FTSE 100 Set to Open Broadly Flat After Asia, US Losses
The FTSE 100 is expected to edge five points higher to 7001, according to CMC Markets, after mostly downbeat trading in Asia and a lower close on Wall Street Tuesday. Markets in mainland China, Japan and elsewhere fall, though Hong Kong's Hang Seng is higher, while the Dow Jones closed 0.2% lower. "As we look towards this morning's European open, last night's blockbuster tech results only appear to have offered a modest uplift after yesterday's declines, while Asia markets have continued to be buffeted by turmoil created by events in China and the regulatory environment there, as we look towards the Fed later," CMC's Michael Hewson says.
Barclays 2Q Pretax Profit Rose Above Views, Pre-Pandemic Levels
Barclays PLC on Wednesday reported a significant rise in pretax profit for the second quarter, which surpassed market views and pre-pandemic levels.
ITV 1H Pretax Profit Recovered; Sees Encouraging Advertising Outlook
ITV PLC said Wednesday that first-half pretax profit rose sharply as revenue from advertising and its studios recovered from the hit caused by the coronavirus pandemic, and said it is encouraged by the advertising outlook for the coming months.
Metro Bank's 1H Pretax Loss Narrowed
Metro Bank PLC reported Wednesday a narrowed pretax loss for the first half of the year, in line with guidance.
Aston Martin Lagonda 2Q Loss Narrowed as Revenue Soared
Aston Martin Lagonda Global Holdings PLC on Wednesday reported a narrowed loss for the second quarter of 2021, as revenue was significantly higher than a year earlier.
St. James's Place Swung to 1H Pretax Profit
St. James's Place PLC said Wednesday that it swung to pretax profit for the first half and that it expects the rate of gross inflow growth in the second half to be around 20% despite strengthening comparatives in the latter part of the year.
Rio Tinto 1H Net Profit, Dividends Sharply Higher
SYDNEY--Rio Tinto PLC notched a $12.31 billion first-half net profit and more than tripled its midyear payout to shareholders, benefiting from a bull run in commodity prices that has stoked inflation expectations around the world.
Man Group 1H Pretax Profit Rose Significantly
Man Group PLC reported Wednesday a significant rise in pretax profit for the first half of 2021, achieving record-high funds under management in the period.
Staffline Sees 1H Revenue, Gross Profit Rise Ahead of Expectations
Staffline Group PLC said Wednesday that it expects to report first-half revenue and gross profit both rose ahead of its expectations on the back of strong trading.
Rathbone Brothers 1H Pretax Profit Rose
Rathbone Brothers PLC said Wednesday that pretax profit for the first half of the year rose, and that it has entered the second half in a robust position.
Sabre Insurance's 1H Performance Prompts Forecast Downgrades
0541 GMT - Sabre Insurance Group's first-half results were once again lacklustre as a weak top line put pressure on the expense ratio, Berenberg says. The FTSE 250 motor insurer's guidance for the current combined ratio--the proportion of revenue taken up by losses and expenses--of 70%-80% is also very stretched going into next year, Berenberg says. It is highly unlikely to materialize, the brokerage says. "Consensus estimates must come down materially and unfortunately this will lead to weak share price performance." Berenberg cuts its recommendation on the stock to sell from hold and lowers its target price to 224 pence from 257 pence.
BHP's Noront Offer Reflects Shift Toward Battery Commodities
0002 GMT - BHP's unexpected takeover offer for Noront Resources reflects BHP's desire to increase output of commodities used in batteries, says Macquarie. "The move to acquire Noront Resources is a surprise, although at just C$325 million, accounts for circa 0.1% of BHP's market capitalization," Macquarie says. Noront owns the Eagle's Nest nickel, copper and platinum group metals project, as well as other exploration assets. BHP's only nickel exposure is its Nickel West operation in Australia. "Given the comparatively small scale of Eagle's Nest, we suspect BHP's acquisition is more focused on Noront's substantial exploration tenement portfolio in the Ring of Fire," Macquarie says.
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