FTSE 100 Rebounds After Sharp Losses in Previous Session

0759 GMT - The FTSE 100 rises 2.4% to 7197 points, recovering from heavy losses in the previous session when global recession fears resulted in weaker commodity prices, dragging mining and energy shares lower. Abrdn is the best performer, rising 6.3%, after the investment company launched a GBP300-million share buyback program. Despite its rebound in early trade, the FTSE 100 is down 3.5% in year-to-date, Interactive Investor analyst Richard Hunter writes. "U.K. markets will be in general focus today, as the latest round of political drama unfolds," he says, referring to Tuesday's resignation of U.K. Health Secretary Sajid Javid and U.K. finance chief Rishi Sunak following a string of scandals under Prime Minister Boris Johnson. (renae.dyer@wsj.com)

 
Companies News: 

Ten Entertainment's 1H Sales Growth Rose on Strong Demand

Ten Entertainment Group PLC said Wednesday that its total, first-half sales growth had increased compared to prepandemic levels, and it expects its full-year performance to beat its current expectations.

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Topps Tiles' 3Q Sales Rose, With Margins and Costs in Line With Views

Topps Tiles PLC said Wednesday that sales for the third quarter of its fiscal 2022 increased on year, and that sales, margins and operating costs remain in line with management views.

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AO World to Raise GBP40 Mln to Boost Balance Sheet, Liquidity

AO World PLC said Wednesday that it is seeking to raise 40 million pounds ($47.8 million) via a share placing and primary bid offer which will strengthen its balance sheet and increase liquidity to historic levels.

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Trainline Updates FY 2023 Views on Fast Passenger Volume Recovery

Trainline PLC said Wednesday that it has updated its guidance for fiscal 2023, as rail passenger volume across Europe recovery was faster than expected.

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Attraqt Group's 1Q Revenue Increased on Strong Bookings

Attraqt Group PLC said Wednesday that revenue increased in the first half of 2022, as it continued to benefit from a strong performance in relation to logo and enterprise bookings.

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Robert Walters's Nonexecutive Chairman Ron Mobed to Step Down on July 15

Robert Walters PLC said Wednesday that Ron Mobed will step down as the company's nonexecutive chairman on July 15.

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Numis 3Q Rev Rose Vs. 2Q; FY Performance Expected to Meet Market Views

Numis Corp. said Wednesday that revenue in the third quarter of fiscal 2022 rose from the second quarter, and this also reflected an improvement compared with the first half.

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ProCook FY22 Pretax Profit Fell on One-Off Costs; Early FY23 Sales Slipped

ProCook Group PLC said Wednesday that its fiscal 2022 reported pretax profit fell, though revenue rose on increased numbers of customers, while sales have dropped going into fiscal 2023.

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Assura Says 1Q Trading Strong on Back of Growing Portfolio

Assura PLC said Wednesday that its performance for the first quarter of fiscal 2023 was strong, as it continues to progress its acquisition and development pipelines.

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Surface Transforms Sees Return to Profitability in 2022 After 1H Revenue Rose

Surface Transforms PLC said Wednesday that revenue increased materially in the first half of the year and it expects a return to profitability for 2022 as a whole.

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Sirius Real Estate Meeting Early FY 2023 Views; Expects Rents to Rise

Sirius Real Estate Ltd. said Wednesday that it was meeting its expectations in early fiscal 2023, despite economic uncertainty and the inflationary environment across Europe, and it expects to further increase average rental rates over the rest of the fiscal year.

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Coats Group to Buy Footwear Solutions Provider for $237 Mln -- Deal Digest

ACQUIRER: Coats Group PLC.

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Robert Walters Expects 2022 Profit to Top Market Views on Record 2Q Fee Income

Robert Walters PLC said Wednesday that it achieved record net fee income for the second quarter, and that it expects full-year profit to exceed market expectations.

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Impact Healthcare Raises GBP22.3 Mln in Share Issue to Buy Care Homes

Impact Healthcare REIT PLC said Wednesday that it has raised total gross proceeds of around 22.3 million pounds ($26.7 million) through a placing and offer, in order to acquire a pipeline of identified care homes.

 
Market Talk: 

AO World Discounted Share Placing Seen as Actual Rescue Fund Raise

0734 GMT - AO World's new discounted share placing continues to be immediately value destructive for the company after the news of its potential financial deterioration and is nothing but a rescue fund raise, Shore Capital's analysts Clive Black and Bradley Hughes say in a note. "How the business expects to robustly and comprehensively improve its operating metrics to us seems difficult to square with today's updates and reasons for fundraising," the U.K. investment group says, noting that the fundraising will be materially earnings dilutive. "We continue to urge investors to rotate into Marks Electrical, highlighting their superior fundamentals and see any derating as collateral damage," Shore adds. Shares are up 3.2% at 48.50 pence. (sabela.ojea@wsj.com; @sabelaojeaguix)

 

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

July 06, 2022 04:17 ET (08:17 GMT)

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