London stocks fall as investors wait for US jobs data

FTSE 100 drops as investors wait for US jobs data

The FTSE 100 drops 0.2% to 7106 points as traders look to the July U.S. Non-Farm Payrolls report for indications of when the Federal Reserve will start cutting relaunch. The data is due Friday at 12:30 GMT, with economists polled by the WSJ expecting an 845,000 increase in payrolls. Hikma Pharmaceuticals shares fell 3.8% after the drugmaker posted higher first-half profit before tax but lower basic gross margin. The London Stock Exchange Group is gaining 3.8% after the stock exchange and financial reporting firm announced an increase in its pre-tax profit for the first half of the year and said it would meet its financial targets.

 
Companies News: 

London Stock Exchange group’s pre-tax profit nearly doubled

The London Stock Exchange Group PLC on Friday reported nearly doubled pre-tax profit for the first half of 2021 and said it was confident in achieving its financial targets.

Hikma 1H Profit before tax, turnover, Rose; Increase orientation

Hikma Pharmaceuticals PLC said on Friday that first half profit before tax increased as revenue increased, and raised its forecast.

ContourGlobal 1H’s net profit fell 49%; Increases focus of adjusted earnings for exercise

ContourGlobal PLC said on Friday that its net profit had almost halved in the first half of the year, but raised its profit forecast for the whole of 2021.

London Stock Exchange Group Pre-Tax First Half Profit Increased and Expects to Meet Financial Targets for 2021 – Update

The London Stock Exchange Group PLC on Friday reported nearly doubled pre-tax profit for the first half of 2021 on Friday and said that although costs will rise in the second half of the year as it continues to integrate the Refinitiv acquisition, it will still hit its financial goals.

Civitas continues to perform as expected, net asset value increased slightly in the first quarter

Civitas Social Housing PLC said on Friday that it continued to operate as expected and that its net asset value per share increased slightly in the quarter through June.

Sanne obtains an extension of the deadline for taking control of Cinven; Discussions with Cinven and Apex continue

Sanne Group PLC said on Friday that the UK Takeover Panel had extended the deadline for Cinven Group Ltd. to make an offer for the company or to withdraw so the two companies can continue their talks. He added that Cinven was considering its options and the companies were working closely on a possible offer.

Caspian Sunrise intends to start paying dividends

Caspian Sunrise PLC said on Friday it was seeking shareholder approval for a capital reduction so it could start paying dividends, and it proposed a $ 6.2 million debt-for-equity swap with its main shareholder.

Ixico Revenue for Fiscal Year 2021, EBITDA Expected to Fall Due to the Effects of Covid-19

Ixico PLC said on Friday that revenue and earnings before interest, taxes, depreciation and amortization are expected to decline due to the effects of the pandemic on new bookings.

Jubilee Metals operating profit for fiscal 2021 soars

Jubilee Metals Group PLC announced on Friday that its operating profits nearly tripled in fiscal 2021.

Brave Bison swung to 1H of profit before taxes

Brave Bison Group PLC said on Friday that it moved to a pre-tax profit in the first half of the year after recording lower costs, and that it should be able to increase its fee-based revenue in the second half.

Starcrest signs terms and conditions to purchase up to 80% of the share capital issued by the National Training Company

Starcrest Education the Belt & Road Ltd. said on Friday that it had signed a legally non-binding memorandum of understanding for the acquisition of up to 80% of the share capital issued by National Training Company Ltd.

Reduction of CyanConnode Holdings pre-tax loss for fiscal 2021

CyanConnode Holdings PLC said on Friday that its pre-tax loss had narrowed for fiscal 2021 after recording lower costs, and that the board was pleased with the company’s momentum for fiscal 2022.

ReNeuron appoints Catherine Isted of Oxford BioMedica as Chief Financial Officer

ReNeuron Group PLC announced on Friday that it has appointed Catherine Isted as Chief Financial Officer.

Sportech plans to return £ 35.5million via takeover bid; Rise in shares

Shares of Sportech PLC rose 12% at the start of trading on Friday after the company announced its intention to return 35.5 million pounds ($ 49.4 million) to shareholders via a takeover bid of up to 47.02% of its issued share capital.

 
Market Talk: 

UK construction stocks fall as house prices rise

0906 GMT – UK home builders fall after industry data showed house prices were slowing on a year-over-year basis, although they rose last month. Prices rose 0.4% in July from a 0.6% drop in June, according to mortgage lender Halifax. Yet the annual price increase fell to 7.6% from 8.7% in June, its lowest level since March. “Buyer activity is expected to continue to slow over the next few months and a more stable period for the market may be on the horizon,” said Halifax Managing Director Russell Galley. Rightmove, Berkeley, Barratt Developments, Taylor Wimpey and Persimmon, listed on the FTSE 100, are all down, while FTSE 250 builders Bellway, Redrow and Vistry are also falling.

British Pound Extends Gains Against Euro After BOE Decision

0857 GMT – The British pound extends its gains against the euro after the Bank of England said on Thursday that a slight tightening of monetary policy would likely be needed over the next two years. EUR / GBP falls 0.1% to a four-month low of 0.8480, according to FactSet. “The BOE delivered a mildly hawkish message yesterday, including a conclusion that a slight tightening may be needed if things go as planned,” ING analysts said. “It may be a small step for the BOE, but it is a giant step compared to the communication of the European Central Bank.” EUR / GBP could hit March low of 0.8470 if EUR / USD hits a potentially strong US non-farm payroll report at 12:30 GMT, analysts said.

The increase in the price cap on energy tariffs in the UK is not surprising

0810 GMT – UK energy bill price cap 12% increase is unsurprising and follows a 10% increase in last April update, according to RBC Capital Markets. The lack of surprise is due to the fact that commodity prices have risen sharply since the last update provided by UK energy watchdog Ofgem, according to the Canadian bank. Ofgem said on Friday morning that the default variable price cap for UK domestic customers had been increased from £ 139 to £ 1,277 per year for the six-month period starting October 1.

Hikma Pharmaceuticals forecast increase likely to turn into EBIT consensus upgrade

0751 GMT – Hikma Pharmaceuticals first half results were strong and the company raised its generic US forecast for revenue and EBIT margin given its strong year-to-date performance , said Jefferies. For the group, this will likely translate to a 3% to 4% upgrade from the 2021 adjusted EBIT consensus, according to the U.S. bank. “We expected an increase in the margin, but we believe that a turnover is not in the market expectations despite the rise of the shares in the results, we therefore expect a favorable reaction from the price of action, ”the bank said. Jefferies evaluates the purchase of shares with a target price of 2,870 pence.

 

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

(END) Dow Jones Newswires

August 06, 2021 05:46 ET (09:46 GMT)

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

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