FTSE 100 closes pending interest rate cut

The FTSE 100 closed down 0.26% on Tuesday as it awaits interest rate decisions from the US Fed and the UK’s Bank of England. Retailers led the declines, with Ocado Group down 11% and Kingfisher down 4.4%. On the positive side, financial stocks led the rise, with Standard Chartered climbing 3.49% and HSBC Holdings 3.48%.

 
Companies News: 

Entain to acquire BetCity for up to 850 million euros

Entain PLC announced on Tuesday that it has agreed to acquire BetEnt BV from Sports Entertainment Media BV for initial consideration of 300 million euros ($312.2 million) and deferred contingent consideration of up to 550 million euros.

ITV buys 79.5% of Plimsoll Productions for £103.5m to expand international business

ITV PLC announced on Tuesday that it has agreed to acquire a majority stake in Plimsoll Productions for around 103.5 million pounds ($125.6 million) to continue its strategy of expanding its international content business.

Bunzl acquires Hygi, a German online retailer of cleaning and hygiene products

Bunzl PLC announced on Tuesday that it has agreed to acquire Hygi.de, a German online retailer of cleaning and hygiene products, for an undisclosed sum.

Revolution Bars sees FY2022 EBITDA slightly above high end of views

Revolution Bars Group PLC said on Tuesday it expects to deliver adjusted Ebitda after rent changes slightly ahead of the top of market expectations for the 2022 financial year.

Rose of Ashtead’s 2022 pre-tax profit; Increase the dividend

Ashtead Group PLC on Tuesday announced an increase in its pre-tax profit for the financial year 2022 and increased its dividend.

Bellway sees strong demand on 2H; FY2022 Home Completions Rise

Bellway PLC said Tuesday it has seen strong demand for sales in the second half of fiscal 2022 to date, and it expects full-year home completions to pick up.

Eco Atlantic Completes Acquisition of JHI

Eco (Atlantic) Oil & Gas Ltd. announced on Tuesday that it had terminated the acquisition of JHI Associates Inc., which owns a 17.5% stake in the Canje block offshore Guyana.

Altus Strategies agrees to merge with Elemental Royalties of Canada

Altus Strategies PLC announced on Tuesday that it has agreed to merge with Canada-based Elemental Royalties Corp. in a deal that will give shareholders 47.1% of the enlarged group.

Condor Gold raises £3.3m to advance La India project in Nicaragua

Condor Gold PLC announced on Tuesday that it has completed a private placement of shares for 3.3 million pounds (4 million dollars) to finance a feasibility study for its La India gold project in Nicaragua.

Frontier Developments Reports Record Revenues and Lower Adjusted Ebitda for FY2022

Frontier Developments PLC said on Tuesday it expects to report record revenues and lower Adjusted Ebitda for the 2022 financial year after a strong year-end.

SDX Energy Says Production Remains Above Forecast

SDX Energy PLC said on Tuesday that its oil and gas production was above forecasts in the first five months of the year.

Sovereign Metals shares halted on ASX ahead of study of Kasiya project in Malawi

Sovereign Metals Ltd. announced on Tuesday that its shares had been suspended from trading on the Australian Stock Exchange ahead of the announcement of an expanded scoping study on the Kasiya project in Malawi.

Aferian says first-half revenue dipped slightly as device sales fell 8%

Aferian PLC said on Tuesday its first-half revenue would be slightly lower, as lower device sales offset growth in software and services.

ITV buys 79.5% of Plimsoll Productions for £103.5m to expand international business – Update

ITV PLC announced on Tuesday that it has agreed to acquire a majority stake in Plimsoll Productions for around 103.5 million pounds ($125.6 million) to continue its strategy of expanding its international content business.

Crest Nicholson suffered a pre-tax loss of 1H on exceptional charge; Turnover up

Crest Nicholson Holdings PLC said on Tuesday it turned to a pretax loss for the first half of fiscal 2022 on one-time charges, although revenue rose.

Games Workshop Group sees higher profit and pre-tax revenue for fiscal 2022

Games Workshop Group PLC said on Tuesday it expects to post higher profit and pre-tax revenue for the 2022 financial year.

Open Orphan signs £7.2m antiviral product testing contract

Open Orphan PLC announced on Tuesday that it has signed a 7.2 million pound ($8.7 million) contract with a global pharmaceutical company to test its orally administered antiviral product.

