FTSE 100 Approaches Positive ITV, Retail Industry News

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The FTSE 100 closed on Wednesday, helped by results from UK television broadcaster ITV as well as positivity in the retail sector, with Marks & Spencer in particular improving its forecast. In addition, the surge in the price of gold due to rising inflation has helped mining companies. According to Chris Beauchamp at IG, the stock markets in general appear to be looking for a reason to rise and currently appear to be placing their hopes in the US infrastructure bill. “This fiscal stimulus boost would help ease concerns about tightening monetary policy and could help stocks weather the mid-month drop that often occurs in November,” Beauchamp said.

 
Companies News: 

Van Elle: Gresham House Asset Management reduces its stake to 2.65%

Van Elle Holdings PLC announced on Wednesday that Gresham House Asset Management Ltd. had reduced its stake to 2.65% of its issued share capital, compared to 9.04%.

Thor Mining’s AGM resolution to re-elect president accepted with few votes

Thor Mining PLC said on Wednesday that several resolutions were passed at its last annual general meeting with weak support from shareholders, including those for the reappointment of non-executive chairman Mark Potter.

UK Watchdog issues initial enforcement order regarding IHS Markit acquisition by S&P Global

The UK markets regulator said on Wednesday it had served a first enforcement order regarding the planned acquisition of IHS Markit Ltd. by S&P Global Inc.

Sale of Q-Tips planned for Unilever shelves

Unilever PLC has shelved plans to sell a series of struggling beauty and personal care brands after failing to generate enough interest, people familiar with the matter say, a setback for the consumer goods giant which has been under pressure to accelerate its growth.

Darktrace director Vanessa Colomar sells £ 9million of shares

Darktrace PLC said on Wednesday that director Vanessa Colomar sold around 9 million pounds ($ 12.2 million) of shares earlier this week.

ZOO Digital 1H 2022 Extended pre-tax loss on higher costs

ZOO Digital Group PLC on Wednesday announced an expanded pre-tax loss for the first half of fiscal 2022 as the group recorded higher expenses, and said it expects increased profitability for future periods as the group recorded higher expenses. ‘it invests to increase its market share.

Pressure Technologies: Gresham House Asset Management reduces its stake to 4.66%

Pressure Technologies PLC announced on Wednesday that Gresham House Asset Management Ltd. had reduced its stake in the company to 4.66% of its issued share capital, against 18.48%.

Permanent TSB sells € 390 million loan portfolio to Morgan Stanley

Permanent TSB Group Holdings PLC announced on Wednesday that its subsidiary Permanent TSB plc has agreed to sell a portfolio of loans to Morgan Stanley Principal Funding, Inc.

Tracsis pre-tax profit for fiscal 2021 increased thanks to increased revenues

Tracsis PLC on Wednesday announced an increase in pre-tax profit for fiscal 2021 thanks to higher revenues and said negotiations for the first quarter of the new year had started in line with the expectations of the board of directors.

Emmerson Secures $ 46.8 Million Investment for Potash Project; Rise in shares

Shares of Emmerson PLC rose on Wednesday after the company said it had secured a strategic investment of up to $ 46.8 million for the development of the Khemisset potash project in Morocco.

ProCook Group IPO price at 145p per share, low end

On Wednesday, ProCook Group PLC valued its initial public offering at 145 pence per share, the lower end of the range set earlier this month, which implies a market cap of 158 million pounds ($ 214.2 million ) at the start of conditional transactions.

Renold PLC 1H 2022 Pre-tax profit doubles thanks to higher sales

Renold PLC said on Wednesday that first-half 2021 pre-tax profit more than doubled, boosted by higher revenues.

PCI-PAL announces a good start to the year, with £ 1.2 billion in contracts signed since the start of the year

PCI-PAL PLC said on Wednesday it had a good start to the year ending June 2022.

