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FTSE 100 Rises as Miners, Mondi Gain

10/07/2021 | 02:43am EST

FTSE 100 Rises as Miners, Mondi Gain

The FTSE 100 Index rises 0.9%, or 65 points to 7061 as miners gain after upbeat trading in Asia and on Wall Street. Antofagasta, Anglo American and Fresnillo are among the mining sector's highest risers as precious-metal prices increase and as economic optimism boosted the market mood. Paper and packaging group Mondi advances 2% after third-quarter underlying Ebitda rose. Stocks rebounded across Asia, with Hong Kong's Hang Seng up 3% and Japan's Nikkei 225 rising 0.5%. "Talk of at least a short-term solution to the debt ceiling from Republican leader Mitch McConnell helped U.S. markets to make headway and futures continue to look strong this morning," IG analysts say.

 
Companies News: 

Motorpoint Group 1H 2022 Pretax Profit, Revenue Rose

Motorpoint Group PLC said on Thursday that pretax profit for the first half of fiscal 2022 rose 30%, and that revenue for the period was up 57% following continued strong consumer demand for used vehicles.

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Revolution Bars: 11 Week Sales Rose 17% Vs Two Years Ago

Revolution Bars Group PLC said Thursday that same-site sales for the 11 weeks ended Oct. 2 were 17% higher than two years ago, but cautioned that any escalation of the Covid-19 pandemic and associated restrictions could hurt corporate Christmas parties.

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Sosandar's 1H Revenue Rose Materially

Sosandar PLC said Thursday that revenue for the first half of fiscal 2022 rose significantly, surpassing its performance for fiscal 2021 as a whole.

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Volution Group FY 2021 Revenue, Profit Rose

Volution Group PLC said Thursday that revenue and earnings increased in fiscal 2021.

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Pendragon 3Q Performance Was Strong; Raises 2021 Underlying Pretax Profit Guidance

Pendragon PLC said Thursday that its third-quarter performance was strong and that it was raising its underlying pretax profit guidance for the year.

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Sureserve FY21 Performance Back to Prepandemic Levels

Sureserve Group PLC said on Thursday that its performance in fiscal 2021 returned gradually to prepandemic levels, and that it expects to report results for the year in line with management's expectations.

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Tavistock Investments' Net Asset Value Rose Significantly

Tavistock Investments PLC said Thursday that its net asset value rose to 8.5 pence a share (11.55 cents) as at Aug. 31 from 2.59 pence as at March 31.

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Mercantile Ports & Logistics 2020 Revenue Rose, Pretax Loss Widened

Mercantile Ports & Logistics Ltd. said Thursday that revenues increased but that its pretax loss widened in 2020, as it restarted operations amid the backdrop of a pandemic that severely hit the shipping industry.

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Victorian Plumbing Expects to Beat FY 2021 Adj Ebitda Forecasts

Victorian Plumbing Group PLC said Thursday that it expects to report a market-beating adjusted Ebitda for fiscal 2021 following a strong performance during the first three quarters of the year.

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Hardide 2H Revenue Expected to Be in Line With 1H

Hardide PLC said Thursday that revenue for the second half of fiscal 2021 will be in line with the first, and that its loss before interest, taxes, depreciation and amortization should meet expectations.

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Impax Asset Management: 4Q Assets Under Management Rose

Impax Asset Management Group PLC said Thursday that assets under discretionary and advisory management rose in the last quarter of fiscal 2021.

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Workspace Group Says Customer Demand Improved During 2Q 2022

Workspace Group PLC said Thursday that customer demand improved during the second quarter of fiscal 2022 with a strong pickup in September, and that it has collected 97% of rent for the quarter to date.

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Central Asia Metals 3Q Copper Production Above 2Q

Central Asia Metals PLC said Thursday that its third-quarter copper production was above that of the second quarter, and that it was on track to achieve the top end of its 2021 copper production guidance at the copper-recovery plant in Kazakhstan.

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Ramsdens Holdings Says 2H Performance Was Resilient

Ramsdens Holdings PLC said Thursday that its performance was resilient in the second half of fiscal 2021 as a result of its diversified business model and income streams.

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Thruvision Expects to Post Fall in Revenue for 1H

Thruvision Group PLC said Thursday that it expects to report a fall in revenue for the first half of fiscal 2022, and that it is in discussions with U.S. Customs and Border Protection about potential orders for the second half of the year.

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Royal Dutch Shell Warns of Hurricane Hit, Expects Cash Boost from Power Prices -- Update

Royal Dutch Shell PLC said Thursday that Hurricane Ida's impact in the Gulf of Mexico hit its operations but it expects a cash boost from high global energy prices in the third quarter.

 
Market Talk: 

Shell Says Hurricane Hit Output By 90,000 Barrels a Day

0745 GMT - Royal Dutch Shell PLC says Hurricane Ida curbed its oil and natural gas production and earnings in the third quarter, noting a 90,000 barrel a day impact on its upstream unit. The integrated gas business is expected to produce between 890,000 barrels of oil equivalent a day and 950,000 barrels, says Shell. Production from its upstream unit is expected at between 2.03 million barrels of oil equivalent a day and 2.1 million, the company says. "Upstream and integrated gas volumes, even if guided as low due to maintenance and outages, were impacted less than expected," says Giacomo Romeo, analyst at Jefferies.

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Shell Says Hurricane Ida Cost $400 Mln

0716 GMT - Royal Dutch Shell PLC says Hurricane Ida cost the company around $400 million, mostly in its oil and gas production unit. "The magnitude of this looks broadly in line with expectations," says Biraj Borkhataria, analyst at RBC Capital Markets. The hurricane damaged a platform which transfers oil and natural gas from Shell's Mars corridor to onshore terminals. Repairs are expected to keep the platform offline until the end of the year, the company says, which has a knock-on impact to production from the facilities it connects to.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

10-07-21 0443ET

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