FTSE 100 Falls as House-Builders, Miners Drop
The FTSE 100 drops 0.2%, or 17 points to 7170 as house-builders fall after downbeat industry data. The Halifax house-price index showed the annual rate of house-price inflation continuing to slow, hitting a five-month low of 7.1% in August versus 7.6% in July. Berkeley Group Holdings, Taylor Wimpey and Persimmon are all lower. "Much of the impact from the stamp-duty holiday has now left the market, as highlighted by the drop in industry transaction numbers compared to a year ago," Halifax managing director Russell Galley says. Precious-metal miners also fall as gold and silver prices drop, although gains for oil majors limit overall index losses as Brent crude rises 0.4% to $72.50 a barrel.
Merit Group Interim CEO Made Permanent; New CFO Incoming in Board Reshuffle
Merit Group PLC said Tuesday that interim Chief Executive Officer David Beck has been appointed to the position permanently and that Chief Financial Officer Simon Bullock will step down.
Luceco 1H Pretax Profit Nearly Doubled; Increases Dividend
Luceco PLC reported on Tuesday a nearly doubled pretax profit for the first half of 2021 and declared an increased interim dividend.
Induction Healthcare Ends Joint CEO Structure, Shuffles Management
Induction Healthcare Group PLC said Tuesday that it would end its joint-chief-executive structure.
Maintel Swung to 1H Pretax Profit
Maintel Holdings PLC said Tuesday that it swung to pretax profit for the first half of 2021, though earnings fell on an adjusted basis.
Midwich Group Swung to 1H Profit Despite Pandemic Disruption
Midwich Group PLC said Tuesday that it swung to a first-half profit as business momentum continued despite the pandemic-related disruption to the corporate, live-events and entertainment markets.
Trafalgar Property Shares Fall on Warning Over Going Concern
Trafalgar Property Group PLC shares fell Tuesday after it warned on the potential future of the business, despite a narrowed pretax loss in fiscal 2021.
Alumasc FY 2021 Earnings, Revenue Rose
Alumasc Group PLC said Tuesday that its fiscal 2021 earnings and revenue grew.
RA International 1H Profit, Revenue Drop in Line With Expectations
RA International Group PLC said Tuesday its revenue and underlying earnings in the first half of 2021 fell in line with its expectations.
Parsley Box Shares Fall on Widened 1H Pretax Loss
Shares in Parsley Box Group PLC fell Tuesday after reporting a significantly widened pretax loss for the first half of the year, but said it expects to benefit from further growth in the second half.
GRC International Posts Narrowed FY 2021 Loss Despite Slip in Revenue
GRC International Group PLC said Tuesday that it narrowed its fiscal 2021 pretax loss despite a fall in revenue, and said it is optimistic heading into the new year.
Concurrent Technologies 1H Pretax Profit Rose But Warns of Potential Shipment Delays
Concurrent Technologies PLC on Tuesday reported a rise in pretax profit for the first half of the year, but warned of potential shipment delays.
Boku 1H Earnings, Revenue Rose
Boku Inc said Tuesday that its earnings and revenue grew in the first half.
Flowtech Fluidpower Swung to 1H Profit
Flowtech Fluidpower PLC said Tuesday that it swung to a first-half profit as volumes and revenue recovered.
Pearson Acquires Australian AI Analytics Company
Pearson PLC said Tuesday that it has acquired Faethm, an Australian workforce artificial intelligence and predictive analytics company.
Cairn Energy's $1.06 Bln India Tax Refund Is In Line With Rumors
0905 GMT - Cairn Energy shares rise 2.3% after reporting 1H results, but attention is likely to focus on its comments on the Indian tax dispute, RBC says. The oil-and-gas company expects a refund of around $1.06 billion from the Indian government, which is in line with comments that have come out of India since early August but continues to represent upside to today's share price, RBC says. Cairn said it will return $700 million to shareholders via a special dividend and a share buyback program. RBC expects this clarity to drive shares higher today, but says longer-term interest depends on investors' appetite for Egyptian oil and gas and fossil fuels in general.
Marks & Spencer Seen as Able to Outperform Market, Helped by Consumers' Perception
0851 GMT - Marks & Spencer's offer in Clothing & Home and Food is making strong progress and resonates well, UBS says. Although its August profit upgrade was likely helped by some pent-up demand in C&H, analysts say there was clear evidence of improvement in execution. The company is well positioned to capture market growth as it gains momentum in consumers' perception of value proposition, UBS says. "We believe M&S can continue to outperform the market on a YoY basis, considering its underperformance over the past year and its healthy improvements in customer perception, price perception help it," the Swiss bank says. UBS upgrades its stock rating to buy from neutral, and raises its target price to 230 pence from 125 pence.
Vistry's Progress in Partnerships Bodes Well
0850 GMT - Shares in Vistry Group gain 5% after the U.K. house builder reported a swing to a first-half profit and raised its full-year expectations on the back of strong demand and better margins. The company's partnership business, which works with housing associations to provide affordable social housing, is thriving, Hargreaves Lansdown says. "With demand for social and affordable housing only likely to increase, we see Vistry's position here as highly attractive and a source of sustainable growth for years to come," Hargreaves analyst Nicholas Hyett says, adding that the company's shareholder-return plans look particularly generous.
DS Smith Reports Higher 1Q Volumes, But Costs Rise
0832 GMT - Shares in DS Smith rise 1.6% after the packaging company reported higher first-quarter volumes, although it said costs are still rising. The trading update was reassuring, showing demand momentum continuing, Citigroup says. While input costs have continued to increase, Smith expects to offset this largely through prices, which should boost margins especially in the second half of the year, the U.S. bank says. "We're ahead of consensus estimates for FY22... and think consensus is likely to be revised slightly upward after today's trading update," Citigroup says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at email@example.com
(END) Dow Jones Newswires