Glaxo Seen With Further Upside From Consumer Healthcare
GlaxoSmithKline investors are going to show rising appetite to
accumulate the stock ahead of the company's planned spinoff of its
consumer healthcare division, and the company is seen with further
upside from the operation, which is meant to take place in
mid-2022, Jefferies says. Looking at the British pharma major's
pipeline, clinical news coming out of it could kick-start
investors' belief in it, and that should also provide for some
upside, according to Jefferies.
PageGroup Raises 2021 Operating Profit Guidance to Around GBP165
PageGroup PLC said Tuesday that it has raised its guidance for
2021 operating profit after positive momentum continued in the
period from Oct. 1 to Nov. 30.
Pebble Group on Track to Meet 2021 Market Views
Pebble Group PLC said Tuesday that it is on track to at least
meet market expectations for the full year.
Liontrust to Buy Majedie Asset Management for GBP120 Mln
Liontrust Asset Management PLC said Tuesday that it is buying
Majedie Asset Management Ltd. for 120 million pounds ($159.2
million) in shares and cash, a deal that will boost Liontrust's
existing institutional proposition.
W.H. Ireland Group 1H Pretax Profit Fell as Revenue Rose
W.H. Ireland Group PLC said Tuesday that first-half pretax
profit decreased as revenue rose.
Supreme 1H Pretax Profit Rose on Higher Revenue, Declares
Supreme PLC said Tuesday that its pretax profit for the first
half of fiscal 2022 has increased, backed by higher revenue, and it
declared a dividend payout.
Carr's FY 2021 Profit, Revenue Rose Ahead of Management
Carr's Group PLC said Tuesday that its fiscal 2021 pretax profit
and revenue rose ahead of management's improved expectations, and
raised its dividend.
Tritax EuroBox FY 2021 Profit Rose
Tritax EuroBox PLC said Tuesday that its fiscal 2021 profit rose
on increased rental income and improved property valuations.
Premier Miton Group FY 2021 Pretax Profit Rose, Increases
Premier Miton Group PLC on Tuesday posted a rise in pretax
profit for fiscal 2021 and increased its dividend payout.
CareTech FY 2021 Pretax Profit, Revenue Rose; Increases Final
CareTech Holdings PLC said Tuesday that fiscal 2021 pretax
profit and revenue rose, and that it has increased the final
dividend after robust performance in its core activities.
Paragon Banking FY 2021 Pretax Profit Rose on Credit Loss
Paragon Banking Group PLC on Tuesday reported an 80% rise in
pretax profit for fiscal 2021 as it released Covid-based provisions
booked previously against credit losses.
Somero Enterprises Raises Guidance on Strong 2H Performance
Somero Enterprises Inc. said Tuesday that it has raised its
guidance for 2021 after experiencing strong business momentum in
the second half of the year.
Shanta Gold Shares Drop After Cutting 2021 Production
Shares in Shanta Gold Ltd. fell Tuesday after it downgraded
full-year gold production guidance for its New Luika mine in
Mercia Asset Management 1H Pretax Profit Rose on Higher
Mercia Asset Management PLC on Tuesday reported a 38% rise in
pretax profit for the first half of fiscal 2022 and said it expects
the strong momentum to continue.
Tandem Group Sees 2021 Profit in Line With or Ahead of Market
Tandem Group PLC said Tuesday that it expects to report a profit
for 2021 in line with or slightly ahead of market expectations as
it benefits from a robust performance.
AstraZeneca to Face a Scarcity of Pipeline Catalysts in 2022
1123 GMT - AstraZeneca's pipeline will face a relative scarcity
of catalysts in 2022, while its oncology portfolio sees rising
competition, Jefferies says, downgrading the stock to hold from
buy. The news flow coming out of the pharma giant's pipeline for
next year isn't particularly meaningful, besides the publication of
data from a Phase 3 study in breast cancer set to come out in the
first quarter, Jefferies says. That said, AstraZeneca's growth in
the near term might be compelling as the strategic merits of its
Alexion acquisition are better appreciated and some new launches
look exciting, the investment bank says.
