FTSE 100 Falls as Miners, Oil Stocks Drop

The FTSE 100 Index dropped 0.7% as miners and oil stocks fall after downbeat economic data from Asia. Glencore, Anglo American, Fresnillo and BHP are all lower as precious- metal prices retreat, though silver is slightly higher and some base metals make gains. Oil majors BP and Royal Dutch Shell lose ground as the price of Brent crude backtracks 0.3% to $74.06. "A raft of overnight data has seen a 5.9% contraction in Japanese industrial production and weaker Chinese services PMI," IG analysts said. "In Europe, a downward revision to the U.K. 1Q GDP confirmed a contraction of 1.6%. Looking ahead, a busy day sees eurozone CPI, followed by US ADP payrolls and crude inventories," they said.


 
Companies News: 

International Public Partnerships Targets GBP100 Mln in Fundraise

International Public Partnerships Ltd. said Wednesday that it intends to raise 100 million pounds ($138.4 million) through a tap issue, to repay drawn facilities and provide additional cash for its near-term transactions.

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Immotion Group Expects June Revenue of Over GBP700,000

Immotion Group PLC said Wednesday that it expects revenue in June to be over 700,000 pounds ($968,660) and that this should result in underlying earnings of GBP100,000.

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InfraStrata Says Revenue Performance Is Strong

InfraStrata PLC said Wednesday that its revenue performance for the first 11 months of fiscal 2021 was strong, adding that it expects to meet revenue views for the first half of fiscal 2022.

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Catenae Innovation Shares Fall on Widened 1H Loss, Low Traction for App

Catenae Innovation PLC shares fell Wednesday after it said that its first-half loss widened and revenue remained low due to changes to the U.K. government pandemic strategies.

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Dixons Carphone Swung to FY Pretax Profit as Online Sales Rose -- Update

Dixons Carphone PLC reported Wednesday a swing to a pretax profit for fiscal 2021 thanks to a significant rise in online sales and said that its new financial year continued to benefit from a strong performance and it is confident about its outlook.

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Tricorn Group Shares Fall After Warning on Funding Constraints

Shares in Tricorn Group PLC fell Wednesday after the company said it is considering some funding options, as its borrowing facilities alone won't provide it with the necessary cash to return to profitable cash generation.

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Rambler Metals & Mining Shares Rise on Financing Agreements

Shares in Rambler Metals & Mining PLC rose on Wednesday after the company said that it has agreed up to $50 million in financing to continue the underground development of its Ming Mine in Canada and pay off existing debts of $6.6 million.

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7Digital Group Shares Fall After Warning on Working-Capital Pressure

Shares in 7Digital Group PLC fell Wednesday after the company warned that pressure on short-term working capital and its reliance on anticipated revenue growth point to potential uncertainty about its future.

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Mercantile Ports & Logistics Granted Extension for Filing 2020 Accounts

Mercantile Ports & Logistics Ltd. said Wednesday that it has been granted an extension for the filing of 2020's accounts to Sept. 30 due to the disruption of the pandemic in India.

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Urban Logistics REIT to Raise GBP108 Mln for Investments

Urban Logistics REIT PLC said Wednesday that it intends to hold a share placing to raise around 108 million pounds ($149.5 million), in order to invest in a pipeline of mostly off-market opportunities.

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Vertu Capital to Reverse Into Vox Capital in GBP25.3 Mln Deal

Vertu Capital Ltd. said Wednesday that it has agreed to buy Vox Capital PLC for 25.3 million pounds ($35 million) in shares.

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Getech Makes Significant $536,000 Sale; Performance Is in Line With Market Views

Getech Group PLC said Wednesday that it has made a significant sale worth $536,000 of its geoscience data and a regional study package, and that it is performing in line with full-year market views.

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Wynnstay Group 1H Pretax Profit, Revenue Rose

Wynnstay Group PLC said Wednesday that profit and revenue for the first half rose, and that it expects a positive outcome for the second half.

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Ferrexpo to Repay Pre-Export Finance Facility Early on Strong Performance

Ferrexpo PLC said Wednesday that it plans to make an early repayment of an outstanding pre-export finance facility, reflecting its strong performance.

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Treatt CFO Richard Hope to Retire in One Year

Treatt PLC said Wednesday that Chief Financial Officer Richard Hope will retire from the business effective June 30, 2022, and that a process to find a successor will start shortly.

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Baltic Classifieds Shares Rise in London Market Debut

Shares of Baltic Classifieds Group PLC rose 3% as the company started conditional trading on the London Stock Exchange on Wednesday, implying a market capitalization of 850 million pounds ($1.18 billion).

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Zephyr Energy Says Initial Results From Utah Project to Drive Potential Upside

Zephyr Energy PLC said Wednesday that drilling will start at its flagship project in the Paradox Basin, Utah, after results from the recent evaluation work suggest scenarios for considerable upside.

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TP Group CEO to Step Down

TP Group PLC said Wednesday that Chief Executive Officer Phil Cartmell will step down, effective from the closure of this business day, and has appointed an interim CEO until a successor is found.

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South West Brands Plans London IPO for Undisclosed Amount

South West Brands PLC said Wednesday it intends to list on the London Stock Exchange, raising an undisclosed amount in its float to develop and add to its portfolio of assets.

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Saietta Group Eyes GBP102.1 Mln Valuation in London IPO

Saietta Group PLC, a U.K. electric-motor engineering company, expects to be valued at 102.1 million pounds ($141.3 million) at its initial public offering on London's AIM, according to a filing published Wednesday.


 
Market Talk: 

Dixons Carphone's Performance Drives Optimism About Outlook

0753 GMT - Dixons Carphone's results for fiscal 2021 and strong current performance offer further encouragement about the company's outlook, Liberum says. Dixons Carphone's pretax profit and net cash slightly beat guidance, the U.K. brokerage notes, adding that it still believes the electronics retailer's shares are very cheap for its potential. Liberum reiterates its buy recommendation on the stock and a target price of 175.0 pence a share.

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Dixons Carphone Online Sales Activity Is a Key Factor for Growth

0740 GMT - Dixons Carphone has performed much better than other retailers amid the coronavirus pandemic by boosting its online sales capacity, says James Andrews, personal finance expert at money.co.uk. "Over the past year, digital sales have grown by triple digit figures, backing up the sentiment that a smooth online buying process is imperative to its 2021 success," Andrews says. What the consumer-electronics retailer now has to do is retain customers' interest, Andrews says, noting that customers might not invest as much in technology as they did during the lockdown.

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

(END) Dow Jones Newswires

06-30-21 0450ET