FTSE 100 Falls as Traders Sift Through Earnings
The FTSE 100 falls 0.2% to 7235 points as a stronger sterling
dents multinational stocks and as investors sift through corporate
earnings. Royal Dutch Shell drops 1.7% after the energy giant
posted a 25% decline in third-quarter adjusted earnings after
Hurricane Ida caused major disruption to its Gulf of Mexico
operations. Housebuilders are also among the biggest fallers after
rising on Wednesday when U.K. Treasury chief Rishi Sunak announced
a tax increase that was no more than expected. WPP advances 4.6%
after the advertising group said its third-quarter revenue grew and
raised its full-year guidance. Lloyds gains 1.9% after the bank's
third-quarter profit beat expectations. DS Smith climbs 1.7% after
the cardboard maker said first-half box volume growth was
Foxtons Year to September Delivered Strong Performance as
Foxtons Group PLC said Thursday that it delivered a strong
performance and increased revenue for the nine months to September,
with all business areas ahead of both 2020 and prior to the
Inspecs Group Nine-Month Performance Further Strengthened
Inspecs Group PLC said Thursday that the strong performance it
delivered in the first half continued into the third quarter and
that it is confident in its outlook for 2021 as a whole.
Airtel Africa 1H Pretax Profit Doubled on Higher Revenue
Airtel Africa PLC on Thursday reported an increased pretax
profit for the first half of fiscal 2022 as revenue grew across all
Hunting Says 2021 Ebitda Will Be Broadly Breakeven
Hunting PLC said Thursday that it expects 2021 Ebitda to be
broadly breakeven due to adverse weather conditions that affected
operations in Louisiana, and sporadic Covid-19 disruptions.
Lloyds 3Q Beat Expectations as Pretax Profit Nearly Doubled
Lloyds Banking Group PLC on Thursday reported a nearly doubled
pretax profit for the third quarter of 2021, beating market
UK Watchdog to Probe Pennon's Acquisition of Bristol Water
The U.K. Competition and Markets Authority said Thursday that it
is investigating Pennon Group PLC's acquisition of Bristol Water
Holdings UK Ltd. to see if the deal will affect the U.K. water
regulator's ability to make comparisons within the industry.
PPHE Hotel Group 3Q Revenue Rose
PPHE Hotel Group Ltd. said Thursday that revenue for the third
quarter rose, and that average room rates recovered to 87% of the
levels reported in the third quarter of 2019.
Various Eateries Says Post-Lockdown Performance Is Strong on
Various Eateries PLC said Thursday that the group's performance
since pandemic-related restrictions were lifted has been robust
amid strong demand.
WPP Raises 2021 Guidance After 3Q Revenue Beat Pre-Pandemic
WPP PLC said Thursday that its third quarter revenue improved
beyond pre-pandemic levels and raised its full-year guidance.
Permanent TSB 3Q Net Interest Income Fell
Permanent TSB Group Holdings PLC said Thursday that net interest
income for the third quarter fell on lower income.
Vast Resources to Raise GBP1.4 Mln via Discounted Share Placing,
Shares in Vast Resources PLC fell on Thursday after the company
said it will raise 1.4 million pounds ($1.9 million) via a
discounted placing, and that it will use the proceeds to cover a
shortfall in working capital as well as for contingencies.
Daily Mail & General Trust Says Rothermere Bid Deadline Has
Daily Mail & General Trust PLC said Thursday that the U.K.
Takeover Panel has extended the deadline for Rothermere
Continuation Ltd. to either make an offer or walk away to Nov.
Eurasia Mining Shares Rise on Potential Assets Sale
Shares in Eurasia Mining PLC rose Thursday after the company
said that the buyer for its nickel-copper-platinum-group-metals
assets has informed the company in writing that it has completed
its due diligence, and that the board is considering additional
interest from other parties.
Shell 3Q Adjusted Earnings Fell as Hurricane Ida Hurt
Royal Dutch Shell PLC on Thursday reported that its earnings
fell 25% in the third quarter after Hurricane Ida hurt its
operations in the Gulf of Mexico.
Helios Towers 3Q Revenue Rose Boosted by Portfolio Acquisition,
Helios Towers PLC on Thursday reported an increased revenue for
the third quarter as it benefited from the acquisition of Free
Senegal's tower portfolio and continued tenancy growth.
Polyus 3Q Gold Sales, Production Rose Vs. 2Q
Polyus PJSC on Thursday said gold production and sales
strengthened in the third quarter compared with the second,
offsetting slightly weaker prices.
Synthomer to Raise GBP200 Mln; Agrees $1Bln Acquisition
Synthomer PLC said Thursday that it will raise around 200
million pounds ($274.8 million) via an accelerated bookbuild and
that it will use the net proceeds to partly fund a $1 billion
acquisition in cash.
WPP's 3Q Outperformance Should Increase Share Price
0715 GMT - WPP's 3Q organic revenue growth of 15.7% not only
blew the market consensus of 8.9%-9.5% out of the water, but was
materially ahead of the 13.5% expectations that emerged after
strong performances from its peers, Citi says. The world's-largest
advertising agency said strong performances in the U.S. and its
GroupM business in particular meant its like-for-like revenue grew
6.9% compared with the same quarter in 2019, Citi says. That should
give investors increased comfort that the recovery isn't just
cyclical, but structural, providing a platform for share-price
rises, the U.S. bank says. Citi retains its buy rating and raises
its target price to 1,350 pence from 1,300 pence. Shares are up
3.5% at 1,000.0 pence.
Shell's Strong Cash Generation Continues to Reduce Debt
0701 GMT - It hasn't been the cleanest set of results given a
number of one-offs that have impacted earnings, but from a cash
flow from operations perspective Shell reported strong performance,
RBC Capital Markets says. The Anglo-Dutch energy company generated
record third-quarter headline CFFO, RBC says. As a result, net debt
has been reduced further, to $57.49 billion, and is down around $16
billion year-to-date, RBC says. On the negative side, shareholder
distributions may have missed expectations: "Shell has opted not to
increase its share buyback programme today, which may be
disappointing to some (including us), given the Permian proceeds
are due to be received in a couple of months," RBC says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
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(END) Dow Jones Newswires
October 28, 2021 04:12 ET (08:12 GMT)
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From Nov 2021 to Dec 2021
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