FTSE 100 Falls Ahead of BOE Policy Decision

The FTSE 100 falls 0.1% to 7119 points as investors eye the Bank of England's policy decision at 1100 GMT Thursday. Mining shares are among the worst performers with Anglo American, Rio Tinto and BHP Group falling 1.7%, 1.4% and 1.0% respectively. WPP is the top riser, up 3.1%, after the advertising giant swung to a pre-tax profit for the first half and raised its full-year guidance. Rolls-Royce shares gain 1.1% after the engine maker said it returned to a pre-tax profit in the first-half. Evraz climbs 0.9% after the steelmaker reported its first-half net profit more than doubled.


 
Companies News: 

WPP PLC Swung to 1H Pretax Profit; Raises 2021 Guidance

WPP PLC on Thursday reported a swing to pretax profit for the first half of the year and raised its full-year guidance.

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Mondi 1H Performance Stable; Declares Dividend

Mondi PLC reported Thursday a stable set of results for the first half with a small decline in pretax profit and it declared a dividend.

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Rolls-Royce Swung to 1H Pretax Profit

Rolls-Royce Holdings PLC said Thursday that it swung to a pretax profit for the first half of 2021 after booking lower costs, and that it expects to turn free cashflow positive during the second half.

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Evraz 1H Profit Doubled Amid Stronger Steel Prices

Evraz PLC on Thursday reported that its net profit more than doubled in the first half of the year, reflecting higher prices for steel, vanadium and coal.

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Frasers FY 2021 Pretax Profit Fell; In Talks to Appoint Michael Murray CEO

Frasers Group PLC on Thursday reported a significant decline in pretax profit for fiscal 2021, and said it is in talks to move Michael Murray into the chief-executive role in fiscal 2022.

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Hammerson 1H Pretax Loss Narrowed

Hammerson PLC reported on Thursday a significantly narrowed pretax loss for the first half of 2021, and said like-for-like net rental income rose slightly.

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Serco 1H Pretax Profit, Revenue Rise; To Pay First Interim Dividend Since 2014

Serco Group PLC said Thursday that pretax profit and revenue rose for the first half of 2021 and that it was declaring the first interim dividend since 2014.

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Savills 1H Pretax Profit, Revenue Rise

Savills PLC said on Thursday that pretax profit rose for the first half as revenue rose, and that it was declaring an interim dividend for the period.

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ScS Group Sees FY 2021, FY 2022 Performance Beating Market Expectations

ScS Group PLC said Thursday that its performance for fiscal 2021 and fiscal 2022 is expected to be above market expectations given its strong order book and positive recent trading.

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Secure Trust Bank 1H Pretax Profit Rose; Resumes Dividend

Secure Trust Bank PLC reported on Thursday a significant rise in pretax profit for the first half of 2021 and resumed dividends.

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Spirent Communications 1H Pretax Profit Fell

Spirent Communications PLC said on Thursday that first-half pretax profit fell after it booked higher costs, and that it is putting together an opportunity pipeline to support its mergers and acquisitions strategy.

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Camellia Exits Aerospace Market With Unit Sale

Camellia PLC said Thursday that it is exiting the aerospace market with the sale of its interests in Abbey Metal Finishing Co. and its subsidiary Atfin GmbH in Germany, citing the downturn in the market and recent losses.

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Centamin 1H Profit Fell on Weaker Production, Higher Costs

Centamin PLC said Thursday that its net profit for the first half of the year fell 20%, reflecting weaker gold production and higher unitary costs.

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Mkango Resources to Buy Remaining Stakes in Songwe Hill, Maginito; Shares Rise

Shares in Mkango Resources Ltd. rose Thursday after the company said it is increasing its ownership over the Songwe Hill rare earths project in Malawi and Maginito Ltd. to 100% for 13 million pounds ($18.1 million) in shares.


 
Market Talk: 

Frasers FY 2021 Earnings Strong Despite Revenue Decline

0730 GMT - Frasers's results for fiscal 2021 were solid against a tough backdrop despite reporting an 8.4% fall in revenue, Liberum says. The U.K. sport-fashion retailer's strategy and ambition to reach GBP2 billion in sales by fiscal 2026 highlights the company's confidence in its performance, the brokerage says. Liberum continues to forecast a double-digit adjusted pretax profit compound annual growth rate, and says it sees valuation support from the balance-sheet strength and cash generation.

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Rolls-Royce Can Expect Consensus Upgrades After Strong 1H Ebita Performance

0729 GMT - Rolls-Royce's structuring and disposal programs are going well, and its 1H free cashflow and Ebita were both ahead of consensus, Jefferies says. Importantly, management's free cashflow guidance for 2021--it expects to improve the free cash outflow to around GBP2.0 billion from GBP4.2 billion in 2020--was unchanged, the U.S. bank says. Furthermore, given the engineering company's strong 1H Ebita performance, upgrades to consensus are expected, Jefferies says. "The group's outlook continues to improve and management continue to invest for the long term, and although international recovery is proving to be slower than was hoped for, this is already assumed in free cashflow consensus for 2022 forecasts," it says. Jefferies rates the stock as a buy with a 130-pence target price.

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Sterling Rises as Traders Eye BOE Decision

0707 GMT - Sterling rises as traders await the Bank of England's policy decision at 1100 GMT Thursday. RBC Capital Markets currency strategist Adam Cole notes that BOE policymaker Michael Saunders and the central bank's Deputy Governor Dave Ramsden recently discussed paring back bond purchases, although it is unlikely a majority will vote for this yet. "A substantial part of the government's fiscal support is being withdrawn at the end of September and we think risk management considerations mean that there is still a majority in favor of continuing with quantitative easing as planned." The BOE is likely to vote 6-2 to maintain QE, with Saunders and Ramsden the only outliers, which could be disappointing for some sterling investors, Cole says. GBP/USD rises 0.1% to 1.3897 and EUR/GBP falls 0.1% to 0.8517.

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(END) Dow Jones Newswires

08-05-21 0406ET