FTSE 100 Closed Tuesday Up But Lagging Other Global Markets

FTSE 100 closed Tuesday up 0.08%, following large gains seen by fellow European markets as oil companies and house builders acted as a drag on other, mainly positive sectors. Most global markets saw the boost as the weak US dollar and lower yields pushed equities higher, but among the FTSE 100, BP PLC and Shell PLC dipped respectively 3.2% and 2.5% as Brent crude prices slipped again, CMC Markets UK chief market analyst Michael. Hewson says. Elsewhere in the index, housing stocks took a hit after Persimmon PLC’s latest statement showed that the uncertainty of the UK economy was starting to hit sales figures and push up cancellation rates, says Hewson.

 
Companies News: 

Sales of persimmons fell; Return 2022 Show But See 2023 Sales Slipping

Persimmon PLC said on Tuesday that sales in the first four months of the second half of the year fell against strong comparative and macroeconomic headwinds, and while looking at the outlook for the 2022 meeting, it expects 2023 sales to decline.

ALD LeasePlan Acquisition Gets UK Competition Regulator Clearance

Britain’s competition regulator said on Tuesday it had cleared the acquisition of LeasePlan Corp by Societe Generale SA’s vehicle rental business ALD SA.

Aveva 1H Pretax Losses Widened on Amortization Related to Schneider Deal

Aveva Group PLC said Tuesday that its pretax loss for the first half widened due to the amortization of intangible assets related to its combination with Schneider Electric’s industrial software business and OSIsoft.

WPP CFO John Rogers to Step Down; Britvic’s Joanne Wilson named her successor

WPP PLC said Tuesday that Chief Financial Officer John Rogers has decided to step down from the company, and named soft drinks company Britvic PLC CFO Joanne Wilson as his successor.

AB Foods FY 2022 Pretax Profit Rose on Fixed Price; Launch of GBP500 Mln Share Buyback

Associated British Foods PLC said on Tuesday that pretax profit for fiscal 2022 rose on strong prices amid a normalization of customer behavior, and it raised dividend payments and launched a buyback program.

IMI 3Q Organic Revenue Rose; Updated 2022 EPS Guidance

IMI PLC said Tuesday that third-quarter organic revenue growth was 4% and that it increased its full-year earnings per share.

Irish Government Sells 134 Million AIB Group Shares at EUR2.96

JP Morgan Securities PLC said on Tuesday that it has now sold 134 million ordinary shares in AIB Group PLC on behalf of the Irish Government at 2.96 Euros per share ($2.97), as announced earlier late Monday.

SeaFood Hilton Food Business Advantage 2022 to Eliminate Expectations

Hilton Food Group PLC said that volume and revenue performance were in line with the board’s expectations, despite an expected decline in UK marine business operating profit for the full year amid macroeconomic pressures.

Hammerson 3Q Rental Revenue, Rose Sales; See 2022 Adjusted Earnings Rising

Hammerson PLC said Tuesday that third-quarter rental income and sales increased in the further post-pandemic recovery, and expected full-year adjusted earnings to rise.

Seraphine Sees 1H Loss Amid Tough English Conditions

Seraphine Group PLC said on Tuesday it expected to make a loss in the first half after experiencing a challenging retail environment and softer trading during the summer months.

IMI PLC buys UK Smart Thermostatic Control Manufacturer for up to GBP118 Million

IMI PLC said Tuesday it is buying British smart thermostatic control maker Heatmiser UK Ltd for up to 118 million pounds ($135.9 million), as part of its plan to accelerate growth in smart buildings.

Electric Marks 1H Pretax Flat Profit; Supporting FY Guidance

Marks Electrical Group PLC said on Tuesday that pretax profit for the first half of its fiscal year was flat in a tough trading environment and that it was well positioned to meet its full-year target.

Direct Line Insurance 3Q New Business Sales Down

Direct Line Insurance Group PLC said Tuesday that new business sales in the third quarter fell as it raised prices to restore margins in the motor division.

CVS Group Plans to Double Ebitda, Increase Revenue Over Five Years

CVS Group PLC said Tuesday that it plans to double its Ebitda over the next five years and significantly increase revenue growth.

ZOO Digital Posts Maiden 1H Pretax Profit on Localization Growth, Media-Services Expansion

ZOO Digital Group PLC said on Tuesday that it booked its first pretax profit for the first half of fiscal 2023, and that it backed its full-year guidance.

Chesterfield Resources to Release Some Cyprus Licenses to Focus on Most Candidates

Chesterfield Resources PLC said Tuesday that it will drop some licenses in Cyprus as they expire over the next six months, and that this will allow it to focus on the most prospective licenses.

 
Market Talk: 

AB Foods Profits After Boosting Profits, Investors Return

1117 GMT – Associated British Foods was the top FTSE 100 riser, rising 4% after the owner of Primark and the food maker said it was launching a buyback program and raising dividend payments after reporting higher annual pretax profits. “AB Foods’ FY 2022 print is well ahead of our expectations, with a strong profit rebound driven by more normal trading conditions at Primark,” analysts at brokerage Davy said in a note. “More pertinence, the outlook for FY 2023 remains unchanged, with management guiding for significant growth in sales, even with lower profits year-on-year.”([email protected])

 

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswires

08 November 2022 12:04 ET (17:04 GMT)

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