UK's Budget Discipline Limits Hit to Sterling, Gilts From News of Strikes
1325 GMT - Sterling and U.K. gilts have been largely unmoved by news of worker strikes in the U.K. due to the government maintaining strict budget discipline, says Swissquote senior analyst Ipek Ozkardeskaya in a note. "The fact that the government remains ultra-resistant to give people a better pay is a proof that the government remains serious about its high budget discipline, and that's probably what prevents the gilt yields and the pound from falling on U.K.-related news," she says. (miriam.mukuru@wsj.com)
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.
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PwC UK mourns partner who handled Lehman Brothers, Carillion insolvencies -- Financial News
PwC UK partner Mike Jervis has died after a long illness
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Riverwood Capital Partners II L.P., Affiliates Report Stake In VTEX >VTEX
Riverwood Capital Partners II L.P. and affiliates reported a stake in VTEX (VTEX) in a Schedule 13D filed with the U.S. Securities and Exchange Commission with a December 27, 2022 event date.
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Trackwise Designs Raises Around GBP4.8 Million to Start Production of New Order
Trackwise Designs PLC said Friday that it has raised around 4.76 million pounds ($5.7 million) through a placing, subscription and open offer to fund the start of production of a new order secured in October 2022, and for cash through to August.
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ADVFN Raises GBP4.5 Million via Open Offer
ADVFN PLC said Friday that it has conditionally raised around 4.5 million pounds ($5.4 million) via an open offer to be used toward business development.
Market Talk:
RS Group's 3Q Could Show a Change of Fortunes
1344 GMT - RS Group is set to report a third-quarter trading update on Tuesday and the tide may have turned since its encouraging first-half print considering recent industrial production and manufacturing PMI data, Shore Capital research analyst Tom Fraine says in a note. S&P Global's December Global Manufacturing PMI was down to a 30-month low of 48.6, Fraine points out, adding that market share gains could offset a macro deterioration. "The company is operationally geared, having continued to invest in its cost base and its operating performance has historically had a reasonably significant correlation with [industrial production]," Fraine says. Shore Capital has a sell rating on the London-listed industrial and electronics products distributor's stock. (kyle.morris@dowjones.com)
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US Jobs Data Makes Further Fed Rate Rises Likely, Keep Them High Longer
0850 ET - Investors are likely to interpret the latest report as a concerning sign that the US Federal Reserve will raise interest rates further in 2023, says Richard Flynn, managing director at Charles Schwab UK, after US nonfarm payrolls rose by 223,000 in December, beating consensus for growth of 200,000 jobs. "In 2022, the Fed raised interest rates on seven consecutive occasions in the hope that economic demand would slow and create slack in the labour market, thereby reducing the pace of both wage growth and inflation," he says. However, despite aggressive monetary tightening and lower-than-expected inflation figures last month, the jobs report indicates that the Fed is far from declaring victory and may keep rates higher for longer, Flynn says. (emese.bartha@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
01-06-23 1013ET
