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FTSE 100 Closes Thursday Slightly Down on Poor Performance in Some Sectors

07/28/2022 | 12:30pm EDT

The FTSE 100 closed Thursday down 0.04% following poor performance from the healthcare, telecoms and banking sectors. On the downside, Smith & Nephew PLC shares plunged after reporting a modest decline in trading profits due to a fall in margins, while BT Group PLC was also lower as a 7% fall in enterprise operation revenue prompted concerns over more weakness to come, chief market analyst at CMC Markets U.K. Michael Hewson, says. On the other end of the spectrum, it has been a good day for Shell PLC, who reported another record quarter of profits, though this inevitably raises questions about whether this level can be sustained in the second half, Mr. Hewson says in a research note.

 
Companies News: 

Shell Launches $6 Bln Share Buyback as 2Q Earnings Hit Record High

Shell PLC on Thursday reported a jump in its profits to a record high in the second quarter and announced a share buyback of $6 billion while keeping the dividend unchanged.

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Segro 1H Adjusted Pretax Profit, Revenue Rose

Segro PLC on Thursday reported a rise in first-half adjusted pretax profit and revenue, as the company benefited from high customer demand and low supply.

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Barclays 2Q Pretax Profit Fell Significantly, Missing Market Views; Costs Set to Keep Rising

Barclays PLC reported Thursday a significant decline in second-quarter pretax profit, missing market views, after the U.K. bank booked higher operating costs and impairments which it said are set to continue rising.

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ITV 1H Pretax Profit, Revenue Rose on Strong Performance in Studios, Media & Entertainment

ITV PLC said Thursday that first-half pretax profit and revenue rose as it booked strong performances in the studios and media-and-entertainment divisions.

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St. James's Place Swung to 1H Pretax Loss, Funds Under Management Fell

St. James's Place PLC reported Thursday a swing to a pretax loss for the first half of 2022 and said funds under management declined on the effects of reversals in global investment markets.

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BT Group 1Q Pretax Profit Fell, Adjusted Ebitda Rose

BT Group PLC said Thursday that pretax profit fell in the first quarter of fiscal 2023, but that adjusted Ebitda rose due to flow through from revenue and continued strong cost control.

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Airtel Africa 1Q Pretax Profit Rose 6.5%; To Grow Ahead of Market This Year

Airtel Africa PLC on Thursday reported a 6.5% rise in first-quarter pretax profit and said that it continues to target growth ahead of the market this year.

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Rentokil Initial 1H Pretax Profit Rose on Strong Pest Control and Hygiene Growth

Rentokil Initial PLC said Thursday that pretax profit for the first half of the year rose, driven by a positive performance across its pest-control and hygiene businesses, and that raised its dividend payout.

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Centrica Resumes Dividend as 1H Earnings Jump

Centrica PLC on Thursday reinstated the dividend and reported improved earnings for the first half of 2022.

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Schroders 1H Pretax Profit Slipped; Assets Under Management Rose

Schroders PLC on Thursday reported a fall in pretax profit for the first half of the year, while assets under management rose.

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BAE Systems Appoints Land Securities' Cressida Hogg as Chairman Designate

BAE Systems PLC said Thursday that Land Securities Group PLC's Chairman Cressida Hogg will join its board as chairman designate, with effect from Nov. 1.

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RELX 1H Net Profit, Revenue Rose Amid Strategy Shift

RELX PLC said Thursday that first-half net profit and revenue rose due to its strategy of focusing on the organic development of its analytics and decision tools.

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BAE Systems Launches $1.8 Bln Buyback, 1H Pretax Profit Fell on Higher Costs

BAE Systems PLC said Thursday that it was launching a three-year share buyback of up to 1.5 billion pounds ($1.82 billion) as it reported a fall in pretax profit for the first half of 2022 after booking higher costs.

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Smith & Nephew PLC Sees Fall in 1H Pretax Profit

Smith & Nephew PLC said Thursday that pretax profit fell in the first six months of the year and backed its guidance for the rest of 2022.

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Aveva 1Q Revenue Fell on Constant Currency Basis; Sales Pipeline Solid for FY 2023

Aveva Group PLC said Thursday that revenue on a constant currency basis fell by a mid-single digit rate in the first quarter of fiscal 2023, and that its sales pipeline was solid for the remainder of the fiscal year.

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Diageo FY 2022 Pretax Profit Rose on Robust Sales Growth; Raises Dividend

Diageo PLC on Thursday reported a rise in pretax profit for fiscal 2022 on robust sales growth, although the print missed expectations, and said it has raised its dividend payout.

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Barclays puts GBP1.3bn aside for trading blunder, marring fee surge -- Financial News

Error takes the shine off positive results in trading unit.

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Weir Group 1H Pretax Profit Rose 26%; Hikes Dividend

Weir Group PLC on Thursday reported a 26% rise in pretax profit for the first half of the year and said that it expects headline operating profit to be at the top end of analysts' range for the full year.

