The FTSE 100 Index closed Thursday down 0.4% to 7471 points on the back of higher U.K. yields while the potential demise of Thames Water put the utilities sector under pressure, IG Group chief market analyst Chris Beauchamp says in a note. "Fears of a domino effect in the industry are at fever pitch, though no other specific names have yet been mentioned," he adds. Convenience retailer B&M was the index worst performer as shares fell 5% after it reported its 1Q update, followed by Rentokil, down 4.7%.


COMPANIES NEWS:

B&M European Value Retail 1Q Revenue Rose on Strong Momentum

B&M European Value Retail SA said Thursday that revenue rose in the first quarter of fiscal 2024 after it recorded strong, profitable business momentum across all three of its divisions in recent weeks.

---

Direct Line Says Motor Total Loss Claims Review Won't Have Material Financial Impact on 2023

Direct Line Insurance Group on Thursday said the business review into five years of motor total loss claims it is undertaking isn't expected to have a material financial impact in 2023.

---

Serco to Report Rise in 1H Revenue, Underlying Trading Profit; Raises 2023 Guidance

Serco said Thursday that reported revenue grew around 13% in the first half and that it raised its revenue and underlying trading profit, or UTP, guidance for the year by 4%.

---

Moonpig FY 2024 Pretax Profit Hit by Higher Costs; Sees Low Single-Digit 1H Revenue Growth

Moonpig Group on Thursday reported a 13% fall in pretax profit for fiscal 2023 as it booked higher expenses and despite revenue rising, and said that it expects low single-digit revenue growth for the first half of the new year.

---

Cineworld's Chapter 11 Reorganization Plan Confirmed by US Court

Cineworld Group said Thursday that its amended Chapter 11 plan of reorganization has been confirmed by the U.S. bankruptcy court for Texas, paving the way for it to implement its planned restructure and emerge from its Chapter 11 cases.

---

Likewise's 1H Sales Rose 18%; On Track to Achieve 2023 Views

Likewise Group said Thursday that first-half sales rose 18%, and that it was on target to achieve its current market expectations for 2023.

---

De La Rue Backs FY 2024 Guidance on Currency Recovery

De La Rue on Thursday backed its outlook for fiscal 2024 as it sees signs of recovery in its currency division, after weak demand in fiscal 2023 led it to swing to a pretax loss.

---

IWG Cautiously Optimistic for Rest of 2023; Extends Loan Maturity

IWG said Thursday that said it remains cautiously optimistic for the rest of 2023, and that it has extended the maturity of its line of credit.

---

Morgan Sindall Sees 2023 Performance Ahead of Expectations

Morgan Sindall Group said Thursday that it expects the company's performance this year to be ahead of previous expectations due to continued strong momentum in its fit out unit and forward order book, with earnings more first-half weighted than in recent years.

---

Time Finance FY 2023 Pretax Profit, Revenue Beat Views

Time Finance on Thursday posted pretax profit and revenue for fiscal 2023 ahead of expectations, driven by growth in its divisions operating in larger-ticket lending spaces.

---

Boohoo Says Revolution Beauty's Awards to Management Isn't in Shareholders' Interest

Boohoo Group said Thursday that Revolution Beauty Group's granting of nil cost share option awards to Chief Executive Bob Holt, Chief Financial Officer Elizabeth Lake and sixteen other management team members wasn't in the best interests of shareholders.

---

tinyBuild Shares Slide on Profit Warning, CFO Steps Down

tinyBuild shares plummeted Thursday after the videogame company warned that its revenue and earnings will be below expectations, and said that its chief financial officer has stepped down for personal reasons.

---

PPHE Hotel Group Sees 2023 Performance Above Views After Improved 1H Revenue

PPHE Hotel Group said Thursday that it anticipated a rise in first-half revenue, and that it expects revenue and Ebitda for the year to be above current market consensus.

---

Landore Resources Shares Fall on Discounted Share Placing

Shares of Landore Resources fell 14% on Thursday after the company said it has raised 600,000 pounds ($758,160) via a discounted share placing and will use the money toward a planned dual listing on the TSX Venture Exchange later this year.

---

R&Q Insurance Holdings 2022 Pretax Loss Widened

R&Q Insurance Holdings on Thursday said its pretax loss for 2022 widened as it progresses on the separation of its two businesses.

---

Symphony Environmental Shares Rise on Better Performance, Profitability Expectations

Shares in Symphony Environmental Technologies rose Thursday after the company said its financial performance so far this year has sharply improved from 2022, and that it expects to move back into profitability in the coming months.