Synectics expects revenue growth and first-half operating profit

Synectics PLC said on Tuesday it expects a return to operating profit for the first half of fiscal 2022 on the back of revenue growth and acceleration in its end markets.

FirstGroup’s pre-tax profit for fiscal year 2022 increased; Performance as seen

FirstGroup PLC said on Tuesday that pre-tax profit for the financial year 2022 had increased and its current performance was in line with the board’s expectations.

Paragon Banking Group’s first-half pre-tax profit increased, extends buyout program

Paragon Banking Group PLC said on Tuesday that pre-tax profit rose for the first half of fiscal 2022 and that it increased its dividend payout and extended its share buyback program.

Kelsian Group urges Go-Ahead shareholders to reject Gerard Consortium takeover

Kelsian Group Ltd. on Tuesday urged shareholders of transport company Go-Ahead Group PLC to reject the agreed £647.7 million ($785.9 million) takeover by Gerard Investment Bidco Ltd. announced Monday evening.

 
Market Talk: 

Synectics should benefit from post-pandemic recovery

0927 GMT – Synectics should benefit from the recovery from the Covid-19 pandemic in its largest end-user markets at some point, according to Shore Capital. Although the security and surveillance systems provider’s Asian market remains weak, there are encouraging signs of increased customer activity in North America and the oil and gas sector, says Shore analyst Rob Sanders in a research note. “Notwithstanding current events in Ukraine, we continue to believe that when more normal trading conditions return, there remains potential for significant earnings growth as sales growth resumes,” the UK investment group said. , adding that the restoration of a dividend for 2021 gives him confidence. Shore has Synectics as its home stock. The shares are up 1% at 106.0 pence. ([email protected])

Bellway benefits from a good market environment

0922 GMT – Bellway is still seeing a good demand environment in the UK new housing market, albeit at somewhat slower rates, according to Davy Research. The British homebuilder reiterated its financial guidance, expecting volumes of more than 11,100 units in fiscal 2022 and 12,200 in fiscal 2023, Davy analyst Colin Sheridan said in a research note. “Bearing in mind this reiteration of the guidance, we do not expect to change our forecast, nor change the consensus,” the Irish research firm said. Davy retains an outperformance rating on Bellway stock. The shares are up 2.5% at 2,265 pence. ([email protected])

ITV’s Plimsoll Productions deal ‘looks like a winner’

0920 GMT – ITV gains 1% after the UK broadcaster announced it was buying a majority stake in UK-based Plimsoll Productions for around 103.5 million pounds ($125.6 million) to further expand its international television production activity. The move will strengthen ITV’s position in natural history production, which enjoys widespread appeal around the world, AJ Bell said. “ITV has tried to strengthen its production arm with a view to having shows that appeal beyond its UK domestic audience and this acquisition appears to be a winning one,” writes Bell’s chief investment officer Russ Mold. ([email protected])

Revolution Bars Rise After Bullish Trading Update

0918 GMT – Shares of Revolution Bars jumped 11% after the UK pub operator forecast its adjusted Ebitda for the financial year 2022 to be slightly above market expectations. Following the trading update, brokerage firm Peel Hunt updates its 2022 forecast: Ebitda rises from £17.2m to £18.2m, profit before tax rises to 1 £.9m from a loss of £0.3m and year-end net debt is revised to £1.5m from £5.0m. “This, combined with the renovations and building program (raising the average quality of the estate), means the foundations are in place for faster expansion in a favorable rental market,” said Peel Hunt. ([email protected])

FirstGroup seems well positioned in a bus-friendly environment in the UK

0913 GMT – Although FirstGroup may see a rise in consensus valuations after the National Rail contract award, there could be a downside to near-term consensus on estimates for its UK bus division, Ruairi Cullinane says , an analyst at RBC Capital Markets, in a note. The transport operator pointed out that bus passengers accounted for 76% of pre-pandemic volumes, up from more than 70% in February, and expects volumes to continue to rise after guiding the recovery of passenger volumes to about 80% to 90% of pre-pandemic levels in the first year after social distancing ends. “We believe FirstGroup is well positioned in a more favorable environment for UK buses, with more ‘bus friendly’ policies and stronger trends among the demographic groups most likely to travel by bus,” Cullinane said. ([email protected])

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

06-14-22 1242ET

Stephen V. Lee