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Hammerson Swung to 1H Pretax Profit on Continued Pandemic Recovery

Hammerson PLC said Thursday that it swung to a first-half pretax profit as footfall recovered to near prepandemic levels and costs fell.

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Metro Bank 1H Pretax Loss Narrowed; Monthly Breakeven Seen in 1Q 2023

Metro Bank PLC said Thursday that first-half pretax loss narrowed and that the strategic plan remains on track, with monthly breakeven expected during the first quarter of 2023.

 
Market Talk: 

Centrica Shares Drop Despite Strong 1H

0901 GMT - Centrica shares drop 3% as investors take profits after a strong run for the shares. The owner of British Gas reinstated its dividend, reported improved first-half earnings and said its 2022 full-year outlook remains positive. The results were sound, but the shares have done well lately, analysts say. "In an otherwise challenging year for equities, commodity players have been the standout winners with the geopolitical turmoil providing a tailwind for the sector," Interactive Investor Head of Investment Victoria Scholar writes. "Shares in Centrica have rallied to highs not seen since January 2020 before the start of the pandemic, as the stock continues to go from strength to strength."(philip.waller@wsj.com)

ITV Has Strong 1H, But Ad Revenue Outlook May Weigh

0900 GMT - Shares in ITV rise 2% after the U.K. broadcaster reported higher first-half pretax profit and revenue following strong trading in its studio and media-and-entertainment divisions. "It's been a bit of a rollercoaster ride for ITV shareholders over the past year, but investors will see cause for optimism in today's half-year results," eToro analyst Adam Vettese writes. "It was a strong first half, with the firm's studio, media and streaming divisions all showing decent revenue growth and profits leaping by 64% year-on-year to GBP219 million. ITV predicts total advertising revenue will be flat year-on-year for the first nine months of the year, but the football World Cup, which kicks off in November, should give it a boost." (philip.waller@wsj.com)

BT Has Mixed 1Q, Shares Fall

0808 GMT - BT Group's first quarter broadly matched expectations as weakness in its Enterprise business took the shine off strong trading in its consumer and Openreach network operations, Barclays says. Pretax earnings before interest, depreciation and amortization in consumer and Openreach were better than expected, but EBITDA in the company's Enterprise division, which serves small-to-medium-sized businesses and corporate and public-sector customers, fell short of consensus forecasts, with BT flagging delayed customer spending, Barclays says. Free cash-flow was also below consensus expectations on higher capital spending. "We would expect a modest negative share-price reaction," Barclays analysts say in a note. Shares fall 6%. (philip.waller@wsj.com)

BT Shares Could Be Set for Bullish Breakout, Depending on Resistance Hurdles

0804 GMT - BT Group posted modest revenue growth for the first quarter thanks to improved pricing and trading in consumer and Openreach, Interactive Investor Head of Investment Victoria Scholar says in a note. The British telecommunications group did however note the economic uncertainty and challenges in its enterprise business, she says. "Shares in BT have been mostly stuck in a range lately with 200 pence the next major resistance hurdle with a break above potentially paving the way for a bullish breakout while the next support level to watch on the downside is at 150 pence," Scholar says. BT shares trade down 5.2% at 166.90 pence. (kyle.morris@dowjones.com)


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


(END) Dow Jones Newswires

07-28-22 1216ET

Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC 0.47% 129.2 Delayed Quote.-3.81%
AVEVA GROUP PLC -0.10% 3142 Delayed Quote.-7.61%
BAE SYSTEMS PLC -4.27% 789.8 Delayed Quote.50.05%
BARCLAYS PLC -0.25% 144.3 Delayed Quote.-22.64%
BT GROUP PLC -0.12% 121.35 Delayed Quote.-28.34%
CENTRICA PLC -1.91% 70.84 Delayed Quote.1.01%
DIAGEO PLC 0.41% 3797.5 Delayed Quote.-6.29%
DOW JONES AFRICA TITANS 50 INDEX 0.43% 401.45 Real-time Quote.-25.86%
FINTECH ACQUISITION CORP. V 0.15% 9.965 Delayed Quote.0.30%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.81%
HAMMERSON PLC 3.98% 17.9 Delayed Quote.-47.52%
ITV PLC 3.73% 57.28 Delayed Quote.-50.05%
LAND SECURITIES GROUP PLC 3.78% 521.8 Delayed Quote.-35.24%
METRO BANK PLC 0.38% 79.3 Delayed Quote.-17.79%
RELX PLC 0.18% 2202 Delayed Quote.-8.49%
RENTOKIL INITIAL PLC 0.76% 477.5 Delayed Quote.-18.85%
S&P AFRICA 40 INDEX 1.29% 129.76 Real-time Quote.-26.81%
SCHRODERS PLC 0.36% 389.3 Delayed Quote.-35.91%
SEGRO PLC 5.02% 753 Delayed Quote.-50.09%
SHELL PLC 0.22% 2246.5 Delayed Quote.38.21%
THE WEIR GROUP PLC 0.14% 1406.5 Delayed Quote.-17.94%
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