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FTSE 100 Edges Higher Ahead of US Job Data
0759 GMT – The FTSE 100 edges 0.1%, or 10 points higher to 7088 as investors sit tight ahead of U.S. non-farm payrolls later. Oil stocks are among the biggest top-flight risers as the price of a barrel of Brent crude increases 1.4% to $83.09. Markets in Asia mostly closed in positive territory and the Dow Jones looks set to open about 39 points higher later, according to IG data. “A strong session overnight saw gains across the board, with Chinese markets reopening after an extended national holiday,” IG analysts say. “All eyes turn to the U.S. jobs report today, with expectations of a re-bound in payrolls following a disappointing seven-month low of 235k last time around.” (philip.waller@wsj.com)
Companies News:
Hollywood Bowl FY 2021 Boosted by Demand After Covid-19 Restrictions Were Lifted
Hollywood Bowl Group PLC said Friday its performance for fiscal 2021 was strong since its centers were allowed to reopen in England and Wales, boosted by a rebound in customer demand.
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Royal Mail to Buy Mid-Nite Sun Transportation (Rosenau Transport) for $286.8 Mln
Royal Mail PLC said Friday that its subsidiary General Logistics Systems will acquire Canadian logistics company Mid-Nite Sun Transportation Ltd., which operates as Rosenau Transport, for 360.0 million Canadian dollars ($286.8 million).
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Brighton Pier Group Sees FY 2021 Earnings GBP2 Mln Above Market Views
Brighton Pier Group PLC said Friday that it has received five million pounds ($6.8 million) of business interruption insurance claims and now expects to report fiscal 2021 earnings GBP2 million above market expectations.
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N. Brown 1H Pretax Profit Rose Significantly
N. Brown Group PLC reported on Friday a rise in pretax profit for the first half of fiscal 2022 amid a significant decrease in costs, and said that it has dealt well with global freight disruptions.
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Electrocomponents 1H 2022 Comparable Revenue Increased 31%; Raises FY Guidance
Electrocomponents PLC said Friday that like-for-like revenue for the first half of fiscal 2022 rose 31%, with strong growth across all three regions, and raised its full-year guidance.
Market Talk:
Royal Mail’s Canadian Acquisition Strengthens Case for GLS Demerger
0852 GMT – Royal Mail’s deal to pick up freight carrier Rosenau should help with its GLS logistics arm’s growth ambitions, therefore making the case for demerging it from the U.K. operations stronger, Russ Mould at AJ Bell says. While the letter-and-parcel courier’s U.K. arm has benefited from Covid-19 and an increase in the volume of parcels due to the e-commerce boom, it is lumbered with a structurally-challenged letters operation, large pension liabilities and substantial cost base, Mould says. GLS is the part of the group with the most potential and it isn’t faced with the same level of structural issues as its U.K.-based business, he says.(anthony.orunagoriainoff@dowjones.com)
Weir Group’s Outlook Seen as Strong Despite Ramsomware Attack
0728 GMT – Weir Group suffering a ramsomware attack will hit its full-year Ebita performance, but it is only an unfortunate episode for the company, Jefferies says. The attack on the U.K. engineering company won’t hurt its forecasts for the next year, Jefferies says. The U.S. bank doesn’t expect any change to next year’s consensus forecasts after this unexpected trading update. Jefferies says Weir Group’s third-quarter underlying order intake was also very strong, as the bank expected, and retains its hold recommendation on the stock. Jefferies has a target price of 1,845.00 pence a share. Shares are down 3.3% at 1,592.00 pence. (sabela.ojea@wsj.com; @sabelaojeaguix)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 08, 2021 05:09 ET (09:09 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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