The FTSE 100 closed down 0.48% Monday in a lackluster start to the week, as optimism around China easing coronavirus-related restrictions gave way to the reality that any reopening is unlikely to happen quickly. The index's underperformance primarily reflects healthcare sector slides, as GSK reported that its Blenrep blood cancer drug trial failed to meet its primary endpoint, CMC Markets UK chief market analyst Michael Hewson says in a market comment. "This was the second disappointment in the space of a month after the failure of its rheumatoid arthritis drug Otilimab at the end of last month, and has seen the shares drop sharply," Hewson says. Sentiment has also been cautious ahead of tomorrow's U.S. midterm elections and the latest CPI report later this week, Hewson adds. 


 
Companies News:

Croda International Finance Director Jez Maiden to Retire; Appoints Louisa Burdett Successor

Croda International PLC said Monday that Group Finance Director Jez Maiden will retire in 2023 and Louisa Burdett has been appointed as his successor and will join the board on Jan. 1.

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Kingspan 3Q Sales Jumped; 2022 Trading Profit Seen Higher on Year

Kingspan Group PLC said Monday that sales rose significantly in the third quarter of the year and that it expects trading profit to be ahead of the prior year.

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Joules's Three-Month Performance Missed Board Expectations Amid Challenging Backdrop

Joules Group PLC said Monday that its performance for the 11 weeks to Oct. 30 missed the board's expectations, driven by the economic backdrop impact on consumer confidence and lower-than-expected ecommerce sales as the group proceeds on its turnaround plans to reduce costs.

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PayPoint to Buy Appreciate Group for GBP83 Mln in Shares and Cash

PayPoint PLC said Monday that it has agreed to buy Appreciate Group PLC for 83 million pounds ($94.4 million) in shares and cash.

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Carclo Appoints Joe Oatley as Nonexecutive Chairman

Carclo PLC said Monday that Nonexecutive Chairman Nick Sanders has stepped down and that Joe Oatley has been appointed to the role.

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Beowulf Mining Nonexecutive Chairman Steps Down; Successor Named

Beowulf Mining PLC said Monday that its nonexecutive chairman, Sven Otto Littorin, has stepped down effective immediately.

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B90 Holdings Chairman Karim Peer Steps Down; Calls off General Meeting

B90 Holdings PLC said Monday that Executive Chairman Karim Peer and Nonexecutive Director Nigel Eastwood are stepping down from the board with immediate effect, and that the requisitioning shareholders have withdrawn the request for a general meeting to remove them.

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Synectics to Appoint Craig Wilson as Nonexecutive Chairman, Replacing David Coghlan

Synectics PLC said Monday that it will appoint Craig Wilson as non-executive chairman, replacing David Coghlan.

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Asiamet Resources Places GBP2.6 Mln in Shares to Delta Dunia Makmur

Asiamet Resources Ltd. said Monday that PT Delta Dunia Makmur Tbk has subscribed for 2.6 million pounds ($3.0 million) in shares, with proceeds to be used toward the BKM copper project in Indonesia. 


 
Market Talk:

Next Could Be Playing the Waiting Game With Joules

1154 GMT - Next might be biding its time in its pursuit of Joules and could sweep in at the opportune moment, AJ Bell investment director Russ Mould says in a note. The U.K. lifestyle brand's disappointing sales of jumpers and coats given mild weather has been disastrous as it struggles to get back on track, he says. Next pulled out of investment talks in September and discussions to raise funds continue, with founder Tom Joule an option, Mould says. "Next might have taken a page out of Mike Ashley's playbook--wait in the wings in case the target goes into administration and then pick up the brand on the cheap," Mould adds. Joules' shares are down 25% on Monday and 95% in the last 12 months. (michael.susin@wsj.com)

Flutter Entertainment 3Q Update to Show Strong FanDuel Performance

1147 GMT - Flutter Entertainment should show a continuing remarkably strong performance from FanDuel in its third-quarter trading update after the U.K. company won an arbitration in relation to Fox's option over an 18.6% stake, Peel Hunt analysts say in a research note. The ruling implies a $22 billion valuation for FanDuel and it also removes the risk of value leakage, they say. The FTSE 100 gambling group should also highlight the potential upside for recently acquired Sisal in Italy, they note. Peel Hunt has a buy rating on the stock with a target price of 16,000 pence. Shares trade up 3.0% at 11,855.00 pence. (kyle.morris@dowjones.com)


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

(END) Dow Jones Newswires

11-07-22 1205ET