The FTSE 100 closed fractionally in the red on Monday as iron ore prices fell to their lowest levels this year. "The FTSE 100 has chopped in and out of negative territory for most of the day with basic resources, and telecoms providing the main drag, while energy has pulled the index off its intraday lows," CMC Markets UK's Chief Market Analyst Michael Hewson says in a note. Dowlais Group was the biggest riser, ending up 5.8%, while Ocado Group was the furthest in the red, finishing down 2.1%.


COMPANIES NEWS:

Checkit FY 2023 Pretax Loss Widened on Higher Costs; To Meet FY 2024 Market Views

Checkit PLC said Monday that its pretax loss widened for fiscal 2023 after booking higher costs, and that the board expected to meet market expectations for fiscal 2024.

---

Medica Group Agrees to GBP269 Mln Takeover by IK Investment Partners

Medica Group PLC said Monday that it has agreed to a 269 million-pound ($334.6 million) takeover by IK Investment Partners.

---

CentralNic 1Q Revenue Grew; Sees Performance at Least in Line With Market Views

CentralNic Group PLC said Monday that revenue rose 24% in the first quarter of 2023, and that it sees its performance to continue at least in line with market expectations.

---

Mind Gym Sees FY 2023 Revenue Rise, Pretax Profit in Line

Mind Gym PLC on Monday said it expects to report a 12% revenue growth for fiscal 2023 driven by good momentum in the second half of the year and that it remains confident in the group's prospects.

---

Lok 'n Store 1H Profit Fell; Revenue Rose

Lok 'n Store Group PLC said Monday that revenue for the first half of fiscal 2023 rose but pretax profit fell, as the previous period benefited from the sale of four stores.

---

Brighton Pier 18-Month Pretax Profit Benefited from Pent-up Demand; Reduces Debt

Brighton Pier Group PLC said Monday that pretax profit for the 18 months ending Dec. 25 benefited from a pent-up consumer demand and government support programs, while it managed to repay nearly half of its debt following the easing of pandemic restrictions.

---

Gulf Marine Services 2022 Pretax Profit Fell on Higher Costs; Backs Guidance

Gulf Marine Services PLC said Monday that 2022 pretax profit fell after booking higher costs and backed its guidance for 2023.

---

Kaspi.kz 1Q Revenue Rose as Performance Across Platforms Improved

Kaspi.kz JSC said Monday that first-quarter revenue soared on the back of improved performance across all its platforms.

---

React Group Sees 1H Higher Revenue, Profit on Sales Growth

React Group PLC on Monday said it expects to report higher revenue and gross profit for the first half of fiscal 2023 driven by good sales growth in its three divisions from positive contract win momentum over the period.

---

Insig AI to Report Revenue Rise for FY 2023; To Raise GBP900,000 via Subscription

Insig AI PLC said Monday that it expects to report a rise in revenue for fiscal 2023, and that it will raise 900,000 pounds ($1.1 million) via a subscription.

---

THG Taps Sue Farr as Senior Independent Director

THG PLC said Monday that it has appointed Sue Farr as senior independent director with immediate effect, replacing Dean Moore, who was undertaking the position in a interim basis.

---

Christie Group's 2022 Pretax Profit Rose on Postpandemic Recovery

Christie Group PLC said Monday that its pretax profit rose 13% in 2022, due to increased revenue on the back of a recovery from its pandemic performance, especially in its Professional & Financial Services division.

---

Cordel Appoints John Davis as CEO

Cordel Group PLC said Monday that it has appointed John Davis as chief executive officer with immediate effect.

---

Spectra Systems CFO Colleen Hamill Resigns

Spectra Systems Corp. said Monday that Chief Financial Officer Colleen Hamill has resigned.

---

Keystone Law's FY 2023 Pretax Profit Flat on Year, Revenue Grew

Keystone Law Group PLC said Monday that its pretax profit came in flat in fiscal 2023, but revenue grew on strong demand.

---

Shanta Gold's CEO Eric Zurrin to Step Down

Shanta Gold Ltd. said Monday that Chief Executive Officer Eric Zurrin will step down from the role.

---

Asimilar Swung to FY 2022 Loss on Portfolio Declines; Share Trading Restored

Asimilar Group PLC said Monday that it swung to a pretax loss in fiscal 2022 as its portfolio value declined, and trading in its shares has been restored.

---

Narf Industries Names John Herring as Executive Chairman

Narf Industries PLC said Monday that it has appointed independent nonexecutive director John Herring as executive chairman with immediate effect.

---

Pineapple Power Enters Preliminary Agreement for Reverse Takeover With Element 2 Ltd.

Pineapple Power Corp. said Monday that it entered into a nonbinding preliminary agreement on Friday with U.K.-based hydrogen refueling business Element 2 Ltd. to acquire all outstanding shares in the latter.

---

Jubilee Metals Backs 2023 Production Guidance After Robust 1Q

Jubilee Metals Group PLC said Monday that 2023 production guidance for platinum group metals and copper remains unchanged, while chrome is expected to exceed.

---

Frasers Increases Stake in N. Brown

N. Brown Group PLC said Monday that Frasers Group PLC has increased its interest in the company.

---

Smoove Shares Leap on PEXA Group Takeover Talks

Shares of Smoove PLC rose 33.5% on Monday after the company said that it is in early-stage takeover talks with PEXA Group Ltd. about a possible cash offer.

---

TravelCenters Again Spurns ARKO Bid, Sticks With BP Deal

TravelCenters of America Inc. on Monday said it is sticking with its agreement to be acquired by U.K. energy giant BP PLC after holding talks with ARKO Corp., which is looking to upend the deal with a higher offer.

---

CML Microsystems Increases Buyback Program by GBP250,000

CML Microsystems PLC said Monday that it has increased its buyback program by 250,000 pounds ($311,000).


MARKET TALK:

Antofagasta's Shares Face Less Risk

1116 GMT - Antofagasta's outlook has improved, Peel Hunt says, upgrading the Chilean copper miner to hold from reduce. Better-than-expected gold and molybdenum realizations more than offset weaker-than-expected first-quarter production, Peel says, adding that it is increasing its 2023 EBITDA forecast by 1%. Antofagasta shares now appear to be more realistically pricing in near-and medium-term growth prospects, as well as the 12-month copper price outlook, meaning there is less risk to the stock, the brokerage says. "We think the risk is more evenly balanced between up and downside and we upgrade from reduce to hold and lift our target price from 1400p to 1435p," Peel analysts say in a note. Shares rise 0.1% to 1532p. (philip.waller@wsj.com)

---

Playtech Could Attract Interest if It Remains Undervalued

1043 GMT - Playtech looks materially undervalued and bid activity likely lies ahead if the market valuation doesn't catch up with reality, Peel Hunt analysts say in a research note. The gambling-software company as a whole and the component parts attracted bid interest in the past, and this could come to pass again in the future, they say. "We remain convinced that Playtech is materially undervalued. While the frenzy of bid activity is now in the rear view mirror, this is one piece of history we keep front of mind," they say. Peel Hunt has a buy rating on the stock with an 800 pence price target. (kyle.morris@dowjones.com)


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

04-24-23 1250ET