FTSE 100 Closes Down 0.2% Dragged by Oil, Miner Stocks

The FTSE 100 Index closed down 0.2% to 7507 points, dragged by commodities-exposed stocks amid mixed trading in European markets as investors eye economic data later in the week, and after increasing fears regarding China's property market. Retailer Ocado was the index worst performer, with shares closing down 4.3%, followed by miner Anglo American and Entain, down 3.6% and 3.2% respectively. BP and Shell shares closed down 1.0% and 0.9%, respectively, as Brent falls 0.5% to $86.39.

COMPANIES NEWS:

Glantus Holdings Agrees to GBP17.8 Mln Takeover by BasWare

Glantus Holdings has agreed to a 17.8 million pound ($22.6 million) takeover by Genesis Bidco, a new company owned by BasWare.

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Centralnic's 1H Profit Slipped Despite Revenue Increase; Backs 2023 Market Views

Centralnic Group said its pretax profit slipped on an increase in costs and non-cash charges, though revenue and adjusted earnings rose and it expects its full-year results to at least be in line with market expectations.

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Plus500 1H Pretax Profit Fell on Calmer Markets; Returns Capital

Plus500 said it will launch new share buyback and a special dividend as it reported a drop in pretax profit for the first half of the year due to lower volumes across financial markets.

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Pelatro Raises GBP1.1 Mln to Support Working Capital

Pelatro has raised 1.1 million pounds ($1.4 million) via a share subscription with a number of new investors based in the Middle East, which will support the company's working capital as it seeks to collect payments from some customers as previously noted, as well as adding new customers.

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Lok 'N Store Revenue Rose as Self-Storage Business Beat Expectations

Lok 'n Store Group said Monday that revenue growth in fiscal 2023 was strong, with self-storage revenue in the second half ahead of expectations.

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ITM Power To Sell Motive Fuels

ITM Power signed non-binding terms of agreement to sell its joint venture Motive Fuels to an undisclosed buyer as part of its efforts to cut costs.

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Jubilee Metals Group Names Neal Reynolds as Incoming CFO

Jubilee Metals Group named Neal Reynolds as chief financial officer, effective from the first day of October, taking over the role from current Acting CFO Pedja Kovacevic.

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B90 Names Farzad Peyman as CFO, Mergers and Acquisitions Development Officer

B90 said it has appointed Farzad Peyman as chief finance and mergers and acquisitions development officer.

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Harvest Minerals Cuts Sales Target Again on Weak Fertilizer Demand

Harvest Minerals cut its invoiced sales target for the year again due to persisting soft demand for its products as farmers delay their orders.

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Tan Delta Systems Plans to Raise GBP6 Mln in London IPO

Tan Delta Systems plans to raise 6 million pounds ($7.6 million) as part of its initial public offering on London's junior AIM.

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Stelrad Backs Guidance After Adjusted Operating Profit Fell

Stelrad Group said that adjusted operating profit fell for the first half against a tough comparative and backed its guidance for the year.

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Robinson Reduces Debt Via Property Sale, Pension Fund Surplus

Robinson is reducing its debt through the sale of some of its property and the return of surplus from its pension fund buy-out.

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Serinus Energy Shares Fall on Swing to 1H Loss

Shares of Serinus Energy fell 16% in early trade after the company reported a swing to net loss for the first half year on revenue that fell due to lower production and realized oil prices.

MARKET TALK:

Lok'nStore Seen Well-Placed to Take Advantage of Growth Opportunities

1222 GMT - Lok'n Store's FY 2023 trading update is positive as same-store self-storage revenue rose 12% on last year and total self-storage revenue rose 5.3% on the timely sale and manage-back of four stores for GBP37 million in January 2022, finnCap analyst Guy Hewett says in a note. The self-storage company has the balance sheet strength to continue growing its long-term secured development pipeline which will see it adding three new stores to its portfolio of 42 in FY 2024 and 11 in total over the next three to four years, Hewett says. "We... reiterate our view that Lok'n Store is very well placed to take advantage of the growth opportunities in the undersupplied U.K. self storage market," he says. ([e-mail])

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UK Voters Look Averse to Paying More to Reach Net-Zero

1214 GMT - The political challenges of green policies mean the U.K. may struggle in its target to reach net-zero emissions by 2050, economists at Capital Economics warn in a note. Voters are generally favorable to the idea of emission-reducing measures like frequent-flyer levies and sustainable pension funds, but this support quickly recedes when measures imply a financial cost on the individual, CapEcon says, citing survey data from Ipsos. The same is true of support for net-zero, CapEcon says, citing a YouGov survey and noting a recent London by-election that saw a backlash against a tax on polluting cars. Raising borrowing to fund climate-friendly policies as such looks increasingly difficult, the economists say. "Net-zero in the U.K. by 2050 is far from the most likely outcome," they say. ([e-mail]; @joshualeokirby)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

08-14-23 1208ET