The FTSE 100 index closed Thursday down 1.2% to 7499 points, the worst performer among European peers on the back of disappointing trading updates as sentiment remained fragile due to the mounting tensions on the Middle East, CMC Markets' U.K. chief market analyst Michael Hewson says in a note. Pest control company Rentokil dragged the index into negative territory, with shares plunging 19% after its quarterly update spooked investors--particularly over concern in its U.S. operations--Hewson adds. Rightmove shares closed down 14% over fears that it will lose market share after news that CoStar is taking over one of its rivals OnTheMarket, he adds. Packaging company Mondi was the third-worst performer and closed down 6.1% after warning that soft demand had meant lower 3Q selling prices.

COMPANIES NEWS:

Schroders Assets Under Management Fell Over 3Q, Missing Views

Schroders said its assets under management fell over the third quarter of 2023, missing consensus expectations which had pencilled in a rise.

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RELX Posts Underlying Revenue Growth for Nine-Month Period, Backs Full-Year Outlook

RELX PLC said that underlying revenue growth for the year to date across the business was 8% and that it continues to see full-year underlying growth in revenue and adjusted operating profit exceeding historical trends, as momentum remains strong.

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London Stock Exchange Group Backs Guidance on Strong 3Q Performance

London Stock Exchange Group has reported an 8% rise in total income, excluding recoveries, on strong, broad-based growth across the business, and backed its full-year total income guidance.

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Deliveroo 3Q Gross Transaction Value Rose; Keeps Guidance

Deliveroo said gross transaction value rose in the third quarter, driven by an increase in value per order and improving trends, and backed its full-year guidance.

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Hargreaves Lansdown First-Quarter Revenue Rose as Rates Offset Softer Volumes

Hargreaves Lansdown posted a smaller-than-expected rise in revenue for the first-quarter fiscal 2024, as lower share-dealing volumes driven by softer investor confidence were offset by net interest margin growth.

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Dunelm 1Q Revenue Grew on Strong Sales Volumes

Dunelm Group has reporter higher revenue, driven by strong sales volume in both stores and digital segments supporting its expansion and digitalization strategy.

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Rentokil Initial's 3Q Revenue Rose Despite Weaker North America Performance

Rentokil Initial reported a rise in third-quarter revenue at constant exchange rates but flagged a weaker-than-expected performance in North America, while it backed its full-year guidance on group level.

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Mondi Underlying Ebitda Falls, Dragged by Lower Forestry Fair Value Gain

Mondi said that third-quarter underlying Ebitda fell, dragged by a reduced forestry fair value gain, and that it expects the period's subdued demand and price declines in heavy-duty kraft paper to continue through the fourth quarter.

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OnTheMarket Agrees to GBP99 Mln Takeover by CoStar Group

OnTheMarket said it has agreed to a 99 million-pound ($120.2 million) takeover by CoStar Group, a Washington, D.C.-based provider of online real-estate marketplaces.

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Centamin Pretax Profit Falls on Lower Gold Sales; Cost Guidance Improves

Centamin said pretax profit and revenue fell in the third quarter on lower gold sales, although it improved its full-year cost expectations.

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Rank Group Sees Full-Year in Line With Views After 1Q Net Gaming Revenue Rise

Rank Group said its first-quarter revenue grew driven by higher visitor numbers and gaming revenue, and despite a challenging environment.

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Rathbones Confident on Near-Term Margin View After 3Q Operating Income Rose

Rathbones Group said its net operating income rose over the third quarter and that it is confident it will meet its operating margin guidance for 2023 and 2024 as it progresses with its integration of Investec Wealth & Investment's U.K. business.

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GB Group 1H Revenue to Fall; Backs Profit Guidance

GB Group said revenue is expected to fall for the first half of fiscal 2024, but that it was confident of meeting its profit expectations for the full year.

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Hollywood Bowl Sees Higher Revenue on Strong UK Performance

Hollywood Bowl Group said it expects revenue for fiscal 2023 to rise on the back of a strong performance in the U.K., and that it sees Ebitda growth ahead of market expectations.

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Hipgnosis Songs Starts Strategic Review, Considers Options Including Management Arrangements

Hipgnosis Songs Fund said it has decided to start a strategic review, considering all options for the future with aim of maximizing shareholder value, including a review of future management arrangements.

