UK Retail-Park Footfall Likely to Drop on Weakening Demand

UK Retail-Park Footfall Likely to Drop on Weakening Demand

1107 GMT - U.K. retail-park footfall is expected to fall in the early months of 2023 given the mounting macroeconomic headwinds and despite the improved levels in December, Shore Capital analyst Clive Black says in a note. On the positive side, large grocery superstores are likely to have particularly benefited from railway strikes in December as many shoppers turned to retail parks for their festive purchases, Black says. However, aggregated demand is expected to fall amid high inflation and elevated base rates and may reflect in weaker retail park traffic, he notes. "Albeit those anchored by grocery supermarkets could be more resilient as nondiscretionary demand should stabilize," Black adds. ([e-mail])

Companies News: 

Clarkson Sees FY 2022 Results Ahead Of Views

Clarkson PLC on Friday said it expects its full-year results to be ahead of current market expectations after a strong fourth quarter driven by its broking division.

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Frasers Group Now Owns Around 3.9% of Hugo Boss

Frasers Group PLC said Friday that its strategic investment in Hugo Boss AG now represents around 3.9% of the German company's total share capital.

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Shell to Take $2 Bln Tax Hit for 4Q as Integrated Gas Trading Soared

Shell PLC said Friday that it expects its fourth-quarter earnings to take a $2 billion hit from additional taxes in the European Union and the U.K. government's energy windfall tax as its integrated gas trading and optimization results rose on quarter.

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One Media iP Sees Higher FY 2022 Revenue, Ebitda Amid Strong Music Industry Outlook

One Media iP Group PLC said Friday that it expects to post increased revenue and earnings before interest, taxes, depreciation and amortization for fiscal 2022 amid a strong outlook for the music industry and a positive growth trajectory.

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Glenveagh Properties Launches EUR60 Mln Share Buyback

Glenveagh Properties PLC on Friday said it is launching a share buyback program of up to 60 million euros ($63.1 million) to repurchase up to 10% of its share capital.

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Essentra Sees 2022 Revenue Growth Despite Toughening Market Headwinds in 4Q

Essentra PLC said Friday that it expects to report like-for-like revenue growth of around 6.5% for 2022 on a continuing operations basis and adjusted operating profit in line with its expectations despite toughening market headwinds in the fourth quarter.

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BiVictriX Therapeutics Appoints New Nonexecutive Chairman

BiVictriX Therapeutics PLC said Friday that Michael Kauffman has been appointed as nonexecutive Chairman.

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Nanoco Agrees to No Fault Settlement With Samsung

Nanoco Group PLC said Friday that it has agreed to a term sheet for a no fault settlement in regards to its litigation with Samsung Group.

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Shell to Take $2 Bln Tax Hit for 4Q as Integrated Gas Trading Rose -- Update

Shell PLC said Friday that it expects to take a $2 billion hit for the fourth-quarter from additional taxes in the European Union and the U.K. government's energy windfall tax, and that its integrated gas trading and optimization results significantly rose on quarter.

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Eurocell CEO Mark Kelly to Retire; Ibstock's Darren Waters Named Replacement

Eurocell PLC said Friday that Chief Executive Mark Kelly is planning to retire later this year and will be replaced by Darren Waters.

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Zamaz CEO Christopher Hill To Be Replaced By COO Daniele Besnati

Zamaz PLC said Friday that current Chief Operations Officer Daniele Besnati will be appointed chief executive officer as Christopher Hill will be stepping down from the role on Jan. 31, at the group's annual general meeting.

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Mosman Oil & Gas Shares Rise After Initial Production at Cinnabar Well in Texas

Shares in Mosman Oil & Gas Ltd. rose up to 20% on Friday after the group said initial production at its Cinnabar-1 well in Texas was encouraging.

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Iconic Labs' Discussions With FCA to Lift Share Suspension Continue

Iconic Labs PLC said Friday that discussions with the Financial Conduct Authority to lift the suspension of its shares are continuing and that all disputes involving the company have been resolved.

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Nucleus Financial Agrees on GBP242 Mln Recommended Takeover of Curtis Banks

Nucleus Financial Platforms Ltd. said Friday that it has agreed on a 242 million pounds ($288.2 million) recommended takeover deal for Curtis Banks Group PLC.

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AdvancedAdvT Chairwoman Vin Murria Sells Entire Stake in Company

AdvancedAdvT Ltd. said Friday that Chairwoman Vin Murria has sold her entire shareholding in the group.

