London shares its gains as miners and builders increase; Fall of banks



The FTSE 100 wins as miners and builders increase; Fall of banks

The FTSE 100 index rose 0.2%, or 12 points to 7137, as gains in miners and construction stocks offset losses at banks. Anglo American, Glencore, and Antofagasta are all higher as the prices of precious metals and some base metals rise. Informa leads the hikes, up 2.5% after brokerage firm Berenberg upgraded the shares of the corporate publisher and conference organizer to buy reserve. Homebuilders Barratt Developments, Persimmon, Taylor Wimpey and Berkeley Group Holdings move forward after a bullish note on the Jefferies sector. At the other end of the scale, banks HSBC Holdings, Standard Chartered, Lloyds Banking Group and NatWest are among the losers.

 
Companies News: 

QinetiQ CFO David Smith Retires; Carol Borg appointed replacement

QinetiQ Group PLC announced Friday that CFO David Smith will retire on November 30, to be replaced by Carol Borg on December 1.

Gym Group raises £ 31.2million through share placement

Gym Group PLC said on Friday it had raised 31.2 million pounds ($ 42.9 million) through the stock offering first announced Thursday night.

All active capital is raising £ 150million; Will cancel AIM trading

All Active Asset Capital Ltd. said on Friday it had raised 150 million pounds ($ 206.4 million) of total proceeds through placements, agreed to acquire a controlling stake in Sentiance NV and offered to cancel its shares from trading.

New loans in the first half of Distribution Finance increased considerably

Distribution Finance Capital Holdings PLC said on Friday that its second quarter performance was strong, but that it expects growth to normalize in the second half.

Kazatomprom plans to extend 20% production reduction until 2023

NAC Kazatomprom JSC said on Friday that it plans to keep 2023 production at a level similar to 2022, extending a 20% production cut.

GYG deadline for Harwood Capital offer extended again

GYG PLC said on Friday that the UK Takeover Panel had extended until July 23 the deadline for its second shareholder Harwood Capital to give its firm intention to make an offer or withdraw.

CMOStores.com raises £ 27.3million on London IPO

CMOStores.com Ltd. said on Friday it was raising £ 27.3million ($ 37.6million) as part of its IPO on London junior AIM.

LungLife AI raises £ 17million on London IPO

LungLife AI said on Friday it had raised £ 17million ($ 23.4million) as part of its IPO on London junior AIM.

Grit signs $ 25 million loan agreement to finance the acquisition of a site in Kenya

Grit Real Estate Income Group Ltd. on Friday announced that it has entered into a $ 25 million loan agreement with the International Finance Corporation to acquire and redevelop a warehousing and manufacturing facility in Nairobi, Kenya.

I3 Energy 2T Increase in production; Complete the first well in Marten Hills

i3 Energy PLC said on Friday that production increased in the second quarter and that it had completed drilling its first well at Marten Hills in Canada.

Oilex Appoints Colin Judd as Chief Financial Officer

Oilex Ltd. announced on Friday that it had appointed Colin Judd as chief financial officer, with effect from Thursday, and intended to appoint him as a director in due course.

Chesterfield Resources shares fall on discounted stock placement

Shares of Chesterfield Resources PLC fell 9.5% on Friday after the company said it raised 800,000 pounds ($ 1.1 million) through the stock offering first announced Thursday night, slightly more than planned.

 
Market Talk: 

Crest Nicholson’s Confidence Leads to Improvements

0828 GMT – CEO and CFO of home builder Crest Nicholson gave a confident performance during a business briefing, and after his first-half earnings forecast improved to reflect the new directions, Jefferies said. The bank raised its pre-tax profit forecast for FY2022 from Crest by 7.8% to meet management’s guidance to around £ 125.4million. That said, the estimated 2023 earnings before interest and tax margin is still below Crest’s long-term ambitions given the overhead costs for historic sites and new land, although it remains an advantage linked to the gap between prices and costs, according to the bank. Jefferies maintains its buy rating and raises its price target to 519 pence from 510 pence. Shares are up 1.4% to 443.4 pence.

UK economic recovery could lose momentum

0720 GMT – With the exception of the composite PMI compiled by IHS Markit, the most current indicators point to the UK economic recovery slowing sharply in June, according to economists at Pantheon Macroeconomics. The Business Impact of Covid-19 survey, conducted by the Office for National Statistics, and the Clearing House Automated Payment System, which is compiled by the Bank of England and tracks card spending, paint a less optimistic picture. Data from OpenTable, which tracks bookings in the hospitality industry, is also consistent with a slowdown in household spending after the initial jump in May. “We stand by our estimate that month-over-month GDP growth slowed to around 0.5% in June, from 1.5% in May,” Pantheon said.

 

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

(END) Dow Jones Newswires

July 02, 2021 04:49 ET (08:49 GMT)

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



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