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FTSE Down, Government Loans to Energy Suppliers Seen as Likely

01/18/2022 | 09:36am EDT

UK Government Loans to Energy Suppliers Seen as Likely

Some form of government loans to gas and power suppliers to cushion the effect of high energy prices on consumers was always the most likely outcome of any intervention, RBC Capital Markets says after reports that the U.K. government is exploring such payments to these companies. "With Boris Johnson's government lagging in the polls, a populist move to help the cost of living for the electorate is likely, in our view," RBC's analysts say.

 
Companies News: 

Anexo Group Sees 2021 Revenue Growth, Pretax Profit Ahead of Expectations

Anexo Group PLC said Tuesday that it expects to report 2021 revenue growth ahead of group forecasts and pretax profit significantly ahead of market expectations.

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Just Group Expects 2021 Capital Generation to More Than Double

Just Group PLC said Tuesday that capital generation for 2021 is expected to more than double from the prior year, and that it would beat the board's expectations a year earlier than anticipated.

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PRS REIT Home Completions, Rent Value Rose in 2Q; Declares Dividend

PRS REIT PLC said Tuesday that its completed homes and rental value rose in the second quarter of fiscal 2022, and declared an interim dividend.

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Cyba Shares Rise After Potential Acquisition's NFT Price Soars

Shares in Cyba PLC rose Tuesday after it noted the extreme price increase of the non-fungible token Nectar of its potential acquisition PolySwarm.

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Ashtead Technology Holdings Sees 30% Revenue Rise for 2021

Ashtead Technology Holdings PLC said on Tuesday that it expects to report a 30% rise in revenue for 2021, and that it looked forward to further progress through 2022.

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Crossword Cybersecurity Sees 2021 Revenue Growth of 43%, 2022 Revenue Growth of 75%

Crossword Cybersecurity PLC said Tuesday that it expects to report revenue growth of 43% for 2021 after strong core cybersecurity consulting and product related performance, and revenue growth of 75% for 2022.

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Ascent Resources Raises GBP0.6 Mln via Equity Issue

Ascent Resources PLC said Tuesday that it has raised 0.6 million pounds ($818,760) via share issue.

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Alfa Financial Software Holdings Plans Buyback Program of Up to GBP18 Mln

Alfa Financial Software Holdings PLC said on Tuesday that it was planning a share-buyback program of up to 18 million pounds ($24.6 million) as future cash projections show the continued generation of more cash than it needs for its growth plans.

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Kape Technologies CFO to Step Down

Kape Technologies PLC said Tuesday that Chief Financial Officer Moran Laufer is stepping down to pursue other interests.

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Alliance Pharma Expects to Beat 2021 Adj Pretax Pft Views, Boosted by Kelo-Cote Results

Alliance Pharma PLC said Tuesday that it expects an adjusted pretax profit for 2021 to be above market expectations, boosted by an outperformance in its Kelo-Cote product.

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Distribution Finance Loan Book Rose in December; Sees 2021 Loss Narrowing

Distribution Finance Capital Holdings PLC said Tuesday that its loan book increased by a record amount in December and its now sees its full-year pretax loss being narrower than it had expected.

 
Market Talk: 

UK Cryptocurrency Ad Crackdown Seen Having Limited Impact

1412 GMT - The U.K. government's plans to join Spain and Singapore in cracking down on cryptocurrency advertising may have a limited impact in preventing consumers from being misled, AJ Bell says. "While the move will help some people, it won't stop the outright scams that have exploded off the back of bitcoin and other cryptos soaring in price," AJ Bell's Laura Suter says. Clamping down on social media accounts where people claim to have made millions from buying bitcoin would have a bigger impact, she says. An overwhelming number of people hear about cryptocurrencies through social media whereas very few are encouraged to buy it from an advert, she says. Bitcoin falls 3.9% to a one-week low of $41,330, according to FactSet.

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Watkin Jones's Pipeline Gives 'Excellent' Revenue Visibility Over Next Few Years

1400 GMT - Watkin Jones's fiscal 2021 results were ahead of forecasts and it has again increased its pipeline, Davy Research says. The U.K. property developer's pipeline units within the 'build-to-rent' and 'purpose-built student accommodation' segments have an estimated future revenue value of GBP1.85 billion, reaching a record level and up from November's GBP1.75 billion, Davy says. The company has added one PBSA site of around 800 beds since November to its pipeline. Watkin Jones's pipeline now stands at 4,012 BtR units and 7,806 PBSA beds, giving the company excellent visibility on revenue over the next few years, the Irish research firm says. Davy has an outperform rating on the stock and a 265 pence closing price.

