The FTSE 100 closed up 0.11% Thursday, though it slightly
underperformed more positive European peers as surging gilt yields
weigh on the index. House builders and real estate stocks are
bearing the brunt of the rise in yields, with Barratt Developments,
Taylor Wimpey and Rightmove the worst performers on the U.K.
benchmark, says CMC Markets UK chief market analyst Michael Hewson.
"On the flip side, basic resources are helping to limit the
underperformance in the U.K. with gains for Anglo American,
Antofagasta and Rio Tinto," Hewson says.
Deliveroo to Return Up to GBP250 Mln via Premium Tender
Deliveroo is planning to return up to 250 million pounds ($303.4
million) to shareholders via a premium tender offer, which opens
Diageo Backs FY 2024 Views Despite Persistent Cost Pressures
Diageo said expectations for fiscal 2024 remain unchanged
despite warning of persistent continuing cost pressures and
Babcock International Underlying Operating Profit Rises Amid
Babcock International Group said its performance for the first
five months of fiscal 2024 has been encouraging, and that
year-on-year underlying operating profit rose and was driven by
Mitchells & Butlers Backs Full-Year View After
Fourth-Quarter Sales Grew
Mitchells & Butlers said it still expects results for the
full fiscal year in the top end of market views after its
fourth-quarter sales rose, although at a slightly slower pace than
in the preceding quarter.
HSS Hire Group Sees Weaker Performance in 2H After First-Half
Pretax Profit Fell
HSS Hire Group said pretax profit for the first half of 2023
fell amid higher costs and warned that performance in the second
half has slowed considerably.
Avation Pretax Profit Falls on Lower Rental Revenue
Avation said first-half pretax profit fell as lease rental
revenue decreased, and that an airline has reduced its arrears
payments by $5.1 million since June.
FRP Advisory Sees FY 2024 at Least in Line With Views
FRP Advisory Group expects its full-year performance to at least
meet market views if current activity levels continue as business
since the start of fiscal 2024 has been encouraging, it said.
Crossword Cybersecurity Pretax Loss Widens on Rising Costs
Crossword Cybersecurity said its pretax loss widened in the
first half of the year, partly on rising expenses, despite revenue
XLMedia Pretax Profit Rises on Reversal of Impairment Charge
XLMedia reported a higher pretax profit for the first half of
the year after booking a reversal on an impairment, and despite a
drop in revenue due to declining activity in North America and
Arcelik Asked by UK Regulator to Offer Remedies Over Whirlpool
The U.K. Competition and Markets Authority said Thursday it will
refer Arcelik's planned merger of one of its units with Whirlpool's
European major appliances business for an in-depth phase 2 probe,
unless the company offers to remedy competition concerns.
STM Group Pretax Profit Falls, Interim Dividend Scrapped Due to
STM Group posted a fall in pretax profit for the first half of
2023 on heavier costs despite reporting higher revenue and said it
isn't paying out an interim dividend due to continuing talks about
a possible takeover offer by Pension SuperFund Capital.
MetalNRG Examines Reverse Takeover, Dual-Listing Options After
MetalNRG is considering a reverse takeover and a dual listing on
the Toronto Stock Exchange following a strategic business review,
the natural-resources investment company said Thursday.
888 Holdings Cuts 2023 Views on Weak 3Q Performance
888 Holdings downgraded its expectations for the full year on
the back of a weak third-quarter performance and further
investments to support medium-term growth.
NWF Group Backs FY 2024 Expectations After 1Q Was in Line With
NWF Group said its first-quarter performance has been in line
with the board's expectations, and backed its fiscal 2024
AB Dynamics 2023 Revenue Will Exceed GBP100 Mln on Strong 2H
AB Dynamics said fiscal 2023 revenue will exceed 100 million
pounds ($121.3 million) due to a better-than-anticipated
performance in the latter part of the year, and that this will
result in adjusted operating profit beating market
FIH Group Says Outlook Remains Positive Despite Mixed
FIH Group's business outlook remains positive despite mixed
performances in its business units during the first five months of
fiscal 2024, the AIM-listed international services group said
B90 Pretax Loss Widens; May Need to Raise Funds if Business
B90 Holdings reported a widened pretax loss for the first half
of the year due in part to new acquisitions and increased marketing
spending, and said it may need to raise extra funds if business
Shield Therapeutics Shares Fall After Discounted Equity
Shield Therapeutics shares fell on Thursday after the company
said it intends to raise up to $27.4 million through a debt
facility and discounted equity raise as it seeks to accelerate its
commercial activity in the U.S.
Colefax Sees FY 2023 in Line Despite Challenges Ahead
Colefax Group said fiscal 2023 performance remains in line with
expectations, but that it continues to expect worsening conditions
ahead on the back of higher interest rates.
Mobile Tornado Group's Pretax Loss Narrowed, Revenue Rose
Mobile Tornado Group said its pretax loss narrowed in the first
half of the year, mainly on a foreign-exchange gain, while revenue
rose 14%, despite a challenging economic environment.
