FTSE 100 Rises As Miners, Oil Stocks, Spirax-Sarco Gain

0828 GMT – The FTSE 100 rose 0.3%, or 22 points to 7183, boosted by gains from miners, oil majors and Spirax-Sarco Engineering. Glencore, Anglo American and Fresnillo all advance, while BP and Royal Dutch Shell also climb as Brent crude climbs 0.2% to $ 70.79 per barrel. Spirax-Sarco is the largest blue chip riser, up 2.9% after the steam systems maker said its first-half profit before tax rose 41%, reflecting a strong recovery in the global industrial production. Meanwhile, commercial publisher and event organizer Informa is up 0.7% on further speculation about the buyout. ([email protected])

 
Companies News: 

Spirax-Sarco 1H Profit before tax increased by 41%

Spirax-Sarco Engineering PLC said on Wednesday that first-half profit before tax rose 41%, reflecting a strong recovery in global industrial production and exceptional demand for vaccines at its subsidiary Watson-Marlow.

Phoenix 1H operating profit up

Phoenix Group Holdings PLC on Wednesday reported an increase in its operating profit for the first half of the year and said it achieved a strong cash performance during the period.

Provident Financial’s pre-tax loss in the first half of the year widened on the losses of the Consumer Credit division

Provident Financial PLC on Wednesday announced a significantly widened pre-tax loss for the first half of 2021 due to losses in its consumer credit division.

Admiral 1H Pretax Profit Rose, boosted by Penguin Portals Sale

Admiral Group PLC said on Wednesday that its profits soared in the first half of the year, reflecting an improvement in underlying performance and gains on the sale of the Penguin Portals business.

Deliveroo 1H’s pre-tax loss was reduced as revenues increased; Backs 2021 Forecast

Deliveroo PLC on Wednesday announced a reduced pre-tax loss in the first half of the year and supported its guidance for the full year.

Hostelworld 1h pre-tax loss widens as recent bookings increase

Hostelworld Group PLC said on Wednesday that its first half revenue had declined and the pre-tax loss had widened as expected, but it has seen a modest increase in bookings in recent weeks as travel restrictions relax.

4imprint 1H Profit before tax, turnover up; Reinstates interim dividends

4imprint Group PLC said on Wednesday its profit and pre-tax income for the first half of the year had increased and reinstated interim dividends.

Quilter reported first half profit before tax, assets under management increased

Quilter PLC on Wednesday announced a move to pre-tax profit for the first half of 2021 and said assets under management had increased.

Mail.ru invests $ 60.3 million in AliExpress joint venture in exchange for shares

Mail.ru Group Ltd. said on Wednesday it had provided $ 60.3 million in additional financing in exchange for shares of its AliExpress Russia joint venture with Alibaba Group Holding Ltd.

Advanced oncotherapy to raise £ 37.4million through premium equity placement

Advanced Oncotherapy PLC said Wednesday it aims to raise 37.4 million pounds ($ 51.8 million) through the issuance of 93.5 million new premium subscription common shares to strengthen its balance sheet.

Northbridge Industrial 1H Revenue, Adjusted Rose

Northbridge Industrial Services PLC said on Wednesday that first half revenue and adjusted profit before tax both increased for the year, exceeding management’s expectations.

Tower Resources raises £ 1.5million to repay loan and finance drilling

Tower Resources PLC said on Wednesday it had raised 1.5 million pounds ($ 2.1 million) through a stock offering and will use the money to repay a loan, fund drilling costs and for general capital purposes. .

Pipehawk 2H Revenue increased from 1H

Pipehawk PLC said on Wednesday that revenue increased in the second half of its fiscal year compared to the first half, according to preliminary figures.

Thor Mining Raises GBP 800,000 Through Discounted Stock Placement

Thor Mining PLC said on Wednesday it had raised gross proceeds of 800,000 pounds ($ 1.1 million) through a discounted stock offering, intended for exploration activities at the Ragged Range gold and nickel project. in the Pilbara region of Australia.

CLS Holdings Profit 1H, Turnover in Fall; Defines the emissions target

CLS Holdings PLC said on Wednesday that its profit and pre-tax income in the first half of the year had fallen and that it was targeting net zero emissions by 2030.

Gem Diamonds revenue in 1H 2021 fell compared to 2H 2020

Gem Diamonds Ltd. announced on Wednesday that its revenues fell in the first half of the year compared to the second half of 2020, reflecting lower prices and volumes of diamonds.

