UKX FTSE 100 Index

UK Building Shares Drop After Activity Falls in January

1305 GMT - U.K. house builders drop after data showed that U.K. construction activity shrinking for the second month in a row in January. Sharply lower house building caused the fastest fall in construction output since May 2020, according to the S&P Global/CIPS U.K. Construction PMI, with the index dropping to 48.4 from 48.8 in December, below the level of 50 marking expansion. "The housing-market slowdown and an outright fall in house prices over recent months means new home construction prospects have deteriorated," EY Item Club chief economic advisor Martin Beck writes. "High inflation and falling household real incomes are likely to discourage spending on home improvements. Higher interest rates are affecting construction firms' balance sheets." Taylor Wimpey is the sector's biggest faller, down 3%. (philip.waller@wsj.com)

Companies News: 

Diageo Launches Tender Offer to Increase Stake in East African Breweries

Diageo PLC said Monday that it has launched a partial tender offer to increase its stake in East African Breweries PLC to up to 65% from the 50.03% currently owned through its subsidiary Diageo Kenya Ltd.

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Croda International Buys Solus Biotech for GBP232 Mln

Croda International PLC said Monday that it has agreed to buy Solus Biotech from Solus Advanced Materials Co. for around 232 million pounds ($279.7 million) to expand its Asian manufacturing capability.

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Bonhill Gets InvestmentNews Offer, Ends Sales Process; Sees 2022 Revenue Falling

Bonhill Group PLC said Monday that it has concluded a formal sales process and it has received an offer for InvestmentNews LLC, and it expects 2022 revenue to fall.

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88 Energy Raises A$17.5 Mln via Discounted Share Placing

88 Energy Ltd. said Monday that it has raised 17.5 million Australian Dollars (US$12.1 million) via an oversubscribed share placing and will use the money toward the planned Hickory-1 well at Project Phoenix, expansion opportunities and for working capital.

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Seeen to Report Narrowed 2022 Loss Despite Revenue Fall; Secures New Contract

Seeen PLC said Monday that it expects to report narrowed adjusted losses for 2022 despite a fall in revenue, and that it has secured a new contract expected to generate $1 million a year.

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Just Group Says Targets Remain Unchanged Under IFRS 17

Just Group PLC on Monday said that its growth targets, cashflows and dividend policy remain unchanged under the IFRS 17 accounting standards implemented on Jan. 1.

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3i Infrastructure to Raise Funds to Partly Repay Debt, for Investments

3i Infrastructure PLC said Monday that it is planning to raise funds via a share placing and will use part of the money to repay a debt facility and toward future investments.

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B90 Holdings Sees 2022 Revenue of More Than $2.3 Mln; Raises Around $600,000

B90 Holdings PLC said Monday that it expects to report revenue for 2022 of slightly more than 2.1 million euros ($2.3 million) and a narrowed loss on year after the business continued to perform in line with management expectations during the second half.

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Cora Gold to Raise at Least $19.6 Mln to Develop Sanankoro Gold Project in Mali

Cora Gold Ltd. said Monday that it plans to raise at least $19.6 million through an equity fundraising and convertible loan notes, with the proceeds to be used toward the development of the Sanankoro gold project in Mali.

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EKF Diagnostics Sees 2022 Adjusted Ebitda Missing Market Views; CEO Steps Down

EKF Diagnostics Holdings PLC said Monday that it expects to report that 2022 adjusted earnings slightly missed market views, and that Chief Executive Officer Mike Salter will step down immediately.

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Engage XR to Raise up to GBP9.4 Mln via Share Placing, Subscription

Engage XR Holdings PLC said Monday that it is planning to raise up to 9.4 million pounds ($11.3 million) via a share placing and subscription and will use the money toward working capital and general corporate purposes, and for sales and marketing.

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Plant Health Care 2022 Ebitda Loss Narrowed on Higher Revenue

Plant Health Care PLC said Monday that its 2022 core earnings loss narrowed as revenue rose on higher demand for its products.

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Vast Resources Shares Fall on Discounted GBP2.4 Mln Fundraise

Vast Resources PLC shares fell Monday after the company said it has raised 2.4 million pounds ($2.9 million) through a placing and subscription, to be used on its Romanian polymetallic mine.

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Iofina Shares Rise on Expectations for 2022 Earnings Beating Market Views

Iofina PLC shares rose Monday after the iodine producer said it expects to report 2022 earnings materially ahead of market views, with revenue in line.

