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Share Price Information for Airtel Africa (AAF)

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Share Price: 118.60
Bid: 118.90
Ask: 119.10
Change: 2.70 (2.33%)
Spread: 0.20 (0.168%)
Open: 116.40
High: 119.10
Low: 115.70
Prev. Close: 115.90
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LONDON MARKET CLOSE: London gets boost thanks to rate cut hopes

Mon, 20th May 2024 16:52

(Alliance News) - Stock prices in London closed higher on Monday, with investors optimistic that interest rate cuts might be around the corner.

The FTSE 100 index closed up 3.94 points at 8,424.20. The FTSE 250 ended up 123.43 points, 0.6%, at 20,873.33, and the AIM All-Share closed up 15.92 points, 2.0%, at 809.94.

The Cboe UK 100 ended up 0.1% at 840.87, the Cboe UK 250 closed up 0.6% at 18,250.48, and the Cboe Small Companies ended up 0.8% at 16,532.02.

In European equities on Monday, the CAC 40 in Paris ended up 0.4%, while the DAX 40 in Frankfurt ended up 0.3%.

Investors this week are eyeing Wednesday's inflation reading for the UK. It is expected to show that the rate of consumer price inflation moderated markedly to 2.1% in April, from 3.2% in March, according to FXStreet cited consensus.

If the reading comes in line with expectations, hopes for an interest rate cut from the Bank of England will climb.

Last week there was some good news from the US in terms of cooling inflation.

Swissquote Bank analyst Ipek Ozkardeskaya commented: "Equity bulls around the globe celebrated in style the softer-than-expected US CPI data last week. The global equity rally was further juiced by the expectation that a softer inflation in the US would not only allow the Federal Reserve to start cutting the rates this year, but also allow the other major central banks, like the European Central Bank and the Bank of England, to carry on with their plans to cut their own rates and – maybe – cut more than people think they could."

Hopes of an interest rate cut have prompted the price of gold higher, with the precious metal hitting a record high above USD2,450 an ounce earlier Monday.

Gold was quoted at USD2,423.50 an ounce at the London equities close Monday, up against USD2,407.63 at the close on Friday.

Higher gold prices pushed gold miner Fresnillo up 4.0% to the top of the FTSE 100 index.

The pound was quoted at USD1.2702 at the London equities close Monday, higher compared to USD1.2696 at the close on Friday. The euro stood at USD1.0862 at the European equities close Monday, lower against USD1.0866 at the same time on Friday. Against the yen, the dollar was trading at JPY156.14, higher compared to JPY155.53 late Friday.

In the FTSE 100, Airtel Africa rose 2.2%.

The Africa-focused telecommunications firm confirmed that its subsidiary Bharti Airtel International (Netherlands) BV has fully repaid a USD550 million bond in 5.35% guaranteed senior notes maturing on Monday.

In the FTSE 250 index, Kainos rose 17%.

The London-based IT service company said in the year ended March 31, statutory pretax profit rose 19% to GBP64.8 million from GBP54.3 million the year prior. Revenue increased 2.0% to GBP382.4 million from GBP374.8 million.

Kainos declared a final dividend of 19.1 pence per share, up 19% from 16.1p. Therefore, the total dividend paid for the year stands at 27.3p, up 14% from 23.9p.

Chief Executive Officer Russell Sloan commented: "Our latest results, record our 14th consecutive year of growth with disciplined execution in the current macro-economic climate.

On London's AIM, ValiRx shot up 23%.

ValiRx noted that the peptide nanoparticle formation Cytolytix received a Knowledge Transfer Voucher grant in conjunction with The Open University. Cytolytix Ltd is a partially-owned ValiRx subsidiary established to progress CLX001.

The life sciences company focused on early-stage cancer therapeutics and women's health highlighted that the assessment of formulation options for the triple negative breast cancer project CLX001 has progressed during the first quarter of 2024.

On the other hand, Haydale Graphene Industries closed down 11%.

The Carmarthenshire, Wales-based technology solutions company warned sales and earnings would miss City forecasts as an upturn in orders in the US was taking longer than hoped to materialise.

In a trading update for the year ending June, Haydale said it expects full-year sales of GBP4.7 million behind current market forecasts of GBP5.8 million. This would still be above last year's GBP4.3 million, Haydale said.

Adjusted earnings before interest, tax, depreciation and amortisation is expected to only be "marginally behind" market expectations, at a GBP3.2 million compared to forecasts for a GBP3.0 million loss.

Stocks in New York were higher at the London equities close, with the DJIA up 0.2%, the S&P 500 index up 0.4%, and the Nasdaq Composite up 0.7%.

Brent oil was quoted at USD83.65 a barrel at the London equities close Monday, up from USD83.61 late Friday.

In Tuesday's UK corporate calendar, there is a trading statement from Kingfisher, as well as Smiths Group.

