UKX FTSE 100 Index

The FTSE 100 closed 1.3% lower at 7,510.72 points on Monday, as U.K. yields pushed higher on concerns that the Bank of England may have to hike rates again by the end of the year, CMC Markets' U.K. Chief Market Analyst Michael Hewson says in a research note. Bright spots were few and far between, he says. One was the U.K. defense sector, with BAE Systems gaining 1.1% after winning a GBP4-billion contract from the government for nuclear submarines. Water company United Utilities also outperformed the wider index, rising 0.3% after releasing a GBP13.7-billion investment plan to improve water infrastructure.

COMPANIES NEWS:

United Utilities Outlines Five-Year GBP13.7 Bln Investment Plan

United Utilities Group plans to invest 13.7 billion pounds ($16.7 billion) in its waste and wastewater infrastructure between 2025 and 2030, creating new jobs.

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Thruvision Warns of Miss on FY 2024 Expectations Due to US Government Order Delay

Thruvision Group said it will miss current market expectations for the fiscal 2024 revenue due to a delay on an order from U.S. Customs and Border Protection.

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Renew Holdings Sees Results Ahead of Market Expectations as Momentum Continues

Renew Holdings said it expects adjusted revenue and adjusted operating profit for fiscal 2023 to be marginally ahead of market expectations, and that this reflected its resilient and differentiated business model.

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Peel Hunt Sees 1H Revenue Edging Up

Peel Hunt expects to post a slight rise in revenue for the first half of the fiscal year compared with the same period the previous year.

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Pennon Group Sets Out Five-Year GBP2.8 Bln Investment Plan

Pennon Group said its performance for the first half of fiscal 2024 was in line with expectations and that it has submitted a business plan to the U.K. water services regulator.

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Accesso Technology Launches Buyback Program of Up to GBP4 Mln

Accesso Technology Group said it has launched a share buyback program of up to 4 million pounds ($4.9 million).

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Beeks Financial Cloud Swings to Pretax Loss on Higher Costs

Beeks Financial Cloud Group has reported a swing to pretax loss for the first half of the year due to increased costs related to software development and engineering functions, and despite revenue growing.

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James Halstead Lifts Dividend After Pretax Profit Rose Slightly

James Halstead said fiscal 2023 pretax profit rose slightly as increased revenue offset inflationary pressure on costs, and lifted its dividend payout.

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XP Power Sees Weaker Market Demand Dampening 2023 Profit, Dividend

XP Power sees operating profit for 2023 below its views as weaker end-market demand is expected to continue for the rest of the year, and scrapped its dividend payments given current circumstances.

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East Star Resources to Raise GBP540,000 to Advance Kazakhstan Licenses

East Star Resources said it will raise 540,000 pounds ($658,746) via a discounted placing and that it will use the proceeds toward the development of its Kazakhstan licenses.

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Mila Resources Raises GBP2 Mln Via Placing For Further Gold Exploration

Mila Resources has raised 2 million pounds ($2.4 million) through a conditional placing to conduct further gold exploration work alongside Liontown Resources' lithium project in Australia.

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Apax Global Alpha Chairman to Retire in 2024; Karl Sternberg Named as Successor

Apax Global Alpha said Chairman Tim Breedon has indicated he wishes to retire from the board in 2024, and named Karl Sternberg as his expected replacement.

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Scirocco Energy Shares Rise After Ruvuma Divestment Gets Ministerial Approval

Scirocco Energy shares rose after the company said it got approval from Tanzania's energy ministry for the sale of its 25% stake in the Ruvuma gas project.

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Quadrise Warns on Going Concern Uncertainty; Pretax Loss Widens

Quadrise said there is material uncertainty about its ability to continue as a going concern, and that its pretax loss for the first half of the year widened due to increased operational costs.

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Advanced Medical Solutions Appoints Director Liz Shanahan as Chair

Advanced Medical Solutions said it has appointed current nonexecutive director Liz Shanahan as chair.

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Vast Resources Shares Rise on Debt-Extension Talks

Shares in Vast Resources rose after the company said it is discussing a further extension to a debt which would give it more time to finalize the settlement.

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Genel Energy Shares Rise After $20 Mln Bond Buyback Offer

Shares of Genel Energy rose after the company announced an offer to buy back around $20 million in bonds.

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Orcadian Energy Shares Rise After UK Licensing Round Update, GBP350,000 Raise

Orcadian Energy shares jumped after the group gave an update on the outcome of its application in the U.K.'s 33rd offshore licensing round and said it raised 350,000 pounds ($426,965) from new investors through the issue of new shares.

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Corero Network Security Generates $2 Mln in Orders for DDoS Protection Solutions

Corero Network Security said it has received around $2 million third-quarter orders for its SmartWall distributed denial of service protection solutions.

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R8 Capital to Buy Redwood Bank in More Than GBP50 Mln Reverse Takeover

R8 Capital Investments said it agreed to buy Redwood Financial Partners, the parent company of specialist business lender Redwood Bank, for more than 50 million pounds ($61 million) in shares through a deal that would constitute a reverse takeover.

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Alternative Income REIT Swings to Pretax Loss; Portfolio Performance Drops

Alternative Income REIT has reported a swing to pretax loss for the first half of the year due to increased inflation and interest rates, and a drop in the value of its properties.

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John Lewis Partnership Chairman Starts Process to Appoint Successor

John Lewis Partnership said Chairman Sharon White has asked the board to start the process to appoint a successor, as she enters the latter stages of her five-year term.

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Greencoat Renewables Buys 22.5% Stake in Offshore Wind Farm

Greencoat Renewables said it has reached an agreement to acquire an additional 22.5% stake in the Butendiek offshore wind farm from an affiliate of Siemens Pension Trust, for a total deal value of around 168 million euros ($177.6 million).

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BP, Adnoc Bid for NewMed at Risk as Review Panel Seeks Higher Price, Reuters Reports

BP and Abu Dhabi National Oil Co., known as Adnoc, have been advised to raise their joint $2 billion bid for a 50% stake in Israeli gas producer NewMed by 10% to 12% by a panel reviewing the offer, Reuters reports, citing people close to the matter.

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

October 02, 2023 13:08 ET (17:08 GMT)

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