By Samuel Indyk
Investing.com – At 07:28GMT, FTSE 100 futures are trading lower by 0.2% at 7,513.
In FX markets, GBP/USD is trading at 1.3550, EUR/GBP is trading at 0.8332. The US Dollar Index is up 0.2%.
Bitcoin is trading at $37,036.
Today’s calendar highlights include monetary policy decisions from the BoE and ECB, Eurozone Services and Composite PMI, UK Services and Composite PMI, Eurozone PPI, US Jobless Claims, US Factory Orders, US ISM Non-Manufacturing PMI.
Stocks
Shell (LON:RDSa) - Q4 adjusted earnings up 55% to $6.39 billion. Total production for sale increased 2% to 3.142 million boe/d. Income attributable to shareholders was $11.5 billion, which included non-cash gains of $3.2 billion due to the fair value accounting of commodity derivatives and net gains on sale of assets of $3.0 billion. Expects Q1 dividend to increase 4% to $0.25 per share. Announced share repurchase programme of $8.5 billion for the first half of 2022.
BT (LON:BT) / Discovery (NASDAQ:DISCA) - BT has entered exclusive discussions with Discovery, Inc. on a deal to create a new sport and entertainment offering for customers in the UK. The new business would be a 50/50 joint venture, bringing together BT Sport with Eurosport UK. BT Group (LON:BT) are aiming to conclude the exclusive discussions with Discovery in early Q1 for the new company to be operational later this year.
BT - Revenue down 2% in 9-months to 31st December to £15.676 billion. Adjusted EBITDA up 2% to £5.708 billion. Group adjusted revenue now expected to be down around 2% for FY22, all other outlook metrics unchanged.
Playtech (LON:PTEC) - Has been contacted by TTB Partners on behalf of an investor group regarding a possible offer. The Board confirms that it has given the requested consent to TTB. There can be no certainty as to whether this will result in an offer for the Company, nor as to the terms on which any offer might be made.
M&C Saatchi (LON:SAA) - The Independent Directors have rejected another takeover approach from AdvT. The Independent Directors have requested, and the Takeover Panel has consented to, an extension to the deadline by which AdvT is required either to announce a firm intention to make an offer for M&C Saatchi in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer. Such announcement must now be made by not later than 5.00 p.m. on 3rd March 2022.
Compass Group (LON:CPG) - Q1 organic revenue grew 38.6%, with revenues reaching 97% of pre-COVID levels. Guidance for FY22 remains unchanged, expect full year organic revenue growth of 20 - 25%, with quarterly growth rates moderating through the year.
Renishaw (LON:RSW) - H1 revenue increased 27% to £325.2 million. Adjusted profit before tax increased by 94% to £84.2 million, with return on revenue increasing to 26% from 17% last year. Interim dividend of 16.0 pence per share. Expect full year revenue to be in the range of £650-£690 million. Adjusted profit before tax is expected to be in the range of £157-£181 million.
Cranswick (LON:CWK) - Performance over the festive trading period was robust and comfortably ahead of the same period in 2020. Far East export sales were, as anticipated, lower than the same quarter last year due to market prices falling back from the elevated levels experienced over the previous two years and the ongoing suspension of the Norfolk primary pork processing facility's China export licence. The Board's expectations for the Group's trading performance in the current year are unchanged.
JTC PLC (LON:JTC) - Expects that the full year results will be in line with market expectations. Annualised value of new business won increasing circa 16% on a YoY basis to £20.9 million. The Company maintains its medium-term guidance metrics of 8%-10% net organic revenue growth and underlying EBITDA margin of 33%-38%.
Future PLC (LON:FUTR) - Group performance in the four months to 31st January is in line with expectations with good conversion to profit and cash. This performance underpins the Group's upgraded full year outlook as announced at the FY 2021 results.
Hikma Pharmaceuticals (LON:HIK) - Completed acquisition of Teligent for $45.75 million.
De La Rue (LON:DLAR) - Signed a contract with the Oman Tax Authority to implement a Digital Tax Stamp solution for excisable goods, as announced on 1st February 2022 in Oman.
ScS Group (LON:SCSS) - Order intake for the first half of the year was in line with the Board's expectations, with one year like-for-like order intake growth of 16.6%. Order book has grown significantly against previous comparative periods, driven by the ongoing demand and supply chain challenges which have extended product lead times. Remains on track to meet full year expectations.
Virgin Wines (LON:VINO) - H1 revenue increased 55% to £40.5 million. Repeat sales from core channels up 6.2% to £29.6 million. The commercial arm of the business continues to perform well, trading significantly ahead of expectations. Due to the uncertain trading and macro environment, coupled with numerous headwinds in relation to increased cost pressure, the Group now expects revenue and profit for the year ending June 2022 to be slightly below consensus market estimates.