Marketing assets

The FTSE 100 closed 0.3% higher amid slowing US inflation

The FTSE 100 closed 0.3% higher on Wednesday as markets analyzed a slowdown in inflation in the United States, although concerns over petrol prices continued to linger in Europe. “While we saw a rise in European indices, the FTSE 100 lagged thanks to a reversal in GBP/USD which serves to dampen an index which around two-thirds of its earnings are made in foreign currencies,” says Joshua Mahony, senior market analyst at online trading platform IG. Admiral Group led the gains, ending the day up 13% after reporting first-half profit about 19% ahead of pre-pandemic levels. It was closely followed by Aviva, which finished up 12% after announcing an increase in first-half operating profit and announcing a takeover.

Companies News: 

RS Group acquires Mexican distributor Risoul for $275 million

RS Group PLC announced on Wednesday that it has agreed to buy a distributor of industrial and automation products and services in Mexico for $275 million.

Admiral Group’s first-half pre-tax profit fell after recording higher costs

Admiral Group PLC on Wednesday reported a significant drop in pre-tax profit for the first half of 2022 due to rising costs, but said it was still 19% above pre-pandemic levels.

Deliveroo’s H1 pre-tax loss widened on consumer headwinds; Begins £75m share buyback

Deliveroo PLC said on Wednesday its first-half pre-tax loss widened due to increased consumer headwinds and launched a 75 million pound ($90.6 million) share buyback program ).

Royal Mail warns of material loss as union continues strike

Royal Mail PLC warned on Wednesday that it expects to suffer significant losses in financial year 2023 if a proposed strike takes place.

Airtel Africa accepts $125 million loan to support operations and investments

Airtel Africa PLC announced on Wednesday that it has signed a $125 million revolving credit facility with Citi, and that it will use the funds to support operations and investments in four of its subsidiaries.

Net asset value per share of Civitas Social Housing increased slightly in the June quarter

Civitas Social Housing PLC said on Wednesday it continued to operate in line with expectations and its net asset value per share increased slightly in the first quarter of financial year 2023.

Aviva plans another takeover after half-year profit surge

Aviva PLC representative

announced on Wednesday an increase in operating profit for the first half of 2022, supported its full-year dividend forecast and presented new capital return plans.

Jubilee Metals H2 Earnings Rise on Higher Production – Commodity Commentary

Jubilee Metals Group PLC said on Wednesday that its profits increased in the second half of its financial year ended June 30. Here’s what the Africa-focused mining company had to say:

First-half prudential net profit fell sharply due to pandemic restrictions, operating profit increased

Prudential PLC reported a 90% drop in net profit for the first half of 2022 on Wednesday due to market volatility amid the effects of coronavirus restrictions, while its overall operating profit rose slightly but fell. missed the market views.

88 Energy to raise up to $7 million via discounted equity offering

88 Energy Ltd. announced on Wednesday that it would raise up to A$10 million ($7 million) via a discounted equity placement and bookbuild – and accept oversubscriptions of up to A$4.9 million – and that it would use the proceeds to fund potential new ventures and as additional working capital.

S&U’s recent performance exceeds its expectations, but remains cautious

S&U PLC said on Wednesday that its performance from May 26 to July 31 in both divisions exceeded its expectations, while remaining cautious in the face of current economic uncertainty.

Redde Northgate doubles its share buyback program to £60m

Redde Northgate PLC announced on Wednesday that it would double the size of its share buyback program to a total of up to 60 million pounds ($72.5 million), given its strong start to the financial year and the significant support from its shareholders.

TP ICAP’s first-half pre-tax profit increased due to growth in global brokerage; Is optimistic about the outlook for 2022

TP ICAP Group PLC reported a significant increase in pre-tax profit for the first half of 2022 on Wednesday, helped by increased revenue from its global brokerage division, and said it was well positioned for the rest of the year. .

Quilter AuMA fell 12% in 1H on adverse market moves

Quilter PLC announced on Wednesday that its assets under management and administration decreased by 12% in the six months ended June 30.

Deliveroo director Simon Wolfson quits board

Deliveroo PLC said on Wednesday that the independent non-executive director and chief executive of Next PLC, Simon Wolfson, has decided to step down from its board.

Digitalbox warns of slowdown despite 1H turnover; Fall in stocks

Shares of Digitalbox PLC fell on Wednesday after it said tough conditions could hurt second-half earnings, despite a first-half performance well above its expectations.

 
Market Talk: 

Deliveroo serves an impressive 1H, but the risks remain

0913 GMT – Deliveroo delivered a pleasant surprise as it beat first-half estimates despite cracks emerging across the tech sector, AJ Bell says. With consumers under increasing pressure to cut back on spending, business was forecast to fall but takeout orders for the UK food delivery company actually rose, AJ Bell financial analyst Danni Hewson said , in a research note. There are still reasons to be cautious, however, the brokerage says. “Growth slowed in the last quarter and the main reason it managed to beat estimates was because of reduced marketing spend. This could explain why the stock price didn’t rally on the news.” , Hewson said. The shares are up 2.7% at 93.7 pence. ([email protected])

Admiral wins as UK car insurance profits exceed hopes

08:38 GMT – Admiral shares gain 4% after the insurer reported lower first-half pre-tax profit than a year ago but said it was still 19% ahead of that of the first half of 2019. The group’s pre-tax profit of £251m was in line with consensus, with a weak result in the insurer’s international motor business offsetting a 9% beat in its UK motor business , says Citigroup, adding that the US operations have significantly affected the international automotive result. “A little pulled back by households, US and business development, but there should be enough here to reassure, given the rate and claims development,” James said. Shuck, an analyst at Citi, in a note. ([email protected])

 

Contact: London NewsPlus; Dow Jones Newswire; [email protected]

 

(END) Dow Jones Newswire

August 10, 2022 12:55 p.m. ET (4:55 p.m. GMT)

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