FTSE 100 Falls as Traders Brace for Fed Decision
0923 GMT - The FTSE 100 falls 0.7% to 7442 with house builders
leading the declines as investors brace for the Federal Reserve's
next meeting that could confirm it will soon start raising interest
rates. The Fed will announce its policy decision on Wednesday. "The
current consensus is for an initial [rate] hike in March, followed
by a further two or three rises which could take the rate to 1% by
year-end," Interactive Investor analyst Richard Hunter says. "While
the moves are increasingly necessary given relatively rampant
inflation, they also bring the likelihood of dampening earnings
prospects." (renae.dyer@wsj.com)
Companies News:
Activist Investor Nelson Peltz Buys Stake in Unilever
Trian Fund Management LP, the activist hedge fund run by Nelson
Peltz, has acquired a stake in Unilever PLC, according to people
familiar with the matter, adding pressure to the packaged food and
consumer goods giant in the wake of its failed $68-billion bid for
GlaxoSmithKline PLC's consumer-health business.
---
MyHealthChecked 2021 Performance Strong, 1H 2022 Prospects
Positive
MyHealthChecked PLC said Monday that its performance in 2021 was
successful amid the high demand of Covid-19 tests, and that it is
confident about its prospects for the first half of 2022.
---
TouchStar Sees More Than Doubled Pretax Profit for 2021
TouchStar PLC said Monday that it expects to report more than
doubled pretax profit for 2021, above market expectations.
---
Belluscura 2021 Demand for Portable Oxygen Concentrator Beats
Views
Belluscura PLC said Monday that demand for its portable oxygen
concentrator exceeded its views for 2021, and that it remained debt
free for the whole year.
---
Spirax-Sarco to Buy Cotopaxi for GBP13.3 Mln
Spirax-Sarco Engineering PLC said Monday it has agreed to buy
Cotopaxi Ltd. from China's Business Intelligence of Oriental
Nations Corp. for 13.3 million pounds ($18 million).
---
Empyrean Energy Starts Legal Proceedings Against Cyber
Fraudster
Empyrean Energy PLC said Monday that it has started legal
proceedings in Singapore against the company believed to have
committed a cyber fraud.
---
Mirriad Advertising Expects Lower 2021 Revenue
Mirriad Advertising PLC said Monday that it expects to report a
fall in revenue for 2021 and that year-on-year growth in the U.S.
has been strong.
---
Gulf Marine Services Expects 2022 Ebitda to Grow In Line With
Market Views
Gulf Marine Services PLC on Monday forecast that its earnings
will rise in 2022 in line with market expectations.
---
TomCo Energy Raises GBP1.3 Mln to Fund Drilling at Utah Site
TomCo Energy PLC said Monday that it has raised 1.3 million
pounds ($1.8 million) via share issue to fund three exploration
wells at the Tar Sands II site in Utah.
---
De La Rue Expects FY 2022 Operating Profit Below Market
Views
De La Rue PLC said Monday that it anticipates that adjusted
operating profit for fiscal 2022 will be below market expectations
because of the impact of the Omicron and Delta Covid-19 variants at
manufacturing facilities.
---
AdvancedAdvT's Latest Proposal to Buy M&C Saatchi
Rejected
AdvancedAdvT Ltd. said Monday that it has submitted an improved
takeover proposal to M&C Saatchi PLC which it says has been
rejected by the U.K. advertising company.
---
Computacenter Expects Rise in 2021 Adjusted Pretax Profit,
Revenue
Computacenter PLC said Monday that it expects 2021 adjusted
pretax profit and revenue to rise, and that the strength of its
performance in the fourth quarter was encouraging as it entered
2022.
---
Big Technologies Sees FY 2021 Adjusted Earnings Above Market
Views
Big Technologies PLC said Monday that it expects to deliver a
performance for the full year above market expectations, boosted by
new customer wins.
---
Amigo Holdings Warns of Insolvency if New Business Program Isn't
Approved
Amigo Holdings PLC said Monday that if its new business program
doesn't receive court approval Amigo Loans Ltd. will enter a
wind-down program or insolvency.
---
Vodafone, Iliad Are Discussing Combination of Italian Units,
Reuters Reports
--Vodafone Group PLC and Iliad are in talks to combine their
units in Italy in a deal that could create a business with revenue
of nearly 6 billion euros ($6.81 billion), Reuters reports, citing
sources familiar with the matter.
---
Spectra Contract Wins to Boost 2022 Revenue by at Least
$700,000
Spectra Systems Corp. said Monday that it has secured three
contracts worth at least $700,000 of additional unforecasted
revenue for 2022.
---
Corero Network Security Expects 2021 Swing to Maiden Pretax
Profit
Corero Network Security PLC said Monday that it expects to
report a swing to maiden pretax profit for 2021, and that revenue
is expected to be broadly in-line with market expectations.
---
LendInvest Says AuM Reached GBP2 Bln Milestone
LendInvest PLC said assets under management reached the two
billion pound ($2.71 billion) milestone as of Jan. 17.
---
Microlise Says 2021 Revenue Grew in Line With Views; Warns of
Supply Chain Issues
Microlise Group PLC said Monday that 2021 revenue and earnings
before interest, taxed, depreciation and amortization grew in line
with market expectations, but warned of supply chain issues lasting
longer than expected.
