FTSE 100 reverses to end with gains on Friday


Market News: 
 
FTSE 100   7,121.88    91.22  1.297% 
FTSE 250  22,909.32   256.60  1.133% 
FTSE AIM   1,248.90     0.24  0.019% 
 

The FTSE 100 closed approximately 1.3% higher on Friday, recouping some of the losses from Thursday’s session. “Investors in the UK and across the pond appear to have done a Dorothy, slamming their heels and bringing the markets back to pretty much where they were before yesterday’s sell-off,” the analyst said. AJ Bell financier Danni Hewson. In the FTSE 100, miners led the charge higher, while Vectura Group PLC was the best player in the FTSE 250 after it was announced that Phillip Morris International edged out a previous bidder for the company, Hewson said. “Again, all the things the stock markets seemed to worry about yesterday don’t matter today – a hawkish Fed, rising Delta cases, and the looming onset of earnings season in the States -” United have all been sidelined as Friday’s trading ends in Europe with markets in bullish form, while on Wall Street stocks have a certain spring, “said Chris Beauchamp, market analyst at IG Group.

 
Companies News: 

Essensys will receive a product in line with the expectations of the equity placements and the open offer

Essensys PLC said on Friday it would receive proceeds in line with its expectations from its stock placement and open offer.

Victrex Says Third Quarter Revenue Increased, But Sees Headwinds for Fiscal 2022

Victrex PLC said on Friday that third quarter revenue increased and its order backlog for the current quarter was strong, helped by restocking, but warned that headwinds in currency and materials inflation could weigh on on its outlook for next year.

UK Oil & Gas offers to raise up to £ 4.7million via open bid

UK Oil & Gas PLC said on Friday it proposed to raise up to £ 4.7million ($ 6.5million) through an open offer to existing shareholders under an earlier disclosed share offering this week.

Tharisa Achieves Record Extraction Rates, Tons Processed

Tharisa PLC said on Friday it delivered record third quarter mining and processing figures, noting that it was one of the strongest operational periods in its history.

Senior expects a drop in 1H Aerospace, group sales

Senior PLC said on Friday that it expects its aerospace division’s first-half sales to decline by 21% and that the group’s sales for the period are expected to be 13% lower, both at constant exchange rates.

Chamberlin to report loss for fiscal 2021

Chamberlin PLC said on Friday it would report a loss for the fiscal year ended May 31 after losing a contract in late 2020 and the restructuring and refinancing that followed.

Empyrean Energy shares fall on discounted equity placement

Shares of Empyrean Energy PLC fell on Friday after the company said it launched a placement of 83.7 million new common shares of the company at a reduced price to raise 5.0 million pounds (6.9 million dollars).

RM Secured Direct Lending to buy back up to 14.99% of the issued share capital

RM Secured Direct Lending PLC announced on Friday that its shareholders had approved a resolution to buy back up to 14.99% of the common share capital issued by the company.

Subsidiary President Energy acquires 75% stake in undisclosed Green Hydrogen, Ammonia Company

President Energy PLC said on Friday that its hydrogen and ammonia production subsidiary, Atome, had acquired a 75% stake in an undisclosed hydrogen and green ammonia company based in Northern Europe for a value nominal.

MJ Gleeson expects pre-tax profit for the year to be ahead of market views

MJ Gleeson PLC said on Friday that he expected to post pre-tax profit for fiscal 2021 slightly above market expectations.

LendInvest targets a market cap of around £ 255.6million on the AIM list

LendInvest PLC announced on Friday that it has offered to be admitted to trading on the London Stock Exchange’s AIM.

Philip Morris buys inhalation drug company for $ 1.2 billion in health campaign

Philip Morris International Inc. has agreed to buy Vectura Group PLC, a UK pharmaceutical company specializing in inhaled drugs, for $ 1.24 billion in cash, further strengthening its drive to grow beyond tobacco and nicotine .

 
Market Talk: 

Synthomer’s markets are still strong; Upgrades possible

1233 GMT – Synthomer’s markets still look strong and 2022 forecast updates are possible in upcoming half-year results, Peel Hunt said, raising his buy odds on add and price target to 600 pence from 538 pence . Strong generation of cash flow is helping the chemical company pay off debt, and new chief executive Michael Willome has said mergers and acquisitions are back, Peel said. “Even looking through the current nitrile bargain, we believe £ 350million EBITDA is sustainable; we are using that as the basis for our new target price of 600p,” Peel analysts say. Shares rise 2.8% to 517p.

Subsea 7 Renewable Agreement Unleashes Value

1120 GMT – Subsea 7 has agreed to combine its renewables business with OHT, a smaller offshore heavy haulage player, providing a separate list of Subsea 7’s renewables business and resulting in a shift in spending on wind facilities Bank of America Securities said. OHT’s main value from a Subsea 7 perspective relates to the two vessels under construction for the offshore wind market, according to the bank. “We believe the proposed deal should help unlock value and support Subsea 7’s revaluation case. The only ‘side effect’ we see is related to a significant dilutive impact on Subsea’s free cash flow. 7 “, he says. BofA Securities reiterates its buy rating and target price of 125 crowns ($ 14.22).

UK property developers rise after Land Secs rent update

09:33 GMT – Shares of real estate developers are rising after Land Securities Group announced encouraging progress in rent collection. The company said 81% of the net rent due June 24 was paid by June 7. Shares of the group and rival British Land are among the best in the FTSE 100, up around 3%, while FTSE 250 players Hammerson and Shaftesbury also win. . Citigroup said in a note in May that it was sticking to its sell recommendation on land titles as there were still uncertainties over the shape of the takeover and the brokerage was concerned the office sector could face more. other obstacles in particular.

Philip Morris’ offer for Vectura shows UK companies have overseas appeal

0912 GMT – Vectura recommending Philip Morris’ new 150 pence per share offer recalls British companies still appealing to “overseas predators,” Russ Mold at AJ Bell said. In this deal there appears to be an element of ‘poacher turned gamekeeper’ for Philip Morris, as he seeks to use his inhalation expertise for good, making inhalation drug delivery solutions from the UK pharmaceutical company. a good choice, says Mold. “Vectura shareholders may be delighted that this is a cash offer, as many might have had ESG objections to ending up with a position at a manufacturer of harmful cigarettes as opposed to a company working to improve the people’s health, ”Mold said. Vectura stock is up 13% to 153 pence.

 

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

 

(END) Dow Jones Newswires

July 09, 2021 12:20 p.m. ET (4:20 p.m. GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Previous FACT SHEET: Executive Order on Promoting Competition in the American Economy
Next Commentary: Myanmar's textile industry hangs by a thread after coup

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *