UK 10-year gilt yield opens higher

UK 10-year gilt yield opens higher

0801 GMT – Investors are selling benchmark UK government bonds this morning after rebounding strongly the day before, pushing yields higher, according to Tradeweb data. The 10-year gilt yield, which trades inversely to the price of the bond, is last quoted at 1.801%, after closing at 1.791% on Tuesday, the lowest level since April 8. , according to the bond trading platform. Rising geopolitical tensions in Europe as Russia’s war in Ukraine sharply intensifies risk appetite on Tuesday, Deutsche Bank said in a research note. This comes on top of prevailing fears of a slowdown in global growth and the correspondingly shallower trajectory of Federal Reserve policy tightening, which ricocheted through global sovereign bond markets, according to the report. ([email protected])

Companies News: 

WPP 1Q revenue increased; Increases forecast for the full year

WPP PLC said on Wednesday first-quarter revenue increased as continued momentum from 2021 contributed to growth across all businesses and regions during the period.

Fresnillo backs 2022 guidance as Q1 production line

Fresnillo PLC on Wednesday reaffirmed its 2022 production guidance as its mines performed in line with expectations in the first quarter.

Darktrace Management, employees sell shares at 410 pence each

Jefferies International Ltd. said on Wednesday it had sold 6.1 million shares of Darktrace PLC on behalf of management and employees at 410 pence per share, as announced on Tuesday evening.

M&G PLC CEO John Foley retires

M&G PLC said on Wednesday chief executive John Foley had decided to retire and would begin a process to appoint his successor.

London Stock Exchange Group underlying income increased in Q1

The London Stock Exchange Group PLC said on Wednesday that total revenue for the first quarter rose on an underlying basis.

United Utilities CEO Steve Mogford to retire in 2023

United Utilities Group PLC said Wednesday that chief executive Steve Mogford will retire next year and be replaced by Louise Beardmore as CEO designate.

Persimmon YTD Performance in line with views; Demand remains strong

Persimmon PLC said on Wednesday its year-to-date performance was in line with expectations, with demand remaining strong and its rate of private sales about 2% higher year on year.

Lloyds Says First-Quarter Pre-Tax Profit Falls But Beats Views; Improves 2022 forecast

Lloyds Banking Group PLC on Wednesday reported lower pre-tax profit for the first quarter of 2021, beating market forecasts of a bigger fall, and said it had improved its full-year guidance.

Nichols Q1 revenue grew on strength of Vimto and pandemic recovery

Nichols PLC said on Wednesday first-quarter revenue rose 29% year-on-year as the Vimto brand outperformed the wider UK soft drinks market and the outside continued to recover from Covid-19 restrictions.

Aveva Q4 Sales Increased 18%; sees a decline in FY2023 revenue

Aveva Group PLC said on Wednesday that fourth-quarter revenue grew 18% on a pro forma organic basis in constant currency, and that full-year 2023 revenue would be impacted by the timing of revenue recognition as well as the war in Ukraine.

Metro Bank 1Q Loan deposits increased, assets fell

Metro Bank PLC said Wednesday that loans and deposits both increased year-on-year in the first quarter, although assets fell slightly.

Ted Baker has received a number of non-binding takeover proposals

Ted Baker PLC said on Wednesday it had now received a number of non-binding takeover proposals and invited some of the parties to engage in a due diligence process.

Drax sees 2022 EBITDA atop market views

Drax Group PLC said on Wednesday it expects to generate full-year earnings at the top of analysts’ expectations after a strong performance in the first quarter.

Inspecs says first quarter performance was strong and revenue grew

Inspecs Group PLC said Wednesday that its performance for the first quarter of 2022 was strong, marked by significant revenue growth.

Sportech declares special dividend of £7m

Sportech PLC on Wednesday declared a special dividend of seven million pounds ($8.8 million) which amounts to seven pence per share.

GlaxoSmithKline 1Q earnings and revenue beat expectations

GlaxoSmithKline PLC on Wednesday posted higher first-quarter earnings and revenue, beating expectations as sales rose in the biopharmaceutical and consumer healthcare sectors.

Coca-Cola Europacific Partners’ revenues increased in the first quarter; Declare an interim dividend

Coca-Cola Europacific Partners PLC said Wednesday that first-quarter revenue increased a year after it acquired Coca-Cola Amatil in May 2021 and declared an interim dividend.

