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The FTSE 100 Index closed Thursday down 0.3% at 7599 points, dragged by financial and consumer-goods stocks, on the back of increasing concerns over a further rate hike by the U.S. Federal Reserve, CMC Markets UK chief market analyst Michael Hewson says in a note. “With the prospect of more interest rate rises on the way, yields pushed higher, which in turn acted as a drag on equity markets more broadly,” he says. Endeavour Mining lead the list of top fallers, closing down 1.9%, followed by retailer JD Sports and Beazley, down 1.9% and 1.8%, respectively. Retail-investment platform Hargreaves Lansdown outperformed the index and closed up 3.1%.
COMPANIES NEWS:
M&G’s Assets Under Management and Administration Edged Up in 1Q
M&G on Thursday posted a slight rise in its assets under management and administration over the first quarter of 2023 amid volatile markets.
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Capita Agrees to Sell Noncore Software Businesses for Enterprise Value of GBP33 Mln
Capita PLC said Thursday that it has agreed to sell a set of noncore software businesses to AdvancedAdvT for an enterprise value of 33 million pounds ($41 million).
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Mitie Group’s FY 2023 Pretax Profit Jumped on Contract Wins, Renewals and Extensions
Mitie Group said Thursday that its pretax profit more than doubled in fiscal 2023 on a revenue driven partly by contract wins, renewals and extensions.
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Galliford Try Receives GBP26 Mln in Settlement; Will Pay Special Dividend
Galliford Try Holdings said Thursday that it has agreed settlement terms over a long-standing multi-contract dispute, receiving a cash payment of 26 million pounds ($32.3 million), and declared a special dividend.
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FirstGroup to Launch GBP115 Mln Buyback Program After Swing to FY 2023 Pretax Profit
FirstGroup said Thursday that it swung to a pretax profit for fiscal 2023 as revenue rose due to growth in First Bus and First Rail divisions, and that the board would propose a buyback program of up to 115 million pounds ($143 million).
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Churchill China on Track to Meet 2023 Profit Expectations
Churchill China on Thursday said it is on track to meet profit views for the year as trading is in line with expectations and export markets continue to perform well.
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Crest Nicholson Swung to 1H Pretax Profit Despite Revenue Slip
Crest Nicholson said Thursday that it swung to a pretax profit for the first half of fiscal 2023, reflecting an exceptional charge a year prior and despite an economic uncertainty-driven fall in revenue.
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CMA Says Hitachi-Thales Deal Could Reduce UK Competition
The U.K.’s competition watchdog said on Thursday that Hitachi’s proposed acquisition of Thales’s transportation-systems business could affect costs and quality of service for passengers.
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Wizz Air FY 2023 Pretax Loss Narrowed Amid Record Passenger Numbers
Wizz Air Holdings said Thursday that pretax loss for fiscal 2023 narrowed as revenue surged on passenger numbers reaching a record 51.1 million.
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Glenveagh Properties Experiencing Strong Demand, Reiterates 2023 Guidance
Glenveagh Properties said Thursday that its market continues to benefit from very strong underlying demand and reiterated its 2023 guidance.
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Midwich Completes Share Placing at 425 Pence Each
Midwich Group said Thursday that it has now issued 11.8 million new ordinary shares at 425 pence under the share placing first announced late Wednesday.
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AdvancedAdvT to Buy Five Capita Units in Reverse Takeover; Shares Suspended
AdvancedAdvT said Thursday that its shares have been suspended under takeover rules as it has agreed to a reverse takeover of five non-core software businesses from Capita PLC.
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Hargreaves Services Expects to at Least Meet FY 2023 Market Views
Hargreaves Services said Thursday that it expects to at least meet market expectations for fiscal 2023, after a strong performance from its Services business and a better-than-expected contribution from its German joint venture.
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Gama Aviation’s Pretax Loss Narrowed in 2022
Gama Aviation said Thursday that its pretax loss narrowed in 2022, driven partly by strong results in its business aviation unit.
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Altitude Group Sees FY 2023 Revenue, Adjusted Earnings Rise; FY 2024 Ahead of Year-Prior Period
Altitude Group said Thursday that it expects to report a rise in revenue and adjusted earnings before interest, taxes, depreciation and amortization for the year ended March 31, and that its initial performance for fiscal 2024 continued to be strong and tracking significantly ahead of the year-prior period.
