The FTSE 100 Index closed Tuesday up 0.3% to 7594 points, amid increased optimism in the global markets after a positive reading of the U.S. inflation data, CMC Markets UK chief market analyst Michael Hewson says in a note. "The latest U.S. inflation numbers for May came in at a two-year low, and speculation about further Chinese stimulus measures boosted sentiment," Hewson says. Miners outperformed the index as copper prices reached one-month highs with Glencore, Antofagasta and Anglo American shares closing up 5.3%, 3.5% and 2.75%, respectively, after China cut its key rate in a sign that more policy easing may be on the way, Hewson adds. Shell and BP and shares closed up 0.8% and 0.5%, pushed by a rebound in oil and gas prices


COMPANIES NEWS:

Schroders Wealth Management Assets Under Management Grew to GBP115.6 Bln at April 30

Schroders said Tuesday that its wealth-management business continues to grow, with assets under management at April 30 of 115.6 billion pounds ($144.7 billion), and supported by net new business of GBP2.9 billion.

---

Centrica Sees 2023 Earnings at Top End of Analysts' Views

Centrica said Tuesday that its performance in the first five months of the year has been strong overall, and that it expects adjusted earnings per share to be around the top end of market expectations.

---

Ashtead 4Q Pretax Profit Rose on Increased Rental Revenue

Ashtead Group said Tuesday that pretax profit for the fourth quarter of fiscal 2023 rose on increased rental revenue, and that the board looked to the future with confidence.

---

Bellway Sales Demand Recovered Somewhat Over Spring; Backs FY 2023 Guidance

Bellway said Tuesday that it has seen a sustained recovery in sales demand over the spring selling season when compared to the fourth quarter of 2022, and it backed its guidance.

---

Trinity Exploration & Production Updates Guidance for 2023

Trinity Exploration & Production said Tuesday that it has updated its guidance for 2023, with a sales guidance at the midpoint matching the prior-year's sales.

---

Vertu Motors Launches Additional Share Buyback Program of Up to GBP3 Mln

Vertu Motors said Tuesday that it was launching a further buyback program of up to 3 million pounds ($3.8 million) in addition to the GBP3 million program announced in May.

---

CMC Markets FY 2023 Pretax Profit Fell on Lower Trading Activity

CMC Markets said Tuesday that pretax profit fell for fiscal 2023 due to lower client trading activity and higher costs.

---

Mind Gym Swung to FY 2023 Profit; Sees Further Growth Ahead

Mind Gym said Tuesday that it swung to a pretax profit in fiscal 2023 on gearing, saving and investment returns, and it sees further growth in coming years.

---

Tatton Asset Management FY 2023 Pretax Profit, Assets Rose

Tatton Asset Management on Tuesday posted a rise in pretax profit for fiscal 2023 as it saw growth in demand for its model portfolio services and its assets under management increased.

---

Dillistone Sees 1H Revenue, Operating Profit Ahead of the Year-Prior Period

Dillistone Group said Tuesday it expects revenue and operating profit for the first half of 2023 to be ahead of that reported in the prior-year period, and that adjusted profit for the year will be in line with management's expectations.

---

Oxford Instruments FY 2023 Pretax Profit Rose on Strong 2H

Oxford Instruments on Tuesday posted a rise in pretax profit in fiscal 2023 as price increases took effect and supply-chain issues eased.

---

Vianet Swung to FY 2023 Profit; Reinstates Dividend Payments

Vianet said Tuesday that it swung to a pretax profit for fiscal 2023 and reinstated dividends after recovering strongly to perform in line with prepandemic levels.

---

Alantra shifts investment bank HQ from Spain to London in post-Brexit boost for City -- Financial News

Around 180 bankers will be based in Alantra's new City hub in a major shift for the Spanish lender

---

Yourgene Health Sells Taiwanese Subsidiary for $4 Mln

Yourgene Health said Tuesday that it has sold it Taiwanese subsidiary Yourgene Health Taiwan to Singapore-based INEX Innovate for up to $4 million.

---

Orea Mining Terminates Deal to Buy Additional Stake in Montagne d'Or Project

Orea Mining, which has raised doubts about its solvency, dropped plans to buy the outstanding stake in a French gold project following the Canadian government's rejection of the deal.

---

Plus500 Buys Back GBP101.3 Mln in Shares From Odey Asset Management

Plus500 on Tuesday said it had bought back 101.3 million pounds ($126.8 million) of its shares from Odey Asset Management.


