FTSE 100 drops as traders brace for Fed decision

0

FTSE 100 drops as traders brace for Fed decision

0923 GMT – The FTSE 100 fell 0.7% to 7442 with homebuilders leading the declines as investors brace for the next Federal Reserve meeting which could confirm it will soon start raising interest rates ‘interest. The Fed will announce its policy decision on Wednesday. “The current consensus is for a first [rate] hike in March, followed by two or three more hikes that could take the rate to 1% by the end of the year,” says Interactive Investor analyst Richard Hunter. reduce earnings prospects.” ([email protected])

 
Companies News: 

Activist investor Nelson Peltz buys stake in Unilever

Trian Fund Management LP, the activist hedge fund run by Nelson Peltz, has acquired a stake in Unilever PLC, people familiar with the matter say, adding pressure on the packaged food and consumer goods giant following its bid missed by $68 billion. for GlaxoSmithKline PLC’s consumer healthcare business.

MyHealthChecked 2021 Solid Performance, 1H 2022 Positive Outlook

MyHealthChecked PLC said on Monday that its performance in 2021 was successful amid strong demand for Covid-19 testing, and that it is confident about its outlook for the first half of 2022.

TouchStar sees more than doubling its pre-tax profit for 2021

TouchStar PLC said on Monday it expects to report more than doubled pre-tax profit for 2021, beating market expectations.

Belluscura 2021 Demand for Portable Oxygen Concentrator Surpasses Views

Belluscura PLC said on Monday that demand for its portable oxygen concentrator exceeded its forecast for 2021 and that it had remained debt-free throughout the year.

Spirax-Sarco to buy Cotopaxi for £13.3m

Spirax-Sarco Engineering PLC announced on Monday that it has agreed to buy Cotopaxi Ltd. to the Chinese company Business Intelligence of Oriental Nations Corp. for 13.3 million pounds ($18 million).

Empyrean Energy Files Legal Action Against Cyber ​​Fraudster

Empyrean Energy PLC announced on Monday that it has initiated legal proceedings in Singapore against the company suspected of having committed cyber fraud.

Mirriad Advertising expects revenue to decline in 2021

Mirriad Advertising PLC said on Monday it expects revenue to decline for 2021 and that year-over-year growth in the United States has been strong.

Gulf Marine Services expects 2022 Ebitda to increase in line with market views

Gulf Marine Services PLC forecast on Monday that its profits will increase in 2022 in line with market expectations.

TomCo Energy raises £1.3m to fund drilling at Utah site

TomCo Energy PLC announced on Monday that it has raised 1.3 million pounds ($1.8 million) via a share issue to finance three exploration wells at the Tar Sands II site in Utah.

De La Rue expects FY 2022 operating profit to fall below market expectations

De La Rue PLC said on Monday it expects adjusted operating profit for the 2022 financial year to be lower than market expectations due to the impact of Omicron and Delta Covid-19 variants on manufacturing sites.

AdvT’s latest bid to buy M&C Saatchi rejected

AdvancedAdvT Ltd. said on Monday it had submitted an improved takeover proposal to M&C Saatchi PLC which it said was rejected by the British advertising company.

Computacenter expects higher 2021 pre-tax profit and adjusted revenue

Computacenter PLC said Monday it expects 2021 earnings and adjusted pre-tax revenue to grow, and its strong fourth-quarter performance was encouraging heading into 2022.

Big Technologies sees adjusted earnings for fiscal 2021 above market views

Big Technologies PLC said on Monday it expects full-year performance to beat market expectations, boosted by winning new customers.

Amigo Holdings warns of insolvency if new trading program is not approved

Amigo Holdings PLC said on Monday that if its new trading program does not receive court approval, Amigo Loans Ltd. would enter a liquidation or insolvency program.

Vodafone and Iliad discuss combining Italian units, Reuters reports

— Vodafone Group PLC and Iliad are in talks to combine their units in Italy in a deal that could create a business with revenue of nearly 6 billion euros ($6.81 billion) , reports Reuters, citing sources familiar with the matter.

Spectra wins contract to boost 2022 revenue by at least $700,000

Spectra Systems Corp. said on Monday it was awarded three contracts worth at least $700,000 in unanticipated incremental revenue for 2022.

Corero Network Security expects 2021 to swing to first pre-tax profit

Corero Network Security PLC said on Monday it expects to report an initial pre-tax profit for 2021, and revenue should be broadly in line with market expectations.

LendInvest says AuM has reached £2bn milestone

LendInvest PLC said assets under management hit the two billion pound ($2.71 billion) milestone on January 17.

