The FTSE 100 on Tuesday closed up, recovering from the major
losses experienced in the previous session amid fears of the
consequences of lifting Covid-19 restrictions. Reopening stocks and
housebuilders led the gains, says Joshua Mahony, senior market
analyst at IG. "Despite fears that the Delta variant could
undermine travel and consumer activity, today's gains for the likes
of Rolls-Royce, Hammerson, and Cineworld highlight how reopening
stocks are likely to be at the forefront of recent volatility,"
NAHL Anticipates Lower Revenue, Higher Profit for 1H
NAHL Group PLC said Tuesday that it expects to report lower
revenue and higher profit for the first half of the year.
Brand Architekts 2H Net Sales Rose But Remain Down for FY
Brand Architekts Group PLC said Tuesday that net sales for the
second half of the year rose 9.5% but still fell overall for the
year as the company suffered from lower footfall in the high street
due to coronavirus-related restrictions and lockdowns.
Dianomi 1H Trading Was Strong, on Course to Meet Full-Year
Dianomi PLC said Tuesday that its performance in the first half
of 2021 has been strong, and that it is trading in line with market
expectations for the full year.
Audioboom 1H Pretax Loss Narrowed as Revenue Nearly Doubled
Audioboom Group PLC that pretax loss for the first half narrowed
on higher revenue as its audiences grew.
Eurocell Expects to Beat 2021 Profit Forecasts After Strong
Eurocell PLC said Tuesday that it expects to beat current market
expectations for full-year pretax profit after a
stronger-than-anticipated first-half performance and an improvement
in its outlook for the second half.
TClarke Swung to 1H Profit, Maintains Interim Dividend
TClarke PLC on Tuesday reported a profit for the first half of
the year and proposed a dividend in line with a year earlier.
Time Out Names Chris Ohlund as Executive Vice Chairman
Time Out Group PLC said Tuesday that it has appointed Chris
Ohlund executive vice chairman, effective immediately.
Rotala Swung to 1H Pretax Profit
Rotala PLC said Tuesday that it swung to a pretax profit for the
first half of fiscal 2021 as revenue rose, and that trading for the
period was underpinned by subsidies from the U.K.'s Department for
Papillon Holdings Raises GBP5.5 Mln Via Share Placing
Papillon Holdings PLC said Tuesday that it has raised around 5.5
million pounds ($7.5 million) via a share issue and will use the
money to build production at the Kilimapesa gold mine and for
BrandShield Systems Secures New Contract
BrandShield Systems PLC said Tuesday that it has secured a
contract in the personal-care industry.
Distil Raises GBP3.2 Mln in Placing, Subscription to Invest in
Distil PLC said Tuesday that it has conditionally raised 3.2
million pounds ($4.4 million) through a placing and subscription so
that it can invest in Ardgowan Distillery Co.
U.S. Investors Seek Bargains in U.K. Home-Building Industry
U.K. home prices are surging as the country's economy reopens
from the pandemic, and U.S. investors are getting in on the action
by snapping up home-building companies at bargain prices.
Shell to Appeal Dutch Court Ruling on Emissions Cuts
Royal Dutch Shell PLC on Tuesday confirmed it would appeal
against a Dutch court ruling calling for the oil major to reduce
its carbon emissions at a faster pace, saying it was being unfairly
Network Rail FY 2021 Pretax Profit Rose
Network Rail said on Tuesday that pretax profit and revenue rose
in fiscal 2021.
Camellia Sees Lower 1H Adjusted Loss, Potential for Weaker Than
Expected 2021 Results
Camellia PLC said Tuesday that it expects to report a lower
adjusted loss for the first half of the year but warned of the
potential for weaker-than-expected full-year results.
Young & Co.'s Brewery Resolution to Reappoint Director
Passes With Low Votes in Favor
Young & Co.'s Brewery PLC said Tuesday that all resolutions
at its annual general meeting passed, though a resolution to
reappoint Torquil Sligo-Young passed with low votes in favor.
Nmcn Warns of Wider 2020 Underlying Pretax Loss
U.K. engineering and construction company Nmcn PLC said Tuesday
that it expects to report an underlying pretax loss for 2020
significantly wider than it previously indicated.
