The FTSE 100 index closed Friday up 0.6% to 7494 points, in line with European peers, lifted by oil-exposed stocks and helped by insurer Aviva. Shares of the life insurer outperformed the index, closing up 5.3% on the back of press reports that it could be the subject of a takeover approach, CMC Markets U.K. chief market analyst Michael Hewson said in a note. "These reports have claimed that Allianz in Germany and a couple of other parties might be mulling a GBP6 a share offer," Hewson adds. Legal and General was the second highest riser with a 3.2% increase on the back of the speculation, followed by B&M, up 3%. On the opposite side of the table, Rentokil shares fell 2.6%, followed by Unilever, down 2.6%.


COMPANIES NEWS:

GSK Raises $1.08 Bln From Sale of Haleon Shares

GSK said it raised 885.6 million pounds ($1.08 billion) from the sale of some of its shares in Haleon, reducing its stake in the consumer-healthcare business to around 7.4%.

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Shell Sees 3Q Earnings Boost from Stronger Gas, Chemicals Trading

Shell said it expects its third-quarter earnings to be boosted by stronger gas and chemical trading, while its production volumes are on track to meet targets.

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J.D. Wetherspoon Pretax Profit Rises as Postpandemic Sales Recovery Continues

J.D. Wetherspoon said pretax profit for fiscal 2023 rose as the postpandemic sales recovery continued, and that for the first nine weeks of the new year like-for-like sales were up 9.9%.

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De La Rue Backs FY 2024 View; Sees 1H Ahead of Guidance

De La Rue backed its profit expectations for fiscal 2024 and it said it expects to report that the first half of the year was ahead of its previous guidance.

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SRT Marine Systems Expects Pretax Loss; Sees Robust Contract Order Book in 2H

SRT Marine Systems reported a first-half pretax loss, while it expects second-half revenue to benefit from upcoming order book of system projects.

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Vast Resources Raises GBP1.8 Mln for Romania Mine Costs, Working Capital

Vast Resources raised 1.8 million pounds ($2.2 million) through share placing for working capital and to meet its obligations in Romania and at a corporate level.

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XP Power U-Turns, Cancels 2Q Dividend After Major Shareholders' Feedback

XP Power is cancelling the second-quarter dividend due to be paid next week after taking into account the views of its major shareholders, it said Friday.

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600 Group Intends to Sell Majority Stake in US Laser Businesses for $9.5 Mln

600 Group said it signed a letter of intent to potentially dispose of a majority interest in its industrial laser businesses in the U.S. for $9.5 million in cash.

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Quartix Technologies Shares Fall on Cut Revenue Expectations

Quartix Technologies shares fell after the company said it won't meet market expectations for revenue in 2023 or 2024, as growth has been lower than expected.

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Tlou Energy Raises AUD678,977 Via Share Placing For Botswana Project

Tlou Energy said it raised 678,977 Australian dollars ($432,644) through share placing for the development of its Lesedi power project in Botswana.

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Acuity RM Names Angus Forrest Chairman After Simon Bennett Resigns

Acuity RM Group said Angus Forrest will succeed Simon Bennett as its chairman.

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Landore Resources to Hold Fundraise in Relation to Canadian Dual Listing

Landore Resources said that it will carry out a fundraise to facilitate its dual listing in Canada's TSX Venture Exchange, and that it will seek shareholder approval at an extraordinary general meeting to be held Oct. 23.

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Windar Photonics Chairman Johan Blach Petersen Steps Down

Windar Photonics said Chairman Johan Blach Petersen is stepping down with immediate effect, and that it has appointed David George Lis as the successor.

MARKET TALK:

Wizz Air's Capacity Management Strategy Seen Supporting Unit Costs

1059 GMT - Wizz Air plans to increase aircraft utilization next year amid Pratt & Whitney engines issues, HSBC analysts Achal Kumar and Ruxandra Haradau-Doser say in a note. Although the budget carrier is scheduled to receive 30 aircraft, partially offsetting cost pressures, any delivery delays could slow down capacity growth, addling pressure on its costs whereby a 5% capacity cut could lower revenue by EUR275 million, they say. "Overall, it appears that the company is confident about managing its capacity efficiently, and in our view, that should support its unit cost," the analysts say. HSBC upgrades its rating on the stock to hold from reduce and lowers its target price to 1,925 from 2,260 pence. (anthony.orunagoriainoff@dowjones.com)

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Wetherspoons Seen Moving in the Right Direction

1046 GMT - J.D. Wetherspoon's FY 2023 performance was solid and indicates that the group is moving in the right direction after passing through difficult years, Wealth Club portfolio manager Charlie Huggins says in a note. "The rise in energy and food costs over the last 18 months has posed major headaches for Wetherspoons and put pressure on margins. However, inflation now appears to be moderating which should bode well for profits in 2024," he says. The group has benefited by a better-than-feared U.K. consumer spending while focus on low prices helped to keep customers loyal, eventually driving the robust like-for-like sales growth, he adds. (michael.susin@wsj.com)

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Metro Bank Shares Claw Back Some Losses From Capital-Raise News Slump

1043 GMT - Metro Bank shares rise 11.5% in morning trade, rebounding lightly from some of Thursday's losses. The British lender's stock had slid 25% by market close following news of its urgent capital-raising plans. The bank "is reportedly in talks to sell some of its mortgage book worth around GBP3 billion to prop up its balance sheet, helping to boost shares today," Interactive Investor head of investment Victoria Scholar says. She adds that Metro Bank faces a problem unique to itself rather than a sectorwide issue, and this shows how difficult it is for a challenger bank to compete with the longstanding dominant bigger peers. Shares trade 4.3 pence up at 41.8 pence, and are down 65% since the start of the year. (elena.vardon@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

10-06-23 1217ET