Oil, Mining Losses Drag FTSE 100

The FTSE 100 closed Thursday due to losses for oil and mining companies. “The FTSE 100 provided a real weak point today, ruled out of the excitement related to the European Central Bank and without much technology to lift it higher,” said Chris Beauchamp, chief market analyst at IG.

 
Companies News: 

Northcoders plans to raise £ 3.5million in AIM float

Northcoders Group PLC said on Thursday it plans to raise a total of 3.5 million pounds ($ 4.8 million) in its listing on London junior AIM.

Zenova group shares rise when it debuts on the stock market

Shares of Zenova Group PLC rose 21% on Thursday as it began trading on London-based junior AIM, implying a market cap of 21.5million pounds ($ 29.5million).

Second-quarter Novolipetsk profit surged amid steel market boom

Novolipetsk Steel on Thursday reported significantly improved profit for the second quarter compared to the previous quarter, reflecting higher prices for steel products, production and sales.

Tracking-Tech Company Big Technologies will be valued at £ 577million when it goes public in London

Big Technologies PLC on Thursday set the price of its scheduled IPO of London junior AIM at 200 pence per share, giving it a market capitalization of 577 million pounds ($ 791.4 million).

Inflation is pushing consumer goods giant Unilever to accelerate price hikes – Update

Dove soap and mayonnaise maker Hellmann’s has warned of accelerating price increases for a line of products as it seeks to counter cost inflation across its business.

Hotel Chocolat Mulls Financing options to increase sales capacity

Hotel Chocolat Group PLC said Thursday it continues to evaluate a range of financing options to increase its long-term sales capacity and continue to grow.

IG Group Posts 52% Increase in Pre-Tax Profits, Updates Mid-Term Revenue Forecast – Update

IG Group Holdings PLC on Thursday reported significantly higher profit for its 2021 fiscal year and improved its medium-term revenue forecast.

Atlas Mara says court rejected creditors’ claims

Atlas Mara Ltd. said on Thursday that the Eastern Caribbean Supreme Court in the British Virgin Islands had dismissed TLG ATMA Ltd.’s claim in all respects. to appoint joint liquidators with respect to Atlas Mara.

The president of the LPA group will retire on August 8

LPA Group PLC announced Thursday that Chairman Peter Pollock will step down from the board effective August 8.

Gambling.com lowers expected IPO price range

Gambling.com Group Ltd. lowered the expected price range of its IPO.

Unilever gives insight into worsening inflation

Inflation is becoming as much of a headache for CEOs of household products as Unilever as it is for buyers. Their ability to pass price increases depends on where and what they are selling.

Telecom Plus Says Three Resolutions Passed With Little Voice At AGM

Telecom Plus PLC said on Thursday that resolutions to re-elect director Charles Wigoder, receive the 2021 annual reports and accounts and approve the director compensation report were approved with a low number of votes at its general meeting. annual.

The 3i Infrastructure oystercatcher approaches the sale of its shares in four European terminals

3i Infrastructure PLC announced Thursday that its holding company Oystercatcher is close to an agreement to sell Evos its 45% stake in four European terminals in Amsterdam, Terneuzen, Ghent and Malta.

 
Market Talk: 

AJ Bell Gets Boost For Industry Growth; Value of the share offering

1332 GMT – Shares of AJ Bell gain 3% after the stock broker announced an increase in total assets under administration in the third quarter and said it was well positioned to grow further. Panmure Gordon highlights the increase in client numbers and the company’s feedback on the growing awareness and continued popularity among financial advisors and retail clients of its managed portfolio service. “Equities, having lagged behind the market, are now delivering value and the company is able to demonstrate that it really benefits from the much-discussed structural growth in the wealth sector. level to buy, ”Panmure analysts say.

Harbor Energy’s Tolmount gas development could face supply chain issues

1331 GMT – Supply chains affected by the coronavirus pandemic could affect Harbor Energy’s supply of replacement equipment for its Tolmount gas project in the North Sea, although the availability of offshore personnel is not considered to be a problem, says Jefferies. The company reduced the 2021 production forecast to exclude Tolmount’s volumes after identifying issues with the platform’s electrical systems. The development project stems from the assets of Premier Oil, one of two companies that merged to form Harbor earlier this year, Jefferies said. The bank has a buy rating on shares in the oil and gas group but reduced the target price to 473 pence from 566 pence.

