FTSE 100 ends week lower, shedding year-to-date gains

The FTSE 100 closed down 1.2% on Friday on the prospect of higher interest rates and lower UK retail sales. Most major stock indices in Asia and Europe also ended the week on a bad note. Britain’s index has lost its year-to-date gains, said AJ Bell financial analyst Danni Hewson. Only a few stocks closed higher, with British American Tobacco PLC, Burberry and GlaxoSmithKline among the session’s top three gainers. “These were typical places that investors (and the general public) hide when all looks bleak,” Hewson said.

 
Companies News: 

Eurocell sees 2021 earnings slightly ahead of market views

Eurocell PLC said on Friday it expects to report 2021 pre-tax profit slightly above market expectations.

Photo-Me International CEO launches £283.5m mandatory bid after share purchase

Photo-Me International PLC chief executive Serge Crasnianski launches £283.5 million ($385.6 million) mandatory takeover for the listed photo booth, printing and laundry equipment company in London after buying shares that bring its stake to 36.5% of the company’s issued share capital.

Close Brothers Loan Book Rose, boosted by new activity levels

Close Brothers Group PLC said on Friday it delivered a positive performance in its current financial year, benefiting from buoyant business and increased demand.

Metal Exploration Expects Lower Production In 2022 – Commodity Commentary

On Friday, Metals Exploration PLC reported record gold sales and revenue for 2021, but expects production to decline in 2022. Here’s what the Philippines-focused gold miner had to say:

PLC record assets under management increased by $1.2 billion in Q3

Record PLC said on Friday its assets under management increased in the third quarter despite posting net outflows for the period.

TheWorks.co.uk expects 2022 financial year to top views; Reduced pre-tax loss

TheWorks.co.uk PLC said on Friday it expects improved performance for the 2022 financial year and its half-year pre-tax loss has narrowed.

PHSC PLC shares jump on new £300,000 share buyback

Shares of PHSC PLC jumped in early trading on Friday after announcing a new share buyback program of up to 300,000 pounds ($408,000).

Fully secures new contracts and extensions worth £54m

Totally PLC said on Friday it was awarded new contracts and a number of extensions worth around 54 million pounds ($73.4 million) for the provision of emergency care services in the north- east of England, Staffordshire, Stoke-on-Trent and south-east London.

Rockpool Acquisitions ends proposed acquisition of Greenview Gas

Rockpool Acquisitions PLC said on Friday it had terminated plans to acquire Greenview Gas Ltd. and that the board of directors was considering other potential acquisition targets.

Trellus Health appoints Richard Evans as interim CFO

Trellus Health PLC announced on Friday that it has appointed Richard Evans as interim Chief Financial Officer with immediate effect, replacing Salim Hamir who held the position on a part-time basis.

Playtech Shares Slide After JKO Play Withdrew From Potential Bid – Update

Shares of Playtech PLC fell on Friday after JKO Play Ltd. Eddie Jordan has said she no longer intends to bid for the gaming tech company, ending a potential bidding war.

Alien Metals Limited Extension of completion date of acquisition of Munni Munni

TIDMUFO

IHS Markit posts higher Q4 earnings and revenue

IHS Markit Ltd. said earnings in its latest quarter increased year-over-year as revenue from Financial Services, Transportation and Consolidated Markets and Solutions rose.

 
Market Talk: 

4imprint Group can gain market share thanks to Agile Mix

1203 GMT – 4imprint Group is a more agile company today than it was in 2020, with more flexibility and the ability to adjust its marketing mix in real time, says Liberum. The UK-listed distributor of promotional products has the potential to gain market share thanks to its tendency to maintain capacity during recession, a time when rivals appear to be favoring caution, according to the UK investment bank. According to Liberum, 4imprint is a high quality, financially sound company that maintains its buy recommendation with a target price of 3,300 pence. The shares are trading up 1.1% at 2,660 pence.

