Favorable Valuation Likely to Boost Demand for UK January 2027 Gilt
0954 GMT - The U.K. Debt Management Office's 4.125% January 2027 gilt due to be auctioned on Tuesday is expected to receive significant demand due to its favorably valuation, say RBC Capital Markets analysts in a note. "We think the bond looks attractive both on the curve and particularly on relative value terms, which, in the context of the supply outlook, should result in good demand for Tuesday's auction," they say. A seven-week supply gap of the U.K. 4.125% January 2027 gilt until the next tap on March 15 is also likely to increase demand at Tuesday's auction, the analysts say. (miriam.mukuru@wsj.com)
Companies News:
React FY 2022 Earnings Rose Amid Organic Revenue Growth, LaddersFree Acquisition
React Group PLC said Tuesday that fiscal 2022 earnings rose as revenue benefited from organic growth and the acquisition of LaddersFree in May.
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BP Adds $28 Billion to Record Full-Year Profits of Oil Giants
LONDON--BP PLC became the latest oil giant to post record annual profit last year, joining peers on both sides of the Atlantic in capitalizing on soaring energy prices.
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Morgan Advanced Materials Sees 2022 Beating Market Views, Expects 2023 Profit Hit
Morgan Advanced Materials PLC said Tuesday that it expects its 2022 performance to slightly exceed market expectations, though it expects production inefficiencies to hit 2023 adjusted operating profit.
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Mattioli Woods 1H Pretax Profit Rose
Mattioli Woods PLC on Tuesday posted a rise in half-year pretax profit and said that outlook for fiscal 2023 remains in line with expectations.
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Ferrexpo Gets Ukrainian Court Order Freezing Subsidiary's Bank Accounts
Ferrexpo PLC said Tuesday that it has received a court order issued at the request of a prosecutor in Ukraine, to freeze the bank accounts of one of its subsidiaries based in the country, Ferrexpo Poltava Mining.
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Zinc Media Sees 2022 Revenue, Adjusted Earnings Ahead of Views After Strong 4Q Performance
Zinc Media Group PLC said Tuesday that revenue and adjusted earnings before interest, taxes, depreciation and amortization for 2022 are expected to be ahead of current market expectations after it booked a strong fourth-quarter performance boosted by its The Edge film content business.
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Numis Flags Continuation of Difficult Market Conditions
Numis Corp. said on Tuesday that its revenue for the first four months of fiscal 2023 was similar to the second-half run-rate of fiscal 2022 as it experienced a continuation of difficult market conditions but said it is well-placed to deliver when volumes recover.
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Ormonde Mining Shares Suspended After Peak Nickel Stake Buy, Takeover Possibility
Ormonde Mining PLC shares were suspended Tuesday after it said it has acquired a 20% stake in Peak Nickel Ltd. for 450,000 pounds ($540,810), with options to include further acquisitions, including a full takeover.
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Sanderson Design Sees FY 2023 Revenue Broadly Flat
Sanderson Design Group PLC said Tuesday that revenue for fiscal 2023 is expected to be broadly flat on year after strong performances from the Morris & Co. brand, licensing and North America, but a hit from the withdrawal from the Russian market.
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Frenkel Topping Sees 2022 Revenue in Line With Views
Frenkel Topping Group PLC said Tuesday that it expects to report higher 2022 revenue in line with expectations and is keeping its 2023 outlook unchanged after a strong start to the year.
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Victorian Plumbing Names Dan Barton as New CFO as Paul Meehan Steps Down
Victorian Plumbing Group PLC on Tuesday that Daniel Barton has been chosen as its new chief financial officer, replacing Paul Meehan who will be stepping down from the role on March 31 to pursue other opportunities.
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Smartspace Software Shares Rise on FY 2023 Revenue Increase
Smartspace Software PLC shares rose Tuesday after it said it expects fiscal 2023 revenue to rise and losses to beat market expectations.
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Ebiquity Sees 2022 Revenue 20% Higher on Year
Ebiquity PLC said Tuesday that performance for 2022 was in line with market expectations, with revenue set to be 20% higher on year.
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Water Intelligence 2022 Pretax Profit Slipped, Buys Back Nashville Franchise
Water Intelligence PLC on Tuesday said its 2022 pretax profit fell slightly due to non-cash expenses as it posted a 31% rise in revenue and said it has reacquired its Nashville franchise.
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Ixico Sees Double-Digit Revenue Growth in Fiscal 2024
Ixico PLC said Tuesday that it continues to see fiscal 2023 revenue of 7 million pounds ($8.4 million) and that it now expects double-digit revenue growth for fiscal 2024.
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Brooks Macdonald Names Richard Price as Acting Chairman as Alan Carruthers Resigns
Brooks Macdonald Group PLC on Tuesday said Chairman Alan Carruthers has resigned from the board with immediate effect due to health issues.
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Deepverge Appoints Andrew Waters as Chief Financial Officer
Deepverge PLC said Tuesday that it has appointed Andrew Waters as chief financial officer with immediate effect.
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East Imperial Sees 2022 Revenue Jump on Broad Sales Growth
East Imperial PLC said Tuesday that 2022 revenue increased 16% on year to around 3.2 million pounds ($3.8 million), driven by increased sales across all markets.
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Serica Energy Says Portfolio Production Was Strong in January
Serica Energy PLC said Tuesday that production performance of both the Serica and Tailwind portfolios has remained strong despite challenging weather in January.
Market Talk:
Mattioli Woods' Goals Seen Further Boosted by M&A
1004 GMT - Mattioli Woods is well-placed to execute further bolt-on acquisitions, says Canaccord Genuity in a note after the wealth and asset manager reiterated its strategic mid-term goals to grow operations to GBP300 million revenue, GBP30 billion total client assets and GBP100 million Ebitda. "We expect strategic M&A where opportunities arise to continue to play a role in progress towards the targets as well as organic growth," say analysts Justin Bates and Portia Patel. They flag a robust fiscal first half but reduce FY23-25 revenue forecasts on second-half market uncertainty, which has hit new client numbers and pushed the timeline for realizations in its private-equity management segment. Canaccord lowers the target price on the buy-rated stock to 830 pence from 850 pence. Shares fall 3.1% at 630 pence. (elena.vardon@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-07-23 0520ET
