Skip to Content
Global News Select

FTSE 100 Closes Down as Russia-Ukraine Talks Fail to Reach Agreement

The FTSE 100 closed down 1.3% on Thursday after peace talks in Turkey between Ukraine and Russia's foreign ministers failed to reach an agreement, CMC Markets UK says. Evraz shares have fallen back after the U.K. government said it was sanctioning Chelsea Football Club owner Roman Abramovich, with Polymetal also falling, it says. Elsewhere, Balfour Beatty shares rebounded, having earlier this week hit 15-month lows, after it reported expectation-beating full-year underlying operating profits of GBP197 million, CMC Markets UK says.

 
Companies News: 

DS Smith Had Like-for-Like 3Q Volume Growth Despite Higher Costs

DS Smith PLC said Thursday that it continued to benefit from like-for-like volume growth in the third quarter of fiscal 2022 despite increasing input costs and that its expectations for the financial year remain unchanged.

---

Boohoo Group Expects FY 2022 Adj Ebitda in Line With Market Views

Boohoo Group PLC said Thursday that it expects adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2022 to be in line with market expectations.

---

Capita PLC Swung to 2021 Pretax Profit, Sees Lower Profits in 2022

Capita PLC reported on Thursday a swing to pretax profit in 2021, backed by stable revenue and cost savings that offset contract losses and general cost increases, but said it expects 2022 profit margins to narrow.

---

ITV Appoints Kingfisher's Andrew Cosslett as Its New Chairman

ITV PLC said Thursday that it has appointed Kingfisher PLC's Andrew Cosslett as its new chairman starting September, replacing Peter Bazalgette who is stepping down from the role after six years.

---

Spirax-Sarco Engineering 2021 Pretax Profit, Revenue Rose

Spirax-Sarco Engineering PLC said Thursday that pretax profit increased 31% in 2021 on higher revenue, and it expects further sales growth in 2022.

---

Northbridge Industrial Services to Resume Dividends

Northbridge Industrial Services PLC said Thursday that it will reinstate dividends and that the positive start to 2022 has continued.

---

Savills 2021 Pretax Profit More Than Doubled on Pandemic Recovery

Savills PLC said Thursday that 2021 pretax profit more than doubled, driven by a significant recovery from the coronavirus pandemic.

---

Brooks Macdonald's Funds Under Management Increased in 1H

Brooks Macdonald Group PLC reported on Thursday a decline in pretax profit for the first half of fiscal 2022 and a rise in funds under management, as it swung to positive net flows on improved client retention.

---

Purplebricks CEO to Step Down; COO Named Successor

Purplebricks Group PLC said Thursday that Chief Executive Vic Darvey will step down at the end of March, and that Chief Operating Officer Helena Marston will assume the CEO role effective April 4.

---

Just Group Swung to 2021 Pretax Loss on Portfolio Sale; Resumes Dividend

Just Group PLC on Friday reported a swing to pretax loss in 2021 due to economic losses related to the sale of its portfolio, but announced new guidance and resumed its dividend payout.

 
Market Talk: 

Spirax-Sarco Has Long-Term Grow Potential, But Risks Remain

1026 GMT - Spirax-Sarco has the opportunity long-term to continue gaining market share and grow ahead of peers, but the risks the company faces may be greater than the market perceives, Shore Capital says. The steam-engineering company generates around half of its revenue from small GBP1,000 to GBP2,000 tasks, but its growth is still largely dependent on increased industrial production. Near-term forecasts indicate industrial-production positivity, but there is still a degree of uncertainty, Shore says. "Additionally, the group's average order book is seven weeks, so there is very limited visibility," the U.K. investment group says, retaining its hold recommendation on the stock. Shares are up 1.9% at 11,545 pence. (joseph.hoppe@wsj.com)

Boohoo Jumps as Trading Update Boosts Market Confidence

0952 GMT - Shares in Boohoo Group jump 13% after the online fashion retailer reported higher fourth-quarter sales and forecast full-year earnings in line with market expectations. "The market's very positive reaction to what is, on the face of it, simply an update stating how guidance will be hit shows the level of uncertainty surrounding Boohoo," Hargreaves Lansdown says. "Back in December, guidance was lowered by a pretty decent chunk, with the group pointing to everything from higher freight costs to Omicron concerns. Re-basing guidance is rarely a good thing, but the positives from this update are that they look to have stabilized, which will help instil more confidence from markets." (philip.waller@wsj.com)

Just Group's Growth Prospects Look Sustainable

0933 GMT - Just Group 2021 results shows that the company has reached a level of sustainable growth, RBC Capital Markets says. The provider of retirement-income products has delivered its results mainly in line with expectations, but also reinstated a dividend and announced underlying operating profit medium-term guidance for growth of 15% per year, it adds. "The statement of the ambitious target should act to improve investor confidence in Just Group's growth prospects over at least the next 3-5 years,", the Canadian bank says. RBC Capital Market has a outperform rating on the stock and a price target of 160 pence. Shares are up 0.8% at 84.45 pence. (michael.susin@wsj.com)

 

Contact: London NewsPlus; paul.larkins@wsj.com

 

(END) Dow Jones Newswires

March 10, 2022 13:11 ET (18:11 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.