FTSE 100 Falls on Weaker Oil, Mining Stocks

FTSE 100 Falls as Oil, Mining Stocks Drop

0910 GMT - The FTSE 100 drops 0.2%, or 12 points to 7206 as losses for oil and mining stocks weigh on London's blue-chip index. BP and Royal Dutch Shell are among the biggest fallers as the price of a barrel of Brent crude drops 0.4% to $73.38, while miners lose ground as base and precious-metal prices fall. Markets in China and Hong Kong fell after downbeat economic data. The Bank of England is expected to hold off raising interest rates Thursday despite CPI inflation reaching a 10-year high of 5.1%, IG says. "Looking ahead, watch out for the latest Canadian CPI, US retail sales, crude inventories, and the FOMC rate decision," IG analysts say. ([e-mail])

 
Companies News: 

Cineworld Shares Fall After Losing Lawsuit Against Cineplex

Shares in Cineworld Group PLC fell in early trade Wednesday after the Ontario Superior Court of Justice ruled in favor of rival Cineplex over the cancellation of a takeover deal in June 2020.

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Bunzl Sees High Single-Digit Growth in 2021 Underlying Revenue From 2019

Bunzl PLC said Wednesday that it expects 2021 underlying revenue to show high single-digit growth when compared to 2019, and that it expects 2022 revenue to be slightly higher than in 2021 at constant exchange rates.

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IAG in Advanced Talks to Cancel Air Europa Purchase Agreement

International Consolidated Airlines Group SA said Wednesday that discussions to terminate the agreement to buy Spanish airline Air Europa from Globalia Corporacion Empresarial were at an advanced stage.

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Hollywood Bowl FY 2021 Pretax Profit Dropped; Confident About FY 2022 Growth

Hollywood Bowl Group PLC on Wednesday reported a more-than-halved pretax profit for fiscal 2021, and said that it is confident about its performance for fiscal 2022.

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Currys 1H Pretax Profit Rose; Backs FY 2022 Guidance Despite Soft Holiday Run-Up

Currys PLC on Wednesday reported a 6.7% rise in pretax profit for the first half of fiscal 2022, and said it remains on track to meet adjusted-pretax-profit expectations for the year, despite softer demand in the run-up to Christmas.

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Midwich Group Raises 2021 Adjusted Pretax Profit Expectations

Midwich Group PLC said Wednesday that it expects full-year adjusted pretax profit to be materially ahead of its previous expectations despite continuing product shortages.

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Character Group FY 2021 Pretax Profit Rose

Character Group PLC said on Wednesday that pretax profit for fiscal 2021 rose as revenue increased, and that it was on target to meet current market expectations despite pressure on margins stemming from high freight rates and a rise in materials and labor costs.

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MusicMagpie Says FY 2021 Performance Was in Line With Expectations

MusicMagpie PLC said Wednesday that its financial performance in fiscal 2021 was in line with management's expectations.

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Avacta Shares Rise on Covid-19 Antigen Test Detecting Omicron Variant

Shares in Avacta Group PLC rose on Wednesday after the company said that its Covid-19 antigen lateral flow test detects the Omicron variant.

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M&C Saatchi Sees FY 2021 Operating Profit Ahead of Expectations

M&C Saatchi PLC said Wednesday that it expects its operating profit for the full year 2021 to be materially ahead of expectations, boosted by stronger demand from its existing clients.

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Sareum Holdings Shares Rise After European Patent Notice

Shares in Sareum Holdings PLC rose on Wednesday after the company said that the European Patent Office has issued an 'Intention to Grant' notice for a patent in respect of an invention associated with its proprietary SDC-1802 TYK2/JAK1 Kinase inhibitor program.

 
Market Talk: 

IAG's Decision to End Air Europa Acquisition Was No Surprise

0826 GMT - IAG's confirmation of it being in discussions to terminate its acquisition of Air Europa was widely expected, Citi says. The airline group--which houses British Airways and Iberia among others--faced regulatory hurdles posed by the European Commission as well as the U.K.'s Competition and Markets Authority, the U.S. bank says. Citi has a buy rating on the stock and a GBP2.50 target price. Shares are down 0.2% at 132.32 pence. ([e-mail])

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [e-mail]

(END) Dow Jones Newswires

December 15, 2021 04:27 ET (09:27 GMT)

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