Yields on 2Y Gilts, Treasurys Could Indicate Monetary-Policy Directions
1404 GMT - The yields on U.K. 2-year gilts and U.S. 2-year Treasurys could indicate the direction the monetary policy will take in six months in their respective countries, says AJ Bell investment director Russ Mould in a note. "History suggests the two-year yield will lead monetary policy, as set by central banks, by some six months," Mould says, "If this relationship holds firm, then the bond market could give a valuable steer as to whether rates are staying higher for longer or moving lower much quicker than expected," he says. The yield on the U.K. 2-year gilt last trades at 3.596% and the yield on U.S. 2-year Treasuries last trades at 4.205%, according to Tradeweb. The Bank of England rate is at 3.50% while the Federal Reserve rate sits at a range of 4.25%-4.50%. (miriam.mukuru@wsj.com)
Companies News:
CRH to Buy Back $300 Mln in Shares
CRH PLC said Monday that it will conduct a $300 million share buyback program.
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Thruvision Confirms Breakeven Target After 1H Pretax Loss Narrowed
Thruvision Group PLC said Monday said its pretax loss for the first half of fiscal 2023 fiscal narrowed slightly as it posted an increase in revenue, and confirmed that it expects to break even in the full financial year.
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Lookers Chairman Ian Bull to Step Down
Lookers PLC on Monday said its Chairman Ian Bull will step down from the role on Dec. 31 for personal reasons.
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Insig AI 1H Pretax Loss Widened on Higher Costs
Insig AI PLC said Monday that pretax loss for the first half of fiscal 2023 widened after the company booked higher costs, and that directors weren't recommending dividend payments.
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M.P. Evans Further Extends Share Buyback Program
M.P. Evans Group PLC said Monday that it will extend and increase the budget of its share buyback program.
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LBG Media Expects 20% Rise in 2H Revenue
LBG Media PLC said Monday that it expects to report a 20% rise in second-half revenue despite the challenging economic environment.
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Feedback Sees 1H Revenue Rising; Confident For FY 2023 Growth
Feedback PLC on Monday said its half-year revenue rose thanks to the extension to its pilot program contract in Sussex and said it is confident for continued growth for the rest of the year.
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Camellia Agrees on Sale of Interest in ACS&T for GBP16.5 Mln Cash
Camellia PLC said Monday that it has agreed to sell its interest in ACS&T to HSH Coldstores Ltd. for 16.5 million pounds ($20 million) in cash payable at completion.
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Angus Energy to Raise Around GBP7 Mln; Shares Fall
Shares in Angus Energy PLC fell Monday after the company said it will raise around 7 million pounds ($8.5 million) via a discounted share placing and a subscription.
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Spire Healthcare Buys the Doctors Clinic Group for GBP12 Mln
Spire Healthcare Group PLC said Monday that it has bought the Doctors Clinic Group for 12 million pounds ($14.6 million) to further extend its presence in the U.K.
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CentralNic Buys Website Portfolio for $5.2 Mln
CentralNic Group PLC on Monday said it signed an agreement to buy a portfolio of niche websites from multiple sellers for $5.2 million in cash.
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Braemar Buys Southport Maritime for $7.3 Mln
Braemar PLC said Monday that it has bought Southport Maritime Inc. in the U.S. for an initial $7.3 million to expand its presence in the Americas.
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Midatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM
Shares in Midatech Pharma PLC rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its AIM listing.
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Star Phoenix Shares Fall on Inability to Publish FY 2022 Results, Share Suspension
Star Phoenix Group Ltd. shares fell Monday after it said it won't be able to publish its audited results for fiscal 2022 by Dec. 31 and that its shares will consequently be suspended from Jan. 3.
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Angus Energy Raises GBP7.1 Mln; Shares Fall -- Update
Shares in Angus Energy PLC fell as much as 25% on Monday after the company said it raised around 7.1 million pounds ($8.6 million) via a discounted share placing and a subscription.
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Pearson to Buy Personnel Decisions Research Institutes
Pearson PLC said Monday that it has agreed to buy workforce assessment provider Personnel Decisions Research Institutes, LLC from SHL Group in a deal with an enterprise value of $190 million.
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Purplebricks' Shareholders Vote Against Removal of Chairman
Purplebricks Group PLC said Monday that the resolutions requested by Lecram Holdings Ltd. (Lecram) to remove Chairman Paul Pindar and to appoint former Countrywide Chief Executive and Rightmove PLC founder Harry Hill as his replacement were rejected by shareholders in a general meeting.
Market Talk:
James Fisher's Disposals Bode Well For Strategy
1334 GMT - James Fisher & Sons's disposal of three businesses shows the marine services group's ability to carry out its strategy of streamlining its operations to focus on core activities, as well as cutting debt, Peel Hunt says. The businesses sold--Mimic, Strainstall's U.K. operations and Prolec--were small digital and data-services operations within Fisher's marine-support division and were not core to the group, Peel says. "These disposals demonstrate the strategy to rationalize and focus the portfolio and strengthen the financial position," Peel analyst Alexander Paterson says in a note, reiterating the brokerage's hold rating and 400 pence price target. Shares are unchanged at 341p. (philip.waller@wsj.com)
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LBG Media Appeals to Advertisers, Audiences and Investors, Liberum Says
1350 GMT - LBG Media's strong 2H revenue performance is indicative of the strong appeal of its proposition both with advertisers and audiences, Liberum analysts Ciaran Donnelly and William Larwood say in a note. Management has pointed to continued growth in 2023, and this should be taken positively as the share price implies there is a downside risk to 2023's numbers given the tougher macroeconomic backdrop, the analysts say. Liberum rates the stock buy and has a 115-pence target price. Shares are up 10% at 75 pence. (anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
12-19-22 0932ET