The FTSE 100 closed down on Tuesday as the situation in Ukraine
worsened and the price of oil rose despite speculation around the
U.S. plans to release strategic reserves. The biggest faller in the
session was steel and mining company Evraz PLC, which operates
mainly in Russia, and closed the day down 29% at 102.85 pence,
followed closely by Russian mining company Polymetal International,
which was down 26% at 258.90 pence. On the up side, BAE Systems was
the biggest riser of the day, closing up 3.7% at 746.20 pence,
buoyed by expectations of an increase in defense spending stemming
from the war in Ukraine.
Companies News:
S4 Capital Backs 2021 Guidance But Earnings to Be Delayed
S4 Capital PLC said Tuesday that it still expects to report
strong growth for 2021 but earnings will be delayed due to
Covid-related restrictions.
---
Intertek 2021 Profit Rose on Revenue Growth, Higher Margins
Intertek Group PLC on Tuesday reported a higher profit for 2021,
reflecting higher revenue and margins.
---
Croda International 2021 Pretax Profit Rose on Pandemic
Recovery
Croda International PLC said Tuesday that pretax profit for 2021
rose, with all of its businesses delivering underlying growth ahead
of pre-pandemic levels.
---
Shell Names Sinead Gorman as CFO, Replacing Jessica Uhl
Shell PLC said Tuesday that it has named Sinead Gorman as its
incoming chief financial officer, effective April 1, while current
CFO Jessica Uhl will step down on March 31.
---
Travis Perkins Swung to 2021 Pretax Profit on Coronavirus
Recovery
Travis Perkins PLC said Tuesday that it swung to a pretax profit
in 2021 as it recovered from the coronavirus pandemic, reinstating
dividends.
---
Fiske 1H Pretax Loss Narrowed on Increased Management Fees
Fiske PLC said Tuesday that its pretax loss narrowed in the
first half of fiscal 2022 as revenue rose on increased investment
management-fee income.
---
Abrdn 2021 Pretax Profit Rose; Keeps FY Dividend Unchanged
Abrdn PLC said Tuesday that pretax profit for 2021 rose on the
back of positive market movements and reduced net outflows, and
maintained its total dividend payout.
---
Revolution Bars Swung to Pretax Profit in 1H; Outlook
Positive
Revolution Bars Group PLC reported on Tuesday a swing to a
pretax profit for the first half of fiscal 2022 amid the end of
Covid-19 restrictions.
---
Polyus Reports 4Q Profit Fell, Backs 2022 Guidance
Polyus PJSC on Tuesday reported a lower profit for the fourth
quarter, and reiterated production guidance for 2022.
---
Tibergest PTE Gets Low-Level Acceptances for Photo-Me
International Offer
Tibergest PTE Ltd., a company owned by Photo-Me International
PLC Chief Executive Serge Crasnianski, said Tuesday that it has
received acceptances from shareholders owning 65,774 Photo-Me
shares.
---
Reach's 2021 Pretax Profit, Revenue Increased on Digital
Growth
Reach PLC said Tuesday that revenue and pretax profit rose for
2021 as digital growth more than offset a decline in print, though
it expects 2022 profit will be hit by print-driven cost
inflation.
---
Man Group 2021 Pretax Profit, Assets Under Management Rose on
Positive Markets Trend
Man Group PLC said Tuesday that pretax profit in 2021 rose as
assets under management increased 20%, driven by positive momentum
in markets.
---
Essensys 1H Revenue Rose Amid Higher US Recurring Revenue
Growth
Essensys PLC said Tuesday that revenue increased in the first
half of fiscal 2022, marked by continuing U.S. recurring revenue
growth and resilient global customer demand, and said the board
remains confident about the group's future growth.
---
Essensys Share Fall After Warning on FY 2022 Due to Covid-19
Hit
Shares in Essensys PLC on Tuesday fell after the company said
the board expects to miss market expectations for fiscal 2022 due
to a delay in the progress of go-to-market activities amid
Covid-19, despite also seeing revenue growth in the first half.
---
Advanced Oncotherapy Expects Tumor Treatment System to Be Fully
Operational This Summer
Advanced Oncotherapy PLC said Tuesday that it expects its LIGHT
tumor treatment system to be fully operational this summer.
---
Rotork 2021 Profit Fell as Revenue Was Hurt by Supply-Chain
Issues
Rotork PLC on Tuesday reported a profit drop for 2021, as
supply-chain constraints hurt the business.
