FTSE 100 Closes Down as Evergrande Concerns Linger
October 21 2021 - 1:03PM
Dow Jones News
The FTSE 100 closed down on Thursday as renewed concern
surrounding Evergrande and the Chinese economy alarmed investors.
Furthermore, several companies in the U.S. and Europe reiterated
warnings over lingering supply issues and price hikes which could
hit earnings going forward. On the bright side, some companies such
as consumer good major Unilever were able to pass higher prices
onto consumers, with shares enjoying a mild bump today after
reporting positive results, Danni Hewson at AJ Bell said. Reckitt
Benckiser was also one of the FTSE 100's biggest winners today, she
added.
Companies News:
Barclays Profit Rises on Investment Banking--Update
Barclays PLC said its net profit rose in the third quarter,
driven by a continued strong performance at its investment
bank.
---
Unilever 3Q Underlying Sales Rose, Backs Margin Guidance Despite
Cost Inflation
Unilever PLC said Thursday that third-quarter underlying sales
rose on good growth in its priority markets of the U.S., China and
India, development of online shopping channels and growth of
portfolio brands.
---
St. James's Place 3Q Net Inflows, Funds Under Management
Rose
St. James's Place PLC said Thursday that funds under management
and net inflows increased significantly in the third quarter of
2021.
---
Rentokil Initial 3Q Revenue Rose 0.5%, Backs 2021 Guidance
Rentokil Initial PLC on Thursday reported a 0.5% rise in third
quarter revenue at actual exchange rates and backed its full-year
guidance.
---
Anglo American Platinum Reports Flat 3Q Production; Reaffirms
2021 Guidance
Anglo American Platinum Ltd. on Thursday reported broadly flat
production for the third quarter and reiterated full-year
guidance.
---
Babcock International 1H Revenue Seen to Rise; FY Outlook
Unchanged
Babcock International Group PLC said Thursday that performance
for the first half of fiscal 2022 was in line with its expectations
and it backed its guidance for the full year.
---
Gateley (Holdings) Shareholders Sell GBP11.4 Mln Worth of
Shares
Gateley (Holdings) PLC said Thursday that 11.4 million pounds
($15.8 million) worth of shares have been sold on behalf of certain
directors and employees, as first announced late Wednesday.
---
Renishaw 1Q Pretax Profit Rose 39%
Renishaw PLC said Thursday that its profit and revenue increased
in the first quarter of the fiscal year and that it has a record
order book.
---
GB Group Says 1H Sales, Adjusted Operating Profit Grew
GB Group PLC said Thursday that revenue and adjusted operating
profit for the first half of fiscal 2022 increased, and that the
outlook for the second half is in line with the company's
expectations.
---
FirstGroup Sells Greyhound to FlixMobility for $172 Mln
FirstGroup PLC said Thursday it has sold its North American
subsidiary Greyhound Lines, Inc. to FlixMobility GmbH for a total
cash consideration of $172 million, effective immediately.
---
Driver Group Says FY 2021 Underlying Pretax Profit Is in Line
With Views
Driver Group PLC said Thursday that it expects to report an
underlying pretax profit for the fiscal 2021 in line with market
expectations.
---
Provident Financial 3Q Performance Improved, Mulls 2021
Dividend
Provident Financial PLC said Thursday that its third-quarter
performance improved significantly on more favorable macroeconomic
conditions and customer demand for credit, and if it persists it
will consider an ordinary dividend for 2021.
Market Talk:
Rentokil 3Q Matched Hopes; Shares Lag US Rivals
0939 GMT - Shares in Rentokil Initial drop 1.6% as the
pest-control and hygiene group reported third-quarter revenue in
line with market expectations. The shares still trade significantly
below key U.S. peers such as Rollins, brokerage Davy says.
"Considering the much-improved potential for hygiene since the
pandemic, we see the opportunity for this business to re-rate as
management executes the growth strategy. We still see the French
workwear operations as a divestment candidate," Davy analysts say.
(philip.waller@wsj.com)
Barclays 3Q Shows Business Is in Good Shape
0907 GMT - Shares in Barclays drop 0.8% even as the bank
reported higher third-quarter net profit, driven by a continued
strong performance at its investment bank. Profit topped
expectations, helped by big takeover deals and rising income from
equities, trading firm eToro says. "Barclays more than probably any
other U.K. bank has had a long-standing identity crisis over
whether it was fundamentally an investment bank along the lines of
Goldman Sachs, or a retail bank more akin to Lloyds Bank," eToro
analyst Mark Crouch says. "That issue seems to have no real
resolution, but investors will likely be pleased that both ends of
the business appear to be in rude health either way."
(philip.waller@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 21, 2021 12:48 ET (16:48 GMT)
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