UKX FTSE 100 Index

The FTSE 100 blue-chip index closed Friday up 0.05% lifted by upbeat oil-linked stocks, which offset a drag on the mining sector as the central bank meetings scheduled next week prompted caution among investors. Sainsbury's lead the index up 5.7% after Bestway Group bought a 3.45% stake in the U.K. supermarket. On the other side of the table, Rolls-Royce shares closed down 2.9% after the new CEO said the company was a "burning platform," CMC Markets chief market analyst Michael Hewson says. "Rhetoric and tone are important when describing a business, especially one that is responsible for engine safety," Hewson adds.

Companies News: 

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 effect.

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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).

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Superdry Cuts FY 2023 Profit Guidance After Swing to 1H Pretax Loss

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.

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On the Beach FY 2023 Year-to-Date Holiday Sales Up 68% Vs Year Earlier Period

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.

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Avon Protection 1Q Revenue Rose, Says Order Pipeline is Strong

Avon Protection PLC said Friday that its first-quarter revenue rose and that it has a strong pipeline for its leading respiratory products.

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Paragon Banking 1Q New Lending Rose; Raises FY 2023 Interest Margin Guidance

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.

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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 Thursday.

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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.

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Stelrad Group to Report Record 2022 Adjusted Operating Profit

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.

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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.

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Motorpoint 9-Month Revenue Rose; Gross Profit Per Unit Missed Expectations

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.

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Boston International Raises GBP80,000 via Directors' Share Subscription

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 Pitman.

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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.

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Actual Experience Shares Rise as FY 2022 Pretax Loss Narrowed on Lower Costs

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.

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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.

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Chesterfield Resources Shares Fall as Adeline Project Sale Collapses

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.

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Taylor Maritime 3Q Net Asset Value Slipped on Weak Charter Market

Taylor Maritime Investments Ltd. on Friday said its fiscal 2023 third-quarter net asset value per share edged down on a subdued charter market, but that it sees a positive outlook for the next couple of years.

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Sovereign Metals Says Mkango Project Approval Could Be Encouraging Sign for Kasiya Project

Sovereign Metals Ltd. said Friday that Mkango Resources Ltd.'s announcement that it has received approval from the Malawi Environmental Protection Authority for its Songwe Hill rare earths project could be seen as an encouraging sign for its own Kasiya rutile project in Malawi.

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Vertical Aerospace Names John Martin New Finance Chief

Vertical Aerospace Ltd. said Friday it has appointed John Martin as finance chief.

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Land Securities Sells Central London Building for GBP350 Mln

Land Securities Group PLC said Friday that it has completed the sale of its One New Street Square building to Hong Kong-based developer Chinachem Group for 349.5 million pounds ($433.7 million).

 
Market Talk: 

Direct Line's CEO Takes on Stock Plunge Blame, Says AJ Bell

1031 GMT - It was what lay behind Direct Line's dividend scrapping that did it for Penny James, says AJ Bell in a market comment after the non-life insurer said its CEO stepped down. "You can't walk away from the kind of stock market disaster served up by Direct Line this month without a senior executive carrying the can," says investment director Russ Mould, adding the group's statement remains open to interpretation on whether "she jumped or was pushed". The group left its capital buffers too bare to cope with 2022's extreme weather events as it bought back its own shares during the year and put itself in a perilous position, he says. Shares are down 0.8% at 177.35 pence, having lost 20% year to date. (elena.vardon@wsj.com)

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Paragon Banking's Net-Interest-Margin Guidance Hike Looks Like a Confident Move, Jefferies Says

1117 GMT - Paragon Banking's early net-interest-margin guidance increase signals confidence, Jefferies says in a note. The specialist property-and-business lender raised its view to 25 basis points from 20 bps after a first-quarter boost in new lending. "This is clearly positive, and to do it so early in the year indicates a high level of confidence," say analysts at the brokerage. It rates the stock buy and sees its 700-pence price target as within reach though it holds off on changing forecasts given second-quarter lending levels may be lower since the September quasi-budget closed the mortgage market for October. Shares rise 2.1% to 597.0 pence. (elena.vardon@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

January 27, 2023 12:15 ET (17:15 GMT)

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