European stocks advance on the water ahead of Jackson Hole
0943 GMT – European markets are treading water as traders await signals on the US economic outlook from the Jackson Hole Symposium later this week. The Stoxx Europe 600 and the CAC 40 are up 0.1%, the FTSE 100 is up 0.2% and the DAX is down 0.1%. Brent crude drops 0.3% to $ 70.83. The Dow Jones is expected to open slightly higher at 35,382. HSBC’s Willem Sels says of Jackson Hole: “The minutes from the last Fed meeting have already made it clear that most committee members believe the tapering should start before the end of the year. But given that there are still three meetings left this year, markets will be looking for no clue as to who fires the starting gun. “([email protected])
Just Eat to Create Over 1,500 New Jobs in the UK
Just Eat Takeaway.com NV said on Wednesday that it plans to create more than 1,500 new customer service jobs in the UK over the next year.
Augean accepts new £ 341.2million acquisition of Ancala, Fiera
Augean PLC announced on Wednesday that it had accepted a 341.2 million pounds ($ 468.4 million) takeover of Eleia Ltd., a new company created by investment funds managed by Ancala Partners LLP and Fiera Infrastructure. Inc.
Costain shows 1 hour profit and sees performance in line with views
Costain Group PLC said on Wednesday it made a profit in the first half of the year and is on track to deliver full year performance in line with expectations.
Avation sells Airbus A220-300
Avation PLC said on Wednesday it had sold an Airbus A220-300 for an undisclosed amount as part of the company’s plan to manage its portfolio and increase liquidity.
Grafton Group 1H profit increased sharply and sees supply chain disruptions
Grafton Group PLC said on Wednesday that pre-tax profit for the first half of 2021 rose sharply, but warned that supply chains are expected to be somewhat disrupted in the coming months.
Anglo Pacific CEO Julian Treger to leave in March 2022
Anglo Pacific Group PLC said on Wednesday that managing director Julian Treger intends to step down.
Panthera Resources signs $ 18 million farm-out agreement for Burkina Faso gold project
Panthera Resources PLC announced on Wednesday that it had secured an $ 18 million farm-out agreement on its Labola gold project in Burkina Faso with Diamond Fields Resources Inc.
Rank Group says UK tax administration decided not to appeal VAT ruling
Rank Group PLC said on Wednesday that the UK tax administration has decided not to appeal a first-level tax court ruling in favor of the company on a claim for a refund of VAT paid on slot machine income .
Next Fifteen sees fiscal 2022 results ahead of expectations
Next Fifteen Communications Group PLC said on Wednesday that its results for fiscal 2022 will be ahead of management expectations after a strong revenue performance in the second quarter, and that it plans to step up investment.
Anglo Pacific Says It Will Benefit From Hike In Coal Prices In 2H – Commodity Commentary
Anglo Pacific Group PLC on Wednesday reported profit for the first half of the year, reflecting lower revaluation costs, but said it would see a larger increase in higher coal prices in the second half of the year.
Citius Resources shares rise as they debut
Shares of Citius Resources PLC rose 19% at the start of trading on Wednesday as they began trading on the London Stock Exchange, implying a market cap of 2.1million pounds ($ 2.9million ).
Challenger Energy shares tumble after reporting technical issues at Trinidad well
Shares of Challenger Energy Group PLC fell Wednesday morning after reporting problems at its Saffron-2 onshore oil well in Trinidad.
Jaywing achieved pre-tax profit for fiscal 2021; No longer a business continuity risk
Jaywing PLC shares jumped 17% at the start of trading on Wednesday after the company reported a much smaller pre-tax loss for fiscal 2021 after recording lower costs and said it was no longer at risk of failing be able to continue operating.
Sopheon 1H Profit Before Tax, Turnover Rose
Sopheon PLC said on Wednesday that first half 2021 profit and pre-tax revenue increased and its strategy of migrating to a recurring revenue model led to improved core performance indicators.
Thor Mining shares rise after intercepting better-than-expected copper and gold grades in Australia
Thor Mining PLC shares rose on Wednesday after reporting interceptions of higher grade copper and gold at its Alford East project in southern Australia.
Boohoo should convince investors to improve ESG benchmarks
09:49 GMT – Boohoo Group’s stocks are valued below those of their online peers due to its uneven ESG track record, but the gap will narrow as investors feel more comfortable with its efforts to resolve ESG issues, according to Deutsche Bank. The British online fashion retailer has one of the highest sales growth rates among European clothing companies, but ESG concerns will likely generate a pullback, according to Deutsche. Boohoo has been relatively behind in adopting sustainable materials and was hit last year by allegations of underpayment by employees in its UK supply chain, Deutsche said. However, Boohoo is taking steps to address these issues, according to the bank. Deutsche begins to cover the stock with a buy recommendation and a price target of 400 pence. ([email protected])
Failure to reopen AB Foods seen as risky opportunity
0925 GMT – Shares of Primark owner Associated British Foods have not seen the resumption of reopening other clothing retailers, suggesting downside risk is limited, according to Deutsche Bank. The lack of a big reopening rebound represents an opportunity, but this must be weighed against the potential downgrades to food divisions for next year, according to Deutsche. AB Foods’ grocery and sugar business provided earnings coverage as coronavirus closures resulted in Primark store closings, but these companies could face declining profits due to inflationary pressures in the chain supply and difficult comparative figures from the previous year, according to Deutsche. The bank begins hedging the stock with a conservation recommendation and a price target of 2,200 pence. ([email protected])
ASOS May Attract Investors With Long-Term Margin Goal
0913 GMT – UK online fashion retailer ASOS is expected to give indications of its long-term margin on a capital markets day in October, which could attract investors, according to Deutsche Bank. The company should be cautious about its margin outlook for fiscal 2022 given the investments in logistics and marketing, but to restore a long-term EBIT margin, DB said. ASOS was punished by the market after its third quarter update for its forecast of stable fourth quarter sales growth, but confidence in a long-term EBIT margin target will outweigh short-term profit decline , according to the bank. DB begins coverage on ASOS with a buy recommendation and a target price of 5,400 pence. ([email protected])
Anglo Pacific CEO’s departure casts a shadow over results
0859 GMT – Shares of Anglo Pacific fall 2.3% after the streaming and natural resource royalty company announced that chief executive Julian Treger would be leaving by March 2022. That casts a shadow over results today, and the market should be disappointed with the announcement, Tyler Broda said. “However, after eight years in this role, he leaves behind a strong team that has helped Anglo Pacific’s transition to a leading player in metallic battery royalties,” the analyst said. As for the first half results, earnings were largely in line with RBC forecasts. ([email protected])
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(END) Dow Jones Newswires
August 25, 2021 06:06 ET (10:06 GMT)
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