FTSE 100 Falls as Omicron Fears Weigh
The FTSE 100 drops on worries over new restrictions to contain the spread of the Omicron coronavirus variant. "Fears about new Omicron restrictions and below-average festive week volumes look set to drive a chopping week of trade ahead with little sign of a Santa rally so far," Interactive Investor analyst Victoria Scholar says. Safe-haven precious metals miner Polymetal and "stay-at-home" online grocer Ocado rise while coronavirus sensitive stocks such as British Airways parent IAG and Premier Inn hotels owner Whitbread fall, she says. Energy and mining shares also decline as oil and metal prices slip.
Companies News:
WANdisco Sees 2021 Rev Above Views on Customer IBM's Contract Win
WANdisco PLC said Monday that it now expects 2021 revenue to be meaningfully above market expectations after customer International Business Machines Corp. secured a $3.3 million contract.
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Keras Resources Pretax Loss Narrowed for Six Months Ended Sept. 30
Keras Resources PLC said Monday that its pretax loss for the six months ended Sept. 30 narrowed as revenue rose, and that the construction of its granulating plant in Utah is on hold until a funding gap is resolved.
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Bodycote Appoints Daniel Dayan as Nonexecutive Chair
Bodycote PLC said Monday that it has appointed Daniel Dayan as nonexecutive chair with effect from Jan. 1.
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ImmuPharma to Raise GBP3.6 Mln via Premium Share Placing, Subscription Offer
ImmuPharma PLC said Monday that it is launching a share placing and subscription offer at a significant premium price to raise 3.6 million pounds ($4.8 million).
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Ediston Property Investment Swung to a FY 2021 Pretax Profit
Ediston Property Investment Co. on Monday reported a swing to a pretax profit for fiscal 2021, and said that it is in a stronger position than last year given its improved net asset value, increased dividend and significant progress in re-aligning its portfolio.
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Panther Securities Says Current Level of Arrears Is in Line With Historical Levels
Panther Securities PLC said Monday that its current level of arrears was in line with historical levels, and that the board didn't believe the current situation will be as uncertain as the initial effect created by Covid-19.
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Gore Street Energy 1H Pretax Profit Jumped on Investment Gains
Gore Street Energy Storage Fund PLC on Monday reported a jump in its pretax profit for the first half of fiscal 2022 because of the revaluation of its investments.
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Zegna Wants to Grow, Not Become a Luxury Conglomerate, CEO Says Ahead of IPO
Ermenegildo Zegna SpA could look to add to its roster of brands in the future but will concentrate on organic growth in the near term, the Italian luxury-goods company's chief executive said ahead of Monday's planned initial public offering in New York.
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Hurricane Energy Says Review Concludes Board Discharged Fiduciary Duties Diligently; Shares Fall
Hurricane Energy PLC's shares fell Monday after the company said that a review requested by some shareholders concluded that its previous board discharged their fiduciary duties diligently, and that no further action was necessary.
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Sage to Buy Remaining Stake in Brightpearl for $299 Mln
Sage Group PLC said Monday that it will acquire Brightpearl--a cloud native multichannel retail management system for retailers and wholesalers--for $299 million.
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Thinksmart Sells Its Remaining 10% Stake in Clearpay to Afterpay
Thinksmart Ltd. said Monday that it has reached an agreement with Afterpay to sell its remaining 10% stake in Clearpay in exchange for 1.65 million ordinary shares in Afterpay, which have a market value of 73.4 million pounds ($97.2 million).
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Tufton Oceanic Assets to Sell Containership for $19 Mln
Tufton Oceanic Assets Ltd. said Monday that it has agreed to sell its Swordfish containership for $19 million.
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Marlowe Acquires Skill Boosters for around GBP8 Mln
Marlowe PLC said Monday that it has acquired Skill Boosters with an initial payment of 5.5 million pounds ($7.3 million) and a growth-based payment expected to be around GBP2.5 million funded with existing cash resources.
