Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

FTSE 100 Rises 0.7% Led by ITV

09/06/2021 | 12:18pm EDT

The FTSE 100 started the week up 0.7% with ITV topping the risers list. "Having started the day with gains, indices across Europe have held on to their bullishness throughout the session, with Friday's nervousness being swept aside," IG's Chris Beauchamp said. ITV rose 2.5%, but the broadcaster's gains may have been driven by the fact that it initially traded at a one-month low, which could have prompted bargain hunting, Michael Hewson from CMC Markets said. Experian and Intermediate Capital also saw their share prices increase more than 2.0%. On the red side, Rio Tinto appears to factor in recent weakness in iron ore prices. Shares in the Anglo-Australian miner also fell 1.3%.

 
Companies News: 

United Oil & Gas Lowers Production Guidance at Egyptian Oil Field; Shares Fall

United Oil & Gas PLC shares fell Monday after it said it has lowered its full-year production guidance for the Abu Sennan license in Egypt, as the proportion of water to oil increased in one field.

---

Attraqt Appoints Tom Crawford as Chairman, Nick Habgood Steps Down

Attraqt Group PLC said Monday that it has appointed Tom Crawford as nonexecutive chairman with immediate effect, taking over from Nick Habgood.

---

Randall & Quilter Swung to 1H Pretax Loss

Randall & Quilter Investment Holdings Ltd. said Monday that it swung to a first-half pretax loss, and lowered its interim dividend.

---

PCI-PAL's Pretax Loss Narrowed in Fiscal 2021

PCI-PAL PLC said Monday that its fiscal 2021 pretax loss narrowed as revenue rose, and that it has had a strong start to fiscal 2022.

---

Xpediator Names Mark Whiteling as Incoming Non-Executive Chairman

Xpediator PLC said Monday that it has appointed Mark Whiteling as nonexecutive chairman effective from Sept. 22, taking over from Alex Borrelli.

---

City of London Group Agrees to Sell Milton Homes for GBP9.3 Mln

City of London Group PLC said Monday that it has agreed to sell Milton Homes Ltd. to Max Barney Investments Ltd. for a total consideration of 9.3 million pounds ($12.9 million).

---

Goldman Sachs's Petershill Plans London Listing

Goldman Sachs Group Inc.'s Petershill Partners said Monday it plans to list an investment vehicle on the London Stock Exchange, taking advantage of a sizzling market for private equity.

---

Checkit Appoints New CFO as Aylsa Muir Steps Down

Checkit PLC said Monday that Chief Financial Officer Aylsa Muir has stepped down from the board to pursue opportunities outside the company, and that Greg Price has been appointed as her replacement with immediate effect.

---

MD Medical Group Investments 1H Net Profit, Revenue Surge

MD Medical Group Investments PLC has posted higher net profit and revenue in the first half, helped by in-patient treatments and segments such as oncology, internal medicine, trauma and cardiology.

---

Spectra Systems 1H Pretax Profit Rose

Spectra Systems Corp. said Monday that pretax profit for the first half of the year rose as revenue increased, and that it is on track to achieve record earnings and meet market expectations for the year.

---

Marechale Capital Shares Rise on Lithium Company Subscription

Shares in Marechale Capital PLC rose Monday after the company said it has subscribed for founder shares in lithium exploration and development company Weardale Lithium Ltd.

---

Foresight Sustainable Forestry Plans GBP200 Mln IPO

Foresight Sustainable Forestry Company PLC said Monday it seeks to raise 200 million pounds ($277.2 million) with an initial public offering on the London Stock Exchange.

---

Totally PLC Shareholders Pass Authorization on Share Issue by Slim Margin at AGM

Totally PLC on Monday said that a proposal to grant directors additional authorization to issue shares was passed by a slim margin at the annual general meeting.

