The blue-chip FTSE 100 index closed 0.05% higher on Friday, buoyed by upbeat oil-related stocks, which offset a slowdown in the mining sector as central bank meetings scheduled for next week prompted investors to be cautious. Sainsbury’s topped the index up 5.7% after Bestway Group bought a 3.45% stake in the British supermarket. On the other side of the table, Rolls-Royce shares closed down 2.9% after the new CEO said the company was a “platform on fire”, chief analyst Michael Hewson said. of the market at CMC Markets. “Rhetoric and tone are important in describing a company, especially one that is responsible for engine safety,” adds Hewson.
Companies News:
Penny James, CEO of Direct Line, resigns
Direct Line Insurance Group PLC said Friday that chief executive Penny James is stepping down with immediate effect.
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Bestway Group buys around $240 million worth of J Sainsbury’s shares
Bestway Group Ltd. said on Friday it had purchased or agreed to purchase shares worth 3.45% of the issued share capital of J Sainsbury PLC, or approximately 193.4 million pounds ($240.0 million).
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Superdry cuts its profit forecast for fiscal 2023 after turning to a pre-tax loss in the first half
Superdry PLC said on Friday it posted a pre-tax loss in the first half of financial year 2023, although its revenue rose, and it lowered its full-year profit outlook.
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On the Beach FY 2023 Holiday Sales Year-To-Date Up 68% YoY
On the Beach Group PLC said on Friday that the total value of vacations sold for the year to date is 68% higher than the same period last year, with bookings from October to December beating their comparisons of l ‘last year.
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Avon Protection 1Q revenue increased, says order pipeline is strong
Avon Protection PLC said on Friday that its first-quarter revenue increased and it had a strong pipeline for its core respiratory products.
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Paragon Banking 1Q New Rose Loan; Increases interest margin guidance for fiscal year 2023
Paragon Banking Group PLC said Friday that new loans in the first quarter were up 22% year-on-year and raised its forecast for net interest margin growth for fiscal 2023.
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Faron Pharmaceuticals raises 12 million euros through an equity placement
Faron Pharmaceuticals Oyj said on Friday it had raised 12 million euros ($13.1 million) through the equity placement announced Thursday evening.
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Treatt 1Q Sales Rose; Confident for the year ahead
Treatt PLC said on Friday it had started the 2023 financial year well with first-quarter sales up in line with management expectations, and was confident for the year ahead.
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Stelrad Group to Report Record Adjusted Operating Profit for 2022
Stelrad Group PLC said on Friday it expects to report 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 fiscal year 2023 revenue in line with views
YouGov PLC said on Friday it expects to report full-year revenue in line with consensus after a resilient first-half performance given the challenging macroeconomic environment.
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Increase in Motorpoint revenue over 9 months; Gross profit per unit Missed expectations
Motorpoint Group PLC said on Friday its revenue for the first three quarters of the year increased, helped by the vehicle mix and price inflation, although gross profit per unit missed expectations and that he expects to be negatively affected by macroeconomic factors.
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Boston International raises GBP 80,000 via directors’ share subscription
Boston International Holdings PLC announced on Friday that it had raised 80,000 pounds ($99,280) through a share subscription by four directors, including chairman and chief executive Christopher Pitman.
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Lenta appoints Vitaly Valkov as Chief Commercial Officer
Lenta PLC announced on Friday that it has appointed Vitaly Valkov as Chief Commercial Officer, effective Thursday.
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Actual experience shares rise as FY2022 pre-tax loss narrows on lower costs
Shares of Actual Experience PLC rose on Friday after the company said its pre-tax loss for the financial year 2022 narrowed due to lower operating costs, although revenues fell.
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Amigo shares fall as capital raise still unsecured
Shares of Amigo Holdings PLC fell 20% on Friday after the company said it had still not secured a large enough investment commitment to back the capital raise it must complete by on May 26 to avoid a liquidation of the activity.
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Chesterfield Resources shares fall as sale of Adeline project collapses
Shares of Chesterfield Resources PLC fell 22% on Friday after the company said Pacton Gold Inc. had withdrawn from the deal to buy the Adeline project, as announced last October, without offering any explanation.
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Taylor Maritime’s Q3 net asset value slipped due to weak charter market
Taylor Maritime Investments Ltd. said Friday that its net asset value per share in the third quarter of fiscal 2023 fell slightly in a subdued rental market, but that it saw a positive outlook for the next two years.
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Sovereign Metals says approval of Mkango project could be encouraging sign for Kasiya project
Sovereign Metals Ltd. said on Friday that the announcement by Mkango Resources Ltd. Malawi’s Environmental Protection Authority approval 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 appoints John Martin as new Chief Financial Officer
Vertical Aerospace Ltd. announced on Friday that it had named John Martin as chief financial officer.
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Land Securities sells central London building for £350m
Land Securities Group PLC announced on 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 CEO Blames Stock Plunge, Says AJ Bell
10.31 GMT – It’s what’s behind Direct Line’s dividend cut that did it for Penny James, AJ Bell says in market commentary after the non-life insurer said its CEO had resigned. “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 box,” says chief investment officer Russ Mould, adding that the group’s statement remains subject to interpretation. as to whether “it jumped or was pushed”. is put in a perilous position, he says.The shares are down 0.8% at 177.35p, having lost 20% since the start of the year.([email protected])
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Rising Paragon Banking Net Interest Margin Guidance Looks Like Confident Move, Jefferies Says
11:17 GMT – Paragon Banking’s early net interest margin forecast boosts confidence, Jefferies said in a note. The property and business lender raised its view by 20 basis points to 25 basis points after an increase in new loans in the first quarter. “It’s clearly positive, and doing it so early in the year indicates a high level of confidence,” analysts at the brokerage said. He’s pricing the stock buy and sees his 700p price target within reach, though he’s refraining from changing his guidance given second quarter lending levels could be lower since the September quasi-budget closed the mortgage market for October. The shares rose 2.1% to 597.0 pence. ([email protected])
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(END) Dow Jones Newswire
January 27, 2023 12:15 p.m. ET (5:15 p.m. GMT)
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