Microlise Says 2021 Revenues Grow in Line with Views; Warns of supply chain issues

Microlise Group PLC said Monday that 2021 revenue and earnings before interest, tax, depreciation and amortization increased in line with market expectations, but warned of supply chain issues lasting longer than expected.

Block Energy shares rise on strong testing outlook for JKT-01Z well

Shares of Block Energy PLC rose on Monday after the company said testing on the JKT-01Z well in Georgia had begun and delivered strong results, noting that rapid monetization of gas production would be achieved.

GYG relaunches contract at Nobiskrug shipyard in Germany; Stocks rise

Shares of GYG PLC rose on Monday after the company said it had resolved a refit contract with the new owners of the Nobiskrug shipyard in Germany and was in talks to restart two others.

Shanta Gold Forecasts Production Growth in 2022 – Commodity Commentary

Shanta Gold Ltd. predicted on Monday that its gold production will increase this year. Here’s what the East Africa-focused mining company had to say in its year-end update:

Artemis Resources to raise £5m in London IPO

Artemis Resources Ltd. said on Monday it planned to raise 5 million pounds ($6.8 million) and float London-based junior AIM, with trading due to begin Feb. 7.

Gulf Keystone says 2021 oil production was at high end of sights

Gulf Keystone Petroleum Ltd. said on Monday its 2021 oil production was at the upper end of forecasts and expects it to increase this year.

Petropavlovsk appoints Stanislav Ploshchenko as new CFO

Petropavlovsk PLC announced on Monday that it has appointed Stanislav Ploshchenko as chief financial officer, effective immediately.

Stallion 4Q New Sales, Cash Collection Dropped

Etalon Group PLC said on Monday that new sales fell in the fourth quarter of 2021, with cash receipts also falling.

Fulcrum Utility chief steps down, Antony Collins named interim CEO

Fulcrum Utility Services Ltd. said on Monday that CEO Terry Dugdale will step down with immediate effect and that Antony Collins has agreed to join the group as interim CEO “while a permanent successor is sought”.

 
Market Talk: 

Diageo’s portfolio looks healthy and saving money to drive growth

0924 GMT – Diageo’s portfolio is healthy and cost savings will help generate more value, Jefferies said. The momentum from the liquor maker – which owns Johnnie Walker whiskey and Tanqueray gin – is the result of higher marketing investments and improved execution, but also underpinned by ambition to increase the share of total alcoholic beverages in 2020-2030 to 6% from 4%, says Jefferies. “The throat opportunity share provides tailwind in addition to traditional category drivers such as demographics, middle-class growth and ‘premiumization,'” the bank said. Jefferies has a buy rating on the stock and a target price of 4,800 pence. The shares were down 0.8% at 3,724.0 pence. ([email protected])

Novopet doubles Polymetal’s exposure to copper

09:20 GMT – The announcement of an initial mineral resource for the Novopetrovsky project marks a success for Polymetal’s greenfield exploration strategy carried out through joint ventures with junior partners, RBC Capital Markets said. Estimates released Monday suggest Novopet has 2.4 million ounces of gold equivalent resources. Adding the site to the portfolio increases Polymetal’s total gold equivalent resources by 8.3% to approximately 24 million ounces, RBC estimates. Importantly, it more than doubles the company’s exposure to copper, in line with its strategic objectives, banknotes. The mining company’s current valuation is attractive, but RBC warns that the political situation in Russia and Kazakhstan could continue to put pressure on stocks. ([email protected])

Activist stake in Unilever set to intensify debate over asset sales

0916 GMT – The acquisition of a stake in Unilever by an activist hedge fund should have a positive reaction on the share price and intensify the debate on asset disposals within the company, Jefferies said. According to media reports, activist investor Nelson Peltz’s Trian hedge fund has taken an undisclosed stake in Unilever, adding pressure on its CEO after his failed bid to buy Unilever’s consumer healthcare business GlaxoSmithKline. The bank says Trian’s thesis is to unlock value through divestitures in Unilever’s slow-growing food businesses, or through a spin-off between the food business and the Home & Personal Care business, via a sale or spin-off. -off. “Especially as Unilever’s recent further downgrade…has widened the potential gap between a holistic valuation and the sum of the parts,” the bank said. The shares are up 5.2% at 3,865.0 pence. ([email protected])

TIM would only benefit from a small boost thanks to the Vodafone-Iliad merger in Italy

(MORE TO BE FOLLOWED) Dow Jones Newswires

January 24, 2022 04:42 ET (09:42 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Share.

About Author

Comments are closed.