London shares hope for a solution between Ukraine and Russia

FTSE 100 rises on hopes of Ukraine-Russia solution

The FTSE 100 rises 0.5% to 7,552 points on hopes of a diplomatic solution to the Ukraine crisis after US President Biden and Russian President Vladimir Putin agree in principle for a summit . “The FTSE 100 is holding above critical round number support at 7,500 amid easing geopolitical tensions between Russia and Ukraine as the market anticipates further de-escalation in the days ahead,” say Interactive Investor analysts. Russian steel company Evraz topped the FTSE 100, up 4.3%. Dechra Pharmaceuticals gained 1.2% after the British veterinary pharmaceutical group posted stronger first-half pre-tax profit and increased its interim dividend. Anglo American climbs 1.4% after the miner’s majority-owned Anglo American Platinum business said 2021 net profit more than doubled.

 
Companies News: 

Halma buys International Light Technologies for $26.6 million

Halma PLC announced on Monday that it is buying US lighting company International Light Technologies, Inc. for $26.6 million in cash, which will be funded from the company’s existing facilities.

Dechra Pharmaceuticals’ first-half 2022 pre-tax profit increased on rising revenue

Dechra Pharmaceuticals PLC said on Monday that profit and pre-tax revenue for the first half of fiscal 2022 increased and its performance in the second half remained strong as its major markets returned to historic growth levels.

Investec outlines plans to distribute 15% of Ninety One to shareholders

Investec PLC on Monday announced plans to distribute shares worth 15% of asset manager Ninety One PLC to its shareholders, given its strong capital generation and optimization strategy.

Next Fifteen Communications confirms talks to buy Engine UK

Next Fifteen Communications Group PLC confirmed on Monday that it is in talks to acquire advertising and communications company Engine UK.

John Menzies gets new improved NAS proposal he would recommend to shareholders

John Menzies PLC said on Monday it had received a new and improved offer from National Aviation Services and Agility Public Warehousing Co. KSC which values ​​the company at 558.8 million pounds ($759.3 million) and would be ready to recommend to shareholders.

Morses club issues profit warning as CEO steps down

Morses Club PLC issued a profit warning on Monday and said its chief executive had stepped down with immediate effect.

Allied Minds Appoints Founder as Consultant for Shareholder Cash Returns

Allied Minds PLC announced on Monday that it has appointed founder and former executive chairman Mark Pritchard as a consultant to the board with the aim of maximizing cash returns for shareholders.

Finsbury Food to increase its stake in Lightbody-Stretz for 7.1 million euros

Finsbury Food Group PLC announced on Monday that it has agreed to increase its stake in its European distribution business, Lightbody-Stretz Ltd., for an aggregate amount of 7.1 million euros ($8.1 million). The acquisition is expected to be finalized later Monday.

Clipper Logistics Agrees to Potential $1.3 Billion Takeover by GXO Logistics

Clipper Logistics PLC said on Monday it had reached an agreement for a possible cash and share takeover bid by GXO Logistics Inc., valuing it at around 942.6 million pounds ($1.3 billion) or 920 pence per share. .

Lower first-half Finsbury Food pre-tax profit; Restores dividend for fiscal year 2021

Finsbury Food Group PLC said on Monday its pre-tax profit fell in the first half of financial year 2022 after booking higher costs, and it was reinstating a dividend for financial year 2021.

Tristel shares fall due to lower pre-tax profit in the first half of 2022

Shares of Tristel PLC fell after the company said pre-tax profit fell for the first half of fiscal 2022 due to lower revenue, and it expected second-half revenue to be higher to those of the first semester.

Bank of Cyprus moves to pre-tax profit in 2021 after reduction in credit losses

Bank of Cyprus Holdings PLC said on Monday it turned to a pre-tax profit in 2021 on significantly reduced credit losses despite lower turnover.

ADVFN 1H 2022 Pretax profit fell due to rising costs

ADVFN PLC said on Monday that pretax profit fell for the first half of fiscal 2022 after accounting for higher costs, and it would continue to refresh its offerings to maintain and grow future revenue.

The CEO of the Made.com group, Philippe Chainieux, resigns

Made.com Group PLC announced on Monday that chief executive Philippe Chainieux is stepping down for family reasons and will be replaced on an interim basis by Nicola Thompson with immediate effect.

