FTSE 100 Rises After Positive Covid-19 Vaccine Update

0858 GMT - The FTSE 100 climbs 0.2% to 7350 points as investors cheer news that a third jab of the Pfizer-BioNTech coronavirus vaccine offers an effective defence against the new Omicron variant. DS Smith tops the London index, rising 2.4%, after the packaging business reported a jump in first-half profit and raised its interim dividend. Rolls-Royce leads the fallers with shares down 3.3% after the aerospace and defense company said its large energy flying hours were currently 50% below 2019 levels while installed engine sales and aftermarket shop visit activity fell in the third quarter.(renae.dyer@wsj.com)

 
Companies News: 

Rolls-Royce Returned to Positive Free Cash Flow in 3Q

Rolls-Royce Holdings PLC said Thursday that it restored positive free cash flow in the third quarter.

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Farfetch Snaps Up Resale Platform as Secondhand Luxury Keeps On Growing

Farfetch Ltd. has acquired luxury resale platform Luxclusif as the sector's interest in the second-hand market grows apace, marking the latest expansion at the British-Portuguese e-commerce firm.

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Frasers 1H Pretax Profit Rose Significantly; Sees FY Growth

Frasers Group PLC on Thursday reported a significant rise in pretax profit for the first half of fiscal 2022 and said that it expects to post a materially stronger adjusted pretax profit for the full year if there are no additional Covid-19 lockdowns in the U.K., particularly during Christmas.

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DS Smith 1H Pretax Profit, Revenue Rose; Increases Dividend

DS Smith PLC said Thursday that pretax profit and revenue rose for the first half of fiscal 2022 and that it has increased the interim dividend.

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ITV Studios Revenue Seen Recovering to 2019 Levels in 2022

ITV PLC said Thursday that total revenue for its ITV Studios unit should recover to 2019 levels in 2022.

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Harbour Energy Introduces $200 Mln Annual Dividend

Harbour Energy PLC said Thursday that it will introduce a $200 million annual dividend, as it expects to remain free cash flow positive every year in the medium term at current forward commodity prices.

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Hikma Signs Deal to Commercialize Gedeon Richter's Osteoporosis Treatment

Hikma Pharmaceuticals PLC said Thursday that it has signed a deal to commercialize Gedeon Richter PLC's denosumab in the U.S.

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Stanley Gibbons 1H Pretax Loss Widened; Aims to Become Cash Sustainable in 2H

Stanley Gibbons Group PLC said Thursday that its pretax loss widened in the first half of fiscal 2022 and that it aims to become a sustainably cash positive business within the next six months.

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Galileo Resources Shares Rise as Investee Glenover Agrees to $16 Mln Disposal

Shares in Galileo Resources PLC rose Thursday after it said its investee Glenover Phosphate Proprietary Ltd. agreed to sell certain phosphate rock deposits and mining rights for 250 million rand ($15.9 million) to Afrimat Ltd.

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S&U Growth Accelerates on Strong Performance

S&U PLC said Thursday that it is performing strongly, with growth accelerating in both its Advantage Finance and Aspen Bridging Finance businesses.

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Clipper Logistics 1H Pretax Profit Rose

Clipper Logistics PLC on Thursday reported a higher pretax profit for the first half of fiscal 2022, and said it is on track to meet full-year expectations.

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Real Good Food Shares Rise as 1H Pretax Loss Narrowed Significantly

Shares in Real Good Food PLC rose Thursday after the company reported a significantly narrowed pretax loss for the first half of fiscal 2022 and said the board is confident it will restore greater profitability over the coming trading periods.

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Made.com 2H Was Strong But Supply-Chain Issues Cause Revenue Delays

Made.com Group PLC said Thursday that it enjoyed a strong second half in 2021, but that a greater proportion of revenue and adjusted Ebitda will be delayed to early 2022 due to supply-chain disruptions.

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Go-Ahead Shares to Be Suspended After FY 2021 Results Delayed Further; Shares Fall

Go-Ahead Group PLC shares fell Thursday after it said it expects trading in its shares to be temporarily suspended from Jan. 4 after the publication of its fiscal 2021 results was further delayed.

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Robinson Shares Fall as 2021 Earnings Are Expected to Halve

Shares in Robinson PLC fell Thursday after the company forecast lower earnings for 2021 reflecting lower demand in the second half and high costs.

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Vertu Motors Upgrades FY 2022 Pretax Profit Guidance

Vertu Motors PLC said Thursday that it has raised its pretax profit guidance for 2022 as demand remains positive with higher margins on both new and used vehicles.

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Driver Group Shares Fall After Delay to FY 2021 Accounts

Shares in Driver Group PLC plummeted Thursday after the claims and dispute-management company said it is delaying the release of its fiscal 2021 results due to issues related to its principal customer in Oman.

 
Market Talk: 

Pound to Fall Vs Dollar if BOE Delays Rate Rise, Fed Accelerates Tapering

0916 GMT - Sterling is likely to weaken versus the dollar if the Bank of England delays raising interest rates and the Federal Reserve accelerates the tapering of asset purchases, MUFG Bank says. The BOE will likely keep rates unchanged until at least February after the U.K. government tightened coronavirus restrictions and following recently cautious comments from BOE officials, MUFG's Lee Hardman says. Meanwhile, the Fed should speed up tapering at its December 14-15 meeting, he says. "The time gap between the first BOE and Fed rate hikes is likely to be much shorter now than initially expected which should keep downward pressure on cable heading into year end and moving it closer to the 1.3000-level." GBP/USD trades flat at 1.3206. (renae.dyer@wsj.com)

 

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

December 09, 2021 04:42 ET (09:42 GMT)

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