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Attractive Pricing Should Lure Investors to Gilt Auction

08/24/2021 | 06:11am EST

Attractive Pricing Should Lure Investors to Oct 2026 Gilt Auction

0841 GMT - Attractive pricing should help the U.K. Debt Management Office's planned sale of GBP3 billion in October 2026 gilt to go smoothly, says RBC Capital Markets. "The bond looks quite attractive cross-market versus bunds [and] on the curve versus longer maturities," which should be enough to support a smooth auction, analysts at the bank say. Excluding any post-auction proceeds, today's tap will bring the total nominal amount outstanding on the bond to GBP19.6bn, they say. The bond was last tapped on July 27 and is scheduled to be tapped once more this quarter on September 14, according to the DMO issuance calendar. (lorena.ruibal@wsj.com)

 
Companies News: 

Rio Tinto Restarts Operations at Richards Bay Mine in South Africa

Rio Tinto Ltd. said Tuesday that it is resuming operations at its Richards Bay mineral-sands business in South Africa.

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Mediazest Sees Improved 2H Performance

Mediazest PLC said Tuesday that recent contract wins have led to a notable improvement in its performance for the second half of fiscal 2021 and that its outlook beyond the current year also looks encouraging.

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Wood Group's 1H Underlying Earnings at Higher End of Guidance, Backs FY View

John Wood Group PLC on Tuesday reported a net loss for the first half of the year but said underlying earnings were towards the higher end of the guided range.

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Gfinity Raises GBP3.3 Mln to Part-Fund Acquisition

Gfinity PLC said Tuesday that it has raised 3.3 million pounds ($4.5 million) via the share placing, subscription and PrimaryBid offer to part fund the acquisition of Megit Ltd., as first announced Monday.

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Science Group Won't Raise GBP50.6 Mln Takeover Proposal for TP Group

Science Group PLC said Tuesday that it doesn't plan to increase its 50.6 million pound ($69.4 million) takeover proposal for TP Group PLC and has therefore declared it final.

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Polyus 2Q Profit Rose on Higher Gold Sales

Polyus PJSC on Tuesday reported that its profit increased 43% in the second quarter compared with the prior period, reflecting higher gold production.

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Essensys Sees FY 2021 Adjusted Earnings In Line With Expectations

Essensys PLC said Tuesday that adjusted earnings for fiscal 2021 is expected to be in line with consensus forecasts, and that revenue fell slightly but matched forecasts.

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Tanfield Group Says Snorkel International Revenue More Than Doubled in 2Q

Tanfield Group PLC said Tuesday that revenue at its 49%-owned Snorkel International Holdings LLC more than doubled in the second quarter of 2021 and that net loss for the first half narrowed.

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CPPGroup Swung to 1H Pretax Loss; Sees Full Year in Line With Market Views

Insurer CPPGroup PLC said Tuesday that it swung to a pretax loss from continuing operations in the first half of the year as a result of exceptional costs and that full-year performance should be in line with market expectations.

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Tirupati Graphite FY 2021 Gross Profit Rose 66%

Tirupati Graphite PLC said Tuesday that its gross profit increased 66% in the fiscal year ended March 31.

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Global Ports Holding Says Cruise Activity Levels Are Increasing

Global Ports Holding PLC said Tuesday that cruise-activity levels are increasing, although they remain low versus historical standards, and that it expects a steady rise in cruise ship calls and passengers over the remainder of the year.

 
Market Talk: 

Wood Group's Order Book Signals Good Momentum

0839 GMT - Wood Group's first-half results are toward the bottom end of expectations, and full-year revenue guidance looks lower than anticipated, but its $7.7 billion order book signals good momentum and underpins its positive outlook for 2022, RBC Capital Markets says. The order book has increased 18% since the end of 2020, with growth in both consulting energy transition opportunities and the projects division, RBC notes. However, shares in the consulting and engineering company fell 3.1% as net debt was also higher than guided. (jaime.llinares@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

08-24-21 0610ET

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