FTSE 100 Closes Thursday Down on Further US -2-

Landore Resources said Thursday that its chairman and chief executive officer intend to step down.

---

Sutton Harbour Raises GBP2.9 Mln in Direct Subscription; 2H Met Management Views

Sutton Harbour said Thursday that it has raised around 2.9 million pounds ($3.6 million) in a direct subscription and that business in the second half of the year has met management views.

---

Forward Partners 2022 Portfolio Fair Value Fell Amid Turbulent Macroeconomic Conditions

Forward Partners Group said Thursday that its portfolio fair value fell in 2022 as it faced significant headwinds, driven mainly by turbulent macroeconomic conditions.

---

Let's Explore 2022 Pretax Loss Widened; to Return $12.5 Mln via Tender Offer

Let's Explore Group said Thursday that its 2022 pretax loss widened after booking higher costs, and that it would return around 12.5 million pounds ($15.7 million) to shareholders via a tender offer.

---

Circle Property Shares Fall After Sale of Asset to Portman Finance Group

Shares in Circle Property fell on Thursday after the company said has completed the sale of its final remaining asset to Portman Finance Group for 2.85 million ($3.6 million).

MARKET TALK:

Domino's Pizza Momentum Looks Strong After Solid 1Q

1251 GMT - Domino's Pizza Group shares rise 0.9% to 304 pence after the U.K. takeaway chain reported record first-quarter orders, flagged an encouraging start to 2Q and announced a GBP20 million share buyback. The company's 1Q performance was solid and its accelerating volumes are impressive and should be taken positively, Barclays says. "Momentum looks strong overall, with growth in app usage, a building store pipeline from a broad range of 30 franchisees and a new GBP20 million buyback," Barclays analysts write, reiterating their over-weight rating and 345 pence price target on the stock. ([e-mail])

---

IMI Had Strong 1Q, FY Outlook Looks Conservative

1251 GMT - IMI shares rise 2% to 1634 pence after the U.K. engineering company increased its full-year earnings-per-share guidance and said it was still confident about hitting growth and operating-margin targets. RBC Capital Markets says it's raising its full-year earnings per share forecast by 3%, given that IMI now expects low double-digit growth in its critical engineering business due to a rise in first-quarter orders, rather than the high single-digit gains previously expected. The 1Q results were strong and the company's full-year outlook still looks conservative, RBC analysts say in a note, reiterating the brokerage's outperform rating and increasing the price target on the stock to 2150p from 2000p. ([e-mail])

---

Trainline Shares Steam Ahead After Upbeat FY Results

1220 GMT - Trainline shares rise 14% after the online rail-ticket retailer reported higher annual revenue and adjusted earnings than a year ago. The company's expansion in mainland Europe has been a good move, particularly given that many countries on the continent have better rail networks and cheaper tickets than in the U.K., thereby encouraging more people to take the train, AJ Bell says. "Trainline must continue to prove it can be more than just a simple ticketing platform by offering innovative features, like flagging cost savings through splitting your journey into multiple tickets that cost less in total than one ticket for the whole route," Bell's investment director Russ Mould writes. ([e-mail])

---

Johnson Service Group Looks Well-Placed to Prosper

1218 GMT - Johnson Service Group is gaining momentum, Panmure Gordon says following an update from the U.K. textile-services provider. Johnson reported higher revenue in the first four months of the year and forecast full-year operating profit slightly ahead of market expectations, though it said it still expects energy costs to have an increased revenue impact this year. The update was encouraging and confirms that Johnson continues to gain momentum, with 2023 being the first year since 2019 not affected by the coronavirus pandemic, Panmure Gordon says. "We continue to argue Johnson's scale and operating leverage means it's well placed to capitalize on increased volumes," Panmure analyst Andy Smith writes, reiterating the brokerage's buy recommendation and 150 pence price target. Shares rise 0.7% to 122p. ([e-mail])

---

Spirent's Positive Comments Seen Helping Stock

1207 GMT - Spirent's first-quarter year-on-year revenue was down 20% with an orderbook decline from a record year-end of $288 million, UBS analysts Francois-Xavier Bouvignies and Harry Blaiklock say in a note. The company's guidance remains unchanged and it expects a materially heavier weighting to the second half, supported by an increasing pipeline and year-to-date customer engagement, the analysts say. Lower 1Q sales revenue is likely to weigh on share prices today, the analysts say. "However, we believe company comments remain constructive/positive which could partially offset this," they say. UBS rates the stock buy and has a 244 pence target price. Shares are up 0.1% at 177.10 pence. ([e-mail])

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

05-04-23 1217ET