Sterling Boosted By Strong UK Wage Growth
0751 GMT - Sterling has received a boost from strong U.K. wage data, even as the jobless rate rose slightly, ING analyst Chris Turner says in a note. Sterling has enjoyed a modest lift from today's data as it has increased expectations that the Bank of England will raise interest rates next month, he says. U.K. average weekly earnings excluding bonuses increased 6.6% on year in the three months to February, above the 6.2% expected in a WSJ poll of economists. "Unless we see some significant slowing in U.K. March services inflation released tomorrow, it increasingly looks like the BOE will hike [interest rates by] 25bp after all." GBP/USD rises 0.4% to 1.2419 while EUR/GBP edges marginally lower to 0.8825. (jessica.fleetham@wsj.com)
Companies News:
Ninety One's Assets Under Management Fell on Quarter in 4Q
Ninety One PLC on Tuesday said that its assets under management for the fourth quarter of fiscal 2023 fell compared to the end of the previous quarter.
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UK Regulator Starts Investigation on the Key Group's Proposed Deal for RM Integris, RM Finance
The U.K.'s Competition and Markets Authority said on Tuesday that it is starting an investigation into the Key Group's proposed deal for RM Integris and RM Finance.
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Entain 1Q Net Gaming Revenue Rose as Customers at Record Level
Entain PLC said Tuesday that it has made a strong start to 2023, with increased net gaming revenue and record levels of active customers.
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easyJet Sees FY 2023 Profit Beating Market Views After 1H Pretax Loss Narrowed
easyJet PLC said Tuesday that it expects to beat market profit expectations for the full year, and that its headline pretax loss narrowed for the first half of fiscal 2023.
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GSK to Acquire Canadian BELLUS Health for Around $2 Bln
GSK PLC said Tuesday that it has reached an agreement to buy the late-stage biopharmaceutical company BELLUS Health Inc. for $14.75 a share in cash, representing a total equity value of around $2.0 billion.
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Cineworld Terminates Marketing Process for 'Rest of World' Business
Cineworld Group PLC said Tuesday that it has ended the marketing process for the 'rest of world' business.
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Network International 1Q Revenue Rose; Backs Full-Year Guidance
Network International Holdings PLC said that revenue rose 13% in the first quarter as signings grew significantly, and confirmed its 2023 guidance.
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Moneysupermarket.com 1Q Revenue Rose on Strong Insurance Growth
Moneysupermarket.com Group PLC said Tuesday that first-quarter revenue rose 15%, with growth in all four of its segments and particularly driven by an increase in its insurance division.
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THG Sees Margin Recovery in 2023 Driven by Revenue Growth, Ongoing Deflation
THG PLC said Tuesday that it expects a significant margin recovery for 2023 on the back of revenue growth, deflation and improved operating costs.
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Wise Posts FY 2023 Income Beat Boosted by 4Q Growth
Wise PLC said on Tuesday it beat its income guidance for fiscal 2023 as it reported double-digit growth in volumes and revenue over its fourth-quarter.
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M&C Saatchi 2022 Adjusted Profit, Revenue Rose on Growth, Cost Savings
M&C Saatchi PLC said Tuesday that adjusted profit and revenue rose for 2022 after it booked growth in its issues, consulting and passions divisions and made central cost savings.
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City Pub Swung to 2022 Pretax Profit On Postpandemic Sales Recovery
City Pub Group PLC said Tuesday that it swung to a pretax profit in 2022 as revenue sales returned to prepandemic levels.
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Petra Diamonds 3Q Revenue Fell Due to Tender Cycle Timings
Petra Diamonds Ltd. said Tuesday that revenue fell on quarter in the third quarter of fiscal 2023 as higher pricing at South Africa's Cullinan and Finsch sites was more than offset by tender cycle timings.
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Halfords Backs FY 2023 Profit Views, Sets Midterm Targets
Halfords Group PLC on Tuesday backed its fiscal 2023 profit guidance and laid out medium-term targets on the back of its platform leverage plans.
