UKX FTSE 100 Index

AB Foods Shares Fall as Delta Variant Hurts Primark Sales

RBC says like-for-like sales at Associated British Foods' retailer Primark were "even softer than we expected," mainly due to weaker sales in the U.K. and Spain due to coronavirus Delta variant impacts and a lack of tourism in Spain. ABF is among the biggest fallers on the FTSE 100 index, last down 3.2% at 1,904 pence, after it said it expected like-for-like sales at retailer Primark to be 17% lower in the fourth quarter of its fiscal year, ending Sept. 18. However, RBC retains an outperform rating on ABF with a 2,700-pence price target, noting that margins were stronger for Primark and "much stronger" for sugar, leading the company to forecast that full-year adjusted operating profit would be ahead of last year's.

 
Companies News: 

M.P. Evans Doubles Interim Dividend After Significant Rise in 1H Earnings

M.P. Evans Group PLC reported a significant increase in earnings for the first half of the year, and doubled the interim dividend.

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ITM Power FY 2021 Loss Narrowed

ITM Power PLC on Monday reported a narrowed loss for fiscal 2021 and said the near-term outlook is positive.

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Thor Mining Shares Rise on Appointment of New Chairman

Thor Mining PLC shares rose Monday after the company said it has appointed Mark Potter as nonexecutive chairman, effective immediately.

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Wincanton Year-To-Date Revenue Rose 25%

Wincanton PLC said Monday that year-to-date revenue rose compared with the prior year, and that profit is in line with market expectations.

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Image Scan Surges After New Orders Boost FY 2021 Outlook

Image Scan Holdings PLC shares rose significantly Monday after the company said it had received new orders from police customers and raised its guidance for fiscal 2021.

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M&G Appoints CFO Clare Bousfield as Managing Director of Retail and Savings

M&G PLC has appointed its Chief Financial Officer Clare Bousfield as managing director of retail and savings, a newly-created position that she will take up from Oct. 1.

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Xpediator 1H Profit Rose; Backs Full-Year Guidance

Xpediator PLC on Monday reported a profit for the first half and said it continues to expect full-year adjusted pretax profit in excess of 8.5 million pounds ($11.8 million).

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Gaming Realms Swung to 1H Pretax Profit

Gaming Realms PLC said Monday that it swung to a pretax profit for the first half as revenue increased, and that the board is confident in the future performance of the business.

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Horizonte Minerals Secures Export Credit Agency Approval for Ferronickel Project

Horizonte Minerals PLC said Monday that it has received approval from two export credit agencies for $146.2 million of financing for its Araguaia ferronickel project in Brazil.

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Digital 9 Infrastructure Targets GBP200 Mln in Share Placing

Digital 9 Infrastructure PLC said Monday that it is looking to raise 200 million pounds ($276.7 million) in a share placing.

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Anexo Posts Higher 1H Profit, Forecasts Further Improvement in 2H

Anexo Group PLC on Monday reported an improved profit for the first half of the year and said it expects that earnings will continue to grow in the second half.

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Severstal Raises Stake in WRS Towers Joint Venture to 49%

Severstal PAO GDR said Monday that it has increased its stake in the WRS Towers LLC joint venture to 49%, calling the decision a logical step to strengthen its presence in the developing renewable-energy market.

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Salt Lake Potash Appoints Isak Buitendag as CEO

Salt Lake Potash Ltd. said Monday that it has appointed Isak Buitendag as chief executive officer.

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Henry Boot 1H Pretax Profit Rose

Henry Boot PLC said Monday that first-half revenue and pretax profit rose, and that the outlook for the industrial & logistics and residential markets is very encouraging.

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Water Intelligence 1H Pretax Profit Rose

Water Intelligence PLC said Monday that its pretax profit rose for the first half as revenue increased, and that it continues to deliver on its growth strategy.

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Prudential Completes Jackson Financial Demerger; Intends to Sell Down Initial Stake

Prudential PLC said Monday that it has completed the demerger of Jackson Financial Inc., and that it will sell down its remaining holding within the year.

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City of London Investment Group FY 2021 Pretax Profit Rose

City of London Investment Group PLC said on Monday that pretax profit rose for fiscal 2021 as revenue increased, and that although the board was cautiously optimistic for the year ahead, it was prepared to manage any headwinds which might surface.

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Audioboom Releases Upbeat Trading Update After Bidder Withdraws Potential Offer -- Update

Audioboom Group PLC said Monday that its expects 2021 performance to be significantly ahead of views, after rejecting a takeover approach from All Active Asset Capital Ltd.

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Arrow Exploration Plans London Float by End of September

Arrow Exploration Corp. said Monday that it intends to list on the London Stock Exchange by the end of September, although the amount of money to be raised has yet to be confirmed.

 
Market Talk: 

Rising Covid-19 Cases Could Drag on UK Recovery This Year

0740 GMT - Increasing Covid-19 cases were largely responsible for the near stagnation of the U.K. economy in July, and although the virus is no longer driving labor shortages, many people remain fearful and are likely to reduce spending if cases pick up again, Pantheon Macroeconomics says. The economy should continue to recover in the months ahead, fuelled by higher business investment and government spending, but households' spending will be the weak link given the Covid-19 case outlook, Pantheon says. The squeeze on incomes from a further pick-up in inflation, the end of the furlough program, and other stimulus withdrawals are likely to hit households too. Pantheon sees U.K. GDP expanding 1.5% in 3Q, half the rate expected by the Bank of England.

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Aluminum Nears $3,000 a Ton as Coal, Alumina Prices Rally

0622 GMT - Aluminum is extending three consecutive sessions of gains to trade near $3,000 a ton, as prices of coal and alumina increase, Marex says. The three-month LME aluminum contract is 2.4% higher at $2,994.5 a ton, supported by surging coal prices in China as energy accounts for some 40% of total aluminum production costs there, the broker says. It adds that alumina supply disruptions in Brazil and Jamaica, as well as continued uncertainty over bauxite exports from Guinea, are also supporting. "Power curtailments, together with more infrastructure stimulus, may help push aluminum prices even higher," Marex says.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

September 13, 2021 05:44 ET (09:44 GMT)

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