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
United Utilities Outlines Five-Year GBP13.7 Bln Investment
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.
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.
Renew Holdings Sees Results Ahead of Market Expectations as
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.
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
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.
Accesso Technology Launches Buyback Program of Up to GBP4
Accesso Technology Group said it has launched a share buyback
program of up to 4 million pounds ($4.9 million).
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
James Halstead Lifts Dividend After Pretax Profit Rose
James Halstead said fiscal 2023 pretax profit rose slightly as
increased revenue offset inflationary pressure on costs, and lifted
its dividend payout.
XP Power Sees Weaker Market Demand Dampening 2023 Profit,
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
East Star Resources to Raise GBP540,000 to Advance Kazakhstan
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.
Mila Resources Raises GBP2 Mln Via Placing For Further Gold
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
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.
Scirocco Energy Shares Rise After Ruvuma Divestment Gets
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.
Quadrise Warns on Going Concern Uncertainty; Pretax Loss
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.
Advanced Medical Solutions Appoints Director Liz Shanahan as
Advanced Medical Solutions said it has appointed current
nonexecutive director Liz Shanahan as chair.
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.
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.
Orcadian Energy Shares Rise After UK Licensing Round Update,
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.
Corero Network Security Generates $2 Mln in Orders for DDoS
Corero Network Security said it has received around $2 million
third-quarter orders for its SmartWall distributed denial of
service protection solutions.
R8 Capital to Buy Redwood Bank in More Than GBP50 Mln Reverse
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.
Alternative Income REIT Swings to Pretax Loss; Portfolio
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.
John Lewis Partnership Chairman Starts Process to Appoint
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.
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).
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.
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(END) Dow Jones Newswires
October 02, 2023 13:08 ET (17:08 GMT)
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