The FTSE 100 on Friday closed lower in a week marked by losses,
as growth fears are taking center stage across markets, says Chris
Beauchamp, chief market analyst at IG. A slowing recovery threatens
to put more pressure on stocks after a strong year for the headline
indices, Beauchamp says. "Until the extent of the hit from Omicron
becomes clearer, it looks like we have more downside to come in
indices, with intraday bounces being sold," Beauchamp adds.
Origo Auctions Stake in Mongolia Molybdenum Project
Origo Partners PLC said Friday that it is putting its 20% stake
in Moly World Ltd. up for auction.
i(x) Net Zero to List in London, Raise GBP20 Mln
i(x) Net Zero PLC said Friday that it intends to float on
London's alternative investment market in late December, raising 20
million pounds ($26.6 million) in a proposed placing.
Mind Gym Swung to 1H Pretax Profit on Higher Revenue; Appoints
Mind Gym PLC said Friday that it swung to a pretax profit for
the first half of fiscal 2022 as revenue returned to pre-pandemic
levels, and that it has named Dominic Neary as its new chief
Nationwide Building Society Appoints Debbie Crosbie as New
Nationwide Building Society said Friday that it has appointed
Debbie Crosbie as its new chief executive officer.
Ncondezi Energy Sells Mozambique Green Power for $1.3
Ncondezi Energy Ltd. said Friday that it has agreed to sell
Mozambique Green Power to Green Energy SPV PLC for $1.3
Downing Renewables & Infrastructure Secures Two Lines of
Downing Renewables & Infrastructure Trust PLC said Friday
that it has secured two separate lines of credit through
subsidiaries to fund acquisitions, refinance hydropower assets and
meet capital expenditure requirements.
Swedish Pharma Company Sobi Shares Fall After Advent, Aurora
Withdraw Their Near $8 Bln Takeover Offer
Shares in Swedish Orphan Biovitrium AB fell sharply Friday after
Advent International Corporation and Aurora Investment Pte Ltd
withdrew their offer to acquire the Swedish drugmaker for nearly $8
Octopus Renewables Raises GBP73.9 Million for Investments
Octopus Renewables Infrastructure Trust PLC said Friday that it
has raised around 73.9 million pounds ($98.3 million) to invest in
renewable energy assets and diversify its portfolio.
Cellular Goods Posts Wider FY 2021 Pretax Loss; Shares Fall
Cellular Goods PLC shares fell Friday after it said its fiscal
2021 pretax loss widened on the back of one-off costs.
While Shell Resists Breakup, Rivals See Opportunity From
Royal Dutch Shell PLC is standing firm against Third Point LLC's
call for a breakup of the oil giant to retain and attract
investors. But that isn't stopping Eni SpA and other European
energy conglomerates from targeting similar moves to boost
Compass Pathways Names Michael Falvey as Finance Chief
Compass Pathways PLC said it has appointed Michael Falvey as
finance chief, succeeding Piers Morgan when he leaves the company,
as previously announced, at the end of the year.
UK Energy Bills Will Rise by GBP550 a Year in April
1312 GMT - The price of the average annual gas bill in the U.K.
could increase by GBP350 in April and the average electricity bill
by GBP200, compared with current levels, charity National Energy
Action warns. The estimate is based on forecasts from Cornwall
Insight, Baringa and EnergyShop.com, and takes into account the
Supplier of Last Resort levy, increased social obligation costs and
changes in the way the price cap is calculated. The current
dual-fuel bill price cap for the six months ending March 31 is
GBP1,277. "The cost of living in the U.K. is at its highest level
in a decade with household energy bills the biggest driver," NEA's
Chief Executive Adam Scorer says.
Deliveroo, Delivery Hero Shares Hit by Potential EU Labor
1242 GMT - Shares in Deliveroo PLC and Delivery Hero SE fall
after Bloomberg reported that the self-employed riders of food
delivery companies could be reclassified as employees, as part of
new potential European Union legislation. These platforms, as well
as others such as Uber and Bolt Technology OU, could see their
costs increase significantly and profits decrease if the draft
proposal to improve the rights of millions of "gig economy" workers
in the EU goes ahead. Shares in Delivery Hero are down 2% at
EUR105.25, while shares in Deliveroo in London are down 5.6% at
European Bank Shares' Omicron Stumble Is an Opportunity,
1224 GMT - European bank stocks have underperformed with Omicron
news and Jefferies analysts consider it an opportunity. There are
several factors that should support their performance this time
around compared with earlier pandemic shocks: Thanks to vaccines
and sector adaptation, economic activity should be less affected by
restrictions and high inflation rates could lead to interest rate
increases--a boon for banks. Plus, most lenders have high buffers
to shield them from credit losses. Their capital ratios are also
higher than pre-pandemic levels and regulators are unlikely to
restrict payouts again, Jefferies says. Its top picks are UBS,
SocGen, UniCredit and Barclays. If Omicron ends up threatening the
economic recovery, Nordic banks, Credit Agricole and UBS look most
resilient, it says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
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(END) Dow Jones Newswires
December 03, 2021 12:16 ET (17:16 GMT)
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