The FTSE 100 rebounded from yesterday's decline and closed the shortened trading week up 0.34%. The London blue-chip index was helped by a buoyant basic-resource and energy sector, with BP and Shell among the top risers amid oil prices returning to year-high levels this year, and Rio Tinto and Glencore on the back of higher copper prices. Sustainable-technologies company Johnson Matthey was the biggest riser with a 10% jump after a U.S. investor upped its stake. The index finished at 7,464.54 points.


COMPANIES NEWS:

Accsys Technologies Sees FY 2024 Below Market Views on Softening Demand

Accsys Technologies expects its performance for fiscal 2024 to be below market expectations due to softening market conditions across the U.K., Europe and North America.

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Verditek Raises GBP500,000 via Discounted Share Subscription

Verditek has raised 500,000 pounds ($633,650) through a discounted share subscription, with proceeds going toward general working capital.

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Superdry to Focus on Cost Savings After Swing to Pretax Loss

Superdry reported a swing to pretax loss for fiscal 2023 after booking higher costs and impairments and said that it will focus on cost savings given the challenging market conditions.

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Frasers Group Increases Stake in Boohoo to 10.425%

Sports-fashion retailer Frasers Group has increased its shareholding in Boohoo Group to 10.425% of its issued share capital.

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Colefax Group to Launch Tender Offer to Buy Up to 14% of Shares

Colefax Group is planning to launch a tender offer to buy up to 14% of its issued share capital from shareholders.

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Totally Sees FY 2024 Performance in Line With Views Despite Higher Staff Costs

Totally PLC backed its fiscal 2024 performance outlook despite a higher-than-expected increase in staff costs.

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Pan African Resources Says Earnings Weighed by Currency Depreciation

Pan African Resources said earnings for the year ended June 30 are expected to fall mostly due to the depreciation of the South African rand against the dollar.

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Grand Fortune High Grade Shares Suspended on Earnings Report Delay

Grand Fortune High Grade said Friday trading in its shares on the London Stock Exchange was suspended due to the delay of its fiscal 2023 results report.

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RC365 Signs UK Exclusivity Rights Agreement With YouneeqAI

RC365 Holding has signed an exclusive rights agreement with YouneeqAI regarding the distribution and market rights of YouneeqAI's platform within the U.K.

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ThomasLloyd Energy Impact Trust to Hold Further General Meeting Asking for Board's Removal

ThomasLloyd Energy Impact Trust said it will hold a second requisitioned general meeting on Sept. 25 when resolutions will be put to shareholders proposing the removal of its current directors.

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Next Will Buy Warburg Pincus's Interest in the Reiss Group for GBP128 Mln

Next said it will buy Warburg Pincus's 34% interest in the Reiss Group for 128 million pounds ($162.2 million) after agreeing to terms with the Reiss family.

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Genuit Appoints Tim Pullen as Interim CFO

Genuit Group said Friday that Tim Pullen will join the company as interim chief financial officer on Sept. 4.

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Johnson Matthey Shares Jump on Standard Latitude Shareholding

Shares of Johnson Matthey rose 11% in early trade, topping the FTSE 100 index risers, after the company disclosed that Standard Latitude Master Fund has control of 10.08% of its issued share capital via cash-settled equity swaps.


MARKET TALK:

Superdry's Loss Disappoints

0802 GMT - Superdry's FY 2023 loss was worse than expected despite a surprising revenue increase, RBC Capital Markets analysts Manjari Dhar and Richard Chamberlain say in a note. The British clothing brand reported an underlying pretax loss of GBP22 million, compared with RBC's estimate of a GBP10 million loss, they say. The fall was driven by ongoing clearance of aged stock, delayed recovery in wholesale and a return to normal rent and business rates, they add. However, revenue came 2% ahead of expectations, driven by a better-than-feared wholesale performance and robust growth in retail. Looking ahead, Superdry doesn't expect to see significant growth in FY 2024, in line with RBC expectations, the analysts add. (michael.susin@wsj.com)


Contact: London NewsPlus, paul.larkins@wsj.com


(END) Dow Jones Newswires

09-01-23 1242ET