FTSE 100 Rises as Retail Stocks Rally After Upbeat Data
0741 GMT - The FTSE 100 rises 0.6% to 7783 points as the U.K. market reopens after being closed for the four-day Easter break. London's premier index is supported by "a mixture of a move to a risk-on approach and strong U.K. retail sales data," Interactive Investor analyst Richard Hunter writes. U.K. retail sales rose 5.1% year-on-year in March as Mother's Day purchases offset cost of living pressures and wet weather keeping shoppers at home, a report from the British Retail Consortium and KPMG showed Tuesday. Retail stocks including Kingfisher, B&M, JD Sports Fashion, Frasers Group and Next rise. Mining shares such as Glencore and Rio Tinto are also higher as metal prices rise. (renae.dyer@wsj.com)
Companies News:
MJ Hudson to Sell Remaining Divisions to Apex for GBP40 Mln
MJ Hudson Group PLC said Tuesday that it has agreed to sell its remaining operating divisions to Apex Consolidation Entity Ltd. of Apex Group Ltd. for around 40 million pounds ($49.5 million) on a debt-free basis as it winds down the business.
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Devolver Digital Swung to 2022 Pretax Loss on Impairments
Devolver Digital Inc. said Tuesday it swung to a pretax loss in 2022 due to several impairments, but that revenue rose thanks to a rise in games released.
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Spectral MD to Combine With SPAC Rosecliff Acquisition; Delist From UK Market
Spectral MD Holdings Ltd. said Tuesday that it has agreed to combine with special-purpose acquisition company Rosecliff Acquisition Corp I, valuing the company at around an enterprise value of $170 million.
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JTC Sees Growth Beating Views This Year After 2022 Pretax Profit Rose
JTC PLC on Tuesday posted a 29% rise in pretax profit in 2022 on new business wins and said it expects to exceed its growth guidance this year.
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Impax Asset Management 2Q Assets Under Management Rose
Impax Asset Management Group PLC on Tuesday said its assets under management rose in the second quarter of fiscal 2023.
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Zegona Communications 2022 Pretax Loss Narrowed; Continues to Seek Investment Opportunities
Zegona Communications PLC said Tuesday that its pretax loss for 2022 narrowed and that it continues to seek investment opportunities.
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Tavistock Investments Buys Precise Protect for Up to GBP7.0 Mln
Tavistock Investments PLC on Tuesday said it bought insurance and protection business Precise Protect Ltd. for up to 7.0 million pounds ($8.7 million).
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Datalex Amends Line of Credit, Explores More Fundraising Options
Datalex PLC said Tuesday that it has amended its line-of-credit agreement to provide further financial flexibility, and it is exploring further fundraising options.
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MGC Pharma Shares Drop After GBP1.8 Mln Fundraise, Subscription
MGC Pharmaceuticals Ltd. shares fell Tuesday after it said that it has raised 1.8 million pounds ($2.2 million) in a discount share placing and subscription to progress its clinical trial pipeline.
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Galaxy Digital to build UK banking team as US crypto crackdown bites -- Financial News
Mike Novogratz's crypto firm has returned to profit. Now it wants to build out its Emea dealmaking team
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Rockwood Strategic Fiscal 2023 Net Asset Value Rose
Rockwood Strategic PLC said Tuesday that net asset value total return for the year ended March 31 rose over 21% to 1,959.56 pence a share, and that total shareholder return in the period was 28.2%.
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EnSilica CFO Steps Down
EnSilica PLC said Tuesday that Chief Financial Officer Matthew Wethey has stepped down.
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MHP 4Q 2022 Revenue Rose on Strong Poultry Exports
MHP SE said Tuesday that revenue rose in the fourth quarter of 2022 and for the year as a whole as poultry exports and average prices grew.
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Hollywood Bowl 1H Revenue Rose, Is Confident on Full-Year Prospects
Hollywood Bowl Group PLC said Tuesday that its first-half revenue rose 11% on year, and that it is confident in its prospects for the full fiscal year 2023.
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Woodbois Expects Higher Revenue, Positive Operational Cash Flow in 2023
Woodbois Ltd. on Tuesday said it sees 2023 revenue exceeding the previous year's as it posted an increase in first-quarter sales and that it is exploring the sale of two production sites in Gabon.
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LSL Property Services Sells Two Brokerages to Pivotal Growth Joint Venture
LSL Property Services PLC said Tuesday that it has sold its two direct-to-consumers brokerage firms Embrace Financial Services Ltd. and First2Protect Ltd. to its joint venture Pivotal Growth Ltd.
Market Talk:
Industrial Metals Slip, Gold Lifts as Markets Await Inflation Data
0729 GMT - Base metal prices are falling while gold futures are rising as markets look to tomorrow's inflation data - with higher inflation likely to mean interest rate increases from the U.S. Federal Reserve. Three-month copper is down 0.3% to $8,838 a metric ton while aluminum is 0.6%. lower at $2,325 a ton. Gold is up 0.5% to $2,014.10 a troy ounce. "The macro environment is sending mixed signals for commodity money flows," says Dave Whitcomb, head of research at Peak Trading Research in a note. Markets are expecting a drop in CPI to 5.1% from 6% on month, he says. "Softer inflation data tomorrow (below 5.0%) would be a bullish tailwind for commodity markets via a more dovish Fed and a weaker U.S. dollar." (yusuf.khan@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
04-11-23 0359ET
