BOE's Bailey Could Move Sterling But Only Briefly
0920 GMT - Sterling may be moved by comments from Bank of
England Governor Andrew Bailey later but should rapidly default to
being driven by external factors, ING says. "Essentially, GBP/USD
is a USD story and EUR/GBP is a EUR story," ING analyst Francesco
Pesole says in a note. GBP/USD could rise to 1.2500 this quarter
but EUR/GBP could rise to 0.8900 as the euro looks marginally more
attractive than sterling, he says. GBP/USD gains 0.2% to 1.2258 and
EUR/GBP falls 0.3% to 0.8781. Bailey speaks at the London School at
Economics at 1700 GMT and delivers a testimony to Parliament on
Tuesday. (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.
---
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.
---
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).
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
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.
---
BT Group Identifying Possible Candidates for Next CEO, Mail on
Sunday Reports
--BT Group PLC is planning for who will succeed current Chief
Executive Philip Jansen, the Mail on Sunday reports, citing an
unnamed industry source.
---
Farallon Capital Partners, L.P., Affiliates Report Stake In
Cazoo Group >CZOO
Farallon Capital Partners, L.P. and affiliates reported a stake
in Cazoo Group Ltd. (CZOO) in a Schedule 13D filed with the U.S.
Securities and Exchange Commission with a March 17, 2023 event
date.
MARKET TALK:
Dialight's 2022 Results Are Encouraging, Peel Hunt Says
0910 GMT - Dialight's 2022 results are encouraging and the
recent step in the Sanmina litigation adds interest, Peel Hunt
analyst Andrew Shepherd-Barron writes in a research note. The U.K.
lighting company's strong 2022 revenue growth, market share gains
and overhead cost savings helped offset lower gross margin from
cost inflation, Shepherd-Barron says. The recent positive legal
step in the Sanmina situation, which removes a cap on Sanmina's
liability and permits a jury trial, adds interest, the analyst
notes. On the back of the 2022 results, Peel Hunt upgrades its
target price on the stock to 210 pence from 170 pence.
(christian.moess@wsj.com)
---
Thungela's Strong Year Could Have Been Better if Not for
Transnet's Performance
0858 GMT - Thungela Resources reports a great 2022 with earnings
before interest, taxes, depreciation and amortization of ZAR29.5
billion, despite losing 3 million metric tons of export sales due
to poor Transnet Freight Rail performance, Liberum analyst Ben
Davis says in a note. Unfortunately, the issues with Transnet
continue and have forced the company to cut its 2023 export
saleable production guidance to a 10.5 million to 12.5 million
metric tons range, from prior guidance of 16 million metric tons,
Davis says. Transnet's challenges are primarily related to theft of
infrastructure, equipment failure--such as its
locomotives--employee strike action, and a significant derailment,
Davis says. Given the current situation at Transnet, the miner
hasn't issued any guidance for 2024, he says. Shares are down 8.9%
at 802 pence. (anthony.orunagoriainoff@dowjones.com)
---
Salzgitter's Steel Business Props Up 4Q Result
0828 GMT - Salzgitter reported EUR221.4 million in
fourth-quarter Ebitda, which came in ahead of Citi expectations,
but quarterly earnings before taxes fell short, analysts say in a
research note. The German steel company's 4Q Ebitda came in 12%
ahead of Citi's expectations, driven by better-than-expected
performance at its steel business. The unit's underlying Ebitda per
ton was higher than anticipated while Salzgitter's non-assigned
businesses reported a EUR46.8 million loss. The analysts say
Salzgitter's 2023 Ebitda guidance of between EUR750 million and
EUR850 million is broadly in line with Citi's own estimates. Citi
expects Salzgitter to make EUR820 million in 2023 Ebitda. Shares
trade 3.2% higher to EUR32.38. (pierre.bertrand@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
March 27, 2023 05:41 ET (09:41 GMT)
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