Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK market update – Greggs raises forecast, Melrose warns on supply constraints

Stock MarketsOct 05, 2021 07:36
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Samuel Indyk

Investing.com – At 07:31BST, FTSE 100 Futures are trading higher by 0.3% at 7,005.  

In FX markets, GBP/USD is trading at 1.3592, EUR/GBP is trading at 0.8532. The US Dollar Index is up 0.2%.

Today’s calendar highlights include UK, Eurozone and US services and composite PMIs, Eurozone PPI, US trade balance, US ISM non-manufacturing PMI.

Stocks

Greggs (LON:GRG) - Two-year like for like for Q3 sales up 3.5% despite staffing and supply chain disruption. Subject to any unexpected COVID disruption, expect full year outcome to be ahead of previous expectations.

BHP (LON:BHPB) - Reportedly in talks with Ivanhoe Mines to buy into the Western Foreland copper project in the Democratic Republic of Congo.

Tesco (LON:TSCO) - Close to settling the final meaningful legal action from shareholders over the 2014 accounting crisis. Could announce it has reached a an agreement with a group on institutional investors over a “substantial payout” alongside results on Wednesday. 

AstraZeneca (LON:AZN) - Requested an Emergency Use Authorization (EUA) to the US Food and Drug Administration (FDA) for its Covid-19 prophylaxis AZD7442.

Melrose Industries (LON:MRON) - Supply constraints in automotive industry affects performance of the company’s Automotive and Powder Metallurgy divisions.  At present the timing and duration of these constraints is uncertain, but recently the consensus view is that they have lengthened.  There are a number of scenarios possible, but it is likely these are below previous expectations. Melrose is confident that the scale of the impact on profitability from any revenue adjustment is in {{0|line}} with previous guidance given on margin drop-through, further underlining the good progress being made with the restructuring of these businesses

Anglo American (LON:AAL) - Seamus French to leave at the end of 2021 and will be replaced as CEO of Bulk Commodities by Themba Mkhwanazi, currently CEO of Kumba Iron Ore. Mpumi Zikalala, currently Managing Director of De Beers Managed Operations, appointed as CEO of Kumba.

Great Portland Estates (LON:GPOR) - £14.3 million of new annual rent signed in the quarter to 30 September, market lettings 10.4% ahead of March 2021 ERV. Sold 60 Old Street, EC1 for £181.5 million, reflecting 5% premium to March 2021 valuation. Expect healthy demand to persist and have a further £3.3 million of lettings under offer 7.3% ahead of ERV and £38 million of new annual rent in negotiation.

Assura (LON:AGRP) - Growing portfolio of 625 properties with current annualised rent roll of £127.5 million. Added 27 properties to our portfolio in H1, comprising seven new development completions and 20 acquisitions for a combined total cost of £117 million.

ICG Enterprise Trust (LON:ICGT) - NAV per Share of 1,523p, NAV per Share Total Return of 11.1% during H1. Second quarter dividend of 6p per share, taking total for the period to 12p. Intention reaffirmed to declare total dividends of at least 27p per share during the financial year.

Scs Group (LON:SCSS) - FY gross sales increased 21.0% to £324.5 million. Underlying profit before tax of £18.4 million (2020: £0.9 million). One year like-for-like order intake down only 1.5%, despite being closed for 17 weeks in 2021, compared with 9 weeks in 2020. Recommended final dividend of 7.0p per share. Year to date trading has been in {{0|line}} with the Board's expectations.

Hotel Chocolat (LON:HOTC) – FY revenue increase of 21% to £164.6 million. Underlying EBITDA of £28.6 million (FY20: £21.6 million). Group trading is in line with management expectations for the first 13 weeks of FY22.

UK market update – Greggs raises forecast, Melrose warns on supply constraints
 

Related Articles

Mahindra Group ties up with Jio-BP for EV products
Mahindra Group ties up with Jio-BP for EV products By Reuters - Dec 08, 2021

BENGALURU (Reuters) - Indian autos-to-technology conglomerate Mahindra Group said on Wednesday that it had entered into an agreement with a joint venture of Reliance Industries...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Rahina Mirembe
Rahina Mirembe Oct 05, 2021 9:02
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I think if the demand is high its ok but when it is low that would be a problem
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email