FTSE 100 Edges Lower as Miners Fall; Utilities Gain
0904 GMT - The FTSE 100 Index edges 0.1%, or four points, lower to 7942 as losses for miners offset modest gains for utilities, retailers and various other stocks. Anglo American. Rio Tinto, Antofagasta, BHP and Glencore are among the biggest top-flight fallers, down by up to 3% after downbeat economic news from China. Still, United Utilities, Severn Trent, Centrica and National Grid gain in the utility sector, while retailers Tesco, B&M European Value Retail, Next and Sainsbury's also rise. "Miners like Anglo American, Antofagasta and Rio Tinto are languishing towards the bottom of the U.K. index after China issued a modest growth target of 5% for its economy this year," Victoria Scholar, head of investment at Interactive Investor, writes. (philip.waller@wsj.com)
COMPANIES NEWS:
Capita to Sell Resourcing Business to Inspirit Capital for GBP21 Mln
Capita PLC said Monday that it has agreed to sell its resourcing business to private equity investment company Inspirit Capital for 21 million pounds ($25.3 million) on a cash free, debt free basis.
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Foxtons Acquires Estate Agent Atkinson McLeod for GBP7.4 Mln -- Deal Digest
ACQUIRER: Foxtons Group PLC, a U.K. real-estate agency.
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Kingswood Holdings Confirms Talks on Sale or Third Party Investment of U.K. Operations
Kingswood Holdings Ltd. on Monday said that talks have taken place on the potential sale or third party investment of its U.K. business operations as part of its strategic options, confirming recent press speculation.
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Seeing Machines 1H Pretax Loss Narrowed on Increased Revenue
Seeing Machines Ltd. said Monday that its pretax loss halved in the first half of fiscal 2023 as original equipment manufacturer revenue jumped 268% on year to $14.0 million.
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Craneware 1H Pretax Profit Falls Despite Higher Revenue; Sees FY 2023 in Line
Craneware PLC said Monday that pretax profit fell in the first half of fiscal 2023 after booking higher finance expenses and despite higher revenue, and that it sees results for the year in line with consensus.
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1Spatial Expects to Report FY 2023 Pretax Profit, Revenue Rise
1Spatial PLC said Monday that it expects to report a rise in pretax profit and revenue for fiscal 2023 and that momentum has continued into fiscal 2024.
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Clarkson 2022 Pretax Profit, Revenue Rose Boosted by Broking Division
Clarkson PLC said on Monday that its pretax profit rose in 2022 driven mainly by sales in its broking division, and raised its dividend.
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Home REIT Sees Two Tenants Representing 18% of Rent Enter Liquidation
Home REIT PLC said Monday that two tenants, making up a combined total of 18.2% of its annual rent, have entered creditors voluntary liquidation, and it has opened discussions with new prospective tenants.
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James Fisher Sells Nuclear Business for Nominal Sum; Sees 2022 Revenue Rising
James Fisher & Sons PLC said Monday that it has sold James Fisher Nuclear Holdings Ltd. and related properties to Rcapital Partners LLP for a nominal consideration, and it expects 2022 revenue to rise.
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Fusion Antibodies Sees Lower FY 2023 Revenue On Order Delays
Fusion Antibodies PLC on Monday said it expects its revenue and earnings for fiscal 2023 to be significantly lower than market expectations due to continued uncertainty over the timing of anticipated orders from project delays as clients seek further investment.
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ADVFN 1H Pretax Loss Widened Amid Management Disruptions
ADVFN PLC on Monday reported a swing to pretax loss for the first half of fiscal 2023 on lower revenue amid disruptions to management and structure changes in the period.
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GreenRoc Mining to Raise GBP550,000; Reaches Greenland Development Agreement
GreenRoc Mining PLC said Monday it aims to raise 550,000 pounds ($662,365) via a discounted placing which it will use toward its graphite project in Greenland, and that it signed a preliminary agreement with Norway's Leonhard Nilsen & Sonner AS in relation to the project's development.
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RA International CFO Andrew Bolter to Step Down
RA International Group PLC said Monday that Chief Financial Officer Andrew Bolter has decided to step down, effective Aug. 31.
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BATM Advanced Communications' 2022 Pretax Profit, Revenue Fall
BATM Advanced Communications Ltd. said Monday that 2022 pretax profit and revenue fell amid lower sales of Covid-19-related products.
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AssetCo to Buy Ocean Dial for GBP4.1 Mln
AssetCo PLC said Monday that it has agreed to buy Ocean Dial Asset Management Ltd. from Avendus Capital Asset Management for 4.1 million pounds ($4.9 million).
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Mac Alpha Raises GBP600,000 Via Share Issue
Mac Alpha Ltd. on Monday said it has raised 600,000 pounds ($722,580) via share issue and posted a pretax loss for the second half of 2022.
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Trellus Health Sees 2022 Ebitda Loss, Higher Revenue
Trellus Health PLC said Monday that it expects to report an Ebitda loss and higher revenue for 2022.
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Lookers Buys Fourways Vehicle Solutions
Lookers PLC said Monday that it has bought vehicle-hire and brokerage business Fourways Vehicle Solutions Ltd.
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MacFarlane Buys A.E. Sutton for GBP9 Mln
MacFarlane Group PLC said Monday that it has bought A.E. Sutton Ltd. for around 9 million pounds ($10.8 million), as part of the company's 'buy and build' strategy.
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Fresnillo's 2022 Profit, Revenue Set to Fall -- Earnings Preview
By Joe Hoppe
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Shearman & Sterling partner exits to Paul Hastings after failed merger bid -- Financial News
Shearman & Sterling's merger talks with Hogan Lovells collapsed last week
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Pantheon Resources Says Production at Alaska Well Has Restarted After Blockage
Pantheon Resources said on Monday that production restarted at its Alkaid #2 well in Alaska on Feb. 21 after the completion of the sand blockage clean-out.
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Power Metal Resources Swings to FY 2022 Net Profit
Power Metal Resources PLC on Monday reported a swing to net profit for fiscal 2022 after booking a capital contribution due to the completion of a capital reorganization by Golden Metal Resources PLC.
MARKET TALK:
Purplebricks Deserves to Be Bought Out, Davy Says
0856 GMT - Purplebricks's strategic review and potential sale could have a number of outcomes, Davy Research says. The estate agent has the cash, the model and brand value and with the right leadership it could once again be the market share taker in a staid U.K. estate agency competitive landscape, Davy analysts say in a research note. "There is cash to sustain the business and it deploys a sane business model; it finds itself here essentially because of poor leadership and bad execution. Purplebricks remains a major U.K. estate agent with material market share, and someone should buy it," the Irish research firm says. Davy raises its rating on the stock to outperform from neutral. Shares are down 7.5% at 8.7 pence. (joseph.hoppe@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
03-06-23 0424ET
