FTSE 100 Falls as Investors Await US Jobs Data

The FTSE 100 falls 0.2% to 7106 points as traders look to July's U.S. nonfarm payrolls report for indications on when the Federal Reserve will start scaling back stimulus. The data are due at 1230 GMT on Friday with economists polled by the WSJ expecting an 845,000 increase in payrolls. Hikma Pharmaceuticals shares fall 3.8% after the drugmaker posted a rise in first-half pre-tax profit but a fall in the core gross margin. London Stock Exchange Group gains 3.8% after the stock-exchange and financial-information company reported a jump in first-half pre-tax profit and said it will meet its financial targets.


 
Companies News: 

London Stock Exchange Group 1H Pretax Profit Nearly Doubled

London Stock Exchange Group PLC reported Friday a nearly doubled pretax profit for the first half of 2021 and said it is confident in meeting its financial targets.

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Hikma 1H Pretax Profit, Revenue, Rose; Raises Guidance

Hikma Pharmaceuticals PLC said on Friday that pretax profit for the first half rose as revenue rose, and raised its guidance.

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ContourGlobal 1H Net Profit Fell 49%; Raises FY Adj Earnings Guidance

ContourGlobal PLC on Friday reported that its net profit nearly halved in the first half of the year, but raised earnings guidance for the whole of 2021.

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London Stock Exchange Group 1H Pretax Profit Rose, Expects to Hit 2021 Financial Targets -- Update

London Stock Exchange Group PLC reported Friday a nearly doubled pretax profit for the first half of 2021 and said that even though costs will increase in the second half as it continues integrating the acquisition of Refinitiv, it will still meet its financial targets.

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Civitas Continues to Perform as Expected, NAV Edged Up in 1Q

Civitas Social Housing PLC said Friday that it continues to perform in line with expectations and that its net asset value per share increased slightly in the quarter to June.

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Sanne Gets Extension to Cinven Takeover Deadline; Talks with Cinven, Apex Continue

Sanne Group PLC said Friday that the U.K. Takeover Panel has extended a deadline for Cinven Group Ltd. to make an offer for the company or walk away so that the two businesses can continue their talks. It added that Cinven is considering its options and the companies are working closely towards a possible offer.

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Caspian Sunrise Intends to Start Dividend Payments

Caspian Sunrise PLC said Friday that it is seeking shareholder approval for a capital reduction so that it can start paying dividends, and it proposed a $6.2 million debt-for-equity swap with its largest shareholder.

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Ixico FY 2021 Revenue, Ebitda Seen to Fall Amid Covid-19 Effects

Ixico PLC said Friday that full-year revenue and earnings before interest, taxes, depreciation and amortization are expected to decline because of the pandemic's effects on new bookings.

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Jubilee Metals FY 2021 Operational Earnings Soared

Jubilee Metals Group PLC on Friday reported that its operational earnings nearly tripled in fiscal 2021.

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Brave Bison Swung to 1H Pretax Profit

Brave Bison Group PLC said Friday that it swung to a first-half pretax profit after booking lower costs, and that it should be able to grow its fee-based revenue in the second half.

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Starcrest Signs Heads of Terms to Buy Up to 80% of National Training Company's Issued Share Capital

Starcrest Education the Belt & Road Ltd. said Friday that is has signed a legally nonbinding heads of terms for the acquisition of up to 80% of National Training Company Ltd.'s issued share capital.

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CyanConnode Holdings FY 2021 Pretax Loss Narrowed

CyanConnode Holdings PLC said Friday that its pretax loss narrowed for fiscal 2021 after booking lower costs, and that the board was pleased with the company's momentum into fiscal 2022.

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ReNeuron Appoints Oxford BioMedica's Catherine Isted as CFO

ReNeuron Group PLC said Friday that it has appointed Catherine Isted as chief financial officer.

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Sportech Plans to Return GBP35.5M via Tender Offer; Shares Rise

Shares of Sportech PLC rose as much as 12% in early trade Friday after the company said it plans to return 35.5 million pounds ($49.4 million) to shareholders via a tender offer for up to 47.02% of its issued share capital.


 
Market Talk: 

UK Construction Stocks Drop as House-Price Rises Ease

0906 GMT - U.K. house-builders drop after industry data showed house prices slowing on an annual basis, though they rose last month. Prices increased by 0.4% in July versus a 0.6% drop in June, according to mortgage lender Halifax. Still, the annual price increase fell to 7.6% compared to 8.7% in June, its lowest level since March. "Buyer activity should continue to ease over the coming months and a steadier period for the market may lie ahead," Halifax Managing Director Russell Galley says. FTSE 100-listed Rightmove, Berkeley, Barratt Developments, Taylor Wimpey and Persimmon are all lower, while FTSE 250 builders Bellway, Redrow and Vistry also fall.

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Sterling Extends Gains Vs Euro After BOE Decision

0857 GMT - Sterling extends its gains against the euro after the Bank of England on Thursday said some modest monetary policy tightening is likely to be necessary over the next two years. EUR/GBP falls 0.1% to a four-month low of 0.8480, according to FactSet. "The BOE delivered a slightly hawkish message yesterday, including a conclusion that some modest tightening may be necessary should things go to plan," ING analysts say. "That may be a small step for the BOE, but it is a giant leap compared to European Central Bank communication." EUR/GBP could reach the March low of 0.8470 if EUR/USD falls on a potentially strong U.S. nonfarm payrolls report at 1230 GMT, the analysts say.

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UK's Energy-Tariff Price Cap Increase Is Unsurprising

0810 GMT - The U.K.'s 12% increase in the price cap for energy bills is unsurprising and follows a 10% increase in the last update in April, RBC Capital Markets says. The lack of surprise is because commodity prices have risen strongly since the last update provided by the U.K. energy watchdog Ofgem, the Canadian bank says. Ofgem said Friday morning that the default variable tariff cap for U.K. domestic customers has been increased by GBP139 to GBP1,277 per year for the six-month period starting Oct. 1.

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Hikma Pharmaceuticals' Raised Guidance Seen as Likely to Turn Into EBIT Consensus Upgrade

0751 GMT - Hikma Pharmaceuticals' 1H results were strong and the company raised its U.S. generic guidance for both top-line and EBIT margin given its strong performance in the year-to-date, Jefferies says. For the group this will likely translate into a 3% to 4% upgrade to 2021's adjusted EBIT consensus, the U.S. bank says. "We were expecting a margin raise but believe a top-line is not in market expectations despite the share rally into results, so we expect a favorable share price reaction," the bank says. Jefferies rates the stock buy with a 2,870-pence target price.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

08-06-21 0546ET