The FTSE 100 index ended the session 0.49% higher on Wednesday after the Bank of England governor said nothing is decided on future interest rate rises. "It would be a brave person who put much faith in Andrew Bailey's comments about U.K. interest rates, but his view that rates might not need to keep rising has put the FTSE 100 on top among global indices while seeing the pound drop back against the dollar and fall more dramatically against the euro," IG analyst Chris Beauchamp said. Read across from Asian markets after positive Chinese PMI numbers also boosted the British index as basic resources and industrial stocks rallied, CMC Markets analyst Michael Hewson noted.
COMPANIES NEWS:
Reckitt Benckiser Swung to 2022 Profit, Beat Market Views
Reckitt Benckiser Group PLC reported on Wednesday a better-than-expected swing to pretax profit in 2022 on the back of lower costs and raised its dividend payout.
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Persimmon 2022 Profit Fell on Charges; Sees Lower 2023 Completions
Persimmon PLC said Wednesday that pretax profit fell in 2022 on exceptional charges despite higher selling prices, and its current sales rate implies that 2023 completions will fall significantly.
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Purplebricks Receives Credible Takeover Interest After Launching Review
Purplebricks Group PLC said Wednesday that it has received several credible expressions of acquisition interest after launching a strategic review on Feb. 17, which management intends to pursue.
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Weir Group 2022 Pretax Profit Rose on Strong Order Activity
Weir Group PLC said Wednesday that 2022 pretax profit rose, beating consensus, on higher revenue due to strong order activity, and that 2023 started with a record order book and positive conditions in mining markets.
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Rathbones 2022 Pretax Profit Fell on Higher Costs, Raises Dividend
Rathbones Group PLC said Wednesday that pretax profit for 2022 fell on the back of higher costs and raised its dividend payout.
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Aston Martin 2022 Pretax Loss Widened as Pound Weakens Against Dollar
Aston Martin Lagonda Global Holdings PLC said Wednesday that it pretax loss widened for 2022 as it booked a hit from the weakening of the U.K. pound against the U.S. dollar.
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Persimmon 2022 Profit Fell on Charges; Sees Lower 2023 Completions, Profits -- Update
Persimmon PLC said Wednesday that pretax profit fell in 2022 on exceptional charges despite higher selling prices, and its current sales rate implies that 2023 completions will fall significantly together with profits.
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Artemis Resources to Raise A$2.6 Mln for Exploration Activities
Artemis Resources Ltd. said Wednesday that it will raise 2.6 million Australian dollars ($1.7 million) via a discounted placing, and that it will use proceeds to fund its exploration activities in 2023.
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International Personal Finance 2022 Pretax Profit Rose, Raises Dividend
International Personal Finance PLC said Wednesday that pretax profit for 2022 rose, supported by a positive performance across all three divisions and that it has raised its dividend payout.
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Nichols Swung to 2022 Pretax Profit on Cost Controls; Proposes Dividend
Nichols PLC on Wednesday reported a return to pretax profit for 2022 despite inflationary pressures which hurt the second half of the year in particular, and said it expects to meet market expectations for 2023.
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Haydale Graphene 1H Pretax Loss Widened; On Track to Meet Views
Haydale Graphene Industries PLC said Wednesday that its pretax loss widened for the first half of fiscal 2023 after booking higher costs, and that it was on track to meet expectations for the financial year.
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Ricardo Swung to 1H Pretax Loss on Impairments; to Meet FY 2023 Forecasts
Ricardo PLC on Wednesday reported a swing to pretax loss for the first half of fiscal 2023 after booking a number of impairments, but said it is on track to meet the board's full-year expectations.
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Glanbia to Buy Back Shares of Up to EUR50 Mln After 2022 Pretax Profit Rose
Glanbia PLC said Wednesday that pretax profit rose in 2022 driven by a robust brand performance, adding that it raised its dividend payout and that it will buy back shares.
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Glenveagh 2022 Profit Rose on Suburban Strength; Outlook Positive
Glenveagh Properties PLC said Wednesday that its 2022 pretax profit and revenue rose on 50% growth in its suburban division, and said it was well-placed for the future.
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GetBusy 2022 Pretax Loss Narrowed on Strong US Showing
GetBusy PLC on Wednesday reported a narrowed pretax loss for 2022 thanks to revenue growth, particularly in its U.S. market, and said it has had a strong start to the new year.
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Mobile Tornado to Raise GBP500,000; Sees 2022 Revenue Fall
Mobile Tornado Group PLC said Wednesday that it plans to raise 500,000 pounds ($601,150) via a discounted subscription and that it expects revenue for 2022 to fall on year.
