FTSE 100 drops as weaker crude hits oil majors
FTSE 100 drops as oil stocks, Smiths Group drops
0916 GMT – The FTSE 100 index fell 0.2%, or 17 points to 7450 as falling crude prices weighed on oil inventories. The price of a barrel of Brent fell 2.3% to $112.64, bringing down BP and Shell by 1.7% and 0.8% respectively. Smiths Group fell 2.3% after the industrial conglomerate reported higher first-half profits but left its full-year guidance unchanged. Mexican silver miner Fresnillo and Chilean copper miner Antofagasta fall as gold, silver and copper prices lose ground, although other miners such as BHP, Glencore, Anglo American and Rio Tinto are higher. Gains in property and retail stocks limit losses, despite data showing a 0.3% drop in UK retail sales in February. ([email protected])
JP Morgan sells 60 million shares of Airtel Africa for Singapore Telecom at 140 pence each
JP Morgan Securities PLC announced on Friday that Singapore Telecom International Pte had sold 60 million ordinary shares of Airtel Africa at a price of 140 pence each.
Anglo American sells its remaining stake in Thungela Resources for $115m
Anglo American PLC announced on Friday that it has sold its remaining stake in Thungela Resources Ltd. through an accelerated placement at a reduced price aimed at major financial institutions.
Smiths Group’s first half pre-tax profit increased on strong demand; back guide
Smiths Group PLC said on Friday first-half profit and pre-tax revenue rose and it was confident it would meet full-year guidance.
Airtel Africa closes sale of tower in Malawi for $54.7 million
Airtel Africa PLC announced on Friday that it has completed the first closing of the transaction to sell its telecommunications tower company in Malawi to Helios Towers PLC for $54.7 million.
United Utilities expects 3% revenue increase for fiscal 2022
United Utilities Group PLC said on Friday it expects a 3% increase in revenue for the 2022 financial year and that its performance is in line with the board’s expectations for the year.
CyanConnode to raise £2m via discounted equity placement and subscription offering
CyanConnode Holdings PLC announced on Friday that it is offering to raise two million pounds ($2.6 million) through the issue and subscription of shares in the company at a discounted price.
Everyman Media’s 2021 pre-tax loss reduced as Covid-19 measures eased
Everyman Media Group PLC said on Friday its pre-tax loss for 2021 narrowed while its revenue more than doubled as coronavirus pandemic restrictions were eased from a year earlier, but not entirely eliminated. .
Petropavlovsk says it cannot pay Gazprombank loan due to sanctions
Petropavlovsk PLC said on Friday it was currently barred from repaying a $560,000 loan due to Gazprombank’s inclusion on the UK’s sanctions list in relation to Russia’s invasion of Ukraine. .
Aeorema Communications switches to 1H pre-tax profit on high demand
Aeorema Communications PLC said on Friday it moved to a pre-tax profit for the first half of the 2022 financial year on the back of an increase in revenue after experiencing strong demand.
Wickes’ 2021 pre-tax profit increased on market share gains
Wickes Group PLC on Friday announced an increase in its pre-tax profit for 2021, driven by further market share gains and its numerical strength.
United Utilities update implies pre-tax revenue shortfall, but net profit overrun
0909 GMT – United Utilities pointed to a 3% rise in revenue year-on-year, implying a better-than-consensus figure of £1.87billion, Jefferies said. The water supply company said it expects year-on-year EBIT to be flat with an increase in interest expense of £175m, implying a pre-tax profit of £292m, in line with Jefferies’ expectations but 7% below consensus of £313m. Still, the company expects an underlying tax credit of £60million for the 2022 financial year on the temporary super deductibility of capital expenditure and the tax effects of the previous year, said the American bank. That implies a net profit of £350m, 16% above consensus, according to the bank. Jefferies values the shares held and has a target price of 1,065.50 pence. The shares are up 0.5% at 1,070.50 pence. ([email protected])
Keystone Law stock price could be a good entry point
09:04 GMT – Keystone Law Group’s share price is down 32% year-to-date with no negative news and despite saying 2022 earnings will beat expectations, making its current valuation a good entry point, said Shore Capital. The London-listed law firm’s business model is robust and recent EPS upgrades suggest the company has strong fundamentals. Shore forecasts a fair value of 758 pence per share, 34% above its current price. The company updates its recommendation on which stock to buy on hold. The shares are up 0.9%, at 570.0 pence.
Gemfields Group’s balance sheet looks strong and poised for growth
08:55 GMT – Profits at Gemfields Group have been strong again in 2021, and the company is poised to continue a growth trajectory while returning cash to shareholders, Liberum says. The UK investment bank notes that the unexpected declaration of a $20 million special dividend means the company has a dividend yield of 7.3%, the highest in the industry. Liberum has a buy rating on the stock and is raising its target price from 23.0 pence to 25.0 pence. ([email protected])
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(END) Dow Jones Newswire
March 25, 2022 05:35 ET (09:35 GMT)
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