AstraZeneca Gains After Breast-Cancer Drug Progress
0845 GMT - Shares in AstraZeneca top the FTSE 100 risers, up 2.7% after the drug company reported further success in trials of a cancer drug. AstraZeneca said Enhertu significantly delayed metastatic breast-cancer progression in a Phase 3 trial, reinforcing the results of a previous study. "Pharmaceutical shares were marked sharply higher in early exchanges following an announcement from AstraZeneca regarding the trial success of its breast-cancer drug, Enhertu," Interactive Investor Head of Markets Richard Hunter writes. "The news had a positive read-across to the rest of the sector in underlining the potential strides the major pharmaceutical companies are now making." (firstname.lastname@example.org)
Treatt Lowers FY 2022 Pretax Profit Guidance Amid Inflation, Weaker US Consumer Sentiment
Treatt PLC said Monday that it is lowering its adjusted pretax profit guidance for fiscal 2022 after being hurt by a number of factors including lower consumer confidence in the U.S. and cost inflation.
Echo Energy Raises GBP600,000 via Share Placing
Echo Energy PLC said Monday that it has now raised 600,000 pounds ($728,280) via the share placing announced on Friday.
Phoenix Group on Track to Achieve Top End of 2022 Cash-Generation Target
Phoenix Group Holdings PLC said Monday that first-half operating profit remained at a similar level on a year-on-year basis and that it is on track to meet the top end of its full-year cash generation target.
Safestay Swung to 2021 Pretax Profit After Lifting of Covid-19 Restrictions
Safestay PLC said Monday that it swung to a pretax profit for 2021 after Covid-19-related restrictions were lifted.
TP Group 2021 Pretax Loss Widened on Higher Costs; Refinancing Process to Start in 2H
TP Group PLC said Monday that its 2021 pretax loss widened on higher costs, and that the board will start a group refinancing process in the second half of 2022 and will consider both debt and equity options.
Inspiration Healthcare 1H Performance Robust on Strong Order Book
Inspiration Healthcare Group PLC said in an update Monday that performance has remained robust and consistent with management expectations for the six months ended July 31.
Eckoh PLC 1Q Orders Were Substantially Higher on Year
Eckoh PLC said Monday that orders for the first quarter of the current fiscal year were substantially higher than the same period a year earlier and that it expects to report a significantly higher level for the half year.
Gusbourne 1H Revenue More Than Doubled as Sales Recovered From Pandemic
Gusbourne PLC said Monday that revenue for the first six months of 2022 more than doubled, driven by a recovery in sales from pandemic effects.
Seeing Machines Sees in-Line FY 2022 Revenue on Accelerated Growth Momentum
Seeing Machines Ltd. said in a performance update Monday that it foresees reporting revenue in line with expectations for fiscal 2022 after growth momentum accelerated.
Joules New CEO Might Face a Difficult Task Amid Squeezed Budgets
0906 GMT - The new CEO of Joules, Jonathon Brown, will face a difficult task ahead given the inflationary backdrop and the squeezed household budgets, AJ Bell's financial analyst Danni Hewson. The U.K. lifestyle brand is facing the challenge of being in the middle of this pressure, neither serving wealthy customers--which could expend on luxury brands--nor offering bargains that could attract lower income clients, Hewson says. (email@example.com)
UK Housing Market Starting to Slow But Shares Don't Budge
0845 GMT - The U.K. property market is starting to show signs of softening, as Rightmove's latest survey indicates house prices slipped in August, AJ Bell says. It feels like a long-overdue return to Earth given the macroeconomic backdrop, yet shares in house builders barely budged on the news, indicating the market might have already factored in a slowdown, AJ Bell financial analyst Danni Hewson says in a research note. "However, strong selling prices have been the one thing insulating the sector from rising costs so it will be worth keeping tabs on future trading updates to see if margins are coming under pressure," the U.K. brokerage says. Shares in Barratt Developments, Persimmon and Taylor Wimpey are down 0.8%, 0.5% and 0.4% respectively. (firstname.lastname@example.org)
Phoenix Group's 1H Performance Seen as Solid With No Surprises
0848 GMT - Phoenix Group's overall solid print in 1H came without surprises and therefore investors' focus might switch toward an organic dividend increase and the M&A pipeline, Citi analyst Andrew Baker says in a research note. The European life insurer reported a cash generation 37% above market consensus and seems to be well set for an organic dividend increase, Baker says. "Phoenix shares are up 7% year-to-day outperforming the broader insurance sector by around 9 percentage points," he says. The U.S. bank has a neutral recommendation on the stock and a target price of 618.0 pence. (email@example.com)
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(END) Dow Jones Newswires
August 15, 2022 05:29 ET (09:29 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.