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  -6.18 -0.09% 6,991.09 7,022.41 6,960.36 6,997.27 0 16:35:30

FTSE 100 Closes Down 2% as Focus Remains on Inflation

30/06/2022 6:20pm

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The FTSE 100 closed down 2% on Thursday as focus continues to be on inflation, with the U.S. releasing its core personal consumption and expenditure index. House builders in the U.K. endured a tough day as Persimmon, Barratt Developments and Taylor Wimpey all closed in the red after industry data showed prices rising again in June. "Property prices have gone up faster than wages, creating an affordability squeeze, while mortgage rates have risen to levels we haven't seen in a while," Interactive Investor analyst Myron Jobson says in a note. Croda finished the day as the FTSE 100's biggest gainer, up 1.9%, followed by Bunzl, which ended up 1.8%.

Companies News: 

Smiths Secures Uninsured Pension Liabilities via GBP640 Mln Deal With Rothesay Life

Smiths Group PLC said Thursday that it has completed a deal to secure its remaining uninsured pension liabilities through a 640 million pound ($775.7 million) bulk annuity buy-in with Rothesay Life PLC, a U.K. pensions specialist.


Frasers Group Buys 28.7% Holding in MySale for Undisclosed Sum

Frasers Group PLC said Thursday that it has bought a 28.7% shareholding in Australian-based fashion marketplace MySale PLC.


WPP to Buy Australian Marketing Technology Services Agency

WPP PLC said Thursday that it has agreed to acquire Bower House Digital, a marketing technology services agency located in Australia, for an undisclosed sum.


Bunzl Upgrades 2022 Views on Organic Revenue Growth, Acquisitions

Bunzl PLC said Thursday that it has upgraded its guidance for the full year and currently expects robust revenue growth and operating margins to be slightly higher than historical levels, driven by acquisitions and organic revenue growth.


IAG Converts 14 A320neo Family Options Into Firm Orders

British Airways owner International Consolidated Airlines Group SA said Thursday that it has converted 14 A320neo family aircraft options into firm orders for 11 A320neos and three A321neos.


M&C Saatchi Sees 2022 Profit in Line With Guidance

M&C Saatchi PLC said Thursday that its headline profit before tax for 2022 is in line with internal expectations of around 31 million pounds ($37.6 million).


MyHealthChecked Sees Better-Than-Expected 1H Performance on Strong Momentum

MyHealthChecked PLC said Thursday that it has started 2022 in a strong position in terms of revenue, customer service, and delivery after positive momentum in 2021.


Virgin Money to Buy Back up to GBP75 Mln in Shares

Virgin Money UK PLC said Thursday that it has launched a buyback program to repurchase up to 75 million pounds ($90.9 million) of its shares.


GB Group Shareholder AG Acuant Sells 5 Mln Shares at 400 Pence Each

Numis Securities Ltd. said Thursday that it has now sold 5 million ordinary shares of identity-data-intelligence specialist GB Group PLC at 400 pence (484.84 U.S. cents) each.


Inland Homes 1H Pretax Loss Widened on Contract Costs, Reduced Net Debt

Inland Homes PLC said on Thursday that its pretax loss widened on higher costs, but it reduced net debt.


Hunting Expects Ebitda to Rise in 2H After First-Half Performance Met Expectations

Hunting PLC said Thursday that its first-half performance was in line with expectations and forecast a return to bottom-line profitability for the full-year.


Civitas Social Housing FY 2022 Pretax Profit, Revenue Rose

Civitas Social Housing PLC on Thursday reported a rise in pretax profit for fiscal 2022 and said that its projects will deliver further benefit to its shareholders


Orcadian Energy to Raise GBP1 Mln Via Share Issue

Orcadian Energy PLC said Thursday that it intends to raise around 1 million pounds ($1.2 million) via equity issue to fund the development of its Pilot oil field in the U.K. North Sea.


Unbound Group to Launch Multi-Brand Platform, Hotter Shoes Performing in Line

Unbound Group PLC said Thursday that it will launch a multi-brand platform, and that it expects to benefit from higher subscribers engagement along with increased cross and up-sell opportunities.


Likewise Says Sales More Than Doubled in 1H

Likewise Group PLC said Thursday that sales more than doubled in the first half of 2022 when compared with the same period a year earlier.


Verditek Shares Drop as it Raises GBP1.5 Mln Via Subscription of Discounted Shares

Shares in Verditek PLC on Thursday fell after the company said it has raised 1.5 million pounds ($1.8 million) via a subscription of 101.3 million shares at a discounted price per share.


7Digital Posts Widened 2021 Loss; Shares Fall

Shares in 7Digital Group PLC fell Thursday morning after the digital music solutions company reported a widened loss for 2021 and said that it has taken a loan from its director and shareholder Tamir Koch.


REACT Swung to 1H Loss on Higher Costs, Sees 2H Sales Pipeline Growth Steady

REACT Group PLC said Thursday that it swung to net loss in the first six months of fiscal 2022 due to higher costs following the acquisition of peer Fidelis Contract Services, and despite its revenue more than doubling after acquiring the business.


Cornerstone Shares Fall After 2021 Widened Pretax Loss, Non-Exec Chairman Steps Down

Shares in Cornerstone FS PLC fell Thursday after the company reported a widened pretax loss for 2021 on large administrative expenses, and said that Nonexecutive Chairman Elliott Mannis is stepping down.


Shield Therapeutics Takes $10M Loan After Failing to Raise Equity; Shares Fall

Shares in Shield Therapeutics PLC fell Thursday after it said that it couldn't complete a $30 million equity financing, and reported a widened net loss for 2021.


Contact: London NewsPlus;

(END) Dow Jones Newswires

June 30, 2022 13:05 ET (17:05 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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