The FTSE 100 index closed up 0.18% at 7,333.63 points on Thursday, falling from intraday highs as the Nvidia-fuelled bounce saw the index rise as much as 0.90% earlier in the session. "That sugar rush has faded somewhat as the day has progressed with shares retreating from their intraday highs, and bond yields edging back up again," CMC Markets UK's Michael Hewson writes in a note. The blue-chip index's outperformance of peers may also be fuelled by the weakness in the pound, as it is one of the only European indices to finish in the green after early gains, Oanda's Craig Erlam writes. The performance of its defensive stocks also helped the FTSE hang on to gains, despite growth concerns that weighed on the basic resource sector and the drag from low copper prices on miners.


COMPANIES NEWS:

Intertek Buys PlayerLync for Undisclosed Sum

Intertek Group has bought PlayerLync Holdings, a provider of mobile-first training and learning content, for an undisclosed sum.

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Harbour Energy Narrows Full-Year Production View as Pretax Profit Drops

Harbour Energy narrowed its full-year production guidance to the lower end of the range, after pretax profits dropped in the first half of the year amid weaker energy prices.

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Drax Group Appoints Andrea Bertone as Chair Designate

Drax Group has appointed Andrea Bertone as nonexecutive director and chair designate effective Thursday.

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Hunting Earnings, Revenue Surge on Strong Energy Demand

Hunting said its earnings soared in the first half of the year on the back of revenue boosted by strong demand across oil and gas industries, and that it has lifted its interim dividend payout.

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Liontrust Asset Management to Declare GAM Offer as Failed Next Week

Liontrust Asset Management expects to declare its offer for Zurich-listed investment manager GAM Holding as unsuccessful next Tuesday after preliminary figures showed that it has failed to get the minimum acceptance level required for it to proceed.

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Hays Declares Special Dividend Despite FY 2023 Profit Fall; Appoints New CEO

Hays said that fiscal 2023 pretax profit fell on the back of increased expenses, released a special dividend and announced the appointment of a new chief executive officer.

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Benchmark Holdings 3Q Pretax Loss Narrowed on Lower Costs

Benchmark Holdings said that third-quarter pretax loss substantially narrowed driven by a robust fall on costs and said that it is performing within market expectations.

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Hunting Launches Strategic Operational Restructure

Hunting has begun a restructure of its operations in addition to disposing legacy non-core assets in a bid to enhance returns and lower the cost base.

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Redcentric Keeps Stable Dividend After FY 2023 Pretax Loss on Higher Expenses

Redcentric reported a swing to fiscal 2023 pretax loss as operating expenses more than doubled, and declared a flat dividend payout.

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Malvern International Shares Jump on Return to 1H Profit as Revenue Doubles

Shares of Malvern International rose 22% in early trade after the company said that it expects to report a return to profit for the first half-year on revenue that more than doubled on the back of strong student uptakes.

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James Cropper Cuts Dividend As FY 2023 Profit Fell on Higher Costs

James Cropper said that pretax profit for fiscal 2023 has more than halved on the back of increased costs despite a revenue increase, and cut its dividend payout.

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MacFarlane Group Pretax Profit Rose on Acquisitions, Performance in Europe

MacFarlane Group said its pretax profit rose in the first half of the year despite weakening demand in some markets, and that it raised its interim dividend payout.

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Cordiant Digital Infrastructure to Buy Irish Fiber Infrastructure Provider

Cordiant Digital Infrastructure is buying Irish open access fiber infrastructure provider Speed Fibre DAC for 97 million euros ($105.4 million).

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Tribal Group 1H Profit Rose on Education Services Performance

Tribal Group reported a first-half pretax profit increase driven by a performance improvement in its education-services business.

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Zamaz to Change Name to Dispensa; Appoints New Nonexecutive Chair

Zamaz said that it will change its name to Dispensa Group and that it has appointed a new nonexecutive Chair.

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Fusion Antibodies Taps Stephen Smyth as Interim CFO

Fusion Antibodies said it has appointed Stephen Smyth as interim chief financial officer with immediate effect.

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Ashington Innovation to Buy Calon Cardio-Technology in All-Share Deal

Ashington Innovation has signed a preliminary agreement to buy Calon Cardio-Technology for 39 million pounds ($49.6 million) in shares, conditional upon the completion of its reverse takeover of Cell Therapy.

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Anglo-Eastern Plantations Resumes Interim Dividend, Launches Buyback Despite Profit Drop

Anglo-Eastern Plantations said its pretax profit dropped in the first half of the year due to weaker crude palm oil prices, but plans to return more money to shareholders via an interim dividend and share buyback program.

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ValiRx Shares Rise on Higher Income Expectations From Inaphaea BioLabs

Shares of ValiRx rose 11% after the company said it expects extra income from Inaphaea BioLabs, which was launched over the first half of this year, and despite widened losses.

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ThomasLloyd Energy Shareholders Vote Against Continuation; Board to Review Options

ThomasLloyd Energy Impact Trust shareholders voted against the continuation of the company, in line with the recommendation issued by the board, which will now begin a review on the group's future.

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UBS snags 20 Credit Suisse dealmakers in Europe as integration continues -- Financial News

Insiders tell Financial News that a number of discussions over whether to keep Credit Suisse bankers after the takeover have ended with agreements

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Kinovo Shares Rise on Possible GBP34.8Mln Takeover Offer

Shares in Kinovo rose 9.3% after the company said it received a preliminary bid from Rx3 Holdings worth 34.8 million pounds ($44.3 million).

MARKET TALK:

Hunting's Order Book Provides Good Near-Team Visibility, RBC Says

1255 GMT - Hunting's order book provides strong visibility for the remainder of the year, despite coming in at the low end of the company's guided range, RBC analyst Victoria McCulloch writes in a research note. The energy-services group had an order book of $529.7 million at the end of the first half, nearly making the bottom of its $530 million-$550 million guidance, of which $350 million is expected to be executed in the second half, McCulloch says. Meanwhile, the company's plans to restructure its manufacturing footprint could increase efficiencies, margins and returns, with costs expected to be $3 million-$5 million and efficiencies coming through from next year, she says. RBC rates the stock at outperform with a 400-pence price target. (christian.moess@wsj.com)

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CRH Shows Ability to Capitalize on Positive Momentum

1245 GMT - CRH has plenty of opportunities ahead--with infrastructure funding now flowing and improved momentum in non-residential markets-- which are expected to accelerate with the primary U.S. listing, Davy Research analysts Ross Harvey and Andrea Collins say in a note. The building-materials supplier reported a robust 1H Ebitda growth, along with a margin uplift and robust capital regeneration, showing the ability to capitalize on a positive backdrop, they highlight. "We are excited about the prospect for returns-accretive capital deployment at CRH given the strength of its balance sheet and the company's disciplined approach to capital allocation", the analysts say. Davy has an outperform rating on the stock. (michael.susin@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

08-24-23 1219ET