The economic calendar for Tuesday has current account and trade balance data from the eurozone. There is also a PPI reading from Germany.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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13 Jun 2024 16:15

UK dividends calendar - next 7 days

Friday 14 June 
AEW UK REIT PLCdividend payment date
Aptitude Software Group PLCdividend payment date
Aquila European Renewables PLCdividend payment date
Burford Capital Ltddividend payment date
FRP Advisory Group PLCdividend payment date
James Halstead PLCdividend payment date
Midwich Group PLCdividend payment date
Mincon Group PLCdividend payment date
Ocean Wilsons Holdings Ltddividend payment date
Pershing Square Holdings Ltddividend payment date
Petershill Partners PLCdividend payment date
PetroTal Corpdividend payment date
Seplat Energy PLCdividend payment date
Town Centre Securities PLCdividend payment date
Town Centre Securities PLCspecial dividend payment date
Monday 17 June 
Churchill China PLCdividend payment date
Inchcape PLCdividend payment date
Princess Private Equity Holding Ltddividend payment date
Tuesday 18 June 
no events scheduled 
Wednesday 19 June 
BlackRock Greater Europe Investment Trust PLCdividend payment date
Centamin PLCdividend payment date
Fintel PLCdividend payment date
Henderson Eurotrust PLCdividend payment date
MP Evans Group PLCdividend payment date
Thursday 20 June 
3i Group PLCex-dividend payment date
Airtel Africa PLCex-dividend payment date
Animalcare Group PLCex-dividend payment date
Arbuthnot Banking Group PLCspecial dividend payment date
Aurora Investment Trust PLCdividend payment date
AVI Global Trust PLCex-dividend payment date
Baillie Gifford China Growth Trust PLCex-dividend payment date
Barings Emerging EMEA Opportunities PLCex-dividend payment date
British Land Co PLCex-dividend payment date
Castings PLCex-dividend payment date
Diverse Income Trust PLCex-dividend payment date
Experian PLCex-dividend payment date
Fidelity China Special Situations PLCex-dividend payment date
Fidelity Special Values PLCdividend payment date
Flowtech Fluidpower PLCex-dividend payment date
Gamma Communications PLCdividend payment date
GB Group PLCex-dividend payment date
Gooch & Housego PLCex-dividend payment date
Henderson Opportunities Trust PLCdividend payment date
Inspired PLCex-dividend payment date
Maven Income & Growth VCT PLCex-dividend payment date
Mercantile Investment Trust PLCex-dividend payment date
Mitie Group PLCex-dividend payment date
Patria Private Equity Trust PLCex-dividend payment date
Persimmon PLCex-dividend payment date
RWS Holdings PLCex-dividend payment date
S&U PLCex-dividend payment date
Science Group PLCex-dividend payment date
Scottish American Investment Co PLCdividend payment date
Tate & Lyle PLCex-dividend payment date
Templeton Emerging Markets Investment Trust PLCex-dividend payment date
Touchstar PLCex-dividend payment date
United Utilities Group PLCex-dividend payment date
Vianet Group PLCex-dividend payment date
VP PLCex-dividend payment date
Wynnstay Properties PLCex-dividend payment date
Yu Group PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com 
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved. 

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20 May 2024 14:25

IN BRIEF: Airtel Africa confirms repayment of Netherlands bond

Airtel Africa PLC - Africa-focused telecommunications firm - Confirms that subsidiary Bharti Airtel International (Netherlands) BV has fully repaid a USD550 million bond in 5.35% guaranteed senior notes maturing on Monday. Says repayment was exclusively through holding company (HoldCo) cash reserves, "and is a continuation of its strategy to reduce external foreign currency debt". Airtel says it had USD2.72 billion of external debt at HoldCo "which resulted in significant exposure to currency fluctuations and the reliance on upstreaming funds to cover both interest costs and the principal repayment".

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20 May 2024 09:47

LONDON BROKER RATINGS: Deutsche likes Trainline and Baltic Classifieds

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

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15 May 2024 09:22

LONDON BROKER RATINGS: JPMorgan puts B&M on 'negative catalyst watch'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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10 May 2024 09:52

LONDON BROKER RATINGS: UBS raises Trainline, cuts Kingspan

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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10 May 2024 07:56

LONDON BRIEFING: FTSE 100 called up on BoE hold and UK economic growth

(Alliance News) - Stocks in London are set to open up on Friday after a dovish Bank of England interest rates hold on Thursday.

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9 May 2024 15:21

London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

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9 May 2024 10:02

Airtel Africa swings to loss as revenue falls on currency devaluation

(Alliance News) - Airtel Africa PLC on Thursday reported a decline in revenue, on a foreign exchange hit, though the Africa-focused telecommunications firm said it has recently "reduced the risks" from currency devaluation.

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9 May 2024 07:19

FX movements wipe $1bn off Airtel's top line

(Sharecast News) - Africa-focused telecoms group Airtel was hit hard by a drop in the Nigerian naira in the year to 31 March, with a $549m negative FX headwind pushing it into the red on a pre-tax basis and taking more than $1bn off the top line.

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3 May 2024 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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3 Apr 2024 16:49

IN BRIEF: Airtel Africa Director Mittal buys shares for GBP1.2 million

Airtel Africa PLC - Africa-focused telecommunications firm - Director Shravin Bharti Mittal buys shares via Indian Continent Investment Ltd. Buys 1.1 million shares at around GBP1.06 each on Thursday for a total of GBP1.2 million.

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3 Apr 2024 16:46

Director dealings: Airtel Africa non-exec keeps buying shares

(Sharecast News) - Indian Continent Investment, a firm linked to Airtel Africa non-executive director Shravin Bharti Mittal, added to its stake in the telecommunications group ahead of the Easter break.

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27 Mar 2024 15:09

DIRECTOR DEALINGS: Prudential Chair Shriti Vadera buys 50,000 shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Wednesday and not separately reported by Alliance News:

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26 Mar 2024 13:50

DIRECTOR DEALINGS: Coca-Cola HBC CEO sells GBP375,000 in shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and not separately reported by Alliance News:

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