FTSE 100 Rises With BOE Policy Decision in View

FTSE 100 Rises Ahead of BOE Policy Decision

0756 GMT - The FTSE 100 rises 0.3% to 7091 points as traders await the Bank of England's latest policy decision. The BOE announces its decision at 1100 GMT and is widely expected to leave its policies unchanged but investors will be looking for any hints on the timing of reining in stimulus. Deutsche Bank economists say they aren't expecting "big changes" in the central bank's meeting minutes and policy statement, but the "risks are shifting towards a more hawkish Monetary Policy Committee in the very near-term, with economic data tracking slightly better than the BOE expected in May." Meanwhile, Bunzl shares rise 2.5% after the U.K. distribution-and-outsourcing group said it expects higher first-half revenue and maintained its full-year revenue guidance. ([e-mail])

 
Companies News: 

Sage Commits to Net-Zero Emissions by 2040

Sage Group PLC on Thursday pledged to achieve net-zero emissions by 2040 and to halve its carbon emissions by 2030 as part of its new sustainability and society strategy.

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Rathbone Brothers Raises GBP50 Mln in Discounted Share Placing

Rathbone Brothers PLC said Thursday that it has raised 50 million pounds ($69.8 million) in a share placing aimed at funding the acquisition of Saunderson House Ltd.

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Bunzl Expects 1% Rise in 1H Revenue

Bunzl PLC said Thursday that it expects to report a 1% rise in revenue for the first half of 2021 at actual exchange rates and a 6% to 7% gain at constant exchange rates, and backed its revenue guidance for the year.

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John Wood Group Anticipates 12% Adjusted Earnings Drop for 1H

John Wood Group PLC on Thursday forecast that it will report a 21% revenue drop and a 12% decline in underlying earnings for the first half of 2021.

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Next 15 Says Current Trading Is Ahead of Management Expectations

Next Fifteen Communications Group PLC said Thursday that trading in the first four months of the fiscal year has continued ahead of management expectations.

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Lone Star Doesn't Plan Offer for Senior

U.S. private-equity investor Lone Star Global Acquisitions Ltd. said Thursday that it doesn't plan to make an offer for U.K. engineering company Senior PLC.

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Big Yellow Raises GBP100 Mln as Expected via Share Placing

Big Yellow Group PLC said Thursday that it has raised gross proceeds of around 100 million pounds ($139.6 million) as expected via a discounted share placing to expand its portfolio of acquisitions.

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XPS Pensions FY 2021 Profit, Revenue Rose

XPS Pensions Group PLC reported Thursday a rise in pretax profit for fiscal 2021 and said that its outlook is positive.

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STM Group Says Performance Remains in Line With Expectations

STM Group PLC said Thursday that it continues to perform in line with management expectations.

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Crest Nicholson Swings to 1H 2021 Pretax Profit

Crest Nicholson Holdings PLC said Thursday that it swung to a pretax profit for the first half of fiscal 2021 and that the board was confident the U.K. housing market will remain robust past the Sept. 30 stamp duty deadline.

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Tower Resources to Raise GBP50,000 via Share Subscription

Tower Resources PLC said Thursday that it plans to raise 50,000 pounds ($69,810) via a share subscription with its chairman and chief executive officer to boost its working capital while the company waits for funds from other sources, which is expected in the coming months.

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Tandem Says 25-Week Revenue Performance Was Positive

Tandem Group PLC said Thursday that its performance continued to be positive for the 25 weeks to June 22, with revenue being significantly ahead of the year-earlier period, and that the board is confident about delivering another strong year.

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LXI REIT to Raise GBP75 Mln to Fund Investment Opportunities

LXI REIT PLC said Thursday that it plans to raise 75 million pounds ($104.7 million) via a share placing and will use the money toward investment opportunities.

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Allergy Therapeutics' Operating Profit to Surpass Market Views

Allergy Therapeutics PLC said Thursday that its operating profit for fiscal 2021 is expected to be well ahead of market views, boosted by high sales.

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Westminster Group Expects 2021 Pretax Profit, Revenue to Meet Views

Westminster Group PLC said Thursday that the board expects 2021 pretax profit and revenue to meet expectations as restrictions are starting to ease, the company has recently secured contracts and has a strong pipeline.

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Round Hill Music Royalty to Raise Minimum $50 Mln to Fund Acquisitions

Round Hill Music Royalty Fund Ltd. said Thursday it plans to raise a minimum of $50 million via a C-share offer and will put the money toward acquisitions.

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Various Eateries Posts 1H Loss; Post-Lockdown Recovery Exceeds Expectations

Various Eateries PLC on Thursday reported a loss for the first half of the fiscal year, but said it has outperformed management expectations since pandemic-related restrictions were lifted.

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Ariana Resources Says Kiziltepe Production Remains in Line With Guidance

Ariana Resources PLC said Thursday that its Kiziltepe gold mine in Turkey continues to perform in line with guidance.

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Verditek Falls on Stock Shortfall Linked to Theft at Factory

Shares in Verditek PLC on Thursday fell after the company said that it has suffered a theft at its factory of Lainate, Milan, suffering a stock shortfall of around 300,000 pounds ($418,860).

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Vitec Group Shares Rise as 2021 Adjusted Pretax Profit Seen Above Market Views

Shares in Vitec Group PLC rose Thursday after the company said that full-year adjusted pretax profit is expected to be materially ahead current market expectations despite uncertainty regarding the effects of electronic component and raw material shortages.

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Blackstone Increases St. Modwen Properties Offer to GBP1.27 Bln

St. Modwen Properties PLC said Thursday that it has agreed an increased and final 1.27 billion pound ($1.77 billion) cash offer from Blackstone Group Inc.

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Robinson Year-to-Date Earnings Lower Than in 2020; Shares Fall

Shares in Robinson PLC fell Thursday after the company said that year-to-date earnings are lower than in the year-earlier period, and that this is a result of the short-term transitional effect of the rise in the price of resin.

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First Property Group Suspends Final Dividend After FY 2021 Loss, Shares Drop

Shares in First Property Group PLC fell Thursday morning after it reported a loss for fiscal 2021 and suspended the final dividend.

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UK Takeover Panel Agrees Extension to Augean, Morgan Stanley Takeover Deadline

Augean PLC said Thursday that the U.K. Takeover Panel has agreed to extend the deadline for Morgan Stanley Infrastructure Inc. to make an offer for the U.K. waste-management company or walk away in order that they can continue talks.

 
Market Talk: 

Sterling Could Fall if BOE Stays Accommodative

0707 GMT - Sterling could weaken if the Bank of England refrains from signalling it could scale back stimulus in a policy decision later, Commerzbank says. "I am not sure whether the BOE will send the signal the sterling bulls are hoping for," Commerzbank currency analyst Thu Lan Nguyen says. It might be too early to rein in support and the recent rise in inflation wasn't high enough, meaning there is "considerable potential for disappointment for sterling today," she says. GBP/USD is flat at 1.3969 and EUR/GBP rises 0.1% to 0.8546. The BOE's decision is at 1100 GMT. ([e-mail])

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(END) Dow Jones Newswires

06-24-21 0414ET