FTSE goes up, Stagecoach shares Motor Ahead on takeover

Stagecoach shares Motor Ahead on Takeover Talk News

Stagecoach Group shares jumped 21.8% after the Scotland-based bus company said it was in talks about a takeover of all shares by rival National Express Group. Competition authorities might have something to say about the tie-up of the two public transport operators, but otherwise the deal seems reasonable enough, Bell said. “A key factor to consider is whether anyone else might want to own Stagecoach, such as an overseas transport operator. It is no easy task to carve out an important place in the UK public transport market and Stagecoach now has 8,400 buses and coaches. Bell’s chief investment officer Russ Mold said. National Express shares gained 8.2%.

Companies News:

Oxford Instruments had five months strong, but the pound hurt

Oxford Instruments PLC said on Tuesday that order and revenue growth had been strong in the first five months of fiscal 2022, but the strength of the pound had hurt both revenue and operating profit .

Reduction of the loss before tax SIG 1H; The effect of equipment shortages will be greater in 2 hours

SIG PLC said on Tuesday that its pre-tax loss for the first half of the year had narrowed as revenues increased and that it expects the effect of material shortages to be greater than in the first half and continues for an extended period.

Learning Technologies Post Higher Pre-Tax Profit Over 1H; Approves the interim dividend

Learning Technologies Group PLC said Tuesday that pre-tax profit increased in the first half of the year, and it approved an interim dividend.

Manolete Partners Says Performance To Date Is In Line With Management Expectations

Manolete Partners PLC said on Tuesday that its performance to date has been in line with management’s expectations despite the effect of the Corporate Insolvency and Governance Act 2020, known as the “temporary measures”, which has resulted in lower bankruptcies of companies.

Kingfisher 1H Adjusted Pre-Tax Profit Increases, Beating Market Views – Update

Kingfisher PLC on Tuesday announced a higher than expected increase in adjusted pre-tax profit for the first half of fiscal 2022, driven by strong home improvement demand, and said its outlook for the full year had improved.

Real Good Food Mulls Radiation to Reduce Costs; Stocks fall

Shares of Real Good Food PLC fell on Tuesday after the company said it was considering pulling out of AIM London to cut costs.

Nexus Infrastructure Says eSmart Networks Will Be Operationally Profitable in 2021

Nexus Infrastructure PLC said on Tuesday that its eSmart Networks vehicle charging business is expected to be operationally profitable in 2021.

Cambridge Cognition achieved 1H pre-tax profit; Board confident in the outlook for 2021

Cambridge Cognition Holdings PLC said on Tuesday it had moved to pre-tax profit for the first half of the year due to the increase in revenue, and that the board was confident in the outlook for the year as its performance were still in line with market expectations.

Workspace Group sells London site for £ 92million

Workspace Group PLC said on Tuesday it had traded contracts to sell a site in London for 92 million pounds ($ 125.7 million) and that it would use the money for new projects and acquisitions.

Reduction of the pre-tax loss of Kooth 1H, annual turnover in line with market views

Kooth PLC on Tuesday announced a reduced pre-tax loss for the first half of the year thanks to increased revenue, and said the board expects revenue for the full year to be in line with expectations.

Caspian Sunrise views dividends against a backdrop of positive oil outlook – Commodity Commentary

Caspian Sunrise PLC announced on Tuesday that it would ask its shareholders to approve the capital reduction necessary for the payment of the first dividends, its half-year results having been boosted by the recovery in oil prices. Here’s what the Kazakhstan-focused energy company had to say:

Mediclinic International refinances the debt of the Southern Africa division with a new facility

Mediclinic International PLC announced on Tuesday that it had secured a five-year R8.45 billion ($ 571.4 million) facility to replace existing debt in its Southern Africa division, which is in line with its financial strategy and business plan. responsible leverage approach.

ASA International achieved pre-tax profit in 1 hour

ASA International Group PLC said on Tuesday that it recorded a profit before tax in the first half of the year and that its collection efficiency increased or remained broadly stable as of August 31 compared to the previous month in all countries.

AfriTin secures $ 6 million loan to expand processing plant in Namibia

AfriTin Mining Ltd. announced on Tuesday that it had accepted the terms of a N $ 90 million (US $ 6.1 million) term loan with Standard Bank Namibia Ltd. to finance the expansion of its tin processing plant in Uis.

Litigation Capital Management FY 2021 Profit Rose

Litigation Capital Management Ltd. said on Tuesday that its profits had increased in fiscal 2021, but that it would not pay a dividend to preserve its cash flow.

Fintel 1H pre-tax profit increased and confirms revenue increase

Fintel PLC said on Tuesday that pre-tax profit increased in the first half of the year and confirmed higher revenues for the period.

Mattioli Woods pre-tax profit fell

Mattioli Woods PLC on Tuesday announced a significant drop in its pre-tax profit for fiscal 2021 after recording high acquisition costs.

Alliance Pharma 1H Profit Before Tax Rose

Alliance Pharma PLC on Tuesday reported a jump in its pre-tax profit and higher revenues for the first half of the year, and said its expectations for the rest of the year remained in line with market views.

Market Talk:

UK to cut stimulus despite improving public finances

07:48 GMT – The UK government is likely to cut fiscal stimulus in the fall, despite official data showing public finances have improved, according to Capital Economics. “August’s public finance figures provided further evidence that the government’s financial position is not as bad as the Office for Budget Responsibility (OBR) predicted in March,” the UK economist said Ruth Gregory. The £ 20.5bn of net public sector borrowing (excluding bank groups) in August was again lower than the OBR forecast of £ 21.6bn, although it was higher than forecast in a WSJ pool of £ 14.0 billion. The UK treasury chief is expected to signal the end of the pandemic-era stimulus measures in his budget on October 27, when he presents the government’s budget plans.

Sale of Permian assets could lead Shell to increase buybacks in 2022

0703 GMT – Shell has committed $ 7 billion of the proceeds from the sale of its Permian Basin assets to additional distributions to shareholders and, given the current share price, RBC Capital Markets expects the tendency to buy back shares. As a result, the bank’s 2022 buyout estimate of $ 6 billion could easily double, he says. The company did not say whether the distributions would be through a special dividend or an additional buyback. Nonetheless, RBC expects the announcement to be positively received by the market and to support equities in the short term. RBC has an outperformance rating compared to the Anglo-Dutch energy giant.

Compass Group could swing out after pandemic

0703 GMT – Contract caterer Compass Group could have suffered from the closure of its offices by its customers and their canteens, but it now appears poised to emerge from the pandemic, said Daniel Lane of Freetrade. Compass’s spending cuts have kept it from taking on heavy debt, but since companies will still be running a hybrid workforce for a while, that means they’ll only need half of it. of the service they previously paid for. getting back to its 7% margin target remains, Lane says. “It will take a steady hand to maintain this balance between efficiency and new business to get companies to begin to realize that they have to be as lean as their subcontractors,” Lane said.

Shell’s Permian sale to appeal to investors

0656 GMT – The market will appreciate Shell’s sale of its Permian Basin assets, given the relatively attractive price and higher than expected allocation of the product to additional shareholder returns, which should support equities in the short term, RBC Capital Markets said. The company is selling 5% of its 2021 production estimate, or 4% of its asset base, for 6% of its market capitalization, estimates RBC. “We have long believed that Shell had a sub-scale position in the Permian relative to its US peers, and given its poor track record in the asset class, it would make sense to sell to another operator,” he said. said the Canadian bank. said.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

(END) Dow Jones Newswires

September 21, 2021 05:24 ET (09:24 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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