London Shares Gain as Miners, Oil Stocks and Royal Mail Rise

FTSE 100 Gains as Miners, Oil Stocks, Royal Mail Rise

The FTSE 100 Index rises 0.5%, oil stocks and Royal Mail gain. BP and Shell advance as the price of a barrel of Brent crude increases 0.8% to $86.96. Meanwhile, Polymetal International continues to make progress, up nearly 4% after the Russian gold miner Monday said its Novopet deposit in Russia was thought to contain 2.4 million gold-equivalent ounces. Other miners also gain, with Antofagasta, BHP and Anglo American all among the biggest risers. Royal Mail climbs 5% despite lowering full-year profit guidance as the parcel and letter courier outlined plans to axe 700 management jobs as part of a cost-cutting drive.

 
Companies News: 

EKF Diagnostics Expects 2021 Performance to Beat Market Views

EKF Diagnostics Holdings PLC said Tuesday that it expects its 2021 financial performance–including adjusted earnings before interest, taxes, depreciation and amortization–to be above market views.

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IQE Sees 2021 Revenue in Line With Guidance

IQE PLC said Tuesday that 2021 revenue is expected to be in line with the guidance given in November.

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BlueRock Diamonds Sells 6.8-Carat Stone for $63,186 in January’s Tender

BlueRock Diamonds PLC said Wednesday that it has sold a 6.8 carat stone for $63,186 in its January sale.

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Animalcare Group Sees FY 2021 Revenue In Line With Market Views

Animalcare Group PLC said Tuesday that it expects revenue for 2021 to be in line with market expectations, backed by higher margins.

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Yu Group Sees 2021 Revenue, Adjusted Ebitda, Ahead of Views

Yu Group PLC said Tuesday that it expects 2021 revenue and adjusted Ebitda to be significantly ahead of expectations.

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TI Fluid Systems Sees 2021 Revenue Growth

TI Fluid Systems PLC said Tuesday that it expects to report revenue growth for 2021 despite market headwinds.

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Learning Technologies Expects to Report Market-Beating 2021 Earnings

Learning Technologies Group PLC said Tuesday that it expects to report market-beating earnings for 2021 driven by strong organic revenue growth, and that it is optimistic about the year ahead.

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TI Fluid Systems Chairman to Retire

TI Fluid Systems PLC said Tuesday that Chairman Manfred Wennemer has decided to retire after the company’s annual general meeting on May 18.

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Northcoders Sees 2022 Revenue of More Than GBP3 Mln

Northcoders Group PLC said Tuesday that it expects revenue for 2022 to be more than 3 million pounds ($4 million) and that it has delivered a strong performance for 2021, boosted by a higher demand.

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Royal Mail Plans to Cut Around 700 Manager Jobs as Part of Restructuring

Royal Mail PLC said Tuesday that it plans to cut 700 manager jobs, and that it is reducing its guidance for fiscal 2022 because of the launch of a consultation process to restructure the business.

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Base Resources Backs FY 2022 Production Guidance

Base Resources Ltd. on Tuesday reaffirmed mineral sands production guidance for the year ending June 30.

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Eleco Expects 2021 Revenue, Ebitda to Rise

Eleco PLC said Tuesday it expects 2021 revenue and Ebitda to be above market views.

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Ergomed Sees 2021 Adjusted Ebitda Beating Market Expectations

Ergomed PLC said on Tuesday that it expects to report adjusted Ebitda for 2021 ahead market expectations, boosted by higher profit.

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Sopheon Sees Improved 2021 Revenue, Adjusted Ebitda

Sopheon PLC said Tuesday that it expects to report improved revenue and adjusted Ebitda for 2021.

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Royal Mail Downgrades FY 2022 Guidance on Plan to Cut Around 700 Manager Jobs — Update

Royal Mail PLC said Tuesday that it plans to cut 700 manager jobs, and that it is reducing its guidance for fiscal 2022 because of the launch of a consultation process for its restructuring.

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Pelatro Expects 2021 Results in Line With Expectations

Pelatro PLC said Tuesday that it expects results for 2021 to be in line with expectations, and that although it anticipated results for the year to be released in late March or early April this could be subject to change due to the disruption stemming from Covid-19 restrictions.

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Sivota to Buy Majority Stake in Marketing Platform Apester

Sivota PLC said Tuesday that it has entered into a conditional deal to buy a 57.5% stake in digital marketing engagement platform Apester Ltd. for $12 million.

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Autins Group’s FY 2021 Pretax Loss Narrowed

Autins Group PLC reported on Tuesday a narrowed pretax loss for fiscal 2021 and said medium term guidance remains positive.

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Unilever to Cut 1,500 Jobs in Structure Reorganization

Unilever PLC said Tuesday that it will change its organization structure and that it will be centered in five distinct business groups, resulting in the shedding of around 1,500 jobs and the reduction of management positions.

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PCF Group Shares Slide 50% as Profit Falls, Trading Resumes

PCF Group PLC shares halved in early trading Tuesday after its trading suspension was lifted and the company said half-year profit decreased due to the impact of the pandemic.

 
Market Talk: 

Eleco’s Update Shows a Return to Growth After 2020’s Hiatus

0931 GMT – Eleco’s update showed a return to growth, after a hiatus in 2020, representing a credit to the U.K. software company’s refreshed management team, prompting finnCap to raise its forecasts. The team restructured operations and introduced a popular new SaaS/subscription sales model, which generated significant cash flow, the U.K. brokerage says. “Margins in 2022 and 2023 will be affected by the transition to a SaaS model and the related sales and marketing effort to drive sales growth. This should see recurring revenue rising from 56% to 66% by 2024–introduced today to show the expected positive outcome of the strategy–driven by SaaS growth,” finnCap says. The brokerage has a 160.0 pence target price.

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Capricorn Financial Assets, Potential Shareholder Returns in Focus

0916 GMT – Shares in Capricorn Energy rise 5.4% after publishing its first update since it acquired Shell’s oil-and-gas portfolio in Egypt. Given the significant changes in the company last year, the near-term focus will be on financial assets and cash returns to shareholders, RBC Capital Markets says. In that regard, Capricorn reported year-end net cash of $133 million; and management expects to receive a $1.06 billion tax refund from the Government of India in early 2022 and a $76 million earn-out consideration from the disposal of the U.K. fields also this year, RBC says. On the other hand, Cairn has decided to return $500 million to shareholders by way of tender offer and $200 million via share repurchase, the bank notes.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

January 25, 2022 04:54 ET (09:54 GMT)

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