Pound's Rise After New UK Finance Minister Appointed Might Prove Brief

0828 GMT - Sterling's gains after Nadhim Zahawi was appointed U.K. Treasury chief after the resignation of Rishi Sunak might not last, RBC Capital Markets says. In the very short term, the rise of populism would be seen as ushering in looser fiscal policy and tighter monetary policy so is GBP-positive, RBC currency strategist Adam Cole writes. "But longer-term, with the U.K. imbalances coming back to the fore (not least the 8% of GDP current account deficit) it is not at all clear this would be the right reaction." GBP/USD rises 0.3% to 1.1981 and EUR/GBP falls 0.4% to 0.8567. Sunak and U.K. Health Secretary Sajid Javid resigned Tuesday in protest of Prime Minister Boris Johnson's leadership. (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: 

Boris Johnson Seen Facing Rocky Political Future

0812 GMT - Two senior U.K. cabinet ministers, Chancellor Rishi Sunak and Health Secretary Sajid Javid, resigned Tuesday from the government, saying they had lost confidence in Prime Minister Boris Johnson, which leaves him severely weakened politically, UniCredit Research says in a note. UniCredit Research says Johnson likely won't be able to survive for more than a few months in his position. After winning a confidence vote in his leadership of the Conservative party in June, he can't be challenged again for 12 months under current party rules. However, the rules could be changed to allow another confidence vote sooner, UniCredit Research says. (maria.martinez@wsj.com)

 

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

(END) Dow Jones Newswires

July 06, 2022 04:47 ET (08:47 GMT)

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