FTSE 100 Drops as Travel Stocks Fall; Oil Shares Gain
0813 GMT - The FTSE 100 Index drops 1.2%, or 80 points to 6813
as travel stocks fall amid rising crude prices, though oil stocks
gain. Carnival, TUI, IAG and easyJet drop as the price of a barrel
of Brent crude advances 4.3% to $88.80, though BP, Shell and
Harbour Energy are among the biggest blue-chip risers. "European
markets have opened lower with the FTSE 100 under pressure,"
Interactive Investor Head of Investment Victoria Scholar writes.
"Oil giants Shell and BP are bucking the weakness on reports that
OPEC+ could be planning a significant output cut."
(philip.waller@wsj.com)
Top News:
U.K. Makes Major U-Turn on Tax Cuts
The U.K. government said it won't proceed with the removal of a
45% top rate of income tax, removing a key element of a plan
announced late last month that triggered turmoil in the country's
financial markets.
Companies News:
James Halstead FY 2022 Pretax Profit, Revenue Rose; New Year
Started Well
James Halstead PLC said Monday that its fiscal 2022 pretax
profit and revenue rose on sales growth and despite increased
costs, and the new year has begun well.
---
Halma Acquires IZI Medical Products in US
Halma PLC said Monday that it has acquired IZI Medical Products,
a designer, manufacturer and distributor of medical consumable
devices headquartered in Maryland in the U.S., for an initial
consideration of $153.5 million in cash.
---
QinetiQ to Buy Air Affairs for $33.9 Mln; To Sell Belgian
Division for $31.4 Mln
QinetiQ Group PLC said Monday that it has agreed to buy Air
Affairs (Australia) Pty for 53 million Australian dollars ($33.9
million) in cash, and that it will sell QinetiQ Space NV for 32
million euros ($31.4 million) in cash.
---
Argentex Expects Higher 1H Revenue
Argentex Group PLC said Monday that it expects to report a rise
in revenue for the first half and the board is confident the
company will exceed current market expectations for the year.
---
Renew Holdings Sees FY 2022 Adjusted Profit Ahead of Views
Renew Holdings PLC said Monday that it expects performance for
fiscal 2022 to be marginally ahead of market expectations despite
the current inflationary backdrop.
---
Genel Energy Appoints New CEO
Genel Energy PLC said Monday that it has appointed Paul Weir as
chief executive with immediate effect.
---
Pelatro Chairman Richard Day Resigns
Pelatro PLC said Monday that Richard Day has decided to resign
as chairman of the board.
---
Real Good Food FY 2022 Loss Widens; Sees Challenging Year
Ahead
Real Good Food PLC said Monday that fiscal 2022 pretax loss
widened on a significant one-off impairment charge, and it expects
fiscal 2023 to remain loss-making.
---
Tortilla Mexican Grill Warns Industry Headwinds Will Hurt 2H
Profitability; Shares Fall
Shares in Tortilla Mexican Grill PLC fell Monday after it said
that industry headwinds will hurt profitability in the second half
as it reported a fall in pretax profit for the first half on higher
costs.
---
Essentra CEO Paul Forman to Step Down; Scott Fawcett Named
Successor
Essentra PLC said Monday that Chief Executive Paul Forman has
decided to step down at the end of 2022, to be succeeded by Scott
Fawcett, managing director of the components division.
---
Peel Hunt Expects 1H Revenue to Fall on Lower Capital Markets
Activity
Peel Hunt Ltd. said Monday that it expects to report a fall in
revenue for the first half of fiscal 2023 due to a market-wide
backdrop of historically low levels of capital markets activity
throughout the period.
---
Investec to Repurchase Up to $66 Mln Worth of Shares in Capital
Optimization
Investec PLC said Monday that it will repurchase up to 1.2
billion South African rand ($66.3 million) worth of shares, as part
of its capital optimization strategy.
---
Essentra to Sell Filters Business for GBP262 Mln; Will Pay
Special Dividend
Essentra PLC shares rose Monday after it said it will sell its
filters business to a subsidiary of Centaury Management Ltd. for an
enterprise value of around 262.1 million pounds ($292.7 million),
and will pay a special dividend.
---
STM Group Appoints Interim CEO
STM Group PLC said Monday that Therese Neish has been appointed
as interim chief financial officer and that she will also join the
board on an interim basis.
---
Hyve Group Confident in FY 2023 Outlook on Forward Bookings
Hyve Group PLC said Monday that it is confident in its fiscal
2023 outlook due to the continued positive performance of its
business.
---
IDOX Buys LandHawk Software Services for GBP1.1 Mln
IDOX PLC said Monday that it has bought LandHawk Software
Services Ltd. for 1.1 million pounds ($1.2 million), enhancing its
geospatial information services, or GIS, offering.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 03, 2022 04:30 ET (08:30 GMT)
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