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Gear4music Revenue Falls on Lower Overseas Demand and Gross Margin Strategy

Gear4music has reported a fall in first-half revenue given its strategy to prioritize gross margins ahead of sales growth and lower overseas customer demand, and said its full-year outlook is in line with market expectations.

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McBride Shares Leap After on Higher-Than-Expected Earnings

Shares of McBride rose nearly 27% on Thursday after the company said it achieved higher earnings than forecast in the first quarter of fiscal 2024 on high demand, but flagged a continuing volatile inflationary market environment.

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AJ Bell Assets Rise on Higher Inflows

AJ Bell said assets under management and under administration rose in fiscal 2023 driven by inflows as well as higher customer numbers in its platform business.

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Oxford Nanopore Shares Rise on Backed Guidance, GBP70 Mln Investment by bioMerieux

Oxford Nanopore shares rose after it reiterated plans to be earnings breakeven by 2026, and said bioMerieux has made a 70 million pound ($85 million) investment in it though the purchase of shares at a premium.

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PensionBee Nine-Month Revenue Rose on Strong Net Inflows; Backs Guidance

PensionBee Group said revenue for the nine months to Sept. 30 rose due to strong net inflows from new and existing customers, and backed its guidance for the year.

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Amedeo Air Four Plus Says Airlines Now Able to Pay Pandemic Debt

Aircraft leasing fund Amedeo Air Four Plus said increased leisure yields mean airlines are profitable and now able to start paying down the high levels of debt incurred during the pandemic.

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Eco Buildings Group Shares Fall After Trading Resumption, Widened 1H Loss

Eco Buildings Group shares fell after they were restored to trading, and as the company posted a widened first-half pretax loss on takeover costs.

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Tatton's 1H Asset Under Management Rose; Saw Strong Organic Net Inflows

Tatton Asset Management said that assets under management for the first half of fiscal 2024 rose and organic net inflows were strong, despite wider market volatility.

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Spire Healthcare Group Buys Vita Health Group for GBP75 Mln

Spire Healthcare Group said it has bought U.K. mental and physical health services provider Vita Health Group for a net cash consideration around 75 million pounds ($91 million).

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MediaZest Shares Jump on Higher Revenue, Boosted by New Business

Shares of MediaZest rose in early trade Thursday after the company said that revenue for the second half of fiscal 2023 was higher than the first half and that the new fiscal year has started strongly on the back of new business.

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Capital Metals Shares Rise After Sri Lankan Bureau Ordered to Reissue Mining Licenses

Capital Metals shares rose after the company said it has received a favorable decision from a statutory appeal hearing, with Sri Lanka's Geological Survey and Mines Bureau ordered to reissue two industrial mining licenses for the Eastern Minerals project.

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Sabre Insurance Raises Guidance After Recent Premiums Beat Expectations

Sabre Insurance Group has reported a rise in nine-month gross written premiums and raised its full-year guidance after higher-than-expected premiums in recent months.

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Arbuthnot Banking 3Q Client Deposits, Assets Under Management Rose

Arbuthnot Banking Group said higher interest rates boosted the client deposits of its banking business over the third quarter while it saw net inflows and positive market performance in its wealth management division.

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Science in Sport CEO Stephen Moon Steps Down; Chairman Dan Wright Becomes Executive Chair

Science in Sport said Chief Executive Officer Stephen Moon will step down with immediate effect, and that Chairman Dan Wright has been appointed executive chairman.

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Tirupati Graphite Shares Fall as Lack of Working Capital Limits Output, Sales

Shares in Tirupati Graphite dropped 15% after the company said its growth in production and sales is being limited by working-capital constraints, which the company is looking to rectify.

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Saietta Pretax Loss Widened on Costs; Will Seek Funding to Capitalize on Pipeline

Saietta Group said its fiscal 2023 pretax loss widened on higher costs, and that it plans to raise additional funding in the fourth quarter of 2023 to fully capitalize on the potential additional sales contracts in the pipeline.

MARKET TALK:

Whitbread Supply Dynamics Should Support Premier Inn Demand Growth

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10-19-23 1211ET