The FTSE 100 ended the week in positive territory, unlike other major indexes. London's blue-chip index closed up 0.1% on Friday after the Bank of England lifted interest rates the previous day. "While the decision to move now seems at odds with the uncertainty around the economic impact of the Omicron variant, and rising rates are not typically good news for stocks, businesses and markets don't love uncontrolled inflation either so the Bank of England at least trying to get a handle on things isn't all bad news," AJ Bell's Russ Mould said. British Airways owner IAG and conglomerate Associated British Foods were the best performers on Friday, with shares rising 4.0% and 3.7%, respectively.


 
Companies News: 

Johnson Matthey to Sell Health Business to Altaris Capital Partners for $433 Mln

Johnson Matthey PLC said Friday that it has agreed to sell its health business to Altaris Capital Partners for an enterprise value of 325 million pounds ($433 million).

---

SIG Sees FY Underlying Operating Profit Ahead of Views on 4Q Performance

SIG PLC said Friday that it is confident of delivering full-year underlying operating profit ahead of prior expectations as it benefited from a better-than-forecast performance in the fourth quarter.

---

Bidstack Group Sees FY 2021 Profit in Line With Market Views

Bidstack Group PLC on Friday said gross and net profit for fiscal 2021 are anticipated to be broadly in line with market expectations after significant deals, though revenue is expected to be below views because of agreement delays.

---

NatWest Enters into Legally Binding Agreement for Stake in Permanent TSB

NatWest Group PLC said Friday that with its subsidiary Ulster Bank Ltd, it has entered into a legally binding agreement with Permanent TSB Group Holdings PLC as part of its phased withdrawal from Ireland.

---

Live Company Raises GBP0.4 Mln to Fund KPOP.FLEX Festival

Live Company Group PLC said Friday that it has raised 400,000 pounds ($532,920) via a share placing to fund the KPOP.FLEX festival, to expand the concept and for post-lockdown working capital.

---

Zotefoams Expects 2021 Revenue Ahead of Market Views

Zotefoams PLC said Friday that it expects 2021 revenue to be slightly ahead of market expectations, and that supply-chain disruptions will delay some year-end shipments to early 2022.

---

Conygar Investment Proposes GBP10 Mln Share Placing

Conygar Investment Co. said Friday that it is proposing a share placing to raise 10 million pounds ($13.3 million), with the proceeds to be used toward progressing The Island Quarter site in Nottingham, England.

---

Sareum Holdings Raises GBP1.6 Mln to Fund Two Proprietary Inhibitor Programs

Sareum Holdings PLC said Friday that it has raised 1.6 million pounds ($2.1 million) via a share subscription and will use the money to advance two proprietary inhibitor programs, as well as for working capital purposes.

---

Harworth Group to Sell Land Site for GBP53.5 Mln

Harworth Group PLC said Friday that it has agreed to sell a land site in Ansty, Warwickshire, to SDI Propco 100 Ltd. for 53.5 million pounds ($71.3 million).

---

Morses Club and Subsidiary to Continue Operating Separately

Morses Club PLC said Friday that it has decided not to introduce a new holding company and will operate as a separate division from its subsidiary, Shelby Finance Ltd., as it won't meet the deadline for the arrangements.

---

Mattioli Woods Says 1H Performance Was Ahead on Year

Mattioli Woods PLC said Friday that net inflows for its investment and asset management services and the number of new clients in the first half were ahead of the prior year.

---

Litigation Capital Management Ends Contract With Executive Vice Chairman; Shares Fall

Shares in Litigation Capital Management Ltd. fell on Friday after the company said that Nick Rowles-Davies has been removed from his role as executive vice chairman with immediate effect.

---

Cellnex Shares Fall After UK Watchdog Says Telecoms Deal Raises Competition Concerns

Shares in Spain's Cellnex Telecom SA dropped on Friday after the U.K.'s competition watchdog said its proposed deal to buy CK Hutchison Holdings Ltd.'s telecoms towers in the country could harm competition.

---

Jade Road Investments Flags Potential Provision in 2021 Accounts Over Convertible Bond; Shares Fall

Shares in Jade Road Investments Ltd. on Friday fell after the company said it believes it will likely book either a partial or full provision in its 2021 accounts in relation to a $26.5 million convertible bond.