Immotion 2H’s revenue more than tripled thanks to the recovery of on-site entertainment

Immotion Group PLC said on Monday its second-half revenue more than tripled due to a takeover of its location-based entertainment unit, although its home entertainment division suffered logistical problems.

IG Design CEO Paul Fineman to step down in March; The search has begun for the replacement

IG Design Group PLC said Monday that CEO Paul Fineman will step down on March 1 for personal reasons, after 14 years in the role.

Fusion Antibodies CEO Richard Jones resigns

Fusion Antibodies PLC said on Monday that chief executive Richard Jones had resigned from his post to pursue other opportunities.

Corcel accepts combined debt and equity financing solution of up to £1m

Corcel PLC said on Monday it had agreed to a partial debt swap and new financing of up to 1 million pounds ($1.4 million), and would use the funds for working capital and to support its strategy focused on battery metals.

IDOX PLC Appoints Anoop Kang as Chief Financial Officer; Rob Grubb will take on a new role in mergers and acquisitions

IDOX PLC announced on Monday that it has appointed Anoop Kang as Chief Financial Officer, replacing Rob Grubb who is taking on the newly created role of Mergers and Acquisitions Director.

Concurrent Technologies Names Kim Garrod Chief Financial Officer; Current CFO resigns

Concurrent Technologies PLC said on Monday that Kim Garrod had been appointed chief financial officer and that current chief financial officer Jonathan Martin had resigned from the board with immediate effect and would leave the company in due course.

Transport for London says funding talks with UK government extended until February 25 – Update

Transport for London said on Monday that discussions with the UK Department for Transport over its future funding had been extended until February 25 and that it remained in a position to meet its short-term operational and contractual obligations while talks were concluded.

Polar Capital Global Financials to increase equity in equity placement

Polar Capital Global Financials Trust PLC on Monday announced plans to raise an undisclosed sum through an equity placement with accredited investors.

 
Market Talk: 

Easing of Covid-19 restrictions boosts UK economic activity in February

0957 GMT – Economic activity in Britain’s private sector picked up sharply in February as consumer service providers benefited from the easing of Covid-19 restrictions, preliminary data from a survey of managers shows of purchase. The IHS Markit/CIPS composite PMI rose to 60.2 in February from 54.2 in January, an eight-month high. The gain was led by services, in particular the recovery in consumer spending on travel, leisure and entertainment, the report said. Strong inflationary pressures persisted amid rising wages, energy bills and raw material costs, the report said. “With the marked acceleration in the PMI indices in February and mounting cost pressures, the chances of increasingly aggressive policy tightening have diminished, with a third consecutive rate hike looking increasingly inevitable in March,” says IHS Markit. .

Clipper Logistics takeover looks good for short-term investors

09:53 GMT – GXO Logistics’ takeover of Clipper Logistics makes strategic sense as it would complement GXO’s existing expertise and increase its scale in important markets, says AJ Bell. The logistics service provider has recently made a name for itself coordinating e-commerce returns services for most major UK retailers, says AJ Bell. “With the UK market still trading at a cheaper level – compared to other places like the US – we are likely to see further buyout action,” says AJ Bell. While this is good for short-term investors as it increases asset values ​​rapidly, it is not necessarily good in the long term, for long-term investors’ wealth or market reputation if the business pool is shrinking, according to the UK brokerage. The shares are up 14% at 883.0 pence.

UK services PMI expected to rise; Manufacturing PMI down in February

0905 GMT – Britain’s Flash Services Purchasing Managers’ Index is set to rise to 54.8 in February from 54.1 in January as England’s ‘plan B’ restrictions were lifted towards the end of January, according to UniCredit Research . Economists polled by the Wall Street Journal forecast a UK services PMI of 55.5 in February. The flash manufacturing PMI is expected to decline slightly from 57.3 to 56.8, according to UniCredit Research. “New orders are falling amid rising prices and diminishing pent-up demand for goods,” the Italian bank said. As in the euro zone, supplier delivery times will be in the spotlight, according to UniCredit Research. Looking ahead, UK PMIs are likely to ease due to the impending squeeze in real disposable income, according to the bank.

 

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

(END) Dow Jones Newswire

February 21, 2022 05:21 ET (10:21 GMT)

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