FTSE 100 Falls as Miners, Banks and Reckitt Drop
The FTSE 100 drops, dragged down by miners and financial stocks
and consumer-goods group Reckitt Benckiser. Glencore, Antofagasta
and Rio Tinto are among the biggest fallers as base and
precious-metal prices fall, while oil stocks are also in the red as
Brent crude trades broadly flat at $73.71 a barrel. Prudential,
NatWest and Standard Chartered lead financial stocks lower. Reckitt
Benckiser is the biggest faller, down 7% after swinging to a
first-half pretax loss.
Companies News:
Mediclinic International Says YTD Operating Performance in Line
With Guidance
Mediclinic International PLC said its year to date operating
performance is in line with views.
---
Unite Group Swung to 1H Pretax Profit, Reinstates Interim
Dividends
Unite Group PLC said Tuesday that it swung to a first-half
pretax profit on the back of valuation gains and improved revenue,
and reinstated interim dividends.
---
Avation Expects FY 2021 Hit From Fleet Revaluation
Avation PLC said Tuesday that it expects to reduce the book
value of its fleet by $32 million, which will likely weigh on
results for fiscal 2021.
---
Palace Capital Chairman to Retire; Portfolio Repositioning
Underway
Palace Capital PLC said Tuesday that Co-Founder and Chairman
Stanley Davis will step down on Oct. 29 and that it plans to
prioritize investment in office and industrial sectors outside of
London.
---
Ascential Raises GBP153 Mln to Fuel Acquisition Pipeline
Ascential PLC said Tuesday that it has raised 153 million pounds
($211.4 million) via a share placing to fund its pipeline of
acquisitions.
---
Ricardo Sees FY 2021 Underlying Profit in Line With Views
Ricardo PLC said Tuesday that it expects to report an underlying
pretax profit for fiscal 2021 in line with market consensus and
that revenue was at a similar level to the prior year.
---
Ceres Power Says on Track to Meet 2021 Revenue Consensus
Ceres Power Holdings PLC said Tuesday it is on track to generate
2021 revenue in line with consensus estimates of 31.5 million
pounds ($43.5 million).
---
Metals Exploration 2Q Gold Revenue Falls on Lower Volumes
Metals Exploration PLC on Tuesday reported that its gold revenue
fell in the second quarter, as sales and production were lower than
in the first quarter.
---
Just Eat Takeaway.com Climbs As Shareholder Says Firm Should
Merge With Rivals -- MarketWatch
Just Eat Takeaway.com was one of the few Stoxx Europe 600
advancers, rising 1.8% in early Amsterdam trade, after shareholder
Cat Rock called on the company to make a merger with other global
players. The shareholder blamed poor investor communications for
lagging investment returns, saying it and DoorDash (DASH) are
expected to make similar amounts of gross merchandise value this
year yet DoorDash is worth four times as much.
---
Kooth Sees 1H Revenue in Line With Full-Year Views
Kooth PLC said Tuesday that revenue for the first half is
expected to be comfortably in line with market expectations for the
full year and that it plans to accelerate investment to drive its
growth strategy.
---
International Personal Finance 1Q Pretax Profit Rose on Lower
Costs
International Personal Finance PLC reported on Tuesday a
significant increase in pretax profit for the first quarter of the
year as a result of lower costs.
---
Chaarat Gold 1H Ebitda Tripled Despite Weaker Volumes
Chaarat Gold Holdings Ltd. said Tuesday that its earnings before
interest, taxes, depreciation and amortization more than tripled in
the first half of the year.
---
Uniphar 1H Organic Gross Profit Grew; Says On Track to Meet
Full-Year Views
Uniphar PLC said Tuesday that organic gross profit grew in the
first half of 2021 thanks to strong performance across its
divisions, and that it is confident in meeting full-year
expectations.
---
SourceBio International 1H Revenue, Earnings Grew
Significantly
SourceBio International PLC said Tuesday that its first-half
revenue almost quadrupled on-year and adjusted earnings grew
considerably, with significant further growth expected in the
second half.
