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FTSE 100 Closes Up Despite Gas-Price Worries

10/08/2021 | 10:31am EST

The FTSE 100 closed up 0.25% on Friday, bringing a rollercoaster week filled with inflation warnings, disappointing U.S. job data and a global social-media blackout to an end. Tesco PLC led the way as it raised full-year profit guidance and launched a GBP500 million share buyback program following a robust first half, while BT took a drubbing amid rumors that it could face serious challenges to its broadband infrastructure dominance, AJ Bell financial analyst Danni Hewson says. Gas prices have dominated the conversation this week, with the potential knock-on effect on household budgets worrying businesses and consumers. "For investors, decisions are straight forward and both BP and Shell have helped the FTSE 100 end the week on a high, even if slightly sour note," Ms. Hewson said.

 
Companies News: 

Hollywood Bowl FY 2021 Boosted by Demand After Covid-19 Restrictions Were Lifted

Hollywood Bowl Group PLC said Friday its performance for fiscal 2021 was strong since its centers were allowed to reopen in England and Wales, boosted by a rebound in customer demand.

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Royal Mail to Buy Mid-Nite Sun Transportation (Rosenau Transport) for $286.8 Mln

Royal Mail PLC said Friday that its subsidiary General Logistics Systems will acquire Canadian logistics company Mid-Nite Sun Transportation Ltd., which operates as Rosenau Transport, for 360.0 million Canadian dollars ($286.8 million).

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Brighton Pier Group Sees FY 2021 Earnings GBP2 Mln Above Market Views

Brighton Pier Group PLC said Friday that it has received five million pounds ($6.8 million) of business interruption insurance claims and now expects to report fiscal 2021 earnings GBP2 million above market expectations.

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N. Brown 1H Pretax Profit Rose Significantly

N. Brown Group PLC reported on Friday a rise in pretax profit for the first half of fiscal 2022 amid a significant decrease in costs, and said that it has dealt well with global freight disruptions.

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Electrocomponents 1H 2022 Comparable Revenue Increased 31%; Raises FY Guidance

Electrocomponents PLC said Friday that like-for-like revenue for the first half of fiscal 2022 rose 31%, with strong growth across all three regions, and raised its full-year guidance.

 
Market Talk: 

Electrocomponents Lifts FY Guidance, But is Wary on 2H

1025 GMT - Shares in Electrocomponents rise 2% after the FTSE 250-listed electronics distributor raised full-year revenue and profit guidance, but said it remains cautious about issues such as supply-chain shortages and higher costs. While growth remains strong, the supply-chain and cost issues point to a tougher second half, brokerage Davy says. "There's little not to like about Electrocomponents over the last four years," Davy analysts say. "However, we feel this is a stock that now requires more material upgrades to move it on following the significant re-rating of the last 12 months," Davy says. (philip.waller@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

10-08-21 1231ET

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