FTSE Closes Up 0.5% Ahead of Easter Break

The FTSE 100 closed up 0.5% on Thursday, with International Consolidated Airlines Group and consumer discretionary companies, such as Holiday Inn owner InterContinental Hotels Group and Premier Inn owner Whitbread, having had a slightly better day ahead of the Easter weekend, CMC Markets UK Chief Market Analyst Michael Hewson says in a research note. IAG finished the day up 3.3%, IHG up 3.7% and Whitbread rose 3.2%. Optimism for a strong summer season and the prospect of a warm holiday weekend were boosting the stocks, he says. One notable takeaway from the week as a whole is how investors seem to be paying more attention to how companies view the economic outlook rather than performance over the last 12 months, Hewson adds.

 
Companies News: 

Ashmore Assets Under Management Fell 10% on Quarter in 3Q

Ashmore Group PLC said Thursday that its assets under management fell 10% over the third quarter of the fiscal year.

---

Ninety One 4Q Assets Under Management Increased Significantly

Ninety One PLC said Thursday that assets under management for the fourth quarter of fiscal 2022 increased significantly from a year earlier.

---

National Grid Expects 2022 Earnings to Beat Prior Guidance

National Grid PLC said Thursday that it anticipates that fiscal 2022 underlying earnings per share will be modestly higher than previous guidance, and expects to complete the sale of its Rhode Island unit in the first quarter.

---

Halma Acquires Underwater Robot Manufacturer Deep Trekker for C$60 Mln

Halma PLC said Thursday that it has acquired underwater robots manufacturer Deep Trekker Inc. for 60 million Canadian dollars ($47.8 million) on a cash and debt free basis.

---

Brooks Macdonald's 3Q Funds Under Management Fell on Weaker Global Markets

Brooks Macdonald Group PLC said Thursday that funds under management fell over the third quarter of fiscal 2022, dragged by the war in Ukraine.

---

Smiths Group CFO John Shipsey to Step Down; Clare Scherrer Named

Smiths Group PLC said Thursday that Chief Financial Officer John Shipsey is stepping down from the role by mutual agreement on April 29, and that it has appointed Clare Scherrer as his replacement.

---

Mediclinic International Expects to Report FY 2022 Revenue Rise

Mediclinic International PLC said on Thursday that it expects to report a rise in revenue for fiscal 2022, and that it sees positive momentum in client activity driving revenue growth and margins in the year ahead.

---

Wizz Air Expects Widened Net Loss for FY 2022

Wizz Air Holdings PLC said Thursday that it expects to report a widened net loss for fiscal 2022, and that it is starting to see a recovery taking shape as it moves closer to the summer season.

---

Dunelm 3Q Sales Rose on Successful Winter Sale

Dunelm Group PLC said Thursday that total sales increased in the third quarter of fiscal 2022, adding that customers responded well to its winter sale despite a hit in the final three weeks of the quarter due to the Omicron wave of the coronavirus.

---

Hays 3Q Net Fees Grew on Like-For-Like Basis; Backs Full-Year Operating Profit Guidance

Hays PLC said Thursday that net fees rose 32% on a like-for-like basis in the third quarter of fiscal 2022 to a record high, and reiterated its full-year operating profit guidance.

---

Polar Capital FY 2022 Assets Under Management Rose; Outlook Positive

Polar Capital Holdings PLC said Thursday that assets under management increased in fiscal 2022 because of a combination of outperformance, net inflows and market improvement.

---

React Group Plans GBP5.5 Mln Share Placing to Support Acquisitions

React Group PLC said Thursday it intends to raise 5.5 million pounds ($7.2 million) in a share placing, to support its acquisition growth strategy and for general working capital.

---

finnCap to Report Rise in FY 2022 Revenue, Pretax Profit in Line with Views

finnCap Group PLC said Thursday that revenue for fiscal 2022 is expected to have increased, with adjusted pretax profit in line with expectations.

---

Norcros Expects to Post Higher FY 2022 Revenue; Gets GBP130 Mln Loan

Norcros PLC said Thursday that it expects to report a rise in fiscal 2022 revenue, and that it has secured a 130 million-pound ($170.5 million) loan.

---

Renold Says FY 2022 Revenue Rose on Strong Order Intake Momentum

Renold PLC said Thursday that revenue for fiscal 2022 increased, as the momentum in order intake and turnover of the first half continued into the second half of the financial year.

---

Oilex Shares Fall on Need for Extra Funds to Meet Higher-Than-Expected Costs at Cambay Field

Shares in Oilex Ltd. fell Thursday after the company said it intends to raise additional funds next month as a result of higher-than-expected re-fracking costs and a delay to the start up of gas production at the Cambay gas field in India.

 
Market Talk: 

Deliveroo's 2022 Guidance Seen Dependent on Grocery Success

0914 GMT - Deliveroo's 2022 guidance looks very bullish and predicated on the success of the roll out of its grocery offering, Shore Capital says. The London-listed food-delivery company forecasts gross transaction value growth in a range of 15%-25% for 2022, and the U.K. investment group says this comes with downside risk considering food price inflation and the fact that like-for-like basket prices through delivery apps tend to come with higher prices before delivery fees. Deliveroo's 1Q GTV growth was strong against a tough year-earlier comparator, Shore Capital says, noting that the new grocery rollout did the heavy lifting. Shore cautions on a normalization in appetite for restaurant delivery, referencing Tortilla's recent earnings. Deliveroo shares are up 2.4% at 109.00 pence. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

April 14, 2022 12:13 ET (16:13 GMT)

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