FTSE 100 Rises as Stocks Recover; Pearson Gains
0934 GMT - The FTSE 100 index rises 1%, or 79 points, to 7286 as stocks recover some of the losses made Thursday after the outbreak of hostilities in Ukraine. Russia-focused Evraz and Polymetal International gain and financial stocks are also higher. Education publisher Pearson advances 9% after reporting lower annual profit, but raising its dividend payout and saying it planned to buy back shares. International Consolidated Airlines Group shares fall 1.5% after the owner of BA and Iberia reported a narrowed net loss for 2021 and said it expected a strong summer season despite the effects of the Omicron coronavirus variant on bookings. (philip.waller@wsj.com)
Companies News:
Evraz Confirms Potential Exposure to Sanctions Against Russia
Evraz PLC said Friday that it is exposed to the effects of policies adopted by the Russian government, and that the worsening situation in Ukraine increases the risk of sanctions which could affect its operations.
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Rightmove 2021 Profit Rebounded to Above Pre-Pandemic Levels Amid Housing Boom
Rightmove PLC said Friday that pretax profit for 2021 rose above pre-pandemic levels on the back a housing boom driving up revenue per advertiser.
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Frasers Group Acquires Troubled Studio Retail's Operating Business for GBP26.8 Mln
Frasers Group PLC said Friday it has acquired digital retailer Studio Retail Group PLC's main operating subsidiary Studio Retail Ltd. and certain other assets for a consideration of 26.8 million pounds ($35.9 million).
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Pearson 2021 Pretax Profit Fell; To Buy Back Shares of Up to GBP350 Mln
Pearson PLC said Friday that pretax profit fell in 2021, raised its dividend payout and said it planned to buy back shares.
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IAG Expects 1Q Operating Loss, Return to 2Q Profit After 2021 Net Loss Narrowed
International Consolidated Airlines Group SA said Friday that it expects a significant operating loss in the first quarter before a return to profit in the second quarter, as it reported a narrowed net loss for 2021.
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Babcock International's Performance in 10 Months to Jan. 31 Was in Line With Views
Babcock International Group PLC said Friday that its performance in the first 10 months to Jan. 31 was in line with expectations, and that its outlook for fiscal 2022 was unchanged.
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Lukoil Buys 50% Stake in Area 4 Oil Project Offshore Mexico
Lukoil PJSC said Friday that it has completed the acquisition of a 50% stake in the Area 4 oil project offshore Mexico for $435 million plus expenditures of around $250 million.
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Alliance Trust 2021 Profit Rose Against Weak Comparative Year
Alliance Trust PLC said Friday that its 2021 pretax profit rose significantly on higher revenue and a weak comparative year, but missed its own performance benchmark.
Market Talk:
Rightmove's Momentum Set to Persist Into 2022
0931 GMT - Rightmove's 2021 results were in line and included a slightly better-than-expected final dividend, Citi says. The online property portal's strong momentum in average revenue per advertiser, or ARPA growth is expected to flow from the second half of the year into 2022, the U.S. bank says. However, while more details are awaited there aren't likely to be many changes to consensus expectations of a GBP98 ARPA uplift in 2022 to GBP1,287, the U.S. bank says. "There is scope for advertiser numbers to come down, with a consensus it will rise 1% on-year, but the current ARPA uplift assumption appears reasonable," Citi says. The bank retains its sell rating and 555 pence price target on the stock. Shares are up 4.3% at 641.8 pence. (joseph.hoppe@wsj.com)
UK Gilt Yields Tick Lower as Russia-Ukraine Crisis Weighs
0931 GMT - Investors continue to favor perceived safe-haven assets, including U.K. sovereign bonds, as Russia renewed bombing and targeted Kyiv early Friday. The yield on the 10-year U.K. benchmark government bond, or gilt, trades at 1.425%, down from the previous day's close of 1.438%, according to Tradeweb. The move reflects a general appetite for other safe-haven assets including U.S. Treasurys, German government bonds and the U.S. dollar. Yields move inversely to bond prices. (lorena.ruibal@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-25-22 0453ET