Digital 9 Infrastructure Shares Fall on Swing to Pretax Loss,
Shares in Digital 9 Infrastructure fell after the company
reported a swing to pretax loss after booking a loss on its
investments and said it won't declare a dividend to prioritize
liquidity due to higher interest rates.
Ceres Power Holdings Pretax Loss Widened on Higher Costs
Ceres Power Holdings reported a widened pretax loss for the
first half of the year, despite revenue growth, as operating costs
N4 Pharma Acquires Major Stake in Nanogenics Through Discounted
Share Placing; Shares Fall
N4 Pharma shares fell after the group conducted a discounted
share placing to acquire a 71.25% interest in Nanogenics Ltd. for
250,000 pounds ($303,375).
Silver Bullet Data Services Shares Fall After Going-Concern
Silver Bullet Data Services Group shares fell on Thursday after
the company said alongside its first-half results that there is
material uncertainty around its future if it doesn't secure extra
funding in the short term.
Safestore Holdings Finance Chief to Retire
Safestore Holdings said Chief Financial Officer Andy Jones will
retire after 10 years with the company, and that it has started an
external candidate search.
Let's Explore to Buy Huddled Group for GBP3.95 Mln; Pretax Loss
Widens on Revenue Fall
Let's Explore Group said it has conditionally agreed to buy
Huddled Group and its subsidiaries for 3.95 million pounds ($4.8
million), and that its first-half pretax loss widened as revenue
Hummingbird Resources Shares Fall After Warning of Possible
Shares in Hummingbird Resources fell 14% after the company
Thursday warned that it might need to divest assets if it doesn't
meet its production targets, lower costs or get additional
Saietta Shares to Be Suspended After FY 2023 Earnings Delay
Saietta shares will be suspended from trading after the company
said it won't be able to publish fiscal 2023 earnings before the
deadline due to technical accounting issues.
Science In Sport Pretax Loss Narrows on Cost Cuts, Revenue
Science In Sport has reported a narrowed pretax loss for the
first half-year as it cut costs and revenue grew on the back of
record performance over the past four months.
Hipgnosis Songs Fund Chairman Andrew Sutch to Retire
Hipgnosis Songs Fund said Chairman Andrew Sutch plans to retire
once a suitable replacement has been found, and by next year's
annual shareholder meeting.
PHSC's Revenue, Earnings Fell in First Five Months of Fiscal
PHSC said revenue and earnings have fallen slightly on year in
the first five months of fiscal 2024.
Kropz Narrows Loss; Reports Maiden Revenue After First Sales
Kropz said its pretax loss has narrowed and reported its maiden
revenue, as subsidiary Kropz Elandsfontein recognised its first
Macquarie Asset Management Considers Offer for Renewi --
Macquarie Asset Management said it is considering a possible
cash offer for waste-management business Renewi, after having a
636.3-million pound ($772.2 million) proposal rejected on
Mitchells & Butlers Continues to Outperform Market
1247 GMT - Mitchells & Butlers published a strong trading
statement as it continues to perform better than the market,
Liberum analysts Anna Barnfather and Nishant Dahad write in a
research note. The U.K. pub-and-restaurant operator has maintained
its pace of growth with 9.7% like-for-like sales growth in the
fourth quarter, driven by increased volume and spend per head,
bringing the year-to-date growth to 9.1%, the say. "It continues to
trade ahead of the wider market as benchmarked by the Coffer CGA
Business Tracker--which recorded 7.8% growth in July and 5.3% in
August--helped by the balance and breadth of its estate," the
analysts say. Liberum keeps a buy rating on the stock, with a 310.0
pence price target. Shares are up 4.9% at 225.0 pence.
UK Bank Ringfencing Changes Would Improve Customer Choice, UK
1231 GMT - Proposed changes to the U.K.'s "ringfencing" regime
for banks enhance customer choice and competition, U.K. banking and
financial services trade association, UK Finance, says after the
government opened a consultation on the reforms. The rules
ringfence retail deposits in banks with deposits of GBP25 billion
or more, aiming to protect household savings from risky
investments. The changes include raising the deposit threshold by
40% to GBP35 billion, exempting retail-focused banks and allowing
ring-fenced banks to operate outside of the U.K. or the European
Economic Area. "Alongside this we continue to urge the government
to review the long-term need for the ring-fencing regime,
recognising the significant changes to bank resolvability since the
regime was first introduced in 2019," financial & risk policy
principal Nala Worsfold says. (email@example.com)
ZOO Digital Seen Investing in Future Despite Short-Term Industry
1225 GMT - Although the writer's strike has ended, the
disruption to the TV and film industry is still taking its toll on
ZOO Digital, AJ bell analyst Russ Mould says on a note. The
subtitles and dubbing services company had been banking on order
levels going back to normal from October, but said this now looks
unlikely amid limited earnings visibility, Mould says. Still,
Hollywood will be eager to get back to work so this might simply be
a short-term rocky period, he says. "The fact it will continue to
invest in dubbing capabilities in hope of a rapid rebound in work
shows the board is thinking about the long-term prize, not
panicking because of short-term problems," Mould says. Shares are
up 4.2% at 404.80 pence. (firstname.lastname@example.org)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
September 28, 2023 12:06 ET (16:06 GMT)
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