The FTSE 100 index closed Monday up 0.3% to 7777.7 points, outperforming its European peers on the back of a rebound in commodity prices materials that lifted miners and oil-exposed stocks. International investment manager 3i Group rose 2.6% and lead the raisers list, followed by Centrica and the real estate investment trust Segro, up 2.4% and 2.1%, respectively. Among the top fallers, retailer Ocado was the worst performer with shares down 2.4%, followed by Rolls-Royce, down 2.2%.


COMPANIES NEWS:

Currys Raises FY 2023 Profit View on Improved UK, Ireland Performance

Currys said Monday that it now expects higher fiscal 2023 adjusted pretax profit as its U.K. and Ireland performance has been better than expectations.

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HSBC Sets out Mid-Term Growth Ambitions for Asia Business

HSBC Holdings on Monday issued a medium-term growth outlook for its Asian business.

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Apollo Decides Not to Make Offer for John Wood Group

Apollo Management Holdings said Monday that it doesn't intend to make an offer for John Wood Group.

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BAT Taps Finance Director Tadeu Marroco as CEO to Replace Jack Bowles

British American Tobacco said Monday that Tadeu Marroco, currently the company's finance director, has been appointed as chief executive to succeed Jack Bowles.

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Entain Chief Governance Officer Robert Hoskin to Step Down

Entain said Monday that Chief Governance Officer Robert Hoskin has decided to step down after 18 years with the company.

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Tritax Big Box Begins 2023 Well with Good Take-up, Higher Rents

Tritax Big Box said Monday that it has made a positive start to 2023 despite a more challenging economic backdrop, with solid take-up and increased headline rents.

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WANdisco Plans $30 Mln Equity Fundraise to Provide Working Capital

WANdisco said Monday that it is considering a range of funding options and that the most appropriate is an equity fundraise of $30 million to take advantage of the opportunities ahead and give sufficient capital to continue as a going concern.

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Pembridge Gives Going Concern Warning After Minto Metals Production Halt

Pembridge Resources said Monday that it is assessing its ability to continue as a going concern after Minto Metals said it is unlikely to be able to repay its debt of $2 million unless it raises capital soon after the suspension of operations at its copper and gold mine in Yukon, Canada.

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FRP Advisory Group Sees FY 2023 Earnings Slightly Ahead of Views

FRP Advisory Group on Monday said it expects to report revenue and earnings for fiscal 2023 slightly ahead of expectations and that recent encouraging activity levels lead it to start fiscal 2024 with confidence.

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Keywords Studios Chairman Ross Graham Passes Away

Keywords Studios said Monday that Chairman Ross Graham has unexpectedly passed away.

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Restore Cuts Full-Year Target Despite Revenue Rising Year-To-Date

Restore said Monday that its revenue increased in the first four months of the year, but that it expects full-year adjusted pretax profit below previous targets.

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Microsaic Systems Delays Publication of 2022 Results

Microsaic Systems said Monday that it now expects to publish its 2022 results on or before June 30, as the audit is taking longer than initially anticipated.

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Atalaya Mining 1Q Pretax Profit Slips on Higher Costs; Revenue Rose

Atalaya Mining said Monday that first-quarter pretax profit fell on higher costs, though revenue rose.

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Cerillion 1H Revenue, Profit Rise in Record Half

Cerillion said Monday that revenue and pretax profit rose in a record first half that saw strong momentum and has a strong new customer sales pipeline.

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Life Science REIT Makes First Cambourne Business Park Letting

Life Science REIT said Monday that it has made its first letting at Cambourne Business Park in Cambridge, England, to Rakon Ltd., letting 4,877 square feet at building 2020 at a rent of 25 pounds ($31.12) a foot for 10 years.

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Global Ports FY 2023 Adjusted Earnings Surged; Sees More Passengers in FY 2024

Global Ports Holding said Monday that adjusted earnings rose nearly 10-fold in fiscal 2023 as passenger volumes surged postpandemic, and that it expects even higher passenger volumes in the new year.

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Premier African Minerals to Raise GBP1.75 Mln to Develop Zimbabwe Project

Premier African Minerals said Monday that it will raise 1.75 million pounds ($2.2 million), with the proceeds to used to develop the Zulu Lithium and Tantalum project in Zimbabwe.

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CentralNic 1Q Pretax Profit Fell on Expenses Despite Strong Revenue Growth

CentralNic Group said Monday that its pretax profit fell in the first quarter of 2023 following a rise in expenses and despite a 24% jump in revenue.

