FTSE 100 Drops as Tesco, Property, Financials Fall
05 Ottobre 2022 - 11:28AM
Dow Jones News
FTSE 100 Drops as Tesco, Property, Financials Fall
0827 GMT - The FTSE 100 Index drops 1%, or 73 points to 7013
amid broad-based losses, despite an earlier positive reaction to
first-half results from Tesco. Tesco sheds early gains, falling 2%
after the U.K. grocer reported lower 1H pretax profit, but
maintained its full-year profit guidance, albeit at the lower end
of the forecast range. Tesco rivals Sainsbury's, Ocado Group and
Marks & Spencer fall and property and financial stocks also
retreat. "European markets have opened lower after yesterday's
surge, with construction and autos leading the declines while all
sectors post losses," Interactive Investor Head of Investment
Victoria Scholar writes. (philip.waller@wsj.com)
Companies News:
Tesco 1H Pretax Profit Fell on Increased Costs; Backs FY 2023
Guidance
Tesco PLC said Wednesday that its pretax profit fell in the
first half of fiscal 2023 on increased costs, and it backed its
guidance for the full year despite post-coronavirus market
normalization and customer cost-of-living increases.
---
Vertu Motors Launches GBP3 Mln Share Buyback
Vertu Motors PLC said Wednesday that it has agreed a further 3
million pounds ($3.4 million) share buyback.
---
Assura Portfolio Performed Well in 1H; Annualized Rent Rose
Assura PLC said Wednesday that it has performed well in
developing its portfolio in the first half of fiscal 2023, with its
annualized rent toll rising on year.
---
Hyve Group Says China Uncertainty to Continue; Expects Revenue
Rise for FY 2022
Hyve Group PLC said Wednesday that it expects the uncertainty
around running events in China to continue in fiscal 2023 due to
the Covid-19 pandemic, and that it expects to report a rise in
revenue for fiscal 2022.
---
PCF Group Suspends New Lending, Accelerates Business Review
PCF Group PLC said Wednesday that it will suspend any new PCF
Bank lending activities until further notice, effective
immediately, and accelerate a review process of its operational
structure.
---
LondonMetric Property Says 1H Occupancy Remained High
LondonMetric Property PLC said Wednesday that occupancy has
remained high in the first half of fiscal 2022 and it is operating
with a low earnings from operational activities cost ratio.
---
Vertu Motors 1H Pretax Profit Fell on Higher Costs; FY 2023
Profits Seen Ahead of Views
Vertu Motors PLC said Wednesday that pretax profit fell in the
first half of fiscal 2023 after booking higher costs, and that the
board anticipates full-year profits to be ahead of market
expectations.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 05, 2022 05:13 ET (09:13 GMT)
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