The FTSE 100 index closed up 1.2% on Tuesday as the continued fall in U.S. inflation eased market concerns about further interest rate hikes. "Given expectations have been ratcheted back for interest rate increases amid concern the current rate hiking cycle is starting to break things in the financial system, the markets, the Federal Reserve and politicians will be desperate to see an easing of inflationary pressures," AJ Bell analyst Russ Mould said in a note. Rolls-Royce, who's confirmed it would build the nuclear reactors for Australia's first nuclear-powered submarines, was the day's biggest riser, up 7%, followed by Ocado and Hargreaves Lansdown, both up 4%. Fresnillo was down 1.5% as the session's biggest faller, followed by National Grid and Imperial Brands, both down 0.5%.


COMPANIES NEWS:

RS Group Appoints Simon Pryce as CEO

RS Group PLC said Tuesday that it has appointed Simon Pryce as chief executive officer from April 3.

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Costain Swung to 2022 Profit on Higher Volumes, Better Margins

Costain Group PLC said Tuesday that it swung to a 2022 pretax profit as revenue rose on higher volumes, inflation, improved Natural Resources profit and an improved operating margin.

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Sainsbury's to Buy Stores Freehold From Supermarket Income REIT

J Sainsbury PLC on Tuesday said it has agreed to buy the remaining 51% stake in investment vehicle Highbury and Dragon for 430.9 million pounds ($525.0 million) from Supermarket Income REIT PLC.

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Close Brothers 1H Operating Pretax Profit Fell Sharply After Booking Provisions

Close Brothers Group PLC said Tuesday that operating pretax profit for the first half of fiscal 2023 fell driven by increased provisions in relation to Novitas Loans.

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Pennon Group Sees FY 2023 in Line With Views

Pennon Group PLC said Tuesday that it expects to post results for fiscal 2023 in line with management expectations

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Molten Ventures Doesn't Expect Any Liquidity Hit From SVB Collapse

Molten Ventures PLC said Tuesday that it doesn't expect any meaningful liquidity hit from the failure of Silicon Valley Bank or Silicon Valley Bank UK Ltd., following HSBC Holdings PLC's purchase of the U.K. unit.

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TP ICAP Group 2022 Pretax Profit Rose as Volatility Boosted Trading Volumes

TP ICAP Group PLC said Tuesday that 2022 pretax profit rose as market volatility from geopolitical events during the year resulted in higher volumes and revenue, and that it remains well-positioned as interest rates remain high.

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Yu Group 2022 Pretax Profit Rose; Sees 2023 in Line With Views

Yu Group PLC said Tuesday that pretax profit for 2022 rose driven by a robust performance throughout the year, and resumed its dividend policy as business remains strong.

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Smart Metering 2022 Pretax Profit Rose Sharply on Rise in Installations

Smart Metering Systems PLC said Tuesday that pretax profit nearly doubled in 2022 as it increased its meter installation run-rate.

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Focusrite 1H Was in Line with Views Amid Resilient Demand

Focusrite PLC said Tuesday that profit for the first half of fiscal 2023 remained in line with the board's expectations and that its full-year outlook is unchanged amid improved margins.

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AdvancedAdvT 1H Pretax Loss Narrowed; Continues to Seek Investments

AdvancedAdvT Ltd. said Tuesday that its first-half pretax loss narrowed and that it continues to seek investment opportunities for high-quality businesses.

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Eneraqua Technologies Sees FY 2023 Revenue Rising but Below Market Views

Eneraqua Technologies PLC said Tuesday that it expects to report significantly higher revenue for fiscal 2023, but to miss market views, and adjusted earnings before interest, taxes, depreciation and amortization in line with market expectations.

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Volvere 2022 Profit from Continuing Operations Rose; Early 2023 Pressures Improving

Volvere PLC said Tuesday that pretax profit from continuing operations rose on record revenue though its discontinued business pulled it to an overall total loss, and macroeconomic challenges are beginning to ease in early 2023.

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Sabre Insurance 2022 Pretax Profit Drops on High Inflation

Sabre Insurance Group PLC on Tuesday posted a 66% fall in pretax profit for 2022 on inflationary pressures and said it expects an improvement in loss ratios across its businesses in the year ahead.

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Computacenter 2022 Results Delayed as Auditor Requests More Time

Computacenter PLC said Tuesday that its results for 2022 will now be published by March 31 as its auditor has requested further time to complete its procedures in relation to a Computacenter U.S. subsidiary.

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Virgin Wines 1H Pretax Profit Fell as Revenue, Ebitda Hit by One-Offs

Virgin Wines UK said Tuesday that pretax profit for the first half year of fiscal 2023 fell, as sales and earnings were hit by a number of one-offs, and that it won't recommend an interim dividend.

