The FTSE 100 made a slow start to the week, with some major
healthcare players pulling the index down despite good progress
among miners, according to CMC Markets analyst Michael Hewson.
"Mining stocks in particular have been looking strong after Anglo
American reported a bumper first-half earnings report, posting
record earnings," the analyst says. On the downside, AstraZeneca
shares fell despite winning EU approval for its Ultomiris drug for
children and adolescents, Hewson says.
Companies News:
Block Energy Shareholder Requests Second Meeting to Commission
Investigation
Block Energy PLC said Monday that shareholder Forest Nominees
Ltd. has requested a second general meeting to consider
commissioning an independent investigation into company
affairs.
---
CentralNic Expects Adjusted Ebitda Jumped 32% in 1H
CentralNic Group PLC said Monday that it expects to report a 56%
increase in revenue and a 32% rise in adjusted earnings before
interest, taxes, depreciation and amortization for the first half
of the year.
---
Duke Royalty Hits Quarterly Cash Revenue Performance in 1Q
Duke Royalty Ltd. said Monday that its cash revenue for the
first quarter of fiscal 2022 was above management views, adding
that it expects to post a record cash performance in the second
quarter.
---
Kingswood Chairman and CFO to Both Leave
Kingswood Holdings Ltd. said Monday that Chairman Kenneth "Buzz"
West is retiring from the role immediately and that Chief Financial
Officer Patrick Goulding will be leaving the business.
---
ECO Animal Health Profit Rose; CEO Marc Loomes to Step Down
ECO Animal Health Group PLC said Monday that fiscal 2021 pretax
profit rose and that Chief Executive Marc Loomes will retire on
Dec. 31.
---
Metal Tiger to Raise A$5 Mln
Metal Tiger PLC said Monday that it is raising 5 million
Australian dollars (US$3.7 million) to make further
investments.
---
Prospex Energy Appoints Mark Routh as CEO
Prospex Energy PLC said Monday that it has appointed Mark Routh
as chief executive officer and that Edward Dawson, its current
managing director, will stand down with immediate effect from the
company's board.
---
Plant Health Care 1H Revenue Rose, Gross Margin Slipped
Plant Health Care PLC said Monday that its first-half revenue
rose, as did its operating expenses, and that its gross margin
slipped because of currency effects.
---
NewRiver REIT Agrees to Sale of Hawthorn Pub Business for
GBP222.3 Mln
NewRiver REIT PLC said Monday that it has entered into an
agreement for the sale of the entire issued capital of its pub
business, Hawthorn Leisure REIT Ltd., for around 222.3 million
pounds ($305.6 million).
---
Schroder European Real Estate Collects Majority of 3Q Rent
Schroder European Real Estate Investment Trust PLC said Monday
that it has collected most of the rent due for the third quarter,
and that the value of its portfolio has risen slightly.
---
Mobile Streams Appoints New Chairman, Finance Director
Mobile Streams PLC said Monday that it has appointed Robert
Moore as nonexecutive chairman and Rama Uthayanan as finance
director with immediate effect.
---
Science Group's 1H Pretax Profit More than Doubled
Science Group PLC said Monday that its results for the first
half of the year were ahead of the board's upgraded
expectations.
---
Heathrow Airport 1H Pretax Loss Narrows, Warns of 2021 Passenger
Numbers Below 2020
London's Heathrow airport said Monday that its first half pretax
loss narrowed and that due to the U.K. government's travel
restrictions stemming from the pandemic, the airport could see less
passengers in 2021 than it did in 2020.
---
Mobile Streams Launches LiveScores Service in Mexico
Mobile Streams PLC said Monday that the launch of its LiveScores
football 365 service into Mexico is expected to add revenue of
around $140,000 in the first year.
---
RTC Group Shares Fall After Afghanistan Business Warning, 1H
Results
Shares in RTC Group PLC dropped Monday after the company said it
expects a period of lag in replacing revenue from its Afghanistan
business, and reported a profit for the first half.
