FTSE 100 Rises as Traders Continue to Monitor Ukraine Crisis

The FTSE 100 gains 0.2% to 7590 points as investors continue to monitor developments in the Ukraine war. Pearson shares rise 2.3% after falling sharply in the previous session as Apollo said it wouldn't make another bid for the education publisher after having a third offer rejected earlier this week. Energy giants BP and Shell fall 1.9% and 1.2% respectively as oil prices drop on reports the U.S. is considering a hefty release of its crude reserves in coming months to ease soaring oil prices caused by the Russia-Ukraine conflict. However, the move will "not immediately change the structural deficit caused by Russian sanctions," Oanda says. 


 
Companies News:

Provident Financial Swung to 2021 Pretax Profit; Resumes Dividend Payout

Provident Financial PLC on Thursday reported a swing to pretax profit for 2021 on the back of a positive macroeconomic environment as the company rebuilds its business with the launch of its personal loans business and the closure of consumer credit division, but it was below market consensus.

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Royal Bank of Canada to Buy Brewin Dolphin for $2.1 Bln

Brewin Dolphin Holdings PLC said Thursday that it has agreed to a 1.6 billion-pound ($2.10 billion) takeover by Royal Bank of Canada after being hit by the effects of Russia's invasion of Ukraine.

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James Halstead 2021 Earnings Fell Slightly

James Halstead PLC reported Thursday a slight fall in 2021 pretax profit, noting that higher prices don't seem to have slowed demand, with sales increasing in February and March.

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Emmerson Says Financing Discussions for Khemisset Potash Project Are Progressing Well

Emmerson PLC said Thursday that financing discussions for its Khemisset potash project in Morocco progressed well in the first quarter of 2021.

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Euromoney Institutional Investor on Track to Meet FY 2022 Expectations

Euromoney Institutional Investor PLC said Thursday that its first-half performance was encouraging and that it continues to be well placed to post fiscal 2022 results in line with the board's expectations.

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NWF Group Upgrades FY 2022 Earnings Guidance for Second Time in Month

NWF Group PLC said Thursday that it has continued to perform strongly and that the board now expects to report earnings for fiscal 2022 ahead of its recently upgraded guidance for the year.

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Aukett Swanke Group FY 2021 Pretax Loss Widened on Delays Due to Covid-19

Aukett Swanke Group PLC said Thursday that its pretax loss for fiscal 2021 has widened, blaming uncertainties caused by the Covid-19 pandemic and its consequent delays.

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Xeros Pushes Ebitda Profitability, Cash Breakeven Targets out to 2024; Shares Dive

Shares in Xeros Technology Group PLC plummeted Thursday morning after it said that it is no longer likely to reach Ebitda profitability and cash breakeven in the first quarter of 2023, and now expects this to be achieved in 2024.

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Time Out Group 1H Pretax Loss Narrowed as Economy Began to Reopen

Time Out Group PLC said Thursday that its pretax loss for the first half of fiscal 2022 narrowed on higher revenue as the economy began to reopen after the pandemic had hit the business environment.

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Curtis Banks' 2021 Pretax Profit Rose; Says Prospects for 2022 are Positive

Curtis Banks Group PLC reported Thursday a rise in pretax profit for 2021 and said it expects to benefit from a material improvement in top-line growth in 2022.

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Mosman Oil & Gas 1H Loss Narrowed on Higher Oil Prices, US Acquisitions

Mosman Oil & Gas Ltd. on Thursday reported a narrowed loss for the fiscal first half ended Dec. 31, as revenue rose on the back of higher oil prices and following the acquisition of new assets in the U.S.

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Altitude Group Sees Higher FY 2022 Revenue on Positive Business Climate

Altitude Group PLC said Thursday that it expects a rise in revenue for fiscal 2022 as the recovery has accelerated amid a continued positive business environment.

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Toople's First Half FY 2022 Positive, Shares Gain

Shares in Toople PLC rose on Thursday after the company said that its performance in the first half of fiscal 2022 was positive, and that it expects its revenue and gross profit will increase as the U.K. economy learns to live with Covid-19 and returns to normal.

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Hostelworld 2021 Pretax Loss Narrowed; 2022 Performance Strong So Far

Hostelworld Group PLC on Thursday reported a significantly narrowed pretax loss for 2021 and said it is benefiting from a strong start to 2022 following the hit suffered in the last six weeks of 2021 as a result of the effects of the Omicron variant of coronavirus.

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InnovaDerma Shares Jump on Brand Architekts Merger

Shares in InnovaDerma PLC jumped 36% on Thursday after the company agreed to a recommended cash and shares merger that values its issued ordinary share capital at around 13.6 million pounds ($17.9 million).

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BlueRock Diamonds Shares Fall on Discounted GBP2.1 Mln Equity Raise

Shares in BlueRock Diamonds PLC fell Thursday in early trading after the diamond producer said it will undertake a discounted 2.1 million-pound ($2.8 million) equity raise.

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InnovaDerma's 1H Operating Pretax Loss Narrowed; Shares Rise

Shares in InnovaDerma PLC rise, after it reported on Thursday a narrowed operating pretax loss for the first half of fiscal 2022, as well as a decline in revenue, but said that its overall performance has significantly improved when compared to the same period in fiscal 2020.

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3i Infrastructure's Portfolio Companies Delivered Higher 1H Total Income Cash

3i Infrastructure PLC said Thursday that its portfolio is performing in line with expectations for the first half of fiscal 2022, with total income and non-income cash rising significantly when compared to the year-earlier period.

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Agriterra FY 2022 Sales Lower Than Expected Despite Rise in Extraction Rate

Agriterra Ltd. said Thursday that total sales for fiscal 2022 were much lower than forecast despite the extraction rate at its grain division rising to 79% from 75% in fiscal 2021.

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Renalytix 1H Pretax Loss Widened Materially

Renalytix PLC on Thursday reported a significantly widened pretax loss for the first half of fiscal 2022 and an increased revenue for the period.

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Brand Architekts Swung to 1H Pretax Loss on Higher Freight Charges, Marketing Spend

Brand Architekts Group PLC said Thursday that it swung to a pretax loss for the first half of fiscal 2022 after incurring increased freight charges and higher marketing spending relating to the theunexpektedstore.com marketplace launch. 


 
Market Talk:

UK Households Seen Using Savings to Support Spending

0824 GMT - The U.K.'s GDP data for the fourth quarter suggests that households appear willing to reduce their savings rate in order to carry on spending, Capital Economics says. The savings rate fell to 6.8% in 4Q from 7.5% in 3Q, a decline that bodes well for economic growth as it signals that consumers are using savings to offset lower real incomes amid the current cost of living crisis, the economic-research firm says. "This is the main reason why, although GDP growth will slow this year, a recession will probably be avoided," Capital Economics says.

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Provident Financial's Dividend Guidance Was Ahead of Views

0749 GMT - Provident Financial's 2021 results saw it deliver a solid operating profit and its guidance for its 2022 dividend payout beat market expectations, RBC Capital Markets says. The U.K. consumer-finance company resumed its dividend payout in 2021, at 12 pence a share, and expects its 2022 dividend policy to be around 40% of adjusted earnings. The Canadian bank notes this policy implies a dividend of around 16 pence for 2022, beating the consensus of 12 pence. RBC has a sector perform rating on the stock and a price target of 325 pence. Shares are up 2.4% at 325.0 pence.


Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

03-31-22 0449ET