The FTSE 100 closed higher on Monday as British Airways owner
IAG, Vodafone and Rio Tinto all finished in positive territory.
"European markets have got off to a mixed start to the week with
DAX and FTSE 100 pushing higher, while a sharp rise in Italian
borrowing costs appears to be weighing on the FTSE MIB which is
down heavily for the third day in a row," says Michael Hewson,
chief market analyst at CMC Markets U.K. Elsewhere, Brent prices
reached another new seven-year high after Saudi Arabia increased
prices for Asia customers. Talk over a possible Russian invasion of
Ukraine also continues to underpin prices, he says.
Companies News:
Lok 'N Store Says 1H Performance Was Strong; Occupancy and
Pricing Improved
Lok 'n Store Group PLC said Monday that its performance in the
first half of fiscal 2022 was strong, boosted by significant
improvements in occupancy and pricing, and that self-storage
revenue was up 34% on the previous year.
---
Bodycote CFO Dominique Yates to Retire Once Successor
Appointed
Bodycote PLC said Monday that Chief Financial Officer Dominique
Yates will retire from the company once a successor has been
appointed and an orderly handover of duties has been completed.
---
Pets at Home to Appoint Lyssa McGowan as CEO
Pets at Home Group PLC said Monday that it has appointed Lyssa
McGowan as chief executive officer with effect starting June 1,
after current CEO Peter Pritchard said he will step down from the
role in summer.
---
Zinc Media Group Expects 2H Adj Ebitda to Beat Management
Views
Zinc Media Group PLC said Monday that adjusted earnings before
interest, taxes, depreciation and amortization for the second half
of 2021 are expected to be above management views, and that it has
started 2022 with new-business wins.
---
Lamprell 2H Earnings Hit by Omicron, Adverse Weather
Lamprell PLC on Monday warned that its performance was hurt by
the Covid-19 Omicron variant and adverse weather conditions in the
second half of 2021, and said that it may raise further equity this
year.
---
Vaalco Energy Reports Successful Well Completion at Oil Field
Offshore Gabon
Vaalco Energy Inc. said Monday that it has successfully
completed the Etame 8H-ST oil well in the Etame field offshore
Gabon.
---
Argo Blockchain January Revenue, Bitcoin Mining Slips
Argo Blockchain PLC said Monday that its revenue and the number
of bitcoins it mined in January fell compared to December.
---
Science Group Appoints Jon Brett as Official Finance
Director
Science Group PLC said Wednesday that Jon Brett, who had been
appointed as the acting finance director of the board on Aug. 10,
2021, has now been named group finance director.
---
Filta Group 2021 Revenue Rose, Boosted by North American
Sales
Filta Group Holdings PLC said Monday that revenue rose in 2021
thanks to a stronger performance in the third and fourth quarters
of the year, marked by a significant sales recovery in North
America.
---
Eleco CFO to Step Down Immediately; Interim CFO Appointed
Eleco PLC said Monday that Chief Financial Officer Robert Tearle
is stepping down with immediate effect, and it has appointed Rose
Clark as interim CFO.
---
Oriole Resources Appoints Eileen Carr as Nonexecutive Chair
Oriole Resources PLC said Monday that it has appointed Eileen
Carr as nonexecutive chair.
---
Great Portland Estates New Lettings Set Record High for
Leasings
Great Portland Estates PLC said Monday that it has agreed upon a
number of new lettings since Oct. 1, achieving record leasing rent
for the fiscal year.
---
Nanosynth Appoints Peter Jeremy McNamara COO, Andrew Stedman
CFO
Nanosynth Group PLC said Monday that it has appointed Peter
Jeremy McNamara as chief operating officer and Andrew Stedman as
chief financial officer with immediate effect, and that both
positions will be non board roles.
---
Tufton Oceanic Assets Sells Two Containerships for $21 Mln
Tufton Oceanic Assets Ltd. said Monday that it has agreed to
sell the containerships Candy and Echidna for $21.0 million in
total.
---
Royal London in Initial Takeover Talks With LV= After Bain
Offer's Rejection
Royal London Mutual Insurance Society Ltd. said Monday that it
has had initial discussions with LV= to explore a potential
acquisition of the U.K. insurance company.
---
LV= Appoints Seamus Creedon Interim Chairman
Liverpool Victoria Financial Services Ltd., known as LV=, said
it has appointed Seamus Creedon interim chairman, taking over from
Alan Cook.
