FTSE 100 bounces back as travel and oil stocks gain

FTSE 100 rises in early trade as travel and oil stocks rebound

0924 GMT – The FTSE 100 rose 1.3% to 7152.73 early in the session, rebounding from the previous day’s losses and after US Federal Reserve Chairman Jerome Powell said the notion of inflation transient should be removed. Powell appeared to dismiss concerns about the new omicron Covid-19 variant, although for investors those concerns will likely persist. “Some traders seem to have decided that the weakness has gone far enough so far as they emerged to push up stocks and oil,” said Russ Mold, chief investment officer of AJ Bell. Travel stocks rebound, British Airways owner International Consolidated Airlines up 4.7%, while oil and miners stocks also rise as oil prices rise. Defensive utilities stocks are down, with Severn Trent losing 2.4% and United Utilities 1.7%. ([email protected])

Companies News: 

STV Group sees its advertising revenues increase in 2021 on a more solid 4T

STV Group PLC said on Wednesday that it expects total advertising revenue for 2021 to be at an all-time high, with a stronger-than-expected fourth quarter.

Online blockchain moved to pre-tax profit for fiscal 2021

Online Blockchain PLC announced a profit for the fiscal year ended June 30 on Wednesday.

Drax sees 2021 adjusted EBITDA at the top of expectations

Drax Group PLC forecast on Wednesday that its 2021 adjusted profit before interest, taxes, depreciation and amortization would be higher than current analysts’ expectations.

Bricklaying 1H Profit, Revenu Rose; Appoints a new COO

Brickability Group PLC said on Wednesday pre-tax profit more than doubled and revenue nearly tripled for the first half of fiscal 2022, and appointed Paul Hamilton as the new chief operating officer.

Blue Prism accepts upgraded offer of £ 1.23 billion from SS&C; Withdraw the Vista recommendation

Blue Prism Group PLC announced on Wednesday that it had accepted a new higher takeover of 1.23 billion pounds ($ 1.64 billion) by SS&C Technologies Holdings, Inc. and withdrew its recommendation for the Vista Equity offer. Partners.

S4 Capital acquires Maverick Digital

S4 Capital PLC announced on Wednesday that US Salesforce specialist Maverick Digital is merging with the company’s Media.Monks subsidiary.

Sunbeds 1H Profit Before Tax, Pink Income

Loungers PLC said on Wednesday that first half pre-tax profit has increased thanks to higher revenues and that while he is aware of the Omicron coronavirus variant, he is optimistic for the Christmas season and beyond.

Springfield Properties purchases Tulloch Homes; Offer an investment to help fund

Springfield Properties PLC said on Wednesday it had conditionally acquired private home builder Tulloch Homes for £ 56.4 million ($ 75.0 million) and offered a placement to help refinance a portion of the cash consideration.

Amedeo Air Four Plus to return £ 30million to shareholders; Restore dividends in 2022

Amedeo Air Four Plus Ltd. said on Wednesday it would return £ 30million ($ 39.9million) to shareholders through a mandatory partial common share buyback on December 8, and that the board intended to reinstate dividends in 2022.

Drax aims to double biomass pellet production and sales by 2030

Drax Group PLC set targets on Wednesday to double both its production and sales of biomass pellets by 2030.

IG Group Offers Sale of Small Exchange Stake and Nadex for $ 216 Million

IG Group Holdings PLC said on Wednesday it had offered to sell North American Derivatives Exchange, Inc. or Nadex, and its stake in Small Exchange, Inc. for approximately $ 216 million.

Beowulf Mining shares rise following positive Swedish government comments

Beowulf Mining PLC said on Wednesday it noted the rise in its stock prices in Stockholm and London after recent positive comments from the new Swedish government.

Marechale Capital swung profit at 1 hour on investment gains

Marechale Capital PLC said on Wednesday that it had moved to a first half profit before tax mainly through investment gains, and that revenue increased significantly.

Market Talk: 

UK January 2032 auction set to go well

8:54 a.m. GMT – The UK Debt Management Office’s planned sale of £ 2.25 billion in the January 2032 gilt is expected to cost four to five basis points above the 2031 gilt, according to RBC Capital Markets. Bank estimates fair value at two basis points to 2031 gilt, but says a two to three basis point haircut for new issues is justified to encourage buyers to consider less liquidity risk and reuse. The 2032 gilt is already trading 5.7 basis points above the 2031 gilt, which “looks pretty attractive at these levels” and RBC analysts don’t think there should be any issues with the pullback. today’s auction. ([email protected])


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

(END) Dow Jones Newswires

December 01, 2021 04:40 ET (09:40 GMT)

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Steve R. Hansen