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Aptamer Group Shares Fall on Widened 1H Loss

Aptamer Group PLC shares fell Tuesday after it said posted a widened first half pretax loss and reduced revenue, though it expects to meet full-year market views for revenue.

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Fintech Asia To Buy InvesCore Financial In Reverse Takeover

Fintech Asia Ltd. on Tuesday said it has agreed to buy InvesCore Financial Group Pte. Ltd. in a transaction that would constitute a reverse takeover, leading to the temporary suspension of its shares.

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Genuit 2022 Pretax Profit Fell Amid Higher Nonunderlying Items

Genuit Group PLC said Tuesday that pretax profit for 2022 fell as it booked higher levels of nonunderlying items.

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Midwich 2022 Pretax Profit Rose on Strong Sales; Increases Dividend

Midwich Group PLC said Tuesday that 2022 pretax profit rose as sales were boosted by global organic growth and acquisitions, and proposed an increased dividend.

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Sovereign Metals Shares Fall After 1H Pretax Loss Widened, Plan Demerge Graphite Projects Outlined

Sovereign Metals Ltd. shares fell on Tuesday after the company reported a widened pretax loss for the first half of 2023 on the back of increased costs, and said it proposes to demerge its graphite projects.

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Croma Security Solutions 1H Profit, Revenue Rose; 2H Begins Well

Croma Security Solutions Group PLC said Tuesday that first-half pretax profit rose together with revenue, reflecting improved revenue from existing security centers, and that the second half has begun well.

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Eagle Eye Sees FY 2023 Results Comfortably Ahead of Views

Eagle Eye Solutions Group PLC said Tuesday that it sees revenue and core earnings in fiscal 2023 comfortably ahead of market views as it posted a rise in pretax profit for the first half the year on strong organic growth.

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Polarean Imaging Gains Access to Its Funds in SVB, Resumes Share Trading

Polarean Imaging PLC share trading was resumed on Tuesday after the group gained access to its funds with Silicon Valley Bank, which have been transferred into a new bridge bank.

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Gfinity's Shareholder Robert Keith Increases Stake

Gfinity said Tuesday that its shareholder Robert Keith has increased his participation in the company.

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PCI-PAL 1H Pretax Loss Widened on Higher Administrative Costs

PCI-PAL PLC on Tuesday reported a widened pretax loss for the first half of fiscal 2023 as it booked higher administrative costs and despite revenue rising.

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Inland Homes Appoints Matthew Robinson as Chairman

Inland Homes PLC said Tuesday that Matthew Robinson has been appointed as chairman with immediate effect.

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Xpediator Gets Further UK Takeover Panel Extension for Consortium Bid Proposal

Xpediator PLC said Tuesday that the U.K. Takeover Panel has granted an another extension to the consortium bid deadline until April 11, so that the parties can continue talks and the buyer can finalise its financing structure which has recently changed.

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ADVFN Conditionally Raises Further GBP2.0 Mln in Open Offer

ADVFN PLC said Tuesday that conditionally raised a further 2.0 million pounds ($2.4 million) via an open offer, to be used toward business development.

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F&C Investment Trust Writes Off GBP4.5 Mln Holding in Silicon Valley Bank

F&C Investment Trust PLC said Tuesday that it has written off a 4.5 million-pound ($5.5 million) holding in the collapsed Silicon Valley Bank.

MARKET TALK:

Close Bros Needs to Regain Market's Faith After Novitas

1239 GMT - Close Brothers Group falls 4% to 978 pence after the merchant-banking firm reported lower first-half operating profit due partly to increased provisions related to subsidiary Novitas Loans. Close Bros decided in 2021 to wind down legal-industry loan-provider Novitas and to withdraw from the legal-services financing market. Provisions excluding Novitas were modest, Panmure Gordon says. Still, the loan book was a touch lower than expected, forward-looking provisions rose, the economic outlook is mixed and markets continue to affect the group's asset-management and Winterflood Securities businesses. "After Novitas, there will have to be some time for the market to re-build trust in the model and the management," Panmure analyst Rae Maile writes, reiterating his hold recommendation and 1100p price target. (philip.waller@wsj.com)

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Virgin Wines 1H Profit Reflects Strength of Business Model

1151 GMT - Virgin Wines is making progress in tough times, Liberum analysts write in a research note. While one-offs hurt performance in the first half, a strong cash position puts the company on track to further growth investments, they say. "The delivery of profits in 1H despite the revenue shortfall reflects the strength of the Virgin Wines business model and the maintenance of guidance should provide confidence that many of the one-off issues are behind the group," the analysts say. The online wine retailer has maintained a very strong cash position, is debt-free and holding an appropriate level of inventory, which provides scope to assess new opportunities to invest in growth, Liberum says. (christian.moess@wsj.com)

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03-14-23 1339ET