The FTSE 100 fell 0.4% on Monday as investors were concerned by the sharp rise in U.S. Treasury 10-year note yields, stemming partly from comments made by Federal Reserve Chair Jerome Powell, as well as upcoming U.K. jobs data. "Cracks have been appearing in the U.K. labor market. The question for tomorrow is have they widened and what might that mean when the Bank of England's Monetary Policy Committee members next get round the table?" AJ Bell analyst Danni Hewson said in a note. Fresnillo, AstraZeneca and BT were the session's biggest fallers, down 4.7%, 3.2% and 2.85% respectively.


COMPANIES NEWS:

Vistry Group Reports Good 3Q Affordable-Home Demand But Subdued Private Sales

Vistry Group said it has had good demand for affordable homes though private sales activity remains subdued, and backed prior guidance for full-year adjusted profit.

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Keller Group Sees 2023 Operating Profit Ahead of Views

Keller Group said Monday that it expects its operating profit for 2023 to materially beat views as trading momentum continued over its third quarter.

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Upland Resources Rejects GBP154.2 Mln Takeover Approach

Upland Resources has received a 154.2 million-pound ($187.6 million) takeover approach from SEC Capital which it has rejected, saying it significantly undervalues the current potential of the company.

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HeiQ Expects to Post Delayed Accounts Soon; Revenue to Miss Guidance on Deferrals

HeiQ said it expects to post its first-half 2023 and 2022 accounts in the coming days, allowing for trading in its shares to restart, though it added that 2022 revenue will miss previous guidance as it has decided to defer part of it.

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Mission Group Cancels Dividend, Expects to Miss Market Forecasts

Mission Group has cancelled its planned interim dividend and said it will miss full-year market forecasts given recent challenging trading conditions, and despite the first half-year meeting the board's expectations.

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Northern Bear to Buy Up to $3.8 Mln in Shares via Tender Offer

Northern Bear said it has proposed to return up to 3.1 million pounds ($3.8 million) to shareholders through a tender offer, and that current performance is in line with expectations.

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Indivior to Pay $385 Mln in Settlement to Direct Purchasers for Suboxone Claims

Indivior said it will pay $385 million and book an extra charge to settle the last claims in its legacy antitrust litigation regarding its opioid-addiction treatment Suboxone, and that it expects to post on-year growth for its third-quarter revenue.

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Synectics Nonexecutive Chair Craig Wilson Resigns

Synectics said on Monday that nonexecutive Chair Craig Wilson has resigned and that it has appointed Steve Coggins as his successor.

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Shanta Gold Backs Full-Year Target on Stable Gold Output

Shanta Gold said it remains on track to meet its full-year production target after third-quarter output slightly fell on quarter, while costs improved.

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Eleco Appoints Mark Castle as Permanent Chair

Eleco said it has appointed Mark Castle as permanent chair of the board with immediate effect.

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Alphawave IP Group Names Rahul Mathur as Chief Financial Officer

Alphawave IP Group said Monday that it has appointed Rahul Mathur as chief financial officer starting Oct. 30.

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Advanced Oncotherapy Signs Term Sheet With Investor for Up to $80 Mln

Advanced Oncotherapy said on Monday that it has signed a nonbinding term sheet with a third-party investor expected to provide up to around $80 million in funding to meet cash flow requirements until its Light system gets European certification.

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Harvest Minerals Backs 2023 Sales Guidance, Sees Improving Demand

Harvest Minerals Ltd. backed its sales target for the full year and added that fertilizer demand its expected to improve during 2024.

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Tirupati Graphite Shares Rise on Expectations of Benefit From China Export Restrictions

Tirupati Graphite shares rose after the company said it is set to benefit from the likely boost in graphite prices and demand due to China's export restrictions because it is one of the few producers outside of the country.

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Trinity Exploration & Production Tightens Full-Year View After Slowed Output at Key Well

Trinity Exploration & Production narrowed its full-year sales target after lower-than-expected third-quarter production due to extended downtime on a key well offshore Trinidad.

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Kaspi.kz Plans $100 Mln Buyback After Strong 3Q Performance

Kaspi.kz JSC said Monday that it plans to start a new $100 million buyback program as it reported higher third-quarter earnings on the back of improved performance, mostly from higher transactions in its e-Commerce offering.

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MARKET TALK:

Tullow Oil Tipped to Benefit From Rising Output, Prices

1156 GMT - Tullow Oil looks set to benefit from production increases and rising oil prices, Jefferies says, upgrading the Africa-focused operator to hold from under-perform. Refinancing risk of Tullow's remaining $633 million of 2025 bonds looks more reasonably priced-in given improved production at the company's Jubilee field off the coast of Ghana, Jefferies says. Rising commodity prices are also continuing to boost industry balance sheets, Jefferies analyst Mark Wilson says in a note, increasing the brokerage's price target on Tullow's shares to 35 pence from 25 pence. Still, the stock drops 0.5% to 33 pence as Brent crude falls 0.3% to $91.89 a barrel, with most other major European-listed oil stocks also trading lower. (philip.waller@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

10-23-23 1252ET