FTSE 100 Rebounds as Travel, Oil Stocks Gain
01 December 2021 - 8:55PM
Dow Jones News
FTSE 100 Rises in Early Trade as Travel, Oil Stocks Rebound
0924 GMT - The FTSE 100 rises by 1.3% to 7152.73 in early trade,
rebounding after the previous day's losses and after U.S. Federal
Reserve Chair Jerome Powell said the notion of transitory inflation
should be retired. Powell appeared to dismiss concerns about the
new omicron Covid-19 variant, although for investors these worries
will likely linger. "Some traders appear to have decided the
weakness has gone far enough for now as they emerged to bid up
stocks and oil," says AJ Bell investment director Russ Mould.
Travel stocks rebound, with British Airways owner International
Consolidated Airlines up 4.7%, while oil stocks and miners also
rise as oil prices increase. Defensive utility stocks fall, with
Severn Trent losing 2.4% and United Utilities down 1.7%.
(jessica.fleetham@wsj.com)
Companies News:
STV Group Sees 2021 Advertising Revenue Rise on Stronger 4Q
STV Group PLC said Wednesday that it expects total advertising
revenue for 2021 to be at a record level, with a
stronger-than-expected fourth quarter.
---
Online Blockchain Swung to FY 2021 Pretax Profit
Online Blockchain PLC on Wednesday reported a profit for the
year ended June 30.
---
Drax Sees 2021 Adjusted Ebitda at Top End of Expectations
Drax Group PLC on Wednesday forecast that its 2021 adjusted
earnings before interest, taxes, depreciation and amortization will
be around the top end of current analysts' expectations.
---
Brickability 1H Profit, Revenue Rose; Names New COO
Brickability Group PLC said Wednesday that pretax profit more
than doubled and revenue nearly tripled for the first half of
fiscal 2022, and named Paul Hamilton as its new chief operating
officer.
---
Blue Prism Agrees to Improved GBP1.23 Bln Offer from SS&C;
Withdraws Vista Recommendation
Blue Prism Group PLC said Wednesday that it has agreed a new,
higher 1.23 billion-pound ($1.64 billion) takeover by SS&C
Technologies Holdings, Inc. and withdrawn its recommendation for
Vista Equity Partners' offer.
---
S4 Capital Acquires Maverick Digital
S4 Capital PLC said Wednesday that U.S. Salesforce specialist
Maverick Digital is merging with the company's Media.Monks
subsidiary.
---
Loungers 1H Pretax Profit, Revenue Rose
Loungers PLC said Wednesday that first-half pretax profit rose
on higher revenue, and that while it is mindful of the Omicron
coronavirus variant it is optimistic about the Christmas period and
beyond.
---
Springfield Properties Buys Tulloch Homes; Proposes Placing to
Help Fund
Springfield Properties PLC said Wednesday it has conditionally
acquired private house builder Tulloch Homes for 56.4 million
pounds ($75.0 million), and proposed a placing to help refinance
part of the cash consideration.
---
Amedeo Air Four Plus to Return GBP30 Mln to Shareholders;
Reinstate Dividends in 2022
Amedeo Air Four Plus Ltd. said Wednesday that it will return 30
million pounds ($39.9 million) to shareholders via a partial
compulsory redemption of ordinary shares on Dec. 8, and that the
board intends to reinstate dividends in 2022.
---
Drax Aims to Double Biomass Pellet Production, Sales by 2030
Drax Group PLC on Wednesday set targets to double both its
biomass pellet production and sales by 2030.
---
IG Group Proposes Sale of Small Exchange Stake and Nadex for
$216 Mln
IG Group Holdings PLC said Wednesday that it has proposed the
sale of North American Derivatives Exchange, Inc. or Nadex, and its
stake in Small Exchange, Inc. for around $216 million.
---
Beowulf Mining Shares Rise on Positive Comments From Swedish
Government
Beowulf Mining PLC said Wednesday that it has noted its share
price rise in Stockholm and London after recent positive comments
from the new Swedish government.
---
Marechale Capital Swung to 1H Profit on Investment Gains
Marechale Capital PLC said Wednesday that it swung to a
first-half pretax profit primarily on the back of investment gains,
and that revenue significantly rose.
Market Talk:
UK January 2032 Auction Should Go Well
0854 GMT - The U.K. Debt Management Office's planned sale of
GBP2.25 billion in the January 2032 gilt is likely to price four to
five basis points above the 2031 gilt, says RBC Capital Markets.
The bank estimates fair value at two basis points over the 2031
gilt but says a new-issue discount of two to three basis points is
warranted to incentivize buyers to account for less liquidity and
re-tapping risks. The 2032 gilt already trades at 5.7 bps above the
2031 gilt, which "looks quite attractive at these levels" and RBC
analysts do not believe there should be any problems with takedown
of today's auction. (lorena.ruibal@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
December 01, 2021 04:40 ET (09:40 GMT)
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