Glencore Unlikely to Become Acquisition Target for BHP
0847 GMT - Glencore isn't likely to become an acquisition target for BHP or any other miner, analysts at Jefferies say in a note. The commodity mining and trading company has significant exposure tohigh-risk regions, such zinc in Kazakhstan, whereas BHP's assets are located in relatively stable jurisdictions, the analysts say. Furthermore, its marketing segment wouldn't be a good fit given jurisdictional risk and a history of regulatory issues, they say. "A BHP acquisition of Glencore would be problematic from an antitrust perspective--copper and possibly nickel--even if we assume Glencore would de-merge its coal business first," the analysts say. Shares are up 2.9% at 470.70 pence. (anthony.orunagoriainoff@dowjones.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:
Hollywood Bowl's Affordable Offering Drives Record Revenue
0839 GMT - Hollywood Bowl has delivered record first-half revenue, as penny-watching consumers turn to affordable luxuries like bowling amid the cost-of-living crisis, AJ Bell says. The bowling operator has kept its eye on the future and continued to invest in its business, refurbishing sites and making operational efficiencies, AJ Bell investment director Russ Mould says in a market comment. "Having mastered the act of running bowling centers in the U.K., the company's game plan now involves rolling out that business model across Canada while also adding mini golf sites to its homeland territory," Mould says. Shares are up 2% at 250.5 pence. (joseph.hoppe@wsj.com)
JTC Seen Continuing to Outperform
0819 GMT - JTC's price-to-earnings ratio provides an attractive entry point into a high-quality company with significant scope to continue to outperform, says Berenberg in a note after the fund, corporate and private client services provider posted "stellar" 2022 results. "JTC's strong FY22 performance in the face of a weakening macroeconomic backdrop is unsurprising to us, given the group's exposure to attractive secular tailwinds: increased outsourcing as a result of growing financial and regulatory burdens, higher client activity levels, increasing operational complexity and growing asset classes," it says. Berenberg, which sees double-digit growth for the group as momentum continues, has a buy rating on the stock. Shares edge up 0.6% to 715.5 pence. (elena.vardon@wsj.com)
Hollywood Bowl Looks a Sector-Leading Stock, Berenberg Says
0757 GMT - Hollywood Bowl appears a top pick in the leisure sector, particularly after reporting record first-half revenue, Berenberg analysts say in a research note. The bowling operator delivered 3.5% like-for-like revenue growth, beating expectations, which is impressive given the uncertain macroeconomic environment and major on-year growth the year prior, Berenberg says. "With its market-leading position in the U.K. and the growth opportunities in Canada, the continued cash flow generation of the business and the success of its refurbishment and new center opening strategy, we remain confident in the outlook for Hollywood Bowl," Berenberg says. The brokerage reiterates its buy rating and raises its price target to 360 pence from 350 pence for the stock. Shares are up 1.8% at 250.0 pence. (joseph.hoppe@wsj.com)
Devolver Digital's Share Fall Seen as Aptly Reflecting Valuation
0755 GMT - Devolver Digital's weak 2022 sets caution for the year ahead, Shore Capital analyst Katie Cousins writes in a research note following the videogame publisher's preliminary results. "Considering the 81% decline in the share price over the last 12 months, we feel the current valuation appropriately captures the recent downgrade reaction along with an increased caution in the outlook," Cousins says. Shore Capital continues to see better value elsewhere in the sector, she says, as the investment group keeps a hold rating on Devolver's stock. Shares are down 9.4% at 29 pence, the lowest since its listing. (christian.moess@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
04-11-23 0505ET
