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Name Symbol Market Type
Vodafone Group PLC NASDAQ:VOD NASDAQ Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.11 -0.74% 14.73 14.65 15.00 14.74 14.61 14.68 3,581,332 22:18:59

FTSE 100 Closes Up 0.6% After Etisalat Took 9.8% Vodafone Stake, Good Resources Performance

16/05/2022 5:40pm

Dow Jones News

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The FTSE 100 closed up 0.6% on Monday after basic resources performed well despite weakness in commodity prices and on news that Abu Dhabi's Etisalat had bought a 9.8% stake U.K. telecoms group Vodafone. While Etisalat has said that it has no designs on getting a seat on the board, the move is likely to increase pressure on CEO Nick Read, Michael Hewson, chief market analyst at CMC Markets UK, says in a research note. Elsewhere, Ryanair said it expects to return to profitability in fiscal 2023 and warned of higher fares coming during the summer period.

Companies News: 

Emirates Telecommunications Buys $4 Bln Stake in Vodafone

Emirates Telecommunications Group Co. said Monday it has purchased a 9.8% stake in Vodafone Group PLC, worth around 3.26 billion pounds ($4.0 billion).


Greggs Backs Outlook as Year-to-Date Sales Rise 27%

Greggs PLC said Monday that its expectations for 2022 remain unchanged, after its like-for-like sales grew 27% in the first 19 weeks of the year.


Baring Private Equity Asia Fund Doesn't Plan to Make Offer for RWS Holdings

Baring Private Equity Asia Fund VIII Ltd. said Monday that it doesn't plan to make an offer for language and intellectual-property support-services provider RWS Holdings PLC.


Stelrad YTD Performance Topped Management Views

Stelrad Group PLC said Monday that its year-to-date performance was slightly above management's expectations, and that its outlook for the year remained unchanged.


Experian to Acquire 51% Stake in Brazilian Fintech MOVA for $7.9 Mln

Experian PLC said Monday that it has agreed to acquire a 51% stake in Brazilian fintech company MOVA Sociedade de Empréstimo entre Pessoas S.A. for a cash consideration of 40 million Brazilian reais ($7.9 million).


Ryanair Expects to Return to Profitability in FY 2023

Ryanair Holdings PLC said Monday that it expects to return to profitability in fiscal 2023 as it reported a consensus-beating narrowed net loss for fiscal 2022 on higher revenue, but cautioned that the recovery remains fragile.


Plus500 Expects 2022 Revenue, Ebitda to Beat Market Views

Plus500 Ltd. said on Monday that it expects revenue and earnings before interest, taxes, depreciation and amortization for 2022 to be significantly above current market expectations, driven by positive market conditions.


Home REIT Targets GBP150 Mln in Share Placing to Invest in Housing Homeless

Home REIT PLC said Monday that it will hold a share placing to raise around 150 million pounds ($184.0 million), and that the funds will be used to further invest in accommodation for homeless people in the U.K.


Sutton Harbour Says Performance Continues to Make a Strong Recovery

Sutton Harbour Group PLC said Monday that its performance has continued to make a strong recovery, and that the value of its portfolio excluding development sites has risen.


Greencoat UK Wind to Buy 12.5% Stake in Hornsea 1 Offshore Wind Farm for GBP400 Mln

Greencoat UK Wind PLC said Monday that it has agreed to acquire a 12.5% stake in Hornsea 1, the world's largest offshore wind farm, from Global Infrastructure Partners for 400 million pounds ($490.6 million).


B90 Raises GBP731,000 in Share Subscription; Names Current Chairman as Executive

B90 Holdings PLC said Monday that it has raised 731,000 pounds ($896,498) in a share subscription, and named current Nonexecutive Chairman Karim Peer as executive chairman with immediate effect.


Nostra Terra Says Fouke 2 Oil Well Production Is Higher Than Expected

Nostra Terra Oil & Gas Co. said Monday that its 32.5%-owned Fouke 2 well in Texas has been brought to production, and flow rates are greatly exceeding internal expectations.


RWS Shares Dive After Baring Private Equity Asia Fund Drops Takeover Plan

Shares of RWS Holdings PLC fell as much as 25% in early trade Monday after Baring Private Equity Asia Fund VIII Ltd. said it doesn't plan to make an offer for the language and intellectual-property support-services provider.


Metals Exploration Proposes Capital Reorganization

Metals Exploration PLC on Monday proposed a capital reorganization to give it the flexibility to fundraise through an issue of shares in the future at a price exceeding its nominal value.

Market Talk: 

Lowered War Losses Could Bring a Positive Outlook to Insurers

0845 GMT - Reported claims related to the war in Ukraine have so far been limited, which could lead to lower risk of capitalization buffer in the U.K. insurance sector, analysts from RBC Capital Markets say in a research note. The insurance industry estimates a loss from the war in the $10 billion to $15 billion range, but so far total reported war losses have reached $1.3 billion, the analysts say. The sector is set to benefit from a higher interest base rate as it remains above loss and cost trends, although RBC analysts say that some margins could be used to offset inflation risks. (


Contact: London NewsPlus;


(END) Dow Jones Newswires

May 16, 2022 12:25 ET (16:25 GMT)

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

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