The FTSE 100 blue-chip index closed Friday up 0.05% lifted by
upbeat oil-linked stocks, which offset a drag on the mining sector
as the central bank meetings scheduled next week prompted caution
among investors. Sainsbury's lead the index up 5.7% after Bestway
Group bought a 3.45% stake in the U.K. supermarket. On the other
side of the table, Rolls-Royce shares closed down 2.9% after the
new CEO said the company was a "burning platform," CMC Markets
chief market analyst Michael Hewson says. "Rhetoric and tone are
important when describing a business, especially one that is
responsible for engine safety," Hewson adds.
Direct Line CEO Penny James Steps Down
Direct Line Insurance Group PLC said Friday that Chief Executive
Penny James is stepping down from the role with immediate
Bestway Group Buys Around $240 Mln of Shares in J Sainsbury
Bestway Group Ltd. said Friday that it has bought or agreed to
buy shares worth 3.45% of J Sainsbury PLC's issued share capital,
or around 193.4 million pounds ($240.0 million).
Superdry Cuts FY 2023 Profit Guidance After Swing to 1H Pretax
Superdry PLC said Friday that it swung to a pretax loss in the
first half of fiscal 2023 though revenue rose, and lowered its
full-year profit outlook.
On the Beach FY 2023 Year-to-Date Holiday Sales Up 68% Vs Year
On the Beach Group PLC said Friday that the total value of
holidays sold for the fiscal year to date is 68% higher than the
same period last year, with October to December bookings beating
their year earlier comparatives.
Avon Protection 1Q Revenue Rose, Says Order Pipeline is
Avon Protection PLC said Friday that its first-quarter revenue
rose and that it has a strong pipeline for its leading respiratory
Paragon Banking 1Q New Lending Rose; Raises FY 2023 Interest
Paragon Banking Group PLC on Friday said first-quarter new
lending increased 22% on year and raised its net interest margin
growth guidance for fiscal 2023.
Faron Pharmaceuticals Raises EUR12 Mln via Share Placing
Faron Pharmaceuticals Oyj said Friday that it has raised 12
million euros ($13.1 million) via the share placing announced late
Treatt 1Q Sales Rose; Confident for Year Ahead
Treatt PLC said Friday that it has made a good start to fiscal
2023 with first-quarter sales rising in line with management
expectations, and is confident for the year ahead.
Stelrad Group to Report Record 2022 Adjusted Operating
Stelrad Group PLC said Friday that it expects to report a record
adjusted operating profit for 2022 on revenue that was boosted by
the acquisition of DL Radiators from August.
YouGov Sees FY 2023 Revenue In Line With Views
YouGov PLC on Friday said it expects to report full-year revenue
in line with consensus after a resilient first-half performance
given the tough macro environment.
Motorpoint 9-Month Revenue Rose; Gross Profit Per Unit Missed
Motorpoint Group PLC said Friday that its revenue for the first
three quarters of the year rose, helped by vehicle mix and price
inflation, though gross profit per unit missed expectations and it
expects to be negatively hit by macroeconomic factors.
Boston International Raises GBP80,000 via Directors' Share
Boston International Holdings PLC said Friday that it has raised
80,000 pounds ($99,280) via a subscription of shares by four
directors, including Chairman and Chief Executive Christopher
Lenta Names Vitaly Valkov as New Chief Commercial Officer
Lenta PLC said Friday that it has appointed Vitaly Valkov as
chief commercial officer, effective from Thursday.
Actual Experience Shares Rise as FY 2022 Pretax Loss Narrowed on
Shares of Actual Experience PLC rose Friday after the company
said that its fiscal 2022 pretax loss narrowed on lower operating
costs, though revenue fell.
Amigo Shares Drop as Capital Raise Still Not Secured
Shares in Amigo Holdings PLC fell 20% on Friday after the
company said it still hasn't secured a big enough investment
commitment to support the capital raise it needs to complete by May
26 to avoid a wind-down of the business.
Chesterfield Resources Shares Fall as Adeline Project Sale
Shares of Chesterfield Resources PLC fell as much as 22% on
Friday after the company said that Pacton Gold Inc. has pulled out
of the deal to buy the Adeline project as reported last October,
without providing any explanation.
Taylor Maritime 3Q Net Asset Value Slipped on Weak Charter
Taylor Maritime Investments Ltd. on Friday said its fiscal 2023
third-quarter net asset value per share edged down on a subdued
charter market, but that it sees a positive outlook for the next
couple of years.
Sovereign Metals Says Mkango Project Approval Could Be
Encouraging Sign for Kasiya Project
Sovereign Metals Ltd. said Friday that Mkango Resources Ltd.'s
announcement that it has received approval from the Malawi
Environmental Protection Authority for its Songwe Hill rare earths
project could be seen as an encouraging sign for its own Kasiya
rutile project in Malawi.
Vertical Aerospace Names John Martin New Finance Chief
Vertical Aerospace Ltd. said Friday it has appointed John Martin
as finance chief.
Land Securities Sells Central London Building for GBP350 Mln
Land Securities Group PLC said Friday that it has completed the
sale of its One New Street Square building to Hong Kong-based
developer Chinachem Group for 349.5 million pounds ($433.7
Direct Line's CEO Takes on Stock Plunge Blame, Says AJ Bell
1031 GMT - It was what lay behind Direct Line's dividend
scrapping that did it for Penny James, says AJ Bell in a market
comment after the non-life insurer said its CEO stepped down. "You
can't walk away from the kind of stock market disaster served up by
Direct Line this month without a senior executive carrying the
can," says investment director Russ Mould, adding the group's
statement remains open to interpretation on whether "she jumped or
was pushed". The group left its capital buffers too bare to cope
with 2022's extreme weather events as it bought back its own shares
during the year and put itself in a perilous position, he says.
Shares are down 0.8% at 177.35 pence, having lost 20% year to date.
Paragon Banking's Net-Interest-Margin Guidance Hike Looks Like a
Confident Move, Jefferies Says
1117 GMT - Paragon Banking's early net-interest-margin guidance
increase signals confidence, Jefferies says in a note. The
specialist property-and-business lender raised its view to 25 basis
points from 20 bps after a first-quarter boost in new lending.
"This is clearly positive, and to do it so early in the year
indicates a high level of confidence," say analysts at the
brokerage. It rates the stock buy and sees its 700-pence price
target as within reach though it holds off on changing forecasts
given second-quarter lending levels may be lower since the
September quasi-budget closed the mortgage market for October.
Shares rise 2.1% to 597.0 pence. (firstname.lastname@example.org)
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(END) Dow Jones Newswires
January 27, 2023 12:15 ET (17:15 GMT)
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