The FTSE 100 closed Friday down 1.24%, as inflation fears hit stock markets again this afternoon, IG Group says. The index isn't alone, as markets across Europe moved lower following signs that price pressures in the U.S. are beginning to revive, IG Group Chief Market Analyst Chris Beauchamp says in a market comment. "Stocks have been highly sensitive to bad news throughout August, and a combination of rising U.S. inflation and weak Chinese data in recent sessions has been enough to tip the FTSE 100 to the downside once again," Beauchamp says.


VP CFO Anna Bielby to Become CEO as Neil Stothard Retires

VP PLC's Chief Executive Neil Stothard is retiring from the group at the end of September and will be replaced by Anna Bielby, currently its chief financial officer.


UnitedHealth, EMIS Merger Cleared Provisionally by UK Regulator

The U.K.'s Competition and Markets authority said it hasn't found any competition concerns in the UnitedHealth Group and EMIS Group merger so far following an in-depth investigation, clearing the 1.2 billion pounds ($1.52 billion) deal provisionally.


Chaarat Gold Holdings' Kapan Production Falls, Mulls Sale of Mine

Chaarat Gold Holdings has reported a fall in production from its Kapan Mine in Armenia for the first half, and is considering a potential sale of the asset.


Smoove Extends PEXA's Takeover Offer Deadline

Smoove said that the deadline for PEXA Group to make a firm takeover offer has been extended to Sept. 8.


Celsius Resources Says Shareholders Unlikely to Approve Silvercorp Takeover Bid

Celsius Resources said Silvercorp Metals' current takeover offer is unlikely to have substantial support from shareholders and that it is considering other approaches.


FBD Holdings Pretax Profit Rose on Insurance Revenue, Investment Returns

FBD Holdings' pretax profit grew over the first half of 2023 driven by insurance revenue growth, investment returns and lower expenses.


GCP Infrastructure to Merge With GCP Asset Backed in GBP907 Mln Deal

GCP Infrastructure Investments has agreed to merge with GCP Asset Backed Income Fund under a deal that will result in GCP Asset being wound up and its assets transferred to the company in exchange for shares, creating a company worth about 907 million pounds ($1.15 billion).


FIH Group Appoints Nicholas Henry as Nonexecutive Chair

FIH Group has named Nicholas Paul Henry as nonexecutive chairman and director, succeeding Robin Williams.


Atlantis Japan Growth Fund to Merge With Nippon Active Value Fund

Atlantis Japan Growth Fund has agreed to merge with U.K. investment trust Nippon Active Value Fund whereby Nippon will buy Atlantis's assets in exchange for shares.


SW (Finance) I Raises GBP550 Mln More for Southern Water Group

SW (Finance) I raised a further 550 million pounds ($697.1 million) in equity to support the turnaround plan of its holding company Southern Water Group.


Twentyfour Select Monthly Income Fund Chair Retires; Ashley Paxton Named Successor

Twentyfour Select Monthly Income Fund said Friday that nonexecutive director and Chair Claire Whittet has retired, and named Ashley Paxton as the new chair of the investment company.


Capita Expected to Report Profitability Rise, Stronger Free Cashflow

1146 GMT - Capita's interim results continued to show operational challenges, stubbornly high debt and negative cashflow--which includes a GBP25 million charge for cyber breaches and the possibility of a fine--Shore Capital analyst Robin Speakman says in a note. Still with its restructuring due to be complete this year, it is apparent the outsourcing company is set to start delivering better results, Speakman says. Challenges--such as non-performing contracts and peers moving ahead as it restructured--remain, but its survival isn't in doubt, according to the analyst. "Over the next year we expect to see free cashflow strengthen and profitability rise." Shore raises its rating on the stock to buy from hold.(


European Stocks Drop After Asia Losses; US Eyes Gains

1043 GMT - European stocks drop after downbeat Asia trading, though Wall Street looks set to edge higher. The Stoxx Europe 600 and CAC 40 fall 0.6%, the FTSE 100 backtracks 1% and the DAX retreats 0.3%, with property and tech stocks among the biggest fallers. IG futures data show the Dow opening at 35197, versus Thursday's close of 35176. Asia markets fell, with Chinese stocks dropping 1.9%. The U.K. economy expanded by a better-than-expected 0.2% in 2Q, according to official data, though economists voiced caution. "The U.K. economy remains in a precarious place," British Chambers of Commerce Head of Research David Bharier writes. "Businesses continue to face a worrying mix of high inflation, rising interest rates, a tight labor market and global economic uncertainty." (

Contact: London NewsPlus,

(END) Dow Jones Newswires

08-11-23 1204ET