FTSE 100 Falls as Oil, Mining Stocks Drop

0814 GMT - The FTSE 100 Index drops 0.2%, or 17 points to 7259 as oil and mining stocks drag down London's blue-chip index. BP and Shell are among the biggest top-flight fallers as the price of a barrel of Brent crude retreats 1.4% to $97.04 a barrel. Meanwhile, Antofagasta, Glencore and Anglo American drop as gold, silver and base-metal prices fall following downbeat trading in Asia. Vodafone Group trades largely unchanged after the mobile-phone operator reported first-quarter trading in line with expectations and said it was on track to hit full-year targets. (philip.waller@wsj.com) 


 
Companies News:

Novolipetsk 2Q Steel Sales Fell 12% as Sanctions Hit Demand

Novolipetsk Steel said Monday that its sales volumes fell 12% in the second quarter, as sanctions against Russia hit both domestic and export demand.

---

Card Factory CFO to Depart Company

Card Factory PLC on Monday said that Chief Financial Officer Kris Lee and the company have agreed that he will leave the U.K. retailer following a transition period as it is the "right time for change."

---

Savannah Resources Involved in Claim Over Land Property in Portugal, Shares Fall

Shares in Savannah Resources PLC fell Monday morning after it confirmed that it has been included in a civil claim related to its acquisition of certain land properties at its Barroso lithium project in Portugal.

---

Hill & Smith Holdings Plans to Sell France Galva for EUR72.6 Mln

Hill & Smith Holdings PLC said Monday that it is planning to sell its subsidiary France Galva SA to a consortium for a net equity price of 72.6 million euros ($74.2 million).

---

Naked Wines CFO Steps Down

Naked Wines PLC said Monday that Chief Financial Officer Shawn Tabak has stepped down from his role, effective July 22.

---

Gym Group Chairwoman Penny Hughes Retires; John Treharne Named Chairman

Gym Group PLC said Monday that Chairwoman Penny Hughes will retire from the board effective today, and named John Treharne as its new chairman.

---

Xeros Technology Names Neil Austin as Incoming CEO

Xeros Technology Group PLC said Monday that it will appoint Neil Austin as chief executive officer, effective from Aug. 1.

---

Venture Life Group Expects 1H Revenue Rise; Confident of Meeting 2022 Market Views

Venture Life Group PLC said Monday that it expects to report a rise in revenue for the first half, and that the board is confident the company's full-year financial performance will be in line with market expectations.

---

AltynGold $40 Mln Loan Application Approved for Plant Capacity Expansion

AltynGold PLC said Monday that its application for a $40 million line-of-credit from Bank CenterCredit JSC has been approved, and will be used to expand the capacity of its processing plant.

---

Union Jack Oil Achieves $8 Mln Revenue from Wressle Field

Union Jack Oil PLC said Monday that landmark net revenues of $8 million have been made from the Wressle hydrocarbon development, onshore Lincolnshire, England.

---

Oxford Cannabinoid Pretax Loss Widened in 11 Months to April on Higher Research Costs

Oxford Cannabinoid Technologies Holdings PLC said Monday that pretax loss widened in the 11 months ended April 30, and that it is progressing with all four of its current drug-development programs.

---

Parity Group Sees 1H Net Fee Income Growth, Adjusted Ebitda Profit

Parity Group PLC said Monday that it expects to report first-half net fee income growth and an adjusted earnings before interest, taxes, depreciation and amortization profit after refocusing the business and cutting costs during the prior year.

---

Judges Scientific 1H Sales, Orders Rose

Judges Scientific PLC said Monday that the company's first half performance for 2022 was resilient as it continued its recovery from the Covid-19 pandemic, and that it is confident of meeting market views for the year despite supply-chain disruptions.

---

Kaspi.kz 1H Net Income Rose on Higher Income; Raises Guidance

Kaspi.kz JSC said Monday that net income for the first half rose as revenue increased, and raised its guidance for the year.

---

Serica Rejects Kistos' Increased Merger Offer

Kistos PLC said Monday that it has increased its merger offer for Serica Energy PLC, but the U.K. gas producer rejected it. 


 
Market Talk:

Ryanair Seen Leading Peers During Recovery

0821 GMT - Ryanair plans to operate during summer 2022 at a capacity 15% higher than 2019's levels as it leads peers in the postpademic recovery, Third Bridge analyst Allegra Dawes says in a note. Although the golden age of cheap air travel is over thanks to decade-high oil prices and inflation, the budget airline's fuel hedging policy means they are well positioned to maintain price competitiveness and are under less pressure than others to increase fares over the next 12 months, Dawes says. Furthermore, revenue for summer 2022 could be 20% higher than in 2019, the analyst says. "Growth in passengers up to 225 million by 2026 will be driven by continued strength in Italy, Spain and expansion opportunities in Germany and Eastern Europe," Dawes says. (anthony.orunagoriainoff@dowjones.com)

---

Vodafone Shares Could Be Safe Haven in Storm

0815 GMT - Shares in Vodafone Group edge 0.1% higher after the mobile-phone company reported first-quarter trading in line with expectations and said it was on track to hit full-year targets. "Results were mixed for the telecoms giant with a disappointing performance in Germany offset by strength in Britain and Turkey, lifted by its spiralling inflation," Interactive Investor analyst Victoria Scholar writes. Still, amid an uncertain backdrop and concerns about a global recession, Vodafone and other telecom companies could present themselves as stable sector stocks to weather the storm, Scholar says. (philip.waller@wsj.com)

---

Judges Scientific's Long-Term Prospects Remain Excellent, Shore Says

0814 GMT - Judges Scientific's performance update shows that its long-term prospects remain excellent despite supply chain pressures, Shore Capital analyst Robin Speakman says in a research note. The maker of scientific instruments has strong cash generation and a robust balance sheet, but also benefits from a strict capital discipline, acquisition opportunities and by continuing to return to organic growth trends, Speakman says. Supply chain issues are expected to improve in 2023, the U.K. investment group analyst says. (michael.susin@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires


(END) Dow Jones Newswires

07-25-22 0450ET