FTSE 100 Rises as Investors Turn to Defensive Stocks
0841 GMT - The FTSE 100 rises 0.2% to 7899 points as defensive stocks including utilities rally. The "fallback option" of defensive stocks has served the FTSE 100 well during the challenges of the past year as investors "hunker down in the face of potential recessionary and particularly inflationary pressures," Interactive Investor analyst Richard Hunter writes. "The market's initial move higher was achieved despite another small raid on the housebuilding sector where rising interest rates, concerns over mortgage availability and affordability and recently cautious comments from some of the leading names have added to the mix." (renae.dyer@wsj.com)
Companies News:
Lok 'n Store Group 1H Revenue Grew on Higher Occupancy, Pricing
Lok 'n Store Group PLC on Monday said its first-half revenue grew on buoyant business during the period as it expects its net asset value to be stable at the end of the year.
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Brickability Sees FY 2023 Adjusted Earnings Beating Market Views
Brickability Group PLC said Monday that it expects to report fiscal 2023 adjusted earnings ahead of market views and remains confident in its outlook.
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Mkango Resources to Raise GBP3.5 Mln for Projects
Mkango Resources Ltd. said it conditionally raised 3.5 million pounds ($4.2 million) via a discounted placing and a subscription, and that it will use this develop various projects and as working capital.
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MJ Hudson Auditor Resigns Citing Lost Trust, Confidence
MJ Hudson Group PLC said Monday that its auditor Ernst & Young LLP has resigned, citing lost trust and confidence.
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DX (Group) Receives Claim Over Obtaining of Confidential Information
DX (Group) PLC said Monday that it received a claim on Friday from Tuffnells Parcels Express relating to confidential competitor information being obtained by DX in the past.
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Bidstack 2022 Revenue More Than Doubled; Provided Security Over Azerion Claim
Bidstack Group PLC said Monday that it expects to report 2022 more-than-doubled revenue with an improved gross margin, and it has been provided security in the initial part of its claim for damages from Azerion Technology BV.
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FRP Advisory Sees FY 2023 Results in Line With Views, Declares 3Q Dividend
FRP Advisory Group PLC on Monday said it expects its fiscal 2023 revenue and core earnings to be broadly in line with market expectations as it declared a third-quarter dividend.
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Goldplat Names Gerard Kemp Chairman as Gerard Kisbey-Green Steps Down
Goldplat PLC said Monday that Gerard Kemp has been appointed nonexecutive chairman with immediate effect, and that Gerard Kisbey-Green will stand down as but remain as an independent nonexecutive director.
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Unikmind Holdings Launches $1.51 Bln Offer for Kape Technologies
Unikmind Holdings Ltd. on Monday tabled a 1.25 billion pound ($1.51 billion) offer for Kape Technologies PLC and said regardless of the outcome to its proposal it would call a meeting of the digital-security company seeking its delisting from London's junior AIM.
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Net Zero Infrastructure Requests Its Share Listing to Be Restored
Net Zero Infrastructure PLC said Monday that it has requested its listing be restored to the standard segment of the London Stock Exchange, after the publication of its fiscal 2022 and fiscal 2023 first-half results.
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Mark Allen to Buy Bonhill's UK, Asia Businesses
Mark Allen Group said Monday that it has agreed to buy the U.K. and Asia brands of wealth-management publishing company Bonhill Group PLC for 6.5 million pounds ($7.8 million).
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Aptamer Names Rob Quinn as Incoming CFO
Aptamer Group PLC said Monday that it has appointed Rob Quinn as chief financial officer, effective from March 1, taking over from interim CFO Jenny Cutler.
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BH Macro Raises GBP315 Mln for Investment in Fund
BH Macro Ltd. said Monday that it has raised around 315 million pounds ($379.9 million) through an initial placing of shares, intermediaries offer and offer for subscription, to be invested in Brevan Howard Master Fund Ltd.
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Dolphin Capital Chairman Martin Adams Resigns, Replaced by Sean Hurst
Dolphin Capital Investors Ltd. said Monday that Chairman Martin Adams resigned from the board with immediate effect, and that Sean Hurst has been appointed director and elected new Chairman by the board with immediate effect.
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Non-Standard Finance Shares Fall After FCA Redress Talks Continue
Shares in Non-Standard Finance PLC drop 12% on Monday after the group said talks with the U.K. Financial Conduct Authority over a redress plan related to its guarantor-loans division continue and that it is working on an alternative transaction.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
02-13-23 0406ET
