The FTSE 100 closed up 0.2% as investors continued to cheer the reversal of the U.K. government's unfunded tax-cut plans, as well as positive 3Q numbers from U.S. bank Goldman Sachs, which point to further upbeat corporate reports. "Markets are clearly more optimistic after the U.K.'s missteps provided a stark warning that an expansionary government stance would simply prolong the crisis if pitched against a central bank seeking to drive down inflation," IG analyst Joshua Mahony says in a note. Smurfit Kappa was the session's biggest riser, up 6.3%, followed by Rolls-Royce Holdings and DS Smith, both up 3.8%. Harbour Energy was the day's biggest faller, down 4.4%, followed by Centrica and Segro, down 4.1% and 2.1% respectively. 


 
Companies News:

THG Shareholder SoftBank Sells Entire Shareholding for GBP31.4 Mln

THG PLC said late Monday that SoftBank Corp. has sold its entire interest in the company to Qatar Holding LLC and THG's Chief Executive and founder Matthew Moulding for 31.4 million pounds ($35.7 million).

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Ninety One's Assets Under Management Fell in 2Q

Ninety One PLC said Tuesday that its assets under management for the second quarter of fiscal 2023 decreased when compared with the previous quarter.

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Aveva Sees 1H Revenue Decline Amid Cost Increases

Aveva Group PLC said Tuesday that revenue for the first half of fiscal 2023 declined by a low-single-digit rate on year on an organic constant currency basis as costs increased significantly against the first half of the prior year, which was affected by Covid-19.

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FinnCap Gets Takeover Approach From Panmure Gordon; In Early Stage Talks

finnCap Group PLC said Tuesday that it has received a takeover approach from Panmure Gordon Group Ltd. and that talks between the companies are at an early stage.

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Moneysupermarket.com 3Q Revenue Rose; Sees 2022 Ebitda at Upper End of Market Views

Moneysupermarket.com Group PLC on Tuesday reported a 33% rise in third-quarter revenue and said it is guiding for Ebitda to be toward the upper end of market expectations for the year.

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Revolution Bars Delays Accounts Due to Substantial Transaction

Revolution Bars Group PLC said Tuesday that it is in the final stages of a "substantial transaction," and that its fiscal 2022 accounts will therefore be delayed at this time.

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888 Holdings 3Q Revenue Fell Following Netherlands Exit, Increased UK Player Safety Measures

888 Holdings PLC said Tuesday that third-quarter revenue fell on a pro forma basis following the acquisition of the international business of William Hill, primarily driven by enhanced U.K. online player safety measures and the closure of the Netherlands business.

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Bellway FY 2022 Pretax Profit Fell on Higher Provisions; Sees Demand Moderating

Bellway PLC said Tuesday that its pretax profit fell in fiscal 2022 due to increased safety provisions though revenue rose, and it has seen demand moderate going into fiscal 2023.

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Wise Upgrades FY 2023 Views After 2Q Revenue Rose 60%

Wise PLC said Tuesday that it has again upgraded its fiscal 2023 guidance, citing robust revenue growth during the second quarter.

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Advanced Oncotherapy Raises GBP6 Mln via Premium Subscription by Shareholder

Advanced Oncotherapy PLC said Tuesday that it is raising 6 million pounds ($6.8 million) via a premium share subscription by one of its largest shareholders, and will use the money to support its operations.

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CyanConnode Holdings Raises GBP500,000 for Working Capital Purposes

CyanConnode Holdings PLC said Tuesday that it has raised 500,000 pounds ($567,950) via a share subscription with an existing shareholder, and will use the money for working capital purposes.

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Ibstock Sees 2022 Performance Ahead of Views After Strong 3Q

Ibstock PLC said Tuesday that it expects performance for 2022 to be above its previous expectations after the third quarter was ahead amid robust demand patterns and strong operational performance.

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Sosandar Sees FY 2023 in Line With Views Following Robust 1H

Sosandar PLC said Tuesday that performance for fiscal 2023 is in line with expectations, backed by robust revenue and a profit increase during the first half.

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Lookers Lifts 2022 Profit Guidance; To Launch Buyback

Lookers PLC said Tuesday that its underlying pretax profit for the full year is expected to be materially ahead of its previous views, and said it will launch a share buyback program.

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PageGroup Names Nick Kirk as Chief Executive

PageGroup PLC said Tuesday that it has appointed Nick Kirk as its next chief executive, replacing Steve Ingham who is stepping down on Dec. 31.

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Angle to Close Canadian Facilities to Increase Cash Runway

Angle PLC said Tuesday that it plans to close its Canadian facilities, to streamline its operations and increase its cash runway.

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Mind Gym Sees 1H Revenue Rise on Growth, Strong Dollar

Mind Gym PLC said Tuesday that it expects to report a rise in first-half revenue after booking underlying growth in the U.S. and benefiting from the recent strengthening of the dollar.

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Up Global Sourcing Renews Russell Hobbs Trademark

Up Global Sourcing Holdings PLC said Tuesday that it has renewed its trademark license agreement with Spectrum Brands Holdings Inc., granting an exclusive license to use the "Russell Hobbs" trademark for nonelectrical kitchen and laundry products.

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Capital Ltd 3Q Revenue Rose on Robust Demand

Capital Ltd. said Tuesday that revenue for the third quarter rose on continued robust demand across blue-chip portfolio customers.

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IntegraFin Holdings 4Q Funds Under Direction Fell on Market Volatility

IntegraFin Holdings PLC said Tuesday that funds under direction for the fourth quarter of fiscal 2022 fell amid volatile markets, but performance has been resilient.

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Saietta Sees Positive Momentum, FY 2023 Revenue Soaring; Shares Rise

Saietta Group PLC shares rose Tuesday after it said it has seen significant positive momentum, and it expects revenue to greatly increase in fiscal 2023. 


 
Market Talk:

Moneysupermarket's Momentum Looks Set to Stay Strong

0950 GMT - Moneysupermarket.com Group rises 7% after the price-comparison site reported higher third-quarter revenue and forecast annual underlying earnings toward the upper end of market expectations. While Moneysupermarket is benefiting as cash-strapped consumers hunt for better deals on financial products such as credit cards, the energy-switching market has effectively shut up shop temporarily and weaker consumer sentiment has reduced demand for travel insurance, AJ Bell says. Still, the net effect is in Moneysupermarket's favor, Bell says. "Newspapers and mainstream news websites are full of stories giving personal-finance tips and a large majority will recommend shopping around for better deals," Bell's investment director Russ Mould writes. "Therefore, one might expect sales momentum to remain strong for Moneysupermarket well into 2023." (philip.waller@wsj.com)

Dechra Has Potential to Resist Macro Headwinds

0916 GMT - Dechra Pharmaceuticals is well-positioned for the medium-term and has been previously undervalued as it shifts to increasing innovation, Jefferies analysts say in a research note. Although the veterinary pharmaceutical company's recent acquisitions are dilutive to near-term profitability, the group has potential business resilience even when considering exposure to significant macro headwinds, they note. The analysis on the sector's exposure shows value and attractive risk and reward signals for Dechra, they add. Jefferies upgrades its rating on the stock to buy from hold and raises the price target to 3,112 pence from 2,880 pence. (michael.susin@wsj.com)


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


(END) Dow Jones Newswires

10-18-22 1241ET