FTSE 100 Rises as Miners, Financial Stocks Gain
0916 GMT - The FTSE 100 Index rises 0.4%, or 30 points to 7546 as miners and financial stocks rise after upbeat trading in China, though trading elsewhere in Asia was mixed. Chinese shares close more than 1% up while stocks in Hong Kong were flat and the Nikkei 225 closed lower. BHP, Anglo American and Rio Tinto are the mining sector's biggest risers while Scottish Mortgage Investment Trust, Barclays and Prudential also gain. Still, oil stocks trade mixed as Brent crude falls 0.9% to $92.44 a barrel. "Most markets in Asia were softer overnight, although Chinese indices rose as they returned from their new year break," IG analysts say. (philip.waller@wsj.com)
Companies News:
Taylor Wimpey Names Jennie Daly to Be Next CEO
Taylor Wimpey PLC said Monday it has appointed Jennie Daly as to be its next chief executive officer, succeeding Pete Redfern effective April 26.
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SpaceandPeople 2021 Revenue Rose on 2H Recovery
SpaceandPeople PLC said Monday that its 2021 revenue rose as its performance recovered in the second half, though its business was somewhat negatively affected by government coronavirus advice in the key December period.
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Gulf Marine Services Appoints Alex Aclimandos as CFO
Gulf Marine Services PLC said Monday that it has appointed Alex Aclimandos as chief financial officer with immediate effect.
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Water Intelligence Says 2021 Pretax Profit, Revenue Rose
Water Intelligence PLC said Monday that 2021 pretax profit and revenue rose, and that 2022 looked to be even more exciting for its stakeholders as January saw a strong start for the company.
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Lok 'N Store Says 1H Performance Was Strong; Occupancy and Pricing Improved
Lok 'n Store Group PLC said Monday that its performance in the first half of fiscal 2022 was strong, boosted by significant improvements in occupancy and pricing, and that self-storage revenue was up 34% on the previous year.
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Bodycote CFO Dominique Yates to Retire Once Successor Appointed
Bodycote PLC said Monday that Chief Financial Officer Dominique Yates will retire from the company once a successor has been appointed and an orderly handover of duties has been completed.
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Pets at Home to Appoint Lyssa McGowan as CEO
Pets at Home Group PLC said Monday that it has appointed Lyssa McGowan as chief executive officer with effect starting June 1, after current CEO Peter Pritchard said he will step down from the role in summer.
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Zinc Media Group Expects 2H Adj Ebitda to Beat Management Views
Zinc Media Group PLC said Monday that adjusted earnings before interest, taxes, depreciation and amortization for the second half of 2021 are expected to be above management views, and that it has started 2022 with new-business wins.
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Lamprell 2H Earnings Hit by Omicron, Adverse Weather
Lamprell PLC on Monday warned that its performance was hurt by the Covid-19 Omicron variant and adverse weather conditions in the second half of 2021, and said that it may raise further equity this year.
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Vaalco Energy Reports Successful Well Completion at Oil Field Offshore Gabon
Vaalco Energy Inc. said Monday that it has successfully completed the Etame 8H-ST oil well in the Etame field offshore Gabon.
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Argo Blockchain January Revenue, Bitcoin Mining Slips
Argo Blockchain PLC said Monday that its revenue and the number of bitcoins it mined in January fell compared to December.
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Science Group Appoints Jon Brett as Official Finance Director
Science Group PLC said Wednesday that Jon Brett, who had been appointed as the acting finance director of the board on Aug. 10, 2021, has now been named group finance director.
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Eleco CFO to Step Down Immediately; Interim CFO Appointed
Eleco PLC said Monday that Chief Financial Officer Robert Tearle is stepping down with immediate effect, and it has appointed Rose Clark as interim CFO.
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Great Portland Estates New Lettings Set Record High for Leasings
Great Portland Estates PLC said Monday that it has agreed upon a number of new lettings since Oct. 1, achieving record leasing rent for the fiscal year.
Market Talk:
New Taylor Wimpey CEO Seen as Welcome Surprise
0915 GMT - Taylor Wimpey's appointment of Jennie Daly as its incoming chief executive may come as something of a surprise, given she wasn't one of the names in early speculation after the announcement of current CEO Pete Redfern's planned departure, Goodbody says. The House builder says Ms. Daly, currently Taylor Wimpey's group operations director, has more than 30 years experience in the house building, land and planning industries, and has been working for the company since 2014. "Given the vast amount of experience that Ms Daly has in the sector and her reputation within Taylor Wimpey, we envisage that the appointment well be welcomed," Goodbody investment banking analyst Shane Carberry says. Shares are down 0.6% at 148.45 pence. (joseph.hoppe@wsj.com)
Pets at Home's New CEO Gives Confidence on Further Progress
0908 GMT - Pets at Home's appointment of Lyssa McGowan as chief executive officer is a high-quality and very experienced hire, which gives confidence about the company's future, Liberum says. The U.K. investment bank says McGowan has credentials on consumer, subscription and data/digital businesses, which corresponds with the pet-care company levers. The brokerage adds that Pets is positioned for multi-year benefits after making positive progress over past years. Liberum has a buy rating on the stock and a target price of 575 pence. Shares are up 0.3% at 409.0 pence. (michael.susin@wsj.com)
Tesco's Strategy to Price Match Aldi Is a Good One
0907 GMT - Tesco is following a good strategy with its commitment to price match Aldi, Shore Capital says. The U.K.'s biggest grocer by market share has already seen rating expansion, and the scope for growth could increase further in future years, Shore Capital says. The U.K. investment group also says that it values Tesco Chairman John Allan's 5% spring U.K. food inflation expectation, and that both Tesco and J Sainsbury are emerging as cash compounders. "Supermarkets can broadly handle real cost challenges, prevent material trading down...and so sutain out expectations for earnings and cash flows," Shore says. (sabela.ojea@wsj.com; @sabelaojeaguix)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-07-22 0433ET
