UKX FTSE 100 Index

London's blue chip index ended the day flat on Thursday, underperforming its European peers after an initial modest pullback on the previous session's gains. The FTSE 100 closed slightly up, by 0.027%, finishing at 7,529.73 points. Its worst performer was St. James's Place after the wealth manager reported slower inflows, while asset manager Intermediate Capital Group was its top riser on a better-than-expected quarterly print. The U.S.'s fourth-quarter GDP print helped boost equipment-rental provider Ashtead Group, which is exposed to the market, while the energy sector--including BP and Shell's stocks--was lifted by firmer oil prices after U.S. inventories came in below expectations, CMC Markets analyst Michael Hewson writes in a market comment.

COMPANIES NEWS:

RS Group Like-for-like Revenue Declines on Weaker-Than-Expected Markets

RS Group said its third-quarter revenue declined on a like-for-like basis on weak industrial sentiment and slower unwinding of customer surplus inventories, particularly in electronics.

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Haleon Agrees to Sell ChapStick Brand for Up to $510 Mln

Haleon said that it has agreed to sell ChapStick lip-care brand to Suave Brands Co. for up to $510 million as it seeks to divest from non-core assets and reduce debt.

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Intermediate Capital Group's Total Assets Under Management Rose

Intermediate Capital Group said its total assets under management rose, and that it reached its fundraising target two months ahead of time.

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St. James's Place Funds Under Management Rose, Beating Consensus

St. James's Place said funds under management at the end of 2023 rose, beating consensus, and client capacity and confidence to commit to long-term investment had been affected by the economic environment.

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Foxtons Group's Revenue, Adjusted Profit Beat Market Views

Foxtons Group said revenue and adjusted operating profit were slightly ahead of market expectations, as its operational turnaround continues to drive growth.

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Britvic Sees Growth for Year Within Market Ranges after Strong Start

Britvic said group revenue rose 8.1% over the first quarter of fiscal 2024 and that it is confident to achieve growth for the year within the range of market expectations.

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Dr. Martens Posts In-Line Revenue Fall On Weak Christmas Performance

Dr. Martens said that third-quarter revenue fell in line with expectations driven by a weak performance in the U.S., and that its guidance for fiscal 2024 remains unchanged.

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Fuller Smith & Turner Sales Grow, Reports Strong Christmas Period

Fuller Smith & Turner said has delivered like-for-like sales growth in the fiscal year to date, with particularly strong sales over the five week Christmas and New Year period.

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Wizz Air Swings to Pretax Loss on Higher Costs; Backs Guidance

Wizz Air said it swung to a pretax loss for the third quarter after booking higher costs, and backed its fiscal-year guidance after seeing a positive performance at the start of the fourth quarter.

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Capricorn Energy Misses Production Target; Flags Lower Drilling Activity

Capricorn Energy said it produced less oil and gas in 2023 than the prior year, missing its target.

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Fevertree Backs Guidance After U.S. Growth

Fevertree Drinks said Ebitda doubled in the second half of 2023 and backed its guidance for the year after strong growth in the U.S.

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Halfords Backs Profit Guidance Despite Weaker-Than-Expected Sales

Halfords backed its profit guidance for fiscal 2024 despite weaker-than-expected sales in the third quarter, supported by better-than-expected cost savings.

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Mitie Group's Revenue Rose; Backs Profit Guidance

Mitie Group said its revenue rose and reiterated its full-year operating profit guidance.

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NCC Group Swings to Pretax Loss After In-Line Performance

NCC Group said it swung to a pretax loss in the first half of fiscal 2024, partly driven by dragging revenue from its technical assurance services, but said it revenue and profitability was in line with expectations.

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IG Group Profit Drops on Soft Market Conditions, Backs Margin Views

IG Group Holdings reported a fall in profit during the first half driven by a soft market backdrop, but backed its margin target for fiscal 2024.

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Keywords Studios Revenue Rises, Expects Strong Growth in Year Ahead

Keywords Studios said revenue last year rose, and that it expects to report strong revenue and profit growth for 2024.

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Workspace Group Rent Rose and Demand Remains Resilient; CEO to Retire

Workspace Group said its like-for-like rent roll rose and customer demand remained resilient, and that Chief Executive Officer Graham Clemett intends to retire in 2024.

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Mortgage Advice Bureau Expects Profit to Beat Views; Flags Improving Market Trends

Mortgage Advice Bureau said it expects to book slightly higher adjusted pretax profit than the current market consensus expects for 2023, and flagged improving market conditions ahead.

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PPHE Hotel Group Expects to Beat Revenue, Earnings Guidance

PPHE Hotel Group said it expects to exceed previously upgraded guidance and that it was optimistic heading into the new year.

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Treatt's Revenue Fell as Expected; Flags Improving Demand

Treatt said its revenue fell as anticipated in the first quarter of fiscal 2024, but that trading conditions are improving.

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Secure Trust Bank Names Jim Brown Chairman; Net Lending Rises

Secure Trust Bank said it appointed Jim Brown as chairman, and that net lending rose in the fourth quarter, when all of its specialist lending businesses delivered record levels of new lending.

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Greencore Sees Operating Profit in Line With Views Despite Revenue Drop

Greencore said revenue for the first fiscal quarter fell, reflecting the disposal of its Trilby Trading business, and that it expects operating profit to be in line with market expectations.

MARKET TALK:

Fevertree Drinks Has Long-Term Sparkle Despite Hurdles

1516 GMT - Fevertree Drinks's longer-term outlook is bright despite a downbeat trading statement, Panmure Gordon says. The end-of-year update was disappointing, with 2023 revenue below guidance and adjusted EBITDA at the bottom of the guided range, Panmure says. Still, the company looks well-placed to gain further market share, margins are expected to start recovering this year and its lackluster share price makes it an attractive acquisition target, the brokerage says. "Despite this update, we still believe there are plenty of long-term opportunities available to Fevertree," Panmure analysts say in a note. The brokerage keeps its buy recommendation, but cuts its target price to 1560 pence from 1725p. Shares rise 5% to 1061p. (philip.waller@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

January 25, 2024 12:20 ET (17:20 GMT)

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