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UK stocks rise on boost from consumer firms, miners

Mon, 23rd Jan 2023 17:05

Dignity jumps on sweetened buyout

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Fuller Smith & Turner falls on dour forecast

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FTSE 100 up 0.3%, FTSE 250 adds 0.5%

Jan 23 (Reuters) -

UK's main stock indexes closed higher on Monday, buoyed by consumer firms and miners, while investors awaited domestic and U.S economic data due this week to gauge the likelihood of a recession.

The blue-chip FTSE 100 closed up 0.3% to 7792.5, after posting its first weekly loss of the year in the previous session on worries about a recession and hawkish comments from central bank policymakers. The index last week came close to its record high of 7,903.5.

Consumer staples firms such as Diageo Plc and Ocado Group rose between 0.3% and 4%, while base metal miners gained 0.6% as copper prices ticked up.

Focus this week will be on GDP and inflation data out of the United States as well as business activity data from the UK.

"These will offer insight into two key and related factors which are grabbing the market's attention right now," AJ Bell investment director Russ Mould said.

"First, will the U.S. avoid a deep recession and second, will inflation ease sufficiently to allow the Federal Reserve to ease up on interest rates before it has inflicted too much pain on businesses and consumers?"

The FTSE 250 closed the session 0.5% higher.

Among single stocks, Dignity Plc climbed 8.2%, after the funeral services provider agreed to a sweetened 281-million-pound ($349 million) takeover by a consortium backed by investment firms SPWOne V Ltd, Castelnau Group and Phoenix Asset Management Partners.

National Express Group was up 1.0% after jumping as much as 5.2% earlier in the day after the transport firm said its German rail transport business had won a 1-billion-euro ($1.09 billion) contract to operate two lines of the Rhein-Ruhr-Express in Germany until 2033.

Fuller Smith & Turner fell 1.6% as the pub group forecast full-year earnings would come in below market expectations as several tube and train strikes affected their sales. (Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Savio D'Souza, Dhanya Ann Thoppil and Andrew Heavens)

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26 Apr 2022 07:20

National Express Q1 revenues back at 2019 levels

(Sharecast News) - Coach operator National Express said on Tuesday that first-quarter group revenues were back to 2019 levels, with the group actually trading ahead of the same time two years earlier during March.

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25 Apr 2022 10:49

Berenberg lowers target price on National Express

(Sharecast News) - Analysts at Berenberg lowered their target price on coach operator National Express from 340.0p to 300.0p on Monday after adjusting numbers on the stock now that the dust has settled on the potential acquisition of Stagecoach and the subsequent counterbid from DWS.

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22 Apr 2022 16:03

UK earnings, trading statements calendar - next 7 days

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20 Apr 2022 11:52

IN BRIEF: DWS fund has 28% acceptances for Stagecoach takeover offer

Stagecoach Group PLC - Perth, Scotland-based transport provider - Pan-European Infrastructure III SCSp, an infrastructure fund managed by DWS Infrastructure, says it has acceptances for its takeover offer representing 27.5% of Stagecoach shares. Of these, shares it has purchased represent a 17% stake, while offer acceptances from other shareholders represent a 10.5% stake. Last month, the Stagecoach board accepted DWS's GBP594.9 million cash offer, switching its support from an all-share merger with UK peer National Express Group PLC. The DWS offer of 105 pence per Stagecoach share remains open until May 21. It has a 75% acceptance condition, though this could be lowered.

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19 Apr 2022 16:02

UK earnings, trading statements calendar - next 7 days

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22 Mar 2022 09:45

LONDON BROKER RATINGS: Bank of America says buy Experian and Intertek

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

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17 Mar 2022 10:59

SMALL-CAP WINNERS & LOSERS: Go-Ahead up as fine less harsh than feared

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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17 Mar 2022 10:19

National Express believes Stagecoach merger superior to DWS cash offer

(Alliance News) - National Express Group PLC on Thursday said it believes its all-share combination with Stagecoach Group PLC remains the better choice after being spurned for a cash offer from DWS Infrastructure.

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17 Mar 2022 09:12

LONDON MARKET OPEN: Stocks rise after Fed rate hike; Ocado, M&S drop

(Alliance News) - Stock prices in London opened higher on Thursday after the US Federal Reserve raised interest rates for the first time since 2018, while Ocado sank after its online grocery joint venture with Marks & Spencer warned on inflationary pressures.

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17 Mar 2022 07:52

LONDON MARKET PRE-OPEN: Cineworld loss narrows as audiences return

(Alliance News) - Stock prices in London are seen opening higher on Thursday, tracking a rally in US and Asian equity markets, after the Federal Reserve, as expected, raised interest rates from historic lows.

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17 Mar 2022 07:51

National Express says Stagecoach offer creates 'superior value creation opportunity'

(Sharecast News) - Coach operator National Express said on Thursday that its proposed £1.9bn all-share combination with Stagecoach represented "a superior value creation opportunity" when compared to an offer from German infrastructure fund DWS.

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14 Mar 2022 09:49

LONDON BROKER RATINGS: Bernstein raises Unilever and cuts Reckitt

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

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14 Mar 2022 08:39

Liberum slashes National Express price target

(Sharecast News) - Liberum slashed its price target on National Express on Monday to remove upside from the Stagecoach deal, which has fallen through.

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10 Mar 2022 18:00

FTSE 100 weighed down by banks and oil firms; Rio Tinto slumps

March 10 (Reuters) - London's FTSE 100 fell on Thursday with heavyweight financial and oil shares leading declines, along with miner Rio Tinto after it severed all ties with Russian businesses and also traded ex-dividend.

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10 Mar 2022 11:01

National Express happy to ride solo but Stagecoach remains on radar

March 10 (Reuters) - National Express does not necessarily need to buy rival Stagecoach to boost revenue and profit, although it is still considering its options after it was outbid by a new suitor this week, the transport company said on Thursday.

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