FTSE 100 Retreats as Energy Stocks, WPP Fall
0755 GMT - The FTSE 100 declines 0.2% to 7434 points, led by
energy stocks and advertising giant WPP after its first-half
results. WPP shares drop 6.7% after it raised its full-year sales
outlook following a strong first-half but the forecast implied a
slower pace of growth in the second half. Hargreaves Lansdown gains
2.9% after the investment platform raised its views for 2023.
London Stock Exchange rises 3.8% after reporting a jump in
first-half pretax profit and launching a share buyback program.
Meanwhile, the key U.S. nonfarm payrolls report is due at 1230 GMT.
"This month's report will take on added significance following the
previous release of US GDP data which confirmed two quarters of
contraction," Interactive Investor analyst Richard Hunter writes.
(renae.dyer@wsj.com)
Companies News:
Light Science Shares Fall on Wider 1H Pretax Loss
Light Science Technologies Holdings PLC shares fell Friday after
it said that its first-half pretax loss for fiscal 2022 widened on
continued investment and marketing.
---
Royal London Mutual Insurance Society Swung to 1H Pretax Loss on
Negative Market Movements
Royal London Mutual Insurance Society Ltd. on Friday reported a
swing to pretax loss for the first half of the year on falls in
equity and bond markets.
---
Trident Royalties 2Q Receipts Jumped on Gold, Copper, and Iron
Ore Exposure
Trident Royalties PLC said Friday that second-quarter royalty
receipts jumped significantly due to gold, copper, and iron ore
exposure.
---
Kromek Group Raises GBP1.7 Mln To Minimize Potential Supply
Chain Disruptions
Kromek Group PLC shares rose on Friday after the company said
that it has completed a 1.7 million pounds ($2.1 million)
fundraising via an issue of convertible loan notes.
---
Deepverge 1H Revenue Rose; Expects to Miss 2022 Market Views
Deepverge PLC said Friday that its first-half revenue nearly
doubled, but it expects full-year revenue to miss market
expectations, and forecasts lower earnings.
---
Inspired Energy Sees 1H in Line With Views as ESG Business Gains
Traction
Inspired Energy PLC said Friday that it expects to report a
performance for the first half of 2022 in line with the board's
expectations, driven by a robust performance and improved cash
generation.
---
Oracle Power Raises GBP500,000 Via Discounted Share Placing
Oracle Power PLC said Friday that it has raised 500,000 pounds
($607,950) via a discounted share placing to continue working in
the company's green-hydrogen project.
---
Carr's Group Appoints Peter Page as CEO; CFO Neil Austin to Step
Down
Carr's Group PLC said Friday that it has appointed Peter Page as
chief executive and that Chief Financial Officer Neil Austin has
decided to step down in January.
---
Carr's Group 22-Week Trading in Line
Carr's Group PLC said Friday that trading in the 22-week period
ended July 30 has been in line with the board's expectations.
---
Impala Platinum Expects Fall in FY 2022 Basic Earnings After
Prior Year Boosted by One-Offs
Impala Platinum Holdings Ltd. said Friday that basic earnings
for fiscal 2022 are expected to decrease between 29% and 35% to
between 30.5 billion South African rand and 33.5 billion South
African rand ($1.84 billion-$2.02 billion) after the prior-year
period benefited from one-offs.
---
Pendragon Says GBP405.1M Takeover Plan Has Been Dropped
Pendragon PLC said Friday that it had received a 405.1 million
pound ($492.6 million) takeover proposal from an unnamed large
international corporate, but that this has now been withdrawn.
---
Pets at Home's 1Q Revenue Rose on Continued Customer Growth
Pets at Home Group PLC said Friday that its performance for the
first quarter of fiscal 2023 was strong, marked by revenue growth
amid a rising number of customers and levels of retention.
---
Hargreaves Lansdown FY 2022 Assets Under Administration Fell
Amid Lower Activity
Hargreaves Lansdown PLC on Friday reported a fall in assets
under administration for fiscal 2022 as investors' confidence
slumped, but raised its views for fiscal 2023.
---
Capita 1H Adj. Pretax Profit Rose on Cost Efficiencies, End of
Major Spend
Capita PLC said Friday that its first-half pretax profit and
revenue both rose on an adjusted basis and slipped on a reported
basis, and that it was on track to accelerate revenue growth in the
second half.
---
London Stock Exchange Group 1H Pretax Profit Rose, Sets Out
GBP750 Mln Buyback
London Stock Exchange Group PLC reported on Friday a significant
rise in pretax profit for the first half of 2022 and said it is
launching a share buyback program with an aggregate value of up to
750 million pounds ($911.9 million).
---
WPP 1H Pretax Profit Rose; Lifts 2022 Organic Growth
Guidance
WPP PLC said Friday that first-half pretax profit rose on broad
growth and that it has raised its organic growth guidance for the
full year.
Market Talk:
Capita's 1H Starts to Show Benefits of Major Restructuring
0736 GMT - Capita's first-half result shows the positive and
persistent effects of the major restructuring at the U.K.
outsourcing company over the past two years, Shore Capital says.
The company discusses its pipeline in more confident terms, based
off a steadily strengthening balance sheet, and profitability is
likely to be more heavily weighted to the second half of the year,
Shore analyst Robin Speakman says in a research note. "Our view
remains that the disposals program needs to be completed to ensure
that the group has the financial strength to bid for contracts and
successfully deliver for clients," the U.K. investment group says.
Shore retains its hold rating on the stock. Shares are down 2.9% at
28.5 pence. (joseph.hoppe@wsj.com)
---
London Stock Exchange Group 1H Earnings Seen as Reassuring
0716 GMT - London Stock Exchange Group's earnings for the first
half of 2022 and unchanged costs outlook for the full year are
reassuring, Citi says. The stock-exchange and financial-information
company's earnings-per-share consensus for 2022 is expected to
increase by low single digits after the first half's small beat,
the bank says in a research note. Consensus for 2023, on the other
hand, could be broadly unchanged, Citi says. "Overall a solid set
of results which should be well received," Citi says. Citi has a
buy recommendation on the stock and a target price of 93.00 pence a
share. (sabela.ojea@wsj.com; @sabelaojeaguix)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
August 05, 2022 04:14 ET (08:14 GMT)
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