The FTSE 100 started the week with gains, spurred by mining
companies. London's blue-chip index closed 0.3% higher on Monday.
Major miners were among the best performers, with BHP climbing
2.8%, Anglo American and Rio Tinto up 2.0%, and Glencore rising
1.3%. Oil majors Shell and BP were up too, as Brent crude prices
exceeded $85 per barrel. In addition, shares in lender HSBC rose
1.9% after reporting better-than-expected results for the third
quarter.
Companies News:
Lenta 3Q Pretax Profit Rose on Higher Sales
Lenta International PJSC on Monday reported a higher pretax
profit for the third quarter of 2021 as sales increased.
---
Panthera Resources Says Labola Gold Project Estimate
Positive
Panthera Resources PLC said Monday that it has completed the
maiden mineral resource estimate for the Labola Gold Project,
located in Burkina Faso, which showed positive results.
---
Urban Logistics Recent Performance Was Good; Will Join Premium
Listing
Urban Logistics REIT PLC said Monday that its recent performance
has been positive with nearly all rent collected for the first
half, and that it intends to move to the premium segment of the
main market.
---
Ashtead Technology to Float on London's AIM Next Month
Ashtead Technology Ltd. said Monday that it plans to float on
London's junior AIM with trading expected to start in the second
half of November.
---
President Energy's Subsidiary Atome Is Progressing Toward London
IPO
President Energy PLC said Monday that its hydrogen and
ammonia-production subsidiary Atome Energy PLC is taking steps to
float on London's Alternative Investment Market later this year,
raising an undisclosed amount.
---
Anglo Pacific 3Q Portfolio Contribution Hits Record High
Anglo Pacific Group PLC said Monday that its portfolio
contribution for the third quarter of 2021 was the highest in its
history.
---
Atrato Onsite Energy to List on LSE
Atrato Onsite Energy PLC said Monday that it plans to float on
the London Stock Exchange's main market next month, and that it
expects to raise around 150 million pounds ($206.4 million) via a
placing, and offer for subscription, and an intermediaries
offer.
---
Gensource Confirms Plans for London Listing in November
Gensource Potash Corp. confirmed Monday that it will float in
London in early November, as a U.K.-listing with allow it to better
access U.K. and European institutional investors.
---
Ridgecrest Terminates Blue Air Negotiations on Airline's
Inability to Raise Funds
Ridgecrest PLC said Monday that it has terminated the
negotiations on its proposed reverse take over of Romanian airline
Blue Air after the carrier failed to raise funding.
---
Just Eat Shareholder Urges Sale or Spin-Off of Grubhub
Just Eat Takeaway.com NV investor Cat Rock Capital Management LP
said Monday that it has urged the company to sell or spin-off
Grubhub by the end of the year.
---
Vast Resources Shares Fall on Delay to Planned Production
Volumes at Romania Mine
Vast Resources PLC said Monday that the start of its planned
higher production volumes at Romania's Baita Plai Polymetallic mine
have had to be pushed back and it now expects it to become
profitable on a monthly basis by the end of 2021.
---
HSBC Says It Will Buy Back $2 Billion in Stock as Profit Jumps
-- 2nd Update
HSBC Holdings PLC announced a $2 billion stock buyback and a
surge in third-quarter net profit as the lender navigated rising
geopolitical and property-market risks in China.
---
CPPGroup Appoints Simon Pyper as CFO From January
CPPGroup PLC said Monday that it has appointed Simon Pyper as
chief financial officer from Jan. 1, replacing Oliver Laird who
resigned last month to take up a new role.
Market Talk:
Sainsbury Made a Sensible Decision in Keeping Its Bank, Shore
Says
1228 GMT - Sainsbury's decision not to sell its bank business is
seen as sensible as the board rejected offers that didn't reflect
what it perceived to be the real value of the business, Shore
Capital says. Although the bank has appeared somewhat peripheral to
the retailer's core strategy for some time, analysts at Shore say
they applaud management being open to an approach for Sainsbury
Bank set within the context of a strategy where the focus is on
food and the structural modernization of the Argos business.
"Whilst a little nervous on the Argos front, we remain supportive
of the more medium-term strategy and potential cash and dividend
flows for shareholders," Shore says.
---
Whitbread Revenue, Costs Likely to Provide 1H Interest
1221 GMT - Whitbread investors are likely to focus on revenue
and costs in the budget hotelier and pub-restaurant group's
half-year results Tuesday. Revenue per available room in August and
last month is likely to be of interest following the relaxation of
all English lockdown restrictions, Numis Securities says. Annual
consensus estimates for the company imply healthy upwards forecast
momentum and still look excessively cautious, given expansion of
room numbers, the brokerage adds. "We're mindful that the cost
environment has started to deteriorate for all U.K. hospitality
businesses," Numis analyst Tim Barrett says.
---
Gensource Is Stirring Up the Potash Market, Peel Hunt Says
1138 GMT - Gensource is shaking up the potash fertilizer market
with its selective mining modules, a highly innovative means of
monetizing potash resources in a capital-efficient manner, Peel
Hunt says. The Canadian potash company's modular approach allows it
to grow capacity with market demand, investing capital only when it
knows it has secured customers for the output, the brokerage says.
Gensource's offtake agreement with Helm allows it access to retail
potash price levels as well as specific customers, and a planned
London listing will give U.K. investors access to a high-margin,
high-return industry disruptor, Peel Hunt says. The brokerage
initiates coverage with a buy rating and a target price of 60
Canadian cents. Shares in Canada closed at 36 Canadian cents.
---
Allergy Therapeutics Trial Results De-Risk Shares
1133 GMT - Allergy Therapeutics's positive headline results for
its grass pollen allergy treatment point to a statistically
significant, clinically meaningful improvement over placebos--a
major de-risking event for investors, FinnCap says. The
biotechnology company's results will increase the probability of
successfully completing the pivotal Phase 3 study in the U.S. and
Europe, the brokerage says. Just as importantly, the results
underpin the broader MATA MPL platform--which includes tree and
ragweed pollen treatments, FinnCap says. Finally, the positive
results also increase the likelihood of completing the therapy
allergens ordinance registration process in Europe, the brokerage
says, raising its price target to 65.0 pence from 50.0 pence.
Shares are up 7.5% at 36.0 pence.
---
President Energy Subsidiary's IPO Looks Promising for
Investors
1123 GMT - President Energy is on track to list its green
hydrogen and ammonia production company Atome in the fourth
quarter, which is shaping up to be a good deal for investors,
FinnCap says. The energy company will provide its existing
shareholders a dividend in Atome shares ahead of its expected
London float, the brokerage says. "Atome is pursuing two advantaged
green hydrogen/ammonia projects that benefit from access to cheap
and abundant renewable baseload power, providing investors with
free and potentially significant exposure to the powerful hydrogen
growth theme," FinnCap says, retaining its target price of 4.6
pence. Shares are up 6.9% at 1.95 pence.
---
HSBC Outlook Improves, But Low Interest Rates Drag
0959 GMT - Shares in HSBC Holdings rise 1.1% after the bank said
it would buy back up to $2 billion in stock after third-quarter net
profit rose. HSBC is the latest bank to hint at an expected
increase in interest rates, which helps improve the investor mood
because higher interest rates improve the profitability of loans,
Hargreaves Lansdown says. "All in, the picture is looking healthier
for HSBC, but while interest rates remain on the floor, the group
will continue to be held back," HL analyst Sophie Lund-Yates
says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
October 25, 2021 12:10 ET (16:10 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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