---

Sanne Group Sees 2021 New Business Wins Jump

Sanne Group PLC said Friday that new business wins increased in 2021 due to a recovery in its end markets despite the Covid-19 pandemic.

---

Prime People Proposes Cancellation of AIM Listing; Plans Tender Offer

Prime People PLC said Friday that it is proposing to cancel the trading of its shares on London's junior AIM and re-register as a private limited company.

---

Helical to Buy Office Building in London for GBP160 Mln

Helical PLC said Friday that it has signed a deal to buy a 167,026 square-foot office building in London, 100 New Bridge Street, for a cash consideration of 160 million pounds ($213.2 million) in cash.

---

Pembridge Resources Raises GBP400,000 in Share Subscription and Convertible Loan Issue

Pembridge Resources PLC said Friday that it has raised 400,000 pounds ($532,920) via a share subscription and convertible loan issue to evaluate new projects and for general working capital purposes.

---

HSBC Fined $85 Million for Lax Anti-Money-Laundering Controls

HSBC Holdings PLC was fined for inadequate anti-money-laundering controls that the London-based bank used to monitor hundreds of millions of dollars of transactions.


 
Market Talk: 

SIG's Update Provides 'Confidence in Direction of Travel'

1107 GMT - SIG PLC's update on Friday shows management giving evidence of turning the business around, Goodbody says. The U.K. building-materials supplier's board is confident it can deliver an underlying profit for 2021 of at least GBP40 million, as the strong performance momentum continued into 4Q. Goodbody forecasts 2021 sales at GBP2.25 billion, with the operating margin close to 2.5% in 2H 2021 compared with 1.2% in 1H 2021. The Irish brokerage estimates a net debt slightly higher than previously anticipated at around GBP370 million. "Whilst today's upgrades are only likely to move nearer-term numbers, it gives confidence in the direction of travel," Goodbody says.

---

Early Christmas-Present Shopping Seen Behind the Pick-Up in November UK Retail Sales

0858 GMT - The high level of U.K. retail sales in November likely reflects consumers purchasing Christmas presents earlier than usual due to warnings about product availability, Pantheon Macroeconomics' chief U.K. economist Samuel Tombs says. Retail sales volumes rose 1.4% month-on-month in November. Looking ahead, retailers appear to be relatively unaffected by Omicron, Tombs says. Footfall in the week ending Dec. 11 was only 1% lower than the previous week, according to Springboard. Retail sales might even pick-up in January, if households avoid services venues due to concerns about catching Omicron, Tombs says. Households also have amassed excess savings equal to nearly 9% of GDP which they can draw on to finance expenditure over the next year, if they become confident again, he says.

---

UK 10Y Gilt Yield Could More than Double by End-2022

0854 GMT - The yield on the 10-year U.K. benchmark government bond is likely to more than double from current levels by the end of next year, says Mizuho. "Our end-2022 call for 10Y Gilt [yield] is 1.53%," analysts at the bank say. They are also forecasting a selloff in government bonds due in more than five years. The selling will be more pronounced in 30-year gilts as the wind-down of quantitative easing and higher foreign-exchange hedging for foreign investors materially changes the supply-demand picture, they say. The 10-year gilt yield trades last at 0.736%, according to Tradeweb.

---

BOE Expected to Raise Rates Again in February

0852 GMT - The Bank of England is expected to raise its base interest rate again in February after a surprise increase Thursday, says Mizuho. It expects the BOE to raise rates by 25 basis points in February and by another 25 basis points in August. Noting that the market is pricing three 25 basis-point increases in 2022, Mizuho expects rate rises will be more gradual than this but that the BOE will eventually raise interest rates higher than the market is currently pricing in. The 10-year gilt trades last 0.736%, down from 0.754% at Thursday's close, according to Tradeweb.

---

BlackRock Keeps Shorts in German, UK Duration; Long in Spain Post-Central-Bank Meets

0705 GMT - BlackRock remains short German and U.K. duration and is long Spanish government bonds in their flagship global unconstrained bond fund, Marilyn Watson, head of global fundamental fixed-income strategy, says after a series of central bank policy meetings this week. U.K. gilt yields rose after the Bank of England raised its key policy rate to 0.25% from 0.10% in a move Thursday that was unexpected by many market participants. The selloff in gilt yields sparked a selloff in eurozone government bonds as well, which was accelerated after the European Central Bank provided markets with clarity on the future of its asset purchases.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

12-17-21 1208ET