The FTSE 100 closed down 0.26% on Tuesday while awaiting
interest rate decisions by the U.S. Fed and U.K.'s Bank of England.
Retailers led the fallers, with Ocado Group down 11% and Kingfisher
slipping 4.4%. On the brighter side, financial stocks led the
risers, with Standard Chartered climbing 3.49% and HSBC Holdings up
3.48%.
Companies News:
Entain to Acquire BetCity for up to EUR850 Mln
Entain PLC said Tuesday that it has agreed to acquire BetEnt BV
from Sports Entertainment Media BV for an initial consideration of
300 million euros ($312.2 million) and a deferred conditional
consideration of up to EUR550 million.
---
ITV Buys 79.5% of Plimsoll Productions for GBP103.5M to Expand
International Business
ITV PLC said Tuesday that it has agreed to buy a majority
interest in Plimsoll Productions for around 103.5 million pounds
($125.6 million) to further its strategy of expanding its
international content business.
---
Bunzl to Buy Hygi, a German Online Distributor of Cleaning and
Hygiene Products
Bunzl PLC said Tuesday that it has agreed to buy Hygi.de, a
German online distributor of cleaning and hygiene products, for an
undisclosed sum.
---
Revolution Bars Sees FY 2022 Ebitda Slightly Above Top End of
Views
Revolution Bars Group PLC said Tuesday that it expects to
deliver adjusted Ebitda after rental changes slightly ahead of the
top end of market expectations for fiscal 2022.
---
Ashtead FY 2022 Pretax Profit Rose; Increases Dividend
Ashtead Group PLC on Tuesday reported an increase in pretax
profit for fiscal 2022, and raised its dividend.
---
Bellway Sees Strong 2H Demand; FY 2022 Home Completions
Rising
Bellway PLC said Tuesday that it has seen strong sales demand in
the second half of fiscal 2022 to date, and it expects full-year
housing completions to rise.
---
Eco Atlantic Terminates Acquisition of JHI
Eco (Atlantic) Oil & Gas Ltd. said Tuesday that it has
terminated the acquisition of JHI Associates Inc., the owner of a
17.5% stake in the Canje block offshore Guyana.
---
Altus Strategies Agrees to Merge With Canada's Elemental
Royalties
Altus Strategies PLC said Tuesday that it has agreed to merge
with Canada's Elemental Royalties Corp. in a deal that will give
shareholders 47.1% of the enlarged group.
---
Condor Gold Raises GBP3.3 Mln to Progress La India Project in
Nicaragua
Condor Gold PLC said Tuesday that it has completed a private
share placement for 3.3 million pounds ($4 million) to fund a
feasibility study for its La India gold project in Nicaragua.
---
Frontier Developments Sees Record Revenue, Lower Adjusted Ebitda
for FY 2022
Frontier Developments PLC said Tuesday that it expects to report
record revenue and lower adjusted Ebitda for fiscal 2022 after a
strong end to the year.
---
SDX Energy Says Production Remains Above Guidance
SDX Energy PLC said Tuesday that its oil-and-gas production was
above guidance in the first five months of the year.
---
Sovereign Metals Shares Halted on ASX Ahead of Kasiya Project
Study in Malawi
Sovereign Metals Ltd. said Tuesday that its shares have been
suspended from trading on the Australian Securities Exchange ahead
of an announcement relating to an expanded scoping study at the
Kasiya project in Malawi.
---
Aferian Says 1H Revenue Edged Down as Device Sales Fell 8%
Aferian PLC said Tuesday that its first-half revenue will be
slightly lower, with fewer device sales offsetting growth in
software and services.
---
ITV Buys 79.5% of Plimsoll Productions for GBP103.5M to Expand
International Business -- Update
ITV PLC said Tuesday that it has agreed to buy a majority
interest in Plimsoll Productions for around 103.5 million pounds
($125.6 million) to further its strategy of expanding its
international content business.
---
Crest Nicholson Swung to 1H Pretax Loss on Exceptional Charge;
Revenue Rose
Crest Nicholson Holdings PLC said Tuesday that it swung to a
pretax loss for the first half of fiscal 2022 on exceptional
charges, though revenue rose.
---
Games Workshop Group Sees Higher FY 2022 Pretax Profit,
Revenue
Games Workshop Group PLC said Tuesday that it expects to post an
increased pretax profit and revenue for fiscal 2022.
---
Open Orphan Signs GBP7.2 Mln Antiviral Product Testing
Contract
Open Orphan PLC said Tuesday that it has signed a 7.2 million
pounds ($8.7 million) contract with a global pharmaceutical company
to test its orally administered antiviral product.
