FTSE 100 Drops as Oil Shares, Miners, Burberry Fall

0818 GMT - The FTSE 100 Index drops 0.3%, or 22 points, to 7114 as oil and mining stocks drop and after Burberry said its chief executive was leaving the luxury fashion house. BP and Royal Dutch Shell are 1% and 0.8% lower, respectively, as the price of a barrel of Brent crude retreats 0.3% to $75.15. Miners drop as base-metal prices lose ground. Burberry backtracks 8% after it said Chief Executive Officer Marco Gobbetti was leaving at the end of the year to take the same role at Italian leather goods maker Salvatore Ferragamo. Burberry said it has begun a search for his successor.


 
Companies News: 

Napster's FY 2020 Pretax Loss Widened Materially; Confident About Future

Napster Group PLC on Monday reported a significantly widened pretax loss for fiscal 2020 and said it is confident about the business's future.

---

City Pub Says Performance Is Strong Amid Lifting of Covid-19 Restrictions

City Pub Group PLC said Monday that the performance of its 42 pubs has been at 90% of 2019 levels since they were allowed to reopen on April 12, adding that it is cash generative and that it is identifying new acquisitions.

---

Croma Security Sees FY 2021 Ebitda Above Views; To Pay Final Dividend

Croma Security Solutions Group PLC said Monday that Ebitda for fiscal 2021 is expected to be above management expectations, and that it will pay a final dividend for the year.

---

Lookers Expects Full Year to Be Ahead of Market Views; 2020 Results Delayed

Lookers PLC said Monday that its 2021 outlook is significantly ahead of market expectations after a strong year-to-date performance, and that its 2020 results have been delayed.

---

Origo Partners Shares Fall on Widened 2020 Pretax Loss

Shares in Origo Partners PLC fell Monday after the company said that pretax loss for 2020 widened and that its net asset value also dropped.

---

BHP, Anglo American Sell Mine Stakes to Glencore in Shift from Thermal Coal -- Update

Glencore agreed to acquire the interests after both Anglo American and BHP sought to sell their stakes.

---

Bion Shares Fall on Delayed Audit of 2020 Results

Shares in Bion PLC fell Monday after the company said its audit of 2020 results has been delayed because of Malaysia's Covid-19 movement-control order.

---

Escape Hunt Revenue, Earnings Rise After Reopening

Escape Hunt PLC said Monday that revenue and earnings have climbed sharply since it reopened its sites on May 17, as coronavirus-driven restrictions ease.

---

UK Competition Watchdog Clears Intel's Chip Unit Sale to SK Hynix

The U.K. Competition and Markets Authority said Monday that it has cleared Intel Corp.'s proposed sale of its flash-memory manufacturing business to South Korea's SK Hynix Inc.

---

Eco Atlantic Conditionally Raises $5 Mln via Subscription; Shares Rise

Shares in Eco Atlantic Oil & Gas Ltd. rose Monday after the company said it conditionally raised 6.1 million Canadian dollars ($5 million) via a subscription, which it will use to part-fund the purchase of a 10% interest in JHI Associates Inc.

---

Live Company Shares Fall After Widened Loss, Warning of Challenges Ahead

Shares in Live Company Group PLC fell Monday after the company reported a sharply widened pretax loss for 2020 as revenue was hit by the coronavirus pandemic and warned that it faces a challenging year ahead.

---

Nanoco Group Says Shareholders Plan to Provide GBP3 Mln Debt Facility

Nanoco Group PLC said Monday that its major shareholders have indicated an intention to provide a debt facility of three million pounds ($4.2 million) in light of encouraging developments.

---

Mediazest 1H Pretax Loss Widened

Mediazest PLC reported Monday a significantly widened pretax loss for the first half of fiscal 2021, but said it expects to see improvements in the second half.

---

Anglo-Eastern Plantations Palm Oil Fruit Production Rose in Five Months to May 31

Anglo-Eastern Plantations PLC said on Monday that for the five months ended May 31, production of oil palm tree fresh fruit bunches rose 16%, and that it expects crude palm oil prices to moderate in the second half of the year on the back of higher crop production.

---

Ferro-Alloy Resources 2020 Pretax Loss Widened; Revenue Rose

Ferro-Alloy Resources Ltd. on Monday reported a widened pretax loss for 2020, although revenue rose on significantly higher vanadium pentoxide production.

---

Impact Healthcare Signs GBP26 Mln Credit Facility With NatWest

Impact Healthcare REIT PLC said Monday that it has signed a new revolving credit facility of 26 million pounds ($36.1 million) with National Westminster Bank PLC and reduced its loan with Metro Bank PLC.


 
Market Talk: 

Greggs Gains as Post-Lockdown Sales Keep Sizzling

0855 GMT - Shares in Greggs edge 0.4% higher after the U.K. bakery-shop chain reported better-than-expected sales momentum since May, potentially resulting in full-year results topping hopes. Though the initial post-lockdown surge in retail-sector sales has eased, Greggs has managed to maintain sales as people return to the high street. "Greggs was cautious when the company last updated and it is interesting to see management not shouting from the rooftops despite better-than-expected trading," AJ Bell investment director Russ Mould says. "That is the correct stance to take as there is still a lot of uncertainty across the U.K. It also isn't clear how much of the commuter trade will return."

---

Burberry Shares Drop After Successful CEO Quits

0837 GMT - Shares in Burberry top the FTSE 100 fallers, falling 7% after the luxury fashion house said Chief Executive Officer Marco Gobbetti was leaving at the end of the year to take the same role at Italian leather goods maker Salvatore Ferragamo. Burberry said it has begun a search for his successor. "The market was disappointed that Burberry chief executive Marco Gobbetti is stepping down, prompting a decline in the share price," says AJ Bell's investment director Russ Mould. "That shows how much he is credited with the success of the luxury goods business," he adds.

---

Copper Weakens Amid Chinese Asset Manager Concerns

0827 GMT - Copper prices edged lower at the start of the week amid concerns about the health of a major Chinese state-owned asset manager. Three-month copper on the LME edged down 0.2% to $9,421 a metric ton. Sentiment among Chinese traders weakened after reports that China had asked another state-owned investment company to look over the books of China Huarong Asset Management, said Anna Stablum at brokerage Marex. China Huarong has been the subject of concerns since it missed a deadline to report results at the end of March. That stoked speculation that the firm might be close to default, says Stablum. Data in focus this week will be U.S. consumer confidence Tuesday, followed by Chinese Manufacturing PMI and U.S. jobs data later in the week.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

06-28-21 0535ET