UK-Listed Airline Stocks Fall After Russia Attacks Ukraine
1023 GMT - London-listed airline stocks fall after Russia attacked Ukraine and the U.S. said it was preparing sanctions. Wizz Air said it was temporarily suspending flights to the area after the country closed its air space. The airline operates around 117 routes from six airports in the country. Shares in Wizz Air were down 11% at 3,255 pence, with IAG--owner of British Airways and Vueling, among others--down 6.6% at 146.47 pence and easyJet down 6.6% at 603.60 pence. Shares in German travel operator TUI were down 5.1% at 235.70 pence, while Jet2 was down 2.5% at 1,254 pence. (anthony.orunagoriainoff@dowjones.com)
Companies News:
St. James's Place 2021 Pretax Profit Rose, Driven by Higher Demand
St. James's Place PLC said Thursday that pretax profit nearly doubled in fiscal 2021, driven by higher client demand and a more favorable environment after the Covid-related disruptions.
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WPP Swung to 2021 Pretax Profit
WPP PLC on Thursday reported a swing to pretax profit for 2021, as top-line growth was driven by strong demand for services in digital marketing, media, e-commerce and technology.
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Serco Group's 2021 Pretax Profit Rose; Start to 2022 Strong
Serco Group PLC reported Thursday a significant rise in pretax profit for 2021 and said its guidance for 2022 remains unchanged, noting that it had a strong start to the year.
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Rolls-Royce 2021 Pretax Loss Narrowed; CEO Warren East to Step Down
Rolls-Royce Holdings PLC on Thursday reported a narrowed pretax loss for 2021 and said that Chief Executive Officer Warren East will be stepping down at the end of this year after almost eight years in the role.
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BAE Systems 2021 Pretax Profit Rose on Higher Sales
BAE Systems PLC said Thursday that pretax profit rose in 2021 on higher sales, and that in 2022 it looks forward to continuing top-line growth with margin expansion and good cash delivery against its rolling targets.
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Anglo American Declares $1 Bln Special Dividend as 2021 Profit Quadrupled
Anglo American PLC on Thursday declared a special dividend of $1.0 billion and reported that its net profit quadrupled in 2021 on the back of higher commodity prices.
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Hikma Pharmaceuticals 2021 Pretax Profit Fell on Higher Costs; Launches $300M Buyback Program
Hikma Pharmaceuticals PLC said Thursday that 2021 pretax profit fell after booking higher costs, and that it is launching a share buyback program of up to $300 million.
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Lloyds 4Q Pretax Profit Rise Missed Market Views on High Fraud-Related Costs
Lloyds Banking Group PLC on Thursday reported a rise in pretax profit for the fourth quarter of 2021 that fell short of market views as it booked high fraud-related costs, and said it intends to launch a share buyback program of up to 2 billion pounds ($2.71 billion).
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Centrica 2021 Profit Rose; Says Dividends to Restart Soon
Centrica PLC on Thursday reported a significantly improved profit for 2021 and said that it should be in a position to restart its dividend soon.
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Amigo Holdings Swung to a Nine-Month Pretax Profit
Amigo Holdings PLC reported on Thursday a swing to a pretax profit for the first nine months of fiscal 2022.
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Drax Swung to 2021 Pretax Profit But Ebitda Was Hurt by Major Outage
Drax Group PLC on Thursday reported a profit for 2021 although its underlying performance was hurt by a major planned generation outage on one biomass unit.
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Costain Group Pays National Grid GBP43.4 Mln to Settle Legacy Contract
Costain Group PLC said Thursday that it has made a full and final payment of 43.4 million pounds ($58.8 million) to National Grid PLC in settlement of the legacy Peterborough and Huntingdon contract.
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Hays Raises 2022 Op Profit Views, Driven by Gains in Business Confidence
Hays PLC said Thursday that it expects operating profit for 2022 to be above market expectations, as it is benefiting from strong performance in all regions as business confidence increases after pandemic-related disruptions.
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Noble Corp's Proposed Acquisition of Maersk Drilling Investigated by UK Regulator
The U.K. Competition and Markets Authority said Thursday it is starting an investigation into the acquisition by Noble Corp. of The Drilling Company of 1972 A/S, known as Maersk Drilling.
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Go-Ahead Makes GBP30M Provision for Potential U.K. Fine; 2021 Pretax Loss Narrowed
Go-Ahead Group PLC said Thursday that it was making a 30 million pounds ($40.6 million) provision for a potential financial penalty from the U.K.'s Department for Transport, as it reported a narrowed pretax loss for 2021 on increased revenue.
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Inchcape Swung to 2021 Pretax Profit; Raises Dividend and Launches GBP100 Mln Share Buyback
Inchcape PLC on Thursday posted a pretax profit for 2021 on the back of solid consumer demand and higher vehicle gross margins due to vehicle supply shortages, increased its dividend payout and outlined a share buyback program.
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Open Orphan Appoints Yamin Khan as CEO
Open Orphan PLC said Thursday that it has appointed Yamin Khan as chief executive officer with immediate effect.
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Rathbones Group 2021 Pretax Profit More Than Doubled
Rathbones Group PLC on Thursday reported a more-than-doubled pretax profit for 2021, and said funds under management increased.
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Howden Joinery FY 2021 Pretax Profit Rose on Higher Revenue
Howden Joinery Group PLC said on Thursday that pretax profit rose for fiscal 2021 as revenue increased, and that it has made an encouraging start to the new year.
Market Talk:
Pound Likely to Extend Losses Vs Dollar on Russia-Ukraine Crisis
1028 GMT - Sterling should weaken further versus the dollar after Russia launched an unprecedented invasion of Ukraine, MUFG Bank says. The market had already lowered its U.K. interest rate rise bets in recent days after comments from Bank of England officials and could further rein in those expectations in response to the conflict, MUFG currency analyst Lee Hardman says in a note. "The scaling back of more aggressive BOE rate hike expectations in the near-term combined with more risk-off trading conditions should see cable [GBP/USD] correct lower and test year to date lows at 1.3358 in the coming weeks," he says, noting the dollar's safe haven status. GBP/USD falls 0.9% to a three-and-a-half-week low of 1.3419, according to FactSet. (renae.dyer@wsj.com)
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Derwent London Faces Challenges Ahead
1027 GMT - Derwent London's 2021 results largely met expectations, but despite its relatively well-placed portfolio and strategy it will likely face challenges due to a relatively flat rental market for London offices and increasingly demanding tenants, RBC Capital Markets says. The property investment and development company is likely to benefit from weaker tenant demand for lower-quality office space, creating opportunities for it to acquire property at attractive prices, the Canadian bank says. "At the same time, we expect a drag from older buildings pre-redevelopment to be more noticeable in a flattish market," RBC says. The bank retains its underperform rating and price target of 2,850 pence on the stock. Shares are down 1.6% at 3,074 pence. (joseph.hoppe@wsj.com)
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Safe-Haven Assets to Remain in Demand Until There Is Clarity
1011 GMT - Safe-haven assets such as German Bunds, the U.S. dollar and gold are likely to remain in demand until there's more clarity regarding the escalating situation in Ukraine, Donner & Reuschel says. "The decisive factors now are how long the military operation will last, how far Russian troops will advance into Ukraine and what the reactions will be from the West and China," Carsten Mumm, chief economist of the bank, says. The situation is still too unclear to take a new position, he says, adding that in the past, armed conflicts have usually only resulted in short-term setbacks on stock markets. (emese.bartha@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-24-22 0547ET
