The FTSE 100 index closed down 0.6% at 7,684.30 points, dragged by online grocer and retail-technology specialist Ocado and falling commodity prices. "The week has gotten off to a poor start in London, on an otherwise quiet day for corporate news," IG Chief Market Analyst Chris Beauchamp said in a market comment. "Ocado looks to be vulnerable to more selling as investors digest the impact of a spat with key partner Marks & Spencer, while a four-month low in iron ore and a major reversal in copper prices seems to spell more pain ahead for mining stocks," he said.


COMPANIES NEWS:

Next Looking to Buy The Body Shop Assets, Sky News Reports

--Next PLC is looking to buy some assets of collapsed retailer The Body Shop, Sky News reports.

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Hammerson to Sell Union Square Shopping Center for $140.7 Mln

Hammerson said it will sell its shopping center in Aberdeen Union Square to an affiliate of Lone Star Real Estate Fund VI for 111 million pounds ($140.7 million).

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Bunzl Shares Dive on Revenue, Operating Profit Warning

Bunzl shares fell after the company guided for lower revenue and operating margin for this year due to a slower-than-expected start to trading in North America.Bunzl Buys 80% Stake in Nisbets for Initial GBP339 Mln

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Bunzl Buys 80% Stake in Nisbets for Initial GBP339 Mln

Bunzl PLC is buying 80% of catering equipment distributor Nisbets for an initial 339 million pounds ($429.6 million) in cash.

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Bank of Ireland Group Expects Higher Business Income, Sets Out Shareholder Returns

Bank of Ireland Group expects lower net interest income but higher business income this year, and outlined capital returns representing 13% of its market capitalization.

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Begbies Traynor Performance In line With Expectations

Begbies Traynor Group said that third-quarter performance has been consistent with expectations, and said that the outlook for the year remains unchanged.

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International Personal Finance Delays 2023 Results on Polish Regulatory Letter

International Personal Finance is delaying the publication of its 2023 earnings, which it expects to beat views, as it considers the impact of a regulatory letter from the Polish financial watchdog on its results.

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Bunzl Shares Dive on Revenue, Operating Profit Warning

Bunzl shares fell after the company guided for lower revenue and operating margin for this year due to a slower-than-expected start to trading in North America.

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Liberty Media in Talks to Acquire MotoGP-Manager Dorna, Expansion Reports

-- Liberty Media Corporation is in talks with Bridgepoint regarding the potential acquisition of Dorna, which holds exclusive global rights to organise the FIM Road Racing World Championship (MotoGP) until 2041, according to Spanish business newspaper Expansion, citing unnamed sources.

MARKET TALK:

Equities Could Be Dangerously High, Consider Reducing Tech Exposure, Says Saxo

1436 GMT - Equity markets could have reached overly high levels when indexes in Europe and the U.S. shot up to record peaks last week following stellar results from AI giant Nvidia, Saxo strategists say in a note. "After last week's Nvidia and AI bonanza it is worth reflecting this week whether equity markets are getting dangerously high," they say. Saxo is particularly concerned about U.S. equities and advise investors begin thinking about reducing exposure to technology stocks or reducing equity exposure outright, while increasing diversification through bonds. The pan-European Stoxx 600 index falls 0.2% to 496.26, having hit a high of 497.74 on Friday. (jessica.fleetham@wsj.com)

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Airline Shares Up on Ryanair Summer Price Rise Comments

1305 GMT - Airline shares rose after Ryanair CEO Michael O'Leary said peak summer 2024 fares in Europe were likely to rise again this year due to problems with Boeing and Airbus aircraft, according to media reports. The Irish low cost carrier said it may have to trim its summer schedules as these were built around the delivery of 50 of the 57 Boeing aircraft it has on order by the end of March. O'Leary added that issues with Pratt & Whitney engines on Airbus A320 planes would also play a part as operators will see a number of planes grounded for inspection. Ryanair shares are up 0.2% at EUR20.49, easyJet shares rose 2% at 556.80 pence, IAG shares are up 1.4% at 154.90 pence and Wizz Air shares are flat at 2,221 pence. (anthony.orunagoriainoff@dowjones.com)

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U.K. Antitrust Probe's Impact on Housebuilders Remains to Be Seen

1248 GMT - The U.K.'s Competition and Markets Authority investigation into the housebuilder firms that allegedly shared information regarding pricing, incentives and sales rates is problematic for the sector, Quilter Cheviot property analyst Oli Creasey says in a note. Despite not being considered as the main factor in the under-delivery of new homes, it is still possible that housebuilders could have broken the law and therefore might be levied as consequence, Creasey highlights. "How strong a conclusion the investigation comes to, and what the impact on the housebuilding firms will be, remains to be seen," the analyst says. Shares of main housebuilders Taylor Wimpey, Berkeley, Barratt Developments and Persimmon are down 3.9%, 1.4%, 1.0% and 3.5%, respectively. (michael.susin@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

02-26-24 1232ET