FTSE 100 Rises But Recovery Looks Tepid
1058 GMT - The FTSE 100 index rises 0.5% to 7371.62 in morning trade after heavy losses last week, though the recovery looks tepid as traders remain cautious about risks of recession. "After fresh set backs on Wall Street on Friday, stocks are forecast to gain a little ground, but sentiment is still expected to be subdued," Susannah Streeter, analyst at Hargreaves Lansdown says in a note. Miners and oil-linked companies are the main risers on U.K.'s blue-chip index, with precious-metal miner Fresnillo up 4.1% and BP up 2.7%, though retailers and property stocks are mostly lower as domestically-focused stocks fare badly. (jessica.fleetham@wsj.com)
Companies News:
CRH to Buy Back $300 Mln in Shares
CRH PLC said Monday that it will conduct a $300 million share buyback program.
---
Thruvision Confirms Breakeven Target After 1H Pretax Loss Narrowed
Thruvision Group PLC said Monday said its pretax loss for the first half of fiscal 2023 fiscal narrowed slightly as it posted an increase in revenue, and confirmed that it expects to break even in the full financial year.
---
Lookers Chairman Ian Bull to Step Down
Lookers PLC on Monday said its Chairman Ian Bull will step down from the role on Dec. 31 for personal reasons.
---
Insig AI 1H Pretax Loss Widened on Higher Costs
Insig AI PLC said Monday that pretax loss for the first half of fiscal 2023 widened after the company booked higher costs, and that directors weren't recommending dividend payments.
---
M.P. Evans Further Extends Share Buyback Program
M.P. Evans Group PLC said Monday that it will extend and increase the budget of its share buyback program.
---
Critical Metals PLC Acquisition of 100% of Madini Occidental Ltd
TIDMCRTM
---
LBG Media Expects 20% Rise in 2H Revenue
LBG Media PLC said Monday that it expects to report a 20% rise in second-half revenue despite the challenging economic environment.
---
Feedback Sees 1H Revenue Rising; Confident For FY 2023 Growth
Feedback PLC on Monday said its half-year revenue rose thanks to the extension to its pilot program contract in Sussex and said it is confident for continued growth for the rest of the year.
---
Camellia Agrees on Sale of Interest in ACS&T for GBP16.5 Mln Cash
Camellia PLC said Monday that it has agreed to sell its interest in ACS&T to HSH Coldstores Ltd. for 16.5 million pounds ($20 million) in cash payable at completion.
---
Angus Energy to Raise Around GBP7 Mln; Shares Fall
Shares in Angus Energy PLC fell Monday after the company said it will raise around 7 million pounds ($8.5 million) via a discounted share placing and a subscription.
---
Spire Healthcare Buys the Doctors Clinic Group for GBP12 Mln
Spire Healthcare Group PLC said Monday that it has bought the Doctors Clinic Group for 12 million pounds ($14.6 million) to further extend its presence in the U.K.
---
CentralNic Buys Website Portfolio for $5.2 Mln
CentralNic Group PLC on Monday said it signed an agreement to buy a portfolio of niche websites from multiple sellers for $5.2 million in cash.
---
Braemar Buys Southport Maritime for $7.3 Mln
Braemar PLC said Monday that it has bought Southport Maritime Inc. in the U.S. for an initial $7.3 million to expand its presence in the Americas.
---
Midatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM
Shares in Midatech Pharma PLC rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its AIM listing.
---
Star Phoenix Shares Fall on Inability to Publish FY 2022 Results, Share Suspension
Star Phoenix Group Ltd. shares fell Monday after it said it won't be able to publish its audited results for fiscal 2022 by Dec. 31 and that its shares will consequently be suspended from Jan. 3.
---
Angus Energy Raises GBP7.1 Mln; Shares Fall -- Update
Shares in Angus Energy PLC fell as much as 25% on Monday after the company said it raised around 7.1 million pounds ($8.6 million) via a discounted share placing and a subscription.
Market Talk:
European Stocks Gain as Traders Shrug Off Asia Losses
1041 GMT - European stocks gain as investors stay upbeat despite lower Asia trading and lingering economic concerns. The Stoxx Europe 600 and DAX rise 0.7%, the FTSE 100 advances 0.5% and the CAC 40 climbs 0.8%. Brent crude increases 1% to $79.85 a barrel, boosting oil stocks. IG futures data show the Dow opening at 33040, versus Friday's close of 32920. Asian markets mostly fell overnight, carrying on last week's theme, where rate hikes and economic growth concerns eventually sent equities lower, IG says. "While there's still scope for a rally into Christmas, this looks to be a fleeting bout of optimism, as worries about falling earnings and a recession in 2023 continue to stalk markets," IG analysts write. (philip.waller@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
12-19-22 0641ET
