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Market News: 
 
FTSE 100          7,289.99   -1.44 -0.02% 
FTSE 250         19,774.92 -144.15 -0.72% 
FTSE AIM All-Share  874.69   -6.41 -0.73% 

The FTSE 100 closed down 1.44, or 0.02%, at 7,289.99 on Wednesday. London-listed shares of travel company TUI AG led the fallers, declining 3.4% to 927 pence a share, while British American Tobacco PLC led the gainers and closed up 3.3% at 2,924.50 pence.

 
Top News: 

Sainsbury 2Q FY 2020 Total Sales Up 0.1%; Full Year In Line With Views

J Sainsbury PLC (SBRY.LN) said Wednesday that total sales, excluding fuel, rose 0.1% in the second quarter of fiscal 2020, benefiting from stronger trading across its grocery, general merchandise and clothing segments.

 
Companies News: 

1PM FY 2019 Pretax Profit Rises Slightly; 50% of FY 2020 Revenue Secured

Finance provider 1pm PLC (OPM.LN) on Wednesday reported a slightly increased pretax profit for fiscal 2019 as it benefited from recent acquisitions, but said it expects to book higher one-off costs next year as the board rebrands the company for future growth.

7digital Group to Raise Minimum GBP150,000 via Share Placing

7digital Group PLC (7DIG.LN) said Wednesday that it plans to raise a minimum of 150,000 pounds ($186,795) via a share placing, which will be used towards its streamlined product and organizational strategy.

Alexander Mining to Sell MetaLeach Subsidiary, Become Cash Shell

Alexander Mining PLC (AXM.LN) said Wednesday that it plans to sell its MetaLeach mineral-processing technology subsidiary and become a cash shell under the rules of London's junior AIM market.

Aston Martin Tumbles as Pricey $150 Million Bond Sale Gives Investors License to Sell

Aston Martin's struggling stock has tumbled lower after the luxury car maker raised $150 million in expensive debt.

Babcock International Backs FY 2020 Guidance After in Line 1H

Babcock International Group PLC (BAB.LN) on Wednesday reaffirmed guidance for revenue, operating profit and free cash flow for fiscal 2020 after a first-half performance in line with expectations.

Boohoo 1H FY 2020 Pretax Profit Up 84%; Backs Full Year Guidance

Boohoo Group PLC (BOO.LN) said Wednesday that pretax profit rose 84% in the first half of fiscal 2020 benefiting from strong revenue growth across its brands and geographies.

Carclo to Complete FY 2019 Accounts in Coming Weeks; Reshuffles Management

Carclo PLC (CAR.LN) said Wednesday that preparation and auditing of its fiscal 2019 is expected to be completed in the coming weeks, and said it is reshuffling its management team.

Coral Products Sees Sales, Profits Below Views in First Four Months of FY 2020

Coral Products PLC (CRU.LN) shares tumbled in early trading Wednesday after the company warned that sales and profits were below management's expectations in the first four months of fiscal 2020.

PZ Cussons Fiscal 2020 Results Seen Flat On Prior Year

PZ Cussons PLC (PZC.LN) said Wednesday that it expects flat full year results in fiscal 2020, due to challenging conditions across its key geographies in the first half of the year, though it anticipates improvement in the second half.

Halma: Trading in Line With Views; Strong Growth in US, UK

Halma PLC (HLMA.LN) on Wednesday said trading in the period from April 1 was in line with the board's expectations, and that its order intake was ahead compared with the same period last year.

Hornby Says Five-Month Sales, Margin Higher

Hornby PLC (HRN.LN) said Wednesday that sales and margins for the first five months of fiscal 2020 were higher on year, but said its full-year outcome is subject to its performance over Christmas.

Mi-Pay 1H Pretax Loss Narrowed; Cautions on 2019 Performance

Mi-Pay PLC (MPAY.LN) on Wednesday reported a narrowed pretax loss for the first half of 2019 as both revenue and payment transactions processed rose, but it cautioned on its full-year expectations due to the loss of one of its larger contracts and challenging market conditions.

