FTSE 100 to Open Higher After U.S. Stocks Rebound
0642 GMT - The FTSE 100 is expected to open higher after U.S.
stocks rebounded from Monday's selloff amid worries about the
economic impact of the rapidly spreading Delta coronavirus variant.
Spreadbetting firm IG sees London's blue-chip index rising 15
points at the start of trading. A weaker sterling, led by concerns
about rising U.K. coronavirus cases, could help lift the FTSE 100
given the large proportion of overseas earners on the index. "How
much further the pound falls is likely to depend on whether the
vaccine wall holds back the worst effects of the rise in Delta
infection rates, in the coming days and weeks," CMC Markets analyst
Michael Hewson says. (renae.dyer@wsj.com)
Companies News:
Antofagasta 2Q Copper Production Fell 2.5%, Reaffirms
Guidance
Antofagasta PLC on Wednesday reported that its copper production
declined in the second quarter and maintained full-year production
guidance.
---
Intertek Group Buys Brazilian Food-Testing Company JLA -- Deal
Digest
ACQUIRER: Intertek Group PLC, a FTSE 100 provider of
quality-assurance services.
---
QinetiQ Reports Rise in Expected Revenue Under Contract
QinetiQ Group PLC said Wednesday that its visibility on revenue
under contract for fiscal 2022 has improved and that the board
remains confident of delivering in line with its expectations.
---
Royal Mail 1Q Group Revenue Rose Despite Slip in Parcel
Volumes
Royal Mail PLC said Wednesday that its fiscal first-quarter
group revenue rose 12.5% despite a slip in parcel volumes.
---
Bridgepoint Prices IPO at 350p a Share; Conditional Trading to
Start Wednesday
Bridgepoint Group PLC on Wednesday set its initial public
offering price at 350 pence a share, implying a market
capitalization of 2.88 billion pounds ($3.93 billion) when
conditional trading starts on the London Stock Exchange at 0600
GMT.
---
Hochschild Mining 2Q Production Rose, Backs Guidance
Hochschild Mining PLC on Wednesday reported that its gold and
silver production increased in the second quarter and reaffirmed
full-year output and cost guidance.
---
PayPoint 1Q Revenue Rose
PayPoint PLC said Wednesday that revenue grew during the first
quarter of fiscal 2022 and that it is well placed to take advantage
of shifts to digital payments and online shopping that have
accelerated through the coronavirus pandemic.
---
Next Raises FY 2021 Profit Guidance, Declares Special
Dividend
Next PLC on Wednesday raised its profit guidance for fiscal 2021
and declared a special dividend to return surplus cash to
shareholders.
---
Foxtons Mulling Sale of Mortgage Broking Business Alexander
Hall
Foxtons Group PLC said Wednesday that it is reviewing strategic
options for its mortgage broking business strategic options for
Alexander Hall Associates Ltd., including a potential sale.
---
Loungers Loss Narrowed Slightly, Sales Trending Above
Pre-Pandemic Levels
Loungers PLC said Wednesday that its pretax loss for fiscal 2021
narrowed after booking lower costs, and that since reopening fully
on May 17 like-for-like sales grew 24% versus the same period in
2019.
---
Nichols 1H Profit Leapt on Higher Revenue, Assessing Inflation
Effects
Nichols PLC reported Wednesday a more than doubled pretax profit
for its first half on higher revenue but said it was facing
inflationary pressures.
---
Euromoney 3Q Revenue Rose; Cautious on Events Outlook
Euromoney Institutional Investor PLC said Wednesday that revenue
for the third quarter of fiscal 2021 rose, driven by underlying
growth in both subscriptions and events, but that it is cautious on
the outlook for its events operations.
---
Petropavlovsk 2Q Gold Output Fell, Backs Full-Year Guidance
Petropavlovsk PLC said Wednesday that its second-quarter gold
production continued well below levels from a year earlier but
reaffirmed full-year guidance.
---
Wickes 1H Sales Were Strong, Confirms Adjusted Profit
Guidance
Wickes Group PLC said Wednesday that it has had strong sales in
the first half, and confirmed it expects around 45 million pounds
($61.3 million) in adjusted pretax profit.
---
Bloomsbury Four-Month Revenue Rose; Sees FY 2022 in Line
Bloomsbury Publishing PLC said Wednesday that it made a strong
start to fiscal 2022, with revenue growth across its consumer and
nonconsumer divisions in the first four months, and that it expects
full-year results in line with views.
---
Speedy Hire Early FY 2022 Met Expectations, Revenue Rose
Slightly
Speedy Hire PLC said Wednesday that market conditions were
favorable in early fiscal 2022 and it is trading in line with its
expectations, with a slight rise in revenue.
Market Talk:
A BHP Oil Sale Would be Pivot From Recent Rhetoric
0219 GMT - BHP's petroleum business, which the miner is
considering offloading according to a Bloomberg report, has an
enterprise value of roughly $11.3 billion, according to Morgan
Stanley estimates. "Although we think that a fossil fuel exit could
enhance the company's investment case and ESG credentials, the
company's management has consistently commented on the
attractiveness of the O&G [oil and gas] business and its
willingness to continue to invest in O&G opportunities to
improve the division's returns," MS says. BHP CEO Mike Henry said
as recently as March that he saw strong value for shareholders from
the business for the next decade, and likely beyond, despite
recognizing some of the longer-term challenges for oil. BHP has
declined to comment on the report. (rhiannon.hoyle@wsj.com;
@RhiannonHoyle)
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
July 21, 2021 03:02 ET (07:02 GMT)
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