The FTSE 100 Closed Up 2.6% Led by Gains in Banking and Oil
The FTSE 100 closed up 2.6% as it recovered from heavy losses
earlier in the week, led by banking and oil stocks gains, as
financials, healthcare and consumer goods saw solid demand. Worries
over China's pandemic-related lockdowns slowing global growth
helped offset concerns regarding dwindling fuel supplies from the
world's second-largest oil exporter: Russia. BP closed up 3.6% with
Shell closing up 2.8%. Scottish Mortgage Investment Trust was the
day's biggest riser, up 7.3%, followed by Flutter Entertainment and
Compass Group, up 5.6% and 5.3% respectively. Education company
Pearson was the day's biggest faller, closing down 1.5%, followed
by Vodafone, down 0.8%, and Avast, down 0.6%.
ContourGlobal Says 1Q Performance Was Better Than Expected
ContourGlobal PLC said Friday that its performance in the first
quarter was ahead of expectations, with adjusted Ebitda growing 15%
in the first quarter.
Sage Group 1H Pretax Profit Fell Slightly After Investment to
Sage Group PLC said Friday that pretax profit for the first half
of fiscal 2022 fell slightly after an additional strategic
investment to accelerate growth.
TT Electronics Early 2022 Revenue Rose on Growth in Markets
TT Electronics PLC said Friday that its revenue rose in the
first four months of 2022, reflecting healthy growth in its focus
end markets and strong customer relationships.
Fulcrum Utility Services Swung to Ebitda Loss in 2H
Fulcrum Utility Services Ltd. warned Friday that it expects to
report adjusted Ebitda of 0.5 million pounds ($610,050) for the
year ended March 31, which suggests that the company swung to an
Ebitda loss in the second half.
Reabold Resources Appoints Chris Connolly as CFO
Reabold Resources PLC said Friday that it has appointed Chris
Connolly as chief financial officer.
Sivota Acquires Apester Majority Stake; Will Hold GBP11.5M
Sivota PLC said Friday that it has acquired a 57.5% stake in
digital marketing engagement platform Apester Ltd. for $12.0
million, funded through an 11.5 million pound ($14.0 million) share
placing and subscription.
Sage Group's Positive Results Offer Investors Hope of Share
0910 GMT - Sage Group's first-half results were decent, with
particularly strong growth in its business cloud division,
Interactive Investor's head of investment, Victoria Scholar, says
in a research note. The FTSE 100 software company's stock enjoyed a
strong 10-month period from March last year, but since the highs,
it has given back more than 60% of its gains and could retest those
March lows if downside pressure persists, Scholar says. However,
the first-half report immediately gave shares a lift and investors
will be hoping that this could be the start of a more positive
trend ahead, she says. Shares are up 1.5% at 673.60 pence.
Sage Gains After 1H Profit Tops Hopes, Revenue Rises
0901 GMT - Sage Group shares rise 1.9% after the
accounting-software developer reported better-than-expected
first-half operating profit and said it was on track to hit
full-year targets. Organic operating profit in the period rose 4%
to GBP184 million, versus market forecasts of GBP180m, while
organic recurring revenue increased 8% to GBP866m. "The shares
performed well off the back of strong first-half results," AJ Bell
investment director Russ Mould says. "In uncertain times, a mundane
marvel like Sage is likely to get a warm reception from the market
and a sizeable increase in recurring revenue and just being on
track to hit expectations was enough to see it receive a gold star
from investors." (firstname.lastname@example.org)
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(END) Dow Jones Newswires
May 13, 2022 12:44 ET (16:44 GMT)
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