---
Block Energy Shares Rise on Strong Testing Prospects for JKT-01Z
Well
Shares in Block Energy PLC rose Monday after the company said
testing on well JKT-01Z in Georgia has commenced and delivered
strong results, noting that rapid monetization of the gas
production will be achieved.
---
GYG Restarts Contract at Nobiskrug Shipyard in Germany; Shares
Rise
GYG PLC shares rose Monday after the company said that it
resolved one refit contract with the new owners of the Nobiskrug
shipyard, in Germany, and that it is in discussions to restart two
others.
---
Shanta Gold Forecasts Production Growth in 2022 -- Commodity
Comment
Shanta Gold Ltd. on Monday forecast that its gold production
will grow this year. Here's what the East Africa-focused mining
company had to say at its year-end update:
---
Artemis Resources to Raise GBP5 Mln in London IPO
Artemis Resources Ltd. said Monday that it plans to raise 5
million pounds ($6.8 million) and float on London's junior AIM,
with trading expected to start on Feb. 7.
---
Gulf Keystone Says 2021 Oil Production Was at Upper End of
Views
Gulf Keystone Petroleum Ltd. said Monday that its 2021 oil
production was at the upper end of guidance, and expects it to grow
this year.
---
Petropavlovsk Appoints Stanislav Ploshchenko as New CFO
Petropavlovsk PLC said Monday that it has appointed Stanislav
Ploshchenko as its new chief financial officer, with immediate
effect.
---
Etalon 4Q New Sales, Cash Collection Fell
Etalon Group PLC said Monday that new sales fell in the fourth
quarter of 2021, with cash collection also decreasing.
---
Fulcrum Utility Chief Steps Down, Antony Collins Appointed as
Interim CEO
Fulcrum Utility Services Ltd. said on Monday that Chief
Executive Officer Terry Dugdale will step down from the role with
immediate effect, and that Antony Collins has agreed to join the
group as interim CEO "whilst a permanent successor is sought."
Market Talk:
Diageo Portfolio Looks Healthy, Costs Savings to Drive Further
Growth
0924 GMT - Diageo's portfolio is healthy and costs savings will
help to drive further value, Jefferies says. The share momentum of
the liquor maker--which owns Johnnie Walker whisky and Tanqueray
gin--is a result of higher marketing investments and improved
execution, but also backed by the ambition to boost the share of
total beverage alcohol in 2020-2030 to 6% from 4%, Jefferies says.
"The share of throat opportunity provides a tailwind on top of
traditional category drivers such as demographics, middle-class
growth, and 'premiumisation'," the bank says. Jefferies has a buy
rating on the stock and a target price of 4,800 pence. Shares are
down 0.8% at 3,724.0 pence. (michael.susin@wsj.com)
---
Novopet Doubles Polymetal's Exposure to Copper
0920 GMT - The announcement of an initial mineral resource for
the Novopetrovsky project marks an achievement for Polymetal's
greenfield exploration strategy carried out through joint ventures
with junior partners, RBC Capital Markets says. The estimates
released Monday suggest that Novopet has 2.4 million ounces of
gold-equivalent resources. Adding the site to the portfolio
increases Polymetal's total gold-equivalent resources by 8.3% to
around 24 million ounces, RBC estimates. And most importantly, it
more than doubles the company's exposure to copper, in line with
its strategic goals, the bank notes. The mining company's current
valuation is attractive, but RBC warns that the political situation
in Russia and Kazakhstan could continue putting pressure on shares.
(jaime.llinares@wsj.com)
---
Activist Stake in Unilever Should Increase Debate Over Asset
Disposals
0916 GMT - An activist hedge fund's reported acquisition of a
stake in Unilever should have a positive share-price reaction and
increase debate over asset disposals at the company, Jefferies
says. Media reports said activist investor Nelson Peltz's Trian
hedge fund has taken an undisclosed stake in Unilever, adding
pressure on its CEO after his company failed in its bid to buy
GlaxoSmithKline's consumer-health business. The bank says Trian's
thesis is to unlock value by disposals at Unilever's slow-growing
foods businesses, or by a split between the foods and the Home
& Personal Care businesses, via a sale or spinoff.
"Particularly as Unilever's recent further derating ... has widened
the potential gap between a holistic and sum-of-the-parts
valuation," the bank says. Shares are 5.2% higher at 3,865.0 pence.
(michael.susin@wsj.com)
---
TIM Would Get Only Minor Boost From Vodafone-Iliad Tie-Up in
Italy
0842 GMT - A tie-up in Italy between Vodafone and Iliad could
ease competition in the country but the impact on Telecom Italia
would probably be fairly limited, Thomas Coudry at Bryan Garnier
says. Press reports suggest the two telecommunications companies
are in talks over merging their Italian operations, but given that
retail mobile markets are a minor part of TIM's business, the
upside to earnings would be low, Coudry says. The transaction could
also face antitrust obstacles, he says. Nevertheless, a prospective
deal between two competitors should entail a higher bid for TIM
from private-equity firm KKR, Coudry adds. Vodafone and Iliad
didn't immediately respond to a request for confirmation of the
reports.
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
January 24, 2022 04:42 ET (09:42 GMT)
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