Mission Marketing 1H Pretax Profit Down 4%; Expects Stronger 2H

Mission Marketing Group PLC (TMMG.LN) on Wednesday reported a 4% fall in pretax profit for the first half of 2019 as it booked higher costs, and said it expects most of its profit to be generated in the second half.

Netcall FY 2019 Pretax Profit Leaps; Confident for FY 2020

Netcall PLC (NET.LN) on Wednesday reported a significant increase in pretax profit for fiscal 2019 on lower costs, and said the board is confident for the company's prospects.

Safestay Expects to Beat 2018 Revenue, Adjusted Ebitda; Shares Rise

Shares in Safestay PLC (SSTY.LN) rose Wednesday after the company said it expects revenue and adjusted Ebitda for the year to exceed 2018's results despite reporting a widened pretax loss for the first half of 2019.

Scientific Digital Imaging FY 2020 in Line With Market Views

Scientific Digital Imaging PLC (SDI.LN) said Wednesday that its financials are in line with market expectations for fiscal 2020.

Shaftesbury: Portfolio Continues to Perform Well

Shaftesbury PLC (SHB.LN) Wednesday said its property portfolio continued to perform well, and that its tenant-selection strategy ensured it remains largely unaffected by high-profile retail failures.

United Utilities Expects Higher 1H Revenue, Underlying Operating Profit

United Utilities Group PLC (UU.LN) said Wednesday that it expects to report higher revenue and underlying operating profit for the first half, and that its performance is in line with expectations.

 
Market Talk: 

Don't Trim Sterling Hedging: Cambridge Associates

1408 GMT - Sterling-based investors shouldn't change their currency hedge ratios or their allocations to sterling-denominated assets based on potential Brexit outcomes, says Michael Salerno, senior investment director on Cambridge Associates' global investment research team. While the U.K. parliament's recent legislation has "effectively taken an October 31 crash-out scenario off the table," a possible general election means "all bets would be off." The U.K. faces "a polarized electorate" and "an increasingly fragmented party structure", he warns. GBP/USD falls 0.9% to its lowest in almost two weeks at 1.2373. EUR/GBP rises 0.5% to 0.8874.

Aston Martin Slips Further into Junk Territory: S&P

1403 GMT - S&P Global Ratings has downgraded Aston Martin Lagonda further down into junk territory, or to CCC+ from B-, after the U.K.-based luxury sports car manufacturer priced $150 million in senior secured notes due April 15, 2022 at a 12% coupon. "We believe that AML has reached the ceiling in terms of the amount of term debt and cash interest burden that it can sustainably service, given our expectation that S&P-adjusted leverage will be more than 30x in fiscal 2019," says S&P. The success of Aston Martin's DBX luxury SUV car, which is expected to be launched next year, "is critical to its ambitious growth strategy and ongoing creditworthiness".

Boohoo Booming But Jury Remains Out on New Brands

1352 GMT - Boohoo is achieving strong results across its business, but questions remain about whether the online clothing retailer will be able to repeat the trick with newly acquired brands, says Hargreaves Lansdown. Boohoo reported an 84% rise in pretax profit, fueled by rising sales in all three of its major brands, particularly overseas. The group's rising cash pile should allow it to invest in recently acquired premium clothing lines Karen Millen and Coast, HL says. "These more mature brands are a bit of departure for the group - which has been squarely aimed at teenagers," says HL's Nicholas Hyett. "It's a potentially lucrative market if the group can crack it, but only time will tell." Shares fall 0.1%.

Brexit Delay to Lift Pound to $1.25-$1.29: UBS

1245 GMT - UBS stays overweight on sterling versus the dollar and says a delay to Brexit would lift the U.K. currency to between $1.25 and $1.29. "We still believe that a no-deal Brexit on 31 October, the current deadline, is unlikely," it says. However, if there were a no-deal Brexit, the pound would fall to around $1.12. If the U.K. leaves the EU with a deal similar to that agreed by former Prime Minister Theresa May, sterling would rise to around $1.35. Predicting Brexit "remains difficult" and UBS advises "being nimble on sterling" and says the longer-term risk-return on U.K. equities "looks uncertain." GBP/USD is last down 0.1% at 1.2381.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-9319

(END) Dow Jones Newswires

September 25, 2019 12:24 ET (16:24 GMT)

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