The FTSE 100 closed up 0.6% on Monday after basic resources
performed well despite weakness in commodity prices and on news
that Abu Dhabi's Etisalat had bought a 9.8% stake U.K. telecoms
group Vodafone. While Etisalat has said that it has no designs on
getting a seat on the board, the move is likely to increase
pressure on CEO Nick Read, Michael Hewson, chief market analyst at
CMC Markets UK, says in a research note. Elsewhere, Ryanair said it
expects to return to profitability in fiscal 2023 and warned of
higher fares coming during the summer period.
Emirates Telecommunications Buys $4 Bln Stake in Vodafone
Emirates Telecommunications Group Co. said Monday it has
purchased a 9.8% stake in Vodafone Group PLC, worth around 3.26
billion pounds ($4.0 billion).
Greggs Backs Outlook as Year-to-Date Sales Rise 27%
Greggs PLC said Monday that its expectations for 2022 remain
unchanged, after its like-for-like sales grew 27% in the first 19
weeks of the year.
Baring Private Equity Asia Fund Doesn't Plan to Make Offer for
Baring Private Equity Asia Fund VIII Ltd. said Monday that it
doesn't plan to make an offer for language and
intellectual-property support-services provider RWS Holdings
Stelrad YTD Performance Topped Management Views
Stelrad Group PLC said Monday that its year-to-date performance
was slightly above management's expectations, and that its outlook
for the year remained unchanged.
Experian to Acquire 51% Stake in Brazilian Fintech MOVA for $7.9
Experian PLC said Monday that it has agreed to acquire a 51%
stake in Brazilian fintech company MOVA Sociedade de Empréstimo
entre Pessoas S.A. for a cash consideration of 40 million Brazilian
reais ($7.9 million).
Ryanair Expects to Return to Profitability in FY 2023
Ryanair Holdings PLC said Monday that it expects to return to
profitability in fiscal 2023 as it reported a consensus-beating
narrowed net loss for fiscal 2022 on higher revenue, but cautioned
that the recovery remains fragile.
Plus500 Expects 2022 Revenue, Ebitda to Beat Market Views
Plus500 Ltd. said on Monday that it expects revenue and earnings
before interest, taxes, depreciation and amortization for 2022 to
be significantly above current market expectations, driven by
positive market conditions.
Home REIT Targets GBP150 Mln in Share Placing to Invest in
Home REIT PLC said Monday that it will hold a share placing to
raise around 150 million pounds ($184.0 million), and that the
funds will be used to further invest in accommodation for homeless
people in the U.K.
Sutton Harbour Says Performance Continues to Make a Strong
Sutton Harbour Group PLC said Monday that its performance has
continued to make a strong recovery, and that the value of its
portfolio excluding development sites has risen.
Greencoat UK Wind to Buy 12.5% Stake in Hornsea 1 Offshore Wind
Farm for GBP400 Mln
Greencoat UK Wind PLC said Monday that it has agreed to acquire
a 12.5% stake in Hornsea 1, the world's largest offshore wind farm,
from Global Infrastructure Partners for 400 million pounds ($490.6
B90 Raises GBP731,000 in Share Subscription; Names Current
Chairman as Executive
B90 Holdings PLC said Monday that it has raised 731,000 pounds
($896,498) in a share subscription, and named current Nonexecutive
Chairman Karim Peer as executive chairman with immediate
Nostra Terra Says Fouke 2 Oil Well Production Is Higher Than
Nostra Terra Oil & Gas Co. said Monday that its 32.5%-owned
Fouke 2 well in Texas has been brought to production, and flow
rates are greatly exceeding internal expectations.
RWS Shares Dive After Baring Private Equity Asia Fund Drops
Shares of RWS Holdings PLC fell as much as 25% in early trade
Monday after Baring Private Equity Asia Fund VIII Ltd. said it
doesn't plan to make an offer for the language and
intellectual-property support-services provider.
Metals Exploration Proposes Capital Reorganization
Metals Exploration PLC on Monday proposed a capital
reorganization to give it the flexibility to fundraise through an
issue of shares in the future at a price exceeding its nominal
Lowered War Losses Could Bring a Positive Outlook to
0845 GMT - Reported claims related to the war in Ukraine have so
far been limited, which could lead to lower risk of capitalization
buffer in the U.K. insurance sector, analysts from RBC Capital
Markets say in a research note. The insurance industry estimates a
loss from the war in the $10 billion to $15 billion range, but so
far total reported war losses have reached $1.3 billion, the
analysts say. The sector is set to benefit from a higher interest
base rate as it remains above loss and cost trends, although RBC
analysts say that some margins could be used to offset inflation
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
May 16, 2022 12:25 ET (16:25 GMT)
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