Sterling, Euro Could Rise But Gains May Be Limited 1048 GMT - Sterling and the euro are likely to strengthen in coming months as the economic outlook for the eurozone and U.K. improves, but any gains could prove limited, HSBC says. "Despite this bullish outlook for the months ahead, we flag some early warning signs that the good news may not persist beyond the summer," HSBC forex analysts say in a note. A slowing disinflationary impulse and the impact of prior monetary policy tightening could increase downside growth risks later this year, and there is already signs of this in weaker credit growth and credit demand, they say. HSBC expects EUR/USD to rise to 1.15 and GBP/USD to reach 1.30 this year. GBP/USD last trades at 1.2452 and EUR/USD is at 1.1044. (renae.dyer@wsj.com) COMPANIES NEWS: KEFI Gold & Copper Shares Rise on Financing Agreement for Ethiopia Project KEFI Gold & Copper PLC shares rose Thursday after the company said it signed an agreement for the financing of the Tulu Kapi gold project in Ethiopia. --- Curtis Banks Appoints Ross Allan Interim COO as Jane Ridgley Retires Curtis Banks Group PLC said Thursday that Ross Allan has been appointed interim chief operating officer effective May 1 as Jane Ridgley is stepping down from the role and retiring as director of all group companies. --- Synectics Sees Results More Second-Half Weighted After Slow Start, But 2023 Forecast Stands Synectics PLC said Thursday that although it anticipates 2023's results to be more heavily weighed toward to the second half than previously expected its forecasts for the year remain unchanged. --- International Personal Finance Sees 2023 Above Views After Rise in 1Q Customer Lending International Personal Finance PLC said Thursday that it sees full-year results ahead of its internal expectations after it posted a 15% on-year rise in customer lending in the first quarter. --- NextEnergy Solar Fund Plans to Divest 236MW UK Solar Assets Portfolio NextEnergy Solar Fund Ltd. said Thursday that it has launched a program to divest a 236 megawatt portfolio of U.K. solar assets in order to accelerate its growth with further opportunities. --- EnSilica Shares Rise on Guidance for FY 2023 Earnings to Beat Market Views EnSilica PLC shares rose Thursday after it said it expects fiscal 2023 earnings to significantly exceed market expectations, as it continued to perform well across the second half of the year. --- Byotrol Sees FY 2023 Meeting Market Views; Names Trevor Francis as Chairman Byotrol PLC said Thursday that it expects fiscal 2023 results to meet market expectations, and named Nonexecutive Director Trevor Francis as its new nonexecutive chairman. --- Trinity Exploration & Production Reports Solid 1Q Production -- Energy Comment Trinity Exploration & Production PLC on Thursday reported first quarter production that was broadly in line the earlier quarter due to continuing well optimization, drilling, workovers and recompletion activities. Here's what the London-listed Trinidad-focused oil company had to say: --- FTSE 100
Index Chart
From Apr 2023 to May 2023
X5 Retail 1Q Net Profit Rose on Increased Sales, Retail-Space Expansion
X5 Retail Group NV said Thursday that net profit rose in the first quarter supported by increased sales and retail-space expansion.
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4Global Expects to Report FY 2023 Revenue Rose on Strong Performance
4Global PLC said Thursday that it expects to report a 56% revenue rise for fiscal 2023 on a strong second half-year performance.
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Quixant Sees Good Start to 2023 With Strong Demand; Proposes Name Change to Nexteq
Quixant PLC said Thursday that it has made a good start to the new year, with strong demand across both its gaming and Densitron divisions, and proposed it change its name to Nexteq PLC.
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Gulf Keystone Targets Cost Reductions Following Iraq-Turkey Pipeline Shut-in
Gulf Keystone Petroleum Ltd. said Thursday that it is focused on preserving liquidity and is targeting cost reductions across the business, following the shut-in of the Iraq-Turkey pipeline on March 25.
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Graft Polymer Shares Fall on Widened 2022 Pretax Loss Due to Higher Costs
Shares in Graft Polymer (UK) PLC in fell after the company said that its 2022 pretax loss widened after booking higher costs, and that it was in a position to take on "larger orders, with higher margins, at a time when demand for polymer solutions is high."
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Dalata Sees 1Q Revenue-Per-Available-Room to Top Expectations
Dalata Hotel Group PLC said Thursday that it expects first-quarter revenue-per-available-room to exceed expectations, and that growth looks to continue during the year.
