Sterling Could Rise Against Euro, Looks Vulnerable Versus Dollar
0958 GMT - A weak eurozone economy and the possibility of the Bank of England raising interest rates again at its meeting on Sept. 21 mean sterling could rise against the euro, but it is at risk of falling against a stronger dollar, says ING currency analyst Chris Turner. "The manufacturing slump in the eurozone and these high energy prices suggest EUR/GBP can trade at the lower end of that 0.8500-0.8600 range into that BOE rate meeting." The pound could drop below $1.2500, however, as the dollar continues its "relentless rise," lifted by higher U.S. Treasury yields, he says. EUR/GBP is last up 0.2% at 0.8550. GBP/USD falls 0.1% to 1.2551, having hit a 12-week low of 1.2527 on Tuesday, according to FactSet. (firstname.lastname@example.org)
Barratt Developments FY 2023 Pretax Profit Rose; Backs Guidance for Lower FY 2024 Sales
Barratt Developments' pretax profit rose together with revenue as house prices increased and it was affected by fewer adjusting items, and backed its guidance for lower completions in fiscal 2024.
Ashmore Group Pretax Profit Fell On Tough Start to the Year
Ashmore Group's pretax profit fell in fiscal 2023 due to a weaker first half-year amid tightening policy rates, banking failures and geopolitical tensions, but market conditions in emerging markets are recovering, it said Wednesday.
WH Smith Backs Upgraded FY 2023 Earnings After Strong 2H
WH Smith expects to meet upgraded fiscal 2023 earnings, with its performance driven by travel on the back of strong passenger numbers in the second half year.
Bakkavor's Pretax Profit Rose; 2023 Adjusted Operating Profit Seen Ahead of Views
Bakkavor Group said pretax profit for the first half rose, boosted by price and volume recovery in China, and that it expects adjusted operating profit for the year to be ahead of consensus by around 4 million pounds ($5 million).
M Winkworth 1H Profit Slipped on 2Q Weakness; Revenue Broadly Flat
M Winkworth said its pretax profit fell 24% though revenue remained flat, as its first half was dragged down by a weaker second quarter for sales, with some completions delayed into the second half of the year.
Gateley Pretax Profit Fell on Higher Costs; Sees FY 2024 in Line With Board's Expectations
Gateley (Holdings) said pretax profit fell for fiscal 2023 after booking higher costs, and that fiscal 2024 had started in line with the board's expectations and with a food pipeline of work.
Hochschild Mining Cuts Full-Year Production View After 1H Swing to Pretax Loss
Hochschild Mining said it has lowered its full-year production view after a swing to pretax loss in the first half on impairments charges.
Halfords Group Sees FY 2024 Performance in Line With Views
Halfords Group that fiscal 2024 performance to date has been in line with expectations, with services division remaining robust but discretionary markets softer.
Barratt Developments FY 2023 Pretax Profit Rose; Backs Guidance for Lower FY 2024 Sales -- Update
Barratt Developments' reported pretax profit rose together with revenue, though adjusted profit fell and it said it expects market conditions to remain tough over the coming months, retaining its guidance for lower completions in fiscal 2024.
Beeks Financial Cloud to Report Higher Revenue, Underlying Pretax Profit
Beeks Financial Cloud Group said it expects to report a rise in revenue and underlying pretax profit for fiscal 2023, and that the board had significant visibility on its fiscal 2024 expectations.
Severfield Sees FY 2024 Meeting Its Views After Robust Start to Year
Severfield said its performance in the five months of fiscal 2024 has met management expectations, and that its outlook remains positive.
Restaurant Group Raises 2023 Guidance After Strong 1H Performance
Restaurant Group has raised its full-year adjusted Ebitda forecast as it reported a swing to pretax profit for the first half year on higher revenue that was driven by Wagamama, pubs and concessions.
Oxford Nanopore Technologies Backs Full-Year View Despite Widened 1H Pretax Loss
Oxford Nanopore Technologies backed its full-year view despite a widened pretax loss in the first half of the year due to a 30% drop in revenue.
Omega Diagnostics Says FoodPrint Production Issues Resulted in Order Backlog
Omega Diagnostics Group said that its FoodPrint test product had some production issues toward the end of the fiscal year ended March 31 which resulted in lower production yields and a backlog in the fulfillment of some orders.
Surgical Innovations Warns Production, Supply-Chain Problems Will Hurt Profit
Surgical Innovations Group expects to report a modest profit in adjusted Ebitda in 2023 as persistent production and supply-chain disruptions are likely to continue to hurt profits in the second half of the year.
