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 Falls on Fears Over Energy Prices; Tesco Gains

10/06/2021 | 02:25am EST

FTSE 100 Falls as Energy Prices Jump, But Tesco Gains

0807 GMT - The FTSE 100 Index drops 1.3%, or 90 points to 6987, but Tesco is among a handful of risers in London, gaining 4% following a strong first half. Tesco's rival Sainsbury also advances, up 0.7%, but most other stocks are in the red amid concerns about rising energy prices. Travel-related and property stocks are among the biggest fallers. Brent crude increases 0.3% to $82.83 a barrel. Natural-gas prices in Europe spiked 20% Tuesday and have more than quintupled since the start of the year, with U.S. and Asia prices also rising, Deutsche Bank says. "The importance of these moves on inflation, growth and external accounts isn't to be underestimated," DB's head of global foreign-exchange research, George Saravelos, says. (philip.waller@wsj.com)

 
Companies News: 

TUI Launches Discounted Share-Placing; Summer, Winter Pipeline Strong

TUI AG said Wednesday that it intends to raise proceeds of around 1.1 billion euros ($1.28 billion) via a discounted share-placing to reduce its debt position.

---

Tesco Raises FY Guidance, Launches GBP500 Mln Share Buyback

Tesco PLC on Wednesday raised guidance for the fiscal year after a strong first half, and said that it is starting a share-buyback program.

---

Imperial Brands Says FY 2021 Net Revenue Grew Around 1%

Imperial Brands PLC said Wednesday that it expects to report that fiscal 2021 net revenue brew by around 1% on an organic, constant-currency basis, and that this is driven by a continued strong pricing in tobacco.

---

PageGroup's 3Q Gross Profit Rose, Sees FY Operating Profit of GBP155 Mln

PageGroup PLC said Wednesday that gross profit for the third quarter of the year rose, adding that full-year operating profit is expected to be around 155 million pounds ($179.8 million).

---

TUI 3Q Revenue Rose; Summer and Winter Pipeline Strong

TUI AG said Wednesday that revenue for the third quarter of fiscal 2021 rose significantly when compared with the previous quarter, and added that it intends to raise proceeds of around 1.1 billion euros ($1.28 billion) via a discounted share placing to reduce its debt position.

---

Topps Tiles to Report Higher FY 2021 Revenue, Beat Market Profit Forecasts

Topps Tiles PLC said Wednesday that it expects to report a rise in fiscal 2021 group revenue as it benefited from a buoyant home-improvement market in the U.K., and that it now expects to beat full-year profit forecasts.

---

Marshall Motor Holdings Raises 2021 Profit Guidance

Marshall Motor Holdings PLC said Wednesday that it is raising its continuing underlying pretax profit guidance for 2021 to no less than 50 million pounds ($68.1 million) from the at-least GBP40 million it guided for in August.

---

Lookers FY Underlying Pretax Profit Seen Ahead of Views on Strong 3Q

Lookers PLC said Wednesday that its full-year underlying pretax profit for 2021 is expected to be materially ahead of its previous views as a consequence of above-normalized levels of new car orders.

---

Alpha Financial Markets Backs FY Expectations After 1H Net Fee Growth

Alpha Financial Markets Consulting PLC said Wednesday that its performance in the first half of fiscal 2022 was strong, adding that it remains confident in meeting its full-year expectations.

---

Ferrexpo 3Q Iron Ore Pellet Production Rose 2%

Ferrexpo PLC on Wednesday reported that its iron ore pellet production increased 2% in the third quarter.

---

MGC Pharmaceuticals Gets $3 Mln Purchase Order for Covid-19 Cimetra Drug

MGC Pharmaceuticals Ltd. said Wednesday that it has received a $3 million purchase order for its Cimetra drug from AMC Holdings Inc. to treat Covid-19 patients, with a $1 million payment due before for first delivery.

---

Netcall FY 2021 Pretax Profit Jumped, Raises Dividend

Netcall PLC on Wednesday reported a jump in pretax profit and higher revenue for the year ended June 30, and raised its dividend.

 
Market Talk: 

UK Jan 2029 Gilt Auction May Struggle to Attract Demand

0719 GMT - The U.K. Debt Management Office's planned sale of GBP2.5 billion in the January 2029 gilt may struggle to attract demand following weak auctions on Tuesday, says RBC Capital Markets. Like the bonds tapped yesterday, the 2029 gilt has also recently cheapened outright, cross-market and on asset swap terms, analysts at the bank say. "This was also the environment leading up to yesterday's 3y and 17y auctions and those struggled to be taken down by the market," they say. Moreover, seven-year maturities looks rich on the curve at these levels and "we probably have not seen enough concessions on micro-relative value [terms] for the bond to be attractive enough, they say. (lorena.ruibal@wsj.com)

Tesco Shares Rise After Positive Interim Results

0703 GMT - Shares in Tesco rise 4% at the market opening after the U.K.'s biggest grocer reported first half results, announced a GBP500 million buyback program and unveiled some strategic guidelines and targets. Adjusted operating profit for the six months ended Aug. 28 increased to GBP1.46 billion, beating the GBP1.30 billion consensus, Citi's Nick Coulter says. Tesco's new team has outlined four strategic priorities around value, Clubcard, convenience and Save to Invest, which will underpin its commitment to drive top line growth, at least hold market share, grow adjusted operating profit and deliver GBP1.4 billion-GBP1.8 billion of operational free cash flow per annum, the analyst says. Citi has a buy rating on Tesco. (jaime.llinares@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

10-06-21 0425ET

Latest news "Economy & Forex"
05:58pGap settles U.S. charges of job discrimination based on immigration status
RE
05:58pU.S. Treasury expects rental aid to reach $25-30 billion by year-end
RE
05:56pWall Street rebounds after virus-related sell-off
RE
05:53pLululemon fires back at Peloton lawsuit with its own, calls rival a 'copycat'
RE
05:50pPfizer, BioNTech to seek FDA approval for booster shots for 16 and 17-year olds- Washington Post
RE
05:47pCanada's trans mountain says work was interrupted at some sites on sunday november 28, 2021 due to high water or lack of access
RE
05:47pCanada's Trans Mountain Still Days Away From Restarting The Pipeline At Reduced Capacity - Statement
RE
05:47pCanada's trans mountain says after initial start-up, a sustained effort will continue to return system to its full capacity as soon as possible
RE
05:47pCanada's trans mountain says still days away from restarting the pipeline at a reduced capacity - statement
RE
05:47pCanadian province extends fuel restrictions on motorists following flooding
RE
Latest news "Economy & Forex"