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Instem 2022 Pretax Rose; Gets ToxHub Rights

Instem on Monday reported 2022 earnings boosted by a wider product range, price increases and the integration of the previous year's acquisitions and said it has gotten rights to the ToxHub database and software platform.

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Celsius Resources Shares Rise on Takeover Agreement With Silvercorp

Celsius Resources shares rose Monday after it said it has entered a non-binding agreement to be taken over by Silvercorp Metals, in a cash and share deal with an implied value of 56 million Australian dollars ($37.2 million).

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Great Southern Copper Shares Rise After GBP1 Mln Funding for Further Chile Exploration

Shares in Great Southern Copper rose 18% on Monday after the company said that it has secured 1 million pounds ($1.2 million) in funding to finance its exploration programs in Chile.

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Lexington Gold Shares Rise on Proposed Acquisition of White Rivers

Lexington Gold Ltd. shares rose Monday after conditionally agreeing to acquire White Rivers Exploration Proprietary.

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Caledonia Mining Swung to 1Q Loss on Technical Challenges

Caledonia Mining said Monday that it swung to a first-quarter pretax loss and revenue fell due to the integration and start-up of the Bilboes operation and technical challenges at Blanket mine.

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Scotgold Resources Raises GBP2 Mln; Warns Ore Production Will Decide Its Future

Shares in Scotgold Resources rose 11% on Monday after the company said that it has raised 2 million pounds ($2.5 million) to fund the development of its Cononish gold mine in Scotland and provide additional working capital and that its ability to continue to trade going forward is dependent on ore grades.

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Canadian Overseas Petroleum Issues Shares in Conversion for Bonds

Canadian Overseas Petroleum said Monday that it has issued 26.9 million shares pursuant to conversion of $1.4 million in 2027 bonds and $0.8 million in 2028 bonds.

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Union Jack Oil Swung to 2022 Profit on Increased Wressle Production

Union Jack Oil said Monday that it swung to a pretax profit in 2022 and revenue rose, mainly due to elevated cashflow from its flagship Wressle hydrocarbon development in Lincolnshire, England.

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Vianet Group Buys Trade and Assets of Beverage Metrics

Vianet Group said Monday that it has bought the trade and assets of Beverage Metrics for 577,500 pounds ($718,872) which will be covered by issuing shares, with up to GBP4 million to be paid later depending on revenue performance.

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Trident Royalties to Buy Royalties, Milestone Payment Over Mexico Silver Project for Up to $7 Mln

Trident Royalties on Monday said it has agreed with Coeur Mining to buy royalties and a milestone payment over the La Preciosa Silver Project in Mexico for up to $8 million.

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Riverstone Energy to Increase Buyback Amount by GBP30 Mln

Riverstone Energy on Monday said it intends to raise the amount it allocates to share buybacks by a further 30 million pounds ($37.3 million) after its annual general meeting.

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Litigation Capital Management Reaches Settlement in Australian Class Action

Litigation Capital Management said Monday that it has reached a settlement in a class action against the Commonwealth of Australia.

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Esken Sells Ground Handling Operations' Subsidiary For Up To GBP4.8 million

Esken said Monday that it has completed the sale of its wholly owned subsidiary Star Handling to Skytanking UK, a wholly owned subsidiary of Prime Flight Aviation Services, for up to 4.8 million pounds ($6 million).

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Venator Materials to Enter Chapter 11 Bankruptcy

Venator Materials said Monday that it has reached an agreement with the overwhelming majority of its lenders and noteholders on the terms of a comprehensive recapitalization plan, which includes chapter 11 bankruptcy.


MARKET TALK:

Tritax Big Box Shows No Signs of Weakness Despite Cheap Shares

0959 GMT - Tritax Big Box appears to be performing well based on its brief first-quarter update, consistent with RBC Capital Markets' expectations and supporting the belief that its share price weakness over the past year has been unduly harsh, analysts say. The commercial-property investor's long leases to large blue-chip tenants on relatively new properties should limit risk to its income in a recession, though higher costs and valuation declines risk a near-term slowdown in its development volumes, RBC analysts say in a research note. "However, given the positive structural drivers for distribution warehouse space, such a slowdown is likely to be temporary and is more than reflected in [the share price]," the Canadian bank says. RBC retains its outperform rating and 205 pence price target. Shares are up 1% at 147.1 pence. (joseph.hoppe@wsj.com)

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BAT's Sudden CEO Change Raises Performance Concerns

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05-15-23 1215ET