---
FirstGroup's Largest Shareholder Calls for CEO to Resign
Coast Capital said Monday that it is calling for the resignation
of FirstGroup PLC's chief executive officer and two independent
nonexecutive directors, after opposing the sale of the company's
U.S. operations.
Market Talk:
Higher Costs to Drag Petra Diamonds' Profitability
0944 GMT - Petra Diamonds last week guided for
higher-than-expected costs in the year to June 2022 and this is
likely to also affect the second half of fiscal 2021, Peel Hunt
says. As a result, and despite strong realized pricing, the
brokerage cuts its fiscal 2021 Ebitda estimate by 6% to $121
million and by 3% to $172 million for the current financial year.
For fiscal 2023, Peel Hunt reduces the Ebitda estimate by 13% to
$213 million reflecting lower Finsch production and higher costs.
"The price and volume recovery will, we expect, drive substantial
increases in profitability for Petra," it says. The diamond-mining
company is a corporate client of Peel Hunt.
---
Reckitt Benckiser Expected to Report Lower Profit and Sales for
1H
0942 GMT - Reckitt Benckiser is expected to report a decline in
sales and reduced profit for the first half of the year when it
releases its earnings on Tuesday. The consumer-goods company--which
houses Dettol, Harpic and Durex among its brands--is seen posting a
1H pretax profit of GBP1.23 billion, according to an analyst's
forecast, taken from FactSet. This compares with GBP1.56 billion
for the same period a year earlier. Sales are forecast to come in
at GBP6.72 billion, according to a consensus estimate of three
analysts' projections, also taken from FactSet. This compares with
GBP6.91 billion for the prior-year period. Shares are down 0.5% at
6,234 pence.
---
Unilever's Share-Price Potential Is Limited
0927 GMT - Unilever's shares have limited scope to rise further,
Landesbank Baden-Wuerttemberg says, cutting its recommendation on
the Anglo-Dutch consumer goods group to hold. While Unilever's
half-year results topped consensus expectations modestly, higher
raw-material costs and further investment in brand development are
likely to weigh on the company's margin in the second half, LBBW
says. Management is now only assuming an adjusted operating margin
at the previous year's 18.5% rather than the slight increase
expected in April. "On the basis of our updated discounted
cash-flow model, we calculate a fair value per share of 4,300
pence. After lowering the outlook for the operating result and the
associated price decline, we believe the price potential is
limited," LBBW analysts say. Shares fall 1% to 4,099 pence.
---
NewRiver's Sale Price for Hawthorn Pubs Backed to Highlight
Value
0848 GMT - NewRiver REIT's disposal of its Hawthorn community
pub business for GBP222.3 million is an attractive exit price at
the top end of the valuation range, Shore Capital says. The
real-estate trust's business is high-quality and the disposal of it
for an excellent price is a good outcome, demonstrating its value
creation and consistent with its strategy to focus on core retail
activities, Shore says. "Consistent with the strategy set out in
recent times, we reiterate our buy stance on NewRiver stock, noting
the wide discount to [net asset value] and the much improved
balance sheet metrics on disposal," the investment group says.
Shares are up 1.8% at 88.5 pence.
---
Deliveroo Looks Well-Placed for Grocery-Delivery Push
0809 GMT - Deliveroo has a smaller absolute gross merchandise
value than its food-delivery peers, but its first-mover status in
U.K. grocery gives it an advantage and this should now be completed
by a push into dark stores, Jefferies says. The London-based,
food-delivery company--which is backed by Amazon--has put in place
initiatives to accelerate takeaway orders and has a first-mover
advantage in grocery, Jefferies says. Deliveroo's subscription plan
is a tool for unifying both categories, the bank says. "These are
conditions for the profitable migration of [gross merchandise
value] from offline to online, irrespective of what its competitors
are doing. Investors shouldn't fear the fact Deliveroo is
'smaller,'" Jefferies says.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
July 26, 2021 12:27 ET (16:27 GMT)
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