FTSE 100 Rises as Sentiment Stays Positive
0802 GMT - The FTSE 100 rises 1% to 6990.86 in early trade, tracking gains elsewhere, with investors cheering Monday's U.K. government decision to reverse controversial tax cuts and optimism around the U.S. earnings season. "The latest rally in stocks has come following some better earnings from Bank of America, which have reassured markets about the strength of the U.S. consumer," analysts at IG say in a note. "Earnings season is now in full flow, and today sees updates from Goldman Sachs, Johnson & Johnson and Netflix," they say. Financial stocks are mostly higher while property stocks fall. (jessica.fleetham@wsj.com)
Companies News:
THG Shareholder SoftBank Sells Entire Shareholding for GBP31.4 Mln
THG PLC said late Monday that SoftBank Corp. has sold its entire interest in the company to Qatar Holding LLC and THG's Chief Executive and founder Matthew Moulding for 31.4 million pounds ($35.7 million).
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Ninety One's Assets Under Management Fell in 2Q
Ninety One PLC said Tuesday that its assets under management for the second quarter of fiscal 2023 decreased when compared with the previous quarter.
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Aveva Sees 1H Revenue Decline Amid Cost Increases
Aveva Group PLC said Tuesday that revenue for the first half of fiscal 2023 declined by a low-single-digit rate on year on an organic constant currency basis as costs increased significantly against the first half of the prior year, which was affected by Covid-19.
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FinnCap Gets Takeover Approach From Panmure Gordon; In Early Stage Talks
finnCap Group PLC said Tuesday that it has received a takeover approach from Panmure Gordon Group Ltd. and that talks between the companies are at an early stage.
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Moneysupermarket.com 3Q Revenue Rose; Sees 2022 Ebitda at Upper End of Market Views
Moneysupermarket.com Group PLC on Tuesday reported a 33% rise in third-quarter revenue and said it is guiding for Ebitda to be toward the upper end of market expectations for the year.
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Revolution Bars Delays Accounts Due to Substantial Transaction
Revolution Bars Group PLC said Tuesday that it is in the final stages of a "substantial transaction," and that its fiscal 2022 accounts will therefore be delayed at this time.
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888 Holdings 3Q Revenue Fell Following Netherlands Exit, Increased UK Player Safety Measures
888 Holdings PLC said Tuesday that third-quarter revenue fell on a pro forma basis following the acquisition of the international business of William Hill, primarily driven by enhanced U.K. online player safety measures and the closure of the Netherlands business.
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Bellway FY 2022 Pretax Profit Fell on Higher Provisions; Sees Demand Moderating
Bellway PLC said Tuesday that its pretax profit fell in fiscal 2022 due to increased safety provisions though revenue rose, and it has seen demand moderate going into fiscal 2023.
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Wise Upgrades FY 2023 Views After 2Q Revenue Rose 60%
Wise PLC said Tuesday that it has again upgraded its fiscal 2023 guidance, citing robust revenue growth during the second quarter.
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Advanced Oncotherapy Raises GBP6 Mln via Premium Subscription by Shareholder
Advanced Oncotherapy PLC said Tuesday that it is raising 6 million pounds ($6.8 million) via a premium share subscription by one of its largest shareholders, and will use the money to support its operations.
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CyanConnode Holdings Raises GBP500,000 for Working Capital Purposes
CyanConnode Holdings PLC said Tuesday that it has raised 500,000 pounds ($567,950) via a share subscription with an existing shareholder, and will use the money for working capital purposes.
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Ibstock Sees 2022 Performance Ahead of Views After Strong 3Q
Ibstock PLC said Tuesday that it expects performance for 2022 to be above its previous expectations after the third quarter was ahead amid robust demand patterns and strong operational performance.
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Sosandar Sees FY 2023 in Line With Views Following Robust 1H
Sosandar PLC said Tuesday that performance for fiscal 2023 is in line with expectations, backed by robust revenue and a profit increase during the first half.
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Lookers Lifts 2022 Profit Guidance; To Launch Buyback
Lookers PLC said Tuesday that its underlying pretax profit for the full year is expected to be materially ahead of its previous views, and said it will launch a share buyback program.
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PageGroup Names Nick Kirk as Chief Executive
PageGroup PLC said Tuesday that it has appointed Nick Kirk as its next chief executive, replacing Steve Ingham who is stepping down on Dec. 31.
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Angle to Close Canadian Facilities to Increase Cash Runway
Angle PLC said Tuesday that it plans to close its Canadian facilities, to streamline its operations and increase its cash runway.
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Mind Gym Sees 1H Revenue Rise on Growth, Strong Dollar
Mind Gym PLC said Tuesday that it expects to report a rise in first-half revenue after booking underlying growth in the U.S. and benefiting from the recent strengthening of the dollar.
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Up Global Sourcing Renews Russell Hobbs Trademark
Up Global Sourcing Holdings PLC said Tuesday that it has renewed its trademark license agreement with Spectrum Brands Holdings Inc., granting an exclusive license to use the "Russell Hobbs" trademark for nonelectrical kitchen and laundry products.
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Capital Ltd 3Q Revenue Rose on Robust Demand
Capital Ltd. said Tuesday that revenue for the third quarter rose on continued robust demand across blue-chip portfolio customers.
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IntegraFin Holdings 4Q Funds Under Direction Fell on Market Volatility
IntegraFin Holdings PLC said Tuesday that funds under direction for the fourth quarter of fiscal 2022 fell amid volatile markets, but performance has been resilient.
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Saietta Sees Positive Momentum, FY 2023 Revenue Soaring; Shares Rise
Saietta Group PLC shares rose Tuesday after it said it has seen significant positive momentum, and it expects revenue to greatly increase in fiscal 2023.
Market Talk:
Bellway Looks Well Prepared for Short-Term Turbulence
0728 GMT - Bellway is preparing itself for what is likely to be a demanding environment in the shorter term, Interactive Investor says. The U.K. house builder enjoys renewed flexibility for growth, long-term planning underpinned by a strong balance sheet and previous experience of difficult economic periods, Richard Hunter, head of markets at Interactive Investor, says in a research note. As with peers, however, its share price has fallen recently, reflecting investor pessimism on the sector rather than Bellway's robust earnings, he says. "The market consensus of the shares as a strong buy is reflective of the support which the company retains from potential investors, even if the share price disconnect is likely to stay in place for the time being," Hunter says. Shares are down 0.8% at 1,812 pence. (joseph.hoppe@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
10-18-22 0428ET
