FTSE 100 Falls as Packaging, Mining Stocks Drop
0920 GMT - The FTSE 100 Index drops 0.3%, or 26 points to 7904 as paper and packaging companies and miners fall after sector results. DS Smith, Smurfit Kappa and Mondi lose ground after Mondi reported in full-year results what Goodbody described as a cautious outlook. Miners Antofagasta, Anglo American, BHP and Rio Tinto are also among the biggest blue-chip losers after Anglo reported lower annual revenue and profit. BAE Systems shares retreat 3% after the arms group's full-year results fell short of hopes. Among the risers, jet-engine maker Rolls-Royce gains 15% after flagging a strategic review and advertising, marketing and public relations firm WPP advances 4% after announcing higher annual revenue and profit. (philip.waller@wsj.com)
Companies News:
Anglo American 2022 Net Profit Fell on Higher Production Costs, Lower Prices
Anglo American PLC said Thursday that net profit for 2022 fell dragged by higher energy costs and lower prices.
---
WPP 2022 Profit, Revenue Rose After Strong Performance Across Major Agencies
WPP PLC said Thursday that pretax profit and revenue rose in 2022 after strong performance across its major agencies.
---
Mondi Posts 2022 Pretax Profit Rise as Higher Prices Offset Costs
Mondi PLC on Thursday posted a rise in pretax profit for 2022 boosted by higher average selling prices, which more than offset higher energy and wood costs, and said it still sees an environment of softer demand and pricing in 2023.
---
Rolls-Royce 2022 Pretax Loss Widened; Strategic Review Underway
Rolls-Royce Holdings PLC said Thursday that its pretax loss widened for 2022 widened and that a strategic review is underway to identify investment priorities.
---
BAE Systems 2022 Pretax Profit Fell on Higher Costs, Missing Consensus
BAE Systems PLC said Thursday that pretax profit fell for 2022 and missed consensus after booking higher costs.
---
Howden Joinery FY 2022 Pretax Profit Rose; Launches GBP50 Mln Buyback
Howden Joinery Group PLC said Thursday that pretax profit rose for fiscal 2022 on higher revenue and launched a 50 million pound ($60.2 million) share buyback.
---
Hays 1H Pretax Profit Fell on Higher Costs, CEO to Step Down
Hays PLC said Thursday that pretax profit fell in the first half of fiscal 2023 on higher costs, as net fees hit a record high despite the challenging backdrop, and that Chief Executive Officer Alistair Cox will step down.
---
Drax's 2022 Pretax Profit Fell on Derivative Contracts Loss
Drax Group PLC said Thursday that pretax profit fell for 2022 after booking a loss on derivative contracts, and that it expects inflation to remain a headwind in 2023.
---
Hikma Pharmaceuticals 2022 Net Profit Misses Consensus on Lower Generics Earnings
Hikma Pharmaceuticals PLC on Thursday reported a more than halved 2022 net profit, missing a market consensus, due to a 49% fall in core operating profit in its generics' business and high inflation.
---
Morgan Sindall 2022 Pretax Profit Fell on One-Off Charges
Morgan Sindall Group PLC said Thursday that its 2022 pretax profit declined on year after booking a building safety-related charge in its accounts and on rising costs due to inflationary pressure.
---
Amigo Swings to Nine-Month Pretax Loss on Legacy Book Unwind
Amigo Holdings PLC reported on Thursday a swing to a pretax loss for the first nine months of fiscal 2023 on the continuing run-off of the legacy loan book and limited new lending during the period as customer numbers more than halved.
---
Arbuthnot Banking Sees 2022 Pretax Profit Ahead of Views
Arbuthnot Banking Group PLC said Thursday that it expects 2022 pretax profit to beat market expectations as it traded well in the fourth quarter and benefited from higher interest rates.
---
Hikma Pharmaceuticals 2022 Net Profit Misses Consensus on Lower Generics Earnings -- Update
Hikma Pharmaceuticals PLC on Thursday reported a significant fall in 2022 net profit, missing a market consensus, due to a 49% decline in core operating profit in its generics' business and high inflation.
---
Made Tech Swung to Pretax Loss on Higher Costs, Sees FY 2023 in Line With Views
Made Tech Group PLC reported on Thursday a swing to pretax loss for the first half of fiscal 2023 on the back of increased costs despite nearly doubling its revenue, but said that it remains on track to meet full-year performance in line with market expectations.
---
Rolls-Royce Shares Jump as Strategic Review Announced -- Update
Shares in Rolls-Royce Holdings PLC jumped 16% on Thursday after the company said that a strategic review is underway to identify investment priorities, and that its pretax loss for 2022 widened.
---
Shares in Redx Pharma Rise on Jounce Therapeutics Merger
Shares in Redx Pharma PLC rose in early trading Thursday after it said it and Jounce Therapeutics Inc. have agreed to merge, and that their highest priority will be the development of RXC007, its lung disease drug candidate.
---
TT Electronic Sees 2022 Pretax Profit at Top End of Range
TT Electronics PLC said Thursday that it expects 2022 adjusted pretax profit to be in the upper end of a company-compiled analyst forecast range of 36.5 million pounds to GBP39.4 million ($44 million-$47.5 million).
---
Spectris 2022 Pretax Profit Fell Despite Revenue Rise as Higher Costs Hit
Spectris PLC on Thursday reported a fall in 2022 pretax profit on the back of higher costs and despite revenue rising on market-share gains, volume growth and pricing.
---
Invinity to Increase Size of GBP16 Mln Placing on High Demand
Invinity Energy Systems PLC said Thursday that it will increase the size of the placing announced late Wednesday in response to demand after it was oversubscribed.
---
Anglo Asian Mining Shares Slip as Lower 2023 Production Expected
Shares in Anglo Asian Mining PLC fell 7.7% Thursday after the company guided for lower overall production for 2023 as it shifts its focus to copper production with the opening of new mines and increased capacity at its flotation plant.
---
Rolls-Royce Shares Jump as Strategic Review Announced -- 2nd Update
Shares in Rolls-Royce Holdings PLC jumped 18% on Thursday after the company said that a strategic review is underway to identify investment priorities, and that its pretax loss for 2022 widened.
---
System1 Group Shares Rise After 3Q Profit Margin Increase
System1 Group PLC shares rose on Thursday after the group said that gross margin for the third quarter improved despite a revenue fall.
---
N. Brown Appoints Dominic Appleton as CFO Designate
N. Brown Group PLC said Thursday that it has appointed Dominic Appleton as chief financial officer designate with effect from March 1, replacing Rachel Izzard.
---
Genus Shares Rise After 2023 View Backed, Posted Higher 1H Revenue, Volumes
Shares in Genus PLC rose 14% on Thursday after the company backed its outlook for 2023 and posted a fall in half-year pretax profit but a rise in the adjusted figure.
---
IGas Energy 2022 Net Production in Line
IGas Energy PLC said Thursday that 2022 net production was in line with expectations and averaged 1,898 barrels of oil equivalent per day despite being hit by an equipment failure caused by supply-chain issues in the first half.
---
Pollen Street's Assets Under Management Rose in 4Q, Declares Dividend
Pollen Street PLC on Thursday said that it closed the fourth quarter with higher total assets under management and announced a 16.0 pence a share dividend for the period.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
02-23-23 0439ET
