The FTSE 100 closed Wednesday down 0.2% to 7676 points, dragged by the mining sector which, offset rises for Ocado and Rolls-Royce, and in line with global peers as investors limit risk and focus on the U.S. Federal Reserve meeting, IG Group chief market analyst Chris Beauchamp said in a note. "Inflation in the U.S. has come down impressively, but is expected to rise again in coming months thanks to base effects...it looks like the Fed will have to give investors a dose of tough love," Beauchamp adds. Ocado shares rose 25% and lead the index's top risers, followed Rolls-Royce, up 21% after upgrading its 2023 targets on the back of better-than-expected profit in 1H. NatWest was the worst performer, closing down 3.7%, followed Rio Tinto, down 3.1% after reporting a 1H earnings fall and Glencore, down 2.6%.


COMPANIES NEWS:

Fresnillo Backs Full-Year View After 2Q Silver Production Rose, Gold Fell

Fresnillo on Wednesday backed its full-year guidance after second-quarter total silver production rose 13%, but gold output fell 12%.

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Reckitt Benckiser 1H Pretax Profit Fell Despite Price Growth; Backs Revenue Guidance

Reckitt Benckiser Group said Wednesday that pretax profit for the first half of the year slipped despite a rise in revenue, as volumes slipped and operating expenses rose, and backed its revenue growth expectations for the full year.

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Lloyds Banking Lifts 2023 Interest Margin, Returns Guidance; 2Q Pretax Profit Missed Views

Lloyds Banking Group on Wednesday posted pretax profit for the second quarter of 2023 below expectations but lifted some of its guidance for the year.

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British American Tobacco 1H Pretax Profit Rose as Revenue Beat Consensus; Backs Guidance

British American Tobacco said Wednesday that first-half pretax profit rose as revenue beat consensus driven by new categories, and backed its guidance for the year.

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GSK PLC Raises 2023 Guidance After 2Q Net Profit Beat

GSK PLC on Wednesday raised its full-year guidance after reporting a more than doubled second-quarter net profit which beat market forecasts.

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Rio Tinto 1H Earnings, Dividend Fall on Weaker Commodity Prices

Mining giant Rio Tinto reported a 43% drop in first-half net profit and pared its payout to shareholders, reflecting a fall in commodity prices as China's economic recovery faltered.

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Rolls-Royce Raises Full-Year View After Stronger-Than-Expected 1H Performance

Rolls-Royce Holdings on Wednesday lifted its full-year guidance after better-than-expected underlying operating profit in the first half of 2023.

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Aston Martin 1H Loss Narrowed, Revenue Rose on Volume, Price Growth

Aston Martin Lagonda Global said Wednesday that its first-half pretax loss narrowed and revenue rose on higher volumes and increased prices, and it expects to largely achieve its 2025 financial targets by 2024.

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Revolution Bars Sees FY 2023 Ebitda in Line; Business Conditions to Remain Challenging

Revolution Bars Group said Wednesday that it expects Ebitda for fiscal 2023 to be in line with market expectations of 6.6 million pounds ($8.5 million), and that it expects business conditions to remain challenging in fiscal 2024.

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Marston's FY 2023-To-Date Sales Up; Confident in Position for Future

Marston's said Wednesday that like-for-like sales for the 42-week period to July 22 were up 11% on year, reflecting strong food and drink sales, and that it was confident in navigating macroeconomic headwinds.

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Rathbones 1H Pretax Profit Fell on Investec W&I UK Combination; Lifts 2023 Interest Income Guidance

Rathbones Group on Wednesday raised its net interest income guidance for 2023 as it posted a fall in pretax profit for the first half of the year.

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Centamin Backs Views After 2Q Pretax Profit, Revenue Rose

Centamin on Wednesday backed its full-year guidance after reporting a second-quarter rise in pretax profit and revenue.

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FRP Advisory FY 2023 Pretax Profit, Revenue Rose

FRP Advisory Group said Wednesday that its pretax profit and revenue rose in fiscal 2023, while performance in the current fiscal year has been in line with expectations.

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Norcros 1Q Revenue Rose on Constant-Currency Basis; Expectations Unchanged for FY 2024

Norcros said Wednesday that revenue rose 2.1% on a constant-currency basis for the first quarter of fiscal 2024, and that the board's expectations for the year remained unchanged.

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Nichols Confident on 2023 Views Amid Rising 1H Revenue

Nichols said Wednesday that it is confident of meeting its targets for the year after first-half revenue rose, led by the core packaged-drinks business.

