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UK's First-Ever Gilt Auction Post-QE Should Go Fine

01/11/2022 | 04:24am EDT

UK's First-Ever Gilt Auction Post-QE Should Go Fine

0905 GMT - The U.K. Debt Management Office's planned sale of GBP3 billion in the 0.375% October 2026 gilt should attract demand given appealing valuation metrics and the scarcity of debt in this tenor this quarter, says RBC Capital Markets. "The bond looks quite attractive on most metrics and will be the only 5-year supply this quarter," analysts at the a bank say. While they say the auction should go fine, uncertainty remains as it is the first gilt sale after the Bank of England ended new bond purchases in December. "There still remains uncertainty on whether or not the GBP3bn auction size may be too much for the street to take down," they say. (lorena.ruibal@wsj.com)

 
Companies News: 

Games Workshop 1H Pretax Profit Slipped; Revenue Rose

Games Workshop Group PLC said Tuesday that pretax profit for the first half of fiscal 2022 fell despite higher revenue.

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Darktrace Raises FY 2022 Expectations After Strong First Half

Darktrace PLC said Tuesday that it delivered significant growth over the first six months of fiscal 2022, leading it to increase its expectations for the full year.

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Electrocomponents Expects 4Q Challenges Due to Pandemic But Sees FY Profit Ahead of Views

Electrocomponents PLC said Tuesday that although it expects external challenges in the fourth quarter of fiscal 2022 to intensify due to the Omicron variant of the coronavirus, profit for the year is expected to be slightly ahead of consensus estimates.

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M.J. Gleeson 1H Homes Sold Slipped 2%, Remains Above Pre-Covid Levels

M.J. Gleeson PLC said Tuesday the number of homes it sold slipped slightly on-year in the first half of fiscal 2022 but remained above pre-coronavirus pandemic levels, and it expects to meet full-year market forecasts.

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UK Watchdog Could Accept Pennon's Undertakings to Clear Bristol Water Deal

The U.K. Competition and Markets Authority said Tuesday that it believes undertakings provided by Pennon Group PLC in relation to its completed acquisition of Bristol Water Holdings UK Ltd. may be enough to satisfy its concerns over the deal.

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SIG Sees 2021 Revenue Rose, Expects Swing to Underlying Profitability

SIG PLC said Tuesday that it expects to report its revenue rose and that it swung to an underlying operating profit in 2021, and it has strong momentum going into 2022.

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Shoe Zone Swung to Pretax Profit in FY 2021; Says Eligible to Reinstate Dividend

Shoe Zone PLC posted Tuesday a swing to a pretax profit for fiscal 2021, boosted by lower costs and increased online sales, and said that it is now eligible to reinstate dividend payouts.

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Franchise Brands 4Q Was Strong After Increased Sales at Metro Rod

Franchise Brands PLC said Tuesday that the strong trajectory it has experienced in 2021 continued in the fourth quarter, underpinned by significant growth at Metro Rod.

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Robert Walters 4Q Net Fee Income Rose

Robert Walters PLC said Tuesday that net fee income trends rose 39% on a constant-currency basis in the fourth quarter of 2021, and that its performance was now comfortably ahead of current profit expectations.

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Union Jack Oil's Wressle Interest Generates $2 Mln in Revenue Since Restart

Union Jack Oil PLC said Tuesday its interest in the Wressle hydrocarbon development has generated $2 million in revenue since the recommencement of production on Aug. 19.

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GSTechnologies Raises GBP1.3 Mln Toward Strategy

GSTechnologies Ltd. said Tuesday that it has raised 1.3 million pounds ($1.8 million) via a share placing and subscription and will use the money toward its strategy.

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Deltex Medical Group 2021 Revenue Fell Due to the Pandemic

Deltex Medical Group PLC said on Tuesday that revenue for 2021 fell due to the effects of the pandemic and the significant reduction in elective surgical procedures on a global scale.

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Rathbones Group Funds Under Management and Administration Rose 25% in 2021

Rathbones Group PLC said Tuesday that total funds under management at Dec. 31 were up 25% on year, boosted by continued net inflows and the acquisition of wealth manager Saunderson House.

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Unite Group Rooms Sold in Advance Rose; Expects Full Occupancy

Unite Group PLC said Tuesday that the number of rooms sold in advance for the coming academic year has risen, and it guided for full occupancy and rental growth.

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Pure Gold's Mine Output Rate Seen Slightly Lower After Covid-19 Outbreak

Pure Gold Mining Inc. said Tuesday that production is expected to continue at a slightly reduced rate at its PureGold Mine in Canada after an outbreak of Covid-19 among staff.

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Trident Royalties PLC. Completion of Acquisition of Gold Portfolio

TIDMTRR

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Premier Miton Group Assets Under Management Flat for 1Q

Premier Miton Group PLC said on Tuesday that its assets under management in the first quarter of 2022 didn't change compared with the previous quarter, and that will launch a new fund.

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Deepverge Expects Widened 2021 Pretax Loss

Deepverge PLC said Tuesday that it expects to report a widened pretax loss for 2021, and that unaudited revenue rose in the year.

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Central Asia Metals Beat 2021 Copper Guidance; Unaffected by Kazakhstan Unrest

Central Asia Metals PLC said Tuesday that it has exceeded its 2021 copper guidance, and that it hasn't been affected by Kazakhstan's recent political unrest.

