FTSE 100 Steady as Traders Await US Inflation Data; AstraZeneca Rises
0906 GMT - The FTSE 100 index is steady at 7645.21 in cautious trade ahead of U.S. inflation data at 1330 GMT, where analysts say a strong reading could upset equity markets and put a stop to recent gains. Pharma giant AstraZeneca rises 3.8% as investors cheer fourth-quarter results. Informa is the biggest gainer, up around 4%, after the events and academic-publishing group said it expects to post a rise in revenue and adjusted operating profit for 2021 and that its performance for the current year has been strong. Prudential rises 1.3% after the company announced CEO will retire, though RELX falls 5.1% following full-year results.
Companies News:
Prudential CEO Mike Wells to Retire; Replacement to be Based in Asia
Prudential PLC said Thursday that Chief Executive Mike Wells intends to retire from the role at the end of March.
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Ashmore 1H FY2022 Assets Under Management, Pretax Profit Fell
Ashmore Group PLC said Thursday that assets under management and pretax profit fell for the first half of fiscal 2022, and that this reflected "the negative sentiment towards emerging-markets assets at this point in the cycle."
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Redrow 1H Pretax Profit, Revenue Rose; Increases Dividend
Redrow PLC said Thursday that pretax profit and revenue both rose in the first half of fiscal 2022, and raised its dividend.
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Beazley Swings to 2021 Profit, Forecasts Double-Digit Growth for 2022
Beazley PLC on Thursday reported that it swung to a profit in 2021, and expects to deliver continued double-digit growth this year.
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Unilever 2021 Net Profit Beat Views; Announces Share Buyback Worth Up to $3.43 Bln
Unilever PLC reported Thursday an increase in net profit for 2021, beating market expectations for the year, and said it plans to launch a share buyback program worth up to $3.43 billion.
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Watches of Switzerland 3Q Sales Rose on Stronger U.S., U.K. Luxury Demand
Watches of Switzerland Group PLC said Thursday that its performance for the third quarter of fiscal 2022 was strong, marked by solid demand across the U.K. and the U.S., which consistently exceeded supply.
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Goldplat 1H Operating Profit Grew 27%
Goldplat PLC said Thursday that its operating profit rose 27% in the first half, reflecting a strong performance in the second quarter of the fiscal year.
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M.J. Gleeson 1H Pretax Profit Rose; Expects to Beat FY 2022 Market Views
M.J. Gleeson PLC said Thursday that its first-half pretax profit and revenue rose, and that it sees its fiscal 2022 performance exceeding market expectations.
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Kin & Carta 1H Net Revenue Rose; 2H Seen Stronger
Kin & Carta PLC said Thursday that net revenue rose in the first half of fiscal 2022 as a result of a strong demand for its service, and said it expects further growth in the second half.
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S&U Expects FY2022 Pretax Profit to Be Above Market Expectations
S&U PLC said Thursday that fiscal 2022's pretax profit is expected to exceed market expectations, and that it expects 2022 to see a full rebound to normal motor sales conditions.
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AstraZeneca Swung to 4Q Loss Despite Revenue Rise; Expects $2.1 Bln Restructuring Charge
AstraZeneca PLC said Thursday that it swung to a fourth-quarter loss despite posting higher revenue as charges related to its acquisition of Alexion Pharmaceuticals weighed on earnings, and said it expects to incur in a $2.1 billion post-acquisition restructuring charge.
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Unilever Says 2021 Net Profit Beat Views But Warns of Costs Due to Inflationary Pressures -- Update
Unilever PLC reported Thursday an increase in net profit for 2021 that beat market expectations and said it plans to launch a share buyback program worth up to $3.43 billion, but warned of higher costs due to inflationary pressures.
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Solid State Expects FY 2022 Revenue, Profit to Top Market Views
Solid State PLC said Thursday that its strong performance has persisted in the second half of fiscal 2022, with profit and revenue for the full year expected to top market views.
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Pittards Expects 2021 Swing to Profit, CFO to Step Down
Pittards PLC said Thursday that it expects it swung to profitability in 2021, and that Chief Financial Officer Richard Briere will step down in April.
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Environmental Group Intends to Sue Active Energy for Illegal Wastewater Discharges at North Carolina Site
Active Energy Group PLC said Thursday that it has received a "notice of intent to sue" from the Southern Environmental Law Center alleging wastewater discharges without the required permits at its Lumberton property in North Carolina.
