FTSE 100 Rises as China Regulatory Concerns Ease
The FTSE 100 rises 0.9% to 7098 points following gains in Asian
stocks as concerns over China's regulatory crackdown ease. China on
Sunday called for closer co-operation with the U.S. after the U.S.
securities regulator tightened controls on Chinese groups seeking
to sell shares on Wall Street. "We see China's move as further
evidence that it continues to value capital markets and foreign
financing," UBS Global Wealth Management analysts say. HSBC shares
rise 1.6% after the bank said first-half pre-tax profit more than
doubled from a year ago. Barclays gains 2.5% as the bank starts a
share buyback on Monday. SSE climbs 1.8% after the utility agreed
to sell its stake in gas distribution operator Scotia Gas
Networks.
Companies News:
Dialight Chairman Steps Down; Karen Oliver Named Successor
Dialight PLC said Monday that Chairman David Blood has decided
to step down from this role and that non-executive director Karen
Oliver has been appointed to the role.
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Directa Plus Subsidiary Qualifies for EUR700,000 in Italian
Government Loans
Directa Plus PLC said Monday that its Italian subsidiary,
Directa Plus SpA, has qualified for 700,000 euros ($830,795) in
loans under the Italian government's Covid-19 recovery plan.
---
Trans-Siberian Gold 2Q Revenue Fell on Quarter
Trans-Siberian Gold PLC on Monday reported that its revenue fell
slightly in the second quarter and remains well below a year
earlier.
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Allianz Warns of Risk to Earnings From Structured Alpha Funds
Investigations
Allianz SE said future earnings could be hit by current
investigations into its Structured Alpha funds that have been
linked to investor losses during the coronavirus-related market
downturn early last year.
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Dialight Swung to 1H Pretax Profit
Dialight PLC on Monday reported a swing to pretax profit for the
first half of the year on higher total orders and revenue.
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U.K. SPAC Enters Into Binding Sale, Purchase Agreement With
Hellenic Dynamics
U.K. SPAC PLC said Monday it has entered into a binding
sale-and-purchase agreement with the shareholders of Hellenic
Dynamics SA--a medical cannabis cultivation business--in relation
to the acquisition of 100% of its issued share capital for a
consideration of 45.2 million pounds ($62.8 million).
---
Kazatomprom Says 2Q Uranium Production Rose; Reaffirms 2021
Guidance
NAC Kazatomprom JSC reported that its uranium production, sales
and realized prices rose in the second quarter from a year earlier,
and reaffirmed 2021 guidance.
---
Global Resources Investment Trust Raises GBP599,201
Global Resources Investment Trust PLC said Monday that it has
raised 599,201 pounds ($832,949) via a placing of convertible loan
notes to new and existing investors and that director Stephen
Roberts has resigned from the board.
---
UK Watchdog Is Mulling Auction Technologies' Acquisition of
LiveAuctioneers
The U.K. Competition and Markets Authority said Monday that it
is considering whether Auction Technology Group PLC's $525 million
acquisition of LiveAuctioneers Worldwide Inc. raises competition
issues and has invited interested parties to offer comment ahead of
a formal probe.
---
XP Power 1H Pretax Profit, Revenue Rose
XP Power Ltd. reported on Monday a rise in pretax profit and
revenue for the first half of the year, and said the board expects
to post full-year performance above market expectations.
---
UK Oil & Gas Shares Fall on Delay at Basur-3 Well in
Turkey
Shares in UK Oil & Gas PLC dropped Monday after the company
warned of an unforeseen delay at the Basur-3 appraisal well in
Turkey, which is operated by Aladdin Middle East.
---
Tertiary Minerals Shares Rise on Deal to Acquire Copper Licenses
in Zambia
Shares in Tertiary Minerals PLC jumped Monday after it entered
into an option agreement with Mwashia Resources Ltd. to acquire up
to a 90% interest in five copper exploration licenses in
Zambia.
---
88 Energy Nonexecutive Chairman Michael Evans Retires, Philip
Byrne Named
88 Energy Ltd. said Monday that Nonexecutive Chairman Michael
Evans is retiring with immediate effect after seven years in the
role, and will be replaced by Philip Byrne.
---
D4t4 Solutions Appoints Ashoni Mehta as CFO
D4t4 Solutions PLC said Monday that it has appointed Ashoni
Mehta as its new chief financial officer, effective Sept. 1.
Market Talk:
HSBC's Cost Cutting Efforts May Mitigate Rising Tech
Expenses
HSBC Holdings says its cost reduction program could help
mitigate its rising technology investment costs. The lender spent
about $3.0 billion on technology in 1H, up 4% on year, as "digitize
at scale" is one of its four pillars of strategy. Technological
improvement will reduce cost base and make customer experience
better, it says, and expects adjusted operating expenses for 2021
to be broadly in line with 2020. HSBC aims to expand its digital
service that allows international customers to hold and send funds
in various currencies without paying fees to more countries this
year, having already rolled it out in the U.S., Singapore and the
UAE.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
August 02, 2021 04:48 ET (08:48 GMT)
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