The FTSE 100 falls ahead of the BOE; Weak profits hit JD Sports
FTSE 100 falls as JD Sports and property stocks fall
0823 GMT – The FTSE 100 index fell 0.4%, or 27 points to 7210, as losses in JD Sports Fashion and property stocks offset gains in oil and financial stocks. JD Sports tumbled 4% after the retailer reported lower first-half pretax profit and was cautious about trading in the second half. Land Securities, British Land, Segro and homebuilders are also falling. Still, BP and Shell gain as Brent rises 1.1% to $90.79 a barrel and Admiral, Lloyds Banking, Standard Chartered and Aviva rise ahead of Bank of England’s higher interest rate decision late. “We believe the BoE will raise its policy rate by ‘just’ 50 basis points as it weighs in on a looming recession against still-high inflation,” wrote Danske Bank analyst Antti Ilvonen. “However, we recognize that this is a close call between 50 and 75 basis points.” ([email protected])
Segro COO Andy Gulliford to retire in 2023
Segro PLC said on Thursday chief operating officer Andy Gulliford would retire from the company in 2023.
GSK obtains urinary tract infection treatment license with Spero Therapeutics
GSK PLC announced Thursday that it has signed an exclusive license agreement with Spero Therapeutics Inc. to market tebipenem HBr, an antibiotic currently in late-stage studies that could treat complicated urinary tract infections.
Halma PLC sees good progress on 1H; Supports FY2023 guidance
Halma PLC said on Thursday it expected to report good progress in the first half, meeting management’s expectations, and its order intake was ahead of the same period last year.
Saint-Gobain authorized by the British regulator for the acquisition of GCP
The British competition authority said Thursday that it would not pursue its investigation into the proposed takeover of GCP Applied Technologies Inc by Compagnie de Saint-Gobain SA.
LXI REIT swaps deals with Sainsbury’s over £500m grocery portfolio
LXI REIT PLC said on Thursday it had swapped contracts with J Sainsbury PLC to acquire a portfolio of grocery stores for 500 million pounds ($563.5 million), and was in talks with investors on the funding.
JD Sports Fashion’s first-half pretax profit fell due to higher costs; Sales increased
JD Sports Fashion PLC on Thursday reported lower pre-tax profit for the first half after recording higher costs, although it said sales increased due to high levels of demand for its sports products.
Smiths News Set to Beat FY2022 Market Views on Strong Levels of Sales and Demand
Smiths News PLC said on Thursday that its performance for the second half of fiscal 2022 was strong and that it expects to end the fiscal year beating market views.
Polymetal moved to a 1H net loss on falling gold sales; back guide
Polymetal International PLC said on Thursday it posted a net loss in the first half as revenue fell on lower gold sales, and backed its production forecast for the year.
Widening of PensionBee’s pre-tax loss in the first half; Sales increase
PensionBee Group PLC on Thursday reported a widened pre-tax loss for the first half of 2022 after recording higher costs, although it said revenue and assets under administration had increased significantly.
Playtech’s first-half pretax profit fell on strong comparative period; Turnover up
Playtech PLC said on Thursday that pre-tax profit for the first half of 2022 fell significantly, despite higher revenues, as distribution costs rose and the comparative period saw a large one-time benefit, and supported its outlook for the whole year.
Aquis Exchange First-half pre-tax profit, sales fell due to market volatility
Acquis Exchange Ltd. on Thursday reported a significant drop in pretax profit and sales for the first half of 2022 due to market volatility, but said its current performance is in line with market expectations for the full year .
Safestyle went to a pre-tax loss of 1H due to a cyberattack; Fall in stocks
Shares of Safestyle UK PLC fell after it said on Thursday it posted a first-half pre-tax loss due to costs and disruption from a cyberattack, and was restoring dividend payments.
Begbies Traynor sees FY2023 earnings in line with market views
Begbies Traynor Group PLC said on Thursday it expects to deliver a pre-tax profit for the financial year 2023 in line with market expectations, driven by growing demand in insolvency and restructuring cases.
Time Finance FY 2022 Pre-tax profit fell; The new year starts well
Time Finance PLC said on Thursday that its profit before tax for the financial year 2022 fell and revenue fell slightly, although the new year started well with an increase in profits.
PZ Cussons FY2022 Pre-Tax Profit Dropped Due to Higher Costs; Increase the dividend
PZ Cussons PLC said on Thursday that pre-tax profit for the financial year 2022 fell due to higher costs, although it increased its dividend payout.
Trakm8 Holdings performs in line with market expectations
Trakm8 Holdings PLC said on Thursday it continued to operate in line with market expectations since September 14 and remained confident to meet the board’s views for this year, and an improving outlook for the next.
Learning Technologies’ first-half pretax profit increased on higher acquisition revenue
Learning Technologies Group PLC said on Thursday that first-half pretax profit rose as revenue rose due to contributions from an acquisition and currency tailwinds, and its performance continued into the second half.
GetBusy ARR has increased since June 30 and supports full year guidance
GetBusy PLC said Thursday that annual recurring revenue to August 31 increased slightly from June 30, boosted by strong new business and monetization across the group, and supported its full-year guidance.
Petro Matad shares fall on widened half-year loss and ongoing access issues
The shares of Petro Matad Ltd. fell on Thursday after the company said the first-half pretax loss had widened and a land access issue surrounding its Heron 1 field in Mongolia was still unresolved.
Halma seems a safe long-term bet given the growth drivers
07:42 GMT – Halma’s first-half update was strong, in line with Shore Capital’s expectations despite a tough trading environment and operational challenges. The safety, health and environmental technology company has seen good growth in all of its sectors, and its goal – to create a “safer, cleaner and healthier future” – is supported by population growth, urbanization and digitization, Shore analysts Akhil Patel and Tom Fraine said in a research note. “In our view, Halma is a high-quality company with long-term growth drivers — increasing health and safety regulations, demand for health care in developing economies, and demand for vital resources — — and demand for vital resources — and strong operating margins,” Shore said. He retains his buy rating on Halma shares. The shares are down 0.5% at 2,098 pence. ([email protected])
JD Sports’ weak stock price looks like an opportunity for investors
0736 GMT – JD Sports Fashion’s latest H1 update shows the fashion retailer to be one of the strongest players in the industry, Shore Capital says in a research note. The FTSE 100-listed company’s recent share price weakness is actually an opportunity for investors, the UK brokerage said, noting JD Sports’ return to growth in the US. our positive attitude towards the company,” adds Shore. Shore has a Buy recommendation on the stock. The shares are down 3.3% at 119.85 pence. ([email protected]; @sabelaojeaguix)
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(END) Dow Jones Newswire
September 22, 2022 04:49 ET (08:49 GMT)
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