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Blancco Technology Benefits From Customer's ESG Focus

1302 GMT - Blancco Technology Group's boosted IT asset disposition is the biggest surprise upside in the data-erasure and mobile-device diagnostics company's first-half results, Peel Hunt says. Blancco's strong ITAD performance comes from companies looking for sustainable use of IT assets and the enterprise and mobile operations are also set for positive futures, it says. "We believe that as ITAD medium-term growth accelerates, enterprise receives the full benefit of recent partnerships, and mobile cracks SME segment, there will be more upgrades in the quarters and years to come, helped by the great operational gearing in the model," the U.K. brokerage says. Peel Hunt has a buy rating with a 335 pence target price. Blancco shares trade up 5.6% at 235 pence. (

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Carr's Group Looks Robust After Investment

1243 GMT - Carr's Group looks to have adapted well and remains in a robust position operationally and financially after its prior and continued investment across the business, Shore Capital says. The London-listed agriculture and engineering group has a global and diverse business model, and comfortingly, the agricultural market looks set to benefit from structural tailwinds in the near term, Shore says. Carr's is planning a strategic review of its divisions, and Shore says it will revisit the investment case in April if the company's operations dramatically change. "We believe the valuation at present remains fair, thus retain our hold recommendation at this juncture," the investment group says. Shares are up 1.1% at 157.5 pence.

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Experian Remains a Strategic Play, Shore Says

1234 GMT - Experian remains a strategic asset with strong guidance for the foreseeable future, but its share price is currently weak, Shore Capital says. The FTSE 100 credit-reporting agency has room to grow driven by the increase in critical data-services demand across the global economy, according to Shore. The U.K. investment group forecasts FY 2022 EPS will rise to 125.6 pence from 125.0 pence, and keeps a buy rating. Shares are down 1.7% to 3,043.0 pence.

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Petra Diamonds Shares Rise After Reporting Improved Debt Position

1156 GMT - Petra Diamonds is rapidly reducing net debt, showing that the company is returning to health, Peel Hunt says. Shares in the diamond producer rose 6.4% after it reported net debt of $154 million as of Dec. 31, which represents a $70 million improvement since June 30, the brokerage says. First-half revenue was also better than estimated by Peel Hunt, with all four mines showing higher-than-anticipated production rates. Petra is a corporate client of Peel Hunt.

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Rio Tinto 4Q Update to Cause Small Earnings Downgrades

1114 GMT - Rio Tinto's production report for the fourth quarter will result in small downgrades of consensus 2021 earnings, but will have a limited impact on 2022 forecasts, RBC Capital Markets says. Overall, the company's operations continue to meander and mine-capacity issues in iron ore are likely to weigh again in 2022, RBC says. In addition, the outlook for iron-ore prices remains challenging, the bank says. "With wider strategic questions and unresolved situations in Mongolia, Serbia and Guinea, we continue to prefer other exposures, like Glencore and Anglo American globally and BHP in Australia.

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Energean 2021 Update Was in Line, 2022 Outlook Misses RBC Views

1112 GMT - Energean's operational and financial figures for 2021 are in line with expectations, RBC Capital Markets says. However, the outlook for 2022 includes lower production and higher costs estimates, the bank says. In addition, higher 2022 spending and conservative production estimates are likely to put pressure on the oil-and-gas company's valuation. Still, shares rise 6.2% to 973 pence. RBC has an outperform rating on Energean with a 1,050 pence target price.


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

(END) Dow Jones Newswires

01-18-22 0935ET

Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC -1.60% 271 Delayed Quote.-28.57%
ALFA FINANCIAL SOFTWARE HOLDINGS PLC 2.81% 183 Delayed Quote.-3.43%
ALLIANCE PHARMA PLC 0.72% 112.6 Delayed Quote.3.49%
ANEXO GROUP PLC 1.18% 128.5 Delayed Quote.-4.46%
ANGLO AMERICAN PLC 1.48% 3812.5 Delayed Quote.26.09%
ASCENT RESOURCES PLC 0.00% 3.65 Delayed Quote.-1.35%
ASHTEAD GROUP PLC 2.59% 4120 Delayed Quote.-30.66%
BITCOIN (BTC/EUR) 1.51% 27046.6 End-of-day quote.-35.65%
BITCOIN (BTC/USD) 1.46% 29013.5 End-of-day quote.-39.22%
BLANCCO TECHNOLOGY GROUP PLC 0.00% 205 Delayed Quote.-11.83%
ENERGEAN PLC -1.55% 1334 Delayed Quote.56.02%
EXPERIAN PLC 3.34% 2695 Delayed Quote.-25.80%
FTSE 100 0.27% 7585.46 Delayed Quote.2.72%
GLENCORE PLC 1.35% 526.2 Delayed Quote.40.34%
GOLD -0.01% 1852.7 Delayed Quote.1.28%
JUST GROUP PLC -0.18% 82.75 Delayed Quote.-0.66%
KAPE TECHNOLOGIES PLC 1.47% 345 Delayed Quote.-24.18%
LONDON BRENT OIL 1.52% 119.2 Delayed Quote.50.58%
MSCI SINGAPORE (GDTR) 0.97% 5632.99 Real-time Quote.-11.14%
PETRA DIAMONDS LIMITED 0.00% 111 Delayed Quote.50.00%
RIO TINTO PLC 1.47% 5714 Delayed Quote.16.56%
S&P GSCI GOLD INDEX 0.18% 1081.34 Real-time Quote.1.38%
SILVER 0.00% 22.1 Delayed Quote.-5.50%
THE PRS REIT PLC 1.11% 109 Delayed Quote.-0.91%
WTI 0.94% 115.083 Delayed Quote.51.34%
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