MARKET TALK:

Glencore's Viterra Deal Is Value Unlock Investors Were Hoping For, Citi Says

1240 GMT - Glencore's stake sale of its agriculture trader Viterra marks another step toward portfolio optimization, Citi analysts write in a research note. The Anglo-Swiss commodity miner's stake in the cash-and-stock transaction, which will merge Viterra with U.S. rival Bunge, is valued at $4.1 billion, comprising $3.1 billion worth of Bunge shares and $1 billion in cash. "Viterra transaction is one of the major steps toward the portfolio simplification and value unlock investors were hoping for," the analysts say. However, implied valuations optically look lower than market expectations, they add. Citi's rating on Glencore is suspended due to the merger. Shares are up 3.9% at 453.90 pence. (christian.moess@wsj.com)

---

More Investors Expect Lower Global Inflation in Coming 12 Months, BofA Survey Finds

1158 GMT - The proportion of investors expecting lower global inflation in the next 12 months rose to a net 87% in June from a net 84% in May, Bank of America's latest global fund manager survey shows. "Expectations for lower global CPI continue to hover around the Dec'22 record high of 90%," BofA says. Nonetheless, the survey shows that high inflation remains a major concern for investors. The risk of high inflation resulting in more central bank rate rises is currently considered as the biggest tail risk event, according to the survey. (miriam.mukuru@wsj.com)

---

Ashtead Could Benefit by Hiving off UK Business

1111 GMT - Ashtead Group could boost its fortunes by offloading its U.K. business, AJ Bell says after the plant-hire company reported higher annual revenue and earnings. The record numbers show Ashtead's business strategy works and that it is benefiting from significant U.S. infrastructure spending, AJ Bell says. "However, if one were to pick holes in its results, it would probably be declining U.K. and Canada profit margins," AJ Bell's investment director Russ Mould writes. "Investors are also nervous about a potential demand dip should the U.S. enter recession, hence why the share price has been volatile this year. At some point, Ashtead might decide to offload its U.K. arm as it remains the weak spot. Canada, on the other hand, is more encouraging." Shares drop 0.6%. (philip.waller@wsj.com)

---

Tatton Asset Management's Earnings Show Resilience

1008 GMT - Tatton Asset Management's double-digit growth in fiscal 2023 showed its reliability despite volatility, says RBC Capital Markets in a note after the group posted strong earnings despite declining investor sentiment and the drag of negative market performance. The company was able to capitalize on its leading position in a high-growth market, it says. "We see this earnings resilience as a reflection of both: 1) the group's favorable market positioning; and 2) continued strong execution," analyst Ben Bathurst and associate Rafael Castillo write. RBC raises its target price on the outperform-rated stock to 575 pence from 550 pence. Shares rise 2.3% to 465 pence. (elena.vardon@wsj.com)

---

Tatton's Market-Share Momentum Set to Continue

0958 GMT - Tatton Asset Management's fiscal 2023 results provided further optimism, finnCap says in a note after the company posted a rise in revenue and earnings on growth in demand for its model portfolio services. The asset manager was the first to push MPS and are being rewarded for their specialism and track record, the brokerage says. "Tatton's value proposition is compelling, and ultimately, the opportunity here is not just to maintain their share of a market that is set to double over the next 4-years, but to push for more," finnCap research director Stephen Barrett writes. Shares are up 2.3% at 465 pence. (elena.vardon@wsj.com)

---

Centrica In Strong Position Thanks to Retail, Regulations, Energy Assets

0950 GMT - Centrica has been spared much pain during the energy crisis, putting the U.K. company in an enviable position, AJ Bell investment director Russ Mould says in a market comment. The energy company, which owns British Gas, is doing little to endear itself to the U.K. hard-pressed households, even if shareholders will be pleased as it guides for profit at the top end of expectations, Mould says. Its strong performance in the retail business benefits from regulatory changes, allowing it to reclaim losses from selling at capped prices, while the performance of its energy-producing assets has made up for easing gas and electricity prices this year, he says. "The question now is whether political and regulatory pressure will intervene to upset the apple cart." (christian.moess@wsj.com)

---

UK Wage Growth Is Causing Problems, AJ Bell Says

(MORE TO FOLLOW) Dow Jones Newswires

06-13-23 1206ET