The FTSE 100 Closed Up 0.4% Helped by Copper, Metals

The FTSE 100 closed up 0.4% as a modest rebound in copper and other metals prices helped raise the basic resources sector with companies such as Antofagasta and Rio Tinto performing well. DS Smith was the day’s best performer, closing up 3.7%, followed by Avast, up 3.2%, Antofagasta, which closed up 3%, and Fresnillo, up 2.7%. Ocado was the day’s biggest faller–down 2.5%–after raising GBP578 million in a discounted cash raise, followed by Admiral Group and Associated British Foods, down 2.5% and 2.2% respectively.

 
Companies News:

DS Smith FY 2022 Profit Rose Amid Volume Growth, Expects Trend to Continue

DS Smith PLC on Tuesday reported higher profits amid record volume growth for fiscal 2022, and forecast that its performance will improve again this year.

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easyJet to Buy 56 New Aircraft from Airbus, Convert 18 Others

Budget airline easyJet PLC said Tuesday that it is buying 56 Airbus A320neo family aircraft from Airbus SE and converting 18 A320neo family aircraft into 18 A321neo aircraft.

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John Wood Names COO Ken Gilmartin as Incoming CEO

John Wood Group PLC said Tuesday that Chief Operating Officer Ken Gilmartin will become chief executive officer, effective July 1, taking over from current CEO Robin Watson.

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HSS Hire Sees 2022 Adjusted Ebita in Line With Market Views

HSS Hire Group PLC said Tuesday that it expects to report adjusted Ebita for the full year in line with market expectations as it continues to manage ongoing macroeconomic challenges effectively.

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Telecom Plus FY 2022 Revenue, Pretax Profit Rose on Demand, Underlying Organic Customer Growth

Telecom Plus PLC said Tuesday that it booked record results that were ahead of expectations for fiscal 2022, with increased revenue and pretax profit, after improved demand and underlying organic customer growth.

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Safestore 1H Pretax Profit Rose on Investment Gains; Sees Full-Year Earnings Rising

Safestore Holdings PLC said Tuesday that its pretax profit and revenue rose for the first half of fiscal 2022, driven mainly by investment property gains, and forecasts full-year earnings slightly above market views.

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FireAngel Expects to Meet Its 1H Views as Demand Outstrips Supply

FireAngel Safety Technology Group PLC said Tuesday that it expects to meet its first half views, with demand higher than its ability to supply products and set to remain high throughout 2022.

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K3 Capital Expect to Report Market Beating FY 2022 Earnings

K3 Capital Group PLC said Tuesday that it expects its fiscal 2022 performance to be ahead of market expectations, with all three units generating strong growth.

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Tremor International in Talks Over Potential Amobee Acquisition

Tremor International Ltd. said Tuesday that it is aware of press speculation regarding a potential acquisition of Amobee and that it is currently in discussions with the company.

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Record PLC FY 2022 Profit Rose, Declares Special Dividend

Record PLC said Tuesday that pretax profit for fiscal 2022 rose, as it benefited from management-fees growth across all current product lines, and raised its dividend payout and declared a special dividend.

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H.C. Slingsby Says Early 2022 Profit Rose on Higher Sales but Remains Cautious

H.C. Slingsby PLC said Tuesday that pretax profit in the first five months of the year rose due to increased sales, but retained a cautious outlook on a competitive market and macroeconomic factors.

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1Spatial Year-to-Date Sales Backlog, Recurring Revenue Rises

1Spatial PLC said Tuesday that its sales backlog and recurring revenue rose in fiscal 2023 to date, and it is confident in delivering full-year results in line with its expectations.

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Gear4Music FY 2022 Revenue, Pretax Profit Fell After Prior Year Was Boosted by Lockdown Impact

Gear4Music (Holdings) PLC said Tuesday that revenue and pretax profit for fiscal 2022 fell after an exceptional fiscal 2021 boosted by the effects of Covid-19 lockdowns.

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Starcrest Education Nonexecutive Chairman Resigns

Starcrest Education Ltd. said Tuesday that Nonexecutive Chairman John McLean has resigned, effective June 20.

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FinnCap CEO to Step Down; John Farrugia to be Named CEO Designate

FinnCap Group PLC said Tuesday that John Farrugia will be appointed chief executive officer designate and eventually CEO, as current CEO Sam Smith intends to step down from Sept. 1.

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B90 Holdings 2021 Pretax Loss Widened on Growth Expenses

B90 Holdings PLC said Tuesday that pretax loss for 2021 widened on higher costs as the group focused on organic growth and acquisitions.

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James Cropper Shares Rise on FY 2022 Profit, Revenue Increase

Shares of James Cropper PLC rose as much as 11% on Tuesday after the company reported an increase in pretax profit for fiscal 2022, on the back of strong customer demand which boosted revenue to prepandemic levels.

 
Market Talk:

DS Smith Sees Above-Average Volume Growth in FY23

0850 GMT – DS Smith expects 2%-4% volume growth in fiscal 2023, which is slightly ahead of the average growth expected for the wider market, Citi’s Ephrem Ravi says. The packaging company reported higher-than-expected revenue for fiscal 2022 with 15% price growth, showing that a continued price-cost spread is possible, Ravi says. Earnings per share and dividend were in line with consensus, and shares in the company rise 1.3%. “DS Smith should be relatively defensive in a deteriorating macroeconomic environment, given its higher exposure to fast-moving consumer goods volumes,” the analyst says. (jaime.llinares@wsj.com)

Spire Healthcare Should See Gains Amid Record-High NHS Waiting List

0841 GMT – Spire Healthcare is well placed to benefit from a record NHS backlog and private demand, analysts at Berenberg say in a research note. The U.K. private healthcare provider’s cost-saving target of GBP15 million is more than achievable given its efficiency programs and lower Covid-19-related costs, they say. One-tenth of the England’s population were on the NHS treatment waiting list as of May 2022 and private demand is expected to remain elevated as more of the public is willing to self-pay, the analysts say. Berenberg starts coverage on the stock with a buy recomendation and a price target of 300 pence. (michael.susin@wsj.com)

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

June 21, 2022 12:41 ET (16:41 GMT)