The FTSE 100 rose modestly on Tuesday, partially recovering from losses on Monday. London's blue-chip index closed 0.2% higher at 7,087.55. Construction companies such as Ferguson, CRH and Persimmon led the gains. "Housebuilders were in demand after new figures from Nationwide revealed that U.K. house prices grew at their fastest annual pace for more than 17 years in June," Russ Mould from AJ Bell said. Just Eat Takeaway rose 3.9% and was the top gainer of the session, while Polymetal was the worst performer, as its shares dropped 3.3%, mirroring a weaker gold price. 


 
Companies News:

D4t4 Solutions FY21 Pretax Profit Fell; Early FY22 in Line With Views

D4t4 Solutions PLC said Tuesday that its fiscal 2021 pretax profit slipped despite a rise in revenue, but performance in fiscal 2022 to date has been in line with its expectations.

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nmcn PLC Trading Halted Pending 2020 Accounts

nmcn PLC said Tuesday that trading in its shares has been temporarily suspended as the company won't be able to publish its 2020 accounts by the June 30 deadline.

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Infrastructure India Subsidiary Agrees to Loan Restructuring

Infrastructure India PLC said Tuesday that its subsidiary Distribution Logistics Infrastructure Ltd. has agreed to revised terms with banks on its aggregate 71.5 million-pound ($99.3 million) loans, giving it flexibility to respond to the effects of the pandemic.

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Supply@Me Capital Closes Deal With an Italian Banking Group and Its Fintech Bank

Supply@Me Capital PLC said Tuesday that it has entered into an agreement with an Italian banking group and its fintech bank to execute a first inventory monetization transaction involving a portfolio of Italian client companies.

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REACT Group Shares Fall on Soft Start to 2H 2021

Shares in REACT Group PLC fell on Tuesday after the company said that it has experienced some softness in its reactive business at the start of the second half of fiscal 2021 as the U.K. moves out of lockdown.

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Revolution Beauty Plans to Float on London's Junior AIM

Revolution Beauty Group PLC said Tuesday that it plans to float on London's junior AIM next month.

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daVictus Suspends Trading Until Publication of Audited Results

daVictus PLC said Tuesday that it has suspended trading on the London Stock Exchange until it is able to post its audited results for 2020, which it said should be published by no later than July 31.

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Aukett Swanke Shares Fall on 1H 2021 Swing to Pretax Loss

Aukett Swanke Group PLC shares fell Tuesday after the company said that it swung to a pretax loss for the first half of fiscal 2021 and that revenue dropped in the period.

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Private-Equity Investor Bridgepoint Plans London IPO

Private-equity investor Bridgepoint on Tuesday outlined plans for a potential initial public offering on the main market of the London Stock Exchange, and said that it intends to raise around 300 million pounds ($416.5 million).

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CC Capital Doesn't Intend to Make Offer for IWG PLC

CC Capital Partners said Tuesday that it doesn't intend to make an offer for IWG PLC.

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Bank Norwegian to Sell Defaulted Danish Loans to UK's Lowell Group

Norwegian internet bank Bank Norwegian AS said Tuesday that it has agreed to sell its Danish portfolio of defaulted installment loans to U.K.-based credit management company Lowell Group.

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Edenville Energy Posts Narrowed 2020 Loss

Edenville Energy PLC on Tuesday reported a narrowed loss for 2020, as costs were reduced.

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Rockhopper Exploration Notes Minority Opposition to AGM Resolutions

Rockhopper Exploration PLC's shareholders cast significant minority votes against several resolutions at the company's annual general meeting on Tuesday. 


 
Market Talk:

Cruise Sell-Off Could be Good Opportunity for Royal Caribbean: Stifel

0830 ET - Monday's sell-off in cruise stocks could've been a function of "confusion" around Carnival's announcement of a stock swap, according to Stifel. There could have also been the thought that it was another round of equity dilution, which Stifel says isn't, as well as fears around Covid-19 variants. Based on Stifel's meeting with Royal Caribbean Group's management, Stifel says it sees the recent sell-off in cruise stocks as a good buying opportunity as the company restarts operations in North America. Stifel says the chances of Royal Caribbean raising more equity or debt have also been "mostly removed" along with the restart.

