FTSE 100 Drops After Weaker Chinese Data
0755 GMT - The FTSE 100 drops 0.7% to 7169 points as mining and energy stocks fall on lower commodity prices following worse-than-expected Chinese economic data. Energy giants BP and Royal Dutch Shell and miners Glencore, Anglo American and Antofagasta are among the worst performers. "Weaker economic data emanating from China has spoiled the mood, with lower readings on retail sales and industrial production raising questions on whether the recovery momentum can be maintained," Interactive Investor analyst Richard Hunter says. There also remain some health issues in Asia due to rising coronavirus cases while geopolitical concerns have surfaced after Taliban forces swept into Afghanistan's capital city of Kabul on Sunday following the sudden collapse of the country's government, he says. (firstname.lastname@example.org)
BHP Considers Sale of $15 Billion-Valued Petroleum Business
BHP Group Ltd. said it is considering the sale of its petroleum business, a move that would reduce its exposure to fossil fuels amid growing pressure from investors and governments for resources companies to cut emissions.
HSBC Plans $575 Mln Acquisition of AXA Singapore
HSBC Holdings PLC plans to acquire AXA Singapore for $575 million, as the Asia-focused bank steps up efforts to expand its wealth-management business in the region.
Future PLC Buys Dennis From Exponent Private Equity for $416 Mln
Future PLC said Monday that it has acquired Dennis, a consumer media company that publishes titles including Kiplinger, MoneyWeek, The Week and IT Pro, from Exponent Private Equity LLP for around 300 million pounds ($416 million) in cash.
Immotion Says It Achieved Positive Ebitda Year-to-Date on July Performance
Immotion Group PLC said Monday that it has achieved overall Ebitda profitability for the first seven months of the year, thanks to a strong July performance, and that it remains optimistic about its prospects for the second half.
Ultra Electronics Agrees to GBP2.57 Bln Takeover by Advent's Cobham
Ultra Electronics Holdings PLC said Monday that it has agreed to a 2.57 billion-pound ($3.56 billion) takeover by Cobham Ultra Acquisitions Ltd., as first announced last month.
Shares in i3 Energy Rise as Net Operating Income Guidance Is Raised
Shares in i3 Energy PLC rose Monday after the company raised its net operating income guidance for the next 12 months.
Just Group Sells Mortgage Portfolio to Rothesay Life for GBP334 Mln
Just Group PLC said Monday that it sold a proportion of a portfolio of lifetime mortgages to Rothesay Life for 334 million pounds ($463.1 million) and that it expects to sell the remaining tranche of loans over the coming weeks.
MTI Wireless Edge 1H Pretax Profit, Revenue Rose
MTI Wireless Edge Ltd. said Monday that pretax profit and revenue for the first half of 2021 rose, and that it is well placed to continue to increase its revenue streams and profitability.
Clipper Logistics Signs New Contract With John Lewis
Clipper Logistics PLC said on Monday that it has signed a new contract with U.K. department store chain John Lewis Partnership PLC, and that around 200 new jobs will be created at its Bardon, England, facility to support the new contract.
Clipper Logistics' New Contract Win Seen as Positive
0833 GMT - Clipper Logistics' latest contract win with U.K. department store chain John Lewis is positive and follows previous wins and/or extensions with River Island, ASOS in Europe, and letters of intent with JD Sports and others, Shore Capital says. "These contracts demonstrate the group's key role in the provision of end-to-end services in the online retailing sector," the U.K. investment group says. Shore Capital has an 801 pence target price on the logistics-services provider's stock. Shares are down 0.9% at 794 pence. (email@example.com)
UK Inflation Seen Continuing Its Way Up
0822 GMT - The U.K.'s inflation data for June provided another jolt to markets, beating consensus expectations, says Sanjay Raja, U.K. economist at Deutsche Bank. The annual inflation rate was 2.5% in June, while core inflation reached 2.3%. Deutsche Bank forecasts U.K. inflation cooled marginally in July as base effects and some negative payback in core goods weighed on annual price growth. The bank expects consumer price inflation inched down to 2.4% in July, while core consumer price inflation remained flat at 2.3%. Inflation risks remain tilted to the upside, Raja says. Looking ahead, Deutsche Bank continues to see the path of inflation as up, with peak annual inflation printing close to 4%. (firstname.lastname@example.org)
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(END) Dow Jones Newswires