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UK pre-market stocks update – Rio Tinto, THG, 888, Elementis

Stock MarketsJan 18, 2022 07:38
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© Reuters

By Samuel Indyk

Investing.com – At 07:31GMT, FTSE 100 futures are trading lower by 0.2% at 7538.

In FX markets, GBP/USD is trading at 1.3636, EUR/GBP is trading at 0.8356. The US Dollar Index is up 0.1%.

Bitcoin is trading at $41,964.

Today’s calendar highlights include German ZEW Economic Sentiment, Canadian Housing Starts, Empire State Manufacturing, US NAHB Housing Market Index.

Data

UK unemployment rate fell to 4.1% versus expectations of unchanged at 4.2%. Employment increased by 60K in the three months to November, below expectations of 125K. Average earnings excluding bonuses were in line with expectations at 3.8%. Vacancies hit a new record high of 1,247,000 in the three months to December.   

Stocks

Rio Tinto (LON:RIO) - Q4 Pilbara iron ore production fell to 84.1 million tonnes from 86.0 million tonnes previously. Mined copper 132.0K tonnes from 132.5K tonnes. Expects to ship between 320-335 million tonnes from the Pilbara region in 2022, slightly weaker than expected.

888 Holdings (LON:888) - FY total revenue up 14% to $972 million. William Hill International transaction expected to complete in Q2. More states set to launch SI Sportsbook using 888’s in-house platform in 2022. 

Energean (LON:ENOG) - 2021 average working interest production was approximately 41.0 kboed (72% gas), at the mid-point of the revised full year guidance range of 40.0 - 42.0 kboed. 2021 revenue and EBITDAX reached records of $495.0 million and $202.9 million, respectively. 2022 average working interest production, excluding Israel, is expected to be 35.0 - 40.0 kboed. Israel production rate in 2022 is expected to average 25.0 - 30.0 kboed.

Elementis (LON:ELM) - Adjusted operating profit for 2021 is expected to be in the range of $105-$107 million, modestly ahead of expectations. Net debt (excluding lease liabilities) at the end of 2021 is anticipated to be approximately $400 million.

Just Group (LON:JUSTJ) - Retirement Income sales up 25% to £2.7 billion, of which Defined Benefit De-risking sales were up 28% to £1.9 billion. New business profits grew by a "low double digit" percentage, with lower new business strain. Underlying organic capital generation more than double the FY20 result, exceeding 2022 target a year ahead of expectations.

THG (LON:THG) - Q4 revenue up 29.7% to £711.7 million. Up 95.7% on the same period two years ago. FY 21 revenue up 37.% to £2.2 billion. Expects FY 2022 revenue growth of 22.0%-25.0%. FY 2021 adjusted EBITDA margin is expected to be in the range of 7.4%-7.7%, compared to market expectations of circa 7.9%, after taking into account circa 90 basis points of adverse foreign currency movements

Qinetiq (LON:QQ) - Continued to achieve excellent order intake with orders now at more than £900 million and revenue, operating profit and cash flow in line with expectations. With more than 95% coverage of FY22 revenue under contract, QinetiQ remains confident of delivering in line with expectations for FY22.

Petershill Partners PLC(LON:PHLL) - In total, Petershill Partners completed $458 million in acquisitions in Q4 2021, all in the general partners of five private equity firms. The acquisitions included four new investments including Arsenal Capital Partners, Wind Point Partners and the previously announced Symphony Technology Group, all alongside the Petershill IV private fund. A 'follow-on' acquisition of additional equity in Industry Ventures. It is expected that these acquisitions will be immediately accretive to consensus earnings forecasts.

IntegraFin Holdings (LON:IHPI) - On 31 December 2021, Funds Under Direction totalled £54.54 billion, representing an increase of 4.7% over the quarter.

Plus500 (LON:PLUSP) - The company’s status as a Preferred Technological Enterprise, as accredited by the Israeli Tax Authority under the tax regime in Israel has been extended for the financial years 2022-2026.

Marshalls (LON:MSLH) - Group revenue for the year ended 31 December 2021 was up 26% to £589 million and up 9% on the same period in 2019. Revenue growth in the second half of the year was 11% ahead of the comparative figures for 2019. The Board is revising its trading expectations for the year ended 31 December 2021 to be slightly ahead of its previous view.

Hotel Chocolat (LON:HOTC) - Total Group revenue for Q2 increased 37% compared to the prior year, and by 63% cent compared to the equivalent period in FY20. Now expects trading to be marginally ahead of management's expectations for the current financial year.

LXi REIT (LON:LXIL) - Proposed issue of new ordinary shares to raise target gross proceeds of approximately £125 million by way of a Subsequent Placing, Open Offer, Offer for Subscription and Intermediaries Offer.

Kier Group (LON:KIE) - Reportedly in discussions to purchase Tilbury Douglas, the construction unit of Interserve (LON:IRV).

Sound Energy (LON:SOU) / Angus Energy (LON:ANGSA) - Sound Energy believes a potential combination with Angus Energy would be a strategically compelling proposition. Sound is evaluating a possible offer for Angus that would comprise of 0.68 Sound shares for each Angus share.

Sectors

Utilities – The UK government is considering making payments to energy suppliers when wholesale gas prices rise sharply in a bid to soften the blow to consumers. Under the initiative, suppliers would receive payments when wholesale gas prices exceed a certain threshold so they would not pass the increase on to customers. (FT)

UK pre-market stocks update – Rio Tinto, THG, 888, Elementis
 

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som sithy
som sithy Jan 18, 2022 9:45
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Very positive
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