---
Synectics Expects Revenue Growth, Swing to 1H Operating
Profit
Synectics PLC said Tuesday that it expects a swing to an
operating profit for the first half of fiscal 2022 on the back of
revenue growth and gathering momentum in its end markets.
---
FirstGroup FY 2022 Pretax Profit Rose; Performance in Line With
Views
FirstGroup PLC said Tuesday that pretax profit for fiscal 2022
rose, and that its current performance is in line with the board's
expectations.
---
Paragon Banking Group 1H Pretax Profit Rose, Extends Buyback
Program
Paragon Banking Group PLC said Tuesday that pretax profit rose
for the first half of fiscal 2022 and that it has raised its
dividend payout and extended its share buyback program.
---
Kelsian Group Urges Go-Ahead Shareholders to Reject Gerard
Consortium Takeover
Kelsian Group Ltd. on Tuesday urged shareholders of transport
company Go-Ahead Group PLC to reject the 647.7 million-pound
($785.9 million) agreed takeover by Gerard Investment Bidco Ltd.
announced late on Monday.
Market Talk:
Synectics Set to Benefit From Postpandemic Recovery
0927 GMT - Synectics is set to benefit from the Covid-19
pandemic recovery in its largest end-user markets at some stage,
Shore Capital says. Although the security and surveillance systems
supplier's Asian market remains subdued, there are encouraging
signs of increased customer activity in North America and in
oil-and-gas, Shore analyst Rob Sanders says in a research note.
"Notwithstanding the current events in Ukraine, we continue to
believe that, when more normal trading conditions return, there
remains the potential for a significant uplift in profits as sales
growth picks up," the U.K. investment group says, adding that the
restoration of a dividend for 2021 provides it with confidence.
Shore has Synectics as a house stock. Shares are up 1% at 106.0
pence. (joseph.hoppe@wsj.com)
Bellway Benefits From Good Market Environment
0922 GMT - Bellway is still seeing a good demand environment in
the U.K.'s new housing market, albeit at somewhat slower rates,
Davy Research says. The U.K. house builder has reiterated its
financial guidance, expecting volumes of more than 11,100 units in
fiscal 2022 and 12,200 for fiscal 2023, Davy analyst Colin Sheridan
says in a research note. "Bearing in mind this reiteration of
guidance, we do not expect to change our forecasts, or any change
to consensus," the Irish research firm says. Davy retains an
outperform rating on Bellway stock. Shares are up 2.5% at 2,265
pence. (joseph.hoppe@wsj.com)
ITV's Plimsoll Productions Deal 'Looks Like a Winner'
0920 GMT - ITV gains 1% after the U.K. broadcaster said it was
buying a majority interest in U.K.-based Plimsoll Productions for
around 103.5 million pounds ($125.6 million) to further expand its
international television production business. The move will
strengthen ITV's position in natural history output, which has
widespread appeal around the world, AJ Bell says. "ITV has been
trying to beef up its production arm with a view to having shows
that appeal beyond its U.K. domestic audience and this acquisition
looks like a winner," Bell's investment director Russ Mould writes.
(philip.waller@wsj.com)
Revolution Bars Rises After Upbeat Trading Update
0918 GMT - Shares in Revolution Bars jump 11% after the U.K. pub
operator forecast that its fiscal 2022 adjusted Ebitda would be
slightly ahead of the top end of market expectations. Following the
trading update, the company's brokerage Peel Hunt upgrades 2022
forecasts: Ebitda rises to GBP18.2 million from GBP17.2 million,
pretax profit moves to GBP1.9 million from a GBP0.3 million loss,
and year-end net debt is revised to GBP1.5 million from GBP5.0
million. "This, combined with the refurbishments and the workstream
program (increasing the estate's average quality), means the
foundations are in place for faster expansion in a favorable
leasehold market," Peel Hunt says. (jaime.llinares@wsj.com)
FirstGroup Seen Well Positioned in U.K. Bus-Friendly
Environment
0913 GMT - Although FirstGroup could see an upside to consensus
valuations following the National Rail contract award, there might
be a downside to near-term consensus on its U.K. bus division
estimates, Ruairi Cullinane, analyst at RBC Capital Markets, says
in a note. The transport operator highlighted bus passengers at 76%
of prepandemic volumes, up from more than 70% in February, and
expects volumes to continue increasing after guiding for passenger
volumes to recover to around 80% to 90% of prepandemic levels in
the first year after social distancing ends. "We see FirstGroup as
well positioned in a more favorable environment for U.K. bus, with
more 'bus friendly' policies and more growthy trends among those
demographics more likely to travel by bus," Cullinane says.
(anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
June 14, 2022 12:42 ET (16:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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