Hill & Smith Holdings 1H Profit before tax Rose

Hill & Smith Holdings PLC said on Wednesday its pre-tax profit increased in the first half of the year as activity recovered positively across all divisions after being hit by the effects of Covid-19.

Smiths News appoints Paul Baker CFO

Smiths News PLC announced on Wednesday that it has appointed Paul Baker as its new chief financial officer, effective October 4.

Minds + Machines Shares Rise With $ 80 Million Return Of Capital To Shareholders

The shares of Minds + Machines Group Ltd. rose on Wednesday after it said it approved a return of capital to shareholders through an $ 80 million takeover bid after it sold the majority of its assets.

EQTEC joint venture acquires waste-to-energy plant in Croatia

EQTEC PLC announced on Wednesday that it has acquired a waste-to-energy gasification plant in Croatia through its joint venture with its Croatian partner Sense ESCO doo

BiVictriX Therapeutics shares surge in their stock market debut

Shares of BiVictriX Therapeutics PLC rose 46% at the start of trading on Wednesday as it began trading on London Stock Exchange junior AIM, implying a market cap of £ 19.3million (£ 26.7million). of dollars).

 
Market Talk: 

Spirax-Sarco Engineering recorded strong growth and an impressive EBITDA margin in 1 hour

0724 GMT – Spirax-Sarco Engineering performed well, with strong organic revenue growth and an impressive EBITDA margin, Jefferies said. Sales of £ 644million were in line with consensus, but Ebita of £ 163million is ahead by 7%, according to the US bank. Spirax-Sarco is well positioned for short- and long-term growth and, although sales expectations appear unchanged, the margin commentary indicates improvements in consensus, Jefferies said. “Spirax is a great company, but we remain underperforming for valuation reasons,” Jefferies said. Shares of engineering firm FTSE 100 rose 1.7% to 15,375 pence. ([email protected])

After Deliveroo’s solid 1H, it looks to be in the right direction for the year

0727 GMT – Deliveroo’s good first half performance was underscored by the lack of material losses due to the reopening of the wider UK hotel economy, with rollout ahead of target in UK and the company’s significant expansion of its grocery offerings, Jefferies said. The UK food delivery company reiterates its earlier forecast of growth in gross transaction value of 50-60% for the full year, and a tight margin forecast, although no comment was made made on the medium-term forecast – likely an implied reiteration, the bank says. Jefferies maintains its buy rating and target price of 435.0 pence. Shares are up 0.2% to 363.8 pence. ([email protected])

Provident Financial shares increase on 1H performance

07:35 GMT – Shares of Provident Financial rise after the company said it exceeded the consensus compiled for adjusted first-half profit before tax excluding its consumer credit division. The UK consumer credit firm’s reassuring messages about asset quality – and declining depreciation charges – overshadow a disappointment in marginal costs and higher losses from the consumer credit division, Goodbody said. “Unsurprisingly, no dividends have been declared at the intermediate stage, but it is clear that the dividend policy will be reviewed before the publication of the annual results and we expect a dividend for the final year,” the Irish brokerage said. . Shares are up 2% to 313.20 pence. ([email protected]; @sabelaojeaguix)

CMA’s provisional decision on energy grid yields is a negative result for National Grid, SSE

08:20 GMT – The CMA’s provisional decision on appeals by UK grid companies over allowable returns for 2021-2026 is a negative outcome for National Grid and SSE, according to RBC Capital Markets. The CMA confirmed the view of the energy regulator Ofgem on the allowed future returns on equity and tentatively determined that the authorized cost of equity ratio of the energy regulator 4.55% was not wrong, RBC notes. The Canadian bank had not assumed any increase in yields, but viewed this as a very conservative assumption and therefore expected some disappointment from analysts and investors. National Grid shares are down 1.1% and SSE is up 0.1%. ([email protected])

Pound to rise against euro if UK GDP data beats forecast

08:25 GMT – The pound could extend its recent gains against the euro on potentially stronger than expected UK economic growth data for the second quarter on Thursday, according to ING. “We are a little surprised that the EUR / GBP has not fallen too much after breaking the 0.8470 support zone in the last few days,” say ING analysts. “A bigger downside chance comes tomorrow when the UK releases its second quarter GDP, where we see upside risks to the 4.8% qoq figure [growth estimate]. “EUR / GBP rose 0.1% to 0.8479. ([email protected])

 

Contact: London NewsPlus, Dow Jones Newswires; [email protected]

(END) Dow Jones Newswires

August 11, 2021 04:49 ET (08:49 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.


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