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Camellia Sees 2023 Adjusted Pretax Profit Lower Than in 2022
Camellia on Thursday said it now expects its adjusted pretax profit for 2023 to be lower than the year prior, given falling macadamia sale prices, while revenue is seen ahead.
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Shearwater Group FY 2023 Revenue Fell; Sees Market Conditions Improving in Current Year
Shearwater Group said Thursday it will report a fall in revenue for the year ended March 31 with adjusted Ebitda at around breakeven, and that fiscal 2024 has seen improving market conditions.
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Barryroe Offshore Shares Drop on Withdrawal of Placing, Open Offer
Shares in Barryroe Offshore Energy plummeted on Thursday after the company said it has withdrawn its proposed placing and open offer to raise corporate working capital as a result of the Irish Minister for the Environment, Climate and Communications refusing to grant a lease undertaking.
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Sopheon Making Progress in 2023 To-Date; Full-Year Revenue Visibility Rises
Sopheon said Thursday that it has made continued commercial progress in 2023 to-date, with full-year revenue visibility increasing to $31 million, from $28 million at the same time a year prior.
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RWS Holdings 1H Profit Slipped; Backs Full-Year Views and Discloses Buyback Intentions
RWS Holdings said Thursday that its first-half pretax profit slipped, though it expects its full-year results to at least meet guidance and market forecasts and declared share buyback intentions.
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Sabien Technology Flags Strong Sales of M2G Unit in FY 2023
Sabien Technology Group on Thursday said that the strong sales performance of its M2G business has continued and accelerated toward the end of fiscal year to June 30.
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Boku Extends Share Buyback Program by Up to GBP10.5 Mln
Boku said Thursday that it will extend its share buyback program, repurchasing up to an additional 5.25 million shares for up to 10.5 million pounds ($13.1 million).
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i3 Energy Plans to Cancel Share Premium Account to Open Cash Return Options
i3 Energy said Thursday that it is seeking shareholder approval to cancel its share premium account, giving it the ability to consider paying out dividends or other shareholder returns.
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Pantheon Resources Chairman to Step Down; David Hobbs Named Successor
Pantheon Resources said Thursday that Executive Chairman Phillip Globe intends to retire, and named David Hobbs as successor.
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IGas Appoints Chris Hopkinson as CEO, Philip Jackson as Nonexecutive Chairman
IGas Energy said Thursday that it has appointed Chris Hopkinson as chief executive officer Philip Jackson as nonexecutive chairman, effective immediately.
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R.E.A. Holdings’ 1H to Be Hurt by Lower Prices, Exchange Rates, But Output Up on Year
R.E.A. Holdings said Thursday that fresh-fruit bunch output rose in the January to May period and that its first-half results will reflect the lower selling price of crude palm oil as well as a significant exchange loss stemming from the strengthening of the Indonesian rupiah against the U.S. dollar.
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Bonhill Group Shares Plummet on AIM Trading Cancellation Plan
Shares in Bonhill Group fell on Thursday after the company late Wednesday launched a 4.8 million pound ($6 million) tender offer and said that it was seeking shareholder approval to cancel its listing on London’s junior AIM.
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AOP Health Gets Zero Acceptances to Mandatory Offer for Shield Therapeutics
AOP Health International Management said Thursday that it hasn’t received any acceptances in respect of its mandatory 46.1 million pound ($57.3 million) offer for Shield Therapeutics.
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CAB Payments Holdings Considers London Listing
CAB Payments Holdings on Thursday said it is considering floating on the London’s main market via premium listing.
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Fiinu 2022 Pretax Loss Widened, Sees Full UK Banking License in 2H
Fiinu said Thursday that 2022 pretax loss has widened and that the group is focused on promoting its main product in U.K. and securing regulatory approval.
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Bank of Cyprus Raises Current, Next Year Targets on Higher Rates Expectations
Bank of Cyprus Holdings on Thursday lifted its financial guidance for 2023 and 2024 as it expects interest rates to remain high for longer, before slowing down in 2025.
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Entain Sees TAB NZ Partnership, 365scores Buy Delivering Earnings up to GBP20M in 2024
Entain said Thursday that it expects its strategic partnership with TAB New Zealand and its recent acquisition of 365scores to deliver combined earnings of around 15 million to 20 million pounds ($18.7 million-$24.9 million) in 2024.
MARKET TALK:
FirstGroup’s Strong Balance Sheet Gives Buyback, Acquisitions Scope
(MORE TO FOLLOW) Dow Jones Newswires
June 08, 2023 12:06 ET (16:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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