Whitbread’s 3Q update urges to boost revenue estimates

11:32 GMT – Whitbread’s robust Q3 update prompted Shore Capital to raise its earnings estimate. UK investment group says it now expects FY2023 accommodation revenue to be stable, in line with management expectations, and Ebitda to return to l fiscal 2020 the following year as RevPAR recovers to pre-pandemic levels in 2022. RevPAR is a key metric for a hotel’s high-end performance, combining room rates with room rate. occupation. Shore estimates that an EBITDA recovery to £565m will allow the FTSE 100-listed hotel and restaurant operator to cover capital investment needs of around £400m a year , including expansion in Germany, through internal cash generation. Rates ashore to buy with a target price of 3,099 pence.

The value of Playtech at the center of the bidding process

1101 GMT – Playtech’s value is taking center stage after Eddie Jordan’s JKO Play said it would not bid for gaming tech firm FTSE 250, Peel Hunt has said. The UK brokerage said press comments on Thursday suggested JKO had worked with Entain in a bid, with Entain interested in Playtech’s Italian B2C business, Snai. “The bidding process has triggered an intense focus on Playtech’s value and it is clear that there is value to be extracted from Playtech’s interest in Caliente in Mexico and, in our view, from the Italian B2C business,” he says. Peel Hunt has a holding rating on the stock with a target price of 680 pence. The shares are down 15% at 618 pence.

Close Brothers’ five-month performance was resilient

1042 GMT – Close The Brothers Group’s five-month performance was strong despite weaker market conditions in the banking and securities sectors, Peel Hunt said. The UK investment banking group’s update had little unexpected news, with asset management continuing to perform well and annualized net inflows at 8%, according to the brokerage. “CBG is well positioned to accelerate growth when opportunities present themselves, but to date these have not materialized as soon as the consensus predicted,” he adds. Peel Hunt has a target price of 1,660 pence on the share.

4imprint expected to return to fundamental growth in 2022 despite ongoing challenges

1023 GMT – 4imprint Group is expected to see a return to fundamental growth – as opposed to recovery – in 2022, with the $1 billion revenue target possible in 2023, according to Peel Hunt. The UK retailer of promotional product cost inflation and supply chain challenges remain, but issues related to the latter are expected to ease this year, according to the UK brokerage. “One of the impacts of Covid could be to have significantly changed the marketing mix and the marginal return point. If this is the case, margin recovery could be faster than what we currently expect,” it adds. -he. Peel Hunt has a buy rating on the stock with a target price of 3,100 pence. The shares are trading up 1.1% at 2,660 pence.

TheWorks.co.uk’s new strategy seems to be working

0955 GMT – TheWorks.co.uk’s first-half revenue rose 31% and LFL sales increased 15%, showing that the redevelopment strategy of stocking more flagships, such as Christmas bestsellers or branded games, works well, says Peel Hunt. The London-listed value retailer has always avoided this type of strategy, believing gross margins to be low, explains Peel Hunt. Despite the unchanged number of stores, the new format should accelerate its expansion, adds the British broker. Peel Hunt has a buy rating on the stock with a target price of 100 pence. The shares are up 12% at 63.0 pence.

UK retail sales slump unlikely to derail Bank of England

0843 GMT – The latest UK retail sales figures for December are not pleasant to watch, said ING’s developed markets economist James Smith. Retail sales volumes fell 3.7% from the previous month. “Part of that drop is definitely Omicron-related, given that attendance seems to have been a bit weaker heading into Christmas,” Smith said. But much of it also looks like a setback after an unusually strong November and Black Friday, he adds. October’s strong sales also suggested consumers were shopping for Christmas earlier than in previous years, Smith said. ING says the numbers are unlikely to move the needle much for the Bank of England, which looks set to raise rates again in February.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

 

(END) Dow Jones Newswire

January 21, 2022 12:18 p.m. ET (5:18 p.m. GMT)

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