London Stocks Seen Opening Slightly Higher

0644 GMT - The FTSE 100 is expected to open 5.0 points higher, according to IG, having closed on Monday at 7273.79. "The week started on a cautious note as European and U.S. stocks eked out small gains, but appetite was limited appetite on news that the new capital requirements for the U.S. banks would be tougher," Swissquote analyst Ipek Ozkardeskaya says in a note. U.K. data could weigh on sentiment as it showed unemployment rising to 4% while wage growth increased, raising the prospect that the Bank of England may need to keep raising interest rates while the economy slows. British Land will be among individual stocks in focus after it reported a strong 1Q in a performance update. (jessica.fleetham@wsj.com)

COMPANIES NEWS:

British Land Reports Strong 1Q, Leasing Activity Ahead of Estimated Values

British Land Co. on Tuesday said it had a strong operational and strategic performance in the first quarter of fiscal 2024, with good leasing activity ahead of estimated rental values despite macroeconomic uncertainty.

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Arcelik's Acquisition of Whirlpool's EMEA Domestic Appliances to Be Probed by U.K. Regulator

The U.K. Competition and Markets Authority said Tuesday that it is considering whether Arcelik's planned acquisition of Whirlpool's EMEA major domestic appliances business will lead to a relevant merger situation within its markets.

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Norman Broadbent 1H Net Fee Income, Earnings Rose

Norman Broadbent PLC said Tuesday net fee income rose in the second quarter and in the first half of the year, and that it expects to report that Ebitda for the first half also rose on year.

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Travis Perkins Names Crest Nicholson's Finance Director as Incoming CFO

Travis Perkins said Tuesday that its Chief Financial Officer Alan Williams will step down in 2024, and named Crest Nicholson's Group Finance Director Duncan Cooper as his replacement.

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STM Group Gets GBP41.6 Mln Takeover Bid

STM Group on Tuesday said it agreed on terms for a takeover by Pension SuperFund Capital, which values it at 41.6 million pounds ($53.5 million).

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Kingspan Sees 1H Trading Profit Slightly Up

Kingspan Group said Tuesday that it expects to report a trading profit for the first half that was slightly above the year-prior period, and that it is positioned favorably as it enters the third quarter.

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Speedy Hire Targets Revenue of GBP650 Mln as Sets Five-Year Financial Goals

Speedy Hire said Tuesday that it has set series of financial targets as part of Velocity, its five-year transformation and growth strategy.

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D4t4 Solutions FY 2023 Pretax Profit Rose on Lower Costs, FY 2024 In Line With Views So Far

D4t4 Solutions on Tuesday said its pretax profit rose in fiscal 2023 as it booked lower costs, and said its performance so far in fiscal 2024 has been in line with expectations.

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Galliford Try Sees FY 2023 Pretax Profit at Upper End of Market Views

Galliford Try Holdings said Tuesday that it expects to report fiscal 2023 pretax profit at the upper end of market consensus ranges, and that its outlook is positive.

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Chariot Raises $16.1 Mln via Oversubscribed Share Placing, Subscription

Chariot said Tuesday that it has now raised $16.1 million via the share placing and subscription first announced late on Monday, more than originally planned.

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Christie Group Chair and Chief David Rugg Steps Down Immediately; COO Named New CEO

Christie Group said Tuesday that Chairman and Chief Executive David Rugg will step down with immediate effect, and named Chief Operating Officer Daniel Prickett as the new CEO.

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Cornerstone FS Sees Positive 1H Adjusted Ebitda on Revenue Growth

Cornerstone FS on Tuesday said it expects to report positive adjusted earnings before interest, taxes, depreciation and amortization for the first half of 2023 given high levels of revenue growth during the period.

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Sosandar's 1Q Revenue Rose

Sosandar said Tuesday that trading in fiscal 2024 to date was in line with market expectations and revenue rose in the first quarter.

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Eagle Eye Solutions FY 2023 Revenue Rose, Reports Strong Momentum

Eagle Eye Solutions Group said Tuesday that it expects to report a rise in revenue for fiscal 2023 on the back of good momentum through the year, and that it has started the new financial year in a very strong position.

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EMIS Group 1H Performance in Line With Views; Sees Growth Weighted to 2H

EMIS Group said Tuesday that its performance for the first half was in line with the board's expectations and consistent with guidance, and that growth for the year would be more weighted to the second half.

MARKET TALK:

Dowlais's Electrification Seen as a Risk

0605 GMT - Dowlais Group is exposed to a potential margin pressures from electrification, Citi says in a note, initiating coverage of the specialist automotive engineering group with a sell rating. Battery-electric vehicles, or BEVs, look like a mid-term risk for the company, which could exert margin pressure on about 45% to 50% of its sales, the brokerage says, adding that consensus expects electrification to be neutral or positive. "In a nutshell, many of the components Dowlais competes in are at risk of commoditization and/or content-loss and/or over-capacity in the BEV world amid current or upcoming tech-disruptions," analysts write. Citi sets a 97 pence target price. (elena.vardon@wsj.com)

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Rainbow Rare Earth's South Africa Project Seen as Progressing Well

0604 GMT - Rainbow Rare Earths' Phalaborwa pilot plant is progressing encouragingly well, and shares should rally once the plan is fully commissioned this quarter, Berenberg analyst Richard Hatch writes in a research note. The rare-earth project in South Africa has started operations and remains on track to deliver first production of a marketable rare-earth sulphate product this quarter, Hatch says. "Successful delivery of a marketable rare earth sulphate product and a subsequent successful delivery of a separated rare earth oxide product will be viewed by the market as major de-risking events for the project and drive share price outperformance," he says. Berenberg keeps a buy rating on the London-listed miner's stock. (christian.moess@wsj.com)


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(END) Dow Jones Newswires

07-11-23 0312ET