The FTSE 100 Index closed Tuesday up 1.3%, or 91.6 points, to 7186, leading its European peers and supported by the commodity sector and a surge in Ocado's shares. Mining stocks benefited from an increase in commodities price such as iron, copper and nickel as investors are willing to overlook continued recession and Chinese lockdown concerns, senior market analyst at IG Joshua Mahony says in a note. Anglo American, Glencore and Antofagasta were among the biggest blue-chip risers, increasing 6%, 4.9% and 4.7%, respectively. However, online grocer and retail-technology specialist Ocado lead the gains with a 40% increase after the group secured a deal for its warehousing-technology services from a retailer trading in South Korea. Rentokil lead the falls, down 4.3%, after reporting lower third-quarter disinfection-service sales.
Companies News:
Playtech CFO to Step Down for Personal Reasons; Successor Appointed
Playtech PLC said Tuesday that Chief Financial Officer Andrew Smith has decided to step down for personal reasons and that Chris McGinnis has been appointed as his successor.
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BP 3Q Profit Slipped on Quarter But Beat Views; Declares $2.5 Bln Buyback
BP PLC on Tuesday reported an on-quarter slip in third-quarter underlying replacement cost profit, but significantly outperformed expectations, and declared a further quarterly share buyback.
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Rentokil Initial 3Q Disinfection-Services Sales Fell; Revenue Rose
Rentokil Initial PLC said Tuesday that third-quarter sales from disinfection services fell, in line with the board's expectations, and that revenue rose 19% at actual exchange rates.
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Aston Martin Lagonda Global Appoints Two Nonexecutive Directors From Saudi Arabia's Public Investment Fund
Aston Martin Lagonda Global Holdings PLC said Tuesday that Ahmed Al-Subaey and Frederick Robertson have been appointed to the board as representative nonexecutive directors of Saudi Arabia's Public Investment Fund, effective Nov. 1.
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Fulham Shore 1H Performance in Line Despite Market Challenges
Fulham Shore PLC said Tuesday that its first-half performance was in line with management expectations despite the challenging political and macroeconomic environment.
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TP ICAP 3Q Revenue Rose as Global Broking Benefited From Market Conditions
TP ICAP Group PLC said Tuesday that revenue rose in the third quarter as it benefited from favorable market conditions in Global Broking, its most profitable business, and that its performance was in line with the board's expectations.
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Westminster Group Sees Fall in 2022 Revenue, Pretax Loss Due to Project Delay
Westminster Group PLC said Tuesday that it expects to report a fall in revenue for the year and subsequent pretax loss, blaming a delay to a multimillion pound technology project in the Middle East and North Africa region.
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IWG Saw Strong 3Q Revenue Growth; Expects 2022 Ebitda at Lower End of Views
IWG PLC said Tuesday that it saw strong revenue growth, margin improvement and underlying cash generation in the third quarter, and it expects full-year earnings before interest, taxes, depreciation and amortization at the lower end of the range of market views.
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Made.com Shares Suspended as Company Expects to Be Wound Up
Made.com Group PLC said Tuesday that its shares have been suspended, and that it expects its listing to cancelled and the company to be wound up.
Market Talk:
Delivery Stocks Surge as Ocado Seals South Korea Deal With Lotte
1005 GMT - Shares in German food-delivery companies Delivery Hero and Hello Fresh rise Tuesday after U.K. peer Ocado reached a partnership deal with South Korean retail giant Lotte. Ocado leads the winners on Europe's Stoxx 600 index, rising more than 30% after agreeing a deal that will see the development of six fulfillment centers in the East Asian country by 2028, and the application of its technology across Lotte's stores. Following the news, Delivery Hero shares rise 11% to EUR36.06, while Hello Fresh gains 8.4% to EUR21.96. British peer Just Eat Takeaway shares in London are up 106.56 pence, or 7.1%, at 1,602.23 pence. (joshua.kirby@wsj.com; @joshualeokirby)
Weather Forecasts Seen as Key For Sterling, European Currencies
1003 GMT - Weather forecasts may play an increasingly important role for European currencies including sterling amid an energy crisis, ING says. It appears sterling extended its losses on Monday after the U.K. meteorological office warned this winter may be colder than usual, ING analyst Francesco Pesole says in a note. "If indeed mild temperatures have favored the easing in energy prices recently, meteorological news may become increasingly relevant drivers for markets, which clearly remain on alert for risks of energy shortages and/or hits to some economies" he says. "European currencies including the pound are obviously the most affected." GBP/USD rises 0.4% to 1.1518 and EUR/GBP is flat at 0.8613. (renae.dyer@wsj.com)
Rentokil Initial Falls as Disinfection Sales Drop
0947 GMT - Rentokil Initial shares top the FTSE 100 fallers, down 4% after the hygiene and pest-control group reported lower third-quarter disinfection-service sales. Sales from disinfection services fell in line with the company's expectations at GBP3.6 million, GBP8.6m lower than the same period a year ago, Rentokil said. "As expected, Rentokil's disinfection services are underperforming during the post-pandemic period, given the tough comparables versus the Covid era when there was supercharged demand for hygiene-related products," Interactive Investor's head of investment, Victoria Scholar, writes. "North America pest control has been struggling also on the back of difficult year-on-year comparables." (philip.waller@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
11-01-22 1259ET
