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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
Coats Group to Buy Footwear Solutions Provider for $237 Mln --
Deal Digest
ACQUIRER: Coats Group PLC.
---
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.
---
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)
Copyright (c) 2022 Dow Jones & Company, Inc.
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