FTSE 100 Led Higher by Mining And Energy Stocks

FTSE 100 Led Higher by Mining And Energy Stocks

0748 GMT - The FTSE 100 climbs 0.2% to 7553 points with mining and energy stocks leading the gains as commodity prices rise. Mining shares Anglo American, Glencore and Rio Tinto are among the top risers along with energy giants Shell and BP. "Oil is attempting to stage a rebound amid the prospect of fresh Western sanctions against Russia, potentially further tightening an already fragile outlook for supply," Interactive Investor says. Metal prices including silver, gold and copper also rise. Experian shares drop 2.5% after Citigroup cut its rating on the credit data firm's stock to neutral from buy. Lloyds Banking Group falls 2.3% after RBC double-downgraded the lender to underperform. ([e-mail])

 
Companies News: 

Michelmersh Brick Holdings 2021 Pretax Profit Rose; Raises Dividend

Michelmersh Brick Holdings PLC said on Wednesday that pretax profit for 2021 rose, on the back of a robust gross margin performance, and that it raised its dividend payout.

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Team17 2021 Pretax Profit Rose; Warns on 2022 Revenue Hit From Ukraine War

Team17 Group PLC said Wednesday that 2021 revenue and pretax profit rose, but warned that the war in Ukraine is forecast to hit 2022 revenue by around 4 million pounds ($5.2 million).

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Electrocomponents Sees FY 2022 Revenue, Adjusted Operating Profit Margin, at Top End of Consensus

Electrocomponents PLC said on Wednesday that it expects revenue and adjusted operating profit margin for fiscal 2022 to be at the top end of consensus, and that it has continued to perform at the same rate as that reported on March 9.

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Bloomsbury Sees FY 2022 Trading Materially Ahead of Upgraded Expectations

Bloomsbury Publishing PLC said Wednesday that trading for fiscal 2022 is materially ahead of upgraded expectations after strong sales and the mitigation of print supply chain issues.

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Keywords Studios 2021 Pretax Profit Rose; Declares Dividend

Keywords Studios PLC said on Wednesday that 2021 pretax profit rose driven by higher demand, as it expects 2022 to be a strong year for new game launches.

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Polymetal Suspends, Delays Projects in Russia

Polymetal International PLC said Wednesday that it is delaying or suspending some of its projects in Russia and reducing its exploration budget.

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Ebiquity 2021 Pretax Loss Widened After Acquisition Costs

Ebiquity PLC said Wednesday that its pretax loss for 2021 widened after booking costs of 7.9 million pounds ($10.3 million) relating to the 2020 acquisition of Digital Decisions.

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John Menzies Agrees to GBP571 Mln Takeover by National Aviation Services, Agility

John Menzies PLC said Wednesday that it has agreed to a 571 million pound ($747.7 million) takeover by National Aviation Services and Agility Public Warehousing Co., as flagged last month.

 
Market Talk: 

Sterling Seen as Vulnerable After BOE Rate Rise Bets Adjust Lower

0727 GMT - The recent scaling back of interest rate rise expectations for the Bank of England seems to have left sterling vulnerable and unable to fully benefit from improved sentiment surrounding the Ukraine war, ING says. EUR/GBP rises to a three-month high of 0.8487. EUR/GBP could rise further, testing the 0.8500 resistance level by the end of the week, ING analysts say. However, there probably isn't enough fundamental justification for EUR/GBP to trade consistently above 0.85 as the European Central Bank lags the BOE in raising rates and the Ukraine war is likely to hit the eurozone economy harder than the U.K., they say. "A gradual return to the 0.83-0.84 region looks more likely into the summer." ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

03-30-22 0404ET