Sep 7, 2023

FTSE 100 Falls After Weak Performance in Asian Markets 5-day change Today at 06:31 am FTSE 100 Falls After Weak Performance in Asian Markets 0927 GMT - The FTSE 100 edges lower after weak performance in Asian markets following softer-than-expected trade data from China. "There's negative momentum across equities globally with Asian markets in the red overnight and the tech-heavy Nasdaq stateside closing down for the third straight session," Interactive Investor head of investment Victoria Scholar says in a note. China sensitive mining stocks like Anglo American and Rio Tinto are among the biggest losers down 2.4% and 2.2%, respectively. Shares in insurer Beazley are down 4.9% after the company reported pretax profit below forecasts. (miriam.mukuru@wsj.com) COMPANIES NEWS: Currys said that first-quarter revenue fell as its Nordics markets continued to slip. --- Beazley Backs Full-Year View After Pretax Profit Rise Beazley backed its full-year guidance after pretax profit rose to a record-high in the first half of the year. --- BATs to Sell Russian, Belarusian Businesses for Undisclosed Sum British American Tobacco has sold its Russian and Belarusian businesses to a consortium led by members of BAT Russia's management team for an undisclosed sum, it said Thursday. --- Direct Line Pretax Loss Widened on Lower Motor Business Earnings Direct Line Insurance Group said its pretax loss widened as it was hit by lower motor business earnings, and that it took steps to improve motor margins over the period. --- Melrose Industries Pretax Loss Narrows, Boosted by Aerospace; Upgrades 2023 Guidance Melrose Industries said its pretax loss for the first half narrowed as revenue was boosted by the performance of its aerospace division, and upgraded its guidance for the year. --- Direct Line Agrees Sale of Brokered Commercial Insurance Business for Up to GBP550 Mln Direct Line said it has agreed to sell its brokered commercial insurance business lines to Intact Financial Corp. for potentially up to 550 million pounds ($687.9 million). --- Nucleus's GBP242 Mln Acquisition of Curtis Banks Cleared by UK Regulator The U.K. Competition and Markets Authority has cleared Nucleus Financial Platforms' 242 million-pound ($302.7 million) acquisition of Curtis Banks Group, following a review of the deal. --- Eurowag's 1H Pretax Profit Slipped on One-off Costs; Adjusted Earnings Rose W.A.G Payment Solutions said that its pretax profit fell on one-off costs from acquisitions and its transformation program, but revenue and adjusted earnings rose. --- International Public Partnerships Pretax Profit Fell on Portfolio's Unrealized Fair Value Loss International Public Partnerships said that pretax profit fell for the first half, mostly due to the unrealized fair value loss on the portfolio in the period, and raised its dividend target for the year. --- Funding Circle Holdings Swung to 1H Pretax Loss on Rising Expenses; Backs Full-Year View Funding Circle Holdings backed its full-year guidance after swinging to an expected pretax loss in the first half of the year amid higher operation expenses. --- Safestore Revenue Rises on Strong Domestic Performance Safestore Holdings said revenue rose in the third quarter, driven by robust performance with domestic customers, and said it sees full-year adjusted earnings per share meeting the lower end of market expectations. --- Jet2 on Track to Exceed Profit Market Expectations Jet2 said it was on track to exceed current market expectations for profit before foreign exchange revaluations and taxation for fiscal 2024, and that its summer seat capacity on sale was 7.3% higher than in the same period of 2022. --- Playtech's Pretax Profit Fell on Asset Writedowns Despite Record-High Earnings Playtech's pretax profit fell in the first half of the year due to writedowns of financial assets, although revenue and earnings rose, it said Thursday. --- Inspecs Swung to 1H Pretax Profit on Higher Volumes; Confident for Full-Year Inspecs Group said it swung to a pretax profit as revenue rose on higher volumes, and said it was confident for the full-year. --- PayPoint Board Confident of Meeting Views Amid Positive Sales Momentum PayPoint said the positive momentum outlined at its July trading update has continued, and that the board remains confident in meeting expectations for fiscal 2024. --- Pantheon Resources to Raise $2.8 Mln in Private Placing Pantheon Resources said it plans to raise $2.8 million in a private placement of shares at a 10% discount. --- Hilton Food Pretax Profit Falls on Higher Costs, Raises Dividend Hilton Food Group said its pretax