London stocks rise as energy and telecoms stocks rally
FTSE 100 rises as energy and telecoms stocks rally
The FTSE 100 climbs 0.9% to 7186 points with the energy and telecommunications stocks among the best performing. Energy shares Royal Dutch Shell and BP due to rising oil prices. Telecommunications stocks Vodafone and BT are advancing as “vague and continuing takeover speculation” continues to weigh on the sector, according to Interactive Investor analyst Richard Hunter. Travel sector stocks are gaining as “investors continue to assess whether recent markdowns have been overstated, particularly when considering what could be a promising summer season,” he said. “However, the outlook immediately remains uncertain and the economic messages mixed, let alone the news. [Omicron coronavirus] variant, confuse the issue. Meanwhile, the London Stock Exchange Group rose 1.6% after buying Quantile Group to strengthen risk management solutions.
Versarien 1H pre-tax loss reduced thanks to higher income
Versarien PLC said on Monday that its pre-tax loss for the first half of fiscal 2022 had narrowed as revenues increased.
Fusion Antibodies 1H Pretax Extended Loss, Pink Income
Fusion Antibodies PLC said on Monday that its pre-tax loss widened for the first half of fiscal 2022 despite the increase in revenue, and it expects its annual revenue to meet expectations.
Cellular Goods appoints new CEO
Cellular Goods PLC announced on Monday that it has appointed Anna Chokina as the new CEO.
Thungela sees 2021 export coal production on plan
Thungela Resources Ltd. said on Monday it expects salable export production of 14.9 million metric tonnes of coal in 2021, according to the latest forecast.
Fulham Shore Achieved Pre-Tax Profit of 1H; FY22 is ahead of market expectations
Fulham Shore PLC on Monday reported lower pre-tax profit for the first half of fiscal 2022, driven by higher revenues and said it expects its annual performance to exceed market expectations .
Hardide’s pre-tax loss for fiscal 2021 widened; Sees improved performance in fiscal 2022
Hardide PLC on Monday announced an expanded pre-tax loss for fiscal 2021 on lower income, but said it expects performance to improve for next fiscal year as demand recovers .
Hammerson to buy back around Â£ 2.5million of shares
Hammerson PLC said on Monday it would launch a share buyback program, repurchasing shares worth up to around Â£ 2.5million ($ 3.3million).
Apax Global Alpha Funds sells stakes in Unilabs
Apax Global Alpha Ltd. said on Monday that two funds he advises have agreed to sell their stakes in Unilabs to AP Moller Holding, with the transaction expected to close in the first quarter of 2022.
3i Infrastructure invests Â£ 191million in SRL traffic systems for majority stake
3i Infrastructure PLC said on Monday it has invested Â£ 191million ($ 252.8million) for a 92% stake in SRL Traffic Systems, a traffic management rental company in the UK.
AG Barr acquires 60% of MOMA Foods, expects full control within three years
AG Barr PLC announced Monday that it has acquired a 60% stake in MOMA Foods Ltd. and plans to acquire full ownership of the business over the next three years.
Windward shares rise on London debut
The shares of Windward Ltd. rose on Monday as the company began trading on AIM.
Brandshield Achieves $ 5.0 Million Recurring Annual Revenue
BrandShield Systems PLC said Monday it exceeded $ 5.0 million in annual recurring revenue, its key performance indicator.
K-Cup Optical Equipment Orders From New Spectra Systems Customers Exceed Expectations
Spectra Systems Corp. announced Monday that a new customer has placed three orders totaling $ 394,000 for K-cup optical materials since September.
Norman Broadbent raises 75,347 GBP from a major shareholder
Norman Broadbent PLC said Monday it raised 75,347 pounds ($ 99,729) after issuing shares to shareholder Downing LLP.
The price of uranium could increase further, to the benefit of Yellow Cake
10:10 GMT – The price of uranium has risen 60% over the past year, but it could rise further if the political momentum behind nuclear power continues to build, Bell said. China plans to build 150 new nuclear power plants, France intends to restart its nuclear power program, the new Japanese prime minister is in favor of restarting at least 30 nuclear sites and the UK has started defending nuclear reactors modular Rolls-Royce, recalls AJ Bell. Yellow Cake is a London listed company that buys and owns uranium. “If uranium prices continue to rise, the value of Yellow Cake’s 17.9 million pounds of uranium will also increase (and he has the potential to buy another million pounds by next June). “said AJ Bell.
Sale of IRC stake by Petropavlovsk eliminates risk
1006 GMT – Petropavlovsk has completed the sale of its 31.1% stake in iron ore group IRC, removing a significant source of downside risk for its shares, Peel Hunt said. This is because the assignment frees Petropavlovsk from a loan guarantee, which probably means that the gold miner now has many more refinancing options at more competitive rates. Although the sale was made at a low price, it will allow the company to focus solely on its gold assets and strategy, Peel Hunt said. âWe believe the group now needs to see a quiet delivery period to reassure investors, rather than a repeat of recent UGC titles suing the company,â the brokerage said.
The pound to fall against the dollar if the Fed steps up its cut and the BOE’s delay rate hike
08:43 GMT – The British pound could weaken against the dollar if the Federal Reserve accelerates its reduction in asset purchases and the Bank of England delays interest rate hikes this month, according to the MUFG Bank. In this case, “the timing of the spread between the first Fed and the BOE and the rate hikes could be much shorter than expected and keep the risks on the downside for [GBP/USD] in the short term, âsaid Lee Hardman of MUFG. Fed policymakers signaled a faster pullback from asset purchases at the December 14-15 meeting despite the emergence of the Omicron coronavirus variant, while BOE policymaker Michael Saunders said on Friday that there might be advantages to assessing the impact of the variant before increasing rates. GBP / USD was last up 0.1% to 1.3252.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]
(END) Dow Jones Newswires
December 06, 2021 06:02 ET (11:02 GMT)
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