FTSE 100 Rises After Strong US Close

0852 GMT - The FTSE 100 rises 0.2% to 7784 points after U.S. equities closed sharply higher on Friday. U.S. stocks rose after Federal Reserve Governor Christopher Waller said he favors slowing the pace of interest-rate rises to 25 basis points at the next meeting while Netflix rallied after well-received results and as Google parent Alphabet gained after announcing job cuts. With several Asian markets closed for the Lunar New Year, U.K. stocks followed the lead of Friday's U.S. finish, notching early gains to leave the FTSE 100 ahead by 4.5% so far this year, Interactive Investor analyst Richard Hunter writes. "In early exchanges, progress was measured but cautious, with Associated British Foods, Persimmon and Antofagasta lifted by broker upgrades." (renae.dyer@wsj.com)


 
Companies News: 

Barclays Names John Kingman as Chair of Barclays Bank UK

Barclays PLC on Monday said it has appointed John Kingman as chair of Barclays Bank UK effective June 1, succeeding Crawford Gillies.

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Endeavour 2022 Production Hit Top End of Estimates; Names New CFO

Endeavour Mining PLC said Monday that 2022 gold production reached the top end of its estimates, and named Guy Young as its incoming chief financial officer.

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Dignity Agrees to GBP281 Mln Takeover by Consortium

Dignity PLC said Monday that it has agreed to a 281 million-pound ($348.3 million) takeover by Yellow (SPC) Bidco Ltd., a new company owned or controlled by a consortium comprised of SPWOne V Ltd., Castelnau Group Ltd. and Phoenix Asset Management Partners Ltd.

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Saga PLC in Talks to Sell Its In-House Insurer

Saga PLC on Monday said it is in discussions to sell its underwriting business to reduce its debt.

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Dignity Sees 2022 Profit Dropping on High Costs, Pivot to Lower-Priced Products

Dignity PLC said Monday that it expects to report that 2022 underlying revenue and operating profit fell on year amid shifts toward lower-priced products, and increased costs and investment.

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DG Innovate to Raise up to GBP0.5 Mln to Fund Development

DG Innovate PLC said Monday that it is seeking to raise up to 500,000 pounds ($619,700) via a share subscription and broker option, and will use the money toward its development.

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tinyBuild Sees 2022 Revenue in Line With Views

tinyBuild Inc. said Monday that 2022 revenue was in line with expectations and that the board was looking to 2023 with confidence.

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Audioboom 2022 Adjusted Earnings, Revenue Rose

Audioboom Group PLC said Monday that adjusted earnings and revenue for 2022 rose, and that it has secured advance advertising bookings of more than $44 million for 2023.

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Everyman Media Says 2022 Revenue, Ebitda Significantly Rose

Everyman Media Group PLC said Monday that revenue significantly rose on year in 2022 despite a reduced slate of films over the year, and that Ebitda is expected ahead of current market forecasts.

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Chemring CFO Andrew Lewis to Retire

Chemring Group PLC said Monday that Chief Financial Officer Andrew Lewis will retire from the board and that his notice period is 12 months.

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TouchStar Expects 2022 Earnings, Cash Generation to Beat Expectations

TouchStar PLC said Monday that it expects to report core earnings and cash generation ahead of expectations for 2022, while pretax profit and revenue should be in line.

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Getech Group Expects 2022 Revenue Ahead of Market Views

Getech Group PLC said Monday that 2022 revenue will exceed market expectations, and that the board hasn't any plans to raise capital from shareholders as it has started 2023 with a strong balance sheet, sales pipeline growth, and good customer and partner momentum.

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Hellenic Dynamics On Track to Make Revenue in 2Q

Hellenic Dynamics PLC on Monday said it is on track for second-quarter revenue as it meets distributor demand and that it is confident about the future.

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Intercede Shares Jump as Fiscal 2023 Earnings, Revenue Expected to Beat Market Views

Shares of Intercede Group PLC rose on Monday after the company said it expects fiscal 2023 result ahead of market forecasts.

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Hansard Global Names Thomas Morfett as Incoming CFO

Hansard Global PLC said Monday that it has appointed Thomas Morfett as chief financial officer and executive director.

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Serica Energy Secures Two-Year Renewal of Rhum Field License

Serica Energy PLC said Monday that its license for the North Sea Rhum field has been renewed for a further two years by the U.S. Office of Foreign Assets Control to Jan. 31, 2025.

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Surgical Innovations Group Sees 2022 Revenue Ahead of Market Views

Surgical Innovations Group PLC on Monday said it expects its 2022 revenue to come in ahead of market views as it saw higher sales in the second half of the year with which the group will return to profitability.

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Vast Resources Shares Rise on Potential Progress in Historic Diamond Claim

Shares of Vast Resources PLC rose Monday after the company said that material progress could be made in relation to legal action over historic diamond claims in Zimbabwe.

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Invinity Energy Systems Sees 2022 Revenue in Line With Views

Invinity Energy Systems PLC said Monday it expects 2022 revenue to be in line with market expectations and that its current 2023 order book backlog of 22 million pounds ($27.3 million) underpins most of its current revenue expectations for the year.

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Novatek Oil, Gas Reserves Rose 7.1% in 2022

Novatek said Monday that its total proved oil and gas reserves increased 7.1% on year.


 
Market Talk: 

Endeavour Delivers Strong 4Q and 2023 Guidance, RBC Says

0840 GMT - Endeavour has delivered a solid update, with full-year guidance achieved for the 10th year in a row and 2023 guidance outlining robust output driven by flagship operations, albeit with a modest uptick on costs, RBC Capital Markets says. The mining company's production guidance for 2023 of 1.32 million to 1.43 million ounces of gold beat RBC estimates of 1.30 million, driven by strong output at Sabodala-Massawa, Ity, and Hounde, RBC analyst Wayne Lam says in a research note. Endeavour investors are expected to react positively to this update and focus will now likely be on continued free cash flow generation and operational execution, the Canadian bank says. RBC retains its outperform rating and price target of CAD44.0 on the stock. Shares in London are up 1.0% at 2,000.0 pence. (joseph.hoppe@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

01-23-23 0414ET