The FTSE 100 closed 0.59% lower on Friday at 7,599.60 points, with the strength of energy and mining stocks helping limit the downside of the wider blue-chip index, dragged by wealth manager St James's Place after reports on regulatory pressure to change its fee model, which could impact its business in a negative way, CMC Markets UK analyst Michael Hewson writes. More widely, "European equity markets have slipped back at the end of a week that has seen stock markets prove to be remarkably resilient, despite surging oil prices and concern over a possible Israeli incursion into Gaza," Hewson adds.


COMPANIES NEWS:

Loungers Sees Revenue Growth After Like-For-Like Sales Rose

Loungers has reported strong revenue growth for the first half of the year reflecting a rise in like-for-like sales and its progressive expansion strategy.

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Microsoft's Activision Deal Gets Green Light From U.K. Regulator -- Update

By Kim Mackrael

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Crest Nicholson Names William Floydd as New Finance Director

Crest Nicholson Holdings named William Floydd as incoming group finance director designate, effective from Nov. 13 and replacing Duncan Cooper.

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Avon Protection's 2H Performance Stronger Than in 1H

Avon Protection said its performance in the second half of fiscal 2023 was stronger than in the first half as its order book grew and it achieved higher underlying earnings, and that its performance for the year was in line with expectations.

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Celadon Pharmaceuticals to Raise GBP1 Mln via Discounted Placing, Subscription

Celadon Pharmaceuticals said it will raise 1 million pounds ($1.2 million) via a discounted share placing and a subscription, and that it will use the proceeds as additional working capital.

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Christie Group Slumps on Transaction Unpredictability, Possible Delays

Christie Group shares fell after it said unpredictability remains in the precise dates of transactions and some might be delayed into 2024, despite improved invoicing levels for the second half of the year to date.

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Resolute Mining Cuts 2023 Gold Production View; Sets Three-Year Targets

Resolute Mining has cut its overall gold production target for 2023 after ceasing mining in an open pit area at its Syama gold mine in Mali.

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Mirriad Advertising Names Nicholos Hellyer as New CFO

Mirriad Advertising said it has appointed Nicholos Hellyer as chief financial officer designate, joining the board in November and taking over from David Dorans.

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Foresight Sustainable Forestry Gets $8.3 Mln Properties

Foresight Sustainable Forestry said Friday it has made three property acquisitions in Scotland totaling 8.3 million pounds ($10.1 million).

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Allergy Therapeutics to Raise GBP40.75 Mln; Mandatory Cash Offer Triggered

Allergy Therapeutics said Friday that it will raise around 40.75 million pounds ($49.6 million) via an open offer and a subscription as part of a previously announced deal with ZQ Capital Management Ltd. and Southern Fox Investments Ltd., triggering a mandatory offer for the biotechnology company.

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Shares in TomCo Energy Rise on GBP100,000 Fundraise via Subscription With Shareholder

TomCo Energy shares rose after it said it has raised 100,000 pounds ($121,740) via a premium subscription with an existing shareholder, and that it will use the capital to further develop its Greenfield Energy development in Utah.

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City of London Investment Group's 1Q Funds Under Management Fell

City of London Investment Group said its first-quarter funds under management fell sequentially on weaker market conditions and sentiment.

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Chrysalis Investments Will Propose New Capital Distribution Policy at Annual Meeting

Chrysalis Investments said it will propose to shareholders a capital allocation policy that will see it buy back 100 million pounds ($121.7 million) worth of shares, as well as a revision to its performance-fee arrangement.

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Premier Miton Assets Under Management Fell on Investor Uncertainty

Premier Miton Group said that assets under management declined in the fourth quarter of fiscal 2023 as investors shy away from equity funds, particularly in U.K. and European sectors.

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HealthBeacon's Position Worsens; Urgently Needs Funds to Continue

HealthBeacon said it needs additional financing urgently to continue as a going concern, as its short-term cash working capital position has deteriorated further over the past week.

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NatWest Group Pension Fund Considers Sale of Phoenix Energy Stake, Bloomberg Reports

--NatWest Group Pension Fund is considering selling its 50% stake in Northern Irish gas distributor Phoenix Energy, which could be valued at around 1.2 billion pounds ($1.46 billion), Bloomberg reports, citing unnamed sources.


Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

10-13-23 1244ET