BowLeven Warns of Further Delays and High Costs for Etinde Project; Fall in shares

BowLeven PLC shares fell on Wednesday after the company said development costs for its Etinde oil and gas project off Cameroon could be higher than expected.

PCI-PAL launches defense in response to Rival’s patent infringement claims

PCI-PAL PLC said on Wednesday it had started its defense in response to patent infringement claims filed against the company by a competitor.

Property appraisal of downtown Rose titles; Rent returns to normal

Town Center Securities PLC said on Wednesday that the valuation of its real estate portfolio had risen slightly and that rent collection had returned to pre-coronavirus pandemic levels.

ITV expects record advertising revenue for full year after third quarter growth

ITV PLC said on Wednesday that it expects ad revenue to grow year-on-year in its crucial fourth quarter after growth in the first nine months of 2021, and it has entered into a business partnership agreement. long term with Virgin Media.

 
Market Talk: 

Asos can reach its sales target if it maintains its momentum

1324 GMT – Asos shares gain 5% after the online fashion retailer announced plans to increase sales by 15% to 20% annually to seven billion pounds ($ 9.49 billion) in over the next three or four years. The goal is achievable if Asos continues to increase the number of customers at the rate it has achieved so far, which is expected to accelerate with increasing marketing spend, and if it slightly improves the frequency of calls. orders, according to RBC Capital Markets. “We believe that the [capital markets day] today will be a turning point for equities, ”said Sherri Malek, RBC analyst.

S4 Capital posts solid third quarter but leaves guidance unchanged

12:30 GMT – Digital advertising and marketing services firm S4 Capital’s 3T trading update showed underlying net revenue increased 42% from 49% in 1H, bringing the rate up nine-month growth of 47%, according to Citi. Although the company said it was trading in line with external expectations of ‘high end’, it did not change its forecast and said its EBITDA and EBITDA margin continued to reflect increased investment. to prioritize revenue growth, the US bank said. . Shares are down 10% to 704 pence.

Unilever divestment plans add pressure on outlook

1226 GMT – Unilever has abandoned plans to sell a series of struggling beauty and skincare brands because they haven’t generated enough interest in them, the WSJ reports, citing sources. This adds to investor worries about rising prices, the continued costs of corporate restructuring and rising interest rates, said Laith Khalaf, head of investment analysis at AJ Bell. “If yields start to rise, cautious investors might gradually be tempted to leave stocks like Unilever and return to their natural bond habitat,” Khalaf said. Unilever is undoubtedly going through difficult times, but it is still a quality company, adds Khalaf. Shares are down 0.2% to 3,901.00 pence.

JD Wetherspoon shares appear overvalued given the market context

1157 GMT – JD Wetherspoon remains the alpha dog of the UK pub industry, but it is not immune to the repositioning of consumption patterns or its historically low margin structure and price elasticity, according to Shore Capital. The pub operator’s shares are valued at 10 times his fully recovered pandemic pre-pandemic Ebitda, and under normal circumstances that would seem a reasonable value – but such a return to that level of profitability seems far away, given the context of the Marlet. , cost pressures and increases in living wages, according to the investment group. Shore retains his holding rating on the title and says he continues to see better value elsewhere. Shares are down 7% to 957.5 pence.

Velocys SAF Agreements Reduce Risk of US Biorefinery Project

1152 GMT – Sustainable Aviation Fuel [SAF] Specialist Velocys’ agreements with Southwest Airlines and IAG are an important step because it significantly reduces the risk profile of its biorefinery project in Mississippi, according to Shore Capital. The company’s two drawdown agreements guarantee the sale of its SAF, and associated greenhouse gas credits, to two major airlines at a fixed price. “In an environment where ESG issues are at the forefront of economic development and for investors, and where the need and demand for SAF is ‘taking off’, we continue to believe that Velocys is uniquely positioned to benefit,” says Shore . Shares are up 35% to 8.49 pence.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

 

(END) Dow Jones Newswires

November 10, 2021 12:55 p.m. ET (5:55 p.m. GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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