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FTSE 100 Gains as Ferguson, Next, AstraZeneca Rally

09/29/2021 | 04:35am EST

FTSE 100 Gains as Ferguson, Next, AstraZeneca Rally

0744 GMT - The FTSE 100 rises 0.7% to 7078 points, with Ferguson, Next and AstraZeneca among the best performers. Ferguson shares rise 2.9% after the plumbing and heating products distributor posted stronger 2021 pre-tax profits. Next gains 2.7% after the fashion retailer swung to a pre-tax profit for the first half and raised its full-year pre-tax profit and full price sales guidance. AstraZeneca rises 2.7% after the drugmaker said it has exercised its option to buy all remaining equity in U.S. biotechnology company Caelum Biosciences. Energy stocks such as Royal Dutch Shell and BP fall as oil prices drop after rising sharply in the previous session. Mining shares including Rio Tinto and Antofagasta decline on lower copper prices. (renae.dyer@wsj.com)

 
Companies News: 

UK Takeover Panel to Start Wm. Morrison Auction Procedure on Saturday

The U.K. Takeover Panel said Wednesday that it will start an auction procedure for grocer Wm. Morrison Supermarkets PLC on Saturday, given that neither of its bidders have declared their offers final, and in order to resolve the current competitive situation.

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Abrdn PLC Sells HDFC AMC Shares On Bombay Exchange for GBP268M

Abrdn PLC said Wednesday that it has sold 10.7 million shares of HDFC Asset Management Co. on the Bombay Stock Exchange for 268 million pounds ($362.8 million) net.

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Next Swung to a 1H Pretax Profit; Raises FY Guidance

Next PLC on Wednesday reported a swing to a pretax profit for the first half of fiscal 2022, and increased its full-year pretax profit and full price sales guidance amid stronger online sales.

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SSE Enters Japanese Offshore-Wind Market; Forecasts 1H Adj EPS Drop

SSE PLC said Wednesday that it has signed a deal to enter the Japanese offshore-wind market, and forecast lower adjusted earnings per share for the first half of the fiscal year.

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AstraZeneca to Buy Remaining Stake in Caelum Biosciences for $150 Mln

AstraZeneca PLC said on Wednesday that it will acquire the remaining equity in Caelum Biosciences Inc. for $150 million upon completion.

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Quiz Shares Drop on Significantly Lower FY 2021 Sales

Shares in Quiz PLC dropped on Wednesday after the company reported a significant decline in revenue for fiscal 2021 on lower sales, despite also noting that its sales from April to August rose significantly, approaching pre-Covid-19 levels.

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UK Watchdog Clears Auction Technology's Acquisition of Live Auctioneers

The U.K. Competition and Markets Authority said Wednesday that it won't refer Auction Technology Group PLC's acquisition of Live Auctioneers, LLC for a further review.

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Comptoir Posts 1H Loss, Says All Sites Are Profitable Since Reopening

Comptoir Group PLC on Wednesday reported a loss for the first half of the year, but said that all its sites are making a positive contribution at the profit level since reopening.

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Network International Holdings Sees 2022 Year-On-Year Revenue Growth at 27%-29%

Network International Holdings PLC said Wednesday that it expects year-on-year revenue growth for 2022 to be in the 27% to 29% range--excluding any contributions from DPO Group in 2021--and for its underlying Ebitda margin to be broadly flat year-on-year.

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CML Microsystems on Track to Meet FY 2022 Market Views

CML Microsystems PLC said Wednesday that it is on track to achieve market expectations for the year to March 31, 2022.

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SSP Group Sees 2H 2021 Revenue Around 37% of 2019's Levels

SSP Group PLC said Wednesday that it expects revenue for the second half of fiscal 2021 to be around 37% of 2019's levels, and that in the latest week revenue was around 57% of 2019's levels.

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Air Partner 1H 2022 Pretax Profit Fell

Air Partner PLC said on Wednesday that pretax profit for the first half of fiscal 2022 fell as revenue decreased, and that it expects performance for the year to be materially above market expectations.

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Amigo Says Current Collection Levels Are Strong

Amigo Holdings PLC said Wednesday that its collections have remained strong since its fiscal 2021 ended.

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Digital 9 Raises GBP275 Mln via Share Issue, More Than Expected

Digital 9 Infrastructure PLC said Wednesday that it has raised 275 million pounds ($372.3 million) via a share placing which was GBP75 million higher than previously expected.

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B90 Holdings 1H Pretax Loss Widened on Higher Costs; Expects Better 2H Performance

B90 Holdings PLC on Wednesday reported a widened pretax loss for the first half of the year as higher costs offset a rise in revenue, but said it expects the company's performance to improve in the second half.

 
Market Talk: 

Housing Markets Are Booming But We Aren't Heading Into Another Financial Crisis

0757 GMT - It is an understatement to say that house prices have weathered the pandemic well, because housing markets are positively booming, Capital Economics senior economic adviser Vicky Redwood says. Prices have jumped particularly sharply since the pandemic started, she says. In the first quarter of 2021, they rose by 7% year-on-year in nominal terms, taking them significantly above their long-run trend. But the drivers of this rise in prices are rather different to those of the 2007 housing boom. For Redwood, this means that we aren't heading for a repeat of the housing-driven 2008-09 financial crisis. "Nonetheless, there are pockets of concern, and we would get more worried if it looked like interest rates were about to rise sharply," Redwood says. (maria.martinez@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

09-29-21 0434ET

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