FTSE 100 Rises as Entain, Halma Rally
0848 GMT - The FTSE 100 rises 0.3% to 7793 points as gambling
group Entain gains after a trading update and safety equipment
company Halma rallies on an acquisition announcement. Entain shares
increase 2.4% after it raised its full-year profit forecast. Halma
adds 2.2% after saying it has acquired Thermocable for its safety
sector fire detection company, Apollo. GSK climbs 0.5% after the
drugmaker's fourth-quarter results beat expectations. Vodafone
falls 2.9% after the telecoms group reported a slowdown in
third-quarter service revenue growth. Anglo American drops 1.5%
after estimating that rough diamond sales in the first cycle of
2023 would fall compared to a year ago. Housebuilders decline after
Nationwide data showed U.K. house prices fell more than expected in
January. (renae.dyer@wsj.com)
Companies News:
Vodafone Says It Is on Track to Meet FY 2023 Guidance After 3Q
Total Revenue Fell Slightly
Vodafone Group PLC said Wednesday that third-quarter total
revenue fell slightly on year and that it is on track to meet its
updated fiscal 2023 guidance.
---
Entain Raises 2022 Ebitda Guidance After Higher Net Gaming
Revenue
Entain PLC on Wednesday raised its earnings guidance for 2022 as
it posted an 12% rise in net gaming revenue for the year.
---
Severn Trent Names Helen Miles New CFO to Replace James
Bowling
Severn Trent PLC said Wednesday that it has appointed Helen
Miles as its new chief financial officer after James Bowling
decided to retire in July 2023.
---
Halma Buys Thermocable for Initial GBP22 Mln
Halma PLC said Wednesday that it has bought Thermocable Ltd. for
an initial consideration of 22 million pounds ($27.1 million) on a
cash-free and debt-free basis.
---
GSK 4Q Sales and Earnings Rose, Driven by Specialty Medicines,
Vaccines
GSK PLC on Wednesday posted rising earnings and sales for the
fourth quarter, which the company said were boosted by its
specialty medicines and vaccines businesses.
---
Gaming Realms 2022 Earnings, Revenue Grew; Appoints New CEO,
CFO
Gaming Realms PLC said Wednesday that 2022 earnings and revenue
grew thanks to growth in licensing and that it has appointed a new
chief executive and a chief financial officer
---
Restore 2022 Performance in Line With Views; 2023 Started With
Positive Momentum
Restore PLC said Wednesday that its performance in 2022 was in
line with market expectations and that it entered 2023 with
positive momentum as it continued to see substantial growth
potential across its organic and acquisition strategies.
---
Made Tech 1H Revenue Jumped, Earnings in Line on Organic
Growth
Made Tech Group PLC said Wednesday that revenue for the first
half of fiscal 2023 jumped 76% on strong organic growth and that
adjusted earnings before interest, taxes, depreciation and
amortization was in line with management's expectations.
---
Tialis Essential IT PLC Completion of Acquisition
TIDMTIA
---
Orcadian Energy to Raise GBP500,000 via Discounted Share
Placing
Orcadian Energy PLC said Wednesday that it is planning to raise
500,000 pounds ($615,850) via a discounted share placing and will
use the money toward its work program and for working capital
purposes.
---
GSK 4Q Sales and Earnings Rose, Driven by Specialty Medicines,
Vaccines -- Update
GSK PLC on Wednesday posted rising earnings and sales for the
fourth quarter, which the company said were boosted by its
specialty medicines and vaccines businesses.
---
Keywords Studios Buys 47 Communications LLC to Add Expertise,
Scale in US
Keywords Studios PLC said Wednesday that it has bought 47
Communications LLC to add expertise and scale to its marketing and
PR offering in the U.S.
---
Tandem Group Shares Fall on 2022 Revenue Fall
Shares at Tandem Group PLC fell Wednesday after the company said
that 2022 revenue will be down around 35% on the prior year, but
still in line with market expectations.
---
Virgin Money Flags Good Financial Momentum After Positive 1Q
Virgin Money UK PLC said Wednesday that its first-quarter
performance was positive as it posted a rise in customer deposits
and net interest margin.
---
Pathfinder Minerals Shares Leap on Deal with Acumen Advisory
Shares of Pathfinder Minerals PLC rose as much as 47% on
Wednesday after the company said that Acumen Advisory Group LLC has
exercised its right to buy IM Minerals Ltd. as previously announced
in September.
---
FDM Group Sees 2022 Revenue Rise, Performance in Line With
Board's Views
FDM Group (Holdings) PLC said Wednesday that it expects 2022
revenue to rise and its financial performance for the year to be in
line with the board's expectations.
Market Talk:
Vodafone Facing Twin Threats
0832 GMT - Vodafone is facing the twin perils of an extremely
competitive landscape and some deteriorating economic conditions,
Interactive Investor's head of markets Richard Hunter says in a
market comment. "In an industry where both reliability and
availability are a given, the key differentiator is simply price.
Yet price hikes in several of the company's markets have become
necessary due to inflation and higher energy costs, which is an
unwelcome development due to the competitive pricing which is being
seen elsewhere. In Europe, for example, eight markets are now
working on an inflation-linked pricing model," he says. This has
resulted in customer losses, particularly in Germany, which
accounts for 29% of group revenue, and the debt pile and 5G costs
are also of concern, he says. (kyle.morris@dowjones.com)
---
Entain Shares Boosted by 2022 Guidance Hike
0837 GMT - Entain shares rise 2.6% at 1,527.5 pence after the
gaming company raised its Ebitda guidance for 2022, beating
consensus figures, and cited good momentum for the start of 2023.
"Given ENT's strong Ebitda outperformance in 2H22, we expect a
positive share price reaction and upgrades to consensus FY23e
Ebitda despite the recent share price strength," say Citi analysts
in a note. The brokerage rates the stock buy and has a price target
of 2,000 pence. Shares of the owner of bookmakers Ladbrokes and
Coral are the second best performer of the FTSE 100 index.
(elena.vardon@wsj.com)
---
Glencore's 2022 Production Update Unlikely to Change Outlook
0833 GMT - Although Glencore's better production numbers will
likely drive some small consensus earnings increases into year end
there was little in the release to change outlook as there was a
lack of new guidance for 2023, RBC Capital Markets analyst Tyler
Broda says in a note. "We continue to see Glencore as providing the
best risk/reward on a 6 to 12 month view in the sector, however
near-term pressure on coal prices, driven by falling [Japan Korea
LNG] gas prices, are likely to weigh in the short term," Broda
says. RBC rates the stock outperform and has a 520 pence target
price. Shares are up 0.6% at 544.30 pence.
(anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
February 01, 2023 04:10 ET (09:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Apr 2024 to May 2024
FTSE 100
Index Chart
From May 2023 to May 2024