The FTSE 100 closed down 0.5% on Tuesday after the latest U.S.
jobs data prompted another spike in yields. "We've had another day
where rising U.S. yields have continued to exert downward pressure
on stock markets," CMC Markets' chief analyst Michael Hewson says
in a market comment. The London blue-chip index slipped to a
three-week low over growth and interest rate concerns, while
speculation abounds that the Bank of Japan intervened to push the
dollar vs yen back below 150.000 after U.S. yields pushed higher on
the August jobs numbers, Hewson says. It closed down 7,470.16
points.
COMPANIES NEWS:
DX (Group) Sees First Quarter In Line With Views After FY 2023
Pretax Profit Rose
DX (Group) posted a rise in its pretax profit for fiscal 2023
and said performance for the first quarter of fiscal 2024 was in
line with its expectations.
---
AstraZeneca Pays $425 Mln to Settle Nexium and Prilosec
Liability Litigation
AstraZeneca has agreed to settle product liability litigations
related to Nexium and Prilosec in the U.S. by making a payment of
$425 million, it said.
---
Distribution Finance Capital Loan Book Rises Ahead of
Expectations
Distribution Finance Capital Holdings said its loan book
exceeded seasonal expectations in the third quarter of 2023 and
that the group expects to continue to perform in line with the
board's expectations.
---
Character Group Sees FY 2023 Performance Meeting Market
Expectations
Character Group expects to report a strong performance for the
year ended August 31, in line with management predictions.
---
Greggs Backs 2023 Views After 3Q Sales Rose on More Evening
Customer Footfall
Greggs backed its full-year expectations after a robust
third-quarter performance that was boosted by higher customer
footfall in the evening, and its app-based loyalty program.
---
S&U Pretax Profit Rises on Higher Revenue at Both Its
Businesses
S&U said pretax profit rose for the first half of fiscal
2024 as revenue at its two businesses increased, and that its
credit quality and collections remained robust despite
cost-of-living and regulatory pressures.
---
Airea Names Conleth Campbell as New CFO
Airea said it has appointed Conleth Campbell as chief financial
officer, effective as of Monday.
---
Mears Launches New Buyback Program of Up to GBP15 Mln
Mears Group said it has launched a new share buyback program of
up to 15 million pounds ($18.1 million) as it has continues to
experience positive momentum since the release of its interim
results in August.
---
Gooch & Housego Sees FY 2023 Adjusted Pretax Profit Beating
Views
Gooch & Housego expects full-year adjusted pretax profit to
come in above market views, as its business momentum continued into
the second half and resulted in a strong revenue performance.
---
Pressure Technologies Revenue Grows on Increased Order
Intake
Pressure Technologies reported a swing to adjusted Ebitda profit
as revenue grew and order intakes increased.
---
Boohoo Cuts Revenue Views on Slower Volume Recovery
Boohoo Group has downgraded its fiscal 2024 revenue targets on
slower-than-expected sales volume recovery, and reported a widened
pretax loss for the first half.
---
Tortilla Mexican Grill Backs 2023 Views on Resilient
Performance
Tortilla Mexican Grill said it expects 2023 earnings to be in
line with expectations on the back of cost control, initiatives to
improve evening footfall and a resilient first-half
performance.
---
Ascent Resources Shares Rise After GBP1.5 Mln Premium Share
Subscription
Ascent Resources shares rose after investment company MBD
Partners subscribed for 1.5 million pounds ($1.8 million) in new
shares in the company.
---
BiVictriX Therapeutics Names Adrian Howd as New CFO, Chief
Business Officer
BiVictriX Therapeutics has appointed Adrian Howd as both chief
financial officer and chief business officer, with current CFO Alex
Hughes stepping down on Oct. 13.
---
PCI-PAL Shares Fall on Results Delay
Shares in PCI-PAL fell after it said that publishing of its
results for fiscal 2023 is expected in late October or early
November.
