets Out Ambition to Expand in Health Products --
WSJ
Unilever PLC said it wants to significantly expand its footprint
in health, beauty and hygiene, and plans to sell off slower-growing
parts of its ice cream-to-soap consumer brands empire to fund major
acquisitions.
---
VTB Bank 2021 Net Profit Rose
VTB Bank said on Monday that net profit and total assets for
2021 rose.
---
BlueRock Diamonds Revenue Rose 68% in 4Q
BlueRock Diamonds PLC said Monday that its revenue rose 68% in
the fourth quarter, reflecting higher diamond prices.
---
Unilever Sets Out Ambition to Expand in Health Products --
Update
Unilever PLC said it wants to push further into health, beauty
and hygiene products at the expense of slower-growing food brands,
laying out its biggest strategic shift in years after disclosing a
$68 billion approach for GlaxoSmithKline PLC's consumer-health
business.
---
Genflow Biosciences Shares Rise in Stock Market Debut
Shares of Genflow Biosciences PLC rose 31% on Monday as the
company started trading on the London Stock Exchange, implying a
market capitalization of 30.7 million pounds ($42 million).
Market Talk:
Ashmore Needs Forward Momentum to Realize Value
1314 GMT - Shares in Ashmore Group drop 1.6% after the fund
manager said second-quarter assets under management fell $4.0
billion because of negative investment trading of $1.8 billion and
net outflows of $2.2 billion. While there is still a small
shortfall in AUM relative to estimates, arguably the greater weight
on estimates comes from weaker markets this month, Panmure Gordon
says. "The company's relative performance is fine, but relative
performance when absolute returns are negative is not a great
selling point," Panmure analysts say. "There is a growing value
argument, rarely the case for Ashmore... but, as ever, some forward
momentum is needed."
---
Taylor Wimpey Looks Healthy After Bold Strategy
1248 GMT - Taylor Wimpey's bold strategy early in the
pandemic--going on a spending spree with the future in mind,
enabled by a capital raise--is already beginning to bear fruit,
propelling forward an increasingly healthy business, Interactive
Investor says. The U.K. house builder's shares remain attractively
priced compared to the historical average, but they have languished
behind peers because of the previous fundraising, dividend removal,
and fears of a weak U.K. economy dragging prices down, Interactive
Investor says. "While the shares have yet to recover from these
simultaneous blows, investor sentiment towards the company and its
prospects is undaunted, and the market consensus of the shares
still stands defiantly at a strong buy," the investment platform
says. Shares are up 2.8% at 158.25 pence.
---
Eurowag Update Seen Indicating a Strong FY 2022
1202 GMT - Eurowag's update for FY 2021 indicates a strong
performance despite the supply-chain disruptions and
pandemic-related uncertainties, Jefferies says. While these factors
could affect the U.K.-listed integrated payments and mobility
platform, for FY 2022, Jefferies projects net revenue of around 20%
on an on-year basis and an Ebitda margin of around 46% boosted by
its individualized pricing model and better mix within its tolls
business. As the performance update gave an "early proof" point,
the U.S. bank keeps its buy recommendation with a price target of
220 pence. Shares trade 12% higher at 102 pence.
---
High UK Power Prices Seen Benefiting RWE, Uniper, Greencoat
UKW
1131 GMT - High power prices are the main takeaway from the U.K.
electricity market in the fourth quarter of 2021, when generators
with merchant exposure are likely to have benefited the most, RBC
Capital Markets says. This includes RWE, whose gas-fired plants
performed well, suggesting additional earnings from high prices,
RBC says. Similarly, Uniper also saw positive CCGT performance, and
also benefited from continued coal-fired power production. In
addition, Greencoat UKW saw onshore wind generation rise 52%, well
exceeding the U.K. average. On the negative side, data for SSE
looks less positive, with lower gas, hydroelectric and offshore
wind production for the fourth quarter, RBC says.
---
Ashmore Has a Lot of Value on the Long-Term Stance
1110 GMT - Ashmore Group's performance update for the quarter
shows short-term uncertainty, which has sent its share price down
by 25% over the past six months, Peel Hunt says. However, the
company still has a lot of value for those looking for a long-term
stance, the U.K. brokerage says. "Ashmore today is as strong as
ever--there is still significant potential to outperform in the
coming years," Peel Hunt says. Shares trade down 1.8% at 284.2
pence.
---
GlaxoSmithKline Consumer Healthcare Sale Would Dampen Appetite
for Stock
1109 GMT - GlaxoSmithKline's plans to retain but split up its
Consumer Healthcare division is widely viewed as an event that
could crystallize value, Jefferies says. This is why a potential
sale of the division--which comes as the company confirmed reports
of acquisition proposals by Unilever--is likely to dampen appetite
for the stock, Jefferies says. "At least initially we expect many
shareholders would fear a large acquisition and the risk of
inferior returns," the investment bank says. The British pharma
major has rejected Unilever's proposals and fairly so, given that a
GBP50 billion bid reflects a modest 10% acquisition premium,
Jefferies says.
---
Access Intelligence Hit Hard in Southeast Asia by Covid-19
1059 GMT - For U.K.-based information-and-marketing company
Access Intelligence, the effect of Covid-19 has been harsh in
Southeast Asia as corporate and public-sector customers reduced
spending, finnCap says. The brokerage says that while the company's
post-pandemic prospects remain strong, with planned investment set
to continue and even accelerate, it lowers its revenue and earnings
expectations for fiscal 2022 and fiscal 2023. "We look forward to
continuing proof of execution in the U.K. and Australia/ New
Zealand, and evidence of recovery in south east Asian customer
spend, at which point with a healthy cash buffer throughout the
forecast horizon, the valuation can respond and confidently look
into 2023 and beyond," it says. FinnCap lowers its target price on
the stock to 210 pence from 225 pence. Shares are down 24% at 116
pence.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
January 17, 2022 12:30 ET (17:30 GMT)
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