The FTSE 100 closed Thursday down 1.1%, as central bank rate hikes took a back seat to a renewed crisis in U.S. bank stocks, prompting additional losses in stocks. The Federal Reserve and the European Central Bank might go on hiking rates, but the renewed crisis in U.S. regional banks is the main reason for the firmly "risk-off" tone to today's session, IG Group PLC chief market analyst Chris Beauchamp said in a research note. "Crashes in oil and regional bank stocks are driving the flight to safety trade across the globe, and unsurprisingly worries about the banking system mean that gold is in high demand once again," Beauchamp said.
COMPANIES NEWS:
Mondi 1Q Earnings Fell on Lower Prices, Weaker Demand
Mondi said Thursday that earnings fell in the first quarter of the year on lower average selling prices and soft demand.
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Next's 1Q Sales Fell, Backs FY 2024 Views
Next PLC said Thursday that full-price sales decreased in the first quarter of fiscal 2024, although it said it did better than feared, and backed its full-year pretax profit views.
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Shell 1Q Earnings Exceeded Market Views; Declares $4 Bln Share Buyback
Shell said Thursday that earnings fell on quarter for the first quarter of 2023 but beat market expectations, and declared a $4 billion share buyback program.
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Endeavour Mining Backs 2023 Views After 1Q Production Fall
Endeavour Mining backed its full-year targets on Thursday despite reporting a fall in gold production during the first quarter.
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Hargreaves Lansdown 3Q Revenue Grew on Net Interest Margin Rise
Hargreaves Lansdown said revenue rose 28% in the third quarter of fiscal 2023 on rising net interest margin, but that assets under management fell.
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Trainline Swung to FY 2023 Pretax Profit on Higher Ticket Sales Amid Pandemic Bounceback
Trainline said Thursday that it swung to a pretax profit in fiscal 2023 on significantly higher ticket sales as it bounced back from the effects of the Covid-19 pandemic.
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Glanbia Raises and Extends Its Buyback Program
Glanbia said Thursday that it has increased and extended its existing share buyback program of up to 50 million euros ($55.3 million) to EUR100 million.
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Virgin Money UK Raises FY 2023 Net Interest Margin Guidance
Virgin Money UK PLC on Thursday upgraded its net interest margin guidance for fiscal 2023 as it posted a fall in pretax profit for the first half of the year due to an impairment charge.
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Domino's Pizza 1Q Orders Rose; Launches GBP20 Mln Share Buyback
Domino's Pizza Group said Thursday that business in the first quarter was strong, with orders rising on year despite a robust comparative period and unveiled a new 20 million pound ($25.1 million) share buyback.
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Grafton 1Q Revenue Rose; Launches GBP50 Mln Buyback Program
Grafton Group said Thursday that first-quarter revenue rose in line with its expectations, and that it plans to launch a buyback program of up to 50 million pounds ($62.8 million).
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600 Group CFO Neil Carrick Departs With Immediate Effect
600 Group PLC said Thursday that Chief Financial Officer Neil Carrick has left the company with immediate effect.
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Spirent Communications 1Q Revenue Fell 20%; Customer Order Delays Continue
Spirent Communications said Thursday that revenue for the first quarter fell 20% and that customer order delays in the period continued.
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SIG Backs 2023 Views After 4-Month Revenue Increased on Higher Prices
SIG backed its full-year guidance on Thursday after reporting a performance for the four months in line with expectations.
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Glanbia Lifts 2023 EPS Guidance Despite 1Q Revenue Decline
Glanbia said Thursday that revenue declined in the first quarter, but that it lifted its full-year guidance for earnings per share as a result of improved margin outlook in the performance nutrition unit.
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AIB Group Raises 2023 Guidance on Interest-Rates Boost
AIB Group PLC on Thursday raised its full-year guidance as a higher interest-rate environment led to a jump in its first-quarter income.
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Morgan Sindall Says 1Q and 2023 Performance in Line With Views
Morgan Sindall Group said Thursday that its performance for the first quarter has been as expected and full-year performance will be in line with the board's views.
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Rathbones 1Q Funds Under Management and Administration Rose Slightly
Rathbones Group on Thursday said its total funds under management and administration rose slightly over the first quarter and that it is on track to meet its operating margin targets.
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Derwent London 1Q Letting Activity Rose, Vacancy Improved
Derwent London PLC said Thursday that first-quarter letting activity rose on year, and that its vacancy rate improved.
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Johnson Service Sees 2023 Profit Ahead of Views, Four-Month Revenue Jumps
Johnson Service Group said Thursday that it expects to report a full-year profit slightly ahead of current market expectations after reporting a sharp increase in revenue during the first four months.
