The FTSE 100 closed Thursday up 1.42% after the Bank of England held rates steady, raising hopes the tightening cycle is done. This rally comes almost on cue in seasonality terms, but is doubtless based on expectations that rates will pause here, and in due course come down, IG Group chief market analyst Chris Beauchamp says in a market comment. However, investors have been disappointed on this front before, so need to resist the temptation to charge back into stocks too quickly, Beauchamp says. "They [rate rises] are not off the table, just out of reach for now," Beauchmap says.
Shell Earnings Rose on Higher Energy Prices; Launches $3.5 Bln Buyback
Shell's third-quarter earnings rose on higher refining margins, oil prices and gas and oil sales, while it launched a $3.5 billion share buyback program.
Entain Backs Full-Year View After Net Gambling Revenue Rise
Entain said that its net gaming revenue increased 7% in the third quarter, reaffirmed full-year earnings and revenue expectations and set out an updated strategic plan.
Haleon Backs Guidance After 3Q Organic Revenue Growth
Haleon said that organic revenue grew 5% in the third quarter on pricing and positive volume mix, and backed its full-year guidance.
British American Tobacco Names Soraya Benchikh as New CFO
British American Tobacco named Soraya Benchikh as its next chief financial officer, effective from May 1 and succeeding interim Finance Director Javed Iqbal.
BT Group Pretax Profit Rises on Higher Consumer Demand
BT Group has reported a higher pretax profit for the first half of fiscal 2024 driven by increased consumer demand and higher volumes in Openreach's fiber to the premises, or FTTP, service.
Sainsbury's Raises FY 2024 Guidance
J Sainsbury lifted its guidance for fiscal 2024 on volume strength as it posted sales growth driven by groceries for the first half of the year.
Hikma Pharmaceuticals' Injectables Growth Lower Than Expected in North America
Hikma Pharmaceuticals said that growth in its injectables business in North America has been lower than expected, and that revenue growth and operating margins were expected to be at the lower end of guidance.
Howden Joinery Sees Pretax Profit at Lower End of Guidance After Fall in UK Revenue
Howden Joinery that total U.K. revenue in the year to date was lower than in 2022, and that it now sees profit guidance for the year being toward the lower-end of consensus amid an uncertain macro outlook.
Smith & Nephew Adjusts 2023 View After 3Q Revenue Rise
Smith & Nephew tweaked its guidance for the year as it posted a slightly better-than-expected rise in revenue for its third quarter and appointed a new chief financial officer.
Morgan Sindall Expects To Meet Full-Year Targets on Strong Performance in Most Units
Morgan Sindall Group said it remains on track to meet its full-year expectations even as the market conditions remain challenging.
Derwent London's 9-Month Lettings Beat Rent Values; Demand Remains Strong
Derwent London said lettings signed in the year to date have been significantly above estimated rent values and that demand remains strong.
Mitie Group Buys GBE Converge Group for GBP27 Mln
Mitie Group has acquired GBE Converge Group, which provides fire, security and information and communications technology solutions, for 27 million pounds ($32.8 million) in cash.
Empiric Student Property Occupancy, Rent Growth Beats Expectations
Empiric Student Property said that occupancy and rental growth rose at the beginning of the academic year 2023-24 ahead of expectations, and hiked its dividend target.
Helios Towers Raises Guidance After Adjusted Earnings Rose on Tenancy Growth
Helios Towers reported higher adjusted earnings for the third quarter, driven by tenancy growth, and upgraded its full-year guidance across all metrics.
Trainline Pretax Profit Rises on Higher Net Ticket Sales; Sees Continued 2H Growth
Trainline said pretax profit rose for the first half of fiscal 2024, as net ticket sales increased, and that it expects growth to continue in the second half as rail passenger numbers have almost fully recovered from the pandemic.
TI Fluid Systems Backs Full-Year Target After Strong Year-To-Date Revenue Growth
TI Fluid Systems backed its full-year guidance after revenue rose in the first nine months of the year, citing strong growth across both its segments and most regions.
Primary Health Properties Appoints Harry Hyman as Nonexecutive Chairman
Primary Health Properties has appointed Founder and Chief Executive Officer Harry Hyman as nonexecutive chairman, subject to shareholder approval at the annual general meeting on April 24.
VP PLC Appoints Keith Winstanley as Chief Financial Officer From January
VP PLC said that it has appointed Keith Winstanley as chief financial officer from January.
OSB Group Raises 2023 Loan Book Growth Guidance
OSB Group lifted its loan book growth guidance for 2023 as it posted a strong lending for the third-quarter of the year, and said its chief financial officer intends to retire.
R.E.A. Holdings Sees Increased Cash Resources Allowing Dividend Arrears Payment; Shares up
Shares in R.E.A. Holdings rose after it said it expects the increased cash resources following a series of transactions and investments to allow for the payment of dividend arrears on preference shares and to ensure funds to meet repayments.
Ross Group Shares Suspended After Account Delay
Ross Group's shares were suspended on Wednesday after a delay to publishing its fiscal 2023 accounts.
Playtech Notes Lottomatica's Acquisition of SKS365
Playtech said Thursday said that it will continue to evaluate selected acquisition opportunities supporting its expansion strategy as it noted that Lottomatica is buying SKS365 Malta Holdings.
Lloyds Banking Rejects Barclay Family GBP1 Bln Offer for The Telegraph, FT Reports
-- Lloyds Banking Group rejected a 1 billion-pound ($1.22 billion) offer for British newspaper The Telegraph from the Barclay family, which was backed by Middle Eastern investors, the Financial Times reports citing unnamed sources.
MC Mining Shares Rise After Takeover Approach
MC Mining shares rose after the group said it has received a takeover approach from substantial shareholders to acquire a major part of its outstanding shares.
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(END) Dow Jones Newswires