Home Enterprise holdings FTSE 100 closes Tuesday as investors return to safe havens

FTSE 100 closes Tuesday as investors return to safe havens

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The FTSE 100 closed up 0.18% on Tuesday after an initially weak start. It was a tough day for European markets, with concerns over a global economic slowdown seemingly driving a move into bonds and lower yields, and hitting the resources and energy sector putting pressure on oil prices, said Michael Hewson, chief market analyst at CMC Markets UK in a note. “These concerns are once again reflected in the resilience of the traditional havens of public services and health care, with Centrica [PLC] and SSE [PLC] building on their rebounds yesterday, while airlines also rebounded on the back of [International Consolidated Airlines Group S.A.]“, says Mr. Hewson.

 
Companies News: 

United Utilities is selling its renewable energy business for around £100m

United Utilities Group PLC announced on Tuesday that it has agreed to sell its undesignated renewable energy business to SDCL Energy Efficiency Income Trust PLC for an enterprise value of approximately 100 million pounds ($118.9 million).

Balfour Beatty to sell Indiana University assets for $150 million

Balfour Beatty PLC announced on Tuesday that it is selling its 67%-owned student housing on the Purdue University campus in West Lafayette, Indiana, for a total of $150 million.

Plus500 set to top 2022 market views after strong 1H

Plus500 Ltd. said on Tuesday it expects to post revenue and earnings before interest, tax, depreciation and amortization for 2022 as a whole ahead of market expectations after closing a strong first-half performance.

FY2022 total pre-tax profit increased on higher demand; Increase the dividend

Totally PLC said on Tuesday that performance for the 2022 financial year exceeded board and market expectations, due to increased demand due to the impact of the pandemic on waiting lists.

Grafton backs 2022 view as first-half revenue up 12%

Grafton Group PLC said on Tuesday its expectations for the full year were unchanged, with its first-half performance coming in line with plans.

Wincanton’s first-quarter revenue increased, supporting market views of fiscal year

Wincanton PLC said on Tuesday that revenue for the first quarter of fiscal 2023 grew despite a challenging macroeconomic environment and was on track to deliver full-year results in line with market expectations.

Marshalls posts higher revenue in first half, expects full year to be in line with market views

Marshalls PLC said on Tuesday first-half revenue rose and it expected its full-year performance to be in line with market expectations.

Dewhurst Group appoints John Bailey as CEO

Dewhurst Group PLC announced on Tuesday that it has appointed John Bailey as chief executive, effective October 1.

System1 Group to launch share buyback program for up to £1.5m

System1 Group PLC on Tuesday announced plans to launch a share buyback program of up to 1.5 million pounds ($1.8 million).

Anglo Pacific Group buys royalty portfolio for $185m

Anglo Pacific Group PLC announced on Tuesday that it has agreed to buy a royalty portfolio from South32 Royalty Investments Pty. ltd. for $185 million.

Petropavlovsk will file for administration and stop trading on LSE

Petropavlovsk PLC said on Tuesday its board had requested a temporary suspension of its shares on the London Stock Exchange after filing for administration due to its financial situation.

Foresight Group’s pre-tax profit for fiscal 2022 increased and increases dividend

Foresight Group Holdings Ltd. said on Tuesday that pretax profit for its first full year as a public company increased as revenue rose across all of its divisions, and declared an increased dividend payout.

Bens Creek appoints Murat Erden as CFO

Bens Creek Group PLC announced on Tuesday that it has appointed Murat Erden as Chief Financial Officer, effective July 12.

Kistos makes £1bn bid for Serica to form new North Sea producer

Kistos PLC on Tuesday presented a proposed cash and equity takeover of Serica Energy PLC, which values ​​the British gas producer at 1.04 billion pounds ($1.24 billion) and would give Serica shareholders a stake of 50% in the combined business.

The System1 group announces a drop in revenues in the first quarter; Decline in profit before tax for the financial year 2022

System1 Group PLC said on Tuesday that revenue for the first quarter of fiscal 2023 fell due to inflationary pressures, among other issues, as it reported lower pre-tax profit for fiscal 2022 after booking higher costs. .

