UKX

FTSE 100 Recovers as Rescue Deal For SVB Lifts Sentiment

0752 GMT - The FTSE 100 rises 0.6% to 7447 points, recovering after sustaining losses at the end of last week as a sharp rise in the cost of Deutsche Bank's credit-default swaps sparked fresh banking sector worries. The recovery comes as U.S. stocks are expected to open higher after First Citizens Bank agreed to purchase large parts of the assets of collapsed U.S. bank Silicon Valley Bank. "It remains to be seen whether this relief rally is justified until such time as the planks of banking uncertainty can be removed once and for all, leading to an improvement in investor confidence which is currently in scant supply," Interactive Investor analyst Richard Hunter writes. (renae.dyer@wsj.com)

COMPANIES NEWS:

Belvoir 2022 Pretax Profit Fell on Higher Costs, Raises Dividend

Belvoir Group PLC said Monday that pretax profit in 2022 slightly fell amid higher costs, and that it has increased its dividend payout.

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EDF's Acquisition of GE Operations Probed by UK Antitrust Watchdog

The U.K.'s competition regulator said Monday that it is looking into Electricite de France SA's deal to buy General Electric Co.'s nuclear steam-power business.

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Hyve Sees 1H Revenue of GBP95 Mln-GBP100 Mln

Hyve Group PLC said Monday that performance in its fiscal first half has been in line with its expectations after it ran a full schedule of events and that revenue in the period is seen at 95 million to 100 million pounds ($116.2 million-$122.3 million).

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Plexus Holdings 1H Pretax Loss Widened on Higher Costs, Expects Full-Year Revenue Below Views

Plexus Holdings PLC said Monday that its pretax loss for the first half of fiscal 2023 widened on higher costs, and that revenue for the year will be materially lower than market expectations.

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Technology Minerals Raises GBP2.5 Mln from New Investor

Technology Minerals PLC said Monday that it has raised 2.5 million pounds ($3.1 million) via a share subscription and loan note issue with a new investor and will use the money toward its battery metals mining assets.

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Dialight 2022 Pretax Profit Fell Despite Revenue Rising on Volume, Price Increases

Dialight PLC said Monday that pretax profit fell in 2022 as its margins were hit by inflation and supply-chain problems, but that revenue rose on increases in volume and pricing.

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CML Microsystems Sees FY 2023 Revenue, Profit in Line

CML Microsystems PLC said Monday that it expects to report performance in line with market expectations for fiscal 2023, with revenue of around 20.5 million pounds ($25.1 million) and pretax profit close to GBP3.1 million.

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Tlou Energy Raises A$200,000 to Fund Lesedi Project in Botswana

Tlou Energy Ltd. said Monday that it has raised 200,000 Australian dollars (US$132,920) via the issue of shares and will use the money toward the development of its Lesedi project in Botswana.

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Thungela Resources 2022 Profit Rose on Increased Coal Prices

Thungela Resources Ltd. said Monday that 2022 profit rose as revenue surged on a significant increase in the price of coal, and that because of South Africa's Transnet Freight Rail's performance it was resetting its 2023 production outlook.

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Pressure Technologies to Miss Reporting Deadline; Shares to be Halted April 3

Pressure Technologies PLC said Monday that it won't be able to meet the March 31 deadline to publish its fiscal 2022 accounts and that its shares will therefore be suspended from trading on April 3.

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Northamber 1H Pretax Loss Widened on Higher Costs

Northamber PLC said Monday its pretax loss for the first half of fiscal 2023 widened on higher costs, and that the board remains cautious due to economic uncertainty.

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Tortilla Mexican Grill Swung to 2022 Pretax Loss on Inflationary Costs

Tortilla Mexican Grill PLC said Monday that it swung to a pretax loss in 2022 due to inflationary costs, but that revenue rose 20% on year and that trading in 2023 so far has been in line with expectations.

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Severfield Sees FY 2023 in Line After Strong 2H

Severfield PLC said Monday that it expects to report fiscal 2023 performance in line with expectations after booking a strong second half.

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IQGeo Group 2022 Pretax Loss Narrowed on Increased Sales

IQGeo Group PLC said Monday that pretax loss for 2022 has narrowed on the back of improved sales and broad-based progress across all segments.

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RTC Group Shares Fall on Swing to Pretax Loss

Shares in RTC Group PLC fell Monday after the company said it swung to a pretax loss due to a challenging first half of 2022.

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Equals Group Earnings, Revenue Rose in 2022; Buys Oonex for Up to GBP4.1 Mln

Equals Group PLC said Monday that revenue and earnings grew in 2022 and that it was buying payments-services provider Oonex SA.

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Tandem Shares Fall After 1Q Sales Were Worse Than Expected, 2022 Profit Declined

Tandem Group PLC shares fell on Monday after the company said sales have been slower than expected at the start of the year and reported a fall in pretax profit for 2022.

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Sirius Real Estate Appoints Chris Bowman as CFO

Sirius Real Estate Ltd. said Monday that it has appointed Chris Bowman as chief financial officer with effect on Aug. 29.

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Merit Group's Shares Rise After Selling Lease at London's Shard

Shares of Merit Group PLC rose 17% in early trade on Monday after the company said that it has sold its London office lease at The Shard, saving it 2.3 million pounds ($2.8 million) over the remaining term and after paying for new premises and other costs.

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Helium One 1H Pretax Loss Widened on Higher Costs

Helium One Global Ltd. said Monday that its pretax loss for the first half of fiscal 2023 widened as administrative costs rose.

MARKET TALK:

Tortilla Mexican Grill Lacks Clear Near-Term Catalysts, Shore Capital Says

0819 GMT - Tortilla Mexican Grill's 2022 results were in line with expectations, and given there are no clear catalysts in the near term, no substantial upgrades should be expected, Shore Capital analysts Bradley Hughes and Greg Johnson write in a research note. The U.K. fast-casual Mexican restaurant achieved like-for-like revenue growth slightly ahead of expectations, 16.4% against Shore Capital's 16.0% forecast, and its fourth quarter was encouraging despite a challenging backdrop, Shore Capital says. "We don't sense, at first glance, that the update today will lead to material changes to our forecasts...nor do we see a clear catalyst for upgrades," the analysts say. Shore Capital expects revenue of GBP72 million and adjusted Ebitda of GBP4.7 million in 2023. Shares are unchanged at 120 pence. (christian.moess@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

March 27, 2023 04:43 ET (08:43 GMT)

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