London's blue-chip index ended the session 0.81% lower at 7,512.28 points on Tuesday after U.S. inflation data sent global markets lower, dragging the FTSE 100 to its lowest point since Jan. 25. "A higher-than-expected U.S. CPI print provoked a sell-off in global equities as rate cut expectations are pushed back," IG analyst Axel Rudolph writes in a market comment, adding that the market now prices in a 53% probability of a first cut in June, instead of March and then May. "So, once again, it's volatility time for equities as risk appetite decreases and investors take a step back and wonder if they should lock in some profits from the recent rally on the U.S. market," AJ Bell analyst Dan Coatsworth says.


Cairn Homes Names Richard Ball as New CFO, Joining in April

Cairn Homes named Richard Ball as its incoming chief financial officer, succeeding Shane Doherty and joining in April.


Belluscura Signs Distribution Agreement with Sunset HealthCare

Belluscura said it reached an agreement with Chicago-based manufacturer of home medical equipment Sunset HealthCare Solutions to expand its distribution network.


Ultimate Products Expects Full-Year Performance to Meet Market Views

Ultimate Products said it expects its fiscal-year profit performance to match current market views, and that it is planning share buybacks in line with a new capital allocation policy.


Frasers Raises Stake in AO World

Frasers Group increased its shareholding in online electrical retailer AO World to 24.7% from 23.1%, according to regulatory filings published on Tuesday.


Babcock International on Its Way Toward Full Health

1312 GMT - Babcock International advances toward a full recovery amid rising expenditutre on defense, although a detailed disclosure on its activities remains thin, Shore Capital analysts Robin Speakman and Jamie Murray say in a note. The engineering services specialist to defense and nuclear markets should break down its activity and contract exposures across divisions, at least in terms of revenue, the analysts say. They add that a measure of its turnaround was the restoration of sustainable, positive and economic capital returns, in addition to growing cash generation. "Babcock continues to make good progress in marching back to full health," the analysts say. Shares are down 2.8% at 456.40 pence, but up 48% over the past 12 months. (


Fraport's Rise in Passengers Seen in Line With Expectations

1155 GMT - Fraport's passenger numbers at Frankfurt Airport grew in January to around 4.1 million, or roughly 11% on year, which was broadly in line with Citi's expectation of 4 million passengers, the analysts say in a research note. Although January passenger traffic at the German airport was at 87% of 2019 levels, the on-year increase was helped by a railroad strike which led to more flights being booked, the analysts say. Passenger traffic grew for the group in Greece and in Peru and exceeded 2019 levels in both locations, the analysts say. "We remain optimistic on Fraport and expect traffic recovery to continue," the analysts say. Shares trade 1.4% down to EUR51.64. (


Naked Wines Loan to Provide Extra Flexibility

1153 GMT - Naked Wines' early redemption of a GBP12 million vendor loan note will provide financial flexibility and additional leverage for its liquidity and costs, Liberum analysts Wayne Brown and Anubhav Malhotra say in a note. These extra proceeds could eventually help the online wine retailer to reduce its inventory, as the existing asset-backed lending facility is linked to the U.S. inventory, or renegotiate its existing facility, they say. FY 2024 net cash guidance remains between flat to GBP15 million, and Liberum raises its forecast to GBP12.4 million from previous expectations of GBP3.2 million, they say. "Considering the group's track record with cash, let's hope they don't burn through this too quickly," the analysts add. Shares are up 3.3% but down 40% on a 12-month basis. (


TUI's 1Q Shows It Has Significant Pricing Power

1053 GMT - TUI's 1Q sharply surpasses analysts' expectations--with a swing to adjusted EBIT of EUR6 million from a loss--showing it upheld demand as its prices increased, Interactive Investor analyst Victoria Scholar says in a note. This highlights how the travel operator has significant pricing power to pass on additional cost pressures to consumers, Scholar says. Elsewhere, however, the London Stock Exchange could be bracing for yet another blow as TUI decides whether to abandon its London listing as it becomes the latest in a slew of companies leaving the LSE and listing in rivals like New York or Frankfurt. "This comes after a period of weak price action in the U.K. post Brexit, resulting in discounted valuations for U.K. stocks," Scholar says. Shares are up 2.7% at 595 pence.(

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(END) Dow Jones Newswires

02-13-24 1210ET