The FTSE 100 closed up 0.3% on Wednesday after the Bank of
England said it would buy U.K. government bonds with long
maturities "on whatever scale is necessary" amid the pound's
plummet. "The Bank of England's u-turn (at least for now) on
quantitative easing has given embattled buyers a reason to step
back into the market, IG's chief market analyst Chris Beauchamp
says. The BOE's intervention is being taken as a good sign,
especially when compared with the bank's inaction earlier in the
week, Beauchamp says. The U.K. index's top three fallers were Land
Securities Group PLC, Segro PLC and British Land Co.
Companies News:
Burberry Names Daniel Lee as New Chief Creative Officer Starting
October
Burberry Group PLC said that Chief Creative Officer Riccardo
Tisci will step down at the end of September, to be replaced by
Daniel Lee.
---
Spirax-Sarco to Buy U.S.-Based Durex International
Spirax-Sarco Engineering PLC said Wednesday that it has entered
into a definitive agreement to buy Durex International Corp., a
U.S.-based specialist in custom electric thermal products.
---
Avingtrans FY 2022 Pretax Profit, Revenue Rose on Organic Growth
in Two Segments
Avingtrans PLC said Wednesday that its pretax profit and revenue
rose in fiscal 2022, thanks to organic growth in two divisions, and
that the war in Ukraine and its effect on global inflation pose the
biggest uncertainties.
---
DX 1H Pretax Profit Rose; Announces Capital Allocation
Policy
DX (Group) PLC said Wednesday that pretax profit for the first
half of fiscal 2022 rose after it booked progress at DX Freight and
strong central cost control.
---
Amigo Says It Is Meeting Expectations; Plans to Hold GBP40 Mln
Capital Raising
Amigo Holdings PLC said Wednesday that it is performing in line
with expectations, and that it plans to hold a capital raising of
around 40 million pounds ($42.9 million), including a
business-program-mandated share issue.
---
Boohoo Group Downgrades FY 2023 Views on Lower Sales,
Inflationary Pressures
Boohoo Group PLC reported on Wednesday a swing to pretax loss
for the first half of fiscal 2023 and downgraded its guidance for
the full-year driven by the impact of inflationary pressures and
lower-than-expected sales.
---
Gama Aviation Sees Lower 2H Margins; 1H Pretax Loss Narrowed
Gama Aviation PLC said Wednesday that it expects margins in the
second half to be hurt by inflationary cost pressures and
supply-chain challenges as it reported a narrowed first-half pretax
loss on higher revenue.
---
DP Poland 1H Pretax Loss Widened as Higher Costs Outweighed
Revenue Jump
DP Poland PLC said Wednesday that its pretax loss widened
despite a rise in revenue, due to increased direct costs from
inflationary pressures.
---
Everyman Media 1H Pretax Loss Narrowed After Admissions
Growth
Everyman Media Group PLC said Wednesday that its pretax loss for
the first half of 2022 narrowed following healthy admissions growth
and robust spending per customer.
---
XP Factory 1H Pretax Loss Widened Amid Higher Costs
XP Factory PLC said Wednesday that its pretax loss for the first
half of 2022 widened as costs increased, but that revenue jumped
due to the strong performance of its Escape Hunt and Boom Battle
Bar brands.
---
Diversified Energy Buys Texas, Oklahoma Assets from
ConocoPhillips for $240 Mln
Diversified Energy Co. said Wednesday that it has acquired
certain upstream assets and related facilities in Oklahoma and
Texas from ConocoPhillips Co. for $240 million before
adjustments.
---
Roebuck Food Swung to 1H Pretax Profit, Revenue Rose
Roebuck Food Group PLC said Wednesday that it swung to a
first-half pretax profit on continuing activities and that revenue
rose, and that it was still carrying out a strategic review of its
businesses.
---
CML Microsystems Sees 1H Profit Beating Views, FY 2023 Topping
Market Forecasts
Shares of CML Microsystems PLC rose 13% on Wednesday after the
company said it expects to report profit for the first half of the
fiscal year that is significantly above management's previous
expectations after a strong start to the year, and to beat market
forecasts for the year as a whole.
---
7Digital 1H Pretax Loss Narrowed After Licensing, Contract
Wins
7Digital Group PLC said Wednesday that its pretax loss for the
first half of 2022 narrowed after it secured five new licensing
customers and three contract expansions or extensions.
---
Glantus Shares Plummet After Warning on 2022 Revenue,
Earnings
Shares in Glantus Holdings PLC fell 61% in early trade Wednesday
after it warned full-year revenue and earnings before interest,
taxes, depreciation and amortization are seen to be significantly
below market expectations.
---
Non-Standard Finance Seeks Capital Raise to Pay Debts, Shares
Fall 58%
Non-Standard Finance PLC shares more than halved on Wednesday
after the company reported a widened pretax loss for the first half
of 2022 and said it is pursuing a capital raise to redress
liabilities.
---
EMIS 1H Pretax Profit Slipped on Exceptional Costs; Revenue
Rose
EMIS Group PLC said Wednesday that its first-half pretax profit
slipped despite a rise in revenue, primarily on one-off costs
related to its technology transformation program.
Market Talk:
Royal Mail's Strike Woes Look Likely to Linger
0918 GMT - Royal Mail looks threatened by further industrial
action in the critical run up to the festive season and the
all-important Black Friday/Cyber Monday period and this could cost
it around GBP19 million, Interactive Investor's head of investment
Victoria Scholar says in a note. "The dispute is dragging on and
on, having kicked off early this summer and will have a negative
impact on its next set of financial results in November," she says.
The postal service and courier company is also dealing with rising
costs amid inflation and the long-term structural decline in letter
volumes. Shares trade down 8% at 178.45 pence.
(kyle.morris@dowjones.com)
Boohoo's Long-Term Aspirations Seen Progressing Despite
Headwinds
0914 GMT - Boohoo reported a disappointing first half due to a
weakening in consumer demand, but its key initiatives to support
its long-term aspirations are still progressing, Jefferies analysts
Andrew Wade and Grace Gilberg say in a note. The online fashion
retailer continues to invest in strategic projects--with
Sheffield's logistics automation going live and the U.S. warehouse
construction on track--and a wholesale new sales portal, the
analysts say. "Thinking about the bigger picture, Boohoo remains a
far larger business than it was pre-pandemic and, with over GBP300M
of financing headroom to weather the challenges, management
continues to focus on the longer term opportunity," they say.
(michael.susin@wsj.com)
A.G. Barr's Lowered Forecasts Prompt Downgrades
0847 GMT - Although drinks company A.G. Barr reported a strong
first half for fiscal 2023, cost inflation and weak consumer
sentiment has led to margin guidance for the year of around 14%,
down from 14.9% in fiscal 2022, Liberum analyst Wayne Brown says in
a note. The company hasn't provided any profit guidance for fiscal
2024 but Liberum expects a further margin decline to 12.4% for the
year from 13.9% in fiscal 2023's forecasts. "AG Barr remains one of
the more resilient names in the current climate, defensive both
against a consumer downturn and with brand power to work through
inflationary times," Brown says. Liberum cuts its rating on the
stock to hold from buy, and lowers its target price to 525 pence
from 655 pence. Shares are down 5% at 467 pence.
(anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
September 28, 2022 12:16 ET (16:16 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
British Land (PK) (USOTC:BTLCY)
Historical Stock Chart
From Oct 2024 to Nov 2024
British Land (PK) (USOTC:BTLCY)
Historical Stock Chart
From Nov 2023 to Nov 2024