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Hunting's Expected 1H Ebitda Loss Seen Hurting Full Year Numbers

1153 GMT - Hunting is set to post a below-expectations 1H Ebitda loss, which should in turn bring about an around 20% downgrade to full-year Ebitda, says UBS. Although the energy-services company expects 2021 Ebitda to be above the $26 million posted for 2020, it would be below previous company estimates, which were close to consensus of $40 million and UBS estimates of $35 million. "Hunting shares have underperformed Europe oilfield services peers by about 3% in the month leading up to today, but given the magnitude of the downgrades to 2021, we expect a negative reaction," the bank says. UBS rates the stock neutral with a 230 pence target price. Shares are down 2.5% at 239 pence.

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IG Group Has Substantial Growth Opportunities, Numis Says

1102 GMT - IG Group Holdings' share price is cheap for all the growth potential it has, Numis says. The online trading company is forecast to generate double-digit compound earnings per share growth over the next two years, boosted by significant growth opportunities, Numis says. These include a GBP1 billion revenue opportunity in Japan and a GBP1.1 billion revenue opportunity in the U.S., the U.K. brokerage adds. "Even if IG is only able to secure less than 5% of the opportunities, IG investors would be looking at mid-teens compound revenue growth," Numis says, noting the company's completion of the acquisition of Tastytrade. Shares are up 1.7% at 849.50 pence.

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Vestas Shares Should Find Support From Catalysts in 2H

1048 GMT - JPMorgan Cazenove upgrades Vestas to neutral from underweight after shares have underperformed the STOXX Europe 600 Industrial Goods & Services Index by around 35% year-to-date and as catalysts in 2H should support the share price despite weak onshore fundamentals. The bank believes medium-term raw material headwinds and limited onshore growth still aren't reflected by consensus but are well understood by investors. However, heading into 2H, the bank expects the deployment of green deal funds and subsector renewable targets in the EU, the likely extension of U.S. tax credits and progress on the Biden infrastructure plan, the COP26 summit, upgrades to German renewable targets and the U.K. CFD auction for renewable energy investments to act as catalysts for the shares. JPM Cazenove lifts its target price on the stock to DKK190 from DKK136.

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Clarkson to Benefit From Global Trade Recovery, Green Transition

1006 GMT - Demand for Clarkson's shipping services is rising as global trade recovers from the pandemic and newbuild order books climb in response to higher charter rates from the lowest level in decades, Peel Hunt says. In addition, the shift to alternative technologies and mandatory emissions reporting should increase demand for the group's services further, the brokerage says. "The group already supports the offshore renewables industry, but is likely to see a further increase in demand from the shift to alternative fuelled ships." Peel Hunt initiates coverage of Clarkson with a buy rating and a 4,000 pence target price.

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UK Consumers Start Borrowing Again as Lockdown Eases

0956 GMT - U.K. consumers borrowed more for the first time since August 2020 in May, Laith Khalaf, financial analyst at AJ Bell says commenting on Bank of England data. "Borrowing is on the rise, and savings are falling back, as the lifting of social restrictions has prompted consumers to reach for their wallets," he says. Money placed by households into deposits fell to GBP7 billion in May, compared with an average of GBP16.5 billion in the six months to April 2021. Since the easing of some lockdown restrictions on May 17, "hospitality and leisure businesses have been in fuller swing, so we can expect spending trends to have accelerated since then," he adds.

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Petrofac's EPS Outperformance Offset by Depressed E&C Business

0945 GMT - Petrofac's update suggested first-half results in line with the forecasts of UBS, the Swiss bank says. The company's engineering & production services outperformance is to be offset by lower-than-expected revenue in engineering & construction, UBS says. The provider of services to the energy industry now sees a E&C tendering pipeline of $48 billion for the remainder of 2021 and 2022, down from the $54 billion reported in April for the next 24 months, UBS says. "During the analyst call, management acknowledged that while the industry awards have been depressed because clients defer awards, Petrofac was hit further because it continues to be suspended from Saudi Arabia and UAE," UBS says.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

06-29-21 1204ET