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Hummingbird Resources' Shares Rise on 4Q Production Boost -- Commodity Comment

Shares of Hummingbird Resources PLC rose 11% on Monday after the company reported a 67% rise in production over the last quarter of 2022 and said that it expects improved cash flow generation and a stronger balance sheet this year. Here's what the AIM-listed mining company had to say:

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Sosandar Nonexecutive Chairman Bill Murray Dies

Sosandar PLC said Monday that Nonexecutive Chairman Bill Murray died over the weekend.

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Oracle Power Shares Drop on Discounted Share Placing

Shares in Oracle Power PLC fell 19% on Monday after the company said it has raised 500,000 pounds ($602,800) via a discounted share placing, with the proceeds to be used to support the development of its green-hydrogen project in Pakistan.

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Zamaz Shares Rise After Termination of Convertible Loan Note Facility

Zamaz PLC shares rose Monday after it said it has terminated its convertible loan note facility with Atlas Capital Markets through mutual agreement.

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Eqtec Expects to Meet 2022 Revenue Guidance

Eqtec PLC said Monday that it expects 2022 revenue to meet guidance.

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Trellus Health Chairman Steps Down, Daniel Mahony Named Successor

Trellus Health PLC said Monday that Nonexecutive Chairman Julian Baines will stand down from the board with immediate effect, with Senior Independent NonExecutive Director Daniel Mahony named successor.

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Greatland Gold Names New COO, Chief Development Officer

Greatland Gold PLC said Monday that it has appointed Simon Tyrrell as chief operating officer and Jeremy Meynert as chief development officer.

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Shanta Gold Names Michal Devine as New CFO, Honest Mrema as COO

Shanta Gold Ltd. on Monday said Michal Devine will become chief financial officer on March 23 as Luke Leslie steps down from the role to pursue other opportunities.

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Australia's Recharge Industries Set to Take Over Britishvolt

Australian battery firm Recharge Industries Pty Ltd. is set to take over Britishvolt Ltd., the embattled U.K.-based battery startup which was forced into administration last month following a cash crisis that emerged through 2022.

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BP Expected to Deliver Strong 4Q After Shell Outperformance -- Earnings Preview

BP PLC is scheduled to report results for the fourth quarter on Tuesday. Here's what you need to know:

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ADVFN Finance and Technical Director Jon Mullins Steps Down

ADVFN PLC said Monday that Jon Mullins will step down from his position as finance and technical director with immediate effect.

 
Market Talk: 

European Stocks Fall Ahead of Expected Lower US Open

1140 GMT - European stocks drop after mostly downbeat trading and ahead of likely U.S. losses. The Stoxx Europe 600, CAC 40 and DAX retreat more than 1% and the FTSE 100 falls 0.9%, with property stocks among the biggest pan-European fallers, though banks gain. Brent crude rises 0.4% to $80.24 a barrel. IG futures data show the Dow opening at 33670, versus Friday's lower close of 33926. "Asian equities had their worst day in three months overnight, retreating broadly as markets reacted to last week's impressive U.S. non-farm payroll reading," IG analysts write. "The huge number of jobs created and the lowest unemployment level in over half a century poured cold water on the idea that the Fed would pause its hiking efforts." (philip.waller@wsj.com)

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UK Gilt Yields Rise, Reversing Some of Last Week's Sharp Falls

1218 GMT - U.K. gilt prices fall, causing yields to move higher, as traders take profit on last week's rally in bond prices following the rate increases and accompanying statements by the U.S. Federal Reserve, the Bank of England and the European Central Bank. "The gilt market is reacting after the sharp rally last week. It's happening across markets, equities are also down," says RBC global macro strategist Peter Schaffrik. The 10-year gilt yield is up 14bps at 3.209% while the 2-year gilt yield is up around 12bps at 3.390%, according to Tradeweb. (miriam.mukuru@wsj.com)

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BP Buybacks, Operations, Renewables to Provide FY Focus

1313 GMT - BP share buybacks, operational issues and renewable-energy strategy look set to occupy investors at full-year results on Feb. 7. BP looks set to generate negative surplus cash flow of $2.2 billion this quarter which could imply a step-down in its buyback run-rate, RBC Capital Markets says. BP has faced several operational issues during the quarter which could affect results, though investors are aware of them, RBC says. Meanwhile, news reports have suggested BP might take a step back in its renewables push, the Canadian bank says. "We think this makes sense as we've repeatedly noted the energy transition isn't going to be linear, with issues of energy security and the cost of energy now front and center," RBC analysts write. (philip.waller@wsj.com)

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(END) Dow Jones Newswires

February 06, 2023 09:02 ET (14:02 GMT)

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