 
Market Talk: 

Tesco Could Be Next Private-Equity Bid Target

1216 GMT - Tesco shares gain 1% after a brokerage reportedly tipped the U.K. grocer as the next potential target for private-equity firms seeking cheap U.K. takeover deals. Bernstein says the supermarket--led by chief executive Ken Murphy--was its top pick for a takeover as its shares are cheaper than U.K. rivals and it completed a turnaround under former boss Dave Lewis, the Daily Mail reported Saturday. "We think it's the most attractive at a fundamental level," the newspaper quoted Bernstein as saying. Still, the Mail said only a few of the world's largest private-equity firms, such as Blackstone, KKR and CVC, would have the financial muscle to bankroll such a deal. It comes as Tesco rival Morrisons faces competing private-equity bids.

---

Guinea Coup Should Support Aluminum Prices

1159 GMT - The military coup in Guinea should be a net beneficiary to aluminum prices, as well as alumina and bauxite prices, Berenberg says. Guinea ships around 25% of global bauxite, the German bank says, adding that a metric ton of aluminum requires around 2 tons of alumina, which in turn requires around 2.5 tons of bauxite. Although Berenberg expects prices to ease on the assumption that a peaceful transition of government occurs, the news should be a net positive for producers such as Rio Tinto. "The aluminium division [of Rio Tinto] comprises 17% of revenue and 9% of Ebitda, so any near-term disruption in the aluminium value chain has scope to support and augment aluminium division earnings." (jaime.llinares@wsj.com)

---

Gulf Keystone Petroleum's Investment Case Is Picking Up

1139 GMT - Gulf Keystone Petroleum is becoming a better investment bet, says house brokerage Peel Hunt. While the crude oil producer underwent a heavily-dilutive financial restructuring several years ago and has faced occasional takeover speculation, GKP now generates significant cash and shows good financial discipline by returning excess profits to shareholders, Peel Hunt says. Even after $100 million in FY 2021 dividends and increased spending, the company ought to end the year with a strengthened balance sheet and more cash, the brokerage says. "We reiterate our buy recommendation and 300 pence target price," Peel Hunt says. Shares rise 4.9% to 192 pence.

---

Crypto Demand Could Fall on Potential UK Regulatory Clampdown

0956 GMT - Cryptocurrency demand could fall if the U.K.'s financial watchdog adopts proposals from the Basel Committee on Banking Supervision that would make it costlier to invest in the digital assets, Hargreaves Lansdown says. The Financial Conduct Authority appears to be "throwing its weight" behind the Basel Committee's recommendations, including a consideration to enforce banks and other financial institutions to set aside enough capital to cover potential losses involved in adopting cryptocurrencies, Hargreaves Lansdown analyst Susannah Streeter says. "Giving speculative tokens a high risk price tag is likely to make crypto currency dealing and investment very expensive and could limit the number of new institutional entrants into the crypto world," Streeter says. Bitcoin rises 3.3% to $51,759, according to CoinDesk.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

09-06-21 1217ET

Latest news "Economy & Forex"
05:49pIranian supertanker departing from Venezuela to transport heavy oil
RE
03:35pU.s. cdc says as of october 16, 10,114,824 people received a booster dose for covid-19 vaccine since august 13, 2021
RE
03:35pU.s. cdc says 188,902,483 individuals have been fully vaccinated against covid-19 as of oct 16 vs 188,655,196 individuals as of oct 15
RE
03:34pU.s. cdc says 218,562,924 individuals have received at least one dose of covid-19 vaccine as of oct 16 vs 218,318,056 individuals as of oct 15
RE
03:34pU.s. cdc says delivered 494,918,755 doses of covid-19 vaccine as of oct 16 vs 493,139,295 doses delivered as of oct 15
RE
03:34pU.s. cdc says administered 407,446,961 doses of covid-19 vaccine as of oct 16 vs 406,570,875 doses administered as of oct 15
RE
03:06pPetroecuador modifies terms for oil tenders
RE
01:52pECLAC ECONOMIC COMMISSION FOR LATIN AMERICA AND : Latin American and Caribbean Countries Will Analyze the Role of the State's Institutional Framework and of Planning for Development in the Post-Pandemic Recovery
PU
11:38aUK-France power link hit by fire set for partial restart ahead of plan
RE
11:02aGlencore opens talks with Chad over debt restructuring
RE
Latest news "Economy & Forex"