---

Tandem Shares Fall on 1H Sales Decline; Full-Year Seen Meeting Market Views

Tandem Group shares fell Thursday after it said it has experienced a 26% decline in sales over the first half of 2023, though it said it continues to expect to meet full-year market expectations.

---

Verditek Shares Fell as 2022 Pretax Loss Widened Despite Revenue Rise

Verditek shares fell Thursday after it said its 2022 pretax loss widened on higher costs and the conversion of pipeline projects was lower than expected, though revenue rose.

---

Civitas Social Housing FY 2023 Profit Fell on Expenses, Property Value Changes

Civitas Social Housing said Thursday that its fiscal 2023 pretax profit fell on increased finance expenses and a change in the fair value of its investment properties, though rental income rose.

---

Ingenta Shares Rise on New Contract Wins

Shares of Ingenta rose 11% on Thursday after the company said that it has won two contracts worth a combined 2 million pounds ($2.5 million), securing a significant portion of its new sales targets for this year.

---

i3 Energy Shares Fall After 2023 Capital, Dividend Program Cut

i3 Energy shares fell on Thursday after the company cut back its capital and dividend program for 2023, given current commodity prices and the need to protect the value of its assets and have flexibility to ramp up operations if prices improve.

---

Baltic Classifieds FY 2023 Pretax Profit Rose as Costs Fell; Strong Start to FY 2024

Baltic Classifieds Group said that pretax profit rose for fiscal 2023 after booking lower costs, and that it had a strong start to fiscal 2024.

---

Falanx Cyber Security Sees Higher 2023 Revenue; Shares Rise

Falanx Cyber Security shares rose Thursday after the company said it expects to report a rise in revenue for 2023, and that its financial performance in the next few months is expected to improve.

---

Serica Energy Says Production to Date Strong; Backs 2023 Guidance

Serica Energy said Thursday that 2023-to-date group production was strong and backed its full-year production guidance.

---

Fiinu CFO Philip Tansey Resigns; Charles Resnick Named as Interim Replacement

Fiinu on Thursday said that Philip Tansey resigned from his role as chief financial officer and will leave the group with immediate effect.

---

Anpario Sees Performance Improving in 2023 on Cost Cutting Actions

Anpario on Thursday reiterated that it expects group performance to improve over 2023 as the benefits of its cost reduction actions start coming through in the second half of the year and into 2024.

---

HEIQ Has Restructured Business Into 3 Units, Cut Costs Over Recent Months

HEIQ said Thursday that over the past few months the board has restructured the business into three units with strong leadership to drive focus and accountability, and reduced costs.

---

WANdisco 2022 Pretax Loss Narrowed, Plans to Raise $30 Mln for Share Relisting

WANdisco said Thursday that its 2022 pretax loss narrowed as revenue grew due to more deals being closed, and that it plans a $30 million equity fundraise via an accelerated bookbuild process.

---

Morgan Advanced Materials 1H Sales Seen 2% Higher; Backs FY Guidance

Morgan Advanced Materials said Thursday that sales for the first half of this year are expected to be 2% higher on an organic constant-currency basis compared with the same period a year earlier, and backed its full-year guidance.

---

Hummingbird Resources Liberia Mine on Track to Meet Guidance; 1Q Gold Production Rose

Hummingbird Resources said Thursday that its Yanfolila gold mine in Liberia is on track to meet 2023 guidance, while the Kouroussa gold mine in Guinea is now in production and expected to meet nameplate production in the second half.

---

Light Science Technologies Expects to Meet Its Views For FY 2023 After In-Line 1H

Light Science Technologies Holdings on Thursday said cost savings in the second half of 2023 will help it meet its full-year expectations for fiscal 2023 after its first-half performance was in line with views.

---

Ten Lifestyle Chairman Bruce Weatherill to Step Down Due to Ill Health

Ten Lifestyle Group said Thursday that Chairman Bruce Weatherill will step down from his role this fall due to ill health and will be replaced by Nonexecutive Director Jules Pancholi.

---

Revolution Beauty's CEO, Nonexecutive Chair Acquire Stake in the Group

Revolution Beauty Group said Thursday that both its chief executive officer and nonexecutive chair purchased shares in the company.

---

3i Group Says Investments Are Performing Well

3i Group on Thursday said its largest investment, non-food discounter Action, delivered strong sales in the year to date while the rest of its private equity portfolio traded well.

---

Pittards Agrees Debt Restructuring Terms Including GBP1.5 Mln Equity Raise

Pittards said Thursday that it had agreed terms to restructure existing debt facilities for its U.K. business, and that these were conditional on it completing a 1.5 million pounds ($1.9 million) equity fundraise.

---

(MORE TO FOLLOW) Dow Jones Newswires

06-29-23 1202ET