FTSE 100 Falls as Pound Rises on Reopening Optimism

0731 GMT - The FTSE 100 falls 0.1% to 7156 points as a stronger sterling weighs on overseas revenue earners. Sterling rises after the U.K. government confirmed plans to scrap most of England's coronavirus restrictions from July 19. Oil prices are also higher after OPEC and its allies failed to resolve a deadlock over oil production, potentially endangering a deal for easing output curbs. Energy shares BP and Royal Dutch Shell gain. Ocado Group shares rise 2.2% after the online grocer posted a significantly narrowed pre-tax loss for the first half. J Sainsbury edges up 0.1% after the supermarket chain reported a rise in first-quarter comparable retail sales and raised its full-year guidance. (renae.dyer@wsj.com)


 
Companies News: 

Bridgepoint to Raise GBP300 Mln in London IPO

Bridgepoint Group PLC on Tuesday confirmed that it intends to undertake an initial public offering in London and raise around 300 million pounds ($415.4 million).

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Ocado's 1H Pretax Loss Narrowed Materially

Ocado Group PLC reported Tuesday a significantly narrowed pretax loss for the first half of fiscal 2021 and said that it is keeping its full-year forecasts unchanged.

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J Sainsbury 1Q Comparable Retail Sales Increased; Raises Guidance

J Sainsbury PLC said Tuesday that comparable retail sales for the first quarter of fiscal 2022 increased, and raised its guidance for the full year.

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Assura Acquired 12 Properties for GBP53 Mln in 1Q

Assura PLC on Tuesday reported 12 property additions for the first quarter for a total cost of 53 million pounds ($73.4 million).

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Sutton Harbour Seeks GBP3.5 Mln Equity Issue; Posts FY 2021 Loss

Sutton Harbour Group PLC said Tuesday that it intends to raise 3.5 million pounds ($4.8 million) via share issue, and reported a loss for the fiscal year.

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Purplebricks Swung to FY 2021 Pretax Profit

Purplebricks Group PLC said Tuesday that it swung to a pretax profit for fiscal 2021 on the back of higher revenue, and said it expects adjusted earnings for this year to be flat, in line with market forecasts.

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Dalata Hotel Expects 1H Adjusted Ebitda to Be Close to Break-Even

Dalata Hotel Group PLC said Tuesday that it expects first-half adjusted earnings before interest, taxes, depreciation and amortization to be close to break-even as it mitigates the effect of reduced trading levels due to the pandemic.

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Gresham Technologies Expects First-Half Revenue to Rise

Gresham Technologies PLC said Tuesday that it expects to report higher revenue for the first half of the year.

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Alfa Financial Software Raises 2H, Full-Year Revenue Views

Alfa Financial Software Holdings PLC said Tuesday that revenue expectations for the first half remain unchanged, but that its views for its second-half and full-year revenue have improved.

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Argo Blockchain's June Revenue Rose On Rise in Mined Bitcoins

Argo Blockchain PLC said Tuesday that it mined more bitcoins during the month of June than during the previous month, seeing a rise in revenue for the period.

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Churchill China May, June Revenue Recovered to 2019 Levels; Reinstates Dividend

Churchill China PLC said Tuesday that revenue in May and June recovered to 2019 levels, and that the board was reinstating a dividend.

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Marston's Appoints Hayleigh Lupino as CFO

Marston's PLC said Tuesday that it has appointed Hayleigh Lupino as chief financial officer with effect from Oct. 3, succeeding Andrew Andrea, who is poised to become the company's next chief executive.

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Kosmos Energy Flags Delays at Greater Tortue Ahmeyim Gas Project

Kosmos Energy Ltd. on Tuesday said that first gas from its Greater Tortue Ahmeyim project offshore Mauritania and Senegal is now expected in the third quarter of 2023 due to supplier delays and cost inflation.

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Mercia Asset Management Swung to Fiscal 2021 Pretax Profit

Mercia Asset Management PLC reported Tuesday a swing to a pretax profit for fiscal 2021 and said that its performance was driven by the changes it made as a result of Covid-19.

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Fragrant Prosperity Holdings Ltd Update on Intended Acquisition

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Tufton Oceanic Assets Says 2Q Containership, Bulker Markets Continued to Strengthen

Tufton Oceanic Assets Ltd. said Tuesday that the containership and bulker markets have continued to strengthen during the second quarter and that although the tanker market remains weak, it is "insulated by its strong contractual coverage."

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McKay Securities Extends Buyback Program

McKay Securities PLC said Tuesday that it has extended a share-buyback program of up to 6.3 million pounds ($8.7 million) until its 2022 annual general meeting.

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RM PLC's 1H Pretax Profit Jumped

RM PLC on Tuesday reported a significant rise in pretax profit for the first half of fiscal 2021 as a result of a material improvement in revenue during the period.

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Gateley on Track to Meet Expectations FY 2022; Delays FY 2021 Results

Gateley (Holdings) PLC said Tuesday that it is on track to meet market expectations for fiscal 2022, and that publication of its fiscal 2021 results will be delayed.

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FIH Group Shares Fall After It Reports Lower FY 2021 Revenue, Dividend Remains Suspended

Shares in FIH Group PLC fell after the company said revenue for fiscal 2021 fell as a result of the coronavirus pandemic, and that it wasn't declaring a dividend.


 
Market Talk: 

Sterling Rises as England to Exit Lockdown

0700 GMT - Sterling's current gains may be related to the U.K. government's decision to lift most of England's remaining coronavirus restrictions from July 19 but this link looks fragile, ING says"Even the Bank of England would admit that the final stage of reopening the economy will have little impact on economic activity," ING analysts say. Sterling lacks the momentum to fall below the key support level in EUR/GBP at 0.8530 or push above resistance at 1.3930/40 in GBP/USD, they say. GBP/USD rises 0.3% to a one-week high of 1.3899 and EUR/GBP falls 0.1% to 0.8560 after earlier hitting a 12-day low of 0.8549, according to FactSet. (renae.dyer@wsj.com)

UK July 2031 Gilt's Scarcity Likely to Boost Demand at Auction

0730 GMT - The U.K. Debt Management Office's planned sale of GBP2.75 billion in 0.25% in the July 2031 gilt should attract demand due to its scarcity and favorable valuation on certain metrics, says RBC Capital Markets. "Whilst the bond doesn't look particularly cheap, we have seen concessions on asset swap spreads, on the curve and on micro-relative value over yesterday's session," analysts at the Canadian bank say. The scarcity of the bond is likely to boost demand further at the auction. The Bank of England's Asset Purchase Facility bought GBP1.7bn nominal of the bond since the last tap on June 2, indicating that investors are "likely going into the event short the bond, which should support demand today," they say. (lorena.ruibal@wsj.com)

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

(END) Dow Jones Newswires

07-06-21 0349ET