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Telecom Plus Sees FY 2023 Profit in Line With Views; Confirms Higher Dividend
Telecom Plus PLC said Thursday that it expects fiscal 2023 adjusted pretax profit to be in line with guidance, and confirmed its intention to increase its dividend payout.
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Yourgene Health FY 2023 Revenue Slipped But Beat Market Views
Yourgene Health PLC said Thursday that it expects to report fiscal 2023 revenue exceeding market expectations, though it will still fall on year, and guided for its adjusted loss to meet market views.
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Inspecs Group 2022 Pretax Loss Widened on Tough 2H
Inspecs Group PLC said Thursday that its pretax loss widened on a slowdown in the second half-year in its European markets, but that it sees a recovery in the markets near-term.
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Kelso Group 2022 Pretax Loss Widened on Higher Costs
Kelso Group Holdings PLC said Thursday that its 2022 pretax loss widened after booking higher costs related to the scoping of a potential acquisition, listed company fees and other operating costs.
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Engage XR Shares Rise After 1Q Revenue Growth
Shares in Engage XR Holdings PLC rose 11% on Thursday after the group said its first-quarter revenue grew 40% on-year.
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Taylor Maritime Investments 4Q Net Asset Value Rose; Declares Interim Dividend
Taylor Maritime Investments Ltd. said Thursday that its net asset value in the fourth quarter of fiscal 2023 rose on quarter and declared an interim dividend for the period.
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PPHE Hotel Group 1Q Revenue Doubled on UK, Netherlands Performance
PPHE Hotel Group Ltd. said Thursday that revenue grew significantly in the first quarter of 2023 due to strong performance in the U.K. and Netherlands, and that it remains on track to meet full-year market expectations.
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Hotel Chocolat Shares Fall as It Guides for FY 2023 Sales Below Market Views
Hotel Chocolat Group PLC shares fell Thursday after it said it expects fiscal 2023 sales to slightly miss market expectations and to breakeven on a pretax profit basis, as it navigates a transitional year.
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Driver Group Shares Rise After 1H Profits Increase
Driver Group PLC shares rose on Thursday after the group said that it expects underlying pretax profit for first half of fiscal 2023 to improve following a positive performance in the first quarter.
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Inchcape 1Q Revenue Rose 50%; Sees FY Results in Line
Inchcape PLC on Thursday said it sees full-year results in line with views as it posted a 50% on-year rise in its first-quarter revenue.
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Spectris Backs 2023 Views After 1Q Sales Grew
Spectris PLC said Thursday that 2023 has started strongly and backed its full-year targets.
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Naked Wines Expects In-Line Pretax Profit for FY 2023
Naked Wines PLC said Thursday that it expects to report pretax profit in line with consensus expectations for fiscal 2023, and that it confirmed its near-term outlook of modestly declining revenue.
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Kerry Group 1Q Revenue Rose on Strong Foodservice Growth
Kerry Group PLC said Thursday that revenue rose in the first quarter of 2023, and backed its full-year guidance.
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CT Automotive Shares Tumble on Discounted Fund Raising
Shares of CT Automotive Group PLC fell 20% on Thursday after the company said it plans to raise 7.6 million pounds ($9.5 million) via a discounted share placing and subscription and will use the money toward growth opportunities.
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Ibstock Early 2023 Earnings Beat Management Expectations Despite Subdued Demand
Ibstock PLC said Thursday that it has made a good start to 2023 with earnings slightly beating its expectations, despite subdued demand in both the residential new-build and the repair, maintenance and improvement markets.
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HSS Hire 2022 Pretax Profit Rose on Cost Control, Pricing
HSS Hire Group PLC said Thursday that pretax profit rose in 2022 on the back of higher prices and improved cost control.
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Capricorn Energy Appoints Randy Neely CEO; Launches $25 Mln Buyback Program
Capricorn Energy PLC said on Thursday that Randy Neely will join the company as chief executive officer on June 1, and that it was launching a share buyback program of at least $25 million.
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Lancashire Holdings 1Q Gross Premiums Rose 23%
Lancashire Holdings Ltd. on Thursday posted an increase in its first-quarter gross written premiums on growth in its property insurance and casualty reinsurance segments.
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DS Smith to Report FY 2023 Adjusted Earnings Decline
DS Smith PLC said Thursday that it expects to report profitability in line with expectations in the fiscal year ending April 30.
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J Sainsbury FY 2023 Profit Reached Top End of Views, Sees Challenging Year Ahead
J Sainsbury PLC said Thursday that underlying pretax profit for fiscal 2023 came in at the top-end of its guidance but warned that the year ahead is expected to remain challenging.