Chilean rare earth project could be a valuation catalyst for Hochschild

1:17 p.m. GMT – Chile’s BioLantanidos rare earth project could be the real catalyst for upgrading Hochschild Mining, Peel Hunt said, noting that the company is expected to detail its plans in September. Following the second quarter update, Peel Hunt is reducing its 2021 production estimate for the South America-focused miner by 1%. However, the full-year Ebitda forecast remains unchanged at $ 411 million due to higher realized prices for gold and silver. “With the minimal changes, we are maintaining our price target and our 275 pence buy rating,” said Peel Hunt.

FirstGroup’s increased shareholder return could rally activist shareholders to its strategy

1209 GMT – The increase in return to shareholders of UK transport group FirstGroup to £ 500million, from an initial plan of £ 365million, is due to a combination of factors, according to Citi. The increase in yield is due to better working capital, a lower termination cost for UK rail franchise TransPennine Express and improved operations for FirstGroup in the UK, according to the US bank. “We see that closing the deal and increasing shareholder returns will likely motivate activist shareholders to participate in the company’s future strategy,” the bank said. Citi has a buy rating on the stock with a price target of 114 pence. Shares are up 4.2% to 82.90 pence.

Volution shares rise thanks to strong trade update for fiscal 2021

1156 GMT – Shares of ventilation company Volution are up 4.9% after the release of a positive year-end update. The group enjoyed strong trading throughout the latter part of the year ending July 31, with all regions seeing strong revenue growth, Peel Hunt said. There is cost pressure, but the brokerage says the outlook for Volution remains strong and the higher starting point will boost earnings expectations for fiscal 2022. “Equities have performed well since then. started the year up 62% but have followed the industry for the past three months, “it says. Peel Hunt has a buy rating on the stock with a target price of 395 pence.

Moneysupermarket sticks to year targets as margins increase

1052 GMT – Shares of the Moneysupermarket.com group are up 4% to 265 pence after the price comparison website said it still expected to hit its annual targets despite lower pre-tax profit in the first half of the year. Peel Hunt, who has a target of a buy price and 360p on the stock, says earnings fell below expectations in the first half of the year as the travel market did not reopen and the travel market did not reopen. energy fell 25% in the second quarter. “This was offset by a significantly improved gross margin, up 3%,” Peel analysts say. “If the energy market returns to a more normal business model within 2 hours, the company is confident that it will deliver on market expectations. We will reduce our pre-tax profit by 3% today to around £ 90million. ”

Higher Costs Dull Centamin’s Strong Second Quarter Production and Sales

10:41 a.m. GMT – Centamin reported strong gold production and sales results for the second quarter of the year, Peel Hunt said. Production was strong at 100,000 ounces, 5% ahead of PH forecast, thanks to better mined underground ore. Realized gold prices were also higher than expected, and as a result, revenue of $ 177.5 million was 9% above the brokerage’s forecast. On the negative side, costs increased to $ 1,290 per ounce, compared to PH’s forecast of $ 1,277. Additionally, the company says free cash flow suggests higher one-time costs in the six months through June and potentially loosen working capital from the second half of 2020. Shares fall 0.5% at 104.0 pence. Peel Hunt has a buy rating on the gold miner.

Tolmount is slow to reach Harbor’s energy gains

10:33 GMT – The delays to the first gas of Harbor Energy’s Tolmount project have led to a downward revision of production forecasts for 2021. As a result, and incorporating updated hedge book calculations and integration costs funding and merger, Peel Hunt is lowering earnings estimates for 2021 and 2022. The brokerage is reducing its EPS forecast for 2021 from 69% to 31.3 pence and from 41% to 61.0 pence for 2022. It maintains an additional rating on the oil and gas company, but reduces the target price to 425 pence. from 472 pence.

 

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

 

(END) Dow Jones Newswires

July 22, 2021 12:00 p.m. ET (4:00 p.m. GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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