The FTSE 100 Index closed up 0.3% to 7628 points, outperforming its European peers after a hawkish rate hike from the European Central Bank, with gains in health care, energy and consumer staples helping to offset the weakness in basic resources and financials, CMC Markets U.K. chief market analyst Michael Hewson says in a note. Retailer Ocado shares led the index with a rise of 5.1%, followed by Informa and RS Group, up 3.4% and 2.0% respectively. In the opposite side, bank NatWest's shares were down 3.5%, while Halma closed down 3.4% after reporting a FY 2023 performance below expectations.


COMPANIES NEWS:

Legal & General Names Antonio Simoes as New CEO

Legal & General on Thursday named Antonio Simoes as its incoming chief executive officer, and said it expects him to formally take over the role on the first day of 2024.

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Bunzl Sees Current-Year Operating Margin Slightly Below 2022 After 1H Growth

Bunzl on Thursday said it sees its operating margin for 2023 coming in slightly lower than in 2022 as it expects to post revenue growth driven by acquisitions for the first half of the year .

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Informa Lifts 2023 Guidance After Strong Five-Month Performance

Informa said on Thursday that it has increased its full-year guidance on the back of strong performances across businesses in the first five months of the year, and that it will deliver double-digit growth in dividends in the year.

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ASOS Backs Guidance After Return to Profitability in 3Q

ASOS confirmed its forecasts for the year after returning to profitability in the third quarter of fiscal 2023 in spite of lower revenue.

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Halma's FY 2023 Pretax Profit Missed Consensus; Reports Positive Start to Current Year

Halma said Thursday that pretax profit for fiscal 2023 fell, missing consensus and reflecting a non-recurring gain the year before, but that it had made a positive start to the current year.

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JTC Raises GBP62 Mln in Share Placing at Discount

JTC said Thursday that a total of 8.9 million shares have been placed at a price of 700 pence a share, raising gross proceeds of 62.0 million pounds ($78.5 million).

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Fuller Smith & Turner FY 2023 Pretax Profit Fell on Higher Costs; Keeps Buybacks Under Review

Fuller Smith & Turner said Thursday that pretax profit for fiscal 2023 fell after it booked higher costs, and that the board was keeping further share buybacks under review and in line with its capital allocation framework.

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RHI Magnesita Sees 2023 Earnings Outperforming Guidance Modestly

RHI Magnesita on Thursday said it expects to beat its 2023 earnings guidance modestly after its performance in the first five months of 2023 was stronger than expected as it maintained pricing while reducing costs.

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Chaarat Gold Appoints Interim CFO to Role on Permanent Basis; COO to Leave

Chaarat Gold said Thursday that it has appointed Interim Chief Financial Officer David Mackenzie to the role on a permanent basis, and that Chief Operating Officer Darin Cooper will soon leave the business to pursue other opportunities.

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Brooks Macdonald Names Andrea Montague as Incoming CFO

Brooks Macdonald said Thursday that it has appointed Andrea Montague as incoming chief financial officer, effective from August 1.

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GB Group Swung to a Pretax Loss in 2023 on Increased Operating Expenses

GB Group said Thursday that it swung to a pretax loss in fiscal 2023 despite revenue rising 15%.

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Syncona Swung to FY 2023 Pretax Loss; To Deploy GBP150 Mln-GBP200 Mln in Capital

Syncona said Thursday it swung to a pretax loss for fiscal 2023 after booking net losses on financial assets at fair value, and that it expects to deploy 150 million pounds to 200 million pounds ($190 million to $253.3 million) of capital in fiscal 2024.

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RA International Brings Forward Finance Chief Departure; Names Interim CFO

RA International said Thursday that it has brought forward the leaving date of Chief Financial Officer Andrew Bolter to be effective immediately, and named Group Financial Controller David Marshall as interim CFO.

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Chaarat Gold Shares Fall After Swinging to 2022 Pretax Loss

Chaarat Gold shares fell Thursday after the group swung to a pretax loss and posted lower revenue for 2022, a year marked by higher energy costs and inflation due to the war in Ukraine, and the appreciation of the Armenian dram.

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CAB Payments Confirms Intention to List on the London Stock Exchange

CAB Payments Holdings on Thursday confirmed its intention to float in London via premium listing after receiving significant interest from potential investors.

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Norcros FY 2023 Pretax Profit Fell on Higher Costs, But Revenue Rose

Norcros said Thursday that pretax profit fell in fiscal 2023 on higher acquisition and finance costs, while revenue rose on a strong performance in both its regional markets.