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NatWest CEO Steps Down After Discussing Nigel Farage's Bank Account -- Update

NatWest Group Chief Executive Alison Rose has stepped down after her conversation with a journalist about an outspoken Brexit campaigner engulfed the bank in a political drama.

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WANdisco Makes Interim CEO, CFO Permanent

WANdisco said Wednesday that two top interim executives will be made permanent in their positions as the company looks to move on from regulatory probes and an equity raise that decimated its share price.

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Mortgage Advice Bureau 1H Revenue Rose, Sees Current Performance In Line

Mortgage Advice Bureau on Wednesday said it sees its current performance in line with market expectations as second-quarter new mortgage approvals suggest that activity levels are improving, and posted an increase in revenue for the first half of 2023.

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Motorpoint Sees Improved Performance First, Second Quarters

Motorpoint Group said Wednesday that its business performance improved throughout the first quarter, and that it expects this to continue through the second quarter despite tough macroeconomic conditions.

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Wilmington Shares Rise After It Sees FY 2023 Revenue, Profit Growth

Wilmington shares rose on Wednesday after the company said it expects to report revenue and pretax profit growth for fiscal 2023.

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LBG Media 1H Revenue Rose, Sees 2023 in Line With Views; COO Resigns

LBG Media said Wednesday that revenue in the first half rose and that the board's outlook for the year remained in line with market expectations and that Chief Operating Officer Arian Kalantari has resigned with immediate effect.

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Simec Atlantis Energy Shares Surge as Trading Resumes

Shares in Simec Atlantis Energy soared 72% on Wednesday after the company said group losses narrowed in 2022, and that trading in its shares was restored following the publication of results.

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Great Western Mining Shares Fall on Fund Raising

Shares in Great Western Mining fell 30% on Wednesday after the company said it has raised 500,000 pounds ($645,150) via a discounted share placing and will use the money toward its Western Milling joint venture in Nevada.

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RTC Shares Rise on Swing to 1H Pretax Profit, Dividends Reinstatement

Shares in RTC Group rose Wednesday after the company said it swung to a pretax profit as revenue rose on increased contract revenue in the first half, and that it was reinstating dividends.

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HVIVO Upbeat on 2023 Goals After 1H Revenue Surged on Clinical-Trial Demand

hVIVO said Wednesday that it is confident of meeting its revenue and profitability goals for the full year, as high demand for its testing and trials boosted earnings in the first half of the year.

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Breedon 1H Profit Slips on Higher Costs; Revenue Rose on Higher Prices

Breedon Group said Wednesday that its first-half pretax profit marginally slipped on higher costs and expenses though revenue rose, and backed its full-year expectations.

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Ecora Resources 2Q Portfolio Contribution Fell as Expected

Ecora Resources said Wednesday that its second-quarter portfolio contribution fell 50% sequentially on declines across its portfolio.

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IQE's 1H Revenue in Line With Market Guidance; Performance With Management Views

IQE said that it expects revenue for the first half to be in line with market guidance, and that its performance in the period was in line with management's expectations.

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Tialis Essential Expects Rise in 1H Revenue, Earnings; Considers Share Buyback

Tialis Essential IT said Wednesday that it expects first-half revenue and adjusted earnings to rise on year, and it is considering to buy back shares.

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Enwell Energy 2Q Production Rose Despite Operational Challenges

Enwell Energy said Wednesday that second-quarter production rose, but that the war in Ukraine and the suspensions of two licences continue to cause severe operational disruptions.

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Uniphar Confident on Meeting 2023 Ebitda Views After 1H Profit Growth

Uniphar said Wednesday that it expects to meet 2023 earnings views after the company posted in-line gross profit growth in the first half.

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Robert Walters Taps David Bower as CFO

Robert Walters PLC said Wednesday that it has appointed David Bower as chief financial officer with effect from Sept. 4.

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MyHealthChecked CFO Nicholas Edwards to Leave at End of Month

MyHealthChecked said Wednesday that Chief Financial Officer Nicholas Edwards will leave the company at the end of this month after 15 months in the role.

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Gresham House Backs Views After Rise in 1H Assets Under Management

Gresham House said Wednesday that assets under management rose in the first half of the year despite a challenging economic backdrop, and that it expects to meet management expectations for 2023.

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Learning Technologies Shares Fall on Lower 2023 Revenue Expectations

Shares in Learning Technologies Group fell Wednesday after the company said that it expects to report a decline in 2023 revenue and flat first-half organic revenue growth on year.

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Ethernity Networks CFO Mark Reichenberg to Step Down End of July

Ethernity Networks said Wednesday that Chief Financial Officer Mark Reichenberg will step down from the board by mutual agreement, effective from the end of July.

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07-26-23 1205ET