UKX FTSE 100 Index

FTSE 100 Falls as Property, Travel, Mining Stocks Drop

0818 GMT - The FTSE 100 index drops 0.5%, or 34 points to 7289 as losses for property, travel and mining stocks eclipse gains for B&M European Value Retail. The latter's shares rise 0.7% after analysts described the budget retailer's 1Q trading as positive despite lower revenue. Other risers include oil and energy stocks as Brent crude edges 0.1% higher to $113.88 a barrel. Still, cruise operator Carnival falls 10% following recent price-target cuts by brokerages, while International Consolidated Airlines and TUI also fall. British Land and Land Securities are among the property sector's biggest fallers and Anglo American and Antofagasta are mining's largest losers as precious and base-metal prices drop. (philip.waller@wsj.com)

 
Companies News: 

Capita Sees 2022 Revenue Growth in Line with Views

Capita PLC said Wednesday that revenue for the first half of the year was in line with expectations and that it remains on track to deliver revenue growth in 2022.

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UK Government Minded to Clear Parker-Hannifin Takeover of Meggitt

The U.K. government said late Tuesday that it is 'minded' to accept Parker-Hannifin Corp.'s undertakings to address its concerns over the U.S. company's planned 6.3 billion pound ($7.68 billion) takeover of Meggitt PLC.

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Mulberry FY22 Pretax Profit Rose Significantly

Mulberry Group PLC reported Wednesday a significant rise in pretax profit for fiscal year 2022 and said that its performance for the first quarter of fiscal 2023 is ahead of the same period a year earlier.

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DP Aircraft I to Raise up to $750,000 via Tap Issue

DP Aircraft I Ltd. said Wednesday that it plans to raise up to $750,000 via a tap issue, and that it will use the proceeds as additional working capital.

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Shoe Zone Set to Post Rise in Pretax Profit for FY22

Shoe Zone PLC said Wednesday that it expects to end its fiscal 2022 year with a rise in pretax profit, as its performance for the third quarter has seen strong margin improvements and cost savings.

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PPHE to Launch Share Buyback of Up to GBP1.7 Mln; Dividend Dependent on Performance

PPHE Hotel Group Ltd. said Wednesday that it was launching a share buyback program of up to 1.7 million pounds ($2.1 million), and that the declaration of a dividend remained subject to a continuation of its performance in the year to date.

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McBride Says Lender Waives June Covenant Tests to September

McBride PLC said Wednesday that its banking group has agreed to waive the June covenant tests until Sept. 30, and that it is performing in line with market expectations.

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Lookers Sees 1H Adj Pretax Profit Fall, Warns of Supply Restrictions

Lookers PLC said Wednesday that it expects to report a fall in underlying pretax profit for the first half of 2022, but that it is ahead of expectations, and warned of both new and used vehicle supply restrictions for the remainder of the year.

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Mulberry FY 2022 Pretax Profit Rose Materially Boosted by UK, China Sales -- Update

Mulberry Group PLC on Wednesday reported a significant rise in pretax profit for fiscal year 2022, and said that its performance for the first quarter of fiscal 2023 is ahead of the same period a year earlier.

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UK Government Minded to Clear Parker Hannifin Takeover of Meggitt -- Update

The U.K. government said late Tuesday that it is minded to accept Parker Hannifin Corp.'s undertakings to address its concerns over the U.S. company's planned 6.3 billion pound ($7.68 billion) takeover of Meggitt PLC.

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Union Jack Starts Capital Reduction Process to Enable Shareholder Returns

Union Jack Oil PLC said Wednesday that it is pursuing a reduction of capital exercise through the court procedure following approval by shareholders at the general meeting held on Tuesday.

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Moonpig FY 2022 Pretax Profit Rose; Backs FY 2023 Guidance

Moonpig Group PLC said Wednesday that pretax profit for fiscal 2022 rose in its first full-year performance after floating, and that it remains confident in its fiscal 2023 guidance.

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Trakm8 FY 2022 Pretax Loss Narrowed; Warns of Supply Issues

Trakm8 Holdings PLC said Wednesday that pretax loss narrowed in fiscal 2022, but that it has started the new financial year with continuing supply challenges and inflationary pressures.

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Safestay 1Q Revenue Ahead of Views; 2021 Underlying Profit Effected by Covid-19 Closures

Safestay PLC said Wednesday that revenue for the first quarter of 2022 was slightly ahead of management's expectations, and that its 2021 underlying profit before disposals will reflect the effect of pandemic-related closure periods.

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Windar Photonics Shares Dive on Expected 2021 Revenue Fall

Shares in Windar Photonics PLC fell 58% in early trade Wednesday after the company said that it expects to report a 50% fall in 2021 revenue due to project delays in China, and that these accounts will be delayed past the regulatory deadline.

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Oxford Cannabinoid Says 11-Month Performance Was as Expected

Oxford Cannabinoid Technologies Holdings PLC said Wednesday that it expects to report results in line with expectations for the eleven months ended April 30.

 
Market Talk: 

Mulberry Seen Set to Deliver on Strategy

0811 GMT - Mulberry Group is well-positioned to deliver on its strategy thanks to its strong heritage and recognizable handbag offer, Shore Capital says in a research note. The British luxury brand, which had continued momentum in fiscal 2022 with group revenue growing by 32% on year, is also expected to benefit from geographical and product expansion in the long term, Shore says. Also, China remains a key driver of growth, it says. Mulberry's focus on full-price sales and increased volume efficiencies has driven improved margins, the U.K. investment group adds. Shares rise 6.8% to 315.00 pence. (sabela.ojea@wsj.com; @sabelaojeaguix)

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

June 29, 2022 04:39 ET (08:39 GMT)

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