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Vitec Group Sees 2021 Adj Pretax Profit, Revenue in Line With Views

Vitec Group PLC said Tuesday that it expects 2021 adjusted pretax profit, revenue and net debt to be in line with market consensus, and that it entered 2022 with a record opening order book.

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Gresham Technologies Says 2021 Revenue, Adjusted Ebitda Rose Ahead of Views

Gresham Technologies PLC said Tuesday that it expects to report increased revenue and adjusted Ebitda for 2021, ahead of current market expectations.

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Diaceutics Appoints Nick Roberts CFO, 2021 Revenue rose 10%

Diaceutics PLC said on Tuesday that Nick Roberts has been appointed chief financial officer and director of the board, effective mid-March 2022, and that current CFO Philip White will step down to pursue new business opportunities.

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XP Power 2021 Revenue Rose; Sees Adjusted Profit Missing Views

XP Power Ltd. said Tuesday that it expects to miss market expectations for adjusted operating profit, but strong order intake momentum persisted throughout the fourth quarter and its 2021 revenue rose.

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SDI Group CFO to Step Down

SDI Group PLC said Tuesday that Chief Financial Officer Jon Abell has decided to step down.

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Bango Sees Increased 2021 Revenue, In-Line Adjusted Ebitda

Bango PLC said Tuesday that it expects to report revenue growth ahead of expectations for 2021 and that adjusted earnings before interest, taxes, depreciation and amortization should be in line.

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Knights Group Swung to Pretax Profit in 1H

Knights Group Holdings PLC said Tuesday that it swung to a pretax profit for the first half of fiscal 2022, and that revenue rose.

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Genel Energy CFO Esa Ikaheimonen to Step Down in March

Genel Energy PLC said Tuesday that Chief Financial Officer Esa Ikaheimonen intends to leave the company on March 16, the day after its 2021 financial results are announced.

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Electric Guitar Shares Rise in Stock Market Debut

Shares of Electric Guitar PLC rose 8.3% on Tuesday as it started trading on the London Stock Exchange implying a market capitalization of 1.9 million pounds ($2.6 million).

 
Market Talk: 

Darktrace Set for Increased Customer Spending, Berenberg Says

0841 GMT - Darktrace continues to deliver strong customer growth and increasing annualized recurring revenue per customer, Berenberg says. The brokerage says that over the past few months it has conducted a survey of businesses that have trailed, used or currently use Darktrace's products, and this showed that customers were satisfied and that the majority said they anticipate spending more with the U.K. cybersecurity company. "Darktrace's shares have clearly been caught in a web of misinformation, which we think today's update and our survey will serve to break. We think the share price is unlikely to stay at current levels for long," it notes. Berenberg has a buy rating on Darktrace with a 1,000 pence price target. Shares trade 24% higher at 490 pence. (kyle.morris@dowjones.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

01-11-22 0424ET

Stocks mentioned in the article
ChangeLast1st jan.
BANGO PLC 3.28% 157.5 Delayed Quote.-19.23%
CENTRAL ASIA METALS PLC 1.71% 238.5 Delayed Quote.-7.92%
DARKTRACE PLC 6.79% 363.1 Delayed Quote.-13.59%
DEEPVERGE PLC 2.00% 12.75 Delayed Quote.-47.42%
DELTEX MEDICAL GROUP PLC 0.00% 1.125 Delayed Quote.-21.05%
FRANCHISE BRANDS PLC 2.19% 140 Delayed Quote.-8.79%
GAMES WORKSHOP GROUP PLC 1.31% 6985 Delayed Quote.-30.04%
GENEL ENERGY PLC 3.57% 174.2 Delayed Quote.33.69%
GRESHAM TECHNOLOGIES PLC -0.31% 160 Delayed Quote.-6.98%
GSTECHNOLOGIES LTD. 0.00% 1.475 Delayed Quote.-35.59%
KNIGHTS GROUP HOLDINGS PLC 12.00% 140 Delayed Quote.-65.85%
LONDON BRENT OIL 0.94% 112.54 Delayed Quote.42.93%
LONDON STOCK EXCHANGE PLC 1.09% 7244 Delayed Quote.4.91%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
PREMIER MITON GROUP PLC -0.45% 110 Delayed Quote.-43.59%
PURE GOLD MINING INC. 5.56% 0.19 Delayed Quote.-72.06%
ROBERT WALTERS PLC 4.17% 550 Delayed Quote.-28.57%
RS GROUP PLC 3.17% 911 Delayed Quote.-24.63%
SDI CORPORATION -0.35% 142.5 End-of-day quote.-18.80%
SDI GROUP PLC 1.88% 163 Delayed Quote.-14.44%
SHOE ZONE PLC 9.97% 160 Delayed Quote.45.45%
SIG PLC -0.40% 37 Delayed Quote.-22.20%
THE VITEC GROUP PLC 2.27% 1264 Delayed Quote.-9.86%
TRAVIS PERKINS PLC 0.22% 1145 Delayed Quote.-26.34%
TRIDENT ROYALTIES PLC 0.40% 50 Delayed Quote.36.99%
UNION JACK OIL PLC 0.00% 28.5 Delayed Quote.103.57%
UNITE GROUP PLC 1.54% 1056 Delayed Quote.-4.91%
WTI 1.22% 110.515 Delayed Quote.44.84%
XP POWER LIMITED 3.03% 3405 Delayed Quote.-33.24%
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