FTSE 100 Rises After Robust China PMI Data
0856 GMT - The FTSE 100 rises 0.6% to 7919 points after strong Chinese purchasing managers' index surveys Wednesday fuelled hopes for the country's economy recovery after lifting strict Covid-19 rules. China-exposed stocks rally including mining shares, luxury fashion group Burberry and insurer Prudential. Weir Group shares jump 7.6% after the engineer's 2022 pre-tax profit beat forecasts. Reckitt Benckiser climbs 0.5% after the consumer goods group's full-year like-for-like net revenue exceeded expectations. Housebuilder Persimmon slumps 8.9%, dragging sector peers lower, after slashing its dividend and warning profits would be hit by a slowing housing market and higher mortgage rates. Housebuilders are also dented by Nationwide data Wednesday that showed a worse-than-expected 1.1% year-on-year fall in U.K. house prices in February. (renae.dyer@wsj.com)
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.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
03-01-23 0414ET