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Providence Resources' Shares Fall on Strategic Review's Timeline, Potential New CEO
Shares in Providence Resources PLC fell on Monday after the company said it has initiated efforts to recruit a new chief executive in relation to the completion of the Barryroe field's strategic review.
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Tern Portfolio Company Raises GBP2.1 Mln, Lifting Stake's Value
Tern PLC said Monday that portfolio company InVMA Ltd. has raised 2.1 million pounds ($2.8 million) largely from institutional investors, at a significant valuation uplift from Tern's prior book value holding.
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InnovaDerma FY 2021 Operating Pretax Loss Narrowed; Sees FY 2022 Return to Profitability
InnovaDerma PLC said Monday that its fiscal 2021 operating pretax loss narrowed after booking lower costs, and that it expected a return to profitability in fiscal 2022.
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Great Southern Copper Raises GBP3.5 Mln on First Day of London Dealings
Great Southern Copper PLC said on Monday that it has raised 3.5 million pounds ($4.6 million) as part of its initial public offering on its first day of dealings on the London Stock Exchange.
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Urban Logistics REIT Buys Four Assets for GBP28.6 Mln
Urban Logistics REIT PLC said Monday that it has acquired four assets for a total consideration of 28.6 million pounds ($37.9 million).
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Zephyr Energy Says Completion of Williston Basin Assets Purchase Delayed Due to Virus
Zephyr Energy PLC said Monday that completion of the acquisition of non-operated production assets in the Williston Basin in North Dakota was delayed until January due to the pandemic.
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Libertine Holdings Lowers December IPO Fundraise to GBP9 Mln From GBP10 Mln
Libertine Holdings PLC said Monday that it intends to float on London's alternative investment market on Dec. 23, and that it will raise 9 million pounds ($11.9 million) in an initial public offering, a lower amount than November's previously announced GBP10 million.
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CT Automotive to Raise GBP33.6 Mln in December London Listing
CT Automotive PLC said Monday that it intends to raise 33.6 million pounds ($44.5 million) in its initial public offering on the London Stock Exchange, set for Thursday.
Market Talk:
UK Economic Growth to Feel the Heat in the Short Term as Omicron Surges
1011 GMT - The steep rise in Covid-19 cases in the U.K. due to the spread of the Omicron variant will hit the country's short-term economic growth, economists at Pantheon Macroeconomics say. In a best-case scenario in which the U.K. doesn't implement additional restrictions, GDP would decrease by about 1% in January compared with November, they say. The drop in activity will be much more severe if hospital admissions rise at such a rapid pace that a full lockdown is required in January, with GDP expected to fall 6% from November's level in this scenario, Pantheon says. If the U.K. had to return to a partial lockdown similar to the one experienced between April and May this year, GDP would fall around 2% in January from November, it says.
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Sterling Falls on Worries Over Covid-19 Restrictions
0806 GMT - Sterling falls on concerns that the U.K. government could tighten restrictions to contain the spread of the Omicron coronavirus variant. U.K. Health Secretary Sajid Javid refused to rule out further coronavirus containment measures in England before Christmas in an interview with the BBC's Andrew Marr on Sunday. "There are no guarantees in this pandemic, I don't think," he said. "At this point we just have to keep everything under review." GBP/USD falls 0.3% to 1.3211 and EUR/GBP rises 0.4% to 0.8523.
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Inflation to Stay High in 1H 2022, Move Closer to Central Banks' Targets in 2023
0706 GMT - Indosuez Wealth Management expects inflation to remain high in 1H 2022, near the current level in the U.S., but it will monitor any de-anchoring of inflation expectations, chief investment officer Vincent Manuel and investment strategy analyst Adrien Roure say. That could fuel more sustainable wage inflation, although this isn't Indosuez WM's current core scenario. In Europe, the inflation trend will be driven primarily by the resolution to the energy shock, they say. Indosuez WM expects short-term volatility, but with the ebbing of supply-chain tensions, inflation should come back down after spring and gradually move closer to the central banks' targets in 2023. It is forecast at 4.5%-5% in the U.S. and 2.5%-3% in Europe in the coming months.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
12-20-21 0617ET
