UKX

The FTSE 100 closed Friday down 1.26%, as fresh bank-crisis fears prompted losses in stocks around the world. The index was just one among a host of European markets that slipped as a renewed bout of selling of Deutsche Bank AG shares showed the takeover of Credit Suisse hasn't put a lid on the crisis, IG Group chief market analyst Chris Beauchamp says. Equally, a widening gulf between the expectations of the Federal Reserve and those of the market has prompted further losses, Beauchamp says. "It's not usually a sign of calm when the Fed and markets are singing from different hymn sheets, so investors should buckle up and prepare for more volatility ahead," Beauchamp says.

COMPANIES NEWS:

Games Workshop Declares Dividend

Games Workshop Group PLC said Friday that it has declared a dividend payout and that trading in the three months to the end of February has been in line with expectations.

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Smiths Group 1H Pretax Profit Rose as Revenue Beat Consensus, Lifts Full-Year Guidance Again

Smiths Group PLC said Friday that first-half fiscal 2023 pretax profit rose as revenue beat consensus, and again raised its revenue-growth guidance for the year.

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JD Wetherspoon Swung to 1H Pretax Profit as Sales Rose Above Prepandemic Levels

J.D. Wetherspoon PLC reported on Friday a swing to pretax profit for the first half of fiscal 2023 on the back of sales that were ahead of prepandemic levels.

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James Fisher & Sons to Report 2022 Revenue Rose, But Results Delayed to April

James Fisher & Sons PLC said Friday that it expects to report a rise in revenue for 2022, but that its results would be delayed a month and published April 28 instead of March 28.

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Tribal Group 2022 Pretax Profit Fell on Contract Delay; Cuts Dividend

Tribal Group PLC on Friday cut its final dividend on the back of lower profits due mainly to the delays and subsequent cancellation of its Nanyang Technological University contract in Singapore, and despite higher revenue.

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Quartix Technologies Starts 2023 in Line With Market Views

Quartix Technologies PLC said Friday that its performance in the first two months of 2023 has been in line with market views for the year.

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Warpaint Lifts Expectations After Strong 1Q Sales

Warpaint London PLC said Friday that it has lifted its expectations for 2023 as sales increased in the first quarter of the year.

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Caledonia Mining to Raise Up to $13 Mln to Fund Projects; Reports In-Line 2022 Earnings

Caledonia Mining Corp. said Friday that it plans to raise up to $13 million via share placings and will use the money to provide working capital to accelerate the planned work at three new gold projects in Zimbabwe.

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Ocean Wilsons 2022 Pretax Profit Fell on Decline in Value of Investment Portfolio

Ocean Wilsons Holdings Ltd. said Friday that 2022 pretax profit fell due to a decline in the valuation of its investment portfolio, and that in terms of uncertainty, the first quarter of 2023 was reminiscent of the year-prior period.

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San Leon Energy Expects to Complete Refinancing in Near Term

San Leon Energy PLC said Friday that it expects to complete its refinancing in the near term although the process has taken more than expected.

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Phoenix Copper Shares Fall as It Seeks to Issue Copper-Price-Linked Bonds, Secures $2 Mln Facility

Phoenix Copper Ltd. shares fell on Friday after it said that it is finalizing discussions regarding the placing of up to $80 million of corporate bonds linked to the copper price and that it has secured dollar working capital through a credit facility.

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Ceres Power 2022 Pretax Loss Widened on Higher Costs and Delayed Fees From China JV

Ceres Power Holdings PLC said Friday that its pretax loss widened in 2022 due to increasing operating costs, as revenue fell on a delay in incoming fees from its Chinese joint venture.

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Holders Technology Swung to Pretax Loss in FY 2022 on Investments

Holders Technology PLC said Friday that it swung to a pretax loss in fiscal 2022 as it invested more in the lighting control solutions business.

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IG Design Interim COO Lance Burn to Step Down

IG Design Group PLC said Friday that Lance Burn will step down from his role as interim chief operating officer and executive director on March 31.

