FTSE 100 Falls as Traders Brace for Fed Decision

0923 GMT - The FTSE 100 falls 0.7% to 7442 with house builders leading the declines as investors brace for the Federal Reserve's next meeting that could confirm it will soon start raising interest rates. The Fed will announce its policy decision on Wednesday. "The current consensus is for an initial [rate] hike in March, followed by a further two or three rises which could take the rate to 1% by year-end," Interactive Investor analyst Richard Hunter says. "While the moves are increasingly necessary given relatively rampant inflation, they also bring the likelihood of dampening earnings prospects." (renae.dyer@wsj.com)

 
Companies News:

Activist Investor Nelson Peltz Buys Stake in Unilever

Trian Fund Management LP, the activist hedge fund run by Nelson Peltz, has acquired a stake in Unilever PLC, according to people familiar with the matter, adding pressure to the packaged food and consumer goods giant in the wake of its failed $68-billion bid for GlaxoSmithKline PLC's consumer-health business.

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MyHealthChecked 2021 Performance Strong, 1H 2022 Prospects Positive

MyHealthChecked PLC said Monday that its performance in 2021 was successful amid the high demand of Covid-19 tests, and that it is confident about its prospects for the first half of 2022.

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TouchStar Sees More Than Doubled Pretax Profit for 2021

TouchStar PLC said Monday that it expects to report more than doubled pretax profit for 2021, above market expectations.

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Belluscura 2021 Demand for Portable Oxygen Concentrator Beats Views

Belluscura PLC said Monday that demand for its portable oxygen concentrator exceeded its views for 2021, and that it remained debt free for the whole year.

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Spirax-Sarco to Buy Cotopaxi for GBP13.3 Mln

Spirax-Sarco Engineering PLC said Monday it has agreed to buy Cotopaxi Ltd. from China's Business Intelligence of Oriental Nations Corp. for 13.3 million pounds ($18 million).

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Empyrean Energy Starts Legal Proceedings Against Cyber Fraudster

Empyrean Energy PLC said Monday that it has started legal proceedings in Singapore against the company believed to have committed a cyber fraud.

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Mirriad Advertising Expects Lower 2021 Revenue

Mirriad Advertising PLC said Monday that it expects to report a fall in revenue for 2021 and that year-on-year growth in the U.S. has been strong.

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Gulf Marine Services Expects 2022 Ebitda to Grow In Line With Market Views

Gulf Marine Services PLC on Monday forecast that its earnings will rise in 2022 in line with market expectations.

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TomCo Energy Raises GBP1.3 Mln to Fund Drilling at Utah Site

TomCo Energy PLC said Monday that it has raised 1.3 million pounds ($1.8 million) via share issue to fund three exploration wells at the Tar Sands II site in Utah.

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De La Rue Expects FY 2022 Operating Profit Below Market Views

De La Rue PLC said Monday that it anticipates that adjusted operating profit for fiscal 2022 will be below market expectations because of the impact of the Omicron and Delta Covid-19 variants at manufacturing facilities.

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AdvancedAdvT's Latest Proposal to Buy M&C Saatchi Rejected

AdvancedAdvT Ltd. said Monday that it has submitted an improved takeover proposal to M&C Saatchi PLC which it says has been rejected by the U.K. advertising company.

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Computacenter Expects Rise in 2021 Adjusted Pretax Profit, Revenue

Computacenter PLC said Monday that it expects 2021 adjusted pretax profit and revenue to rise, and that the strength of its performance in the fourth quarter was encouraging as it entered 2022.

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Big Technologies Sees FY 2021 Adjusted Earnings Above Market Views

Big Technologies PLC said Monday that it expects to deliver a performance for the full year above market expectations, boosted by new customer wins.

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Amigo Holdings Warns of Insolvency if New Business Program Isn't Approved

Amigo Holdings PLC said Monday that if its new business program doesn't receive court approval Amigo Loans Ltd. will enter a wind-down program or insolvency.

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Vodafone, Iliad Are Discussing Combination of Italian Units, Reuters Reports

--Vodafone Group PLC and Iliad are in talks to combine their units in Italy in a deal that could create a business with revenue of nearly 6 billion euros ($6.81 billion), Reuters reports, citing sources familiar with the matter.

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Spectra Contract Wins to Boost 2022 Revenue by at Least $700,000

Spectra Systems Corp. said Monday that it has secured three contracts worth at least $700,000 of additional unforecasted revenue for 2022.

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Corero Network Security Expects 2021 Swing to Maiden Pretax Profit

Corero Network Security PLC said Monday that it expects to report a swing to maiden pretax profit for 2021, and that revenue is expected to be broadly in-line with market expectations.

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LendInvest Says AuM Reached GBP2 Bln Milestone

LendInvest PLC said assets under management reached the two billion pound ($2.71 billion) milestone as of Jan. 17.

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Microlise Says 2021 Revenue Grew in Line With Views; Warns of Supply Chain Issues

Microlise Group PLC said Monday that 2021 revenue and earnings before interest, taxed, depreciation and amortization grew in line with market expectations, but warned of supply chain issues lasting longer than expected.

