FTSE 100 Closes Down 1% Led by Oil, Mining Companies
June 23 2022 - 1:43PM
Dow Jones News
The FTSE 100 closed 1% down, led by a fall in oil and mining
companies as commodity prices suffered on continuing concerns over
a global recession. Miner Antofagasta was the day's biggest faller,
down 5.8%, as continued weakness in base metals amid concerns of
slowing demand drags on the company, CMC Markets analyst Michael
Hewson said in a note. British Land Co and Rolls-Royce were close
behind, down 5.5% and 5% respectively. The day's biggest risers
were Ocado, up 4.3%, Hikma Pharmaceuticals, up 2.9%, and BT Group,
up 2%.
Companies News:
Next Fifteen 1Q Revenue Rose, Ahead of Management Views
Next Fifteen Communications Group PLC said Thursday that revenue
for its first quarter rose, helped by the strength of the U.S.
dollar.
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Boohoo Group Appoints Shaun McCabe as CFO
Boohoo Group PLC said Thursday that it has appointed Shaun
McCabe as chief financial officer, replacing Neil Catto with effect
later this year.
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Naked Wines Swung to FY 2022 Profit on Lower Advertising
Costs
Naked Wines PLC said Thursday that it swung to a fiscal 2022
pretax profit on reduced advertising costs, and that revenue
rose.
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Grainger Agrees to Buy Build-To-Rent Project for GBP128 Mln
Grainger PLC said Thursday that it has agreed to acquire a
build-to-rent investment in Bristol, England, for 128 million
pounds ($157.0 million).
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Polymetal Struggles to Sell Russian Gold and Silver
Polymetal International PLC said Thursday that challenges and
delays in establishing new sales channels are resulting in lower
cash flow.
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Stelrad to Buy DL Radiators for EUR28.3 Mln to Extend Radiators
Range
Stelrad Group PLC said Thursday that it will buy Italian heat
emitter manufacturer DL Radiators SRL for 28.3 million euros ($29.9
million) from De Longhi Industrial SA to extend its range of
radiators.
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Glanbia to Repurchase EUR50 Mln of Shares in Buyback
Glanbia PLC said Thursday that it will start a 50 million-euro
($52.8 million) share buyback program to reduce its share
capital.
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Atlantic Lithium Reports High-Grade Intersections at New Target
Area in Ghana
Atlantic Lithium Ltd. said Thursday that initial assay results
from drilling exploration at the Grasscutter North target of its
Ewoyaa project in Ghana returned high-grade lithium
intersections.
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Various Eateries 1H Pretax Loss Narrowed on Strong Revenue,
Hotel Demand
Various Eateries PLC on Thursday reported a narrowed pretax loss
for the first half of the fiscal year boosted by improved revenue
as a higher demand for weddings drove hotel performance.
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First Property Swung to FY 2022 Pretax Profit on Debt
Reduction
First Property Group PLC said Thursday that it swung to a pretax
profit for fiscal 2022, despite a fall in revenue, and declared a
final dividend.
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888 Holdings Expects 1H Revenue of GBP330 Mln-GBP335 Mln, in
Line With Views
888 Holdings PLC said Thursday that it expects to report revenue
of between 330 million pounds and 335 million pounds ($404.6
million-$410.8 million) for its first half of fiscal 2022, with
growth in certain European markets offset by the impact of
additional safer gambling measures and the temporary exit from the
Netherlands.
Market Talk:
Polymetal Shareholders Are Unlikely to Get Payout in Near
Term
0928 GMT - It seems highly unlikely that Polymetal shareholders
will get a cash payout in the near term, given the mining company's
rising net debt and short-term liquidity challenges, Russ Mould at
AJ Bell says in a note. Polymetal said Thursday that it would
decide in September whether to pay dividends. The company
reiterated 2022 gold-and-silver production guidance but warned that
significant challenges and delays in establishing new sales
channels are resulting in lower operating cash flows. Polymetal is
Russia's second largest gold producer. Shares are broadly flat
after the corporate update. (jaime.llinares@wsj.com)
Frasers Group Seen as Among More Resilient of Sports
Retailers
0916 GMT - Frasers Group is expected to be among the most
resilient sport retailers in the coming months, Liberum analysts
Wayne Brown and Adam Tomlinson say in a research note. The analysts
say that peer JD Sports' earnings on Wednesday ought to give a good
indication of Fraser's expected performance. Frasers should be more
resilient than JD as its value-to-premium goods offering, its
Flannels luxury unit and mergers and acquisitions made in recent
years all combine to position the company positively, the analysts
say. Liberum has a buy rating on the stock with a 900-pence target
price. Frasers shares are up 0.6% at 632.50 pence; JD shares are up
1.5% at 115.55 pence. (pierre.bertrand@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
June 23, 2022 13:28 ET (17:28 GMT)
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