Sainsbury Rises to Top of FTSE 100 on Bestway Stake Build
0930 GMT - J Sainsbury's shares trade at the top of the FTSE 100
after Bestway Group said it is acquiring a 3.45% holding, which
represents a vote of confidence in the British supermarket,
Interactive Investor says. Between August 2021 and October 2022,
shares in Sainsbury's suffered a difficult slide, shedding around
45% of their stock market value. But since the lows, the
supermarket has regained ground, and perhaps Bestway wanted to make
the most of its relatively depressed share price before the stock
recovers further, Interactive Investor head of investment Victoria
Scholar says in a comment. "The stock has had a strong start to the
year after a tough 2022 with gains accelerating today," Scholar
says. Shares in Sainsbury are up 4.7% at 250.6 pence.
Direct Line CEO Penny James Steps Down
Direct Line Insurance Group PLC said Friday that Chief Executive
Penny James is stepping down from the role with immediate
Bestway Group Buys Around $240 Mln of Shares in J Sainsbury
Bestway Group Ltd. said Friday that it has bought or agreed to
buy shares worth 3.45% of J Sainsbury PLC's issued share capital,
or around 193.4 million pounds ($240.0 million).
Superdry Cuts FY 2023 Profit Guidance After Swing to 1H Pretax
Superdry PLC said Friday that it swung to a pretax loss in the
first half of fiscal 2023 though revenue rose, and lowered its
full-year profit outlook.
On the Beach FY 2023 Year-to-Date Holiday Sales Up 68% Vs Year
On the Beach Group PLC said Friday that the total value of
holidays sold for the fiscal year to date is 68% higher than the
same period last year, with October to December bookings beating
their year earlier comparatives.
Avon Protection 1Q Revenue Rose, Says Order Pipeline is
Avon Protection PLC said Friday that its first-quarter revenue
rose and that it has a strong pipeline for its leading respiratory
Paragon Banking 1Q New Lending Rose; Raises FY 2023 Interest
Paragon Banking Group PLC on Friday said first-quarter new
lending increased 22% on year and raised its net interest margin
growth guidance for fiscal 2023.
Faron Pharmaceuticals Raises EUR12 Mln via Share Placing
Faron Pharmaceuticals Oyj said Friday that it has raised 12
million euros ($13.1 million) via the share placing announced late
Treatt 1Q Sales Rose; Confident for Year Ahead
Treatt PLC said Friday that it has made a good start to fiscal
2023 with first-quarter sales rising in line with management
expectations, and is confident for the year ahead.
Stelrad Group to Report Record 2022 Adjusted Operating
Stelrad Group PLC said Friday that it expects to report a record
adjusted operating profit for 2022 on revenue that was boosted by
the acquisition of DL Radiators from August.
YouGov Sees FY 2023 Revenue In Line With Views
YouGov PLC on Friday said it expects to report full-year revenue
in line with consensus after a resilient first-half performance
given the tough macro environment.
Motorpoint 9-Month Revenue Rose; Gross Profit Per Unit Missed
Motorpoint Group PLC said Friday that its revenue for the first
three quarters of the year rose, helped by vehicle mix and price
inflation, though gross profit per unit missed expectations and it
expects to be negatively hit by macroeconomic factors.
Boston International Raises GBP80,000 via Directors' Share
Boston International Holdings PLC said Friday that it has raised
80,000 pounds ($99,280) via a subscription of shares by four
directors, including Chairman and Chief Executive Christopher
Lenta Names Vitaly Valkov as New Chief Commercial Officer
Lenta PLC said Friday that it has appointed Vitaly Valkov as
chief commercial officer, effective from Thursday.
Actual Experience Shares Rise as FY 2022 Pretax Loss Narrowed on
Shares of Actual Experience PLC rose Friday after the company
said that its fiscal 2022 pretax loss narrowed on lower operating
costs, though revenue fell.
Amigo Shares Drop as Capital Raise Still Not Secured
Shares in Amigo Holdings PLC fell 20% on Friday after the
company said it still hasn't secured a big enough investment
commitment to support the capital raise it needs to complete by May
26 to avoid a wind-down of the business.
Chesterfield Resources Shares Fall as Adeline Project Sale
Shares of Chesterfield Resources PLC fell as much as 22% on
Friday after the company said that Pacton Gold Inc. has pulled out
of the deal to buy the Adeline project as reported last October,
without providing any explanation.
Superdry Shares Drop as Stock Falls out of Favor With
0935 GMT - Superdry shares plunged by more than 15% after
issuing a full-year profit warning amid the tough economic outlook,
Interactive Investor says. The clothing brand's earnings downgrade
highlights the pressures facing U.K. consumers with sky-high
inflation and the economy teetering on the brink of a recession,
Interactive head of investment Victoria Scholar says in a market
comment. The stock has fallen out of favor with investors, which is
down by more than 90% over the past five years, the investment
platform says. "Despite enjoying a boost to warm winter clothing
demand and a record for jacket sales over Black Friday, investors
remain cautious," Scholar says. Shares are down 16% at 124.6 pence.
Motorpoint's Growing Headwinds Lead to Downgrades
0920 GMT - Motorpoint's third-quarter update confirms further
robust sales growth and a welcome return to positive volume growth
in December and January--but it hasn't been immune from further
macroeconomic headwinds pressuring gross profitability, Shore
Capital says. The vehicle retailer has cautioned on reductions in
finance commissions and rapidly falling electric vehicles, and
Shore cuts its fiscal 2023 current pretax profit forecast to
GBP200,000 from GBP6.5 million, Shore analysts Darren Shirley and
Clive Black say in a research note. "Motorpoint [has a share price]
which may prove undemanding when the U.K. economy and sentiment
recovers," the investment group says. Shore has Motorpoint as a
house stock. Shares are down 3.5% at 140.0 pence.
Superdry Looks on Track Despite Wholesale Missing the Mark
0858 GMT - Superdry's key highlight in its first-half results
was an outstanding Christmas business period, where the
autumn-winter collection drove a strong resurgence in retail
revenue--though wholesale lagged expectations, Liberum says. The
clothing brand's wholesale lag has led to an unexpected first-half
loss and a downgrade to fiscal 2023 views, but cash generation is
good, new banking facilities are in place and, other than
wholesale, the rest of the business is well on track, Liberum
analysts say in a research note. "The shares are cheap and offer
significant long-term value," the brokerage says. Liberum retains
its buy rating and 500 pence price target. Shares are down 15% at
127.0 pence. (email@example.com)
Contact: London NewsPlus; firstname.lastname@example.org
(END) Dow Jones Newswires
January 27, 2023 04:54 ET (09:54 GMT)
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