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IntegraFin 2Q Funds Under Direction Rose; Sees First-Half Revenue Slip On-Year
IntegraFin Holdings PLC on Tuesday said it expects revenue for the first half of fiscal 2023 to be slightly lower than the comparable period as it posted a rise in funds under direction over its second quarter.
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Franchise Brands Began 2023 With Strong Momentum, Confident Outlook
Franchise Brands PLC said Tuesday that it has started the new year well with continued momentum in its business-to-business division, and was confident in its outlook.
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Advanced Oncotherapy Seeks Nasdaq Quoted Buyer
Advanced Oncotherapy PLC said Tuesday that it is considering a possible sale of the business to Nasdaq quoted corporate vehicles as part of its review into funding options.
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Volex Sees FY 2023 Ahead of Market Views on Robust Revenue, Profit Growth
Volex PLC said Tuesday that fiscal 2023 performance was ahead of market expectations and that it has entered into fiscal 2024 with strong momentum.
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Mitie FY 2023 Operating Profit to Beat Expectations; Launches GBP50 Mln Buyback
Mitie Group PLC said Tuesday that fiscal 2023 operating profit is expected to exceed current guidance after it booked continued momentum in the fourth quarter and that it was launching a new 50 million pound ($61.9 million) share buyback.
Market Talk:
GSK's BELLUS Acquisition Reinforces Long-Term Prospects
0743 GMT - GSK acquisition of Canadian-based biotech BELLUS Health for $2 billion brings the group closer to achieve its long-term target of more than GBP33 billion in turnover by fiscal 2031, Shore Capital analyst Dr. Sean Conroy says in a note. The acquisition provides access to the phase III asset camlipixant treatment for refractory chronic cough, a disease that has persistent unmet demand while no medicines are currently approved in the U.S. or European Union, Conroy adds. "We believe this deal highlights that GSK is effectively utilizing its post-demerger balance sheet, to bridge the long-term earnings growth gap that needs to be addressed," Conroy says. (michael.susin@wsj.com)
Entain's 1Q Trading Update Consistent With Management Views
0732 GMT - Entain's first-quarter trading update was slightly better than Shore Capital's assumptions and consistent with management expectations, research analyst Greg Johnson says in a note. Digital net gaming revenue for the Ladbrokes owner was up 1% on year on a pro-forma basis, a touch better than expected against tough comparatives and numerous headwinds, the Shore Capital analyst says. "With headwinds unwinding, we would expect NGR to accelerate as the year progresses, with full year guidance unchanged; we maintain our FY23F EBITDA estimates," he adds. Shore Capital has a buy rating on the stock. Shares trade up 2.6% at 1,340.00 pence. (kyle.morris@dowjones.com)
easyJet's 1H Update Shows Recovery Is Well Underway
0731 GMT - easyJet continues its flight back toward financial safety with a strong Easter showing and the promise of a busy summer to come, Interactive Investor says. The low-cost carrier posted an improved first-half performance and guided for the full-year to beat market views. easyJet remains upbeat on current and near-term performance and its share price is showing signs of recovery, although similar to the group itself, it still has some way to go as it is down 8.3% over the last year, Interactive's Richard Hunter says in a market comment. "Even so, some of the clouds are beginning to clear and the recently upgraded market consensus of the shares to a cautious buy reflects a growing optimism," Hunter says. Shares are up 3.1% at 526.6 pence. (joseph.hoppe@wsj.com)
Entain's Retail Numbers, Resilient BetMGM Gaming Revenue Seen to Support Shares
0724 GMT - Entain's very strong retail numbers and resilient net gaming revenue from BetMGM should support shares despite online underlying growth appearing to have stepped back, Citi analysts say in a research note. The Ladbrokes owner's first-quarter trading update was mixed, they say, adding that online Sports NGR growth was only up 8%, but iGaming was strong at 25% and retail NGR growth was well ahead of expectations at 14%. "We believe very strong retail numbers plus resilient NGR from BetMGM should support shares, despite online underlying growth appearing to have stepped back from 4Q22 levels," they say. Citi has a buy rating on the stock with a 2,000 pence price target. Shares trade up 2.8% at 1,341.50 pence. (kyle.morris@dowjones.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
04-18-23 0407ET