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Public Policy Holding Buys MultiState Associates for Initial $22 Mln
Public Policy Holding Co. said Wednesday it has acquired MultiState Associates, Inc. for an initial $22 million consideration, and secured a $17 million facility with Bank of America.
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Harland & Wolff Backs Revenue Forecasts on GBP900 Mln Contracted Revenue Backlog
Harland & Wolff Group Holdings PLC said Wednesday it backed its revenue forecast for 2023 and 2024 on the strength of its around 900 million pounds ($1.08 billion) backlog of confirmed contracted revenue.
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Bradda Head Lithium Settles Claim With Arizona Lithium, Agrees Exchange
Bradda Head Lithium Ltd. said Wednesday that it has settled a claim in Arizona with Arizona Lithium Ltd., agreeing a claim exchange instead of litigation or further dispute-resolution proceedings.
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Co-Operative Bank 2022 Pretax Profit Boosted by Higher Interest Rates
Co-Operative Bank Finance PLC said Wednesday it reported a more than four-fold rise in pretax profit for 2022 despite higher operating expenses, as it benefited from higher interest rates.
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Record Appoints David Morrison as Chairman Elect, Neil Record to Retire
Record PLC said Wednesday that it has appointed David Morrison as chairman elect with effect from March 1.
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Inland Homes Shares Fall After Much of Board Quits; Former CEO to Return
Inland Homes PLC shares fell Wednesday after it said that Chairman Simon Bennett and non-executive directors Carol Duncumb and Brian Johnson have resigned with immediate effect, and it intends to re-appoint Founder and former Chief Executive Officer Stephen Wicks.
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Cordel CEO Resigns to Become Vice President of EMEA, Names Interim Chief Executive
Cordel Group PLC said Wednesday that Chief Executive Officer Nick Smith has resigned from his role to become vice president of the company's Europe and Middle East division, and that Nonexecutive Director John Davis has been appointed interim CEO.
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SDX Energy Interim CFO Daan Hanssen Resigns
SDX Energy PLC said Wednesday that interim Chief Financial Officer Daan Hanssen has resigned and will be leaving the company at the end of May to pursue other interests.
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BiVictriX Therapeutics Names Alex Hughes as New CFO
BiVictriX Therapeutics PLC said Wednesday that it has appointed Alex Hughes as chief financial officer, with current CFO Glyn Baker stepping down from his role at the end of March.
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Active Energy Appoints Steve Schaar as COO
Active Energy Group PLC said Wednesday that it has appointed Steve Schaar as chief operating officer, as part of the group focus on the development of its CoalSwitch production in the U.S.
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Cambria Africa Shares on AIM Temporarily Suspended Pending Accounts Publication
The U.K.'s Financial Conduct Authority said Wednesday that trading of Cambria Africa PLC shares on London's junior AIM market had been temporarily suspended pending the publication of the company's annual audited accounts.
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UK Regulator Accepts Korean Air, Asiana Airlines Merger Undertakings
The U.K. Competition and Markets Authority said that it has accepted undertakings regarding competition concerns over the buyout of Asiana Airlines Inc. by Korean Air Lines Co., and therefore the merger won't be referred for further review.
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Rotala: Investor Nigel Wray Reduces Stake to 8.84%
Rotala PLC said Wednesday that U.K. entrepreneur and investor Nigel Wray has reduced his stake in the company to 8.84% from 15.57%.
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Everest Global Shares Temporarily Suspended on FY 2022 Results Delay
Everest Global PLC said Wednesday that its shares have been temporarily suspended until it publishes its fiscal 2022 results, which it expects to do in June.
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Aeorema Communications Had Strong Start to FY 2023; Sees Higher Revenue, Profit
Aeorema Communications PLC said Wednesday that it has had a strong start to fiscal 2023 and expects to report higher revenue and pretax profit for the first half.
MARKET TALK:
Reckitt's Nutrition, Health Beat Shows Preference for Big Brands
1247 GMT - Reckitt Benckiser's nutrition and health market performance beat expectations, showing that big brands still count in these areas, AJ Bell investment director Russ Mould says in a note. "At a time when household budgets are under real pressure, you'd think people would be happy to buy unbranded over-the-counter drugs but products like Nurofen still look to be a winner with consumers," Mould adds. Meanwhile, the consumer-goods company's ability to pass on higher costs helped to counter lower sales volumes, but these short-term gains could easily turn into a long-term problem if the group loses market share to its rivals, he says. (michael.susin@wsj.com)
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Accrol's Unilever Agreement Likely to Encourage Shareholders
(MORE TO FOLLOW) Dow Jones Newswires
03-01-23 1226ET
