FTSE 100 Falls Ahead of BOE Policy Decision
The FTSE 100 falls 0.1% to 7119 points as investors eye the Bank
of England's policy decision at 1100 GMT Thursday. Mining shares
are among the worst performers with Anglo American, Rio Tinto and
BHP Group falling 1.7%, 1.4% and 1.0% respectively. WPP is the top
riser, up 3.1%, after the advertising giant swung to a pre-tax
profit for the first half and raised its full-year guidance.
Rolls-Royce shares gain 1.1% after the engine maker said it
returned to a pre-tax profit in the first-half. Evraz climbs 0.9%
after the steelmaker reported its first-half net profit more than
doubled.
Companies News:
WPP PLC Swung to 1H Pretax Profit; Raises 2021 Guidance
WPP PLC on Thursday reported a swing to pretax profit for the
first half of the year and raised its full-year guidance.
---
Mondi 1H Performance Stable; Declares Dividend
Mondi PLC reported Thursday a stable set of results for the
first half with a small decline in pretax profit and it declared a
dividend.
---
Rolls-Royce Swung to 1H Pretax Profit
Rolls-Royce Holdings PLC said Thursday that it swung to a pretax
profit for the first half of 2021 after booking lower costs, and
that it expects to turn free cashflow positive during the second
half.
---
Evraz 1H Profit Doubled Amid Stronger Steel Prices
Evraz PLC on Thursday reported that its net profit more than
doubled in the first half of the year, reflecting higher prices for
steel, vanadium and coal.
---
Frasers FY 2021 Pretax Profit Fell; In Talks to Appoint Michael
Murray CEO
Frasers Group PLC on Thursday reported a significant decline in
pretax profit for fiscal 2021, and said it is in talks to move
Michael Murray into the chief-executive role in fiscal 2022.
---
Hammerson 1H Pretax Loss Narrowed
Hammerson PLC reported on Thursday a significantly narrowed
pretax loss for the first half of 2021, and said like-for-like net
rental income rose slightly.
---
Serco 1H Pretax Profit, Revenue Rise; To Pay First Interim
Dividend Since 2014
Serco Group PLC said Thursday that pretax profit and revenue
rose for the first half of 2021 and that it was declaring the first
interim dividend since 2014.
---
Savills 1H Pretax Profit, Revenue Rise
Savills PLC said on Thursday that pretax profit rose for the
first half as revenue rose, and that it was declaring an interim
dividend for the period.
---
ScS Group Sees FY 2021, FY 2022 Performance Beating Market
Expectations
ScS Group PLC said Thursday that its performance for fiscal 2021
and fiscal 2022 is expected to be above market expectations given
its strong order book and positive recent trading.
---
Secure Trust Bank 1H Pretax Profit Rose; Resumes Dividend
Secure Trust Bank PLC reported on Thursday a significant rise in
pretax profit for the first half of 2021 and resumed dividends.
---
Spirent Communications 1H Pretax Profit Fell
Spirent Communications PLC said on Thursday that first-half
pretax profit fell after it booked higher costs, and that it is
putting together an opportunity pipeline to support its mergers and
acquisitions strategy.
---
Camellia Exits Aerospace Market With Unit Sale
Camellia PLC said Thursday that it is exiting the aerospace
market with the sale of its interests in Abbey Metal Finishing Co.
and its subsidiary Atfin GmbH in Germany, citing the downturn in
the market and recent losses.
---
Centamin 1H Profit Fell on Weaker Production, Higher Costs
Centamin PLC said Thursday that its net profit for the first
half of the year fell 20%, reflecting weaker gold production and
higher unitary costs.
---
Mkango Resources to Buy Remaining Stakes in Songwe Hill,
Maginito; Shares Rise
Shares in Mkango Resources Ltd. rose Thursday after the company
said it is increasing its ownership over the Songwe Hill rare
earths project in Malawi and Maginito Ltd. to 100% for 13 million
pounds ($18.1 million) in shares.
Market Talk:
Frasers FY 2021 Earnings Strong Despite Revenue Decline
0730 GMT - Frasers's results for fiscal 2021 were solid against
a tough backdrop despite reporting an 8.4% fall in revenue, Liberum
says. The U.K. sport-fashion retailer's strategy and ambition to
reach GBP2 billion in sales by fiscal 2026 highlights the company's
confidence in its performance, the brokerage says. Liberum
continues to forecast a double-digit adjusted pretax profit
compound annual growth rate, and says it sees valuation support
from the balance-sheet strength and cash generation.
---
Rolls-Royce Can Expect Consensus Upgrades After Strong 1H Ebita
Performance
0729 GMT - Rolls-Royce's structuring and disposal programs are
going well, and its 1H free cashflow and Ebita were both ahead of
consensus, Jefferies says. Importantly, management's free cashflow
guidance for 2021--it expects to improve the free cash outflow to
around GBP2.0 billion from GBP4.2 billion in 2020--was unchanged,
the U.S. bank says. Furthermore, given the engineering company's
strong 1H Ebita performance, upgrades to consensus are expected,
Jefferies says. "The group's outlook continues to improve and
management continue to invest for the long term, and although
international recovery is proving to be slower than was hoped for,
this is already assumed in free cashflow consensus for 2022
forecasts," it says. Jefferies rates the stock as a buy with a
130-pence target price.
---
Sterling Rises as Traders Eye BOE Decision
0707 GMT - Sterling rises as traders await the Bank of England's
policy decision at 1100 GMT Thursday. RBC Capital Markets currency
strategist Adam Cole notes that BOE policymaker Michael Saunders
and the central bank's Deputy Governor Dave Ramsden recently
discussed paring back bond purchases, although it is unlikely a
majority will vote for this yet. "A substantial part of the
government's fiscal support is being withdrawn at the end of
September and we think risk management considerations mean that
there is still a majority in favor of continuing with quantitative
easing as planned." The BOE is likely to vote 6-2 to maintain QE,
with Saunders and Ramsden the only outliers, which could be
disappointing for some sterling investors, Cole says. GBP/USD rises
0.1% to 1.3897 and EUR/GBP falls 0.1% to 0.8517.
Contact: London NewsPlus, Dow Jones Newswires;
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(END) Dow Jones Newswires
August 05, 2021 04:06 ET (08:06 GMT)
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