The FTSE 100 closed Monday slightly up 0.25% to 7784, lifted by
consumer-goods and oil-exposed sectors, amid weaker trading in
global markets as investors focus on central-bank meetings this
week, IG chief market analyst Chris Beauchamp says in a note. "A
glance at the calendar for the week would be enough to deter all
but the most swashbuckling of investors from taking new positions,
so it is hardly surprising to see some of the recent bullishness
fade away," he says. Among the index top risers, Sainsbury rose
4.1%, followed by Auto Trader and Kingfisher, up 2.8% and 2.6%,
respectively. On the other hand, Asia-focused bank Standard
Chartered closed the day down 3.4%. Legal & General fell 1.8%
after the insurer said CEO Nigel Wilson plans to retire from the
board after 10 years in the role.
Unilever Appoints Hein Schumacher as New CEO
Unilever PLC said Monday that it has appointed Hein Schumacher
as its new chief executive officer, replacing Alan Jope who
announced in September his plan to retire from the company.
Shell to Reduce Size of Executive Committee to Improve
Shell PLC said Monday that it will reduce its executive
committee from nine to seven members to further simplify the
organization and improve performance.
Legal & General CEO Nigel Wilson to Retire
Legal & General Group PLC said Monday that Chief Executive
Nigel Wilson plans to retire from the board after 10 years in the
role, and that it will start the search for his replacement.
SThree FY 2022 Pretax Profit Rose on Record Net Fee
SThree PLC said Monday that pretax profit for fiscal 2022 rose
as it booked record net fee performance.
888 CEO to Immediately Leave Role
888 Holdings PLC said Monday that Chief Executive Itai Pazner
will immediately leave his role.
Finsbury Food Buys Lees Foods for GBP5.7 Mln
Finsbury Food Group PLC said Monday that it has bought
confectionery maker Lees Foods Ltd. for 5.7 million pounds ($7.1
million) in cash.
Capital & Counties Properties Says Business Conditions Have
Capital & Counties Properties PLC said Monday that trading
conditions across the Covent Garden estate have been positive over
the past year, with Christmas like-for-like customer sales
exceeding prepandemic levels.
Shaftesbury 1Q Occupier Levels Rose; Declares Interim
Shaftesbury PLC on Monday said its first-quarter occupier
turnover was 42% higher than the previous year when it was affected
by the Omicron coronavirus variant, and declared an interim
888 Suspends Some Online Activities Amid Compliance
888 Holdings PLC said Monday that it has suspended VIP
activities in certain online markets pending the outcome of an
internal compliance investigation.
Computacenter Sees 2022 Result Slightly Ahead of Guidance
Computacenter PLC said Monday that it expects its 2022
performance to be slightly ahead of guidance after a strong fourth
quarter but anticipates inflationary pressures to continue into
Civitas Social Housing Sees Continued Rent Growth in 3Q
Civitas Social Housing PLC said Monday that received rents have
continued to grow in its third quarter, with collections in line
Personal Group 2022 Revenue Rose; Sees Profitable Growth in
Personal Group Holdings PLC said Monday that revenue grew in
2022 and that it expects profitable growth in 2023.
Unilever Taps Dairy Boss as New CEO -- Update
By Peter Stiff
Centralnic to Report Record Revenue, Market-Beating Earnings for
Centralnic Group PLC said Monday that it expects to report
record revenue for 2022 and to beat market forecasts, driven
largely by the growth of the online marketing segment.
DP Eurasia Expects to Beat 2022 Adjusted Ebitda Views After Jump
DP Eurasia NV said Monday that it expects to beat adjusted core
profit expectations for 2022 as it reported a rise in group system
sales for the year.
Impellam Sees 2022 Results Ahead of Views, Declares Special
Dividend After Disposal
Impellam Group PLC on Monday said it sees 2022 results come in
ahead of expectations and that it is selling its regional
specialist and healthcare staffing businesses, leading it to
declare another special dividend of 77.7 pence per share once the
transaction is completed.
Sopheon to Report Market Beating 2022 Revenue, Adjusted
Sopheon PLC said Monday that it expects to report a rise in 2022
revenue and adjusted Ebitda and to beat market forecasts.
Inspired Energy Shares Rise as 2022 Revenue, Ebitda Expected to
Shares of Inspired Energy PLC rose as much as 15% in early trade
on Monday after the company said that its 2022 revenue beat market
expectations on a strong final half of the year and a
higher-than-than expected growth in its optimization services.
