FTSE 100 Rises After Upwardly Revised 2Q UK GDP Data
The FTSE 100 rises 0.6% as investors react to an unexpected upward revision to second-quarter U.K. gross domestic product data. The Office for National Statistics said GDP increased 5.5% quarter-on-quarter in the April-June period, compared to its preliminary estimate of 4.8% growth. Diageo shares gain 2.5% after the liquor maker said it had a strong start to the fiscal year and expects organic operating margins to benefit from a further recovery in sales volumes. Miners Anglo American, Rio Tinto and BHP Group rise on higher precious metal prices. AstraZeneca rises 1.4%, extending the previous day's rally, after the pharmaceutical company said it would buy the remaining equity in Caelum Biosciences.
Companies News:
Fox Marble 1H Pretax Loss Narrowed on Lower Costs
Fox Marble Holdings PLC on Thursday reported a narrowed pretax loss for the first half of the year as it booked lower costs, and said sales have shown improvement over the summer months.
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Tritax Big Box REIT Places 147.1 Mln Shares at 204 Pence Each
Tritax Big Box REIT PLC said Thursday that it has now issued a total of 147.1 million new ordinary shares at 204 pence each, raising 300 million pounds ($402.8 million) as first announced late Wednesday.
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Esken Delays Restart of Commercial Passenger Operations to Spring 2022 Due to Covid-19
Esken Ltd. said Thursday that its aviation division is still being hurt by the pandemic's effect on travel, and that it will delay the restart of commercial passenger operations to spring 2022.
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B90 Holdings Shares Rise After Fundraising, Acquisition of Norwegian Website
Shares in B90 Holdings PLC rose Thursday after the company raised 1.2 million pounds ($1.6 million) at a premium to its share price, and announced the acquisition of a Norwegian sports-betting affiliate site.
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Zoltav Resources Faces Discounted Debt-for-Equity Swap, Shares Fall
Shares in Zoltav Resources Inc. plunged Thursday morning after the oil-and-gas company said it will have to convert debt into shares at a discounted price.
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IDE Group Shares Rise on 1H Narrowed Pretax Loss
Shares in IDE Group Holdings PLC rose 9.1% in early trade Thursday after the company reported a narrowed pretax loss for the first half of the year on higher revenue.
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Rosslyn Shares Fall After Reporting Lower FY 2021 Recurring Revenue, Backlog
Shares in Rosslyn Data Technologies PLC dropped Thursday morning after the company reported lower recurring revenue and backlog for the year ended April 30.
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Supermarket Income REIT to Raise GBP100M That Will Go Toward Investments
Supermarket Income REIT PLC said Thursday that it plans to raise 100 million pounds ($134.3 million) via a share placing and offer for subscription, and that the money will go toward investments.
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Borders & Southern Petroleum Faces Fundraising by End of January; Shares Fall
Shares in Borders & Southern Petroleum PLC fell Thursday after the company said that it will have to raise money in the coming months.
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7Digital Group Shares Plunge on Profit Warning
Shares in 7Digital Group PLC fell after the company said that it won't meet revenue expectations for the year and that it will post a loss before interest, taxes, depreciation and amortization for 2021.
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Provexis Shares Rise on Narrowed FY 2021 Pretax Loss
Shares in Provexis PLC rose 12% in early trade Thursday after the company reported a narrowed pretax loss for the fiscal year 2021.
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4basebio Widened 1H Loss as It Ramped Up R&D Spend
Life-science company 4basebio said Thursday that its first-half loss widened as it boosted its investment in research and development of its DNA technology.
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Rothermere Gets Deadline Extension to Bid for Daily Mail & General Trust
Daily Mail & General Trust PLC said Thursday that the U.K. Takeover Panel has extended the deadline for Rothermere Continuation Ltd. to either make an offer for the company or walk away until Oct. 28.
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Avacta 1H Pretax Loss Widened, Revenue Rose
Avacta Group PLC said Thursday that its pretax loss for the first half of the year widened, while revenue increased.
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Ecotricity's Improved Bid for Good Energy Gets 3.0% Acceptance
Ecotricity Group Ltd. said Thursday that its increased cash offer for Good Energy Group PLC has been accepted by 3.0% of the energy supplier's shareholders.
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Lekoil AIM Trading to Be Halted Friday Pending Publication of 2020 Accounts
Lekoil Ltd. said that the trading of its shares on the AIM will be suspended from Friday morning, pending publication of its 2020 accounts.
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Petroneft Resources Books 1H Loss; Shares Fall
Shares in Petroneft Resources PLC fell Thursday after the company reported a loss for the first half of the year.
Market Talk:
UK Current Account Deficit Leaves Pound Vulnerable to Sentiment Shifts
0727 GMT - The U.K.'s current deficit leaves the pound vulnerable to any shifts in global risk appetite, Pantheon Macroeconomics says. "Sterling's depreciation over the last week, despite the rise in expectations for U.K. interest rates, highlights how the persistent current account deficit leaves the pound sensitive to changes in global investor sentiment," Pantheon economist Samuel Tombs says. The deficit narrowed to GBP8.6 billion in the second quarter from GBP8.9 billion in the first quarter, versus the GBP15.4 billion expected by economists in a WSJ survey. However, the deficit will widen gradually as imports of travel services rocket when Britons resume overseas holidays and as the U.K.'s reliance on natural gas imports increases this winter, Tombs says.
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UK Gilts Are Among the Most Vulnerable Rates Markets
0709 GMT - U.K. sovereign bonds remain on of the more vulnerable rates markets, says Mizuho. Gilts have dropped significantly in value as investors readjust their portfolios to the prospect of the Bank of England raising interest rates as soon as later this year, and they failed to rally Wednesday, analysts at the bank say. A similar pattern is observed in index-linked government bonds, also known as linkers. "U.K. linkers, which have generally been strong through the summer, suffered a marked cheapening, suggesting that even the most well-bid U.K. rates products are becoming more cognisant of the material upside risks to U.K. policy rates," they say. The 10-year gilt yield trades last at 0.989%, according to Tradeweb.
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Pound Rises After Upward Revision to 2Q UK GDP Data
0706 GMT - The pound rises after the U.K.'s second-quarter economic growth estimate was unexpectedly revised higher. The Office for National Statistics said U.K. gross domestic product increased 5.5% quarter-on-quarter in the April-June period, compared to its preliminary estimate of 4.8% growth. "The upward revision to GDP in Q2 brings the U.K. economy's performance in line with other G7 economies," Pantheon Macroeconomics economist Samuel Tombs says. However, monthly GDP data show the overall recovery essentially stalled in July, he says. GBP/USD rises to 1.3458 after the data, from 1.3435 beforehand. EUR/GBP falls to 0.8624, from 0.8630.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
09-30-21 0435ET