Restaurant Group buys Barburrito for £7m

Restaurant Group PLC said on Tuesday it had purchased Mexican-style restaurant chain Barburrito Group Ltd. for £7m ($8.3m) and that he had repaid a further £44m of his term loan in June.

Creightons shares tumble on lower FY2022 pre-tax profit and revenue

Shares of Creightons PLC fell on Tuesday after the company reported lower profits and pre-tax revenue for the financial year 2022 due to inflationary and logistical challenges.

Year-to-date online performance from Sanderson Design; sees meeting profit expectations for the year

Sanderson Design Group PLC said on Tuesday that year-to-date performance was broadly in line with the prior year and earnings remained on track to meet the board’s expectations for the full year.

Knights Group shares rise as they meet guidance for fiscal 2022

Shares of Knights Group Holdings PLC rose on Tuesday after the company hit its guidance for fiscal 2022 and said it had started the current fiscal year well.

Pure Gold completes debt refinancing

Pure Gold Mining Inc. said on Tuesday it has renegotiated its debts with its lending partner and started considering selling the business or its gold mine in Ontario.

Softcat appoints Graham Charlton as CEO

Softcat PLC announced on Tuesday that it has appointed Graham Charlton as chief executive, effective August 1, 2023.

TinyBuild indicates superior 1H performance views; Expects FY to be in line with views

TinyBuild Inc. said Tuesday that first-half 2022 performance was slightly above expectations, driven by the strength of its catalog titles and new game launches.

Increase in Sosandar’s revenues in the 1st quarter; Reduced FY2022 pre-tax loss due to increased revenue

Sosandar PLC said on Tuesday that revenue increased for the first quarter of fiscal 2023 and it reported a reduced pre-tax loss for fiscal 2022 as revenue increased.

Synectics moves to 1H pretax profit and sees further 2H growth

Synectics PLC said on Tuesday it moved to pre-tax profit in the first half of fiscal 2022, and that the progress seen in the period was driven by its core systems division and strong gross margins.

Rambler Metals Says Ming Mine Achieved Record Q2 Production

Rambler Metals & Mining PLC said on Tuesday that its Ming mine in Canada hit record copper production in June and the second quarter.

Central Asia Metals says it is on track to meet 2022 production forecast

Central Asia Metals PLC said on Tuesday it was on track to meet its full-year production targets, with copper production near the top of the range.

Foresight Group to buy infrastructure capital for up to A$140m

Foresight Group Holdings Ltd. on Tuesday announced that it has agreed to acquire Infrastructure Capital Holdings Pty for up to A$140 million ($94.3 million).

AdEpt Technology FY 2022 Widened Pre-Tax Loss, Resumption of Dividend

AdEpt Technology Group PLC said on Tuesday that the pre-tax loss for the 2022 financial year widened due to rising costs and it was reinstating its dividend payout.

 
Market Talk: 

Land tenure security is improving, but a slowdown is looming

0916 GMT – Land Securities has made good progress in implementing its chief executive’s new strategy, but faces headwinds from a deteriorating economy, RBC Capital Markets said. “We expect a weaker macro-economic environment to negatively affect Landsec, given a relatively high level of variable rents in its retail/leisure business and exposure to more climate-sensitive London office markets. ‘economy,” RBC analyst Julian Livingston-Booth said in a note. “We are lowering our rating for Landsec shares from outperform to sector performance.” RBC is also slashing its share price target to 675p from 950p. The stock fell 3.6% to 651p. ([email protected])

UK territory faces tougher economic outlook

0858 GMT – British Land’s outlook deserves investor caution, RBC Capital Markets said, downgrading the property company for underperforming the sector’s performance and its price target at 375p from 475p. “Our more cautious view of London office and UK commercial property markets is negatively impacting our outlook for British Land,” RBC analyst Julian Livingston-Booth said in a note. “Furthermore, we believe a more negative macro scenario appears slightly at odds with management’s view on its markets, increasing the potential negative impact on British Land’s returns.” Shares fall 4% to 444p. ([email protected])

 

Contact: London NewsPlus; [email protected]

 

(END) Dow Jones Newswire

July 12, 2022 12:29 p.m. ET (4:29 p.m. GMT)

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