The FTSE 100 closed down 0.2% to 7558 on Wednesday, breaking a
three-day positive territory streak, dragged by a fall in
oil-exposed stocks despite an oil price increase. "The recent
strength of the pound may be a factor here, acting as a drag on
those big U.S. dollar earners," CMC Markets chief market analyst
Michael Hewson says in a research note. The blue-chip index's fall
also offset early trade optimism around U.S. Fed signs of slowing
down the rate increases in December, he notes. Consumer-focused
Ocado leads the table, up 6.8% after its U.S. digital partner
Kroger upgraded its full-year guidance supported by a robust rise
in digital sales, Hewson adds. On the opposite side of the table,
Pearson fell 5.2% followed by Rolls-Royce, down 4.4%. Oil companies
Shell and BP closed in the red, down 2.5% and 1.6%
Likewise Sales Rose on Year in October, November; Backs
Likewise Group PLC said Thursday that sales rose 28% on year in
October and November on a like-for-like basis, and that it is on
course to meet medium-term objectives.
AJ Bell FY 2022 Pretax Profit Rose; Increases Dividend
AJ Bell PLC on Thursday posted a rise in its pretax profit for
fiscal 2022 and said it was increasing its dividend.
Hotel Chocolat Swung to FY 2022 Pretax Loss; Chairman, CFO to
Hotel Chocolat Group PLC on Thursday reported a swing to a
pretax loss for fiscal 2022 on higher exceptional costs, though
revenue rose, and said that its chairman and chief financial
officer will step down in 2023.
Creightons Swung to 1H Pretax Loss
Creightons PLC on Thursday reported a pretax loss and slightly
lower revenue for the first half of fiscal 2023 and said it
wouldn't propose an interim dividend, citing volatile economic
conditions and the need for caution on the use of cash
Deepmatter to Seek Shareholder Approval to Delist on AIM, Raise
Deepmatter Group PLC said Thursday that it is seeking
shareholder approval to cancel trading of its shares on London's
junior AIM and for a 1 million pound ($1.2 million) share
subscription, as previously flagged.
Mortgage Advice Bureau Sees 2022 Profit Missing Views Amid
Mortgage Advice Bureau (Holdings) PLC said Thursday that written
business in October and November were 50% below its expectations
due to macroeconomic turmoil, and it expects full-year adjusted
pretax profit to slightly miss expectations.
Eqtec Deeside Project Sale Falls Through, Cuts 2022 Revenue
View; Shares Fall
Eqtec PLC shares fell Thursday after it said it has been unable
to reach mutually acceptable terms for the sale of the Deeside
waste energy project in the U.K. with a corporate investor and
lowered its full-year revenue forecast.
Peel Hunt 1H Pretax Profit Hit by Low Market Activity
Peel Hunt Ltd. on Thursday reported a significant fall in pretax
profit for the first half of fiscal 2023, which was hurt by
challenging market conditions and historically low levels of
activity, but said it is well- positioned for growth when markets
Essensys Sees FY 2023 Meeting Market Views After 1Q Revenue
Essensys PLC said Thursday that its revenue grew 22% on year for
the first quarter of fiscal 2023, and that it remains confident in
meeting market expectations for the full year.
Tribal Group 2022 Earnings to Come in Below Expectations
Tribal Group PLC on Thursday said Ebitda for the year should
come in substantially below expectations due to the negative impact
of a contract with Nanyang Technology University in Singapore,
extra costs and wage inflation.
CyanConnode Sees 1H Performance, Full-Year Revenue Meeting
CyanConnode Holdings PLC said Thursday that its performance for
the first half of fiscal 2023 met market expectations, and it
expects full-year revenue to also meet consensus views.
Venture Life Shares Rise Amid HL Healthcare Purchase,
Expectations of Meeting 2022 Views
Venture Life Group PLC shares rose Thursday after the company
said it bought manufacturer HL Healthcare Ltd. for 13 million
pounds ($15.7 million), and that it expects to deliver 2022 results
in line with market views.
Triad Group Shares Fall on Swing to 1H Pretax Loss, Revenue
Shares of Triad Group PLC fell Thursday after the company said
that it swung to a pretax loss and revenue fell for the first half
of fiscal 2023, although the second half has begun well.
Hotel Chocolat Looks Set for Long-Term Value Creation
1139 GMT - Hotel Chocolat's FY 2022 swing to pretax loss was
expected by the market but the group also delivered a three-year
compound annual growth rate of 29% in sales, a key figure to
evaluate long-term value creation, Liberum analysts Wayne Brown and
Adam Tomlinson say in a note. The U.K. chocolatier's reshape of the
business and strategy is reducing several exceptional costs, the
analysts say. Given the compound sales growth, FY 2023 is expected
to be a transitory moment as Hotel Chocolat focuses on profit and
cash flow generation from what is now a much higher revenue base,
they add. Liberum has a buy rating on the stock. Hotel Chocolat
shares are up 2%. (firstname.lastname@example.org)
UK House Price Growth Slows but Market Won't Halt, OnTheMarket
1022 GMT - The U.K. house market's inevitable rebalancing
continues, OnTheMarket Chief Executive Jason Tebb says in a market
comment after building society Nationwide released its latest data.
According to Nationwide, annual U.K. house price growth continued
to slow in November to 4.4% and prices fell 1.4% on month. The
average property seeking consumer's confidence will be hit by
upheaval from macroeconomic challenges and chatter around mortgage
rates, which are coming down but are still higher than we're used
to, the OnTheMarket boss says. "However, people move for many
different reasons and that's not going to change, even in
challenging conditions," Tebb says. "Experienced local agents are
coming into their own, guiding sellers through a tougher market,
which will level out in time." (email@example.com)
Contact: London NewsPlus; firstname.lastname@example.org
(END) Dow Jones Newswires
December 01, 2022 12:26 ET (17:26 GMT)
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