FTSE 100 Rises in Early Trade; Oil Stocks, Intertek Gain
The FTSE 100 rose in early trade, helped higher by a rise in oil
stocks as the price of a barrel of Brent crude rises 0.5% to
$81.76. Markets see weakness in the moves by the U.S., China, the
U.K., and Japan to sell off parts of their strategic oil reserves
in a bid to realign the supply-demand picture, IG says. BP is up
2.1% and Royal Dutch Shell B shares rise 1.7%. Intertek is the
biggest riser, up 5.7% after the inspection and product-testing
company said it was on track to deliver its full-year targets.
Retailer Kingfisher rises 0.9% after announcing the start of a
second tranche of a buyback program. United Utilities rises 0.4% as
its 1H pretax profit rose and it forecast full-year revenue to rise
2%. Johnson Matthey falls 0.6% after the chemicals and
sustainable-technologies company said it swung to a 1H pretax
loss.
Companies News:
Johnson Matthey Swung to 1H Pretax Loss
Johnson Matthey PLC on Wednesday reported a swing to pretax loss
for the first half of fiscal 2022 as the company decided to exit
one of its businesses.
---
Marie James Capital Raises GBP15.1M via Secondary Placing of Kin
& Carta Shares
Marie James Capital LLC has raised 15.1 million pounds ($20.2
million) after selling five million shares in Kin & Carta PLC
via a secondary placing, Numis Securities Ltd. said Wednesday.
---
Britvic FY 2021 Pretax Profit Rose; Increases Dividend
Britvic PLC said Wednesday that pretax profit increased for
fiscal 2021 and that it has raised its dividend.
---
Anglo American: De Beers Rough-Diamond Sales Fell Due to India
Factory Closures
Anglo American PLC said Wednesday that rough-diamond sales by
its majority-owned De Beers Group in 2021's ninth sales cycle fell
13% from the previous cycle, in line with the board's expectations
given factory closures in India due to the Diwali festival.
---
De La Rue 1H Pretax Profit Rose on Lower Costs
De La Rue PLC on Wednesday reported a rise in pretax profit for
the first half of fiscal 2021 as the company benefited from cost
reductions set in its turnaround plan.
---
AB Dynamics FY 2021 Profit Fell
AB Dynamics PLC on Wednesday reported a profit fall for the year
ended Aug. 31, and said that supply-chain disruption is expected to
continue in the current period.
---
Brewin Dolphin FY 2021 Pretax Profit, Total Funds Rose
Brewin Dolphin Holdings PLC said Wednesday that pretax profit
and total funds rose in fiscal 2021, and that it is confident about
its outlook.
---
Lukoil 3Q Profit Rose on Quarter
Lukoil PJSC on Wednesday reported an improved profit for the
third quarter, reflecting higher production, prices and retail
sales.
---
Wynnstay Group Sees FY Underlying Pretax Profit Ahead of
Forecasts
Wynnstay Group PLC said Wednesday that it now expects underlying
pretax profit for fiscal 2021 to be significantly ahead of current
market forecasts.
---
CVS Group Four-Month Sales Rose on Continued Strong Demand
CVS Group PLC said Wednesday that sales for the four months
ended Oct. 31 are up 14% from the same period a year earlier,
driven by continued strong demand.
---
Ten Lifestyle FY 2021 Pretax Loss Narrowed; Sees Increased
Activity in FY 2022
Ten Lifestyle Group PLC on Wednesday reported a narrowed pretax
loss for fiscal 2021 as moves to reduce costs help to offset
decreasing revenue, and said that demand has increased during the
first months of fiscal 2022.
---
Breedon Group Sees 2021 Performance Stronger Than Expected
Breedon Group PLC said Wednesday it expects to report a
better-than-expected underlying Ebit for the year--at the top end
of the market range--boosted by continued growing demand.
---
Horizonte Minerals Raises $197 Mln via Discounted Share Placing;
Shares Fall
Shares in Horizonte Minerals PLC fell on Wednesday after the
company said that its share placing has been conducted at a
discounted price.
---
Marlowe Sees FY 2022 Performance Ahead of Market Views
Marlowe PLC said Wednesday that it expects to report results
ahead of current market expectations for the year ending March 31,
reflecting strong organic growth and successful strategy
execution.
---
Genus Expects Lower FY 2022 Pretax Profit on China Woes
Genus PLC said Wednesday that it anticipates pretax profit for
fiscal 2022 to be moderately lower than previously expected due to
falling pig prices in China.
---
IQE Shares Fall on Anticipated 2021 Revenue Decline on Lower
Demand
Shares in IQE PLC on Wednesday fell after the company said it
expects to post a decline in revenue for 2021 as a result of
softening demand in the fourth quarter.
---
First Property Group 1H Profit Increased on Lower Costs
First Property Group PLC said on Wednesday that its pretax
profit for the first half of fiscal 2022 increased as the group
booked less costs.
---
Altitude Group Shares Rise After Chmn Appointment, Performance
in Line With Mgmt Views
Shares in Altitude Group PLC rose in early trade Wednesday after
the company said that it has appointed a new chairman and that it
is performing positively, in line with management expectations.
---
Scholium Swung to 1H Pretax Profit as Sales Increased
Scholium Group PLC on Wednesday reported a swing to a pretax
profit for the first half of fiscal 2022 as sales recovered once
coronavirus restrictions were eased.
---
Alpha Financial Markets 1H Pretax Profit Fell Slightly, Revenue
Rose
Alpha Financial Markets Consulting PLC reported on Wednesday a
slight decline in pretax profit despite a rise in revenue for the
first half of fiscal 2022 and said it has a growing pipeline of
potential new business going into the second half.
---
Arena Events Group Swung to 1H Pretax Profit; Revenue Nearly
Doubled
Arena Events Group PLC on Wednesday reported a swing to pretax
profit for the first half of fiscal 2022 on higher revenue as
events returned following Covid-19-related issues, including the
Tokyo Olympics and Ryder Cup.
---
Brickability Buys Renewable Energy Products Company for up to
GBP5.5 Mln
Brickability Group PLC said Wednesday that it has acquired
renewable energy products company HBS NE Ltd. for up to 5.5 million
pounds ($7.4 million) as part of the company's plan to broaden its
offering to customers.
Market Talk:
Johnson Matthey 1H Results Were Slightly Better Than
Expected
0854 GMT - Shares in Johnson Matthey fall 0.5% after its
first-half results. The chemicals and technology company reported
Ebit of GBP293 million, which was 2% above consensus expectations,
Jefferies says. In addition, full-year guidance is unchanged, its
Advanced Glass Technologies business is to be sold for GBP178
million and the company will launch a GBP200 million share buyback,
Jefferies notes. The bank expected a muted share-price response to
the company's announcements.
---
United Utilities 1H Results Didn't Surprise
0818 GMT - United Utilities results for the first half of the
year were no surprise, which is as it should be for a regulated
utility, Jenny Ping from Citi says. Performance for the six months
ended Sept. 30 was in line with expectations, with underlying EBIT
at GBP333 million compared with the GBP327 million market
consensus. The dividend and net debt were also in line, Ping says.
"We do not expect today's results and outlook to be meaningful for
the shares. We continue to rate United Utilities as neutral," she
says. Shares in the U.K. water company rise 0.3%.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
November 24, 2021 04:47 ET (09:47 GMT)
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