---
Mobile Streams Says Monthly Revenue Rises Significantly;
Prepares for Huawei Users
Mobile Streams PLC said Tuesday that its monthly revenue is now
more than $150,000, nearly doubling since December, and it has
begun the process of making its content available to Huawei
Technologies Co. handset users.
---
PCI-PAL 1H Pretax Loss Narrows; Sees FY in Line With Market
Views
PCI-PAL PLC said Tuesday that pretax loss narrowed in the first
half of fiscal 2022 on a rise in revenue, and that it remains on
track to meet its market forecasts for the current financial
year.
---
XP Power Chairman James Peters to Retire in 2023
XP Power Ltd. said Tuesday that Chairman James Peters intends to
retire after the general meeting in April 2023.
Market Talk:
Reach's Positive Management Not Seen Protecting It From
Inflation
1105 GMT - Reach's management has performed well in a difficult
environment, but the U.K. media group's pretax profit for 2022
should be hit by inflation on news print, energy, salaries and
distribution, Peel Hunt says. The share price has declined to a
level well below its 280 pence target price, Peel Hunt adds. While
this should open the door to a more positive recommendation than
its hold, it stops short of an upgrade owing to uncertainty
relating to the U.K. consumer environment and over Western European
security, with its implications for economic growth, the U.K.
brokerage says. Shares trade down 25% at 171.40 pence.
---
Revolution Bars 1H Earnings Should Drive Upgrades to
Forecasts
1047 GMT - Revolution Bars' earnings for the first half of
fiscal 2022 were strong and will likely drive full-year upgrades to
consensus, Peel Hunt says. The U.K. brokerage raises its full-year
Ebitda consensus for the bar operator--which owns the Revolution
and Revolution de Cuba brands--by 12% to GBP9 million. "We believe
incremental sales from refurbishments could drive more forecast
upgrades, hence we view the shares as attractive," it adds. Peel
Hunt has a buy recommendation on the stock and a target price of 35
pence a share. Shares are up 6.3% at 21.25 pence.
---
UK Households Credit Growth Likely to Remain Weak in the
Short-Term
1026 GMT - The muted rise in U.K. consumer credit in January
suggests that households were cautious at the beginning of the
year, while the outlook for borrowing in the short-term is
darkening, Capital Economics says. Consumer credit rose by GBP0.6
billion in January, smaller than the GBP0.8 billion in December and
well below the GBP1.2 billion average monthly increase in the two
years prior to the pandemic, the economic-research firm says. "With
higher interest rates on the horizon and the cost of living crisis
only set to worsen, we wouldn't be surprised after a rebound in
February to see credit growth remain weak in the months ahead," CE
says.
---
Flutter Entertainment Shares Are Seen as Good Value
1020 GMT - Flutter Entertainment's 2021 Ebitda excluding the
U.S. was down 10%, but Peel Hunt reiterates its buy recommendation
as it says the shares represent good value following a period of
decline. The recommendation is based on the Sisal deal in Italy,
which is due to complete, and strong market leadership in the U.S.,
the U.K. brokerage says. Revenue growth is seen accelerating in the
second half as the first six months present tough comparatives, it
says. The revenue contribution from Russia and Ukraine is in
jeopardy, but its exposure to the countries has been falling, with
the GBP60 million contribution in 2021 being 4% of group Ebitda
excluding the U.S. Peel Hunt reiterates its target price of 14,500
pence. Shares trade down 15% at 9,228 pence.
---
UK's Factory Sector Growth Accelerates on Strong Demand,
Improving Supply Chains
0952 GMT - Factory activity in the U.K. gained momentum in
February due to strong domestic demand, fewer input shortages and
easing global supply-chain pressures, according to a purchasing
managers survey. The IHS Markit/CIPS manufacturing PMI increased to
58.0 in February from 57.3 in January, a three-month high. Faster
growth in output, new orders and inventories lifted the index,
offsetting the effect of slower job creation and lessening
supply-chain disruptions, the report says. Input price inflation
remained high, but the survey points to moderating cost increases.
"Although this easing may have provided some temporary respite,
signs that energy and oil prices may stay high is a further cause
for concern," IHS Markit director Rob Dobson says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
March 01, 2022 12:38 ET (17:38 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Bae Systems (LSE:BA.)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bae Systems (LSE:BA.)
Historical Stock Chart
From Apr 2023 to Apr 2024
