FTSE 100 Falls to 2.5-Month Low on Ukraine Worries

0858 GMT - The FTSE 100 falls to a two-and-a-half-month low of 7113 points, according to FactSet, on growing fears over the Russia-Ukraine conflict. "Risk assets lurched lower once more following reports of an attack on a nuclear plant in Ukraine, while commodities continued their rise amid the inflationary impacts of the conflict," Interactive Investor analyst Richard Hunter says in a note. Melrose Industries is the worst performer on the FTSE 100, falling 7.1%, after the buyout group said it would delay a shareholder payout in light of Russia's invasion of Ukraine. Paper and packaging group Mondi, which has operations in Russia, drops 6.4%. Travel, financial and retail stocks are also on the back foot. (renae.dyer@wsj.com)


 
Companies News: 

D4t4 Solutions Extends Share Buyback Program by Three Months

D4t4 Solutions PLC said Friday that its board has decided to extend its share buyback program for a further three months.

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Hammerson 2021 Loss Narrowed as Adjusted Earnings Rose

Hammerson PLC on Friday reported a narrowed loss for 2021 as its adjusted earnings more than doubled.

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Ten Lifestyle Expects FY 2022 Adjusted Ebitda to Be Below Expectations

Ten Lifestyle Group PLC said Friday that it expects adjusted Ebitda for the fiscal 2022 to be below expectations, but revenue to be in line with views and that the impact of Russia and Ukraine conflict on its business is limited.

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Malvern International Reaches Deal on Restructuring of Debt

Malvern International PLC said Friday that it has successfully negotiated the restructuring of its 2.6 million-pound ($3.5 million) debt facility.

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Malvern International Warns of Lower Full-Year Revenue on 2H Hit

Malvern International PLC said Friday that its performance in the second half of 2021 was hit by international traveling restrictions, with revenue in the period and the year expected to be lower than in the first half and 2020.

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Verici Dx Plans GBP10 Mln Fund Raising for Strategic Development

Verici Dx PLC said Friday that it is planning to raise around 10 million pounds ($13.3 million) via a share placing and subscription, and will use the money towards its strategic development plan over the short term. The developer of clinical diagnostics for organ transplant said that it will be issuing at least 28.6 million new ordinary shares at 35 pence each via a bookbuild process. The price is a 6.7% discount to Thursday's closing price of 37.5 pence.

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Chill Brands Says 2022 Revenue to Be Hurt by Supply Chain Delays, Seeks for US Partner

Chill Brands Group PLC said Friday that it expects revenue for fiscal 2022 to be lower due to supply chain delays, and that is looking for a partner in the U.S. for manufacturing its products.

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Morgan Advanced Materials Swung to 2021 Pretax Profit, Sees 2022 Revenue Growth of 4%-7%

Morgan Advanced Materials PLC said Friday that it swung to pretax profit in 2021 driven by a recovery on the market, increased its dividend payout, and said it expects organic revenue growth this year.

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Borders & Southern Seeks $1.8 Mln Equity Raise to Develop Gas Discovery

Borders & Southern Petroleum PLC said Friday that it intends to conduct a fundraising of up to $1.8 million to appraise and develop its Darwin gas and condensate discovery in the Falkland Islands.

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Supply@Me Nonexecutive Chairman James Coyle Resigns; Shares Fall

Shares in Supply@Me Capital PLC fell on Friday after the company said that Nonexecutive Chairman James Coyle has resigned with immediate effect and is leaving the company for personal reasons.

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FBD Holdings 2021 Pretax Profit Soared, Declares Dividend

FBD Holdings PLC said Friday that pretax profit for 2021 soared on lower claims and declared a dividend payout.

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UK Watchdog Could Clear CVS Group's Acquisition of The Vet, Considering Undertakings

The U.K. Competition and Markets Authority said Friday that it could accept undertakings provided by CVS Group PLC to address its concerns over the company's acquisition of The Vet.

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Royal London Mutual Insurance 2021 Pretax Profit Rose, Assets Under Management Reached New High

Royal London Mutual Insurance Society Ltd. on Friday reported an increase in pretax profit and assets under management for 2021.


 
Market Talk: 

Oil Is Set for Biggest Weekly Gain in Nearly Two Years

0859 GMT - Crude oil prices rise, ending a wild week on a quiet note, as the market balances lost Russian supply with expectations of extra barrels from Iran. Brent crude is up 0.3% at $110.82 a barrel and on course for an 18% gain for the week, its biggest since April 2020. Around 1.5 million barrels a day of oil and 1 million barrels a day of oil products from Russia have been lost after Russia's invasion of Ukraine caused many crude buyers to avoid dealing with the country, UBS says. That has sent prices rising, but the rally has been capped by expectations an Iran nuclear deal is close, which could ease tight energy markets with additional Iranian supply. (william.horner@wsj.com)

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Copper Inventories Look Set to Be Depleted, Upward Price-Pressure Likely

0326 GMT - Copper inventories look set to be depleted, Goldman Sachs says, pointing out that a significant copper deficit of 297,000 tons last year could likely be followed by another deficit of 197,000 tons this year. There could be further volumes lost due to Russia's invasion of Ukraine, placing upward pressure on prices of the industrial metal, it adds. "We believe that in an environment of extremely tight fundamentals, current investor positioning is surprisingly limited and therefore we see no overhang for fresh longs," Goldman says. It reiterates its recommendation to go long on December 2023 LME copper, and on the December 2022/December 2023 spread. (yongchang.chin@wsj.com)

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Value of BP's Stake in Rosneft is 'Close to Zero,' BP Board Member Says

1357 ET - The value of BP's stake in Russian oil company Rosneft Oil Co. is "close to zero," BP board member John Sawers said at a joint event held by WSJ's CEO Council and WSJ's CFO Network. The British oil major on Sunday said it plans to exit its roughly 20% stake in government-controlled Rosneft. "We've effectively walked away from our business in Russia," said Sawers, who also serves as executive chairman of consulting firm Newbridge Advisory and was formerly head of U.K. intelligence agency MI6. BP has said it plans to take significant noncash charges to reflect foreign-exchange losses it has accumulated since 2013-the year it acquired the 20% stake-and the revaluation of its stake as a financial asset instead of as an equity interest on the books. (mark.maurer@wsj.com; @markgmaurer)


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

(END) Dow Jones Newswires

03-04-22 0424ET