The FTSE 100 closed up 0.8% today boosted by the latest inflation data coming in from the U.S. ahead of Wednesday's key Federal Reserve meeting. "The fact that we have seen a relatively widespread decline in inflation that is not solely reliant on volatile energy prices does provide greater confidence for the bulls, with house rents providing the one aspect which is yet to reverse," IG analyst Joshua Mahony said in a note. Intermediate Capital Group was the day's biggest riser, up 5.7%, followed by Ocado Group and Antofagasta, up 4.6% and 4.1% respectively. Rolls Royce Holdings was the session's biggest faller, down 2.4%. 


 
Companies News:

InterContinental Hotels Names Michael Glover as New Incoming CFO

InterContinental Hotels Group PLC said Tuesday that Michael Glover will take over the role of chief financial officer, joining the role and the board from March 20 and succeeding Paul Edgecliffe-Johnson.

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Capita Sees 2022 Performance in Line With Views, Lower Debt on Disposals

Capita PLC said Tuesday that performance for 2022 is in line with expectations, backed by revenue growth and a strengthened balance sheet.

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Chemring FY 2022 Pretax Profit Rose, New Fiscal Year Started Well

Chemring Group PLC said Tuesday that its fiscal 2022 pretax profit rose on strong performance in both of its segments, and the new fiscal year has begun in line with its expectations.

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FRP Advisory Group 1H Pretax Profit Slips on Exceptional Costs

FRP Advisory Group PLC on Tuesday reported a slight drop in pretax profit for the first half of fiscal 2023 due to exceptional costs, a higher payment charge and new locations, and declared a dividend for the period.

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Sosandar Sees FY 2023 Performance in Line With Market Views, Swung to 1H Profit

Sosandar PLC said Tuesday that it expects to deliver fiscal 2023 performance in line with market expectations, driven by a robust revenue growth momentum that has continued into the second half.

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Hyve Group FY 2022 Pretax Loss Widened on Higher Costs; Revenue Rose

Hyve Group PLC said Tuesday that its pretax loss widened in fiscal 2022 on higher finance costs, though revenue rose.

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Begbies Traynor Confirms Rise in 1H Pretax Profit, Revenue

Begbies Traynor Group PLC on Tuesday confirmed Novermber preliminary figures showing increases in pretax profit and revenue for the first half of fiscal 2023.

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React Optimistic for FY 2023 on Strong Start to Year

React Group PLC said Tuesday that performance in the last three months of fiscal 2022 and the beginning of the new year have been particularly strong, underpinning a positive outlook for fiscal 2023.

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Avation Sees Return to Growth Through Aircraft Acquisitions

Avation PLC said Tuesday that it is optimistic about the long-term opportunity for air travel, particularly in new technology low carbon dioxide emission aircraft, and that it intends to return to growth through opportunistic aircraft acquisitions and deliveries from its orderbook.

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Shield Therapeutics to Raise Up to GBP18.6 Mln to Boost Finances, Accrufer Growth in US

Shield Therapeutics PLC said Tuesday that it is seeking to raise up to 18.6 million pounds ($22.8 million) via a share placing and subscription and open offer, to provide it with extra finances to accelerate the revenue growth of Accrufer in the U.S.

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Gresham Technologies Sees 2022 Revenue, Adjusted Ebitda Beating Market Views

Gresham Technologies PLC said Tuesday that it expects 2022 revenue and adjusted Ebitda to exceed recently upgraded market expectations.

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John Lewis of Hungerford FY 2022 Pretax Profit Fell Amid Higher Costs

John Lewis of Hungerford PLC said Tuesday that pretax profit for fiscal 2022 fell amid increased costs, and that performance for the new fiscal year remains uncertain given the economic backdrop.

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Dianomi PLC Shares Dive on Profit Warning

Shares of Dianomi PLC fell as much as 21% on Tuesday after the company said that adjusted Ebitda for the year is expected to miss market forecasts and be around half of that reported for 2021.

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Synectics Sees FY 2022 Underlying Profit Beating Market Views

Synectics PLC said Tuesday that it expects underlying profit for fiscal 2022 to slightly exceed market expectations, with second half profit expected to be higher than the first half.

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Global Ports Holding 1H Pretax Loss Narrows

Global Ports Holding PLC on Tuesday said that its first-half pretax loss narrowed, boosted by strong recovery across its ports and cruise operations.