AstraZeneca Seen Revising Outlook Upward to Reflect Closing
1242 GMT - AstraZeneca should revise its outlook upward when it
reports 2Q results on July 29 to reflect the closing of its
acquisition of Alexion, Jefferies says. Alexion is expected to
bring 16% EPS accretion by 2022 and 14% by 2025, according to
Jefferies. AstraZeneca is headed for a compelling growth trajectory
starting 2022 through 2025, it notes. The deal with Alexion has had
some strategic merits for the British pharma company, enabling it
to enter the attractive rare disease segment, Jefferies says.
Furthermore, the deal is going to enable AstraZeneca to fund
greater R&D spending to maximize the value of its own pipeline,
the investment bank says.
Victoria Skips FY Dividend; Likely to do More Deals
1218 GMT - Shares in Victoria fall 2.7% to 1065 pence after the
flooring-product provider said it had decided against paying an
annual dividend. The company reported record revenue and operating
profit in the year to Apr. 3 and an encouraging outlook. "It's our
view that, in a desperate search for yield, in recent years some
investors are failing to see the wood for the trees," Victoria
said. "Investors should be trying to maximize their total
returns--share appreciation plus dividends--rather than focusing
excessively on dividend return alone." Peel Hunt, which has a buy
rating on the group, says it expects Victoria to make further
acquisitions. "We have increased our target price to 1150p to
reflect the potential," Peel analysts say.
BHP Output Tops Hopes, FY Profit Likely to Fall Short
1214 GMT - BHP Group's production topped expectations, but the
miner's full-year profit is likely to fall short of hopes,
Citigroup says. Output was strong and marginally above Citi's
forecasts, with copper, oil and coal 8%, 7% and 11% ahead
respectively. Still, the bank says it's cutting its 2020/21 net
profit-after-tax forecast by about 4% due to second-half costs. "We
maintain 12-month target price at 2200 pence and neutral rating,"
Citi analysts say. Shares rise 1% to 2170p.
AB Foods Shares Seen Undervalued Amid Plans for Primark Online
1201 GMT - AB Foods shares are bound to appreciate as an already
successful Primark goes online, Shore Capital says. The British
conglomerate's clothing arm has outperformed high street peers
since shops reopened in the U.K., underpinning the strength of the
brand, Shore says. Meanwhile, Primark's U.S. market expanded
significantly and is now profitable, it says. Current plans for
digital expansion will enable Primark to compete with its online
peers too, making AB Foods shares rather attractive, the investment
group says. "With digitalization building at Primark, we reiterate
our view that AB Foods equity... is grossly undervalued," it says.
Shore has a buy rating on the stock. Shares are up 2% at 2,005
Fevertree Loses Fizz as Margins Face Cost Pressure
1140 GMT - Shares in Fevertree Drinks drop 7% after the
mixer-maker said rising difficulties caused by transport disruption
and higher costs are putting pressure on margins. Despite such
hurdles, the company's long-term prospects remain bright due to
expansion in the U.S. and continental Europe, AJ Bell says.
"Increasing costs of shipping goods globally are something many
businesses are facing at the moment and it's sobering to see
Fevertree suggest this could be a problem for the medium term at
least," Bell's investment director Russ Mould says. "However, its
rapid growth in the U.S. and Germany suggests there are still
untapped opportunities to exploit."
Biffa's 1Q Performance Prompts FY Upgrades, Says Numis
1135 GMT - Biffa's trading update for the first quarter is very
encouraging, Numis says as it upgrades its fiscal 2022 earnings
before interest, taxes, and amortization forecast by 10% to GBP96.3
million and its pretax profit and earnings per share estimates,
both by 14%. The U.K. waste-management company has benefited from a
strong recovery, Numis notes. The U.K. brokerage increases its
target price to 400 pence a share and keeps its buy rating
unchanged. "Given the positive earnings momentum in the business
alongside the compelling sustainability story we believe a
continued re-rating is merited," Numis says. Shares are up 2.5% at
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(END) Dow Jones Newswires
July 20, 2021 12:02 ET (16:02 GMT)
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