FTSE 100 Drops as Oil, Mining, Financial Stocks Fall
28 Janvier 2022 - 11:07AM
Dow Jones News
FTSE 100 Drops as Oil, Mining, Financial Stocks Fall
0930 GMT - The FTSE 100 Index drops 0.8%, or 57 points, to 7497,
dragged down by oil, mining and financial stocks. Shell and BP are
more than 1% lower as the price of Brent crude trades broadly flat
around $88.30 a barrel. Fresnillo and Polymetal International fall
as gold and silver prices retreat. Meanwhile, Barclays, Prudential,
Scottish Mortgage Investment Trust and Standard Chartered are among
the biggest losers in the financial sector. "Mixed corporate
earnings are not helping to lift sentiment," says Richard Hunter,
head of markets at interactive investor. "The impact of the Omicron
variant, such as it is, will not wash through fully until the first
quarter earnings of 2022 become available."
(philip.waller@wsj.com)
Companies News:
Abrdn Raises GBP264 Mln From Sale of Part of Phoenix Group
Stake
Abrdn PLC said Friday that it has sold 40 million shares in
Phoenix Group Holdings PLC to institutional investors, raising
proceeds of around 264 million pounds ($353.3 million).
---
Amigo Holdings Appoints Danny Malone as Interim CFO
Amigo Holdings PLC said Friday that it has appointed Danny
Malone as chief financial officer on an interim basis.
---
Character Group to Return GBP13.5 Mln to Shareholders in Tender
Offer
Character Group PLC said Friday that it intends to return around
13.5 million pounds ($18.1 million) to shareholders through a
tender offer and repurchase of shares.
---
Capita PLC to Sell Trustmarque for GBP115 Mln
Capita PLC said Friday that it has agreed to sell its
Trustmarque IT services business to One Equity Partners for 111
million pounds ($148.6 million).
---
Avon Protection Launches Buyback Program of up to GBP18.5
Mln
Avon Protection PLC said Friday that it was launching a share
buyback program of up to 18.5 million pounds ($24.8 million), and
that organic revenue for the first quarter of fiscal 2022 was ahead
of the year-prior period.
---
Paragon Banking Group 1Q Performance in Line With
Expectations
Paragon Banking Group PLC said Friday that performance in the
first quarter of fiscal 2022 has been strong and in line with the
board's expectations.
---
Chill Brands 1H 2022 Revenue Soared
Chill Brands Group PLC said Friday that revenue for the first
half of fiscal 2022 rose significantly.
---
YouGov Expects FY 2022 to Beat Views After Good First Half
YouGov PLC said Friday that it expects fiscal 2022 results to be
slightly ahead of the board's expectations after experiencing
growth across all divisions and geographies in the first half.
---
Trackwise Sees 2021 Loss Widening, Revenue Rising; Names CFO
Designate
Trackwise Designs PLC said Friday that it expects its 2021
adjusted operating loss to widen and revenue to rise, and named
Paul Cook as its chief financial officer designate.
---
BrandShield to Raise GBP1.5 Mln in Share Placing
BrandShield Systems PLC said Friday that it intends to raise 1.5
million pounds ($2 million) through a share placing to
institutional investors.
---
Surface Transforms Sees 2021 Revenue Increase
Surface Transforms PLC said Friday that it expects to report a
20% increase in revenue for 2021.
Market Talk:
Paragon Banking's Buy-To-Let Pipeline Makes for a Positive
Outlook
0917 GMT - The outlook for Paragon Banking Group is positive
given its buy-to-let pipeline is in excess of GBP1 billion and the
company benefits from stable growth, high credit quality and
structural net interest margin expansion, Jefferies says. "Credit
performance and arrears remain stable, which may bode well for the
update to economic scenarios and overlays to the expected credit
loss modeling and provisions which will be done at the interim
results," the U.S. bank says as it highlights the strength of
capital and funding. Jefferies has a buy rating on the stock with a
target price of 650 pence. (kyle.morris@dowjones.com)
Avon Protection Set for Upgrades on the Back of Share Buyback
Program
0910 GMT - Avon Protection's share buyback program should be
earnings enhancing and positions the company to retain a very
healthy balance sheet at year-end, Jefferies says. With no major
M&A activity expected in the year for the manufacturer of gas
masks, helmets and body armor, and given its strong financial
position, the program of up to GBP18.5 million is an understandable
move and won't come as a surprise to seasoned Avon watchers,
Jefferies says. "On the back of the share buy-back, we would expect
low single digit EPS upgrades in the current year, with mid single
digit upgrades in fiscal 2023 and fiscal 2024," the U.S. bank says.
Jefferies rates the stock buy and has a 1,048 pence target price.
(anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
January 28, 2022 04:52 ET (09:52 GMT)
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