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FTSE 100 Retreats Again as Travel, Retail Stocks Fall

09/09/2021 | 04:44am EDT

FTSE 100 Drops as Travel, Retail Stocks Fall

0826 GMT - The FTSE 100 Index drops 0.9%, or 62 points to 7033, with airlines and travel stocks falling after easyJet announced a GBP1.2 billion rights issue and said it had rejected a takeover approach. IAG, TUI and Carnival are all among the biggest blue-chip fallers after easyJet announced the fund-raising, which it said would restore its balance-sheet position to pre-pandemic levels and boost cash. "In a surprise aside, the airline also said it had rejected an unsolicited preliminary takeover approach from a source it declined to name, though there are unconfirmed reports the suitor was Wizzair," CMC Markets analyst Michael Hewson says. Meanwhile, Sainsbury's and Tesco shares fall after rival Morrisons reported lower first-half pretax profit.

 
Companies News: 

EasyJet to Raise $1.65 Bln in Rights Issue

EasyJet PLC said Thursday that it would launch a fully underwritten rights issue to raise 1.2 billion pounds ($1.65 billion) and that it has secured a new $400 million credit line to repair its balance sheet and invest in growth.

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888 Holdings Acquires William Hill's Non-US Business for GBP2.2 Bln

888 Holdings PLC said Thursday that it has agreed to buy the non-U.S. business of William Hill Organization Ltd. from Caesars Entertainment Inc. for an enterprise value of 2.2 billion pounds ($3.03 billion).

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Wm. Morrison 1H Pretax Profit Fell on Covid-19 Costs -- Update

Wm. Morrison Supermarkets PLC reported Thursday a decline in pretax profit for the first half of fiscal 2022 due to higher direct costs linked to Covid-19, and said its guidance is unchanged.

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Computacenter 1H Pretax Profit, Revenue Rose

Computacenter PLC said Thursday that first-half pretax profit rose as revenue increased, and that it plans on surpassing 2020's second-half performance.

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Target Healthcare REIT Increases Share Issue Size to GBP125 Mln

Target Healthcare REIT PLC said Thursday that it has decided to increase the size of its share issue to 125 million pounds ($172.1 million), using the proceeds to continue its growth strategy.

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Funding Circle Holdings Swung to 1H Pretax Profit; Lisa Jacobs to Succeed CEO Samir Desai

Funding Circle Holdings PLC said on Thursday that it swung to a pretax profit for the first half as total income increased, and that Lisa Jacobs will succeed Samir Desai as chief executive officer from Jan. 1.

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Ecotricity Group Gets Further Support for Good Energy Offer

Ecotricity Group Ltd. said Thursday that it has received further valid acceptances representing 1.9% of Good Energy Group PLC shares for its takeover offer for the renewable-energy company.

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Genus Warns of FY 2022 Short-Term Headwind Due to Volatility in China's Porcine Market

Genus PLC reported Thursday a rise in pretax profit for fiscal 2021 but said that recent volatility in China's porcine market is expected to continue for some months and that this will create a short-term headwind in fiscal 2022.

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Cairn Homes 1H Pretax Profit, Revenue Rose on Strong Demand

Cairn Homes PLC said Thursday that pretax profit and revenue rose in the first half on the back of strong demand.

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Speedy Hire UK, Ireland August Core Hire Revenue 4% Ahead of Year-Prior Period

Speedy Hire PLC said Thursday that U.K. and Ireland core hire revenue for August was around 4% ahead compared with the same month in 2020 and around 3% ahead for the year-to-date.

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STV Group Swung to a 1H Pretax Profit, Returned to Pre-Pandemic Levels

STV Group PLC on Thursday reported a swing to a pretax profit for the first half of 2021, and said its outlook is positive.

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Spire Healthcare Swung to 1H Profit on Higher Revenue, Fewer Impairments

Spire Healthcare Group PLC said Thursday that it swung to a pretax profit in the first half of the year on higher revenue and significantly fewer impairments compared with the year-earlier period.

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Lookers Swung to 1H Profit on Growing Revenue

Lookers PLC said Thursday that it swung to a profit in the first half of 2021 on growing revenue.

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Lookers Appoints New Chairman, CFO

Lookers PLC said Thursday that it has appointed Ian Bull as its new nonexecutive chairman and Oliver Laird as the new chief financial officer of the company.

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Secure Income REIT Swung to 1H Pretax Profit on Coronavirus Recovery

Secure Income REIT PLC said Thursday it swung to a pretax profit in the first half of 2021 as a recovery from the effects of the pandemic drove up property values.

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Morses Club Says 1H Performance Was Strong, in Line with Market Views

Morses Club PLC said Thursday that its performance for the first half of fiscal 2022 was strong and in line with market expectations, and that it is confident about its outlook.

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National World Shares Soar on 1H Revenue Performance, FY Outlook

Shares in National World PLC reported on Thursday rose after the company posted significant revenue for the first half of 2021 and said that board expects to close the year in line with market views despite a rise in newsprint prices in the second half.

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Arecor Therapeutics Investigational New Drug Application Cleared by FDA, Phase 1 Trial Set

Arecor Therapeutics PLC said Thursday that the U.S. Food and Drug Administration has cleared its investigational new drug, or IND, application for AT247, its proprietary rapid insulin treatment for diabetes.

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EMIS Group 1H Pretax Profit Fell; Sees Meeting 2H Expectations

EMIS Group PLC said Thursday that first-half pretax profit fell after booking higher costs and that it expects to meet the board's expectations for the second half.

Contact: London NewsPlus, paul.larkins@wsj.com

(END) Dow Jones Newswires

09-09-21 0443ET

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