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Block Energy Shares Rise on Strong Testing Prospects for JKT-01Z Well

Shares in Block Energy PLC rose Monday after the company said testing on well JKT-01Z in Georgia has commenced and delivered strong results, noting that rapid monetization of the gas production will be achieved.

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GYG Restarts Contract at Nobiskrug Shipyard in Germany; Shares Rise

GYG PLC shares rose Monday after the company said that it resolved one refit contract with the new owners of the Nobiskrug shipyard, in Germany, and that it is in discussions to restart two others.

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Shanta Gold Forecasts Production Growth in 2022 -- Commodity Comment

Shanta Gold Ltd. on Monday forecast that its gold production will grow this year. Here's what the East Africa-focused mining company had to say at its year-end update:

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Artemis Resources to Raise GBP5 Mln in London IPO

Artemis Resources Ltd. said Monday that it plans to raise 5 million pounds ($6.8 million) and float on London's junior AIM, with trading expected to start on Feb. 7.

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Gulf Keystone Says 2021 Oil Production Was at Upper End of Views

Gulf Keystone Petroleum Ltd. said Monday that its 2021 oil production was at the upper end of guidance, and expects it to grow this year.

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Petropavlovsk Appoints Stanislav Ploshchenko as New CFO

Petropavlovsk PLC said Monday that it has appointed Stanislav Ploshchenko as its new chief financial officer, with immediate effect.

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Etalon 4Q New Sales, Cash Collection Fell

Etalon Group PLC said Monday that new sales fell in the fourth quarter of 2021, with cash collection also decreasing.

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Fulcrum Utility Chief Steps Down, Antony Collins Appointed as Interim CEO

Fulcrum Utility Services Ltd. said on Monday that Chief Executive Officer Terry Dugdale will step down from the role with immediate effect, and that Antony Collins has agreed to join the group as interim CEO "whilst a permanent successor is sought."

 
Market Talk:

Diageo Portfolio Looks Healthy, Costs Savings to Drive Further Growth

0924 GMT - Diageo's portfolio is healthy and costs savings will help to drive further value, Jefferies says. The share momentum of the liquor maker--which owns Johnnie Walker whisky and Tanqueray gin--is a result of higher marketing investments and improved execution, but also backed by the ambition to boost the share of total beverage alcohol in 2020-2030 to 6% from 4%, Jefferies says. "The share of throat opportunity provides a tailwind on top of traditional category drivers such as demographics, middle-class growth, and 'premiumisation'," the bank says. Jefferies has a buy rating on the stock and a target price of 4,800 pence. Shares are down 0.8% at 3,724.0 pence. (michael.susin@wsj.com)

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Novopet Doubles Polymetal's Exposure to Copper

0920 GMT - The announcement of an initial mineral resource for the Novopetrovsky project marks an achievement for Polymetal's greenfield exploration strategy carried out through joint ventures with junior partners, RBC Capital Markets says. The estimates released Monday suggest that Novopet has 2.4 million ounces of gold-equivalent resources. Adding the site to the portfolio increases Polymetal's total gold-equivalent resources by 8.3% to around 24 million ounces, RBC estimates. And most importantly, it more than doubles the company's exposure to copper, in line with its strategic goals, the bank notes. The mining company's current valuation is attractive, but RBC warns that the political situation in Russia and Kazakhstan could continue putting pressure on shares. (jaime.llinares@wsj.com)

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Activist Stake in Unilever Should Increase Debate Over Asset Disposals

0916 GMT - An activist hedge fund's reported acquisition of a stake in Unilever should have a positive share-price reaction and increase debate over asset disposals at the company, Jefferies says. Media reports said activist investor Nelson Peltz's Trian hedge fund has taken an undisclosed stake in Unilever, adding pressure on its CEO after his company failed in its bid to buy GlaxoSmithKline's consumer-health business. The bank says Trian's thesis is to unlock value by disposals at Unilever's slow-growing foods businesses, or by a split between the foods and the Home & Personal Care businesses, via a sale or spinoff. "Particularly as Unilever's recent further derating ... has widened the potential gap between a holistic and sum-of-the-parts valuation," the bank says. Shares are 5.2% higher at 3,865.0 pence. (michael.susin@wsj.com)

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TIM Would Get Only Minor Boost From Vodafone-Iliad Tie-Up in Italy

0842 GMT - A tie-up in Italy between Vodafone and Iliad could ease competition in the country but the impact on Telecom Italia would probably be fairly limited, Thomas Coudry at Bryan Garnier says. Press reports suggest the two telecommunications companies are in talks over merging their Italian operations, but given that retail mobile markets are a minor part of TIM's business, the upside to earnings would be low, Coudry says. The transaction could also face antitrust obstacles, he says. Nevertheless, a prospective deal between two competitors should entail a higher bid for TIM from private-equity firm KKR, Coudry adds. Vodafone and Iliad didn't immediately respond to a request for confirmation of the reports.

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

January 24, 2022 04:42 ET (09:42 GMT)

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