Norcros CEO to Step Down; Replacement Appointed
Norcros PLC said Monday that Chief Executive Nick Kelsall has
decided to retire after 30 years with the company, and that Thomas
Willcocks has been appointed as his successor.
Lenta Sales Rose 11% in 2022
Lenta PLC said Monday that sales rose 11% on year in 2022,
despite lower consumer confidence denting its fourth-quarter
888 CFO to Stay Until End of 2023 After CEO Departure,
888 Holdings PLC said Monday that Chief Financial Officer Yariv
Dafna has agreed to remain in his post until the end of 2023 rather
than stepping down on March 31.
Kelso Group Director Steps Down, Names Nigel Knowles as
Kelso Group Holdings PLC said Monday that Adam Rhodes has
stepped down as director with immediate effect and that it has
named Nigel Knowles as nonexecutive chairman.
Constance Iron to Raise GBP60 Mln in London IPO
Constance Iron Ltd. said Monday that it is considering floating
on the London Stock Exchange's main market and is targeting to
raise around 60 million pounds ($74.4 million) via a share
Unilever Taps Dairy Boss as New CEO -- 2nd Update
By Peter Stiff
Trending: Unilever Names Hein Schumacher as New CEO
1054 GMT - Unilever PLC is among the most mentioned topics
across news items over the past four hours, according to Factiva
data, after the company named its new chief executive officer, a
move that was welcomed by the market. The owner of Ben &
Jerry's ice cream and Dove soap has appointed Dutch dairy
co-operative boss Hein Schumacher as CEO, replacing Alan Jope who
is retiring. Unilever has weathered economic turbulence pretty well
and the market has welcomed Schumacher's appointment in expectation
he will help steady the ship further, Hargreaves Lansdown says.
"He's the current CEO of the Dutch dairy and food giant,
FrieslandCampina, so he'll be seen both as a safe pair of hands and
a fresh injection of ideas for the company," HL analyst Susannah
Streeter writes. RBC Capital Markets analysts James Edwardes Jones
and Emma Letheren say the company is seen needing a cultural and
organizational shake-up but it's likely to be a while before any
results materialize. "It usually takes about 18 months before we
see evidence of improved execution and a re-rating of the shares of
a consumer staples company," they say in a research note. Shares
are trading 0.6% higher at 4,044.50 pence. Dow Jones & Co. owns
Trinity Exploration & Production 2022 Production Meets
Guidance-- Energy Comment
Trinity Exploration & Production PLC on Monday reported
slightly lower production for last year, in line with guidance.
Here's what the Trinidad and Tobago-focused oil company had to
Braime Group Names Carl and Alan Braime as Joint CEOs, Nicholas
Braime Steps Down
Braime Group PLC on Monday named Carl and Alan Braime as joint
chief executive officers effective on Feb. 1, as Nicholas Braime
steps down from the role.
Fevertree Faces Significant Complexity 2023 and Beyond
1123 GMT - Fevertree Drinks is set for accumulating headwinds,
with 2022's sales miss only cementing concerns, RBC Capital Markets
analysts Emma Letheren and James Edwardes Jones say in a note.
"Seven profit warnings and evidence of further cost headwinds to
come prevent us from giving Fevertree the benefit of the doubt that
glass costs are the last cost headwind it will face," they say.
According to industry contracts, the drinks company could also face
temporary disruption in the U.S. market due to macroeconomic
pressures, the analysts add. RBC has an underperform rating on the
stock and a price target of 800 pence. (email@example.com)
Insurance CEOs Played Musical Chairs in January, Says
1139 GMT - Six European insurers in Berenberg's coverage have
announced a change of chief executive officer so far this year.
This shows investors are more in a hurry for results in an
inflationary context that makes it more challenging for insurers to
deliver as well as a sharper focus on governance, analysts at the
brokerage say in a note after the news that Legal & General's
CEO is retiring and Direct Line's agreed to step down. "Six in one
month is a lot, given that in 2020-22 there were just eight
changes, an average of just under three per year," they say.
Looking at their track record, Berenberg concludes that change has
generally been positive for relative stock performance and
particularly good when the appointee was an outsider.