 
Market Talk: 

Shell's 4Q Guidance Update Looks Light Given Commodities Pressure

0846 GMT - Shell's fourth-quarter guidance update was a bit light, especially if taking into account the pressure on commodity prices compared to the third quarter, ING says. The energy giant's figures looked a little lower than prior guidance largely due to lower liquefaction numbers, while marketing and chemicals are forecast to slip on quarter, ING analyst Quirijn Mulder says in a research note. Compensating factors include lower overall taxes and better refinery margins, says the analyst. "It remains difficult to predict what the market will do with this news as there is already a lot of short term pressure on commodity and energy-related [companies] this week," the Dutch bank says. ING retains its buy rating on Shell's stock. Shares are up 1.4% at 2,343.0 pence. ([e-mail])

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Shell's New CEO Faces a Rough Ride Through Energy Transition

1005 GMT - Shell's new Chief Executive Wael Sawan faces a tough time leading the company through the next phase of the energy transition given the sometimes competing aims of energy security and lower emissions, AJ Bell says. The energy giant--which provided a mixed fourth-quarter guidance update Friday morning--is reviewing GBP25 billion of U.K. investments following new levies, and it will be interesting to see the stance Sawan takes, AJ Bell investment director Russ Mould says in a market comment. "His predecessors' big bet on natural gas could prove to be a positive legacy as gas may provide a staging post as the world moves from more polluting fuels like oil and coal to renewables and other forms of clean energy," Mould says. Shares are up 1.2% at 2,338.5 pence. ([e-mail])

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Sterling Could Drop Below $1.1800 on Strong US Jobs Data, ING Says

1008 GMT - ING expects the pound to remain weak and analyst Chris Turner says strong U.S. jobs data, due at 1330 GMT, could see it drop towards $1.1780. Sterling "fell quite hard" as the dollar strengthened on Thursday, he says in a note. He points to evidence of a falling number of U.K. firms finding it harder to recruit staff, which "could be a leading indicator for softer wage growth," although for now the market is still pricing in 100-125 basis points of U.K. rate increases for late summer. "On balance, we expect sterling to remain soft," Turner says, but notes that a fall to $1.1650 is unlikely. GBP/USD falls 0.4% to a six-week low of 1.1854, according to FactSet. ([e-mail])

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UK Property Stocks Drop After House Prices Fall

1012 GMT - U.K. house-builders and property-related stocks fall after industry data showed average house prices falling by 1.5% in December to GBP281,272. That compared with a drop of 2.4% in November, while the annual rate of growth dropped to 2% from 4.6% previously, according to the Halifax House Price Index. "As we've seen over the past few months, uncertainties about the extent to which cost of living increases will impact household bills, alongside rising interest rates, are leading to an overall slowing of the market," Halifax Mortgages director Kim Kinnaird writes. Taylor Wimpey is the house-building sector's biggest top-flight faller, down 0.6%, while Persimmon, Barratt Developments and property website Rightmove also drop. ([e-mail])

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Standard Chartered Bid Talk Sparks Interest in Stock, Jefferies Says

1022 GMT - First Abu Dhabi Bank's interest in Standard Chartered shows the London-based lender looks like a potential takeover target, with Jefferies saying the news has "awakened animal spirits in the name". The United Arab Emirates lender's acknowledgement that it was previously considering an offer in the bank, but is no longer, shows StanChart has an embedded M&A put in the near term, Jefferies says in a note. It reflects the attractiveness for the right banking asset to be had at a discount to book, the U.S. brokerage says, which rates StanChart buy. It flags a multiple disconnect with FAB valued at 2x price to tangible book value having potentially looked to buy StanChart, a bank on 0.5x P/TBV with more than twice its loans and deposits and 44% more tangible equity. A deal with StanChart could be a way for FAB or another prospective bank to increase its sphere of influence, Jefferies says. Shares fall 1.3% at 696.0 pence, pairing some of Thursday's gains. ([e-mail])

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Clarkson Shares Don't Price In Positive Momentum, Says Liberum

1037 GMT - Clarkson's shares are priced for a collapse in earnings that may not come, says Liberum in a note. Raising its earnings forecasts by a fifth after the provider of shipping services said its full-year results would be ahead of expectations, the brokerage says the market treats the stock as a highly cyclical one and seems to be ignoring favorable structural shifts and the group's improved strategic positioning. "Clarkson appears to be making the most of supportive market conditions," says analyst Gerald Khoo, adding resilient demand and constrained supply growth support a medium-term upward trend. The brokerage raises its price target to 4,800 pence from 4,750 pence and keeps its buy rating. Shares rise 5.3% at 3,310 pence. ([e-mail])

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01-06-23 0641ET