The FTSE 100 closed up 0.1% Monday amid hopes that interest rate rises may end soon, while the market also awaits key economic and company figures as earnings season gets underway. "Today has felt a bit like investors on both sides of the pond have been treading water waiting for a barrage of numbers heading our way. From jobs and inflation figures that should help us take the temperature of the U.K. economy, to trading updates from household names that will give us a clearer global picture, the next few days should be enlightening," AJ Bell analyst Danni Hewson said in a note. IAG was the session's top riser, up 3%, followed by RS Group and Weir Group, up 2.9% and 2.4%, respectively.
COMPANIES NEWS:
Tekcapital Raises GBP2 Mln to Develop Portfolio
Tekcapital PLC said Monday that it has raised 2.0 million pounds ($2.5 million) in an oversubscribed placing, with the proceeds to be used to develop its portfolio.
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Omega Diagnostics Sees Widened FY 2023 Ebitda Loss on Lower Production Yields
Omega Diagnostics Group PLC said Monday that it expects to report that its fiscal 2023 Ebitda loss widened on the back of lower-than-expected production yields and higher raw-material costs.
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John Wood Group to Engage With Apollo to See if Firm Offer Can Match Final Offer
John Wood Group PLC said Monday that it has decided to engage with Apollo Management Holdings LP to see if it can make a firm offer for the company on the same terms as its final offer.
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Network International Could Recommend Consortium Offer Proposal of 387 Pence a Share
Network International Holdings PLC said Monday that it has received a 387 pence-a-share takeover proposal from Capital Partners Ltd. and Francisco Partners Funds that it would be minded to recommend to shareholders if a formal offer was made.
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S4 Capital Executive Chairman Martin Sorrell to Have Preventative Medical Treatment Following Tumor
S4 Capital PLC said Monday that Executive Chairman Martin Sorrell will have preventative medical treatment over the coming months, but that he should be able to work as normal for most of that time.
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PageGroup 1Q Gross Profit Rose on EMEA Performance
PageGroup PLC said Monday that gross profit in the first quarter of 2023 rose driven by growth in its Europe, Middle East and Africa market, and it expects full-year operating profit to meet market expectations.
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Quiz FY 2023 Profit Rose on Higher Demand, Warns of Increasing Headwinds Ahead
Quiz PLC said Monday that it expects to report that pretax profit for fiscal 2023 rose on the back of higher consumer demand, but warned of increasing headwinds in the coming year.
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Ashmore Assets Under Management Rose Slightly in 3Q
Ashmore Group PLC on Monday said that its assets under management rose 1% over the third quarter of fiscal 2023.
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QinetiQ Sees FY 2023 Beating Guidance, Market Views
QinetiQ Group PLC said Monday that it expects fiscal 2023 results to exceed both previous guidance and market consensus expectations.
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Nuformix Raises GBP70,000 in Discount Share Subscription
Nuformix PLC said Monday that it has raised 70,000 pounds ($86,905) through a discounted share subscription with a single investor, to advance its NXP002 program.
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Cerillion Books Record 1H Revenue, Earnings on Strong Demand
Cerillion PLC said Monday that its performance in the first half of fiscal 2023 was strong, with new records for revenue and adjusted Ebitda on strong demand.
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Cordel 3Q Ebitda Loss Narrowed; Confident on FY 2024 Growth
Cordel Group PLC on Monday posted narrower core earnings for the third quarter of fiscal 2023 as its revenue rose while costs declined and said its growing sales pipeline gives it confidence for growth in fiscal 2024.
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Deepverge's Reported 2022 Revenue Inflated Due to Accounting Error
Deepverge PLC said Monday its issued revenue figure for 2022 was inflated due to an accounting error.
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Renold Sees FY 2023 Profit, Margin Materially Ahead of Views
Renold PLC on Monday said it expects to report that its underlying trading profit and margin for fiscal 2023 was materially ahead of market views as its strong performance momentum continued into its fourth quarter.