BAT Shareholders Could Get Boost From Cash Pile
1106 GMT - Shares in British American Tobacco rise 2.3% after
the cigarette maker said it continues to expect 2021 revenue to
rise more than 5% on a constant-currency basis. A stronger-looking
balance sheet means BAT can start returning excess cash to
shareholders, Hargreaves Lansdown says. "The low multiples on which
tobacco shares trade mean buy-backs will be highly
earnings-accretive," HL fund manager Steve Clayton says. "That
raises the prospect of faster dividend growth in years ahead. With
the market newly reassured that trading is normalizing after the
interruptions posed by the pandemic, we think BAT's income
attractions are becoming harder to ignore," Clayton says.
Higher Rates Environment to Boost Issuance of Convertible Bonds
1106 GMT - Societe Generale expects the issuance volume of
convertible bonds to rise to EUR23 billion in 2022, from EUR19
billion in 2021, in the EMEA region, Ralf Darpe, head of equity
capital markets for Germany, Austria, Switzerland, says in a
webinar. The expected rise should be driven by higher rates and and
possibly higher volatility, he says. The year 2020 delivered a
record issuance volume of EUR27.2 billion in convertible bond
issuance, while the volume in 2021 has been driven by strong
activity in the U.K. and France. Darpe adds that environmental,
social and governance (ESG) aspects have reached convertible bonds,
too, although less in Germany and more in France.
Liontrust's Majedie Purchase Is a Surprise
1049 GMT - U.K. sustainability-focused investment manager
Liontrust Asset Management's purchase of Majedie Asset Management
Ltd. for GBP120 million is a surprise, Ryan Hughes at AJ Bell says.
Although given the company's owner-managed structure and strong
independence it wasn't a name mentioned regularly as a takeover
target, its ability to tap into Liontrust's wider resources and
hopefully grow the assets was clearly a strong pull, Hughes says.
"The fund ranges of the two companies look a decent fit, however
there is the chance of some consolidation of the enlarged fund
range, not least because Liontrust will have 19 funds that each
have less than GBP100 million in assets as they still look to tidy
up the assets from their previous purchases," Hughes says.
Ashtead Gets Rental-Revenue Boost From Volume Increase
1014 GMT - Ashtead Group shares rise 3% after the plant-hire
group reported higher second-quarter profit and forecast full-year
performance ahead of its previous expectations. The latest results
show increased volumes of equipment out on loan have driven rental
revenue higher, AJ Bell says. "Joe Biden's $1.2 trillion
infrastructure bill should provide a positive backdrop for Ashtead
in the U.S., which is its main operating region. Yet Covid still
presents a challenge in 2022," Bell's investment director Russ
Mould says. "Any prolonged setbacks to economic activity could have
a negative knock-on effect to construction activity, causing
project delays. This risk will keep Ashtead on its toes."
Uber Eats, Deliveroo Seen as Most Exposed to EU Gig-Economy
0956 GMT - Uber Eats and Deliveroo will likely be the most
exposed food delivery platforms to a European Union proposal that
could pave the way for gig-economy workers to be treated as
employees rather than contractors, Bryan Garnier says. "Deliveroo
and Uber Eats will be the most exposed, bearing in mind that both
are quite active in Europe, beyond the U.K...[and] rely on
freelancers," Bryan Garnier says. On the other hand, the European
investment bank sees Just Eat and Germany's Delivery Hero as
minimally exposed, citing their existing employment model as well
as the relatively low percentage of revenue they generate in the
November Was Good for UK Retailers, But Omicron Seen
0926 GMT - November appears to have been another good month for
retailers in the U.K., Pantheon Macroeconomics' chief eurozone
economist Claus Vistesen says. Year-on-year growth in total sales
values increased to 5.0% in November from 1.3% in October. However,
Vistesen says the pick-up in growth in total sales primarily
reflects the impact of the lockdown a year ago. The fourth quarter
is likely to end on a bad note for retailers, Vistesen says.
Shoppers probably have purchased Christmas gifts earlier than usual
this year due to concerns about product availability, he says. In
addition, Omicron already has had an impact on consumers'
willingness to visit shops, and to a larger extent hospitality
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
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(END) Dow Jones Newswires
December 07, 2021 07:47 ET (12:47 GMT)
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