The FTSE 100 closed Thursday down 3.82% as Russia invaded
Ukraine in the early hours of the morning, sending equity markets
around the world sharply down. Russian miners Polymetal
International PLC and Evraz PLC were the index's biggest
fallers--both plunging more than 30%--however, Brent crude oil
prices have risen to more than $100 for the first time since 2014,
as investors fled to the relative safety of oil, gold and U.S.
dollar. "While the E.U. and the U.S. have said they will hit back
with further sanctions, it is highly unlikely that this will change
Putin's calculus, given that the nuclear option of shutting Russia
out of energy markets and Swift isn't yet on the table," CMC
Markets UK says.
Companies News:
St. James's Place 2021 Pretax Profit Rose, Driven by Higher
Demand
St. James's Place PLC said Thursday that pretax profit nearly
doubled in fiscal 2021, driven by higher client demand and a more
favorable environment after the pandemic-related disruptions.
---
WPP Swung to 2021 Pretax Profit
WPP PLC on Thursday reported a swing to pretax profit for 2021,
as top-line growth was driven by strong demand for services in
digital marketing, media, e-commerce and technology.
---
Serco Group's 2021 Pretax Profit Rose; Start to 2022 Strong
Serco Group PLC reported Thursday a significant rise in pretax
profit for 2021 and said its guidance for 2022 remains unchanged,
noting that it had a strong start to the year.
---
Rolls-Royce 2021 Pretax Loss Narrowed; CEO Warren East to Step
Down
Rolls-Royce Holdings PLC on Thursday reported a narrowed pretax
loss for 2021 and said that Chief Executive Officer Warren East
will be stepping down at the end of this year after almost eight
years in the role.
---
BAE Systems 2021 Pretax Profit Rose on Higher Sales
BAE Systems PLC said Thursday that pretax profit rose in 2021 on
higher sales, and that in 2022 it looks forward to continuing
top-line growth with margin expansion and good cash delivery
against its rolling targets.
---
Anglo American Declares $1 Bln Special Dividend as 2021 Profit
Quadrupled
Anglo American PLC on Thursday declared a special dividend of
$1.0 billion and reported that its net profit quadrupled in 2021 on
the back of higher commodity prices.
---
Hikma Pharmaceuticals 2021 Pretax Profit Fell on Higher Costs;
Launches $300M Buyback Program
Hikma Pharmaceuticals PLC said Thursday that 2021 pretax profit
fell after booking higher costs, and that it is launching a share
buyback program of up to $300 million.
---
Lloyds 4Q Pretax Profit Rise Missed Market Views on High
Fraud-Related Costs
Lloyds Banking Group PLC on Thursday reported a rise in pretax
profit for the fourth quarter of 2021 that fell short of market
views as it booked high fraud-related costs, and said it intends to
launch a share buyback program of up to 2 billion pounds ($2.71
billion).
---
Centrica 2021 Profit Rose; Says Dividends to Restart Soon
Centrica PLC on Thursday reported a significantly improved
profit for 2021 and said that it should be in a position to restart
its dividend soon.
---
Amigo Holdings Swung to a Nine-Month Pretax Profit
Amigo Holdings PLC reported on Thursday a swing to a pretax
profit for the first nine months of fiscal 2022.
---
Drax Swung to 2021 Pretax Profit But Ebitda Was Hurt by Major
Outage
Drax Group PLC on Thursday reported a profit for 2021 although
its underlying performance was hurt by a major planned generation
outage on one biomass unit.
---
Costain Group Pays National Grid GBP43.4 Mln to Settle Legacy
Contract
Costain Group PLC said Thursday that it has made a full and
final payment of 43.4 million pounds ($58.8 million) to National
Grid PLC in settlement of the legacy Peterborough and Huntingdon
contract.
---
Hays Raises 2022 Op Profit Views, Driven by Gains in Business
Confidence
Hays PLC said Thursday that it expects operating profit for 2022
to be above market expectations, as it is benefiting from strong
performance in all regions as business confidence increases after
pandemic-related disruptions.
