FTSE 100 Closes Down 1.4% on US Credit Rating -2-

0949 GMT - Haleon's 2Q performance showed better-than-expected sales growth driven by oral and respiratory categories, and the company lifted its 2023 sales-growth guidance, Jefferies analyst Molly Wylenzek and equity associate Feng Zhang say in a note. However, the consumer-healthcare company has switched its focus from operating margins to operating profit growth of 9%-11% at constant currency, they say, noting that this implies a 2% downgrade to operating profit compared with current market views. ([e-mail])

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Hochschild Mining's Permit Approval Removes Key Investment Worry

0916 GMT - Hochschild Mining's permit approval for its Peruvian Inmaculada mine removes a key concern for the investment case, RBC Capital Markets analysts Marina Calero and Tyler Broda write in a research note. "As we have highlighted before, we believe the market was pricing a low probability of the permit being received before the end of the year," the analysts say. RBC estimates the precious-metals miner's net asset value per share at 180 pence and at 133 pence had the permit been denied, they say. RBC keeps an outperform rating and a 100 pence price target on the stock. Shares are up 17% at 88.95 pence. ([e-mail])

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(END) Dow Jones Newswires

08-02-23 1204ET