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N. Brown 1Q Revenue Fell on Poor Weather, Low Consumer Confidence; Backs Guidance

N. Brown Group said Thursday that revenue in the first quarter of fiscal 2024 fell, reflecting poor early spring weather and low consumer confidence, but backed its guidance for the year.

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Parity Says Economic Uncertainty Hurting Ability to Build on 2022 Achievements

Parity Group said Thursday that the uncertainty in the economy was making it more challenging to build on 2022's achievements but nonetheless it continues to believe permanent recruitment will be a future area of growth for the business.

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Praetura Growth VCT Targets GBP10 Million in London IPO

Praetura Growth VCT said it was seeking to raise 10 million pounds ($12.7 million) through an initial public offering on the London Stock Exchange.

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Bezant Resources Extends Repayment Date for Funding Facility

Bezant Resources said Thursday that it has agreed with long-term shareholder Sanderson Capital Partners to extend the repayment date for the 700,000 pounds ($885,206) funding facility.

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Unilever to Acquire US Premium Yogurt Brand Yasso

Unilever said late Wednesday that it entered into an agreement to acquire the U.S.-based premium frozen Greek yogurt brand Yasso Holdings, without disclosing financial details around the deal.

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H&M, ASOS Shares Jump After Fashion Retailers' Positive Updates Cheer Investors

Shares in H&M and ASOS were among the biggest gainers in Europe on Thursday as investors rewarded the fashion retailers for positive trading updates.

MARKET TALK:

Warpaint London's Exceptional Performance Continues

1159 GMT - Warpaint London's unscheduled performance update confirmed a robust revenue growth, which suggests an exceptional increase by 54% through April and May, Shore Capital analysts Darren Shirley and Clive Black say in a note as shares rise 13%. The cosmetics company upgraded its 2023 views following a sustained period of exceptional performance as its U.K. and international growth strategies are providing considerable results, they add. Shore upgrades its 2023 EPS views by around 19%, and raises 2024 and 2025 EPS expectations by 16% and 13%, respectively. "Warpaint has strongly building momentum and remains in the foothills of its global growth opportunity, in our view. The valuation remains attractive," the analysts add. (michael.susin@wsj.com)

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RHI Magnesita's Improved Outlook to Prompt Consensus Upgrade

1156 GMT - RHI Magnesita's trading update suggests consensus on its earnings will rise by an upper single digit percentage, RBC Capital Markets says in a note after the company said it expects a modest beat on 2023 Ebita guidance. The FTSE 250 supplier of refractory products' five-month update implies Ebita of just over EUR200 for the first half, which suggests full-year consensus of EUR340 million falls short, analyst Mark Fielding says, adding that RBC's EUR362 million estimate appears more in line with the direction of travel. "A positive update in terms of YTD profits with upside to consensus--and maybe further upside risks in 2H as demand recovers," Fielding says. Shares are up 1.1% at 2,608 pence. (elena.vardon@wsj.com)

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Central Banks Likely to Set High Bar for Rate Cuts

1150 GMT - Central banks are expected to set the bar high before implementing interest-rate cuts as they strive to bring inflation down to the 2% target, say Carmignac analysts in a webinar. "The bar for cutting rates will be very high," they say. Central banks are likely to keep interest rates high for longer rather than raise rates further until the 2% inflation target is achieved, the analysts say. "Hiking rates too much could result in financial instability," the analysts say. (miriam.mukuru@wsj.com)

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Unemployment Rates Could Rise Considerably in the Fight Against High Inflation

1053 GMT - Unemployment rates in the U.S., U.K. and Europe could rise considerably as central banks keep interest rates high in the fight against high inflation, say Carmignac analysts in a webinar. "Economies may have to accept a sharp rise in unemployment before inflation rates return to the 2% target," they say. The central bank rate rises are expected to hurt economies before the 2% inflation target is achieved, according to the analysts. "U.K. could experience a financial crisis like the autumn crisis as interest rates keep rising," the analysts say. (miriam.mukuru@wsj.com)

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Asos Still Faces Risks, But Bid Talk Might Underpin Shares

1053 GMT - Asos shares jump 12% to 367 pence after the online fashion retailer reported a return to profit in the third quarter and reiterated second-half and full-year guidance. While the company is making slow and steady progress, risks to its ability to achieve its aims remain high and its gross margin could remain under pressure for longer, Liberum Capital says. "That said, credit is worthy of what management are trying to do and bid speculation could mean interest in the shares remains high," Liberum analysts say in a note, reiterating their hold recommendation and 470 pence price target. (philip.waller@wsj.com)

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Bunzl Falls After Forecasting Flat 1H Revenue, Margins

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06-15-23 1212ET