FTSE 100 Seen Opening Lower After Declines in Asia

The FTSE 100 is expected to open lower after losses in Asia as China tries to contain rising coronavirus cases. Spreadbetting firm IG expects London's blue-chip index to start the session down 17 points. "In Asia, markets have got off to a poor start and this is expected to similarly weigh on today's European open ahead of another key week for inflation data, with U.K., German and U.S. CPI for March due tomorrow," CMC Markets analyst Michael Hewson says. Meanwhile, data on Monday show the U.K. economy grew 0.1% on month in February after expanding 0.8% in January. Economists polled by the WSJ expected 0.2% growth. 


 
Companies News:

London's IPO Market Sees Decline in New Listings, Funds Raised in 1Q

The amount of money raised through new listings on U.K. markets fell year-on-year during the first quarter, a trend that is expected to continue into the second quarter, according to Ernst & Young's IPO Eye report.

---

Weir Group Buys Carriere Industrial Supply for GBP20 Mln in Cash

Weir Group PLC said on Monday that it has completed the acquisition of Canada's Carriere Industrial Supply Ltd., in a transaction with an enterprise value of 20 million pounds ($26.1 million) that was paid for in cash.

---

Audioboom 1Q Revenue Doubled as Growth Continued

Audioboom Group PLC said Monday that its revenue more than doubled in the first quarter as growth continued into 2022.

---

John Wood Group Sees 2021 Results in Line With Prior Guidance

John Wood Group PLC said Monday that it expects its 2021 results to be in line with guidance given on Jan. 13.

---

Mothercare's FY 2022 Adjusted Ebitda Seen Ahead of Market Views

Mothercare PLC said Monday that adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2022 are now expected to be ahead of market views, and that revenue is still being hit by Covid-19 related issues.

---

Thor Explorations Says 1Q Gold Production Was in Line With Expectations

Thor Explorations Ltd. said Monday that its Segilola gold mine in Nigeria performed in line with forecasts during the first quarter of the year.

---

Ascential Is Considering Separation of Certain Assets

Ascential PLC said Monday that it is in the early stage of considering a separation of certain assets.

---

Angus Energy Raises GBP675,000 Via Share Issue

Angus Energy PLC said Monday that it has raised 675,000 pounds ($879,795) via share issue, after merger talks with Sound Energy PLC fell through last week.

---

Amigo Holdings' Scheme of Arrangement Proposals Won't Face Regulator Opposition

Amigo Holdings PLC said Monday that the Financial Conduct Authority won't appear at the sanction hearings to oppose its scheme of arrangement proposal.

---

STM Denied Court Appeal on 2012 Investment Case

STM Group PLC said Monday that the U.K. Supreme Court has denied its application for leave to appeal the Court of Appeal's judgment on the long-standing Adams versus Carey case.

---

WANdisco Reports Strong 1Q Performance; Bookings Significantly Rose

WANdisco PLC on Monday reported a strong performance in the first quarter on the back significant contract wins, with bookings significantly rising from a year earlier.

---

Marks Electrical 4Q Revenue Rose; Sees Increased Full-year Revenue

Marks Electrical Group PLC said Monday that revenue for the fourth quarter of fiscal 2022 rose 19% on year and that it expects to report that full-year revenue also grew significantly. 


 
Market Talk:

John Wood's Revenue Continues to Face Headwinds

Wood Group's revenue is continuing to face headwinds say analysts at Jefferies, with its top-line growth proportional to headcount and the company yet to return bolt-on mergers and acquisitions which can accelerate headcount. Jefferies sees the effect of cost synergies being absorbed by market and pricing operations but, besides a materially-reduced Ebitda margin, cash exceptionals of $708 million in the 2015-2020 period outstripped cost synergies of $629 million. Although the engineering and consulting company has said it plans to sell its built environment business, it is yet to deliver its results and there are unknown stock implications either way, the U.S. bank says. Jefferies raises its rating on the stock to hold from underperform and has a 150 pence target price.


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

(END) Dow Jones Newswires

04-11-22 0306ET