FTSE 100 Rises, Financial Stocks Gain Amid Upbeat Mood

0828 GMT - The FTSE 100 Index rises 1.2%, or 80 points to 6988 as financial stocks gain amid positive market sentiment. Hargreaves Lansdown is the top riser, up 6% after Jefferies upgrades the financial-services firm to hold from under-perform. Legal & General also advances 4% after it backed its guidance for full-year operating profit and capital generation. Prudential, Abrdn and St. James's Place are also among the financial sector's biggest risers. Oil shares make modest gains as the price of a barrel of Brent crude increases 0.5% to $89.32. "Risk-on sentiment has lifted global markets, with Asia rallying and momentum carrying forward to the European session," Interactive Investor Head of Investment Victoria Scholar writes. (philip.waller@wsj.com)

Companies News: 

Legal & General Backs 2022 Operating Profit; Capital Generation Despite Volatility

Legal & General Group PLC said Tuesday that it continues to benefit from positive momentum in the second half, despite the increased market volatility, and backed its guidance for the full-year operating profit and capital generation.


Greggs 3Q Sales Rose, Backs Full-Year Outlook

Greggs PLC said Tuesday that sales for the third quarter of the year rose 15% compared with the same period of 2021, and backed its expectations for the full-year.


Morses Club Chairman to Step Down

Morses Club PLC said Tuesday that Chairman Nigel Knowles will step down, effective Nov. 4.


Watkin Jones Expects to Miss FY 2022 Market Views on Delayed Sales

Watkin Jones PLC said Tuesday that it expects to have missed market views for fiscal 2022 operating profit due to a delay in two sales, though its second-half performance was better than the first.


Gresham Technologies Sees 2022 Revenue Ahead of Market Views

Gresham Technologies PLC said Tuesday that it expects revenue and earnings to be ahead of market expectations for 2022, and committed renewals to boost revenue in 2023.


Made.com In Sale Discussions; Profitability Strategy Needs GBP45 Mln-GBP70 Mln

Made.com Group PLC said Tuesday that it has begun discussions with a number of parties regarding the group's sale.


Porvair Sees FY 2022 Ahead of Market Views After Strong Start to 4Q

Porvair PLC said Tuesday that it had a strong start to the fourth quarter and that it expects results for the year ending Nov. 30 to be ahead of market expectations.


Character Group Sees FY 2022 Meeting Market Views; Expects FY 2023 Slip

Character Group PLC said Tuesday that it expects fiscal 2022 to meet market expectations as sales momentum persisted, but sees fiscal 2023 slipping on macroeconomic headwinds.


Inspiration Healthcare 1H Pretax Profit Fell on Supply-Chain Issues

Inspiration Healthcare Group PLC said Tuesday that pretax profit for the first half of fiscal 2022 fell amid higher costs and supply-chain issues.


Uniphar Acquires US Healthcare Agency Inspired Health

Uniphar PLC said Tuesday that it has acquired the U.S.-based healthcare agency Inspired Health for an undisclosed sum.


MGC Pharmaceuticals Appoints Yifat Steuer COO, Deputy CEO

MGC Pharmaceuticals Ltd. said Tuesday that Yifat Steuer has been appointed chief operating officer and deputy chief executive officer, and that Brett Mitchell's role as chairman has transitioned from an executive to a nonexecutive position.

Markewt Talk: 

Legal & General's Update Seen as Reassuring

0817 GMT - Legal & General published an unscheduled 3Q update providing reassuring comments about the impact of volatile markets on its businesses, despite share price movement in recent weeks, RBC analyst Mandeep Jagpal says in a research note. A key update was the insurance company's asset management business having a balance sheet with no exposure to current volatility, the analyst says. L&G also reiterated its 2022 outlook, a welcoming confirmation that the group is sticking to its guided growth, Jagpal adds. RBC has an outperform rating on the stock and a price target of 310 pence. Shares rise 4.8% to 232.6 pence. (michael.susin@wsj.com)


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

(END) Dow Jones Newswires

October 04, 2022 04:44 ET (08:44 GMT)

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