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FTSE 100 Closes Up 0.6% Driven by Healthcare, Retail, Oil

The FTSE 100 closed 0.6% higher on Tuesday, driven by sectors such as healthcare, retail and oil. "European markets have enjoyed a much better session today, although the bias has been much more defensive in nature with healthcare stocks outperforming," Michael Hewson from CMC Markets said. Dechra Pharmaceuticals jumped 3.4%, AstraZeneca rose 1.7% and GlaxoSmithKline increased 1.3%. Retailers such as Next and JD Sports were also on the rise after the BRC published U.K. retail sales figures for December. In addition, shares in oil majors BP and Shell increased 1.8% and 1.6% respectively.

 
Companies News: 

Games Workshop 1H Pretax Profit Slipped; Revenue Rose

Games Workshop Group PLC said Tuesday that pretax profit for the first half of fiscal 2022 fell despite higher revenue.

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Darktrace Raises FY 2022 Expectations After Strong First Half

Darktrace PLC said Tuesday that it delivered significant growth over the first six months of fiscal 2022, leading it to increase its expectations for the full year.

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Electrocomponents Expects 4Q Challenges Due to Pandemic But Sees FY Profit Ahead of Views

Electrocomponents PLC said Tuesday that although it expects external challenges in the fourth quarter of fiscal 2022 to intensify due to the Omicron variant of the coronavirus, profit for the year is expected to be slightly ahead of consensus estimates.

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M.J. Gleeson 1H Homes Sold Slipped 2%, Remains Above Pre-Covid Levels

M.J. Gleeson PLC said Tuesday the number of homes it sold slipped slightly on-year in the first half of fiscal 2022 but remained above pre-coronavirus pandemic levels, and it expects to meet full-year market forecasts.

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UK Watchdog Could Accept Pennon's Undertakings to Clear Bristol Water Deal

The U.K. Competition and Markets Authority said Tuesday that it believes undertakings provided by Pennon Group PLC in relation to its completed acquisition of Bristol Water Holdings UK Ltd. may be enough to satisfy its concerns over the deal.

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SIG Sees 2021 Revenue Rose, Expects Swing to Underlying Profitability

SIG PLC said Tuesday that it expects to report its revenue rose and that it swung to an underlying operating profit in 2021, and it has strong momentum going into 2022.

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Shoe Zone Swung to Pretax Profit in FY 2021; Says Eligible to Reinstate Dividend

Shoe Zone PLC posted Tuesday a swing to a pretax profit for fiscal 2021, boosted by lower costs and increased online sales, and said that it is now eligible to reinstate dividend payouts.

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Franchise Brands 4Q Was Strong After Increased Sales at Metro Rod

Franchise Brands PLC said Tuesday that the strong trajectory it has experienced in 2021 continued in the fourth quarter, underpinned by significant growth at Metro Rod.

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Robert Walters 4Q Net Fee Income Rose

Robert Walters PLC said Tuesday that net fee income trends rose 39% on a constant-currency basis in the fourth quarter of 2021, and that its performance was now comfortably ahead of current profit expectations.

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Union Jack Oil's Wressle Interest Generates $2 Mln in Revenue Since Restart

Union Jack Oil PLC said Tuesday its interest in the Wressle hydrocarbon development has generated $2 million in revenue since the recommencement of production on Aug. 19.

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GSTechnologies Raises GBP1.3 Mln Toward Strategy

GSTechnologies Ltd. said Tuesday that it has raised 1.3 million pounds ($1.8 million) via a share placing and subscription and will use the money toward its strategy.

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Deltex Medical Group 2021 Revenue Fell Due to the Pandemic

Deltex Medical Group PLC said on Tuesday that revenue for 2021 fell due to the effects of the pandemic and the significant reduction in elective surgical procedures on a global scale.

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Rathbones Group Funds Under Management and Administration Rose 25% in 2021

Rathbones Group PLC said Tuesday that total funds under management at Dec. 31 were up 25% on year, boosted by continued net inflows and the acquisition of wealth manager Saunderson House.

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Unite Group Rooms Sold in Advance Rose; Expects Full Occupancy

Unite Group PLC said Tuesday that the number of rooms sold in advance for the coming academic year has risen, and it guided for full occupancy and rental growth.

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Pure Gold's Mine Output Rate Seen Slightly Lower After Covid-19 Outbreak

Pure Gold Mining Inc. said Tuesday that production is expected to continue at a slightly reduced rate at its PureGold Mine in Canada after an outbreak of Covid-19 among staff.

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Premier Miton Group Assets Under Management Flat for 1Q

Premier Miton Group PLC said on Tuesday that its assets under management in the first quarter of 2022 didn't change compared with the previous quarter, and that will launch a new fund.