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RS Group Agrees to Buy Distrelec for EUR365 Mln
RS Group PLC said Thursday that it has agreed to acquire industrial and maintenance, repair and operations product distributor Distrelec B.V. for 365 million euros ($403 million) on a cash-free and debt-free basis.
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St. James's Place 1Q Funds Under Management Rose On Quarter But Missed Views
St. James's Place PLC on Thursday said that its funds under management rose over the first quarter of 2023 but came in short of market expectations.
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AstraZeneca 1Q Profit Rose, But Decline in Covid-19 Drug Sales Hurt Revenue
AstraZeneca PLC on Thursday reported a rise in profit for the first quarter, but said a decline in sales of its Covid-19 medicines hurt revenue.
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Unilever 1Q Turnover Beat Market Views, Upgrades Full-Year Sales Outlook
Unilever PLC said Thursday that first-quarter turnover rose ahead of market expectations, boosted by higher prices and improving volume trends, and upgraded its sales-growth target for the year.
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Taylor Wimpey Early 2023 Sales Rate Continues Recovery; Backs Guidance
Taylor Wimpey PLC said Thursday that its sales rate has continued to recover along with demand in 2023 to date, supported by good mortgage availability, and backed its 2023 guidance.
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Weir Group 1Q Orders Up 4%; Backs 2023 Guidance
Weir Group PLC said Thursday that orders in the first quarter rose 4% and backed its guidance for the year.
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Barclays Posts 1Q Beat, Backs 2023 Guidance
Barclays PLC on Thursday backed its guidance for 2023 as it reported first-quarter results ahead of expectations driven by income growth and double-digit returns.
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London Stock Exchange 1Q Total Income Rose on Contributions From All Divisions
London Stock Exchange Group PLC said Thursday that total income for the first quarter rose on an underlying basis, with all divisions contributing to growth.
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WPP Backs 2023 Guidance After 1Q Net Sales Rose 2.9%
WPP PLC on Thursday reported a 2.9% rise in like-for-like revenue less pass-through costs, or net sales, for the first quarter of the year and backed its full-year guidance.
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Schroders Names Richard Oldfield as New CFO to Replace Richard Keers
Schroders PLC said Thursday that it has appointed Richard Oldfield as new chief financial officer, with effect from Oct. 2.
MARKET TALK:
International Personal Finance Looks In Good Shape After 1Q Growth
1123 GMT - International Personal Finance posted strong growth across the board and looks in good shape, Peel Hunt says in a note after it reported first-quarter results. The credit company sees full-year results ahead of its internal expectations after posting a rise in its first-quarter customer lending. "IPF is in good shape and 1Q continues the recent track record of strong operational performance," analysts say, lifting their estimates as well as their target price on the buy-rated stock to 170 pence from 167 pence. Shares are up 1.25% at 97.2 pence and have gained 33% year-to-date. (elena.vardon@wsj.com)
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AstraZeneca Lung-Cancer Drug Trial Needs to Impress
1057 GMT - AstraZeneca shares rise 0.6% after the drug company reported better-than-expected first-quarter revenue and earnings per share. Still, earnings near-term take second place to pending headline data from a lung-cancer drug trial known as Tropion-Lung01, Citigroup says. The data needs to be robust given consensus expectations, though Citi remains optimistic, it says. "AstraZeneca's decision not to raise guidance despite the 12% core earnings-per-share beat reflects concerns over sustainability of China rebound and de-stocking of rare-disease drugs later in the year," Citi analysts say in a note. (philip.waller@wsj.com)
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Hotel Chocolat Shares Looks Cheap, Liberum Says
1044 GMT - Hotel Chocolat's fiscal 2023 performance might be worse than hoped, but the story is all about fiscal 2024 and beyond, Liberum says. The chocolatier has all the building blocks to deliver strong Ebitda margins from next year, and while there has been disruption to underlying performance as it carried out efficiency projects, the focus should be firmly on its ability to deliver against its strategy, Liberum analysts say in a research note. "[The current share price] has to be wrong for a business with cash on the balance sheet and a profit forecast of GBP30 million by fiscal 2025," the brokerage says. Liberum retains its buy rating and 300 pence price target. Shares are down 10% at 157.5 pence. (joseph.hoppe@wsj.com)
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(END) Dow Jones Newswires
April 27, 2023 07:50 ET (11:50 GMT)
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