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Thor Explorations 1Q Nigeria Mine Production Slips; Backs 2023 Guidance
Thor Explorations Ltd. said Monday that first-quarter production at its Segilola Gold mine in Nigeria slipped on quarter, and backed its 2023 production guidance.
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Intercede Sees FY 2023 Profit Improvement on Revenue Beat, Cost Control
Intercede Group PLC said Monday that it expects to report that fiscal 2023 profit rose on the back of increased revenue and cost control.
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SysGroup FY 2023 Revenue Increased on Organic Growth, Acquisitions
SysGroup PLC said Monday that revenue rose in fiscal 2023 on organic growth and acquisitions.
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Supreme Sees FY 2023, 2024 Ahead of Market Views
Supreme PLC said Monday that performance for fiscal 2023 is anticipated to beat market expectations on the back of both organic growth and acquisitions.
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Ebiquity Appoints Julia Hubbard as CFO
Ebiquity PLC said Monday that it has appointed Julia Hubbard as chief financial officer with effect on 28 April.
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Griffin Mining 1Q Production Rose on Quarter
Griffin Mining Ltd. on Monday said production hit a record for any first-quarter since the commissioning of the Caijiaying mine in China in 2005.
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Diaceutics 2022 Pretax Profit Rose on Growing Demand
Diaceutics PLC said Monday that pretax profit rose 22% in 2022 partly due to a rise in demand, as the company continues to shift toward a platform-based subscription model.
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Access Intelligence FY 2022 Pretax Loss Narrowed as Revenue Rose
Access Intelligence PLC said Monday that its pretax loss narrowed and revenue jumped in fiscal 2022 following the integration of Isentia.
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Surface Transforms Shares Rise After Seeing Return to Profit in 2Q
Surface Transforms PLC shares rose Monday after it said it should return to profitability in the second quarter of 2023, though its 2022 pretax loss widened on higher costs despite more-than-doubled revenue.
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THG PLC Shares Rise After Confirmation of Apollo Global Management Bid Approach
Shares of THG PLC rose 16% on Monday after the company said that it has received a takeover proposal from Apollo Global Management Inc.
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Carlyle enters bidding war for Manchester United -- Financial News
As auction for Premier League club enters final stretch, a number of US financial institutions are understood to be mulling a minority or debt investment in the club
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Greencore Director, CFO Emma Hynes to Step Down in May
Greencore Group PLC said Monday that Director and Chief Financial Officer Emma Hynes will step down and that the board has started looking for a new CFO.
MARKET TALK:
Sterling Unlikely to Fall Much if Rate-Rise Bets Trimmed
1156 GMT - The market could scale back Bank of England interest-rate expectations if U.K. data this week point to slowing inflation and flatlining economic growth but this will only be modestly negative for sterling, Monex Europe says. The impact of lower rates should be offset by the reduced risk of overtightening policy, Monex forex analysts say in a note. "For this reason, whilst the immediate response to next week's data may be volatile, simply given the large number of data points for markets to digest, we ultimately do not foresee sterling moving too far from recent trading ranges, at least under its own steam." U.K. employment data are due Tuesday, followed by inflation figures Wednesday and purchasing managers surveys Friday. (renae.dyer@wsj.com)
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Consolidated Buyout Bid Seen as Positive Sign for Frontier Communications
1101 GMT - Searchlight Capital Partners' and British Columbia Investment Management's offer to buy Consolidated Communications for $4 a share bodes well for rival Frontier Communications, New Street Research analyst Jonathan Chaplin says in a research note. Frontier is better positioned than Consolidated to access more capital if needed to fund its ongoing fiber buildout, Chaplin says. Factoring in Consolidated's valuation and Frontier's advantages, Chaplin says Frontier could be valued as high as $73 a share by 2026, when they are expected to reach their target of 10 million fiber locations. (Will.Feuer@wsj.com;@WillFOIA)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
04-17-23 1257ET
