The FTSE 100 closed up 0.1% to 7276 points as European markets shrugged off concerns of an economic slowdown backed by latest PMI data in the region, CMC Markets UK chief market analyst Michael Hewson says in a note. The market gains on the week appeared to be driven by the views that central bankers may not increase the rates as aggressively than originally expected, he adds. "The weakness in commodity prices is certainly helping investors draw this conclusion, however it still seems a remarkably premature conclusion, even as German 10-year yields hit their lowest levels since May," Hewson says. Ocado bounced back from previous losses and lead the gains in the session closing up 5.1%. Among the top fallers, Mondi dropped 5.4% followed by DS Smith, which was down 5.2%.
Companies News:
UK Regulator Clears Warner Bros. Discovery/BT Group Deal
The U.K.'s Competition and Markets Authority said Friday that it has decided not to refer BT Group PLC's sports joint venture with Warner Bros. Discovery to a Phase 2 investigation.
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JD Sports Fashion's Five-Month Sales Ahead of Prior Year
JD Sports Fashion PLC said Friday that total sales for the first five months of fiscal 2023 remain 5% ahead of the prior year, and that it expects to close out the current financial year with another record pretax-profit performance.
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Mirriad Advertising Sees Flat 2022 Revenue Due to China Weakness
Mirriad Advertising PLC said Friday that it now sees 2022 revenue being flat on year at around 2 million pounds ($2.4 million) as market conditions in China are significantly weaker than expected.
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Supply@Me Capital to Raise Up to GBP320,855 in Open Offer
Supply@Me Capital PLC said Friday that it intends to raise up to 320,855 pounds ($385,154) through an open offer as part of its capital enhancement plan.
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Homeserve 1Q Performance in Line With Board Views; HVAC Strategy Continues
Homeserve PLC said Friday that its performance in the first quarter of fiscal 2023 has been in line with the board's expectations, and that it continues to execute its buy-and-build heating, ventilation, and air conditioning, or HVAC, strategy.
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Beazley 1H Pretax Profit Fell Sharply on Investment Performance
Beazley PLC said Friday that pretax profit for the first half of 2022 fell sharply due to a complicated investment environment and that gross premiums written rose.
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JTC Posts Net Organic Revenue Growth for 1H, in Line With Guidance
JTC PLC said Friday that its performance in the first half of 2022 was marked by net organic revenue growth, and that it met all of its guidance metrics for the period.
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Stanley Gibbons CEO to Step Down in September; New CEO Named
Stanley Gibbons Group PLC said Friday that Chief Executive Officer Graham Shircore will step down on Sept. 12, with Tom Pickford set to take over the role.
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Record PLC 1Q Assets Under Management Hit by Financial Market Uncertainty
Record PLC said Friday that assets under management fell in the first quarter as investment valuations suffered from uncertain financial markets, and despite recording net inflows for the period.
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FRP Advisory FY 2022 Pretax Profit Slipped on Higher Expenses; Revenue Rose
FRP Advisory Group PLC said Friday that its fiscal 2022 pretax profit slipped on higher expenses, though revenue rose and the outlook is positive.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
07-22-22 1236ET
