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FTSE Closes Tuesday Up 1% on Weaker Dollar

07/19/2022 | 12:15pm EDT

FTSE closed Tuesday up 1% with its European peers also closing in green territory as market sentiment improved somewhat amid a weaker dollar, IG senior market analyst Joshua Mahony says in a research note. "The dollar strength that has dominated financial markets of late has been built on inflationary fears and the impact it will have on monetary policy going forward," he says. Declines in commodity markets are also helping to dampen the inflation fears, he notes. Informa leads the gains with an 5.9% increase after it announced the resuming of interim dividends following strong first-half results. Ocado was among the top fallers of the season, down 3.2%.

 
Companies News: 

Babcock International to Sell Part of Aerial Emergency Services Business for EUR136.2 Mln

Babcock International Group PLC said Tuesday that it has agreed to sell parts of its aerial emergency-services businesses for 136.2 million euros ($138.2 million) to funds managed by Ancala Partners LLP.

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Pebble Group Expects to Beat 2022 Expectations

Pebble Group PLC said Tuesday that it expects to perform ahead of current market expectations for 2022.

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Informa Sees Significant 1H Growth, Backs Full-Year Guidance

Informa PLC said Tuesday that it expects significant underlying revenue and adjusted operating profit growth in the first half, backed its full-year guidance and said it has acquired Industry Dive as part of its expansion plans.

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Liontrust Asset Management 1Q Assets Under Management Increased

Liontrust Asset Management PLC said Tuesday that assets under management increased in the first quarter of fiscal 2023, adding that it remains confident about the long-term outlook of its investments.

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Darktrace Expects FY 2022 Revenue Increase on Strong Demand

Darktrace PLC said Tuesday that it expects to report a rise in revenue for fiscal 2022 after booking strong demand.

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Hyve Group to Get GBP3 Mln on Ukrainian Business Sale

Hyve Group PLC said Tuesday that it will sell its Ukrainian business to ProExpo (Europe) Ltd. for up to 3 million pounds ($3.6 million) in a management buy-out.

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Yu Group Expects 1H Performance to Be Boosted by Investments Made

Yu Group PLC said Tuesday that it expects revenue to rise significantly in the first half of the year, driven by investments made in its systems and processes and despite the pressures facing the energy industry, with growth expected to continue throughout the year.

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Photo-Me International 1H Pretax Profit Rose as Costs Fell; Sees FY 2022 Revenue Growth

Photo-Me International PLC said pretax profit for the first half of fiscal 2022 rose after it booked lower costs, and that it expects revenue growth of at least 20% for the fiscal year.

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Wise 1Q Revenue Growth Boosted by Rise in Active Users, Volume

Wise PLC said Tuesday that growth in revenue for its first quarter of fiscal 2023 was supported by an increase in users and volume.

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Made.com Downgrades 2022 Guidance After 1H Sales Fell

Made.com Group PLC said Tuesday that sales in the first half of 2022 declined significantly on year amid worsening consumer sentiment, and that it is downgrading its guidance for the whole year.

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Biffa Awarded 10-Year Contract in Scotland

Biffa PLC said Tuesday that it has been awarded a 10-year contract to provide logistics, sorting and counting services in Scotland.

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Informa Sees Significant 1H Growth, Backs Full-Year Guidance -- Update

Informa PLC said Tuesday that it expects significant underlying revenue and adjusted operating profit growth in the first half, backed its full-year guidance and said it has acquired Industry Dive as part of its expansion plans.

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Kier Group Sees FY 2022 Results in Line Despite Macro Pressures

Kier Group PLC said Tuesday that it expects results for fiscal 2022 to be in line with management's expectations despite macroeconomic pressures.

 
Market Talk: 

Deliveroo's Strong Balance Sheet Should See It Make Progress

0916 GMT - Deliveroo's risk/reward profile now looks favorable given already aggressive negative sentiment toward the sub-sector and its particularly strong balance sheet, Berenberg analysts say in a research note. The U.K. food delivery company's reduced guidance reflects the difficult consumer environment, but it is well placed to capitalize as more capital-constrained competitors should be less aggressive, the analysts say. Deliveroo should be better insulated from the consumer spending pullback as its customer base is more premium, reflecting the fact that it is more London-centric, they say. Berenberg upgrades the stock from hold to buy with a target price of 140 pence. Shares are up 4.0% at 94.64 pence. (kyle.morris@dowjones.com)


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

07-19-22 1214ET

Stocks mentioned in the article
ChangeLast1st jan.
BABCOCK INTERNATIONAL GROUP PLC 0.29% 278.6 Delayed Quote.-12.55%
BIFFA PLC -0.48% 412 Delayed Quote.14.92%
DARKTRACE PLC -1.30% 295.1 Delayed Quote.-29.77%
DELIVEROO PLC -0.66% 84.76 Delayed Quote.-59.58%
HYVE GROUP PLC -4.02% 50.775 Delayed Quote.-45.87%
INFORMA PLC 2.49% 519.2 Delayed Quote.0.50%
KIER GROUP PLC 3.51% 67.9 Delayed Quote.-38.27%
LIONTRUST ASSET MANAGEMENT PLC 3.84% 731 Delayed Quote.-66.77%
THE PEBBLE GROUP PLC -1.09% 90.5 Delayed Quote.-31.70%
WISE PLC -4.79% 660.6 Delayed Quote.-12.69%
YÜ GROUP PLC 0.00% 202.5 Delayed Quote.-10.00%
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