The FTSE 100 closed up 0.9% Wednesday--the highest closing value since May 23--as oil prices eased and investors anticipated interest rates in the U.S. will be left on hold by the Federal Reserve. "While a more positive tone has prevailed today thanks to easing oil prices and the lower U.K. CPI reading, the Fed decision could prompt a fresh wave of selling," IG analyst Chris Beauchamp says in a note. Taylor Wimpey was the day's biggest riser, up 5.55%, followed by Barratt Developments, up 4.7%, and BT, up 4.3%. Smurfit Kappa led the day's fallers, down 3.9%, followed by WPP and Melrose Industries, down 2% and 1.8% respectively.
COMPANIES NEWS:
Pearson Names Omar Abbosh as Incoming CEO
Pearson said it has appointed Omar Abbosh as its new chief executive officer, effective early 2024 and succeeding current CEO Andy Bird, who has decided to retire.
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Finsbury Food Agrees to GBP143.4 Mln Takeover
Finsbury Food Group said Wednesday that it has agreed to a 143.4 million pound ($177.7 million) takeover by Frisbee Bidco, a company owned by funds managed by asset management company DBAY.
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M&G Swung to 1H Pretax Profit; Sees Progress on 2025 Targets
M&G reported a swing to pretax profit for the first half of 2023 and said it is making good progress on its targets to 2025.
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PageGroup Targets GBP400 Mln Operating Profit, GBP1.5 Bln Shareholder Distributions by 2030
PageGroup is targeting operating profit of 400 million pounds ($495.7 million) and GBP1.5 billion of shareholder distributions by 2030.
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Ten Entertainment Pretax Profit Fell; Backs Full-Year View
Ten Entertainment said its pretax profit fell in the first 26 weeks of the year, largely due to increasing costs, but that it remains on track to meet its full-year target.
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Galliford Try Confident to Meet Market Views After Profit, Revenue Soar
Galliford Try Holdings said it expects profit in the current financial year to reach the high end of market views after growth in its infrastructure division and acquisitions boosted pretax profit and revenue in fiscal 2023.
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Close Brothers Buys Irish Motor Finance Company Bluestone Motor
Close Brothers Group is buying Irish motor finance company Bluestone Motor Finance (Ireland) DAC for an undisclosed cash sum.
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Warpaint London Profit, Revenue Rose on Higher Sales; Well-Positioned for Future
Warpaint London said its first-half pretax profit and revenue rose on a significant step-up in sales in the U.K. and Europe, and that it was well-positioned for the future.
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Dunelm FY 2023 Pretax Profit Fell; Sees Growth in FY 2024
Dunelm Group posted a fall in pretax profit for fiscal 2023 on operating costs inflation despite higher sales and said it sees further volume-driven growth in the year ahead.
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LBG Media Backs Full-Year View After Pretax Loss Narrowed
LBG Media said its pretax loss narrowed in the first half of the year, boosted by a 10% rise in revenue, and that it backed its full-year outlook.
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Ten Lifestyle Sees FY 2023 Revenue, Adjusted Ebitda Slightly Ahead of Views
Ten Lifestyle Group expects to modestly beat revenue and core earnings expectations for fiscal 2023.
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Thor Energy Shares Jumped on Premium Share Placing to Fund Uranium Drilling in US
Shares in Thor Energy rose 15% after it said it raised 1 million Australian dollars ($645,400) to move forward uranium exploration at its assets in Colorado and Utah through a premium share placing.
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Dianomi Shares Fall on Swing to 1H Loss, Revenue Decrease
Dianomi shares fell after the company said it swung to a first-half pretax loss and revenue decreased as traffic slumped, though it added that it expects to return to profit in the second half.
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Ethernity Networks Pretax Loss Widened, But Sees Positive Cash Flow
Ethernity Networks reported a widened pretax loss for the first half despite a rise in revenue, but said it targets a positive cash flow in the second half.
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BrandShield Shares Fall on Stock Delisting Plan, Equity Fundraisings
Shares of BrandShield Systems fell 44% in early trade Wednesday after the company said it is seeking to cancel trading of its shares on London's junior AIM and raise up to 2.9 million pounds ($3.6 million) via a share subscription and open offer.
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e-Therapeutics Names Timothy Bretherton as CFO
e-Therapeutics said Timothy Bretherton has become chief financial officer in a non-board role with immediate effect.
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Round Hill Music Royalty Fund Revenue Rises on Growing Market
Round Hill Music Royalty Fund said revenue for the first half of 2023 rose, supported by a growing music market and the activity on its rights-management platform.
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Journeo Adds to Nordic Presence With Purchase of Danish Company MultiQ
Journeo said it has completed the acquisition of intelligent transport systems company MultiQ Denmark for 2.5 million euros ($2.7 million).
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Epwin Group Posts Stable Profit, Higher Revenue
Epwin Group reported first-half stable pretax profit and increased revenue and said that it expects to reach full-year expectations.
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ASA International Pretax Profit Falls on Higher Expected Credit Losses
ASA International Group reported a lower pretax profit for the first half, hit by lower recovery of overdue loans in India, higher expenses from expected credit losses and currency headwinds.
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Tandem Group Shares Fall After 2023 Sales Seen Missing Market Views; 1H Profit Fell
Tandem Group shares fell after the company said it expects full-year sales to miss market expectations, and swung to a first-half pretax loss amid a difficult macroeconomic environment.
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Tavistock Investments Swung to Pretax Loss After Disposal Gain in Prior Year
Tavistock Investments swung to a pretax loss for fiscal 2023 compared to the previous year when it booked a gain from the sale of its subsidiary.
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UK's Civil Aviation Authority Appoints Tracey Martin as Permanent CFO
The U.K. Civil Aviation Authority said it has appointed interim Chief Financial Officer Tracey Martin to the role on a permanent basis, as well as to the board.
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DP Aircraft Swings to Loss as Costs Increase, Rental Income Falls
DP Aircraft I Limited swung to a pretax loss in the first half of the year on high finance costs and lower rental income, it said Wednesday.
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Saietta Names David Woolley as Incoming CEO
Saietta said it has appointed David Woolley as chief executive officer, effective Oct. 2.
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AssetCo Sells Stake in Rize ETF for Up to GBP10.5 Mln
AssetCo sold its 70% stake in exchange-traded fund specialist Rize ETF to U.S. firm ARK Invest for up to 10.5 million pounds ($13 million).
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Oxford BioMedica Shares Rise on Transformational Deal Talks, Revenue Growth Expectation
Shares of Oxford BioMedica rose 16% in early trade Wednesday after the company said it is in exclusive talks to buy European CDMO ABL Europe from Institut Merieux for 15 million pounds ($18.6 million) in shares, as part of a pure-play CDMO transformation.
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Elementis Shares Rise After Shareholder Calls for Sale of Business
Shares of Elementis rose 13% on Wednesday after the company said that it continues to make progress toward its medium-term goal of 17% adjusted operating margin and doesn't see an immediate sale of the business to be in the best interest of shareholders.
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MyCelx Technologies Shares Rise on Near Halved Net Loss, Upbeat Outlook
Shares of MyCelx Technologies rose 26% on Wednesday after the company reported a near halved net loss for the first half year on higher revenue that was driven by contract awards from both new and existing customers as producers upgrade or expand given the current oil price environment.
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Falanx Cyber Shares Jump as It Flags Talks to Sell Division
Falanx Cyber Security shares rose after it said it was in advanced negotiations for the sale of its cyber security division, and that its shares will be suspended on AIM effective Oct. 2 as publishing of its results for fiscal 2023 will be delayed.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
09-20-23 1250ET
