FTSE 100 Edges Lower After Downbeat Asia Trading
The FTSE 100 edges 0.1%, or eight points lower to 7556 as
miners' stocks fall, though rising crude prices boost oil shares.
Anglo American, Rio Tinto and Antofagasta drop after downbeat
trading in Asia, with shares in mainland China closing flat and
markets in Hong Kong and Japan retreating. Still, BP and Royal
Dutch Shell are higher as the price of a barrel of Brent crude
gains 0.9% to $85.27. Chinese exports beat expectations for a fifth
successive month with a broad-based gain, though imports fell short
of expectations again, weighed by iron ore, reflecting subdued
domestic demand, Daiwa Capital Markets says.
Cineworld Generates Positive 4Q Cash Flow on Improved
Cineworld Group PLC said Friday that it generated a positive
cash flow in the fourth quarter of 2021, on the back of an
improvement in revenue and cost measures.
Team17 Raises GBP78.6 Mln via Share Placing to Fund
Entertainment GmbH Buy
Team17 Group PLC said Friday that it has now raised 78.6 million
pounds ($107.7 million) via the share placing first announced late
Quiz December Revenue Rose
Quiz PLC said Friday that revenue from its channels rose during
December when compared with the same period a year ago, marked by
significant growth in U.K. stores and concessions.
Smartspace Software Expects FY 2022 Results in Line With Market
Smartspace Software PLC said Friday it anticipates its fiscal
2022 results being in line with market expectations.
Bonhill Sees 2021 Revenue, Ebitda to Slightly Miss
Bonhill Group PLC said Friday that it expects revenue and
earnings before interest, taxes, depreciation, and amortization for
2021 to slightly miss market expectations after Omicron coronavirus
variant disruption, but 2022 has begun well.
Cornerstone FS Sees 2021 Revenue Increase Boosted by New Asia
Cornerstone FS PLC said Friday that it expects to report
increased revenue for 2021, boosted by its new Asia team.
Good Energy Urges Shareholders to Vote Down Resolutions Called
Good Energy Group PLC said Friday that it urges shareholders to
vote against resolutions removing Chairman William Whitehorn, and
to direct the board not to dispose of the company's generation
approval in a meeting in February.
Currys Lowers FY Guidance, Says Christmas Performance Was
Currys PLC said Friday that its performance during its peak
Christmas period was hurt by lower demand, and that it has
downgraded its guidance on its adjusted pretax profit for the
Cornerstone FS Concludes Convertible Loan Note Negotiation
Cornerstone FS PLC said Friday that it has concluded
negotiations to amend the terms of its convertible loan note.
Secure Trust Bank New-Business Lending Reached Record in 4Q
Secure Trust Bank PLC said Friday that total new-business
lending rose significantly in the fourth quarter, reaching a record
for the lender.
Foxtons Sells Douglas & Gordon Sales Business, Integrates
Foxtons Group PLC said Friday that it has sold its Douglas &
Gordon Ltd. sales business for a nominal consideration to D&G's
Chief Executive James Evans, and integrated its lettings business
into its network.
Bellway Names Former Redrow Chief John Tutte as Incoming
Bellway PLC said Friday that former Redrow PLC Chief Executive
and Executive Chairman John Tutte will join the company as its
designated nonexecutive chairman on March 1.
Global Petroleum Shares Rise on Favorable European Court
Global Petroleum Ltd. shares rose on Friday after it said the
European Court found that its four permit applications offshore
Italy didn't contravene European Union law.
Sensyne Health Shares Fall on Financing Agreement to Continue
Shares in Sensyne Health PLC fell on Friday after it said that
it has signed a financing agreement for 6.4 million pounds ($8.8
million) with institutional shareholders as without financing it is
unlikely to continue trading beyond early February.
Castillo Copper Drops Plans to Buy Additional Lithium Assets
Castillo Copper Ltd. said Friday that its board has decided to
focus on developing the BHA's Project East Zone and drop plans to
acquire the Litchfield and Picasso lithium assets in Australia.
Minds + Machines to Return GBP19 Mln to Holders via Tender
Offer; Shares Rise
Shares of Minds + Machines Group Ltd. rose as much as 19% on
Friday after the company said it plans to return up to 19 million
pounds ($26 million) to shareholders via a tender offer.
Omicron Hit to UK Economy Set to Be Modest
0906 GMT - The impact of the Omicron coronavirus variant to the
U.K.'s economy is expected to be modest, relative to past waves,
ING's developed market economist James Smith says. Cases have
peaked, suggesting that Omicron's effect has been sharp but
short-lived and staff shortages could ease soon Smith says, adding
that consumer attitudes toward Covid-19 likely haven't changed
much. "The hit to GDP across December and January may not amount to
much more than half a percent, not least because the recent booster
vaccine and testing expansions may help boost health spending yet
further, offsetting weakness elsewhere," he says. In this context,
a Bank of England rate increase in February is growing more likely,
UK Economy at Pre-Pandemic Size in November, But Omicron Will
0847 GMT - The 0.9% on-month expansion for the U.K. economy in
November brought it back to its pre-pandemic size for the first
time, but GDP is set for a temporary setback due to Omicron,
Capital Economics' chief U.K. economist Paul Dales says. The
performance of the economy was impressive in November, but
tightened restrictions, staff absences due to illness or isolation,
and heightened consumer caution are likely to have hit activity he
says. "The recent signs that the Omicron wave is starting to
subside suggests that GDP will probably rebound in February and
March," Dales says. From April 1, a sharp rise in taxes and utility
prices is expected to drag on the recovery for the rest of this
year, he says.
Currys Seen as Best Performer of Peers in Peak Christmas Season
0823 GMT - Currys has outperformed its competitors, largely
mitigating the effects of a down-10% U.K. market during the
peak-performance season of Christmas, Citi says. The U.K.
technology retailer's performance underscores its ability toward
attaining its mid-term goals of 4% adjusted Ebit margins and a free
cash flow of GBP250 million regardless of market volatility or
cyclicality, the bank says. "Market volatility or cyclicality
notwithstanding, Currys continues to make good progress on those
elements within its control, leveraging its omnichannel presence
and scale to outperform by driving its online growth, credit
penetration and customer satisfaction," Citi says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
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(END) Dow Jones Newswires
January 14, 2022 04:49 ET (09:49 GMT)
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