Omicron Variant Seen Posing Threat to Pound

1006 GMT - The Omicron coronavirus variant poses a threat to the pound's outlook, ING says. "A worsening of the virus situation globally and specifically in the U.K. may not only put upward pressure on EUR/GBP due to the pound's higher sensitivity to risk sentiment but may also mean markets could increasingly price out a December [interest] rate hike by the Bank of England," ING forex strategist Francesco Pesole says. While it's too early to draw conclusions on that, a "choppy risk environment" may lift EUR/GBP on Tuesday, he says. EUR/GBP gains 0.3% to a two-week high of 0.8510, according to FactSet.(renae.dyer@wsj.com)

 
Companies News: 

WPP Acquires Cloud Commerce Group for Undisclosed Sum

WPP PLC said Tuesday that it has acquired U.K.-based e-commerce technology platform Cloud Commerce Group for an undisclosed sum.

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Marston's FY 2021 Loss Narrowed on Lower Exceptional Costs

Marston's PLC on Tuesday reported a narrowed loss for the year ended Oct. 2, reflecting lower net exceptional costs, and said that current performance is encouraging.

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Pennon 1H Pretax Profit Rose

Pennon Group PLC on Tuesday reported improved earnings for the first half of the fiscal year, helped by the acquisition of Bristol Water in June.

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Topps Tiles Swung to FY 2021 Pretax Profit; Resumes Dividend

Topps Tiles PLC reported Tuesday a swing to pretax profit for fiscal 2021 boosted by higher revenue and reinstated its dividend payout.

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MGC Pharmaceuticals to Raise GBP5.5 Mln Via Share Placing

MGC Pharmaceuticals Ltd. said Tuesday that it received support to raise 5.5 million pounds ($7.3 million) via a share placing, and that it will put the money toward its Covid-19 treatment CimetrA, a new Malta production facility and for general working capital purposes.

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Countryside Swung to FY 2021 Pretax Profit, Revenue Rose

Countryside Properties PLC said Tuesday it swung to a pretax profit for fiscal 2021 on the back of an increase in homes sold and selling prices.

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Micro Focus International Targets 1%-2% Medium-Term Rev Growth

Micro Focus International PLC said Tuesday that it is targeting medium-term revenue growth of 1%-2% and the cutting of $400 million to $500 million in costs by the end of fiscal 2023.

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DP Eurasia Ten-Month Sales Rose 52%

DP Eurasia NV said Tuesday that its sales grew 52% in the first ten months of the year, reflecting strong demand in Turkey.

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EasyJet FY 2021 Pretax Loss Narrowed, Revenue Fell Due to Covid-19

EasyJet PLC said Tuesday that its fiscal 2021 pretax loss narrowed, beating market expectations on the back of reduced costs and that it expects to recover further in the new year, though revenue fell.

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Future FY 2021 Pretax Profit, Revenue Rose

Future PLC said Tuesday that profit for fiscal 2021 rose as revenue increased, and raised its guidance for fiscal 2022.

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Town Centre Securities Posts Narrowed FY 2021 Pretax Loss

Town Centre Securities PLC said Tuesday that its pretax loss narrowed in fiscal 2021, as it benefited from revaluations of its portfolio, though revenue fell.

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Sosandar 1H Pretax Loss Narrowed; Performance Ahead of FY Expectations

Sosandar PLC on Tuesday reported a narrowed pretax loss for the first half of fiscal 2022, backed by higher revenue as coronavirus-related restrictions eased, and said it is currently operating ahead of market expectations.

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Hochschild to Acquire Brazil-Focused Miner Amarillo Gold

Hochschild Mining PLC said Tuesday that it has agreed to acquire TSX-listed Amarillo Gold Corp. for a transaction value of 164.5 million Canadian dollars (US$129.1 million).

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One Media iP Group Sees FY 2021 Revenue, Ebitda Increase

One Media iP Group PLC said Tuesday that it expects to report increased revenue and earnings before interest, taxes, depreciation and amortization for fiscal 2021.

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Greencore Group Swung to FY 2021 Pretax Profit as Revenue Rose

Greencore Group PLC said Tuesday that it swung to a pretax profit for fiscal 2021 as revenue rose after the food-to-go and convenience categories posted growth.

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VP PLC Reports 1H Profit, Sees FY 2022 Performance in Line

VP PLC on Tuesday reported improved earnings for the first half of the fiscal year, and forecast a full-year performance in line with internal expectations.

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John Menzies Sees 2021 in Line With Views; Warns on Labor Shortages

John Menzies PLC said Tuesday that the board expects 2021 performance to be at least in line with market expectations, but noted that labor availability, particularly in North America, remains challenging.

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GB Group 1H Pretax Profit Fell; 2H Seen in Line With Views

GB Group PLC said Tuesday that pretax profit fell for the first half of fiscal 2022 after booking higher costs, and that the board was confident of meeting its financial expectations for the remainder of the fiscal year.

 
Market Talk: 

Hochschild's Acquisition of Amarillo Looks Very Affordable, Peel Hunt Says

1016 GMT - Hochschild's acquisition of Amarillo Gold and the cost of building the Posse project is very affordable for the FTSE 250 mining company, Peel Hunt says. The transaction, which has a net cost of C$135 million, also provides a good use of cash, being deployed into a long life-of-mine, lower-risk gold growth project outside Peru, the brokerage says. In addition, the development of the Posse gold project should increase Hochschild's production by 20%-25% by 2024 and help lower the company's operating costs, Peel Hunt says. (jaime.llinares@wsj.com)

EasyJet Focuses on Building Back Capacity Despite Omicron

0955 GMT - EasyJet's focus is on building back growth into the next summer, indicating demand is accelerating with key periods such as October half-term and the ski and Christmas seasons seeing strong performances, Davy Research says. EasyJet's plan is to continue to add capacity--it expects to fly around 70% of 2019 capacity in the upcoming second quarter, and fourth-quarter summer capacity will be close to 2019 levels, the Irish research firm says. "Although EasyJet says that it is too soon to see the impact of Omicron, second half summer revenue booked is ahead of fiscal 2019," Davy says, retaining its neutral rating on the budget airline stock. Shares are down 2.1% at 492.2 pence. (joseph.hoppe@wsj.com)

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

(END) Dow Jones Newswires

November 30, 2021 06:10 ET (11:10 GMT)