FTSE 100 Rises as Housing, Oil Stocks Gain
0913 GMT - The FTSE 100 Index rises 0.8%, or 58 points to 7625 as housing stocks and oil shares rise. Barratt Developments gains 1.9% and rival construction stocks advance after Barratt reported a slight rise in first-half pretax profit despite a fall in revenue and declared an interim dividend. BP and Shell are up as the price of a barrel of Brent crude increases 0.3% to $91.02. Still, miners are among a few fallers as gold and silver prices trade broadly flat and base-metal prices are mixed. Financial stocks are also on the slide, with Standard Chartered, HSBC, NatWest and Barclays in the red. (philip.waller@wsj.com)
Companies News:
Tate & Lyle Appoints Dawn Allen as CFO
Tate & Lyle PLC said Wednesday that it has appointed Dawn Allen as the new chief financial officer of the company.
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Land Securities to Invest GBP1.5B on Mixed-Use Neighborhoods Pipeline
Land Securities Group PLC said Wednesday that it plans to invest around 1.5 billion pounds ($2.03 billion) of capital expenditure on its mixed-use neighborhoods pipeline over the next five years.
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Capital Metals Intends to Raise GBP1.3 Mln
Capital Metals PLC said Wednesday that it intends to raise 1.3 million pounds ($1.7 million) via an equity issue.
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Barratt Developments 1H Pretax Profit Rose Despite Revenue Slip
Barratt Developments PLC said Wednesday that it had a slight rise in pretax profit for the first half of fiscal 2022 despite a fall in revenue, and declared an interim dividend.
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EN+ Group 4Q, 2021 Aluminum Output Rose Slightly
EN+ Group International PJSC said Wednesday that its aluminum production was slightly higher in the fourth quarter and in full-year 2021.
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Grainger Total Rent, Occupancy Grew in Early FY 2022
Grainger PLC said Wednesday that total rent and occupancy grew and rent collection remained high in the first four months of fiscal 2022.
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Photo-Me International Says1Q Performance Was Stronger Than Expected
Photo-Me International PLC said Wednesday that its performance for the first quarter of fiscal 2022 exceeded its expectations.
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GlaxoSmithKline 4Q Net Profit Grew on Higher Sales
British pharmaceutical giant GlaxoSmithKline PLC on Wednesday posted an increase in net profit and sales for the final quarter of 2021.
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John Menzies Rejects GBP468.7 Mln Takeover Approach From National Aviation Services
John Menzies PLC said Wednesday that it received a 468.7 million pound ($634.9 million) takeover approach from National Aviation Services Holding which it has rejected.
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Chesterfield Completes GBP700,000 Equity Raise
Chesterfield Resources PLC said Wednesday that it has raised 700,000 pounds ($948,150) via a share issue to fund exploration, working capital and the costs of seeking a secondary listing on the Toronto Stock Exchange.
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Dunelm Group's 1H Pretax Profit Rose Boosted by Higher Sales
Dunelm Group PLC reported on Wednesday a rise in pretax profit for the first half of fiscal 2022 as a result of stronger sales across its retail system and the outperformance of both homewares and furniture.
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System1 Group 3Q 2022 Revenue Rose
System1 Group PLC said Wednesday that revenue in the third quarter of fiscal 2022 rose 8%, and that profitability was in line with management's expectations.
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LV=, Royal London End Merger Talks
Royal London Mutual Insurance Society Ltd. and Liverpool Victoria Financial Services Ltd., known as LV=, separately said on Wednesday that their initial takeover talks have been ended.
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PZ Cussons Says 1H Pretax Profit Rose, Warns Cost Pressures Will Continue Into FY 2023
PZ Cussons PLC reported Wednesday an increase in pretax profit for the first half of fiscal 2022 despite lower revenue, and warned of cost pressures continuing into fiscal 2023.
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LXI REIT Doubles Share Issue to GBP250 Mln on Strong Investor Support
LXI REIT PLC said Wednesday that it has decided to double its target share issue size to 250 million pounds ($338.6 million) after receiving strong levels of investor support and upon considering its pipeline of opportunities.
Market Talk:
GlaxoSmithKline 4Q Figures Weren't a Surprise
0848 GMT - GlaxoSmithKline reported 4Q figures which were globally in line with consensus and didn't deliver any surprises, Bryan Garnier analyst Jean-Jacques Le Fur says. Group guidance for 2022 is difficult to read due to a different basis of comparison, meaning the U.K. pharmaceutical company gave guidance for its New GSK business (excluding Consumer Healthcare) without giving comparable figures for 2021, Le Fur says. Though difficult to read, the guidance appears in line with consensus expectations at least at a sales level, according to Le Fur. Glaxo's results should be viewed as positive during the day, the analyst says. Glaxo trades up 0.6% at 1,653.40 pence. (cecilia.butini@wsj.com)
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Smurfit Kappa's Pricing Strategy Seems Resilient
0826 GMT - Smurfit Kappa's 2021 earnings report on Wednesday highlights the resiliency of its products and pricing strategy, Citi says. The paper-based packaging company posted revenue and Ebitda above market consensus as it implemented progressive box price increases. However, the U.S. bank warns about the tight market dynamics of the sector, and notes that raw material availability and volatility in input prices could impact profit. Citi has a buy rating on the stock. Shares are up 2.5% to 4,055.0 pence. (michael.susin@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-09-22 0429ET