---
Prospex Energy Raises GBP2.4 Mln to Fund Selva Project in Italy,
Shares Fall
Shares in Prospex Energy PLC fell Monday after the company said
it has raised 2.4 million pounds ($3.25 million) via a conditional
share placing and subscription to increase its stake in the Selva
field and funds its development.
---
Taylor Wimpey's Internal CEO Appointment May Raise Eyebrows --
Analysis
Taylor Wimpey PLC's internal appointment of Jennie Daly as its
new incoming chief executive officer could raise eyebrows, given
activist investor Elliott Management's hard lobbying for new blood
at the top.
Market Talk:
January Power-Generation Data Seen Positive for RWE, Negative
for Enel
1047 GMT - Power-generation data for January suggests a positive
implication for RWE and a negative implication for Enel, Jefferies
says. Strong onshore wind performance in the U.S., above-average
solar levels in the U.S. and Spain, and strong German hydroelectric
production seem to favor German utility RWE, Jefferies says.
Conversely, very low hydroelectric output in Italy and negative
onshore wind performance overall don't bode well for Milan-listed
energy group Enel, the bank says. "2022 kicks off with record
January solar levels in Spain, France and U.K., low hydro output in
Italy, Spain and U.K., very high wind speeds across East/Northern
Europe, low wind in West Europe, and strong U.S. wind speeds,"
Jefferies adds.
--
Mining Stocks Are Still Worth Going Long on Despite Short-Term
Volatility, Jefferies Says
1036 GMT - Risk-off sentiment in the markets could pressure
mining shares in the very near term as the cyclicality of mining is
understandably a concern in the face of a tightening cycle,
Jefferies says. However, a modest slowdown in global growth isn't
enough to stop the commodity freight train, and even a sharp
slowdown would only have a transitory impact, the bank says. In
addition, Jefferies says that "the ESG genie is out of the bottle
now," creating unprecedented positive structural implications for
metals demand and supply. This will lead to higher prices in the
future, as supply growth lags demand, it says. Equity valuations
imply, however, that we are at peak now, Jefferies says.
---
Pets at Home Has Significant Cross-Sell Opportunities and Strong
Support to Its Margins
1004 GMT - Pets at Home Group has significant cross-sell
opportunities and strong support to its already robust margins,
Liberum says. The U.K. pet-care company is at peak earnings but its
overall market growth is still expected to accelerate to around
4.5% a year, with more customers acting like "quasi-subscribers"
and engaged members spending around GBP1,000 a year, Liberum says.
It is estimated that the Covid-19 pandemic has driven an up-to-10%
increase in the U.K.'s pet population, the brokerage says. Liberum
currently forecasts fiscal 2022 pretax profit of GBP142 million,
compared with GBP87.5 million for fiscal 2021. Shares are up 0.5%
at 409.6 pence.
---
Taylor Wimpey's New CEO Improves FTSE Representation
0948 GMT - Taylor Wimpey's appointment of Jennie Daly to chief
executive officer is very positive given the longrunning
under-representation of women managing FTSE companies, AJ Bell's
investment director Russ Mould says. The U.K. house builder's
internal promotion secures Daly's near 30 years' of industry
experience, and she should be a safe pair of hands ensuring it runs
smoothly, AJ Bell says. There are eight FTSE 100 companies with a
female CEO--not including Taylor Wimpey--and research indicates
diverse companies outperform less diverse peers, the brokerage
says. "It's therefore encouraging to see the percentage of FTSE
companies with female leadership start to move up, but there is
clearly a lot more to be done," Mould says. Shares are down 0.6% at
148.5 pence.
---
Pets at Home Edges Higher After CEO Appointment
0937 GMT - Shares in Pets at Home edge 0.4% higher after the
U.K. pet-goods retailer appointed Sky executive Lyssa McGowan as
its new chief executive. The appointment of McGowan, who Pets at
Home said is the outgoing chief consumer officer at Sky UK, is
positive as there are common characteristics between the Pets at
Home and Sky businesses, HSBC says. "There are clear links between
the customer life-time value focus of a business like Sky and the
annuity-like behavior that Pets at Home is trying to build in its
customer base," HSBC analysts say. "Also, a strong digital focus
will be key to reaching Pets at Home's ambitions and Ms McGowan
would seem to bring this from her current experience."
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
February 07, 2022 12:33 ET (17:33 GMT)
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