The FTSE 100 closed down 0.8% Monday as investors showed caution before the Bank of England and the U.S. Federal reserve issue rate decisions later in the week. "Risk appetite evaporated as investors came to terms with the real possibility of higher rates for longer after a busy week of economic releases," interactive investor analyst Richard Hunter said in a note. RS Group was the session's biggest faller, down 4.3%, followed by Airtel Africa and Entain, down 3.6% and 3.4% respectively. Mondi was the day's highest riser, followed by Ocado and Hikma Pharmaceuticals, up 3.25%, 3.1% and 1.8% respectively.


COMPANIES NEWS:

S4 Capital Lowers Full-Year Expectations Despite Narrowed 1H Operating Loss

S4 Capital reported a significantly narrowed operating loss primarily due to lower combination related expenses, but lowered its full-year expectations after slow summer trading.

---

Mondi Agrees to Sell Mondi Syktyvkar to Sezar Invest for RUB80 Bln

Mondi said it has entered an agreement to sell Mondi Syktyvkar, the company's last Russian facility, to Sezar Invest for a total consideration of 80 billion Russian rubles ($826.4 million).

---

Frasers Group in Talks to Sell Missguided to Shein, Sky News Reports

Frasers Group boss Mike Ashley is in talks to sell online clothing label Missguided to Singapore-headquarted online fashion retailer Shein, Sky News reports.

---

UBS Mulls Return to AT1 Sales In Wake of Credit Suisse deal

Bondholders were furious after absorbing billions in losses, but UBS will reportedly offer better terms for AT1s going forward

---

Orcadian Energy Agrees to Initial Farm-Out Deal of North Sea Oil Field Development

Orcadian Energy said it has agreed to a non-binding heads of terms with an unnamed North Sea operator regarding a potential farm-out of its pilot development project in the Central North Sea.

---

Pendragon to Sell UK Motor and Leasing Business for $310 Mln to Lithia

Pendragon said it will sell its entire U.K. motor business and leasing business to Lithia Motors for 250 million pounds ($309.6 million), change its name to Pinewood Technologies PLC and embark on a strategic partnership with Lithia.

---

Thor Energy Halts Trading on ASX Ahead of Capital Raising; AIM Trading Continues

Thor Energy said Monday that trading of its shares on the Australian Securities Exchange has been suspended while the company plans a capital raising to accelerate its exploration activities.

---

ECR Minerals Plans GBP580,000 Fund Raising via Discounted Share Subscription

ECR Minerals plans to raise 580,000 pounds ($718,214) via a share subscription, which will be used to advance the company's existing assets, for potential new opportunities and working-capital purposes.

---

Christie Group Swung to Loss on Transaction Delays, Higher Costs

Christie Group swung to a pretax loss for the first half of 2023 on transaction delays by its agency and advisory business and higher costs, it said on Monday.

---

Artisanal Spirits Backs Full-Year Views for Earnings Rise Despite 1H Loss Widening

Artisanal Spirits Co. said its pretax loss widened despite a slight increase in revenue, but that it remains confident in meeting full-year market expectations for higher earnings.

---

Vast Resources Shares Drop on Lack of Progress in Diamond Parcel Lawsuit

Shares in Vast Resources fell 24% after the company said that it hasn't been able to progress the settlement relating to the release of diamonds held in custody at the Reserve Bank of Zimbabwe as it had expected, due to recent elections in the country.

---

GCP Asset Backed Income Fund Ends Merger Talks With GCP Infrastructure

GCP Asset Backed Income Fund no longer plans to merge with GCP Infrastructure Investments after failing to get shareholder support.

---

Elixirr International Buys Responsum for Up to $6.4 Mln; 1H Profit Rose

Elixirr International said it has bought Responsum Inc. for a maximum consideration of $6.4 million in a cash and stock deal, and said its profit and revenue rose.

---

Hemogenyx Stock Rises on Premium Share Subscription

Hemogenyx Pharmaceuticals shares jumped on Monday after the company got an $830,000 investment from Prevail Partners through a share subscription at a considerable premium.

---

Bango Backs Full-Year Views Despite Widened 1H Loss on Integration Cost

Bango said its pretax loss widened on Docomo Digital integration costs, though revenue significantly rose and it still expects to meet market forecasts for the year.