---
Sylvania Platinum Shares Slide After 4Q Profit Fell 64% on
Quarter
Shares in Sylvania Platinum Ltd. dropped Tuesday morning after
it said its profit plummeted 64% in the fourth quarter from the
previous quarter of its fiscal year on the back of lower realized
prices and higher costs.
---
Games Workshop FY 2021 Profit, Revenue Rose
Games Workshop Group PLC reported Tuesday a rise in pretax
profit and revenue for fiscal 2021.
---
Sabre Insurance's 1H Pretax Profit Fell
Sabre Insurance Group PLC reported on Tuesday a decline in
pretax profit for the first half of 2021 and said that gross
written premiums fell in line with expectations under Covid-19
lockdown.
---
Ergomed 1H Revenue Rose
Ergomed PLC said Tuesday that revenue rose in the first half of
the year and that it expects full-year results to be in line with
forecasts.
---
Salt Lake Potash Trading Halted Ahead of Production Guidance
Downgrade, Possible Fundraising
Salt Lake Potash Ltd. said Tuesday that trading of its shares in
Australia and London has been halted pending a substantial
downgrade in production estimates for the year to June 2022, and a
possible future fundraising.
---
Ince Group Profit Slips, Commits to Restarting Dividends
Ince Group PLC said Tuesday that pretax profit for fiscal 2021
fell while revenue rose, and committed to restarting dividend
payments in the new year.
---
In the Style Swung to a FY 2021 Pretax Profit
In the Style Group PLC on Tuesday reported a swing to a pretax
profit for fiscal 2021, and said sales in the first quarter of
fiscal 2022 are 44% above those a year earlier.
---
Southern Energy Corp. to Float in London
Southern Energy Corp. said Tuesday that it intends to seek
admission to London's AIM junior market.
---
St. Modwen Properties Appoints Rachel Kentleton as CFO
St. Modwen Properties PLC said Tuesday that it has appointed
Rachel Kentleton as chief financial officer, effective from Aug.
6.
Market Talk:
Reckitt Benckiser Drops After 1H Loss, Revenue Miss
0753 GMT - Shares in Reckitt Benckiser Group slump 9% after the
consumer-goods group swung to a first-half pretax loss. Reckitt
missed company-compiled consensus for 1H and materially downgraded
full-year guidance, RBC Capital Markets says. "It's not easy to
disentangle, because Reckitt is reporting and giving guidance for
much of its business excluding the recently divested China IFCN
business, but previous guidance and consensus expectations included
it," RBC says. "Each operating division missed sales expectations
for Q2 and while the biggest disappointment was in IFCN, it can't
just be attributed to that. Profits missed too, although in our
view that is less significant than the revenue miss."
---
FirstGroup Seems Overlooked After Solid Performance
0736 GMT - FirstGroup's full-year results contained no
surprises, but the market continues to overlook the long-term
importance of resetting the company's balance sheet and the growth
potential in U.K. public transport, Liberum says. The U.K.
train-and-bus operator's headline figures beat the brokerage's
forecasts, giving a respectable performance after support from
governments and customers, reflecting the essential services the
company provides, Liberum says. "The recovery from the pandemic is
on track, but neither this nor the growth potential from the
National Bus Strategy is reflected in the valuation," the brokerage
says, retaining its buy recommendation with a target price of 105
pence. Shares are down 2.3% at 82.5 pence.
---
Reckitt Benckiser Suffering in Short Term But Consensus is
Positive
0727 GMT - Reckitt Benckiser shares are sinking after its weak
first half but consensus around the stock remains positive,
according to Interactive Investor analyst Richard Hunter. The
consumer-goods company had to recognize significant losses and
mounting costs, the analyst says. "While the stock held up well
during the pandemic given its defensive nature, the specter of the
IFCN business loss and a transformation carrying execution risk has
weighed heavily on the shares more recently. [Shares] had seen a
decline of 19% over the last year, as compared to a gain of 15% for
the wider FTSE100," Hunter says. Still, market consensus remains a
strong buy, reflective of a company still being seen as one
generally trending in the right direction, Hunter says.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
July 27, 2021 05:04 ET (09:04 GMT)
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