Sterling Unmoved by Brexit Headlines

Sterling Unmoved by Brexit Headlines

0831 GMT - Sterling continues to show little reaction to Brexit headlines even after the U.K. government's Northern Ireland bill cleared its first hurdle, ING says. The bill, which unilaterally rips up post-Brexit trading arrangements for Northern Ireland, passed the second reading stage in the House of Commons on Monday evening. "There are surely many indications that the pound is largely pricing in this scenario, and markets remain mostly focused on other drivers of UK economic underperformance as well as assuming Brexit is not a major input in the Bank of England's policy decision-making process at the moment," ING analysts say in a note. GBP/USD rises 0.1% to 1.2276 and EUR/GBP falls 0.1% to 0.8625. ([e-mail])

 
Companies News: 

SSE, Equinor to Buy 1.2GW Saltend Gas-Fired Power Station in GBP341 Mln Deal

U.K. energy group SSE PLC said Tuesday that it is acquiring Triton Power Holdings Ltd. with Norway's Equinor ASA from Energy Capital Partners for 341 million pounds ($418.3 million) to be shared equally between the two companies.

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OptiBiotix 2021 Pretax Profit Rose on Higher Revenue; Says Making Good Progress in 2022

OptiBiotix Health PLC said Tuesday that 2021 pretax profit rose as revenue increased, and that it has continued to make good progress since the start of 2022 despite the challenging global environment.

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Wise Reports Higher FY 2022 Profit, Forecasts 30%-35% Revenue Growth for FY 2023

Wise PLC on Tuesday reported an improved profit for the year ended March 31, and forecast revenue growth to continue at 30%-35% in fiscal 2023.

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Wynnstay Group 1H Pretax Profit and Revenue Rose on Higher Inflation, Gas Prices

Wynnstay Group PLC said Tuesday that pretax profit and revenue rose in the first half of its fiscal 2022 as business was ahead of the board's expectations, and that it raised its dividend payout.

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Petrofac Says Performance Remains In Line With Guidance

Petrofac Ltd. said Tuesday that its performance and expectations remain in line with guidance provided in late May.

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Everyman Media Says Jeremy Summerfield Will No Longer Join as CFO

Everyman Media Group PLC said Tuesday that Jeremy Summerfield will no longer join the board as chief financial officer as previously announced.

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Advanced Oncotherapy Raises GBP6.0 Mln Via Share Issue

Advanced Oncotherapy PLC said Tuesday that it has raised 6.0 million pounds ($7.4 million) via equity issue.

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Tribal Group Expects 2022 Revenue to Top Views; Says 1H Ebitda to Be Lower

Tribal Group PLC said Tuesday that it expects 2022 revenue to top its expectations, and that although Ebitda in the first half will be lower, it will recover in the second half.

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Marlowe Swung to FY 2022 Pretax Profit on Higher Revenue; Flags Strong Start to FY 2023

Marlowe PLC said Tuesday that it swung to a pretax profit for fiscal 2022 as revenue rose, and that it has had a strong start to fiscal 2023 with good levels of organic growth consistent with its medium-term high single digit target.

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Jadestone Energy Appoints New CFO

Jadestone Energy PLC said Tuesday that it has appointed Bert-Jaap Dijkstra as chief financial officer, effective Sept. 1.

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President Energy Swung to Profit in 2021 as Oil Price Bounced Back

President Energy PLC on Tuesday reported a profit for 2021, reflecting a recovery in oil-and-gas prices.

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Purplebricks Delays Publication of 2022 Results to August

Purplebricks Group PLC said Tuesday that it will report 2022 results in the first week of August to allow for enough time to complete the audit.

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IG Design 1H Pretax Profit Fell on Higher Costs, to Revise Strategy

IG Design Group PLC said Tuesday that pretax profit for fiscal 2022 fell despite higher revenue, as performance was hurt by higher costs and supply-chain issues.

 
Market Talk: 

UK Water Utility Longer-Term Returns Look Set to Slow -- Market Talk

0848 GMT - Severn Trent tops the FTSE 100 fallers, down 5% after JPMorgan downgraded the U.K. water utility to under-weight from neutral. United Utilities and FTSE 250-listed Pennon drop 1.4% and 6% respectively. While the U.K. water sector has done well since the latest regulatory period started in April 2020, with all three U.K.-listed companies achieving strong returns and asset growth and increasing dividends at least in line with inflation, returns from April 2025 are likely to fall short of market expectations, JPM says. "In our view, the regulator will challenge the companies to be more efficient while meeting environmental objectives--this may require further reinvestment in the coming years, limiting outperformance," JPM analyst Pavan Mahbubani says in a note. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

06-28-22 0541ET