FTSE 100 at Edge Higher; The Ukrainian crisis remains in the center of attention

FTSE 100 opens higher as traders view Ukraine crisis

06:39 GMT – The FTSE 100 is set to open slightly higher as investors continue to monitor developments in the conflict between Russia and Ukraine. Betting firm IG sees London’s blue-chip stock index starting 9 points. US President Joe Biden said on Saturday that Russian President Vladimir Putin could not stay in power. “For investors, this means they have to be prepared for a counter-reaction from Russia or even a much more intense invasion of Ukraine,” says AvaTrade. “Traders’ biggest worry is that the United States has gone too far and is getting closer to a direct conflict with Russia.” ([email protected])

 
Companies News: 

National Grid to sell 60% stake in UK gas transmission network

National Grid PLC has agreed to sell a 60% stake in its UK gas transmission business to a consortium of infrastructure investors consisting of Macquarie Asset Management and British Columbia Investment Management Corp.

Journeo 2021 pre-tax profit increased on rising revenue

Journeo PLC said on Monday that 2021 profit and pre-tax revenue increased, and the first quarter of this year saw good order intake and a strong pipeline of sales opportunities beyond 2023.

NatWest buys 4.91% stake from UK government for £1.2bn

NatWest Group PLC said on Monday it had agreed to buy 549.9 million of its shares from Her Majesty’s Treasury for 1.21 billion pounds ($1.60 billion).

Lookers to sell and let concession in London for £28m

Lookers PLC announced on Monday that it has completed the sale and leaseback of a concession in Battersea, London, with Urban Logistics REIT PLC for 28 million pounds ($36.9 million).

Brighton Pier first half pre-tax profit, revenue jump on strong underlying performance

Brighton Pier Group PLC said on Monday that pre-tax revenue and profit increased for the first half of the 2022 financial year, driven by underlying performance and the integration of Lightwater Valley.

Barclays expects $593m oversold in U.S. stocks

Barclays PLC said it expected to record an impact of 450 million pounds ($593.1 million) net of tax after the overissue of securities under its US registration exceeded the recorded amount.

Acacia Pharma accepts €94.7 million takeover of Eagle Pharmaceuticals

Acacia Pharma Group PLC announced Monday that it has accepted a takeover offer from Eagle Pharmaceuticals Inc. that values ​​the company at around 94.7 million euros ($104 million).

Ted Baker rejects takeover approaches from Sycamore Partners

Ted Baker PLC said on Monday it had received two non-binding unsolicited proposals from Sycamore Partners Management LP for a possible takeover of the clothing brand which it rejected, saying they “significantly undervalued” the company.

Xpediator confirms 2021 guidance for increased adjusted profit before tax

Xpediator PLC said on Monday it continued to expect adjusted pre-tax profit for 2021 to be well over £8.5 million ($11.2 million), up from £7.2 million in 2020.

Ten Lifestyle secures £1.5m loan; Said business is in line with views

Ten Lifestyle Group PLC said on Monday it had agreed to take out a loan of 1.5 million pounds ($2 million) from the wife of non-executive chairman Bruce Weatherill and was continuing to operate as expected. from the administration board.

RTC Group 2021 pre-tax profit fell, first-half profitability impacted by contractual demands

RTC Group PLC said on Monday that 2021 pre-tax profit fell after factoring in higher costs, and that it expects conversion expenses and disruption from its UK Network Rail contract UK will continue in the current year and have a significant effect on first-half profitability. .

 
Market Talk: 

Selling price for National Grid’s UK gas arm at lower end of expectations

National Grid has agreed to sell a 60% stake in its UK gas transmission and metering business for £2.2bn in cash and £2.0bn in debt financing. The price reached implies a premium of 33% over the base value of regulatory assets, which is at the lower end of market expectations, according to Citi. But the bank does not expect shares of the infrastructure company to move significantly following the announcement. “National Grid shares now trade as one of the most expensive regulated names among UK utilities, where we believe prices are important in the shares with the market looking for a defensive name with protection against inflation,” Citi said. The bank has a neutral rating on the stock. ([email protected])

 

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

March 28, 2022 03:11 ET (07:11 GMT)

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Christi C. Elwood