FTSE 100 Gains as Miners, Builders Rise; Banks Fall

The FTSE 100 Index rises 0.2%, or 12 points to 7137 as gains for miners and construction stocks offset losses for banks. Anglo American, Glencore and Antofagasta are all higher as precious and some base-metal prices increase. Informa tops the risers, up 2.5% after brokerage Berenberg upgraded shares in the business publisher and conference organizer to buy from hold. House-builders Barratt Developments, Persimmon, Taylor Wimpey and Berkeley Group Holdings advance after an upbeat note on the sector from Jefferies. At the other end of the scale, banks HSBC Holdings, Standard Chartered, Lloyds Banking Group and NatWest are among the fallers. 


 
Companies News:

QinetiQ CFO David Smith to Retire; Carol Borg Named as Replacement

QinetiQ Group PLC said on Friday that Chief Financial Officer David Smith will retire on Nov. 30, to be replaced by Carol Borg on Dec.1.

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Gym Group Raises GBP31.2 Mln via Share Placing

Gym Group PLC said Friday that it has now raised 31.2 million pounds ($42.9 million) via the share placing first announced late Thursday.

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All Active Asset Capital Raises GBP150 Mln; Will Cancel AIM Trading

All Active Asset Capital Ltd. said Friday that it has raised 150 million pounds ($206.4 million) in total proceeds through placings, agreed to acquire a controlling interest in Sentiance NV and proposed cancelling its shares from trading.

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Distribution Finance's 1H New Loan Originations Rose Significantly

Distribution Finance Capital Holdings PLC said Friday that its second-quarter performance was strong, but that it expects to see a growth normalization through the second half of the year.

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Kazatomprom Plans to Extend 20% Production Cut Into 2023

NAC Kazatomprom JSC said Friday that it plans to maintain 2023 production at a similar level to 2022, extending a 20% production curtailment.

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GYG's Deadline for Harwood Capital Bid Extended Again

GYG PLC said Friday that the U.K. Takeover Panel has extended to July 23 the deadline for its second-largest shareholder Harwood Capital to give a firm intention to make an offer or walk away.

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CMOStores.com to Raise GBP27.3 Mln in London IPO

CMOStores.com Ltd. said Friday that it is raising 27.3 million pounds ($37.6 million) as part its initial public offering on London's junior AIM.

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LungLife AI Raises GBP17 Mln in London IPO

LungLife AI said Friday that it has raised 17 million pounds ($23.4 million) as part of its initial public offering on London's junior AIM.

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Grit Enters $25 Mln Loan Deal to Fund Kenyan Site Acquisition

Grit Real Estate Income Group Ltd. said Friday that it has entered a $25-million loan agreement with the International Finance Corporation in order to acquire and redevelop a warehousing and manufacturing facility in Nairobi, Kenya.

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I3 Energy 2Q Production Rose; Finishes First Well at Marten Hills

i3 Energy PLC said Friday that production rose in the second quarter, and it has finished drilling its first well at Marten Hills in Canada.

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Oilex Appoints Colin Judd as CFO

Oilex Ltd. said Friday that it has appointed Colin Judd as chief financial officer, effective as of Thursday, and it intends to appoint him as a director in due course.

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Chesterfield Resources Shares Fall on Discounted Share Placing

Shares of Chesterfield Resources PLC fell 9.5% on Friday after the company said that it has raised 800,000 pounds ($1.1 million) via the share placing first announced late Thursday, slightly more than planned. 


 
Market Talk:

Crest Nicholson's Confidence Leads to Upgrades

0828 GMT - House builder Crest Nicholson's chief executive and chief financial officer gave a confident performance in a sales briefing, and after its first-half results forecasts have ticked up to reflect new guidance, Jefferies says. The bank raised its forecasts for Crest's fiscal 2022 pretax profit by 7.8% to meet management guidance to around GBP125.4 million. That said, the fiscal 2023 earnings before interest and tax margin estimate is still below Crest's long-term ambitions given overhead costs on plans for legacy sites and new land, though upside remains from the spread of price over cost, the bank says. Jefferies retains its buy rating and raises its price target to 519 pence, from 510 pence. Shares are up 1.4% at 443.4 pence.

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UK Economic Recovery Could Be Losing Momentum

0720 GMT - Except for the composite PMI compiled by IHS Markit, most timely indicators signal that the U.K. economic recovery slowed sharply in June, say economists from Pantheon Macroeconomics. Both the Business Impact of Covid-19 survey, carried out by the Office for National Statistics, and the Clearing House Automated Payment System, which is compiled by the Bank of England and tracks card spending, paint a less upbeat picture. OpenTable data, which tracks bookings in the hospitality sector, are also consistent with a slowdown in households' spending after the initial jump in May. "We are sticking with our estimate that month-to-month growth in GDP slowed to about 0.5% in June, from 1.5% in May," Pantheon says.

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

(END) Dow Jones Newswires

07-02-21 0449ET