St. James's Place Is Top Pick Among UK Asset, Wealth Managers, Numis Says

1145 GMT - St. James's Place remains Numis' top pick among U.K. asset and wealth managers as it is one of the strongest and most consistent asset gatherers, the British brokerage says in a note updating its key ideas and marking to market in the second quarter. Numis is also positive on Intermediate Capital Group for its long-term growth, noting it will pay to wait through the progressive dividend while better market conditions return, and on Foresight, whose growth has been largely overlooked. "We have upgraded Ashmore from Sell to Hold, following share price weakness and broadly unchanged fundamentals," analyst David McCann writes. Numis would avoid Ashmore, hold-rated Liontrust and Quilter, reduce-rated Ninety One and Schroders as well as Bridgepoint, whose rating is under review. (elena.vardon@wsj.com)

COMPANIES NEWS:

Cineworld Eyes Cinepolis Americas President as Potential CEO, Sky News Reports

--Cineworld sees Eduardo Acuna, Americas president of Mexico's Cinepolis, as a chief executive candidate after it emerges from bankruptcy proceedings, Sky News says.

---

Cairn Homes to Pay Higher 1H Dividend; Backs Full-year Outlook for Growth

Cairn Homes said Tuesday that it plans to pay an increased first-half dividend, and said it was on-course for another year of growth across all key metrics.

---

Sainsbury's Backs FY 2024 Guidance After 1Q Sales Rose

J Sainsbury on Tuesday said its like-for-like sales rose in the first quarter of fiscal 2024, driven by growth in its groceries volumes as it kept prices low on popular products.

---

Trakm8's FY 2023 Pretax Loss Widened on Higher Costs

Trakm8 Holdings said Tuesday that its pretax loss for fiscal 2023 widened on higher costs, while revenue picked up the pace in the second half of the year.

---

Distil FY 2023 Pretax Loss Widened on Lower Sales After Changes in Business Model

Distil said Tuesday that its pretax loss widened for fiscal 2023 as revenue fell due to a decrease in sales following a remodeling, and that it entered fiscal 2024 aware of the economic uncertainty and how it affects consumer spending habits.

---

Eurowag Buys Further 18% Stake in JITpay for EUR25.7 Mln

W.A.G Payment Solutions said Tuesday that it has acquired an additional 18.01% stake in JITpay(TM) GmbH for 25.7 million euros ($28 million) after exercising a call option.

---

Restore Lowers 2023 Profit Target on Weak Demand; CEO Steps Down

Restore said Tuesday that it has lowered it adjusted pretax profit expectation for the full year due to continued weak demand in its technology unit, and that its chief executive officer will step down with immediate effect.

---

Kooth Raises Funds via Premium Share Placing; Lifts Guidance on New California Contract

Kooth said Tuesday that it is planning to raise 10 million pounds ($12.7 million) via a premium share placing and use the money to accelerate platform development and invest in U.S. growth, as part of its international expansion strategy.

---

Guild eSports to Make Competitive Simulated Racing Debut; Sees Revenue Opportunities

Guild eSports said Tuesday that it has entered into the 2023 season of the British F4 e-sports championship, its first entry into competitive simulated racing.

---

Boku Sees 1H Revenue, Earnings Rising; 2023 Results Ahead of Management Views

Boku Inc. said Tuesday that it expects first-half revenue and earnings to be significantly higher on growth in new payment methods, and its forecast full-year results ahead of management expectations.

---

Strix Sees 2023 Profit After Tax In Line With Views After Improved 2Q Performance

Strix Group said Tuesday that its profit after tax for the full year remains in line with market expectations after an improved performance in the second quarter.

---

Versarien Says Timing and Proceeds From Any Asset Sale Is Uncertain

Versarien said Tuesday that the timing of any asset sales and the amount of funds which may be received is uncertain despite a number of interested parties.

---

Coats Group Agrees to European Zips Business Sale for Around $1 Mln Cash

Coats Group said Tuesday it has agreed to the sale of its European Zips business for around $1 million cash to German private equity investor Aequita.

---

Science in Sport Publishes 2022 Accounts; Trading Restored

Science in Sport said Tuesday that it has published its accounts for last year and that trading in its shares has been restored.

---

ScS Group Taps Mark Fleetwood as CFO

ScS Group said Tuesday that it has appointed Mark Fleetwood as chief financial officer with effect from Sept. 4.

---

Boku CEO Jon Prideaux to Retire, Stuart Neal Named as Replacement

Boku said Tuesday that Chief Executive Jon Prideaux will retire on Dec. 31 and be replaced by Stuart Neal who is rejoining the board.

