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FTSE 100 to Edge Lower After US Drop; Asia Gains

FTSE 100 Set to Edge Lower After US Drop; Asia Gains

The FTSE 100 is expected to fall six points to 7010, according to CMC Markets, after a lower close on Wall Street, though Asia markets traded higher. The Dow Jones closed 0.4% adrift, while stocks in mainland China, Hong Kong and Japan all rise. "Markets in Asia rebounded strongly on reports that Chinese regulators told firms [that] Chinese firms would be allowed to list in the U.S. as long as they met listing requirements," CMC's Michael Hewson says. "The rebound in Asia doesn't appear to be translating into a rebound in Europe, with shares here set to open slightly lower."

Companies News: 

Telefonica Buys Britain's Cancom for GBP340 Mln Enterprise Value

Telefonica SA said Thursday that it is buying Cancom Ltd. for an enterprise value of 340 million pounds ($472.7 million) as part of its consolidation strategy in the U.K.


Shell 2Q Net Profit Fell QoQ, Launches $2 Bln Buyback

Royal Dutch Shell PLC on Thursday reported that its net profit fell in the second quarter from the immediately prior period, and launched a $2.0 billion buyback.


Lloyds Second-Quarter Pretax Profit Rose Ahead of Views

Lloyds Banking Group PLC reported Thursday a rise in pretax profit for the second quarter of 2021, surpassing market expectations, after releasing more impairments amid an economic recovery.


Schroders 1H Pretax Profit Rose; Assets Under Management Reached Record High

Schroders PLC on Thursday reported a significant increase in pretax profit for the first half of the year and said that it reached record assets under management during the period.


Anglo American to Boost Shareholder Returns After 1H Profit Soared

Anglo American PLC on Thursday reported a significantly higher profit for the first half of the year, and said it will return $4.1 billion to shareholders via dividends and share buybacks.


Segro 1H Pretax Profit, Revenue Rose; Declares Increased Dividend

Segro PLC on Thursday reported a significant rise in first-half pretax profit, together with revenue, and raised its dividend.


Weir Group 1H Pretax Profit Rose, Resumes Dividends

Weir Group PLC said Thursday that its first-half pretax profit rose and resumed its interim dividend.


BAE Systems 1H Pretax Profit Rose, Launches Buyback Program

BAE Systems PLC said Thursday that its pretax profit rose for the first half as revenue rose, and that it was launching a buyback program of up to 500 million pounds ($695.1 million).


RELX 1H Net Profit Rose; Sees Full-Year Growth Above Historical Trends

RELX PLC said Thursday that first-half net profit rose and that it expects revenue and adjusted earnings growth for the full year to be above historical trends.


Diageo FY 2021 Profit, Revenue Rose

Diageo PLC reported Thursday a rise in pretax profit for fiscal 2021 on higher net sales.


AstraZeneca 2Q Net Profit Dropped Despite Higher Revenue; Raises Guidance

AstraZeneca PLC said Thursday that net profit declined on-year in the second quarter, though total revenue increased, and raised its core earnings-per-share guidance for 2021.


BT Group 1Q Pretax Profit Fell; Backs FY 2022 Guidance

BT Group PLC said Thursday that pretax profit for the first quarter of fiscal 2022 fell on the back of lower revenue and it reiterated guidance for the full year.


Rentokil Initial 1H Profit Soared Amid Rising Revenue

Rentokil Initial PLC reported Thursday a more-than-doubled pretax profit for the first half of the year on higher revenue and said results were slightly ahead of its expectations.


Dr. Martens 1Q Revenue Rose Materially, Ahead of Pre-Pandemic Levels

Dr. Martens PLC said Thursday that revenue rose significantly during the first quarter of fiscal 2022, even when compared with pre-pandemic levels, thanks to continued growth in online sales and the reopening of stores.


Informa Raises 2021 Revenue Guidance; 1H Pretax Loss Narrowed

Informa PLC on Thursday raised its revenue guidance for 2021 as it reported a narrowed pretax loss for the first half after coronavirus-related restrictions continued to held back its events operations.


Smith & Nephew Swung to 1H Pretax Profit; Backs Guidance

Smith & Nephew PLC said Thursday that it swung to pretax profit for the first half of the year as revenue rose, and backed its guidance for the year.


Lloyds 2Q Pretax Profit Rose Ahead of Views, Buys Embark Group for GBP390 Mln -- Update

Lloyds Banking Group PLC on Thursday reported a rise in pretax profit for the second quarter of 2021, beating market expectations, and said that it is buying the investment and retirement platform business Embark Group.


Foxtons Swung to 1H Pretax Profit; Declares Dividend, Buyback Program

Foxtons Group PLC said Thursday that it swung to a pretax profit for the first half of the year on rising revenue, reinstated dividends and declared a share buyback program.

Market Talk: 

Rio Tinto's 360 Mln Ton Iron-Ore Target Seems to Be Fading

Rio Tinto has refused to be pinned down on Australian iron-ore capacity after the ramp up of its Gudai-Darri project in Western Australia, but earlier long-run targets of 360 million tons a year seem "to be a fading memory," Citi says. Citi is tipping Pilbara output of 340 million tons in 2022, followed by 345 million in 2023 and 348 million in 2024. "And with Simandou seemingly still some way off, seaborne iron-ore supply increases will likely continue to under perform market estimates," Citi says.


Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

July 29, 2021 03:04 ET (07:04 GMT)

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