FTSE 100 Rises in Early Trade as Oil Stocks, Miners Gain

1001 GMT - The FTSE 100 index trades up 0.4% at 7545.30 in early trade, buoyed by hopes that China could backtrack on its zero Covid-19 policy and shrugging off weak China data, while traders look ahead to testimony later by U.S. Federal Reserve Chairman Jerome Powell. Higher oil prices boost oil-linked stocks, with BP up 1.3%, while miners are also among the biggest risers, while utilities and other defensive stocks are mostly lower. "European markets have opened higher with technology and real estate outperforming. The FTSE 100 is staging gains while oil prices are also in the green," writes Victoria Scholar, head of investment at Interactive Investor. Rolls-Royce and Flutter Entertainment are the two biggest risers, both up around 2%. (jessica.fleetham@wsj.com)

 
Companies News: 

Marks & Spencer Buys Fashion Marketplace Thread's IP, The Times Reports

--Marks & Spencer Group PLC has bought the intellectual property of fashion marketplace Thread, which has recently gone into administration, The Times of London reports.

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Pennon Group 1H Pretax Profit Hit by Higher Costs

Pennon Group PLC on Wednesday reported a drop in pretax profit for the first half of fiscal 2023 as it reported higher costs and despite a rise in revenue.

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Loungers 1H Pretax Profit Slumped on Higher Costs

Loungers PLC said Wednesday that first-half pretax profit fell despite rising revenue as inflationary pressure led to increased costs.

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Impax Asset Management FY 2022 Pretax Profit Rose on Positive Net Inflows; Names New CFO

Impax Asset Management Group PLC said Wednesday that its fiscal 2022 profit and revenue rose significantly on positive net inflows, and named Karen Cockburn as its new chief financial officer.

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Future Posts Higher FY 2022 Pretax Profit, Revenue

Future PLC on Wednesday reported higher pretax profit and revenue for fiscal 2022, and said that it expects modest profit growth in the current fiscal year.

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Benchmark Holdings FY 2022 Loss Widened on Higher Costs

Benchmark Holdings PLC Wednesday reported a widened loss for fiscal 2022 on higher finance costs and depreciation charges, though revenue and adjusted earnings rose, and said it has started the new year well.

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Benchmark Holdings to Raise GBP13.2 Mln in Norwegian IPO

Benchmark Holdings PLC on Wednesday said that it plans to raise 13.2 million pounds ($15.8 million) via a private placing and retail offering on Euronext, Oslo.

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Carclo 1H Pretax Profit Fell as Cost Inflation Bites

Carclo PLC said Wednesday that pretax profit fell but revenue rose in the first half of fiscal 2023, as higher cost inflation offset growth in its life-science business.

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Mulberry Shares Fall on Swing to 1H Pretax Loss

Shares of Mulberry Group PLC fell 21% on Wednesday after the company reported a swing to pretax loss for the first half of the fiscal year and said that it is well placed for the upcoming festive trading period.

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Elementis Agrees on Sale of Chromium Business for Enterprise Value of $170 Mln

Elementis PLC said Wednesday that it has agreed to sell its Chromium business to Yildirim Group for an enterprise value of $170 million, with total pretax cash proceeds expected to be around $119 million.

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Chamberlin Will Meet FY 2023 Market Expectations, CEO Says

Chamberlin PLC's profitability in the first half of fiscal 2023 was held back by a slower recovery at its Chamberlin & Hill Castings business, but the group should be able to meet full-year market expectations, its chief executive officer said Wednesday.

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Borders & Southern Petroleum Shares Fall on Discounted Fund Raising

Shares of Borders & Southern Petroleum PLC fell 36% on Wednesday after the company said that it has raised 2.5 million pounds ($3 million) via a heavily discounted share placing and subscription.

 

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

(END) Dow Jones Newswires

November 30, 2022 05:21 ET (10:21 GMT)

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