888 Has Tricky Waters to Navigate After Damaging News
1140 GMT - 888's announcement that it is suspending VIP accounts
in the Middle East over anti-money laundering best practices not
being followed is incredibly damaging and new Executive Chairman
Jon Mendelsohn now has tricky waters to navigate, AJ Bell
investment director Russ Mould says in a note. Combined with the
news of the departure of CEO Itai Pazner, the market is likely to
draw its own conclusions, Mould says. "Longer term the betting
industry faces scrutiny for the harm it does to wider society--with
those harms only likely to be magnified against a more difficult
economic backdrop," he says. Shares trade down 27% at 75.15 pence.
Pets at Home Likely to Report Robust 3Q Growth
1149 GMT - Pets at Home is due to report a positive 3Q
performance tomorrow given recent updates from peers that indicate
a robust market and resilient demand for veterinary care and strong
sales in accessory-related categories, Shore Capital analysts
Eleonora Dani and Clive Black say in a note. The read across the
sector drives expectations for the pet-care company to report
robust growth in both retail and veterinary division revenues, they
say. "Despite recent share price gains, Pets at Home remains
attractively valued at around 30% discount to historical averages,"
the analysts add. Shore has a buy rating on the stock and a price
target of 334 pence. (firstname.lastname@example.org)
European Stocks Fall Ahead of Likely US Losses
1150 GMT - European stocks drop after mixed Asia trading and
ahead of an expected lower U.S. open. The Stoxx Europe 600 falls
0.8%, the FTSE 100 retreats 0.2%, the CAC 40 backtracks 0.9% and
the DAX sheds 1%. Brent crude gains 0.1% to $86.45 a barrel.
Markets in Australia, Hong Kong and South Korea fell, though stocks
in mainland China and Japan rose. IG futures data show the Dow
opening at 33718, versus Friday's close of 33978. "Investors are
re-focusing their minds on interest rates, with the U.S. Federal
Reserve expected to hike its rates by 25 basis points and the
European Central Bank and Bank of England by 50 basis points this
week," IG analysts write. (email@example.com)
Ryanair's 3Q Beat Was Flattered by FX Gains, Says Liberum
1200 GMT - Positive sentiment around Ryanair's strong
third-quarter results might be moderated by the foreign exchange
gain that flattered the figures, says Liberum in a note. "The
results were flattered by a EUR67m FX gain and the pre-exceptional
figures excluded a fuel option mark-to-market loss (EUR10m pre-tax,
EUR9m post-tax)," analyst Gerald Khoo says after the Irish budget
airline swung to a pre-exceptional post-tax profit of EUR211
million in the quarter, beating its EUR200 million guidance.
Liberum rates the stock buy with a target price of EUR17. Shares
fall 2.7% to EUR15.10. (firstname.lastname@example.org)
L&G Share Weakness Shows Investors Lamenting CEO
1204 GMT - Legal & General's share drop shows the esteem in
which departing boss Sir Nigel Wilson is held by shareholders after
more than 11 years at the helm, AJ Bell says. "The life insurer's
341% total return since he took over in June 2012 beats the FTSE
100's 120.2% hands down," investment director Russ Mould notes. The
stock, which falls 3% at 253.0 pence, is the FTSE 100's
second-worst performer. (email@example.com)
Computacenter Is Cheap And Cheerful, Goodbody Says
1223 GMT - Computacenter sits on a large discount to peers,
Goodbody says after the U.K. information-technology group's
"pleasing" 2022 update marked an 18th year of unbroken growth, a
sector record. "The only negative: No investor meeting and few
details in the statement. But the worry beads are back in the box,"
analyst George O'Connor says, tweaking estimates up. Goodbody has a
buy rating on the stock. Shares are up 8.1% at 2,154.0 pence, its
highest price since September. (firstname.lastname@example.org)
Diploma Sees Buoyant Demand and M&A Opportunities
1231 GMT - Diploma's first-quarter update showed strong organic
volume and mix and the second quarter has started strongly with
buoyant demand and the M&A pipeline remaining encouraging,
Shore Capital's Akhil Patel and Tom Fraine say in a research note.
The U.K. supplier of specialized technical products and services
should make adjusted Ebita of GBP208.2 million for fiscal 2023, up
around 9% on year, they say. Shore Capital retains its buy
recommendation with a fair value of 3,350 pence on the stock.
Shares trade up 0.2% at 2,732.00 pence.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
January 30, 2023 12:01 ET (17:01 GMT)
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