---

Critical Metals Signs $3 Mln Debt Facility to Speed Up Mining Operations

Critical Metals said it has signed a $3 million debt facility from an unnamed international financial institution to accelerate mining operations, increase production and continue negotiations with possible copper ore buyers.

---

Afentra Shares Rise on Restoration of Listing

Shares in Afentra rose Monday after the oil-and-gas company was restored to trading in London, having been temporarily suspended in July pending the publication of an admission document related to offshore acquisitions in Angola.

---

TPXImpact Holdings Sells Questers to Nortal for GBP7.5 Mln

TPXImpact Holdings said it has sold Questers Resourcing and Questers Bulgaria to Nortal AS for a cash consideration of 7.5 million pounds ($9.3 million).

---

Iomart Group CEO Reece Donovan Steps Down, Succeeded by Lucy Dimes

Iomart Group said Monday that its Chief Executive Officer Reece Donovan is stepping down with immediate effect after three years in the role, and that he will be replaced by Executive Chair Lucy Dimes.

---

City of London Investment Group Pretax Profit Falls as Fees Drop, Costs Rise

City of London Investment Group posted a drop in pretax profit for fiscal 2023 on lower fees and higher costs.

---

Metals Exploration Chairman David Cather Resigns

Metals Exploration's Independent Chairman David Cather has resigned with immediate effect and at the insistence of the company's second largest shareholder Runruno Holdings, it said Monday.

---

Diversified Energy Finance Chief Eric Williams Resigns, COO Brad Gray Tapped

Diversified Energy Company said its Chief Financial Officer and Executive Vice President Eric Williams has resigned with immediate effect to pursue other professional opportunities.

---

S4 Capital Shares Slump After Lowering Full-Year Expectations

S4 Capital shares dropped after it lowered its full-year expectations on a slow summer performance and client caution, while it also reported a significantly narrowed operating loss primarily due to lower acquisition-related expenses.

---

Facilities By ADF's Pretax Profit Rose on Strong Demand, Acquisition

Facilities By ADF said its pretax profit more than doubled in the first half of the year on the back of rising revenue from strong demand and its Location One acquisition.

---

Dialight Shares Fall on Divestment Plans; Mulls Fundraise

Dialight shares fell after it said it will divest non-core assets and businesses as part of its transformation plan, and that it was exploring an equity fundraise so as to de-risk and accelerate the plan.

---

Plexus Holdings Shares Rise on Loan Agreement

Shares of Plexus Holdings rose as much as 17% on Monday after the company said it has agreed to 700,000 pounds ($866,810) worth of loans from Chief Executive Ben van Bilderbeek and his family, which will enable the company to capitalize on its growing pipeline of opportunities and potential orders.


MARKET TALK:

IDS Seen at Inflection Point Despite Still 'Cheap' Valuation

1305 GMT - Royal Mail-owner International Distribution Services seems to be at an inflection point on revenue and costs, JP Morgan says. Its potentially "cheap" valuation--which seems to apply zero value to the U.K. business--hasn't materially changed in months despite the recent union agreement, signals on regulation and an improving parcels market, analysts Samuel Bland and Harry Gowers write. The U.K.'s Office of Communications said this month that it will consider changing the operation of postal services. July was IDS' first month of market volume growth since April 2021, they add. "This provides an attractive entry point, and also provides some protection against any recovery in the U.K. business failing to materialize". JPM raises the stock to overweight from neutral and lifts its target price to 310 pence from 300 pence. Shares are up 2.3% at 263.1 pence.(elena.vardon@wsj.com)

---

SSP Seen Having a Significant Growth Runway

1212 GMT - Food-and-beverage company SSP Group's momentum is seen continuing into 2H as the bookings outlook remains resilient, Shore Capital analysts Greg Johnson and Clive Black say in a note. The company is expected to highlight the continued recovery in the global travel industry with Ebitda seen to grow to at least prepandemic levels for fiscal 2024, the analysts say. "We continue to see a significant growth runway for SSP, where we have previously set out the potential for EPS to reach 30 pence by the end of the decade, which we do not believe is yet to be reflected in the valuation," the analysts say. Shore Capital has SSP as a house stock. Shares are down 1.3% at 241.20 pence. (anthony.orunagoriainoff@dowjones.com)

---

Arm Holdings Still Facing Risks Over the Next Couple of Years

(MORE TO FOLLOW) Dow Jones Newswires

09-18-23 1235ET