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Merit Group Shares Surge as FY 2023 Seen Beating Market Expectations
Shares in Merit Group jumped on Thursday after the company said it expects to book adjusted earnings 20% ahead of market expectations in the year ended March 31.
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Mothercare Shares Fall After FY 2023 Results Were Lower on Suspended Russia Activity
Shares in Mothercare fell 20% on Thursday after the company said it sees its core earnings in fiscal 2023 lower than the previous year given it saw no contribution from its suspended sales and activities in Russia.
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Alphawave IP CFO Daniel Aharoni to Step Down
Alphawave IP Group said Thursday that Chief Financial Officer Daniel Aharoni has decided to step down following the publication of the company's audited 2022 results, expected on or before May 12.
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Virgin Wines Sees FY 2023 Profit Below Market Views After Difficult 3Q
Virgin Wines UK said Thursday its performance in the third quarter has suffered from softened customer sentiment and an increasingly competitive market, and that the company sees full-year pretax profit slightly below market expectations.
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Shares in Zytronic Fall as It Flags Turmoil in Gaming Market
Shares in Zytronic fell Thursday after the company said it will report a fall in revenue for the first half of fiscal 2023 as it has been hit by unexpected and significant turmoil in its gaming market.
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Sound Energy Shares Rise on Higher 2022 Pretax Profit
Sound Energy shares rose on Thursday after the group reported an increase in pretax profit in 2022.
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Great Portland Estates Buys Two London Properties for GBP53 Mln
Great Portland Estates PLC said Thursday that it has acquired two properties in central London for a combined total of 53 million pounds ($66.6 million).
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CT Automotive Shares Fall After 2022 Pretax Loss Seen Wider Than Expected
CT Automotive Group PLC shares traded 8.8% lower on Thursday after the group said it sees a wider full-year pretax loss due to adjustments identified through an audit.
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LSL Property Services to Franchise Entire Estate Agency Network
LSL Property Services said Thursday that its entire owned estate agency network of 183 branches will become franchises, which it said will deliver higher group margins.
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STM Group Shares Fall on Going Concern Warning for Subsidiaries, 2022 Accounts Delay
Shares in STM Group fell Thursday after the company said finalizing its 2022 audits will be delayed as there was a material uncertainty relating to the going concern of two of its life assurance subsidiaries.
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Begbies Traynor Buys BLC No1 for Up to GBP3 Mln
Begbies Traynor Group said Thursday that it has bought chartered surveyors BLC No1 Ltd. for up to 3 million pounds ($3.8 million) to strengthen its regional presence across Eastern England and South Yorkshire.
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Porvair to Buy Ratiolab GmbH, Ratiolab Kft
Porvair said Thursday that it will acquire Ratiolab GmbH and Ratiolab Kft, subject to Hungarian regulatory approval.
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Datalex 2022 Net Loss Widened on Pandemic-Related Restrictions in China
Datalex said Thursday that its 2022 net loss widened on the back of increased costs and due to Covid-19 pandemic-related restrictions in China.
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Personal Group Makes Strong Start to 2023; Names Incoming CEO
Personal Group Holdings PLC said Thursday that it has made a positive start to 2023, and named Paula Constant as its new incoming chief executive officer.
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Liontrust to Buy GAM Holding in CHF107 Mln Deal
Liontrust Asset Management PLC on Thursday said it had conditionally agreed to buy Zurich-listed investment manager GAM Holding AG through a public exchange offer which values the Swiss group at 107 million Swiss francs ($121 million).
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SSP Group Expands North America Presence With Concessions Deal
SSP Group said Thursday that it has bought the concessions business of Midfield Concession Enterprise to expand its presence across North America, adding 40 new units at seven airports, including four new locations.
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IMI 1Q Organic and Adjusted Revenue Rose; Raises 2023 Guidance
IMI said Thursday that organic revenue in the first quarter rose 8%, and 16% on an adjusted basis, and raised its guidance for the year.
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E-Therapeutics FY 2023 Pretax Loss Widened on Higher R&D Costs
E-Therapeutics said Thursday that its pretax loss widened in fiscal 2023 due to higher research and development costs.
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Pollen Street 1Q Assets Under Management Flat
Pollen Street said Thursday that for the first quarter of 2023 its assets under management were flat, but its fee-paying assets under management rose.
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Camellia Swung to 2022 Pretax Loss; Sees Mixed Performance in 2023
Camellia on Thursday reported a swing to pretax loss for 2022 on the back of increased distribution costs and adverse trading conditions and said that performance for 2023 so far has been mixed.
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Landore Resources Chairman, CEO to Step Down
(MORE TO FOLLOW) Dow Jones Newswires
05-04-23 1217ET
