The FTSE 100 closed up 0.5% on Friday as the Volatility Index and oil prices fell. "The week is rounding out with further upside for equities, as the general positive feeling in the wake of this week's inflation data continues. We are now firmly into the quiet period of August, and while there is plenty of U.K. economic data next week major earnings are thin on the ground," Chris Beauchamp, chief market analyst at online trading platform IG, says. Flutter Entertainment was the biggest riser, ending up 14% after reporting its results for the first half, followed by Mondi, which ended 11% higher after saying it is selling its Russian facility for about $1.57 billion in cash.

Companies News: 

Haleon Says It Hasn't Been Notified About Litigation on Zantac Drug

Haleon PLC said Friday that it hasn't been notified about potential negative implications of U.S. lawsuits over discontinued heartburn drug Zantac.


888 Holdings 1H Pretax Profit Fell Materially

888 Holdings PLC reported on Friday a significant decline in pretax profit for the first half of 2022 on lower contribution, increased legal and professional costs linked to the acquisition of William Hill, and expenses related to the disposal of the Bingo business.


TBC Bank's 2Q Pretax Profit Fell on Higher Costs; Outlook Unchanged

TBC Bank Group PLC reported Friday a decline in pretax profit for the second quarter of 2022 on the back of higher operating expenses, and reiterated its medium-term targets for the whole year.


Stelrad Group 1H Pretax Profit Fell on Turkish Subsidiary Costs; Declares Dividend

Stelrad Group PLC said Friday that pretax profit for the first half fell amid higher costs caused by its Turkish subsidiary new reporting standards, but revenue rose driven by increased margins.


Global Invacom Group 1H Pretax Loss Widened; Starts Business Review

Global Invacom Group Ltd. said Friday that pretax loss for the first half of 2022 widened and revenue fell amid a shortage of semiconductors, and that it is reviewing its business given continuing challenges.

Market Talk: 

UK's Record Current Account Deficits Negative for Pound

0902 GMT - The U.K.'s trade data for June underlined that the nation is running record current account deficits, which has proved a persistent negative factor for sterling, MUFG Bank says. "The performance of the pound is currently very sensitive to broader risk appetite and during times of risk aversion, large current account deficits fuel GBP weakness," MUFG analyst Derek Halpenny says in a note. The U.K.'s total trade in goods deficit widened by GBP2.1 billion to GBP22.1 billion in June, Office for National Statistics data showed Friday. GBP/USD falls 0.2% to 1.2176, but EUR/GBP is flat at 0.8459. (


Flutter's 1H Performance Slightly Exceeds Forecasts

0827 GMT - Flutter has issued a very encouraging set of results for the first half, with performance coming in slightly better than forecast, a reiteration of full-year estimates and a positive contribution from the U.S. in the second quarter, Shore Capital says. The gambling group's second half has started in line and Shore's estimates will require a modest improvement for the period, Shore analyst Greg Johnson says in a research note. "Our preference has been for [peer] Entain over Flutter on both valuation and growth profile, though the relative first-half performances and current valuations suggest the difference is now modest," the U.K. investment group says. Shore retains its hold rating on the stock. Shares are up 9.8% at 10,300 pence. (


Contact: London NewsPlus;


(END) Dow Jones Newswires

August 12, 2022 12:45 ET (16:45 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Sep 2022 to Oct 2022 Click Here for more FTSE 100 Charts.
FTSE 100
Index Chart
From Oct 2021 to Oct 2022 Click Here for more FTSE 100 Charts.