The FTSE 100 plunged Tuesday as oil and mining stocks dived. This caused the commodity-heavy U.K. index to close 2.9% lower, its worst session since June 16. On the energy side, Shell plummeted 8.5% and peer BP fell 7.0%. The FTSE 100's worst performer was Harbour Energy, the smaller, U.K.-focused oil-and-gas producer. Its shares dropped 9.6%. Miners didn't do much better, with Anglo American shares declining 8.3% and Glencore down 8.0%, while Rio Tinto fell 4.0%. "Previously high-flying U.K. energy and mining stocks, from Shell and BP to Glencore and Anglo American, are in the cross-hairs today as recession fears undermine future demand for commodities, notwithstanding the reopening of China," Ben Laidler from eToro told Dow Jones Newswires.

 
Companies News: 

AstraZeneca to Buy TeneoTwo for Up to $1.27 Bln

AstraZeneca PLC said Tuesday that it is buying TeneoTwo, Inc. for up to $1.27 billion in a deal that strengthens its haematological cancer pipeline.

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B&M European Value Retail Appoints Mike Schmidt as CFO

B&M European Value Retail SA said Tuesday that it has appointed Mike Schmidt as its next chief financial officer.

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Ashtead Technology Shareholder Sells 10 Mln Shares at 200p

Numis Securities Ltd. said Tuesday that it has now placed 10 million shares of Ashtead Technology Holdings PLC at 200 pence each on behalf of BP Inv2 Newco Ltd., as first flagged late Monday.

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Quiz FY 2022 Pretax Profit Fell; Warns of Inflation Pressure on Sales

Quiz PLC reported Tuesday a significant decline in pretax profit for fiscal 2022 and said its sales performance will be hit by the effects of inflation on customers' shopping habits.

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Young & Co.'s Brewery 13-Week Comparable Revenue Rose 35%

Young & Co.'s Brewery PLC said Tuesday that the strong performance of the final quarter of last year has continued, with like-for-like revenue in the first thirteen weeks of the new fiscal year up 35%.

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Biffa Bid Talks With Energy Capital Are Continuing; U.K. Takeover Panel Extends Bid Deadline

Biffa PLC said Tuesday that takeover talks with Energy Capital Partners LLC are continuing, and that in order for them to continue the U.K. Takeover Panel has agreed to extend the bid deadline until Aug. 2.

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Saga Sees 2023 Swing to Pretax Profit As Travel Recovers

Saga PLC said on Tuesday that it is on track to swing to underlying pretax profit for fiscal 2023 as travel continues to recover.

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Pressure Technologies Completes GBP 1.6 Mln Sale and Leaseback of Rotherham Property

Pressure Technologies PLC said on Tuesday that it has completed the sale and leaseback of a property in Rotherham with Victoria Court Mews Ltd., and that it will use the money to reduce banking facilities.

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Gresham Technologies Sees 56% 1H Revenue Growth; to Meet 2022 Market Forecasts

Gresham Technologies PLC said Tuesday that it expects to report a 56% rise in revenue for the first half of this year and to meet market forecasts for the year as a whole.

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Sainsbury Sees FY 2023 in Line With Views; Blathnaid Bergin Appointed New CFO -- Update

J Sainsbury PLC said Tuesday that like-for-like sales declined in the first quarter of fiscal 2023, and added that its current commercial and retail finance director, Blathnaid Bergin, has been appointed chief financial officer.

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Saga Makes Leadership Changes to Boost Growth Strategy

Saga PLC said on Tuesday that it has made two nonexecutive and three executive appointments to support its growth strategy.

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Supreme Shares Fall 30% After Profit Warning

Supreme PLC shares fell sharply Tuesday after the company warned that revenue and Ebitda performance for fiscal 2023 will be hurt by a sales slowdown in its lighting category.

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Quiz Shares Rise on Swing to Operating Profit for FY22

Shares in Quiz PLC on Tuesday rose after the company reported a swing to an operating profit for fiscal 2022 despite also warning about the potential of its sales performance amid inflationary pressures.

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Transense Technologies FY 2022 Revenue Rose in Line With Market Forecasts

Transense Technologies PLC said Tuesday that revenue for fiscal 2022 rose nearly 50%, in line with market forecasts, while net profit is expected to beat estimates due to a tax credit.

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Smartspace Software's FY23 Performance in Line With Views

Smartspace Software PLC said Tuesday that its performance for fiscal 2023 is currently in line with management views and noted that its divisions are achieving growth.

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Equals Group Says It Had Record 1H Performance; Expects to Beat 2022 Market Views

Shares of Equals Group PLC rose 11% in early trade Tuesday after the company said that it had a record performance for the first half of the year, and that it expects to beat full-year adjusted Ebitda market forecasts.

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RWS Holdings Appoints New CFO

RWS Holdings PLC said Tuesday that it has appointed Candida Davies as its chief financial officer with effect from Oct. 1.

 

Contact: London NewsPlus; paul.larkins@wsj.com

 

(END) Dow Jones Newswires

July 05, 2022 12:13 ET (16:13 GMT)

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