Go-Ahead 1H Pretax profit fell due to lower revenues

Go-Ahead Group PLC said on Wednesday that pre-tax profit for the first half of fiscal 2022 fell as revenue fell and that it intended to reinstate the payment of dividends.

Bank of Ireland has had a positive start to 2022, with a strengthened capital position

Bank of Ireland Group PLC said on Wednesday it had started 2022 well, with net interest income, costs and capital in line with expectations, and added that its business momentum remained positive.

Etalon Group’s first quarter new sales increased thanks to increased real estate demand

Etalon Group PLC said on Wednesday that new sales for the first quarter of 2022 had increased due to active demand for real estate, and that sales continued to be supported by the Russian state-backed mortgage program.

WH Smith moved to 1H pre-tax earnings; Confident in the prospects of the exercise

WH Smith PLC reported a shift to pre-tax profit in the first half of financial year 2022, driven by a post-pandemic recovery in its markets, and said it was confident about the outlook for the financial year.

Pendragon 1Q’s Underlying Pretax Earnings Jumped; View the full year online

Pendragon PLC said on Wednesday that underlying first-quarter pre-tax profit jumped on the year as it implemented its strategy, and it expects to meet the board’s expectations for the year ahead. whole year despite macroeconomic uncertainty and inflationary pressures.

IG Design shares fall after fiscal 2022, market’s missing views on US performance

Shares of IG Design Group PLC fell on Wednesday after the company said it expected adjusted after-tax losses and adjusted loss per share for fiscal year 2022 to be significantly below market expectations.

Market Talk: 

Diageo shares fall as Deutsche downgrades, cites economic issues

07:42 GMT – Shares of British drinks company Diageo fell 1.9% to 3,896 pence after Deutsche Bank downgraded the stock to keep it from buying as it becomes more cautious on beverage makers European spirits and more positive towards brewers as fears emerge over growth and inflation. “Inflation remains a key target, but broader macroeconomic concerns are growing. We believe distillers are better positioned to manage cost headwinds and remain structurally advantaged. “says the bank in a research note. That makes him “increasingly positive on brewers and increasingly cautious on spirits,” Deutsche said. ([email protected])

London Stock Exchange Group’s Russian attrition could stay in 1H

07:32 GMT – The London Stock Exchange Group showed a solid set of results, but Russian revenue attrition could persist for some time, Citi analysts said in a research note. LSEG estimates the impact of the war in Ukraine at around £60 million in 2022, mainly due to a decline in the value of annual subscriptions in its data and analytics business. US banking analysts expect the worst of the attrition to occur by the end of June, then the annual value of subscriptions should start to recover at 2H. Citi has a buy rating on the stock. The shares are down 1.8% at 7,930.0 pence. ([email protected])

WPP undervalued amid efficiency drive

07:29 GMT – WPP is undervalued by the market, says Citi after the ad giant released a first-quarter business update that included organic growth above expectations and an update to guidance for the whole of the year. The company’s move to further integrate and simplify branches – with a focus on the media space – should lead to a more integrated and efficient service offering, according to the U.S. bank. Citi has a buy rating on the stock and is raising its price target to 1,500 pence from 1,400 pence previously. The shares are trading up 0.4% at 994 pence. ([email protected])

Glaxo gets short-lived boost from Covid-19 sales

0722 GMT – The reason GlaxoSmithKline got a big boost in sales in the first quarter is the same reason the boost will be short-lived: the changing form of the coronavirus that causes Covid-19. Glaxo’s Covid-19 antibody treatment, Xevudy, was for a short time the only licensed therapy shown to be effective against the Omicron BA.1 variant, which caused a huge spike in cases over the winter and rendered its two main competitors ineffective. Glaxo quickly increased supply as governments around the world scrambled to secure doses, and the treatment brought in £1.3 billion, or $1.6 billion, for the company in the first quarter. . But that demand fell precipitously in the face of the BA.2 variant, which rendered Xevudy ineffective and is now dominant in many parts of the world. However, changing fortunes do not impact Glaxo’s outlook for the full year: the company is excluding Covid-19 products from its guidance due to the unpredictability of the pandemic. ([email protected]; @deniseroland)

Fresnillo 1Q silver production will appeal to investors

(MORE TO BE FOLLOWED) Dow Jones Newswires

April 27, 2022 04:18 ET (08:18 GMT)

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