---
Inspiration Healthcare Group Swings to Pretax Loss on Higher
Financial Costs
Inspiration Healthcare Group reported a swing to pretax loss for
the first half as financial costs increased due to higher interest
rates and higher net debt.
---
Angus Energy's Saltfleetby Gas-Field Production Rose in 3Q
Angus Energy said production from its U.K. onshore gas field
rose in the third quarter compared to the second.
---
Nexus Infrastructure Sees Underlying Revenue, Operating Loss
Worse Than Views
Nexus Infrastructure said that underlying revenue and operating
loss for fiscal 2023 will be worse than the board's
expectations.
---
RHI Magnesita Buys P-D Refractories for EUR45 Million
RHI Magnesita said it has bought P-D Refractories, the Germany,
Czech Republic and Slovenia-based refractory businesses of the
Preiss-Daimler Group, for around 45 million euros ($47.1
million).
---
Microsalt Expected to Float on London's AIM in October
Microsalt has applied to London's Alternative Investment Market
and is expected to start trading on Oct. 18.
---
Tintra Shares Surge on Trading Resumption
Shares in Tintra soared 48% after trading in the company's
shares was restored on the AIM, following yesterday's publication
of its financial report for fiscal 2023, the AI-focused fintech
company said Tuesday.
---
Safestyle Shares Plunge as It Says It Remains In Discussions for
Funding
Safestyle UK shares fell after it said it is continuing to
engage with both existing stakeholders and other interested third
parties to find ways to strengthen its balance sheet.
MARKET TALK:
European Stocks Are Mixed After Asia Losses
1115 GMT - European stocks are mixed on Tuesday after downbeat
trading in Asia and ahead of an expected slightly lower U.S. open.
The Stoxx Europe 600 and CAC 40 drop 0.2%, the DAX falls 0.3% and
the FTSE 100 gains 0.3%. Brent crude retreats 0.7% to $90.10 a
barrel. IG futures data show the Dow opening at 33422, versus
Monday's close of 33433. Australian and Japanese markets fell more
than 1% and Hong Kong's Hang Seng backtracked more than 2%. "FX
[foreign exchange] markets are on intervention watch following more
comments from officials in Japan about the weakness of the yen," IG
analysts say. "Today sees the monthly U.S. job opening figures as a
warm-up to the ADP [report] and non-farm payroll figures later in
the week." (philip.waller@wsj.com)
---
S&U Well Positioned to Exploit Improving Conditions Once
Headwinds Change
1108 GMT - Although S&U's 1H pretax profit rose 2.4% to
GBP21.4 million, including income growth of 11.9% to GBP55.3
million, external headwinds such as higher interest rates,
regulation developments or cost-of-living pressures are reducing
short-term opportunities, Peel Hunt analysts say in a note. The
specialist motor-finance and bridging lender saw steady growth in
difficult markets with loans up 2% as competitive pressures remain
and underwriting was tight, the analysts say. "S&U continues to
grow despite a challenging external environment and we believe it
is strongly positioned toexploit improving conditions when
headwinds abate," the analysts say. Peel Hunt rates the stock buy
and has a 3,150 pence target price. Shares are up 1.1% at 2,270
pence. (anthony.orunagoriainoff@dowjones.com)
---
Horizonte Minerals' Valuation Is Hurt by Capital Expenditure
Hike
1049 GMT - Horizonte Minerals' increased capital expenditure for
its Araguaia nickel project significantly hurts its overall
valuation, Canaccord Genuity analysts Tim Huff and Alex Bedwany
write in a research note. The London-listed nickel developer
estimates a 35% increase to capex requirements for the Brazilian
project, which implies a lift to at least $725 million from $537
million. "We would expect Horizonte Minerals to try to find an
equity solution including at least $150 million of additional
funds, backed by its strategic partners, in order to plug the
funding gap in early 2024," they say. Canaccord cut its price
target on the stock to 90 pence from 190 pence, while keeping a
speculative buy rating. Shares are down 34% at 33.25 pence.
(christian.moess@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
October 03, 2023 13:11 ET (17:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Grafico Indice FTSE 100
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