Darktrace FY 2023 Pretax Profit Rose on Robust Revenue Increase
Darktrace said that fiscal 2023 pretax profit rose on the back of revenue growth across all geographic markets and customer sizes.
Solid State Backs Recently Upgraded FY 2024 Guidance on Strong Divisional Performance
Solid State said it has made a strong start to the financial year across both its divisions, and said it was confident in meeting recently upgraded forecasts.
Concurrent Technologies Buys Phillips Aerospace for $3.375 Mln
Concurrent Technologies has bought Phillips Machine & Welding--known as Phillips Aerospace--for $3.375 million in shares and cash, as part of its strategy to boost its U.S. operations.
Light Science Technologies Shares Rise After Tomtech Acquisition
Light Science Technologies Holdings shares rose after the group announced the acquisition of Tomtech Ltd. for a total consideration of 500,000 pounds ($628,250), upon certain conditions.
Bridgepoint to Acquire Energy Capital to Create $61.11 Bln Asset Manager
Bridgepoint Group said it will add infrastructure specialist Energy Capital Partners Holdings and its affiliated entities to its platform for an enterprise value of 835 million pounds ($1.05 billion), creating a 57 billion euro ($61.11 billion) global private markets asset manager.
Gusbourne Appoints Mike Paul as Interim CEO
Gusbourne said that nonexecutive Director Mike Paul has been appointed as interim chief executive officer, replacing Charlie Holland.
RM Infrastructure Income Seeks Wind-Down After GCP Merger Talks Collapse
RM Infrastructure Income is proposing a managed wind-down after discussions with GCP Infrastructure Investments ended, it said Wednesday.
Powerhouse Energy's Pretax Loss Narrows Amid Strategy Change; CEO Keith Riley Steps Down
Powerhouse Energy said its pretax loss narrowed in the first half of the year despite falling revenue as the company shifts strategy.
Bloomberg's Planned Takeover of Broadway Technology Cleared by UK Regulator
The U.K.'s Competition and Markets Authority said it has cleared Bloomberg's acquisition of Broadway Technology after deciding it doesn't qualify for investigation.
Goldman Sachs Asset Management wins UK's largest OCIO mandate with BAE Systems -- Financial News
The move will see the scheme's in-house investment management team join GSAM towards the end of 2023
Merit Group FY 2023 Loss Widened After Restructure but Says New Year Off to Good Start
Merit Group's pretax loss widened despite a rise in revenue after taking losses on disposals, but has made a positive start to the new fiscal year, the company said Wednesday.
Bridgepoint to Acquire Energy Capital Partners to Create $61 Bln Asset Manager -- Update
Bridgepoint Group said it will add infrastructure specialist Energy Capital Partners Holdings and its affiliated entities to its platform for an enterprise value of 835 million pounds ($1.05 billion), creating a 57 billion-euro ($61.11 billion) global private markets asset manager.
NatWest to Name Rick Haythornthwaite as Chair, Sky News Reports
-- NatWest Group has lined up Rick Haythornthwaite as its new chairman to replace Howard Davies, Sky News reports citing unnamed sources.
WH Smith's Sales Slowdown Spooks Investors Despite Growth In Travel Activity
1036 GMT - WH Smith's update shows a sharp slowdown in the pace of sales growth for its travel segment, spooking investors and sending shares falling 6.1%, AJ Bell investment director Russ Mould says in a note. The books, magazine and snack retailer's 1H performance a year ago was disrupted by Covid-19, meaning that this current 1H robust growth arguably came from a low base, Mould says. However, it was harder to keep the big year-on-year growth numbers in 2H given that the performance for the same period a year ago was more normalized, he adds. On the positive side, WH Smith's update reflects a growth in travel activity and the fact it is winning market share, Mould says. (email@example.com)
UK Banks Face Risks From 'Unwarranted' Regulatory Review Into Deposit Pricing
1022 GMT - The Financial Conduct Authority's review into deposit pricing poses the most immediate risk to U.K. banks, Numis analyst Jonathan Pierce says in a note. Regulatory intervention is unwarranted and potentially unwise, Pierce adds, noting that banks setting competitive deposit rates seems to be working, so broader intervention could have material unintended consequences. "There is little to no evidence that banks, across their balance sheets, are profiteering. Significant intervention may thus lead to a rebalancing that hurts borrowers and hinders smaller deposit-takers," Pierce writes. The pass-through to borrowers has been much less than 100% and net interest margin is no better than long-term averages across the balance sheet, he says. (firstname.lastname@example.org)
Darktrace's 2H-Weighted Performance Prompts Concerns
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