The index FTSE 100 closed Thursday up 0.1% to 7479.74, driven by oil and mining stocks, following the main global markets' upbeat mood as the U.S. Fed's Jackson Hole symposium started and investors watch for signals about the U.S. economic policy. Shares in CRH lead the table with a 3.4% rise after the Irish building-materials supplier reported a robust 1H profit and upgraded its full-year earnings guidance. Among the top fallers, Coca-Cola HBC closed down 3.9%, followed by Persimmon with a fall of 3.8%. 


 
Companies News:

Royal Mail Says UK Government to Start Review of Potential VESA Stake Increase

Royal Mail PLC said Thursday that it has received notification from the U.K.'s Secretary of State for Business, Energy and Industrial Strategy that a review will be conducted of VESA's potential stake increase to more than 25%.

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Providence Resources Chairman James Menton to Step Down

Providence Resources PLC said Thursday that Chairman James Menton intends to step down from the role and as a director of the company within the next 90 days for personal reasons.

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Wizz Air Appoints Stephen Johnson as Deputy Chairman

Wizz Air Holdings PLC said Thursday that Stephen Johnson has been appointed to the newly-created role of deputy chairman, effective since July 26.

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Kenmare Resources Appoints Tom Hickey as New Financial Director

Kenmare Resources PLC said Thursday that it has appointed Tom Hickey as financial director with effect from Sept. 26, succeeding Tony McCluskey who intends to retire.

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Greatland Gold Raises $35 Mln via Placing, Beats Fundraising Expectation

Greatland Gold PLC said Thursday that it has raised around $35 million via an oversubscribed discounted placing and that the proceeds will be used to fund the development of its Havieron gold project in Australia, and for other general purposes.

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Airea Names Mederic Payne as CEO

Airea PLC said Thursday that it has appointed Mederic Payne as chief executive officer.

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Rockwood Strategic to Apply to Be Admitted to London's Main Market

Rockwood Strategic PLC said Thursday that it plans to apply to be admitted to the main market of the London Stock Exchange as it believes it will increase its tax efficiency and widen investor appeal.

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Scholium Swung to FY 2022 Pretax Profit as Online and Physical Sales Rose

Scholium Group PLC said Thursday that it swung to a pretax profit in fiscal 2022 as revenue rose following a significant increase in both physical and online sales.

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Iomart Appoints Lucy Dimes as Independent Nonexecutive Chairman

iomart Group PLC said Thursday that it has appointed Lucy Dimes as independent nonexecutive chairman, with effect from the closing of the annual general meeting on Aug. 30.

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Hunting Shares Rise After 1H Pretax Loss Narrowed on Higher Parts Sales

Hunting PLC shares rose Thursday after the company said its pretax loss narrowed for the first half as revenue increased on higher sales of parts, and that it expects to see a further improvement in earnings in the second half, supported by its forward sales book.

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Grafton 1H Pretax Profit Slipped; On Track to Meet Market Views for 2022

Grafton Group PLC said Thursday that first-half pretax profit slipped despite a rise in revenue, as trade normalized following an exceptional pandemic-related spike the year before, and it was on track to meet full-year views.

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Morses Club Swung to Pretax Loss for FY 2022 After Booking Redress Claim Costs

Morses Club PLC said Thursday that it swung to a pretax loss for fiscal 2022 after booking exceptional costs relating to redress claim liability in its HCC business.

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Malvern International Sees 1H Revenue Up 60%; Shares Rise

Malvern International PLC shares rose Thursday after it said it has seen a significant improvement in student numbers and business pipeline over the first half, with revenue rising 60% on year.

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Benchmark Holdings 3Q Pretax Loss Widened on Finance Costs Despite Revenue Rise

Benchmark Holdings PLC said Thursday that its third-quarter pretax loss significantly widened on a major increase in net finance costs, though revenue rose.

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MacFarlane 1H Pretax Profit Grew Despite Higher Inflation-Related Costs

MacFarlane Group PLC on Thursday reported a slight rise in pretax profit for the first half of the year on revenue that grew 14%, partly offsetting higher inflation-related costs.

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Argo Blockchain Swung to 1H Pretax Loss as Value of Digital-Currencies Fell

Argo Blockchain PLC said Thursday that it swung to a pretax loss for the first half due, mostly due to a reduction in the fair value of digital currencies held on the balance sheet.

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Hays FY 2022 Pretax Profit Rose Sharply; Declares Special Dividend

Hays PLC said Thursday that its fiscal 2022 pretax profit more than doubled and turnover increased on an excellent fee performance, and it declared a special dividend.

