FTSE 100 Rises; Segro Gains After Earnings
0913 GMT - The FTSE 100 climbs 0.2% to 7551 points with property developer Segro among the risers after posting a jump in annual profits and raising its final dividend. Segro shares gain 2.1%. Consumer goods major Reckitt Benckiser continues to rally, rising 2.5%, after beating 4Q underlying revenue growth forecasts on Thursday. NatWest falls 3.0% after the lender lowered its cost-cutting target due to higher inflation. Meanwhile, Friday data showed U.K. retail sales 1.9% rose on month in January after a 4.0% decline in December. "Growth at the start of 2022 was likely helped by both an easing of consumer caution as Covid-19 infection numbers fell back from December's high levels and a return to more normal spending patterns," EY Item Club economists say. (email@example.com)
NatWest Swung to 4Q Profit, Plans Share Buyback of Up to GBP750 Mln
NatWest Group PLC reported Friday a swing to an operating pretax profit and net profit for the fourth quarter of 2021, which came in ahead of market views, and said it intends to launch a share buyback program of up to 750 million pounds ($1.02 billion).
Segro 2021 Pretax Profit Rose on Higher Investment Properties Gains
Segro PLC said Friday that pretax profit for 2021 rose after booking higher gains on wholly-owned investment properties, and that it entered 2022 confident in its outlook for the business and ability to deliver continued growth.
Cineworld Group Agrees to Payment Deal With Former Dissenting Shareholders of Regal Entertainment
Cineworld Group PLC said Friday that it has concluded discussions with former dissenting shareholders of Regal Entertainment Group, and that an agreement has been reached for the remaining $79.3 million to be paid by June 30.
Severstal 4Q Net Profit Fell, Revenue Rose on Higher Steel Prices
Severstal PAO said Friday that net profit for the fourth-quarter fell despite revenue rising, and declared a dividend payout.
TBC Bank Says 4Q Pretax Profit Rose; Is Confident About Outlook
TBC Bank Group PLC reported on Friday a significant rise in pretax profit for the fourth quarter of 2021 and said it is confident about its outlook.
Kingspan 2021 Pretax Profit Rose on Higher Revenue; Is Cautiously Optimistic About 2022
Kingspan Group PLC said Friday that 2021 pretax profit and revenue rose, and that despite a slower fourth quarter, the board was cautiously optimistic about 2022's outlook given the company's strong order backlog.
UK Watchdog Could Refer CVS' Acquisition of the Vet for In-Depth Probe
The U.K. Competition and Markets Authority said Friday that it may refer CVS Group PLC's completed acquisition of The Vet for a further investigation, as it believes the deal raises competition concerns.
Pod Point Group Holdings 2021 Revenue Rose, Pretax Loss Widened as Costs Increased
Pod Point Group Holdings PLC said Friday that revenue for 2021 jumped but that its pretax loss widened as costs rose.
UK Retail Sales Short-Term Outlook Clouded by High Inflation
0845 GMT - Retail sales in both the first and second quarter of 2022 in the U.K. are likely to be weaker than in the last three months of 2021, Pantheon Macroeconomics says. Households' real disposable income looks set to fall by nearly 2% this year due to high inflation, and the low level of consumer confidence suggests that they will be reluctant to borrow more to smooth out the real income shock, Pantheon says. Moreover, while high-income households have amassed considerable savings, they are more likely to spend them on big-ticket items, such as cars or foreign holidays, than on retail store purchases, the economic-research firm says. (firstname.lastname@example.org)
Contact: London NewsPlus, email@example.com
(END) Dow Jones Newswires