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Vector Capital Sees 2022 Meeting Market Views, But Makes Debt Provision

Vector Capital PLC said Tuesday that it expects 2022 revenue, pretax profit and the year-end aggregate loan book to meet market expectations, but will make a provision for doubtful debts.

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finnCap Swung to 1H Pretax Loss on Lower Revenues; Scraps Dividend

finnCap Group PLC on Tuesday reported a swing to a pretax loss for the first half of fiscal 2023, hit by lower investor confidence and reduced equity capital market activity after record performance last year, and said that it won't be paying an interim dividend for the period.

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Synthomer To Sell Non-Core Assets to Surteco For $255 Mln

Synthomer PLC on Tuesday said it has agreed to sell its laminates, films and coated fabrics businesses to Surteco North America, Inc. for a total enterprise value of $255 million payable in cash.

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Morses Club Progresses Liability Agreement; Proposes Equity Issue

Morses Club PLC said Tuesday that it has issued a practice statement letter to creditors, a significant step in progressing a potential agreement to manage continued liability, and proposed an equity issue for a compensation fund.

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CT Automotive CFO David Wilkinson to Step Down in April

CT Automotive Group PLC said Tuesday that Chief Financial Officer David Wilkinson will step down from the company for personal reasons and intends to leave on April 30.

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Caerus Mineral Resources to Buy 90% of EV Metals' Saudi Subsidiary

Caerus Mineral Resources PLC said Tuesday that it has entered into an exclusive agreement with EV Metals Group PLC to buy 90% of its Saudi Arabia subsidiary RIWAQ Al Mawarid for Mining.

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Churchill China's Finance Director David Taylor to Leave

Churchill China PLC said Tuesday that finance director and company secretary David Taylor will step down effective April 12 after the annual general meeting.

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Conviction Life Sciences Extends IPO Issue Date to January

Conviction Life Sciences Company Ltd. said Tuesday that it plans to extend the final date for its initial issue and flotation on the London Stock Exchange to Jan. 31, from Dec. 13.

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Serabi Gold Swings to 1H Pretax Loss; Shares Drop

Serabi Gold PLC shares fell as low as 12% on Tuesday after the company reported a swing to pretax loss for the third quarter of the year due to lower sales volume and gold price.

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Hedge-Fund Bets Give Boost to Huge Texas Teachers' Pension -- WSJ

By Juliet Chung and Heather Gillers

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Edenville Energy Defends Against Unfair Dismissal Claim

Edenville Energy PLC said Tuesday that it has successfully defended itself from a claim by former employees relating to unfair dismissals as a result of the coronavirus pandemic.

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UniVision Engineering Receives Winding Up Petition; Finance Director Resigns

UniVision Engineering Ltd. said Tuesday that it has received a winding up petition brought by one of its equipment suppliers Synnex Technology International (HK) Ltd., and that its financial director resigned.

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Avation's Airline Servicing, Repairs Business Still Hurt by Reduced Staff; Shares Fall -- Update

Shares in Avation PLC fell Tuesday after it said its airline servicing and repairs business continued to be hurt by reduced personnel but that it expected these services to improve to prepandemic levels during 2023.

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Wave, GSK Enter Strategic Collaboration -- MarketWatch

Shares of Wave Life Sciences Ltd. jumped about 17% in premarket trading on Tuesday after the company announced a four-year strategic collaboration with GlaxoSmithKline to develop oligonucleotide therapeutics. Wave is already testing WVE-006, an experimental oligonucleotide treatment, for alpha-1 antitrypsin deficiency, a genetic disease that causes liver and lung disease, in preclinical research. GSK will make a $170 million upfront payment to Wave in cash and equity, with up to $525 million in potential milestone payments for the WVE-006 program and up to $375 million in potential milestone payments for the other programs. Wave's stock is up 14.9% year-to-date, while the S&P 500 is down 16.2%. 


 
Market Talk:

BOE Could be Among First to End Rate-Rise Cycle

1318 GMT - The Bank of England was the first major central bank to start raising interest rates and it's likely to be among the first to bring the process to a close, UBS Global Wealth Management says in a note. The BOE could raise rates by a smaller 50 basis points on Thursday and signal that the pace of future rate rises will slow further, UBS economist Dean Turner says. "Market expectations are for U.K. rates to peak around 4.5% by the middle of next year," he says. "In our view, the peak is likely to be lower at 4.25% by March." This assumes the BOE will lift rates another 50bp in February and 25bp in March, Turner says. (renae.dyer@wsj.com)

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BP Is Topping Hopes, But Caution Is Still Advised

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12-13-22 1249ET