Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
In company news, eyes will be on M&G shares at the open after Sky News reported Australian investment bank Macquarie Group Ltd is at the early stages of exploring a takeover bid of over 5 billion pounds ($6.00 billion) for British money manager
LONDON, March 2 (Reuters) - London Stock Exchange Group reported slightly stronger than expected full-year income for 2022 on Thursday, and hailed its integration of Refinitiv as a success as it announced plans to step up its ownership of the data analytics group.
LSEG reported total income, including recoveries, of 7.743 billion pounds ($9.28 billion) in preliminary results for 2022, just above analysts' consensus of 7.733 billion pounds. It reported a basic earnings per share of 141.8 pence and a dividend per share of 107 pence, both above analysts' forecasts.
Reuters news ,
In corporate news, Taylor Wimpey warned that completions were set to fall this year, the latest housebuilder to see higher mortgage costs and the cost-of-living crisis knock buyer confidence after a profit warning from Persimmon on Wednesday.
LONDON, March 2 (Reuters) - Haleon, the world's biggest standalone consumer health business, on Thursday forecast 4-6% organic revenue growth in 2023.
The London-listed company comprising health assets previously owned by GSK and Pfizer reported organic revenue growth of 9% last year.
01-Mar-23 RBC Capital Markets Outperform - 190.00 Reiteration
01-Mar-23 JP Morgan Cazenove Overweight - - Reiteration
01-Mar-23 Barclays Overweight - 200.00 Reiteration
28-Feb-23 Peel Hunt Limited Buy - 217.00 Reiteration
28-Feb-23 Jefferies Buy - 220.00 Reiteration
from Investors chronicle,
Analysts at broker Panmure Gordon were generally effusive about Man’s performance. The broker described Man as “continuing to retire its equity on the cheap, while the market frets over how to value performance fee”, which reflects the contradictions of its business model. Panmure values the company at an upgraded forward price/earnings ratio of 10. Given the volatility of its underlying revenues that looks about right. Hold.
Aston Martin rounded off 2022 with a stronger final quarter. In the year as a whole, the luxury carmaker's revenue rose 26% to GBP1.38 billion from GBP1.10 billion, but pretax loss widened to GBP495.0 million from GBP213.8 million. In the fourth quarter, revenue rose 46% to GBP524.3 million, and the firm swung to a pretax profit of GBP16.3 million from a GBP25.2 million loss. Aston Martin said it exited 2022 with "the strongest order book in many years". In 2023, it expects significant growth in profitability, driven by higher volumes and gross margin in both Core and Special vehicles. It also anticipates 2023 will be the "peak year" of capital expenditure, expecting to fork out GBP370 million for capex and research & development.
Consumer goods firm Reckitt Benckiser said net revenue grew 9.2% to GBP14.45 billion in 2022 from GBP13.23 billion in 2021. It swung to a pretax profit of GBP3.07 billion from a loss of GBP260 million. Like-for-like net revenue growth was 7.6%, with a decline in the Hygiene division offset by strong growth in Health and Nutrition. Reckitt raised its annual dividend by 5.0% to 183.3p. Looking ahead, it targets like-for-like net revenue growth in the mid-single digits, excluding the US nutrition impact. "We enter 2023 as a strengthened business with enhanced financial, operational and brand resilience, and continued growth momentum," said CEO Nicandro Durante.
from invezz,
Man Group (LON: EMG) share price went parabolic, becoming the best performer in the FTSE 250. The stock surged to a high of 271.2p on Tuesday, slightly below its all-time high of 273p. It has surged by more than 268% from its lowest point during the pandemic.
The most important signal is that Man Group stock price has formed a cup and handle pattern. In fact, it has completed the handle section and retested the upper part of the cup. In most periods, this is one of the most accurate bullish signs.
Therefore, with its volume rising, there is a likelihood that the stock will continue soaring in the coming months. If this happens, the next logical level to watch will be at 300p.