Sterling Set For Quieter Week After Gains on Rate Rise Bets
Sterling looks set for a quieter week of trading even as the
U.K.'s Treasury chief Rishi Sunak releases his fiscal spending plan
on Wednesday. "After all the excitement of the re-pricing of the
Bank of England cycle last week, expect GBP and rate markets to
take a breather this week," ING analysts say. That has left GBP/USD
trading in a 1.3730-1.3830 range, which should hold over coming
days, they say. Sunak is unlikely to make any major announcement on
fiscal consolidation strong enough to prompt the market to rein in
its interest rate rise expectations, they say. GBP/USD rises 0.3%
to 1.3788 and EUR/GBP falls 0.1% to 0.8456.
ContourGlobal Sees Fall in Net Profit; Backs 2021 Adjusted
ContourGlobal PLC said Monday that it expects net profit for the
first nine months of the year to fall, but backed adjusted earnings
guidance for the full-year 2021.
Lenta 3Q Pretax Profit Rose on Higher Sales
Lenta International PJSC on Monday reported a higher pretax
profit for the third quarter of 2021 as sales increased.
Panthera Resources Says Labola Gold Project Estimate
Panthera Resources PLC said Monday that it has completed the
maiden mineral resource estimate for the Labola Gold Project,
located in Burkina Faso, which showed positive results.
Urban Logistics Recent Performance Was Good; Will Join Premium
Urban Logistics REIT PLC said Monday that its recent performance
has been positive with nearly all rent collected for the first
half, and that it intends to move to the premium segment of the
Ashtead Technology to Float on London's AIM Next Month
Ashtead Technology Ltd. said Monday that it plans to float on
London's junior AIM with trading expected to start in the second
half of November.
President Energy's Subsidiary Atome Is Progressing Toward London
President Energy PLC said Monday that its hydrogen and
ammonia-production subsidiary Atome Energy PLC is taking steps to
float on London's Alternative Investment Market later this year,
raising an undisclosed amount.
Anglo Pacific 3Q Portfolio Contribution Hits Record High
Anglo Pacific Group PLC said Monday that its portfolio
contribution for the third quarter of 2021 was the highest in its
Atrato Onsite Energy to List on LSE
Atrato Onsite Energy PLC said Monday that it plans to float on
the London Stock Exchange's main market next month, and that it
expects to raise around 150 million pounds ($206.4 million) via a
placing, and offer for subscription, and an intermediaries
Gensource Confirms Plans for London Listing in November
Gensource Potash Corp. confirmed Monday that it will float in
London in early November, as a U.K.-listing with allow it to better
access U.K. and European institutional investors.
Ridgecrest Terminates Blue Air Negotiations on Airline's
Inability to Raise Funds
Ridgecrest PLC said Monday that it has terminated the
negotiations on its proposed reverse take over of Romanian airline
Blue Air after the carrier failed to raise funding.
Just Eat Shareholder Urges Sale or Spin-Off of Grubhub
Just Eat Takeaway.com NV investor Cat Rock Capital Management LP
said Monday that it has urged the company to sell or spin-off
Grubhub by the end of the year.
Vast Resources Shares Fall on Delay to Planned Production
Volumes at Romania Mine
Vast Resources PLC said Monday that the start of its planned
higher production volumes at Romania's Baita Plai Polymetallic mine
have had to be pushed back and it now expects it to become
profitable on a monthly basis by the end of 2021.
HSBC Outlook Improves, But Low Interest Rates Drag
0959 GMT - Shares in HSBC Holdings rise 1.1% after the bank said
it would buy back up to $2 billion in stock after third-quarter net
profit rose. HSBC is the latest bank to hint at an expected
increase in interest rates, which helps improve the investor mood
because higher interest rates improve the profitability of loans,
Hargreaves Lansdown says. "All in, the picture is looking healthier
for HSBC, but while interest rates remain on the floor, the group
will continue to be held back," HL analyst Sophie Lund-Yates
Petropavlovsk 3Q Production Was in Line, With Higher Reliance on
0949 GMT - Petropavlovsk delivered third quarter gold production
of 111,600 ounces, which was slightly ahead of Peel Hunt's estimate
of 110,500 ounces. The Russian gold miner's quarterly production
mix was more favorable towards the company's own, lower-cost
operations, rather than relying on third party concentrates, the
brokerage notes. "The higher output from own operations should
translate into lower than expected overall unit costs, lifting
group profitability given that buying in gold concentrates for the
POX hub is more expensive than running its own mines," Peel Hunt
says. The brokerage has an add recommendation on the stock with a
28 pence target price.
ContourGlobal Confirms Dividend Growth, 2021 Outlook
0907 GMT - ContourGlobal's trading update confirmed the
quarterly dividend and its outlook for the full year, City analyst
Jenny Ping says. The business appears to be on track, with
nine-month Ebitda of $622 million, a 10% dividend increase and
unchanged 2021 Ebitda guidance of $780 million-$810 million, she
says. In addition, Ping says that the financing of ContourGlobal's
Caribbean assets and the refinancing of the Brazilian wind and
hydropower plants should support free cash flow generation. Shares
in the FTSE 250 power generation company are down 0.3% at 195.8
pence. Citi has a neutral rating on the stock.
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(END) Dow Jones Newswires
October 25, 2021 06:31 ET (10:31 GMT)
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