FTSE 100 Rises as Miners, Oil Stocks Gain
The FTSE 100 Index rises 0.1%, or nine points to 7300 on the back of gains for mining and oil stocks. BHP, Anglo American, Antofagasta, Rio Tinto and Glencore are all among the biggest risers as the prices of precious metals and some base metals advance. BP and Royal Dutch Shell are also in positive territory as the price of a barrel of Brent crude increases 0.5% to $75.52. "Asian markets made further gains overnight and European and U.S. markets look reasonably strong as the day gets underway," IG analysts say.
Companies News:
Dunelm Group CFO Laura Carr to Step Down
Dunelm Group PLC said Monday that Chief Financial Officer Laura Carr has informed the board that she will be leaving her role.
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Tristel Says FY 2022 Is on Track to Be in Line With Market Expectations
Tristel PLC said on Monday that is on track to be in line with market expectations for the fiscal 2022, helped by a normalization of diagnostic procedures on the first half of the year.
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Next Fifteen Communications Sees Full-Year Results Ahead of Expectations After Strong 3Q
Next Fifteen Communications Group PLC said Monday that it anticipates beating management expectations for the full year after booking strong revenue growth in the third quarter.
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Eqtec Cuts 2021 Revenue Guidance on Project Deferrals
Eqtec PLC on Monday said that its 2021 revenue will be lower than previously guided, after it decided to defer financial close for its Billingham and Deeside projects in the U.K. to next year.
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C4X Discovery FY 2021 Pretax Loss Narrowed on Higher Revenue
C4X Discovery Holdings PLC on Monday reported a narrowed pretax loss for fiscal 2021 as revenue increased in the period due to a license deal with Sanofi.
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Spinnaker Acquisitions to Buy HomeServe Labs in Reverse Takeover
Spinnaker Acquisitions PLC said Monday that it has conditionally agreed to buy HomeServe Labs Ltd. from HomeServe PLC via a reverse takeover, and that it has therefore requested the temporary suspension of trading of its shares.
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Homeserve Sells Policy Book to Piedmont for $22 Mln
Homeserve PLC said that its U.S. subsidiary has entered into an agreement to sell to Piedmont Natural Gas Company Inc. the book of policies built during the two companies' partnership, which will end in April, for around $22 million.
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Tungsten Corp Shares Fall After $1.5 Mln US Employment Claim Settlement
Shares in Tungsten Corp. fell on Monday after the company said that it has agreed to pay $1.5 million as settlement of an employment claim made against it in the U.S., as well as $513,000 in associated legal fees.
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Public Policy Holding Raises GBP11.1 Mln in London IPO
Public Policy Holding Company, Inc. said Monday that it has raised 11.1 million pounds ($14.7 million) as part of its initial public offering on London's junior AIM, with trading expected to start on Thursday.
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Taylor Maritime to Buy Stake in Grindrod Shipping for $77.9 Mln
Taylor Maritime Investments Ltd. said Monday that it will acquire a 22.6% stake in Grindrod Shipping Holdings Ltd. for $77.9 million.
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Tungsten Corp. Swung to 1H Pretax Profit
Tungsten Corp. said Monday that it swung to a pretax profit after booking lower costs for the first half of fiscal 2022, but that customer wins in the period were below expectations.
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DSW Capital Prices London IPO at 100 Pence a Share; Trading Expected Thursday
DSW Capital PLC on Monday priced its initial public offering on London's junior AIM at 100 pence a share, implying a market capitalization of 21.4 million pounds ($28.4 million) when trading starts on Thursday.
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Byotrol Appoints Chris Sedwell as CFO
Byotrol PLC said Monday that it has appointed Chris Sedwell as its new chief financial officer.
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Rockhopper Exploration CFO Stewart MacDonald to Step Down
Rockhopper Exploration PLC said Monday that Chief Financial Officer Stewart MacDonald intends to step down and join another company.
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Triple Point Income Sells Achnacarry Hydro Ltd. for GBP10.7 Mln
Triple Point Income VCT PLC said Monday that it has completed the disposal of hydroelectric asset Achnacarry Hydro Ltd. for 10.7 million pounds ($14.2 million).
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Hawkwing Withdraws From Internet Fusion Group Takeover
Hawkwing PLC said Monday that it has withdrawn from reverse-takeover negotiations with Internet Fusion Group Ltd.
Market Talk:
Dollar Rises, Euro and Pound Fall as Traders Await Central Bank Meetings
0830 GMT - The dollar rises ahead of a busy week for central bank meetings. Wednesday's Federal Reserve announcement should lift the U.S. currency while Thursday's decisions by the European Central Bank and the Bank of England are likely to dent the euro and pound, says UniCredit. The dollar "is likely to benefit from the Fed announcing an acceleration in the speed of its tapering process," it says. This prospect, combined with the ECB likely remaining "quite accommodative" should continue to weigh on EUR/USD. The Bank of England is likely to delay plans to start raising interest rates, which won't help the pound, UniCredit says. The DXY dollar index rises 0.2% to 96.2780, while EUR/USD falls 0.2% to 1.1288 and GBP/USD loses 0.2% to 1.3237.
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Royal Mail's Near-Term Risks Are Seen on the Upside
0712 GMT - The pandemic has meant that Royal Mail's profitability is now largely driven by parcels rather than letters, Berenberg says. With any increase in pandemic restrictions through winter benefiting its U.K. and European business, near-term risks are on the upside and cost inflation is largely in check for the meantime, the German brokerage says. "With the stock trading on extremely low multiples and headwinds very well flagged, we think the risk/reward now appears more attractive on a 12 to 24 month view than we have ever seen it for the company," it adds. Berenberg raises its rating on the stock to buy from hold and its target price to 650 pence from 530 pence.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
12-13-21 0449ET