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Supply@Me Capital Says Two Directors Resign, Intend to Buy Back TradeFlow Subsidiary

Supply@Me Capital PLC said Friday that directors Thomas James and John Collis tendered their resignation Thursday and that they intend to exercise their right to buy back 100% of the share capital of subsidiary TradeFlow, which was acquired in 2021.

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System1 Group Calls General Meeting for April 21 as Requested; Says to Vote Against Proposals

System1 Group PLC said Friday that it has called a general shareholder meeting for April 21 as requested by former Chief Executive Stefan Barden and former Chief Financial Officer James Geddes earlier this month.

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Accsys Taps Steven Salo as new CFO

Accsys Technologies PLC said Friday that it has appointed Steven Salo as chief financial officer and a member of the board with effect from April 1.

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Beacon Energy to List on London's AIM in April

Beacon Energy PLC said Friday that it intends to float on the London Stock Exchange's AIM as a result of a reverse takeover, and that it expects to raise 6.04 million pounds ($7.4 million) for drilling a development well and general capital requirements.

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Gemfields Group 2022 Boosted by Strong Postpandemic Demand

Gemfields Group Ltd. on Friday reported a 12% rise in net profit for 2022 on record revenue that was boosted by strong postpandemic demand and high prices, but warned that macro uncertainty could drag growth in 2023.

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GSK Disagrees With Court Ruling to Allow Plaintiff-Expert Testimony in Goetz Case

GSK PLC said Friday that it disagrees with a ruling in the Goetz case by the California state court late Thursday to allow the plaintiff's experts to testify, and said there is no consistent or reliable evidence that ranitidine increases the risk of any cancer.

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Microsoft-Activision Merger Won't Substantially Harm Gaming Consoles Competition in UK, Watchdog Says

The U.K. Competition and Markets Authority said Friday that new evidence provisionally alleviates its previous concerns over the supply of gaming consoles in the U.K. and it has therefore narrowed the scope of its investigation into Microsoft Corp.'s planned $75 billion acquisition of Activision Blizzard Inc.

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In the Style Shares Fall After Business Sale Approved

In The Style Group PLC shares fell on Friday after the company said shareholders had approved the sale of its operating business at its annual general meeting, but that the resolution to cancel its shares didn't pass.

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Caledonia Mining Raises $10.6 Mln via Share Placing, More Than Planned

Caledonia Mining Corp. said Friday that it has raised $10.6 million via the share placing first announced this morning, more than initially planned due to strong investor support.

MARKET TALK:

Next's FY 2023 Profit Set to Increase; Sales and Costs in Focus

1453 GMT - Next's fiscal 2023 profit is expected to increase on the back of higher prices but investors might focus on the fiscal 2024 outlook and sales trends, AJ Bell investment director Russ Mould and head of financial analysis Danni Hewson say in a note. After the fashion retailer reported a robust Christmas, analysts currently estimate fiscal 2023 full-price sales growth of 6.9%, they say. Sales mix will be also in focus given previous signs of consumers shifting to physical stores, they add. Next's upgraded pretax profit forecast for fiscal 2023 aims for a 5% increase from GBP822 million reported the previous year, they say. However, profit in fiscal 2024 is expected to fall 8% on higher costs, they add. (michael.susin@wsj.com)

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JD Sports Could Benefit From Nike's Direct-Sales Strategy

1414 GMT - JD Sports Fashion could benefit from Nike's strategy as it remains the U.S. sportswear company's partner of choice, Shore Capital analysts Eleonora Dani and Clive Black say in a note. Even brands like Nike that have a direct-to-consumer strategy still need the fashion retailer's physical presence to showcase their products and remain relevant with consumers, the analysts say. "While Nike's DTC strategy continues at pace, with more than 40% of revenues now coming from direct sales, the strategy has created a vacuum at the relatively undifferentiated retailers, like Foot Locker, that On and other brands are exploiting," they say. (michael.susin@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; ina.kreutz@wsj.com

(END) Dow Jones Newswires

March 24, 2023 13:09 ET (17:09 GMT)

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