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FTSE 100 Rises as Miners Gain; Kingfisher Tumbles

11/19/2021 | 05:11am EST

FTSE 100 Rises as Miners Gain; Kingfisher Drops

0900 GMT - The FTSE 100 Index rises 0.3%, or 25 points to 7280 as gains for miners offset losses for U.K. home-improvement retailer Kingfisher. Anglo American, Antofagasta, BHP and Rio Tinto advance as copper and other base-metal prices rise. Still, Kingfisher is the biggest faller, down 4.4% after saying third-quarter year-on-year sales fell. Meanwhile, BP and Royal Dutch Shell shares are up as the price of a barrel of Brent crude increases 0.6% to $81.76. (philip.waller@wsj.com)

 
Companies News: 

Ryanair Confirms LSE Delisting

Ryanair Holdings PLC said Friday that it is delisting from the London Stock Exchange, which is expected to become effective on Dec. 20.

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GB Group Raises Around GBP305 Mln Via Discounted Placing; Shares Drop

Shares in GB Group PLC on Friday fell after the company said it has raised gross proceeds of around GBP305 million via a discounted share placing and subscription of shares.

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GB Group to Acquire Acuant for $736 Mln Enterprise Value; Proposes Placing

GB Group PLC said Thursday that it intends to acquire Acuant Intermediate Holding Corp., and proposed a placing and retail offer to raise up to 305 million pounds ($411.4 million).

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Unilever to Sell Lipton Tea to CVC Capital for $5 Billion

Unilever PLC has agreed to sell the bulk of its tea business to CVC Capital Partners for EUR4.5 billion, equivalent to more than $5 billion, the consumer-product giant's latest move to jettison slower-growing parts of its business.

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Halma Buys Healthcare-Services Provider Infinite Leap for $30 Mln Upfront

Halma PLC said Friday that it has acquired Infinite Leap Inc. for its CenTrak medical sector business.

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Kingfisher 3Q Sales Fell But Beat Pre-Pandemic Equivalent; Upgrades FY Guidance

Kingfisher PLC said Friday that sales fell on year in the third quarter of fiscal 2022, but rose compared with the equivalent pre-pandemic period two years earlier, and that its fourth quarter has started well.

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Wincanton Posts Higher 1H Profit; Sees Full-Year Earnings In Line With Views

Wincanton PLC on Friday reported an improved profit for the first half of the fiscal year, and said that it remains on track to meet expectations for the whole year.

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Carclo Swung to 1H 2022 Pretax Profit; FY Performance Seen Above Expectations

Carclo PLC said Friday it swung to a pretax profit for the first half of fiscal 2022 on strong performance that is expected to continue for the full year.

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Octopus Renewables to Raise GBP73.9 Million for Potential Acquisitions

Octopus Renewables Infrastructure Trust PLC said Friday that it plans to raise up to 73.9 million pounds ($99.8 million) via an equity issue, and that it will use the funds to acquire renewable-energy projects across Europe.

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Van Elle Says 1H Revenue Grew; Sees Full-Year Performance in Line With Views

Van Elle Holdings PLC said Friday that its revenue for the first half of fiscal 2022 rose, and that it expects its performance for the full year to be in line with market expectations, despite supply-chain challenges.

 
Market Talk: 

Centrica Shares Gain After Spirit Energy Sale Report

0938 GMT - Centrica shares rise 0.9% following a report claiming the U.K. owner of British Gas was nearing a deal to sell its share of exploration-and-production business Spirit Energy to private-equity backed Norwegian energy company Sval Energi. Centrica, which holds a 69% stake in Spirit, and Sval declined to comment, Reuters reported. RBC Capital Markets says it isn't clear what the $400 million price tag relates to and could be just for the Norwegian assets within Spirit, rather than the full U.K. and Norwegian portfolio. "Despite the fact that $400m therefore looks light versus our GBP450m valuation for CNA's share of Spirit, we still think this newsflow will be positively received," RBC analyst John Musk says. (philip.waller@wsj.com)

Kingfisher Had Steady 3Q; Supply, Cost Issues May Weigh

0916 GMT - Kingfisher's third-quarter was steady rather than "blow-out", Interactive Investor says. The U.K.-listed home-improvement retailer's quarterly like-for-like sales were down 2.4% year-over-year, but topped forecasts nearer to a fall of 3% and are up 15% on a two-year pre-pandemic comparison, the trading firm says. "Overall, and less favorably, vaccinations and increased travel opportunities going into 2022 could see DIY spending sacrificed in favor of holiday plans," Interactive analyst Keith Bowman says. "Broader product-supply challenges and rising raw-material costs are worth remembering, with around 25% of its cost of goods sold coming from Asia." Shares fall 4.6%. (philip.waller@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

11-19-21 0511ET

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