UK Real-Time Indicators Point to Falling GDP in December

Real-time indicators, as well as the December U.K. composite purchasing managers' index falling to its lowest level since February, provide the clearest signs yet that the Omicron coronavirus variant has set back economic recovery, Pantheon Macroeconomics says. Driven by declines in consumer-services activity, Pantheon expects GDP will drop in December and January and cuts its forecast for U.K. GDP growth in the fourth quarter and 1Q to 0.6% and 0.0% respectively, from 1.0% and 0.8%. Pantheon expects a 0.6% on-month drop in December, followed by a further 0.3% drop in January, but that assumes no additional restrictions are imposed, the economic-research firm says. 


 
Companies News:

Caledonia Mining CEO to Step Down; CFO Mark Learmonth Appointed as Successor

Caledonia Mining Corp. said Tuesday that Chief Executive Officer Steve Curtis will retire from his role, effective June 30, and that Chief Financial Officer Mark Learmonth will succeed him in the role.

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Empresaria's 2021 Pretax Profit Seen to Be Significantly Ahead Market Views

Empresaria Group PLC said Tuesday that it currently expects to materially beat market expectations for its full-year pretax profit performance.

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River & Mercantile Says U.K. Regulator Extends Deadline on Offers for Firm

River & Mercantile Group PLC said Tuesday that the U.K.'s Panel on Takeovers and Mergers has extended the deadline by which AssetCo PLC and Premier Miton Group PLC are required to say whether they intend to make a firm offer for the company.

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Keywords Studios Buys Waste Creative Ltd., Wicked Witch Software for Up to $19.4 Mln

Keywords Studios PLC said Tuesday that it has acquired Waste Creative Ltd. and Wicked Witch Software Pty Ltd. to address increasing demand from its client base for games.

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GSTechnologies 1H Net Loss Widened, Revenue Rose on Resumed Operations

GSTechnologies Ltd. on Tuesday posted a widened net loss for the first half of fiscal 2022, but revenue rose as operations resumed.

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Crossword Cybersecurity to Acquire Cyber-Threat Company for GBP1.5M

Crossword Cybersecurity PLC said Tuesday it has agreed to acquire an undisclosed cyber-threat company for 1.5 million pounds ($2 million).

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ASA International Loan-Collection Efficiency Improved or Broadly Stable in Nov

ASA International Group PLC said Tuesday that loan-collection efficiency in November improved or remained broadly stable compared with the previous month in all countries in which the company operates.

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Immedia Says Performance in October, November Was Strong; Explores Sale of Main Unit

Immedia Group PLC said Tuesday that trading in October and November was among the best in the company's history due to the work done for participants at the COP26 summit in Glasgow.

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Gulf Marine Services Shares Rise After Contract Wins and Backed 2021 Ebitda

Gulf Marine Services PLC shares rose Tuesday morning after the company reported two new contracts for E Class vessels and said that its Ebitda guidance for 2021 remains unchanged.

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Roquefort Investments Falls on Discounted Share Placing

Shares in Roquefort Investments PLC fell Tuesday after the company said the gross proceeds of its discounted share placing are intended to be used to fund the cash consideration of the acquisition of the issued share capital of Lyramid Pty Ltd.

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Titon Holdings FY 2021 Pretax Profit Soared; Raises Dividend

Titon Holdings PLC said Tuesday its pretax profit for 2021 rose sharply, boosted by a strong performance while operations returned to normal activity, and increased its dividend payout.

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Nostrum Oil & Gas Shares Fall on the Terms of Potential Financial Restructuring of Senior Notes

Shares in Nostrum Oil & Gas PLC fell Tuesday after the company said that current talks regarding the terms of a potential financial restructuring of its senior notes include a significant reduction in the stake of its shareholders.

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Napster Group's Special Resolution to Cancel AIM Listing Passes at Meeting

Napster Group PLC said Tuesday that all resolutions presented at its general meeting passed, including the special resolution to approve the proposed cancellation of its AIM listing.

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Serabi Gold Says Sao Chico Gold Mine Shows Positive Prospects

Serabi Gold PLC said Tuesday that three new surface holes have been completed with significant intersections at Gabi Vein at the Sao Chico gold mine, in Brazil.

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Thinksmart Says Clearpay Sale Share Proceeds Won't Be Diluted

Thinksmart Ltd. said Tuesday that after its proposed Clearpay sale to Afterpay Ltd., the consideration shares it will receive won't be reduced for employee stock ownership plans.

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Atalaya Mining Acquires 51% Stake in Rio Narcea Nickel

Atalaya Mining PLC said Tuesday that it has agreed to acquire a 51% stake in Rio Narcea Nickel SL from Sacyr SA, as well as some additional investigation permits in Spain, for a total amount of EUR2.5 million ($2.8 million).

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Facilities by ADF Now Expects AIM Admission on Jan. 5

Facilities by ADF PLC said Tuesday that it now expects to be admitted to London's AIM on Jan. 5, with an anticipated market capitalization of 37.8 million pounds ($49.9 million).

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Grosvenor Resources to Buy Stake in Ironveld Subsidiary for GBP2.4 Mln

Ironveld PLC said Tuesday that Grosvenor Resources Pty Ltd. has agreed to acquire a 51% stake in its subsidiary Luge Prospecting and Mining Company Pty Limited for around 2.4 million pounds ($3.2 million).

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Rockhopper Shares Rise After Tribunal Rejects Italian Request in Arbitration

Rockhopper Exploration PLC shares rose Tuesday after it said that a tribunal in its arbitration against the Italian government has again rejected Italy's intra-European Union jurisdictional challenge. 


 
Market Talk:

How Far Should Richemont Go to Reach a YNAP Deal With Farfetch?

1002 GMT - Should Richemont commit its biggest brands to sales via Farfetch's online marketplace as part of a deal to deconsolidate its own, struggling, e-commerce platform YNAP? The deal may end up looking more beneficial for Farfetch, Bernstein suggests. The British-Portuguese luxury platform and the Swiss group are in talks over Farfetch taking a minority stake in YNAP, with a view to it becoming a neutral industry platform. For Farfetch, the prize of securing Richemont's powerhouse jewelers Cartier and Van Cleef & Arpels to its marketplace are more important than YNAP's valuation, Bernstein says. But it remains unclear if this would be a smart move for Richemont, since it would entail a move away from the brands' own digital sales operations, the brokerage adds.

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Omicron Variant Hits U.K. Economic Growth, Real-Time Data Suggests

0940 GMT - Purchasing managers surveys and near real-time indicators signal that the Covid-19 Omicron variant is already taking its toll on the U.K.'s economic recovery, Pantheon Macroeconomics says. Most indicators have weakened over the past few weeks, particularly in the consumer services sector, such as seated restaurant diner numbers, online searches for entertainment or personal-care venues, footfall at retail sites, or passengers in public transport, it says. "We now expect a month-to-month GDP contraction of 0.6% in December, and 0.3% in January," Pantheon says. As a result, the economic-research firm has revised down its forecast for the U.K.'s GDP growth in 4Q and 1Q to 0.6% and 0.0%, respectively, from 1.0% and 0.8% previously.

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

(END) Dow Jones Newswires

12-21-21 0630ET