Market News: FTSE 100 7,210.97 +21.32 +0.30% FTSE 250 19,074.68 -23.29 -0.12% FTSE AIM All-Share 864.85 +0.44 +0.05%
Sterling Rises Likely to Be Short-Lived: ING
0904 GMT - Despite a recent respite in sterling falls and reduced bets against the currency, any sterling rises will continue to be short-lived, says ING. EUR/GBP has ceased its decline, having failed to make a sustained move below the 0.9100 level, while the option market has also corrected, the bank says. Implied volatility--a measure of the cost of options to protect against big currency moves--in EUR/GBP have declined from their early-August highs. However, sterling will likely fall on any negative news from U.K. Prime Minister Boris Johnson's meeting with EU officials this week, given the British premier insistence on renegotiating the Irish backstop, it says. EUR/GBP is last at 0.9161, up 0.3% on the day.
Employee of U.K. Consulate in Hong Kong Detained in Mainland China
A member of the British consular staff in Hong Kong has been detained in mainland China after a trip to the neighboring city of Shenzhen.
BHP Annual Profit More than Doubles
BHP Group Ltd. (BHP.LN) said its annual net profit more than doubled because of strong iron-ore prices and large charges the year before that weren't repeated.
Argo Blockchain Shares Rise After Company Increases Cryptomining Capacity
Argo Blockchain PLC (ARB.LN) shares rose on Tuesday after the company said it has signed an agreement to more than quadruple its electricity supply, boosting its cryptomining capacity.
AstraZeneca: Farxiga Met Primary Endpoint in Landmark Phase 3 Trial
AstraZeneca PLC (AZN.LN) said Tuesday that Farxiga met the primary endpoint in a Phase 3 trial for the treatment of patients with heart failure.
Avesoro Resources Shares Rise as Majority-Holder Bids for Remaining Shares
Shares in Avesoro Resources Inc. (ASO.T) rose Tuesday after its controlling shareholder Avesoro Jersey Ltd. proposed to buy the shares it doesn't own in a deal valuing the company at around 81.6 million pounds ($98.6 million).
Cabot Energy Shares Fall as 2Q Production Declined; Mulling Financial Options
Shares of Cabot Energy PLC (CAB.LN) fell Tuesday after the company reported a decline in production and sales for the second quarter of 2019 and said it was considering its financial options for the rest of the year, including an equity funding.
Cellcast Agrees to Sale of Main Operating Unit to Management
Cellcast PLC (CLTV.LN) said Tuesday that it has conditionally agreed to the sale of its wholly owned operating subsidiary--Cellcast U.K. Ltd.--to Com & Tel Media Ltd. for 375,000 pounds ($453,262).
Empiric Student Property 1H Pretax Profit Rose 33%
Empiric Student Property PLC (ESP.LN) on Tuesday reported a 33% rise in first-half pretax profit and said that it was confident in its outlook.
H.C. Slingsby Shares Drop After 1H Swings Into Pretax Loss
Shares in H.C. Slingsby PLC (SLNG.LN) fell Tuesday after the company reported a swing to a pretax loss for the first half of 2019 after booking higher costs, and expressed caution for the rest of the year.
IMI to Buy PBM for $85 Mln
Specialist engineering company IMI PLC (IMI.LN) said Tuesday that it is buying U.S. industrial valves and flow control company PBM Inc. for $85 million.
John Wood Group Swings to 1H Pretax Profit; Backs 2019 Views
John Wood Group PLC (WG.LN) Tuesday reported a swing to pretax profit for the first half of 2019 after booking lower costs, and backed its guidance for the year.
Kin & Carta Sees FY 2019 Pretax Profit Below Market Views; Share Fall
Shares of Kin & Carta PLC (KCT.LN) fell 15% in early trade Tuesday after the company said pretax profit for fiscal 2019 will be below market expectations, which it attributed to investments in its transformation.
Kenmare Resources 1H Pretax Profit Down 21%; Declares Maiden Dividend
Kenmare Resources PLC (KMR.DB) Tuesday reported a 21% fall in pretax profit for the first half of 2019 on lower volumes, but declared a maiden dividend citing its balance-sheet strength, improving free-cash-flow profile and long-life resources.
Mysale to Raise GBP10 Mln Via Accelerated Bookbuild
Mysale Group PLC (MYSL.LN) on Tuesday said it plans to raise a minimum of 10 million pounds ($12.1 million) in an accelerated bookbuild to help fund its Australia and New Zealand-first strategy.
Non-Standard Finance 1H Pretax Loss Widened; Trading in Line With Views
Non-Standard Finance PLC (NSF.LN) on Tuesday reported a widened pretax loss for the first half of 2019 after booking higher charges and exceptional items, and said current trading was in line with market expectations.
Nostrum Oil & Gas 1H Revenue, Profit Falls on Lower Oil Price
Nostrum Oil & Gas PLC (NOG.LN) said Tuesday that revenue and profit fell in the first half of the year, which it attributed to a decline in the price of oil.
Persimmon 1H Pretax Profit Fell 1.4%
Persimmon PLC (PSN.LN) on Tuesday reported a 1.4% fall in first-half pretax profit as higher average house prices were offset by a fall in the number of homes sold.
Providence Resources, Lansdowne Oil & Gas Shares Trade Down on Another Loan Delay
Shares of Providence Resources PLC (PZQA.DB) and Lansdowne Oil & Gas PLC (LOGP.LN) fell slightly Tuesday after the companies said they have yet to receive funds from APEC Energy Enterprise Ltd.
Robinson PLC Appoints Helene Roberts as CEO
Robinson PLC (RBN.LN) said Tuesday that Helene Roberts has been appointed as chief executive effective Nov. 4, and that interim CEO Martin McGee will step down from the board on that date.
UK Oil & Gas Granted Two-Year Extensions to Licenses
UK Oil & Gas PLC (UKOG.LN) on Tuesday said that the UK Oil and Gas Authority has granted two-year extensions to its operated licenses in the Isle of Wight and the northern Weald.
Ofgem Launches Investigation Into Aug. 9 Power Cuts
U.K. energy regulator Ofgem said Tuesday that it has launched an investigation into the Aug. 9 power cuts that brought large parts of the U.K. to a standstill.
Persimmon 1H Cheers Investors Despite Higher Costs
0905 GMT - Persimmon's first-half results were good despite higher costs from customer-service improvements, says Canaccord Genuity. Margins modestly topped expectations and net cash was strong, though annual customer-care costs are set to increase by GBP15 million. "While there are the expected Brexit-related caveats, we believe current trading and outlook comments read reassuringly," Canaccord's Aynsley Lammin says. "We wouldn't expect any material changes to consensus on the back of these results and continue to believe management will successfully address its customer-care issues. Macro and political risks remain, but on a relative basis, we continue to see attractive value in the shares. We reiterate our buy rating." Shares rise 0.1%.
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(END) Dow Jones Newswires
August 20, 2019 05:22 ET (09:22 GMT)