profit for the first half sharply fell on the back of increased costs, but increased its dividend payout because it is performing in line with expectations. --- De La Rue Backs Adjusted Operating Profit Guidance for the Half and Full Year De La Rue backed its adjusted operating profit guidance for the first half and the full year ending March 2024, and said it expected its net debt levels on both those dates to be in line with guidance. --- Chill Brands Shares Rise on Talks to Expand Chill Zero Products Presence in UK, US Chill Brands shares rose after it said it has entered discussions with U.K. national retailers and buying groups, and discussions with larger distribution partners in the U.S. following the launch of its Chill Zero nicotine-free vapour products. --- Home REIT Tenant Enters Creditors' Voluntary Liquidation Home REIT said that Supportive Homes CIC, a non-performing tenant representing 11.3% of the rent it demanded in August, has entered creditors' voluntary liquidation. --- Lords Group Shares Fall After Warning of Challenging Market Shares in Lords Group Trading fell Thursday after the company said it continues to see a challenging market environment and reported a lower pretax profit for the first half. --- Polarean Imaging Shares Tumble On Capital Needs Announcement Shares in Polarean Imaging dropped 21% after the company said it might not be able to continue its operations if its doesn't raise funds. --- Synthomer Shares Fall on Rights Issue, Capital Reorganization, 1H Loss Shares of Synthomer fell 31% in early trade on Thursday after the company announced plans to raise 276 million pounds ($345.2 million) via a rights issue alongside a capital reorganization, and after reporting a swing to pretax loss for the first half year. --- Genus Pretax Profit Fell in Fiscal 2023 on Biological Assets Valuation Genus said pretax profit fell in fiscal 2023 while revenue rose, and that it expects currency translations and higher financial costs to hit fiscal 2024. --- Fix Price Group 1H Profit Rose on Improved Sales Fix Price Group said that first-half pretax profit slightly rose on the back of improved retail and wholesale revenue. --- MPAC Expects Margins to Normalize in 2H as Effects of Earlier Supply-Chain Disruption Clear MPAC Group said that although its projects in the first half of 2023 have been affected by last year's supply-chain disruption, this has been largely cleared and it expects margins to normalize in the second half of the year. --- Cairn Homes Hikes Guidance Despite Slip in Profit, Revenue Cairn Homes said that pretax profit and revenue both slipped in the first half on a change in product mix, but raised its full-year guidance and increased its buyback program. --- Lloyd's of London Swings to Pretax Profit on Strong Underwriting Growth Lloyd's of London said it swung to a pretax profit in the first half after strong underwriting growth and an increase in gross written premiums. --- Amur Minerals Shares Halted on AIM Amur Minerals said Thursday that trading in its shares has been suspended on London's junior AIM as it hasn't made an acquisition or reverse takeover deal within the required time frame. --- Energean Cuts Full-Year Production View on Slow Start at Karish Field in Israel Energean lowered its full-year production guidance on start-up issues at the Karish field in Israel, but said its production nearly tripled in the first half of the year, while pretax profit and revenue grew. --- EMIS Group 1H Pretax Profit Slipped on Exceptional Costs; Adjusted Profit Rose EMIS Group said its pretax profit slipped despite a rise in revenue, primarily on one-off costs related to its technology transformation program and corporate transaction costs, though adjusted profit rose. --- Chaarat Gold Shares Tumble on Weak 1H Result, Capital Needs Woes Shares in Chaarat Gold Holdings dropped 17% after the company reported a widened pretax loss, and said it might not be able to continue operations if it doesn't get additional funding, or if the sale of its Kapan mine in Armenia doesn't close. --- Angle Shares Rise After 1H Revenue Jump, Narrowed Pretax Loss Angle shares rose after the group reported a jump in revenue for the first half of 2023 and narrowed pretax loss, and said it expects to deliver full-year revenue in line with market expectations. --- Byotrol Sees Lower-Than-Expected Revenue on Slow Europe Growth Byotrol's revenue is falling behind expectations due to slower growth in Europe and the effects of discontinuations of some legacy products, and the company expects to break even in fiscal 2024, it said Thursday. --- TIDMHHPD