The FTSE 100 made a slow start to the week, with some major healthcare players pulling the index down despite good progress among miners, according to CMC Markets analyst Michael Hewson. "Mining stocks in particular have been looking strong after Anglo American reported a bumper first-half earnings report, posting record earnings," the analyst says. On the downside, AstraZeneca shares fell despite winning EU approval for its Ultomiris drug for children and adolescents, Hewson says.

 
Companies News: 

Block Energy Shareholder Requests Second Meeting to Commission Investigation

Block Energy PLC said Monday that shareholder Forest Nominees Ltd. has requested a second general meeting to consider commissioning an independent investigation into company affairs.

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CentralNic Expects Adjusted Ebitda Jumped 32% in 1H

CentralNic Group PLC said Monday that it expects to report a 56% increase in revenue and a 32% rise in adjusted earnings before interest, taxes, depreciation and amortization for the first half of the year.

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Duke Royalty Hits Quarterly Cash Revenue Performance in 1Q

Duke Royalty Ltd. said Monday that its cash revenue for the first quarter of fiscal 2022 was above management views, adding that it expects to post a record cash performance in the second quarter.

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Kingswood Chairman and CFO to Both Leave

Kingswood Holdings Ltd. said Monday that Chairman Kenneth "Buzz" West is retiring from the role immediately and that Chief Financial Officer Patrick Goulding will be leaving the business.

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ECO Animal Health Profit Rose; CEO Marc Loomes to Step Down

ECO Animal Health Group PLC said Monday that fiscal 2021 pretax profit rose and that Chief Executive Marc Loomes will retire on Dec. 31.

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Metal Tiger to Raise A$5 Mln

Metal Tiger PLC said Monday that it is raising 5 million Australian dollars (US$3.7 million) to make further investments.

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Prospex Energy Appoints Mark Routh as CEO

Prospex Energy PLC said Monday that it has appointed Mark Routh as chief executive officer and that Edward Dawson, its current managing director, will stand down with immediate effect from the company's board.

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Plant Health Care 1H Revenue Rose, Gross Margin Slipped

Plant Health Care PLC said Monday that its first-half revenue rose, as did its operating expenses, and that its gross margin slipped because of currency effects.

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NewRiver REIT Agrees to Sale of Hawthorn Pub Business for GBP222.3 Mln

NewRiver REIT PLC said Monday that it has entered into an agreement for the sale of the entire issued capital of its pub business, Hawthorn Leisure REIT Ltd., for around 222.3 million pounds ($305.6 million).

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Schroder European Real Estate Collects Majority of 3Q Rent

Schroder European Real Estate Investment Trust PLC said Monday that it has collected most of the rent due for the third quarter, and that the value of its portfolio has risen slightly.

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Mobile Streams Appoints New Chairman, Finance Director

Mobile Streams PLC said Monday that it has appointed Robert Moore as nonexecutive chairman and Rama Uthayanan as finance director with immediate effect.

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Science Group's 1H Pretax Profit More than Doubled

Science Group PLC said Monday that its results for the first half of the year were ahead of the board's upgraded expectations.

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Heathrow Airport 1H Pretax Loss Narrows, Warns of 2021 Passenger Numbers Below 2020

London's Heathrow airport said Monday that its first half pretax loss narrowed and that due to the U.K. government's travel restrictions stemming from the pandemic, the airport could see less passengers in 2021 than it did in 2020.

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Mobile Streams Launches LiveScores Service in Mexico

Mobile Streams PLC said Monday that the launch of its LiveScores football 365 service into Mexico is expected to add revenue of around $140,000 in the first year.

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RTC Group Shares Fall After Afghanistan Business Warning, 1H Results

Shares in RTC Group PLC dropped Monday after the company said it expects a period of lag in replacing revenue from its Afghanistan business, and reported a profit for the first half.

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FirstGroup's Largest Shareholder Calls for CEO to Resign

Coast Capital said Monday that it is calling for the resignation of FirstGroup PLC's chief executive officer and two independent nonexecutive directors, after opposing the sale of the company's U.S. operations.

 
Market Talk: 

Higher Costs to Drag Petra Diamonds' Profitability

0944 GMT - Petra Diamonds last week guided for higher-than-expected costs in the year to June 2022 and this is likely to also affect the second half of fiscal 2021, Peel Hunt says. As a result, and despite strong realized pricing, the brokerage cuts its fiscal 2021 Ebitda estimate by 6% to $121 million and by 3% to $172 million for the current financial year. For fiscal 2023, Peel Hunt reduces the Ebitda estimate by 13% to $213 million reflecting lower Finsch production and higher costs. "The price and volume recovery will, we expect, drive substantial increases in profitability for Petra," it says. The diamond-mining company is a corporate client of Peel Hunt.

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Reckitt Benckiser Expected to Report Lower Profit and Sales for 1H

0942 GMT - Reckitt Benckiser is expected to report a decline in sales and reduced profit for the first half of the year when it releases its earnings on Tuesday. The consumer-goods company--which houses Dettol, Harpic and Durex among its brands--is seen posting a 1H pretax profit of GBP1.23 billion, according to an analyst's forecast, taken from FactSet. This compares with GBP1.56 billion for the same period a year earlier. Sales are forecast to come in at GBP6.72 billion, according to a consensus estimate of three analysts' projections, also taken from FactSet. This compares with GBP6.91 billion for the prior-year period. Shares are down 0.5% at 6,234 pence.

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Unilever's Share-Price Potential Is Limited

0927 GMT - Unilever's shares have limited scope to rise further, Landesbank Baden-Wuerttemberg says, cutting its recommendation on the Anglo-Dutch consumer goods group to hold. While Unilever's half-year results topped consensus expectations modestly, higher raw-material costs and further investment in brand development are likely to weigh on the company's margin in the second half, LBBW says. Management is now only assuming an adjusted operating margin at the previous year's 18.5% rather than the slight increase expected in April. "On the basis of our updated discounted cash-flow model, we calculate a fair value per share of 4,300 pence. After lowering the outlook for the operating result and the associated price decline, we believe the price potential is limited," LBBW analysts say. Shares fall 1% to 4,099 pence.

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NewRiver's Sale Price for Hawthorn Pubs Backed to Highlight Value

0848 GMT - NewRiver REIT's disposal of its Hawthorn community pub business for GBP222.3 million is an attractive exit price at the top end of the valuation range, Shore Capital says. The real-estate trust's business is high-quality and the disposal of it for an excellent price is a good outcome, demonstrating its value creation and consistent with its strategy to focus on core retail activities, Shore says. "Consistent with the strategy set out in recent times, we reiterate our buy stance on NewRiver stock, noting the wide discount to [net asset value] and the much improved balance sheet metrics on disposal," the investment group says. Shares are up 1.8% at 88.5 pence.

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Deliveroo Looks Well-Placed for Grocery-Delivery Push

0809 GMT - Deliveroo has a smaller absolute gross merchandise value than its food-delivery peers, but its first-mover status in U.K. grocery gives it an advantage and this should now be completed by a push into dark stores, Jefferies says. The London-based, food-delivery company--which is backed by Amazon--has put in place initiatives to accelerate takeaway orders and has a first-mover advantage in grocery, Jefferies says. Deliveroo's subscription plan is a tool for unifying both categories, the bank says. "These are conditions for the profitable migration of [gross merchandise value] from offline to online, irrespective of what its competitors are doing. Investors shouldn't fear the fact Deliveroo is 'smaller,'" Jefferies says.

 

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

July 26, 2021 12:27 ET (16:27 GMT)

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