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Informa Expects to Post Higher Earnings for 2021; Sells Pharma Intelligence for GBP1.9 Bln
Informa PLC said Thursday that it expects to post a rise in revenue and adjusted operating profit for 2021 and that its performance for the current year has been strong.
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88 Energy Falls on Discounted A$20 Mln Fundraising, ASX Trading Halt
Shares in 88 Energy Ltd. plummeted Thursday morning after the company announced a discounted equity issue to raise 20 million Australian dollars ($14.4 million) and halted the trading of its shares on the ASX market.
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Safestay Names Paul Hingston as CFO Designate
Safestay PLC said Thursday that Paul Hingston has been appointed chief financial officer designate and company secretary, and is expected to join the board around Feb. 21.
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Velocys CFO Andrew Morris to Step Down in 2Q
Velocys PLC said Thursday that Chief Financial Officer Andrew Morris intends to leave the company in the second quarter of the year, to pursue other business opportunities.
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Nanosynth Targets CEO, COO to Make Significant Acquisition; Shares Rise
Shares of Nanosynth Group PLC rose as much as 43% in early trade Thursday as the company set out remuneration plans to incentivize its chief executive officer and chief operating officer to complete a significant acquisition as part of the company's growth strategy.
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Syncona 3Q Net Asset Value Rose; Portfolio Companies Continued to Attract Capital
Syncona Ltd. said on Thursday that its net asset value rose 16% in the third quarter compared with the previous quarter, and that its portfolio companies continued to attract substantial capital in the period.
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Informa Expects to Post Higher Earnings for 2021; Sells Pharma Intelligence for GBP1.9 Bln -- Update
Informa PLC said Thursday that it expects to post a rise in revenue and adjusted operating profit for 2021 and that its performance for the current year has been strong.
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Marlowe Increases Committed Debt to GBP180 Mln With New Facility
Marlowe PLC said Thursday that it has entered into a new debt facility, increasing total committed debt to 180 million pounds ($243.6 million) from GBP130 million.
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AstraZeneca Swung to 4Q Loss Despite Revenue Rise; Expects $2.1 Bln Restructuring Charge -- Update
AstraZeneca PLC said Thursday that it swung to a fourth-quarter loss despite posting higher revenue as charges related to its acquisition of Alexion Pharmaceuticals weighed on earnings, and said it expects to incur in a $2.1 billion post-acquisition restructuring charge.
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Nanosynth JV Partner to Convert Production to Include Nanosynth Products
Nanosynth Group PLC said Thursday that joint-venture partner Volz Holdings v.o.s has agreed to convert its production line to include Nanosynth's alphaviron layer in its product range, which it will partly fund through share warrants.
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Feedback 1H Pretax Loss Widened; Sees FY 2022 Ahead of Views
Feedback PLC said Tuesday that its pretax loss for the first half of fiscal 2022 widened after booking higher costs, and that it expects its performance for the full-year period to beat expectations.
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Addleshaw Goddard set for merger with Dublin law firm in post-Brexit move -- Financial News
The move would give Addleshaws a sizeable Dublin presence
Market Talk:
UK 10Y Gilt Yield Ticks Higher After Sharp Pullback
0929 GMT - The yield on the benchmark U.K. 10-year government bond rises following a significant correction lower the previous day, Tradeweb data show. The 10-year gilt yield ticks two basis points higher to 1.451%, having fallen seven basis points on the previous trading session. The move follows a similar pattern in U.S. Treasurys and European government bonds ahead of U.S. inflation data due later on Thursday. While European stocks are cautiously higher, futures tied to the S&P 500 trade 0.3% lower, pointing to a potential choppy session after the opening bell.
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Unilever's Portfolio Strategy May Need Clarification
0839 GMT - Unilever may need to be clear on its on portfolio strategy as the lack of disposals or reviews may disappoint investors, City says. However, the U.S. bank says that Unilever declaration of "no future acquisitions in the foreseeable future" may be seen as positive and backs the share buyback program of EUR3 billion. Citi has a buy rating on the stock. Shares are down 2% at 3,754.0 pence.
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Unilever Needs to Focus on Right Segments
0835 GMT - Unilever needs to be sure that the business has the right segments to focus on, which could be translated into new disposals of areas such as the tea division in 2022, Freetrade says. The brokerage says investors will be currently looking for the Anglo-Dutch retailer ability to produce high returns on capital after it reorganized its business into five category-focused groups. It adds that Company's pivoting toward its ecommerce channels seems to be working with a bold move into beauty segment. Shares are down 3% at 3,711.0 pence.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
02-10-22 0451ET
