FTSE 100 Recovers After Steep Losses on Covid-19 Fears
The FTSE 100 rises 1.1% to 6920 points after steep losses on
Monday amid worries about rising U.K. coronavirus cases as the
Delta Covid-19 variant spreads. England's remaining coronavirus
restrictions were lifted on Monday but it will take some weeks
before the effects of this on the economy become apparent,
Interactive Investor analyst Richard Hunter says. "As such, this
may be a time to tread carefully until such time as the variant can
be stopped in its tracks, thus allowing the full return to some
kind of normality--and economic recovery--to resume." Mining and
energy shares are among the biggest risers on the FTSE 100 as metal
and oil prices gain.
Companies News:
Home REIT Mulls Equity Issue to Fund Acquisition
Opportunities
Home REIT PLC said Tuesday that it is considering an equity
issue to finance acquisition opportunities within its investment
pipeline.
---
Ariana Resources to Pay 0.7 Pence a Share Special Dividend
Ariana Resources PLC said Tuesday that it is launching a 0.7
pence a share special dividend in three tranches starting in the
third quarter of 2021.
---
Sosandar Says FY 2021 Pretax Loss Narrowed, New Year Began
Well
Sosandar PLC said Tuesday that its fiscal 2021 pretax loss
narrowed and revenue rose, and that it has started the new year
strongly.
---
The World's Biggest Miner Picks Profit Over Production
SYDNEY -- BHP Group Ltd.'s chief executive earlier this year
reminded investors that mining companies that bet big on new
production during a commodity-price bull run often end up
regretting it.
---
Apollo in Talks to Join Consortium for Morrisons Offer; Rules
Out Rival Bid -- Update
Apollo Global Management Inc. said Tuesday that it is in talks
with SoftBank Group Corp.'s Fortress Investment Group LLC to join a
consortium bidding for U.K. grocer Wm. Morrison Supermarkets PLC,
and ruled out a rival offer.
---
One Media iP Group 1H Pretax Profit Fell on Higher Costs
One Media iP Group PLC said Tuesday that pretax profit for the
first half of fiscal 2021 fell due to higher costs, and said it is
confident it will continue to capitalize on the growth of the
global music-streaming industry.
---
The Works FY 2021 Loss Narrowed on One-Offs; Chairman to Step
Down -- Update
--The company plans to review the resumption of dividends in
2023
---
Arbuthnot Banking 1H Pretax Profit Rose, Restores Dividend
Arbuthnot Banking Group PLC said Tuesday that pretax profit rose
in the first half of 2021, and restored the interim dividend to
pre-coronavirus levels.
---
Hummingbird Resources 2Q Gold Poured Rose, Backs 2021
Guidance
Hummingbird Resources PLC on Tuesday reported higher gold
production and lower costs per ounce for the second quarter of the
year; and reaffirmed full-year guidance.
---
Midwich Sees 1H Profit Rising; Expects to Beat Full-Year Market
Views
Midwich Group PLC said Tuesday that it expects adjusted pretax
profit and revenue to rise in the first half, and if conditions
persist it predicts it will exceed analyst expectations for the
full year.
---
Sanderson Design Group Shares Rise on Expected 1H Profit
Beat
Shares in Sanderson Design Group PLC rose Tuesday after the
company said that profit for the first half of fiscal 2022 is
expected to beat its board's expectations on the back of strong
sales.
---
ASA International Shares Rise as Collections Broadly Recover
ASA International Group PLC shares rose Tuesday after it said
that collection efficiency in June improved in the Philippines and
Myanmar, though it worsened in the India and Sri Lanka.
---
EasyJet Confident of Summer, Autumn Travel Demand as Bookings
Surge -- Update
EasyJet PLC said Tuesday that it is confident of travel demand
for summer and into autumn due to the surge in bookings experienced
on the selective easing of travel restrictions, and that it expects
capacity in the fourth quarter to be at 60% of 2019's level for the
same period.
---
600 Group Shares Rise on Increased Order Book
Shares of 600 Group PLC rose in early trade Tuesday after the
company said that its order book has increased since the year end
and that trading for the first quarter of fiscal 2022 has been
strong.
---
Boku Says Adjusted Earnings, Revenue Are Running Ahead of
Views
Boku Inc. said Tuesday that adjusted earnings and revenue for
2021 as a whole are forecast to be ahead of expectations, and that
it expects to report an improved performance for the first half of
the year.
Market Talk:
EasyJet's Capacity Forecast Seen as Cautious But
Unsurprising
0733 GMT - EasyJet's 4Q capacity forecast of 60% of 2019's
levels is more cautious than that assumed by analysts at Liberum,
but unsurprising given the slow relaxation of international travel
restrictions. Planned capacity for the budget airline's forward
booking patterns has been affected by the severity and lack of
consistency of the U.K. government's policies, Liberum says. In the
context of a rapid recovery in earnings, the airline's valuation
appears increasingly reasonable but there are downside risks from
higher jet fuel prices and a potential renewal of Covid-19
restrictions this winter, the U.K. brokerage says. "EasyJet's
balance sheet appears to have sufficient liquidity to deal with a
more challenging environment, and there is the prospect of this
being improved with operating cash generation in the summer,"
Liberum says.
---
Sterling Falls as Covid-19 Concerns Weigh
0713 GMT - Sterling falls as investors fret over rising U.K.
coronavirus cases and scale back monetary policy tightening
expectations following remarks from Bank of England policymakers.
GBP/USD falls 0.3% to a five-and-a-half-month low of 1.3627,
according to FactSet, and EUR/GBP rises 0.1% to 0.8640. BOE
official Jonathan Haskel said on Monday monetary stimulus wouldn't
be curbed in the foreseeable future. Catherine Mann, who will soon
join the BOE, said on Monday the central bank shouldn't withdraw
support too early. "Further comments by BOE members and the
development of the pandemic following the lifting of corona
restrictions in England are likely to be the most important driver
for sterling over the coming weeks and might create additional
volatility," Commerzbank's You-Na Park-Heger says.
(renae.dyer@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
paul.larkin@wsj.com
(END) Dow Jones Newswires
July 20, 2021 04:13 ET (08:13 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Mar 2024 to Apr 2024
FTSE 100
Index Chart
From Apr 2023 to Apr 2024