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Deepverge Expects Widened 2021 Pretax Loss

Deepverge PLC said Tuesday that it expects to report a widened pretax loss for 2021, and that unaudited revenue rose in the year.

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Central Asia Metals Beat 2021 Copper Guidance; Unaffected by Kazakhstan Unrest

Central Asia Metals PLC said Tuesday that it has exceeded its 2021 copper guidance, and that it hasn't been affected by Kazakhstan's recent political unrest.

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Vitec Group Sees 2021 Adj Pretax Profit, Revenue in Line With Views

Vitec Group PLC said Tuesday that it expects 2021 adjusted pretax profit, revenue and net debt to be in line with market consensus, and that it entered 2022 with a record opening order book.

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Gresham Technologies Says 2021 Revenue, Adjusted Ebitda Rose Ahead of Views

Gresham Technologies PLC said Tuesday that it expects to report increased revenue and adjusted Ebitda for 2021, ahead of current market expectations.

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Diaceutics Appoints Nick Roberts CFO, 2021 Revenue rose 10%

Diaceutics PLC said on Tuesday that Nick Roberts has been appointed chief financial officer and director of the board, effective mid-March 2022, and that current CFO Philip White will step down to pursue new business opportunities.

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XP Power 2021 Revenue Rose; Sees Adjusted Profit Missing Views

XP Power Ltd. said Tuesday that it expects to miss market expectations for adjusted operating profit, but strong order intake momentum persisted throughout the fourth quarter and its 2021 revenue rose.

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SDI Group CFO to Step Down

SDI Group PLC said Tuesday that Chief Financial Officer Jon Abell has decided to step down.

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Bango Sees Increased 2021 Revenue, In-Line Adjusted Ebitda

Bango PLC said Tuesday that it expects to report revenue growth ahead of expectations for 2021 and that adjusted earnings before interest, taxes, depreciation and amortization should be in line.

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Knights Group Swung to Pretax Profit in 1H

Knights Group Holdings PLC said Tuesday that it swung to a pretax profit for the first half of fiscal 2022, and that revenue rose.

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Genel Energy CFO Esa Ikaheimonen to Step Down in March

Genel Energy PLC said Tuesday that Chief Financial Officer Esa Ikaheimonen intends to leave the company on March 16, the day after its 2021 financial results are announced.

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Electric Guitar Shares Rise in Stock Market Debut

Shares of Electric Guitar PLC rose 8.3% on Tuesday as it started trading on the London Stock Exchange implying a market capitalization of 1.9 million pounds ($2.6 million).

 
Market Talk: 

Flutter, Evolution Shares Gain After Citi Upgrades

1017 GMT - Flutter Entertainment shares rise 4% after Citigroup raised its recommendation on the bookmaker to buy from sell, citing U.S. market opportunities. Citi also upgrades Swedish gaming group Evolution to buy from neutral. Its shares rise 5%. "We're increasingly bullish on the size of the U.S. prize," Citi analysts say. "We now forecast a long-term Ebitda opportunity of $9.3 billion, double what we expected this time last year. Further, we expect Flutter and Entain's dominance to continue, while Evolution's product quality will drive its strong U.S. positioning." (philip.waller@wsj.com)

 

Croda International Shares Lack Drivers After Rally

1004 GMT - Croda International shares lack drivers after a strong run, says Citigroup, cutting its recommendation on the FTSE 100-listed chemical group to neutral and its target price to 9400 pence. Shares fall 0.4% to 8998p. "Astute acquisitions of Avanti and Iberchem solidified the focus on high-value life sciences and core competency consumer care and the market has rewarded the stock accordingly," Citi analyst Mubasher Chaudhry says. "Re-assessing the immediate outlook, we remain positive on the underlying business, but the next catalyst for share price is unclear to us." (philip.waller@wsj.com)

 

Sterling Gains on Rate-Rise Bets But Rally Could Lose Steam

1000 GMT - Sterling rises despite the U.K. spread of the Omicron coronavirus variant and post-Brexit issues as investors focus on the prospect of the Bank of England's raising interest rates further, Commerzbank says. The forex market hasn't considered Brexit a problem for some time and Omicron is expected to have a limited economic impact, meaning a BOE rate rise in February would be quite likely, Commerzbank's You-Na Park-Heger says. However, sterling's rally could soon "run out of steam" as rate-rise bets are probably largely priced in, she says. GBP/USD rises 0.3% to 1.3609 after hitting a two-month high of 1.3620 earlier, according to FactSet. EUR/GBP falls 0.1% to 0.8337, having earlier reached a 22-month low of 0.8331. (renae.dyer@wsj.com)

 

UK Retailers Gain as Sales Rise, But Growth Rate Slows

(MORE TO FOLLOW) Dow Jones Newswires

January 11, 2022 12:06 ET (17:06 GMT)

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