FTSE 100 Opens Higher; Kingfisher Leads Gainers
0754 GMT - The FTSE 100 rises 0.9% to 9456.93 in early trade,
tracking gains in European stocks as they recover after U.S.
equities briefly dipped into bear market territory on Friday before
pushing higher. Retailer Kingfisher leads gainers, up 2.7%, after
it backed its full-year guidance and outlined a share-buyback
program, even as it announced a fall in sales during 1Q of fiscal
2023. Heavyweight mining stocks and oil companies are also among
the main risers. "Most stocks in the U.K. index are in the green
with Kingfisher leading the charge thanks to its surprise share
buyback announcement," Victoria Scholar, analyst at Interactive
Investor, says in a research note. (firstname.lastname@example.org)
AstraZeneca's Covid-19 Vaccine Gets EU Approval for Third
AstraZeneca PLC said Monday that its Covid-19 vaccine has been
granted approval in the European Union as a third dose booster for
Ted Baker Selects Preferred Party for Sale; Sycamore Partners No
Ted Baker PLC said Monday that the board has selected an
undisclosed preferred counterparty and that Sycamore Partners
Management L.P. is no longer participating in the sale process.
M&C Saatchi Shareholder AdvancedAdvT Says Next Fifteen Offer
Is Too Low
AdvancedAdvT Ltd. said Monday that the 310.1 million pound
($387.4 million) offer from Next Fifteen Communications Group PLC
for communications group M&C Saatchi PLC doesn't reflect the
value of foregoing control and the significant synergies available
to the potential buyer.
Kingfisher Backs FY 2023 Profit View; To Buy Back Shares
Kingfisher PLC said Monday that sales fell in the first quarter
of fiscal 2023 due to strong comparatives the prior year but were
above prepandemic levels, and backed its full-year guidance and
outlined a share-buyback program.
EnQuest Says on Track to Meet 2022 Targets; Backs Guidance
EnQuest PLC said Monday that it is on track to meet its 2022
targets, and backed its guidance for the year.
Kainos Group FY 2022 Pretax Profit Fell, Reduces Dividend
Kainos Group PLC said Monday that pretax profit for fiscal 2022
fell on higher costs while revenue rose by one third driven by
strong demand across all its divisions, and declared a reduced
Empiric Student Property CFSO Lynne Fennah to Step Down in
Empiric Student Property PLC said Monday that Chief Financial
& Sustainability Officer Lynne Fennah plans to step down to
pursue other interests.
Empiric Student Property Says Occupancy Above Levels in Year
Empiric Student Property PLC on Monday reiterated guidance for
the 2022-2023 academic year, as occupancy levels to date are above
those in the last year before the pandemic.
LondonMetric Property Buys Two UK Retail Assets for GBP23.3
LondonMetric Property PLC said Monday that it has acquired two
retail assets in the U.K. for 23.3 million pounds ($29.1
Centralnic Swung to 1Q Pretax Profit as Revenue Rose;
Performance in Line With Views
CentralNic Group PLC said Monday that it swung to a pretax
profit for the first quarter of 2022 as revenue increased, and that
the board was confident the company is performing in line with
Creo Medical Group 2021 Pretax Loss Widened on Higher Costs
Creo Medical Group PLC said Monday that 2021 pretax loss widened
after booking higher costs, and that the progress it has made over
the last year underpins the board's confidence in the company's
opportunities in 2022.
Pelatro Says 2021 Loss Narrowed, 2022 Performance in Line
Pelatro PLC on Monday reported a narrowed loss for 2021 and said
that it continues to trade in line with expectations.
Deepmatter Appoints Alan Aubrey as Nonexecutive Chairman
Deepmatter Group PLC said Monday that it has appointed Alan
Aubrey as nonexecutive chairman, effective May 27.
Ince to Report Fall in FY 2022 Revenue, Pretax Profit Due to 4Q
Shares in Ince Group PLC fell in early trading Monday after the
company said that it will report a decline in revenue and pretax
profit for fiscal 2022 due to a challenging fourth quarter, and
that the final results for fiscal 2022 will be below
MTI Wireless Edge Ltd. 1Q Pretax Profit Rose on Higher
MTI Wireless Edge Ltd. said Monday that pretax profit rose in
the first quarter as revenue increased.
Moonpig Shares Rise After Proposal to Buy Smartbox Group for
GBP124 Mln; Raised Expectations
Shares in Moonpig Group PLC traded up 12% on Monday after it
said that it was proposing to buy Smartbox Group UK Ltd. for 124
million pounds ($154.9 million) as part of the acceleration of its
growth strategy, and that it has increased its fiscal 2023 revenue
Precious Metals Rise as Investors Look to Safe Havens
0751 GMT - Prices for gold and platinum are rising in early
trading in New York, as investors continue to look to safe-haven
assets as worries around inflation continue mounting. Gold futures
are up 0.5% to $1,851.80, while platinum is up 2.3% to $962.50.
European Central Bank officials as well as the governor of the Bank
of England are due to speak Monday on inflation. "A heavy sell-off
in equity markets, amid deteriorating economic growth prospects,
should see haven seekers return to gold," ANZ Research's Soni
Kumari and Daniel Hynes say in a note. However, "weaker auto
catalyst demand due to supply chain disruptions and doubts around
the economic outlook have weighed on demand for platinum group
metals," they add. (email@example.com)
Base Metals Rise on Improved China Outlook
0735 GMT - Base metals prices rise in early trading, with
expectations of a bump in demand from China increasing after the
country started its package of economic stimulus. Three-month
copper futures in London are up 0.7% to $9,489 a metric ton while
aluminum is up 0.6% $2,986 a ton. China cut its five-year loan
prime rate to 4.45% toward the end of last week, ahead of more
fiscal stimulus measures which should see the metals market
tighten, according to ANZ Research. "China is loosening fiscal and
monetary policies with a CNY4 trillion infrastructure campaign,"
the bank's analysts say in a note. "However, labor shortages and
high energy costs will continue to weigh on growth in copper,
aluminum, and nickel supply." (firstname.lastname@example.org)
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
May 23, 2022 04:13 ET (08:13 GMT)
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