UKX FTSE 100 Index

FTSE 100 Led Higher by Energy Stocks as Oil Prices Recover

0851 GMT - The FTSE 100 gains 0.7% to 7424 points, led by energy stocks as oil prices recover after Saudi Arabia denied a report it was considering an increase in crude output with OPEC and its allies. Harbour Energy, BP and Shell are the biggest risers. Brent crude rises 1.3% to $88.55 per barrel. "While China reopening risks are top of mind for markets, we expect the oil market to tighten in the coming months and Brent to climb to $110/bbl in 2023," UBS Global Wealth Management analysts say in a note. Mining stocks are also higher as metal prices rise. Severn Trent falls 1.8% after the water utility's interim results. (renae.dyer@wsj.com)

 
Companies News: 

CRH Nine-Month Sales Rose on Year on Resilient Demand, Strong Pricing

CRH PLC said Tuesday that sales rose on year for the first nine months of 2022 as it experienced resilient underlying demand, strong pricing and continued delivery from its integrated solution strategy.

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Homeserve 1H Pretax Profit Rose; Brookfield's Takeover Nears Completion

Homeserve PLC on Tuesday reported a rise in pretax profit for the first half of fiscal 2023, driven by a robust performance across its businesses, and said that its acquisition by Brookfield is nearly completed.

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Babcock International 1H Pretax Profit Hit by Higher Costs

Babcock International Group PLC on Tuesday reported a 13% fall in pretax profit for the first half of fiscal 2023 due to higher costs, and backed its guidance to be free cash flow positive in the second half of the year.

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Severn Trent 1H Swung to Net Profit on Cost Controls, Rise in Turnover

Severn Trent PLC on Tuesday reported a swing to a net profit for the first half of the fiscal year, driven by strong cost control and an increase in turnover, reflecting an outperformance in its water business.

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AO World 1H Pretax Loss Widened on Higher Costs

AO World PLC said Tuesday that pretax loss for the first half of fiscal 2023 widened amid higher costs and lower revenue, but added that it made a solid strategic progress to refocus the business on profit and cash generation.

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M Winkworth Expects 2022 Revenue, Pretax Profit to Beat Forecasts

M Winkworth PLC said Tuesday that business conditions have remained strong and that it now expects full-year revenue to exceed management forecasts and profit to be beat market expectations.

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Avon Protection Narrows FY 2022 Pretax Loss, Revenue Rose on Strong Demand

Avon Protection PLC said Tuesday that its fiscal 2022 pretax loss narrowed as revenue rose, reflecting a strong second-half financial performance with significant demand.

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Softcat Has Performed Well in 1Q, in Line With FY 2023 Guidance

Softcat PLC said Tuesday that it has performed well in the first quarter of the new fiscal year, in line with management expectations and guidance provided last month.

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Knights Group 1H Pretax Profit Rose; Sees FY 2023 Performance in Line With Views

Knights Group Holdings PLC said Tuesday that performance for the first half of fiscal 2023 is in line with full-year expectations as it continues to seek for further acquisitions.

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Osirium Technologies Raises GBP1.5 Mln via Equity Issues; Makes Board Changes

Osirium Technologies PLC said Tuesday that it has raised 1.5 million pounds ($1.8 million) via a heavily discounted share placing and subscription, and will use the money for general working capital purposes.

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Helical 1H Pretax Profit Fell on Revaluation Losses

Helical PLC said Tuesday that pretax profit for the first half of fiscal 2022 fell due to a swing to revaluation losses on its investment properties and direct costs.

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Petershill Partners 3Q Assets Under Management Rose on Robust Fundraising

Petershill Partners PLC said Tuesday that third-quarter assets under management rose and that fee-paying assets were ahead of full-year expectations.

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Restore Trading to Date Has Been Strong; 2H Revenue to Date Ahead

Restore PLC said Tuesday that trading for the year to date has been strong, with revenue for the second half so far ahead of the same period last year.

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Severfield 1H Pretax Profit Rises on Higher Activity, Steel Prices

Severfield PLC said Tuesday that its first-half pretax profit and revenue rose, reflecting increased activity and steel prices.

 
Market Talk: 

CRH 9-Month Results Show Outperformance From American Exposure -- Market Talk

0818 GMT - CRH PLC's results for the first nine months of the year were broadly in-line with expectations, reaffirming full-year guidance as American pricing offsets a softening in Europe, Citi says. The Irish building-materials supplier's pricing, inorganic progression and operational improvements continue to carry it in a difficult underlying trading environment although American exposure once again outperforms, Citi analysts say in a research note. "CRH continues to be our top pick with its large exposure to the U.S. market, a diversified portfolio and a strong balance sheet," the U.S. bank says. Citi retains its buy rating and EUR47.0 target on the stock. (joseph.hoppe@wsj.com)

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

November 22, 2022 04:06 ET (09:06 GMT)

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