---

Augmentum FY 2023 Pretax Profit Fell on Lower Investment Gains

Augmentum Fintech on Tuesday posted a drop in its pretax profit for fiscal 2023 due to significantly lower gains on investments.

---

Mincon Names Tom Purcell as New COO With Immediate Effect

Mincon Group said Tuesday that it has appointed Tom Purcell as its new chief operations officer with immediate effect.

---

Aptamer Group Shares Fall on Going Concern Warning

Shares in Aptamer Group fell Tuesday after the company warned that it will require further funding in the short term to continue as a going concern.

---

Mercia Asset Management FY 2023 Pretax Profit Fell On Investment Losses

Mercia Asset Management on Tuesday said its pretax profit for fiscal 2023 dropped despite a rise in revenue as it booked heavier administrative expenses as well as losses and lower fair value movements on its investments.

---

Naked Wines Shares Fall as 1Q Sales Missed Views

Naked Wines shares fell Tuesday after the company said sales in the first quarter of fiscal 2024 have been below its expectations, and that it will delay the publication of fiscal 2023 results.

---

Sainsbury's to Focus on Lowering Prices Strategy Despite Low Margins

J Sainsbury said in an investors call on Tuesday that it is being able to reduce prices ahead of its competition thanks to lower input prices, but that inflation is easing but it is expected to be persistent.

---

Haleon Mulls Sale of Nicotinell Brand, Bloomberg Reports

--Haleon is looking to sell its Nicotinell brand of nicotine gum, patches and lozenges, Bloomberg reports citing sources.

---

CoinShares CEO: London must fix crypto-tradfi divide to catch up with New York -- Financial News

Jean-Marie Mognetti: 'These two sectors often seem to operate in separate silos and rarely communicate effectively with each other'

---

Mode Global Holdings 2022 Pretax Loss Narrowed; In Funding Talks for Future Investment Ventures

Mode Global Holdings on Tuesday said its pretax loss narrowed in 2022 as its costs decreased and that it is in talks to raise funds to enable it to invest in future ventures.

---

RBC Capital Markets adds trio of bankers for European DCM team -- Financial News

Bank bolsters London and German team in debt capital markets push

---

CCL Industries Buys Oomph Made for C$7.1 Million

CCL Industries said Tuesday it has bought Oomph Made, a privately-owned designer and supplier of radio frequency identification and near-field communication access cards and wristbands, for about 7.1 million Canadian dollars ($5.4 million).

MARKET TALK:

Centrica Should Post Strong Earnings, Cash Flow at Interim Results

1231 GMT - Centrica is expected to report strong earnings and cash flow, as well as provide updates on capital allocation priorities at interim results on July 27, JPMorgan analyst Pavan Mahbubani writes in a research note. Centrica, the U.K. energy company that owns British Gas, will have more than 40% of its current market cap in net cash by the end of 2024 even after having bought back GBP550 million worth of shares by end-2023 and paying GBP380 million in dividends between today and end-2024. "Clarity on allocation of this capital will be welcomed by the market, we believe, driving further share price outperformance," Mahbubani says. Centrica is JPM's sector top-pick along Drax and rates the stock overweight. (christian.moess@wsj.com)

---

Drax Shares Are Trading at a Discount Given Continued Government Support

1226 GMT - Drax should see investors turn more positive on its outlook once the U.K. government publishes it biomass strategy, which is expected to set out how bioenergy with carbon capture storage could be deployed in the U.K, JPMorgan analyst Pavan Mahbubani writes in a research note. Shares in the U.K. power-generation company continue to trade at a discount despite a clear message from the government that Drax' power station will be supported beyond expiry of subsidy in March 2027, the analyst says. Additionally, the company could likely launch another buyback at interim results on July 27, as the one announced in April could complete by July, he says. Drax is JPM's sector top-pick along Centrica and rates the stock overweight. (christian.moess@wsj.com)

---

Augmentum Shares Look Cheap Compared With Peers

1055 GMT - Augmentum Fintech's results make its shares look cheap, Peel Hunt analysts say in a note after the venture-capitalist investor posted higher net asset value per share after performance fees for fiscal 2023. While the market has been quick to derate private-equity strategies, the venture-capitalist investor's share price seems "out of touch" with the results being delivered, the analysts write, noting that Augmentum trades at a higher discount to year-end net asset value compared with peers. They add that listed equity markets have started to recover since the start of 2023. Peel Hunt rates the stock outperform. (elena.vardon@wsj.com)

---

Haleon's Potential Nicotinell Sale Could Be Part of Streamlining Process

(MORE TO FOLLOW) Dow Jones Newswires

07-04-23 0851ET