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    MTRO   GB00BZ6STL67

METRO BANK PLC

(MTRO)
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Delayed London Stock Exchange  -  11:35 2022-06-24 am EDT
80.40 GBX   +2.94%
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FTSE 100 rises on gains in miners, strong earnings; Aveva slumps

04/27/2022 | 04:39am EDT
FILE PHOTO: A worker shelters from the rain as he passes the London Stock Exchange in London

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Aveva drops on profit warning

* FTSE 100 up 0.5%, FTSE 250 off 0.3%

April 27 (Reuters) - London's FTSE 100 edged up on Wednesday, driven by gains in miners and strong corporate updates, although a fall in cyclical stocks and industrial software company Aveva Group capped its rise.

The blue-chip index advanced 0.5%, with Anglo American rising 5.2% to lead gains among miners . The domestically focused midcap FTSE 250 index closed 0.3% lower.

Metro Bank climbed 4.7% after the challenger lender said it was on track to deliver rising profits and achieve its strategic objectives, while transport operator Go-Ahead rose 3.8% after forecasting higher 2022 earnings.

Broadly, sentiment was subdued as fears grew over the global economic outlook after Russian energy giant Gazprom halted gas supplies to Bulgaria and Poland for failing to pay for gas in roubles.

Lloyds Banking Group gave away early gains to end 0.3% lower despite the lender reporting upbeat first-quarter profits, largely shrugging off Britain's worsening cost of living crisis.

However the wider bank index rose 1.2%, with HSBC Holdings rebounding from a sharp selloff on Tuesday.

"While other companies take a sharp intake of breath about more aggressive monetary policy, it's a boon to banks like Lloyds given (that) rising rates lift net interest margins," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.

"There are worries that at some point mounting rates could knock buyer sentiment, but with rents high and mortgages still cheap historically, it seems there is still plenty of appetite to move onto and up the housing ladder."

"It is a concern because traders are wondering that the oil prices and the fuel prices are already sky high, and the fact that Russia has began the process of demanding payment in rouble, we could see oil prices even higher from here," said Naeem Aslam, chief market analyst at Ava Trade.

Diageo fell 0.1% and was the biggest drag on the FTSE 100 index, leading losses in consumer staples, after Deutsche Bank downgraded the spirit maker's stock to "hold" from "buy."

Aveva slumped 15.9% to the bottom of the FTSE 100 index after it warned that revenue hit from sanctions on Russia would impact its operating profit this year. (Reporting by Devik Jain and Amal S in Bengaluru Editing by Vinay Dwivedi and Mark Heinrich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AVEVA GROUP PLC -0.44% 2463 Delayed Quote.-27.64%
DIAGEO PLC 3.83% 3671 Delayed Quote.-9.04%
FTSE 100 2.68% 7208.81 Delayed Quote.-4.93%
FTSE MID 250 INDEX 2.30% 19123.71 Delayed Quote.-20.39%
HARGREAVES LANSDOWN PLC 3.39% 804.6 Delayed Quote.-40.62%
LLOYDS BANKING GROUP PLC 2.61% 43.415 Delayed Quote.-9.17%
LONDON BRENT OIL 2.22% 112.44 Delayed Quote.41.22%
METRO BANK PLC 2.94% 80.4 Delayed Quote.-16.34%
PJSC GAZPROM -2.47% 296 End-of-day quote.-13.77%
THE GO-AHEAD GROUP PLC 0.00% 1600 Delayed Quote.139.88%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.63% 53.6 Delayed Quote.-27.94%
WTI 3.07% 107.53 Delayed Quote.37.83%
All news about METRO BANK PLC
06/23METRO BANK : Solihull Metro Bank Colleagues Volunteer Support for Local Hospice
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06/20METRO BANK : Watford Metro Bank Welcomes Local Businesses to Network Event
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Analyst Recommendations on METRO BANK PLC
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Financials
Sales 2022 466 M 572 M 572 M
Net income 2022 -93,2 M -115 M -115 M
Net Debt 2022 - - -
P/E ratio 2022 -1,49x
Yield 2022 -
Capitalization 139 M 170 M 170 M
Capi. / Sales 2022 0,30x
Capi. / Sales 2023 0,27x
Nbr of Employees 4 184
Free-Float 73,3%
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Technical analysis trends METRO BANK PLC
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 80,40 GBX
Average target price 111,75 GBX
Spread / Average Target 39,0%
EPS Revisions
Managers and Directors
Daniel Frumkin Chief Executive Officer & Executive Director
Robert Sharpe Non-Executive Chairman
Cheryl McCuaig Chief Information Officer
Aisling Kane Chief Operating Officer
Monique Melis Independent Director
Sector and Competitors