---
Noble Corp's Proposed Acquisition of Maersk Drilling
Investigated by UK Regulator
The U.K. Competition and Markets Authority said Thursday it is
starting an investigation into the acquisition by Noble Corp. of
The Drilling Company of 1972 A/S, known as Maersk Drilling.
---
Go-Ahead Makes GBP30M Provision for Potential U.K. Fine; 2021
Pretax Loss Narrowed
Go-Ahead Group PLC said Thursday that it was making a 30 million
pounds ($40.6 million) provision for a potential financial penalty
from the U.K.'s Department for Transport, as it reported a narrowed
pretax loss for 2021 on increased revenue.
---
Inchcape Swung to 2021 Pretax Profit; Raises Dividend and
Launches GBP100 Mln Share Buyback
Inchcape PLC on Thursday posted a pretax profit for 2021 on the
back of solid consumer demand and higher vehicle gross margins due
to vehicle supply shortages, increased its dividend payout and
outlined a share buyback program.
---
Open Orphan Appoints Yamin Khan as CEO
Open Orphan PLC said Thursday that it has appointed Yamin Khan
as chief executive officer with immediate effect.
---
Rathbones Group 2021 Pretax Profit More Than Doubled
Rathbones Group PLC on Thursday reported a more-than-doubled
pretax profit for 2021, and said funds under management
increased.
---
Howden Joinery FY 2021 Pretax Profit Rose on Higher Revenue
Howden Joinery Group PLC said on Thursday that pretax profit
rose for fiscal 2021 as revenue increased, and that it has made an
encouraging start to the new year.
Market Talk:
Pound Likely to Extend Losses Vs Dollar on Russia-Ukraine
Crisis
1028 GMT - Sterling should weaken further versus the dollar
after Russia launched an unprecedented invasion of Ukraine, MUFG
Bank says. The market had already lowered its U.K. interest rate
rise bets in recent days after comments from Bank of England
officials and could further rein in those expectations in response
to the conflict, MUFG currency analyst Lee Hardman says in a note.
"The scaling back of more aggressive BOE rate hike expectations in
the near-term combined with more risk-off trading conditions should
see cable [GBP/USD] correct lower and test year to date lows at
1.3358 in the coming weeks," he says, noting the dollar's safe
haven status. GBP/USD falls 0.9% to a three-and-a-half-week low of
1.3419, according to FactSet. (renae.dyer@wsj.com)
---
Derwent London Faces Challenges Ahead
1027 GMT - Derwent London's 2021 results largely met
expectations, but despite its relatively well-placed portfolio and
strategy it will likely face challenges due to a relatively flat
rental market for London offices and increasingly demanding
tenants, RBC Capital Markets says. The property investment and
development company is likely to benefit from weaker tenant demand
for lower-quality office space, creating opportunities for it to
acquire property at attractive prices, the Canadian bank says. "At
the same time, we expect a drag from older buildings
pre-redevelopment to be more noticeable in a flattish market," RBC
says. The bank retains its underperform rating and price target of
2,850 pence on the stock. Shares are down 1.6% at 3,074 pence.
(joseph.hoppe@wsj.com)
---
Safe-Haven Assets to Remain in Demand Until There Is Clarity
1011 GMT - Safe-haven assets such as German Bunds, the U.S.
dollar and gold are likely to remain in demand until there's more
clarity regarding the escalating situation in Ukraine, Donner &
Reuschel says. "The decisive factors now are how long the military
operation will last, how far Russian troops will advance into
Ukraine and what the reactions will be from the West and China,"
Carsten Mumm, chief economist of the bank, says. The situation is
still too unclear to take a new position, he says, adding that in
the past, armed conflicts have usually only resulted in short-term
setbacks on stock markets. (emese.bartha@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
February 24, 2022 11:58 ET (16:58 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Evraz (LSE:EVR)
Historical Stock Chart
From May 2024 to Jun 2024
Evraz (LSE:EVR)
Historical Stock Chart
From Jun 2023 to Jun 2024