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Amigo Holdings 1Q Pretax Profit, Revenue Fell as Lending Paused

Amigo Holdings PLC said Thursday that pretax profit and revenue for its first quarter fell due to its pause in lending as it continues to engage with the U.K.'s Financial Conduct Authority to seek regulatory approval. 


 
Market Talk:

AstraZeneca Seen Able to Achieve 2022 Guidance

1439 GMT - AstraZeneca getting approvals in Japan for Tagrisso, Lynparza and Ultomiris shows that its diversified growth is underpinned in part by its global footprint, Shore Capital analysts Susie Jana and Sean Conroy say in a note. Furthermore, despite the near-term Covid-19 hangover, the analysts are confident the pharma giant can post 18% sales and 28% core EPS growth in 2022, both ahead of consensus but within its guidance, they say. Shore Capital rates the stock buy and has a 11,350 pence target price. Shares are up 0.8% at 11,438 pence. (anthony.orunagoriainoff@dowjones.com)

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Biffa Looks Set to Bag Firm Offer From Energy Capital

1242 GMT - Biffa is likely to attract a firm takeover bid of 445 pence from suitor Energy Capital Partners, Berenberg says, cutting its recommendation on the U.K. waste group to hold from buy. In June, Biffa said ECP had suggested a potential 445p cash offer and that if the U.S. private-equity firm confirmed it, Biffa would be minded to recommend it to shareholders. "With a potential ECP bid to come at 445p, versus a break price we consider to be below the current level, we downgrade our rating to hold, while considering a 445p offer (implying c10% upside) remains the most likely outcome from here," Berenberg analysts say in a note, cutting their price target to 415p from 465p. Shares rise 0.2% to 394p. (philip.waller@wsj.com)

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Central Banks Seen in Need to Raise Interest Rates Fairly Aggressively

1241 GMT - Federal Reserve Chairman Jerome Powell's speech at Jackson Hole is expected to be rather on the hawkish side, while in general, central banks will be in a wait and see mode and will look at data, Kaspar Hense, senior portfolio manager at BlueBay Asset Management, says. "Unfortunately, we already know that, especially inflation data, will go up in Europe and the UK, in particular," he says. Data-dependent central banks will be forced to raise interest rates rather aggressively, he says. BlueBay AM expects a stagflationary environment ahead, where first inflation needs to be brought down before there can be discussion about loosening monetary policy, Hense says. (emese.bartha@wsj.com)

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Grafton Looks Attractive, But Autumn Demand Is Key

1135 GMT - Shares in Grafton Group fall 2% after the building-material supplier reported lower first-half profit, but said it was on track to meet full-year expectations. Overall, a 1H trading slowdown broadly matched forecasts, with Irish and Dutch markets trending relatively better, Citigroup says. While exit trends note a slightly softer U.K. trend, the autumn is likely to provide a clearer picture of underlying activity, with vacation disruption influencing recent trends. "Although the current valuation looks attractive having priced in significant downside risks, trading on an EV/EBIT of c.6x for 2023e, we believe the market awaits clearer signs of underlying demand trends into autumn, given fragile consumer-sentiment levels," Citi analyst Ami Galla says in a note, keeping Citi's buy recommendation on the stock. (philip.waller@wsj.com)

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Harbour Energy Might Boost Returns as Cash-Flow Rises

1057 GMT - Harbour Energy stock jumps 11% after the North Sea oil and gas company increased share buybacks and held out the prospect of further returns. Harbour, formed from last year's merger between Chrysaor Holdings and Premier Oil, increased a $200 million buyback launched in June to $300 million. The company also raised its 2022 free cash-flow forecast to $1.8 billion-2.0 billion and said it had significant scope for continued investment, M&A and extra shareholder returns. "Harbour outlines material cash generation from its largely U.K. North Sea asset base benefiting from strong oil and particularly U.K. gas prices," Investec analyst Nathan Piper says in a note. "We see upside to Harbour's revised free cash-flow estimate, given U.K. gas prices continue to be strong," Piper says. (philip.waller@wsj.com)

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Frontier Developments F1 Game Release to Benefit From Brand Awareness Push

0959 GMT - Frontier Developments' F1 2022 Manager game release looks likely to benefit from an increased brand awareness push from owners Liberty Media and the popular Netflix show Formula 1: Drive to Survive, Shore Capital's Katie Cousins says in a research note. Furthermore, the game is expected to be an annual release for the U.K. videogame developer and could contribute around 25%-30% to revenue going forward, while it also presents an opportunity to expand into the sports franchises space, she says. Still, Shore Capital has a hold rating on the stock and says there is probably better upside potential elsewhere in the sector. Shares trade up 0.4% at 1,546.00 pence. (kyle.morris@dowjones.com)

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08-25-22 1204ET