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FTSE Rises as Oil Stocks Gain Due to Higher Crude Prices

09/27/2021 | 04:56am EDT

FTSE 100 Rises as Oil Stocks Gain Due to Higher Crude Prices

The FTSE 100 rose helped by gains in some Asian markets and boosted by higher oil-linked stocks as crude oil prices rise. Royal Dutch Shell rises 2.5% and BP is up by 2.1% as the price of a barrel of Brent crude rises 1% to $77.97. "Energy prices look set to kick off the week on the front-foot once again, with surging demand and disruptions to supply driving inventories down," says IG. Germany's election resulted in an uncertain outcome, but there may be relief that a left-wing coalition looks unlikely. Better risk sentiment boosts travel stocks, with British Airways-owner International Consolidated Airlines up 3.5%. Still, FTSE 100 gains are limited as concerns linger about troubled Chinese developer Evergrande, China's regulatory crackdown and prospects of tighter monetary policy.

 
Companies News: 

Norman Broadbent Raises GBP297,380; In Talks Over Further Funding Options

Norman Broadbent PLC said Monday that it has raised 297,380 pounds ($406,697) via a share subscription and that talks are continuing with certain shareholders over further funding options.

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Revolution Beauty's 1H Sales Rose Significantly, 2H Seen Even Stronger

Revolution Beauty Group PLC said Monday that it achieved strong growth in sales in the first half of fiscal 2022, and sales growth is expected to accelerate further in the second half.

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Tasty 1H Pretax Loss Narrowed on Higher Sales

Tasty PLC on Monday reported a narrowed pretax loss for the first half of 2021 as sales increased, and said performance since the reopening for dine-in in May has exceeded expectations.

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Zinc Media Group 1H Pretax Loss Widened, Sees Profitable 2H

Zinc Media Group PLC said Monday that its pretax loss widened for the first half after it booked higher costs, and that it expects to be profitable in the second half.

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Saietta Enters Into Exclusive Supplier Agreement With EAV

Saietta Group PLC said Monday that it has entered into an agreement with Electric Assisted Vehicles Ltd. to be the exclusive supplier of in-wheel traction motors for EAV's proposed Lightweight Inner-City Solution vehicle.

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Kazatomprom Appoints Aslan Bulekbay COO

NAC Kazatomprom JSC said Monday that Aslan Bulekbay's appointment as chief operations officer and member of the management board was approved by the board on Friday.

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Norman Broadbent Pretax Loss Widened in 1H as Revenue Fell

Norman Broadbent PLC on Monday reported a widened pretax loss for the first half of the year on lower revenue as its business continued to be disrupted by the Covid-19 pandemic.

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Elixirr International Shares Rise on 1H Pretax Profit Rise, Growth Prospectus

Shares in Elixirr International PLC rose on Monday after the company reported a significant rise in pretax profit for the first half of 2021 and said that its strong pipeline for the remainder of the year has made it upgrade its full-year expectations.

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Shield Therapeutics Appoints Jose A. Menoyo Vice President, Chief Medical Officer

Shield Therapeutics PLC said on Monday that Jose A. Menoyo has been appointed vice president and chief medical officer with immediate effect.

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SpaceandPeople 1H Pretax Loss Narrowed on Lower Costs

SpaceandPeople PLC on Monday reported a narrowed pretax loss for the first half of the year on lower costs and said its U.K. and German markets are rebounding.

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Ukrproduct Swung to 1H Loss From Operations; Shares Fall

Shares in Ukrproduct Group Ltd. drop on Monday after the company said that it swung to a loss from operations for the first half as revenue fell.

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Beeks Financial FY 2021 Pretax Profit Rose; Shares Rise

Shares in Beeks Financial Cloud Group PLC rose Monday after the company reported a significantly higher pretax profit for fiscal 2021, and said its outlook is strong.

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Made Tech Group Prices IPO at GBP1.22 a Share; Market Capitalization GBP180.7 Mln

Made Tech Group PLC on Monday priced its initial public offering on London's junior AIM at 122 pence (167 cents) a share, implying a market capitalization of GBP180.7 million, equivalent to $247.1 million.

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Harland & Wolff Nonexecutive Chairman Clive Richardson Steps Down

Harland & Wolff Group Holdings PLC said on Monday that Nonexecutive Chairman Clive Richardson was stepping down from the board, and that his notice period will run until mid-December.

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Alkemy Capital Investments Shares Rise on London Market Debut

Shares of Alkemy Capital Investments PLC rose 20% on Monday as the company started trading on the London Stock Exchange, implying a market capitalization of 3.6 million pounds ($4.9 million).

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Cornerstone FS 1H Pretax Loss Widened; Confident on Higher FY 2021 Revenue

Cornerstone FS PLC reported on Monday a significantly widened pretax loss for the first half of 2021 but said that it expects to post revenue growth for the full year on higher trading volumes in the second half.

 
Market Talk: 

US Treasurys, UK Gilts Set to Slip Further

Investors are likely to continue to sell U.S. Treasurys and U.K. government bonds, pushing their yields higher, as they price in the possibility of higher interest rates, says Mizuho. "The move higher in yields should continue in U.S. Treasurys and more forcefully in GBP rates," analysts at the Japanese bank say. The Bank of England's surprise comments last week that the latest developments had strengthened the case for modest tightening makes foreign selling of gilts more likely, they say.The 10-year gilt yield trades last at 0.9556, close to its highest level since late May 2019, according to Tradeweb.

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

(END) Dow Jones Newswires

09-27-21 0455ET

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