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UK update – Rio Tinto cuts iron ore shipment forecast, Pearson revenue up 10%

Stock MarketsOct 15, 2021 07:36

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UK update – Rio Tinto cuts iron ore shipment forecast, Pearson revenue up 10%

By Samuel Indyk

Investing.com – At 07:32BST, FTSE 100 Futures are trading higher by 0.3% at 7,208.

In FX markets, GBP/USD is trading at 1.3681, EUR/GBP is trading at 0.8483. The US Dollar Index is flat.

Today’s calendar highlights include Eurozone trade balance, US retail sales, Empire Manufacturing, University of Michigan consumer sentiment.

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Rio Tinto (LON:RIO) - Cuts 2021 iron ore shipments forecast on tighter labour market. Now expects 2021 Pilbara iron ore shipments between 320mt-325mt, down from 325mt-340mt. Also cuts refined copper production guidance to 190kt-210kt from 210kt-250kt. Q3 Pilbara iron ore output 83.3mt, down from 86.4mt previously.

Hargreaves Lansdown (LON:HRGV) - Assets under administration of £138.0 billion as at 30 September 2021, up 2% since 30 June 2021. Net new business of £1.3 billion in the period. Added net new clients of 23,000. Normalisation of revenues post pandemic is in line with company expectations.

AstraZeneca (LON:AZN) (NASDAQ:AZN) - Imfinzi plus tremelimumab significantly improved overall survival in HIMALAYA Phase III trial in 1st-line unresectable liver cancer.

Pearson (LON:PSON) - Group underlying revenue up 10% for the 9-month period to 30th September 2021. Strong performance in Assessment & Qualifications helps offset declining enrolments in Higher Education. Pearson says it remains on track to deliver adjusted operating profit for FY21 in line with market expectations.

Hochschild Mining (LON:HOCM) - Exercised its option to start earning in to a 60% interest in the Snip gold project located in the Golden Triangle and in Tahltan Territory, British Columbia, Canada, and held by Skeena Resources.

Jupiter Fund Management (LON:JUP) - Assets under management increased £0.4 billion in three months to 30th September to £60.7 billion. Positive market movements of £1.0bn were partially offset by £0.6bn of net outflows.

Land Securities (LON:LAND) - As at 12 October 2021 - collection day 10 - 85% of the net rent due on 29 September had been paid, compared with 81% for the June quarter to date.

Compass Group (LON:CPG) - Announced a commitment to reach Net Zero greenhouse gas emissions across its global operations and value chain by 2050.

Mercantile Investment Trust (LON:MRCM) - In the six months to 31st July 2021 the Company produced a total return on net assets of +25.3%. Expect revenue for the financial year ending 31st January 2022 to be significantly higher than 2021. Declared second quarterly interim dividend of 1.35 pence per share.

Mediclinic International (LON:MDCM) - H1 group revenue up 12%; ahead of pre-pandemic levels across all three divisions. Material recovery in Group EBITDA margin to around 15.5% from 12.1%.

Loungers (LON:LGRS) - Over the 20 weeks to 3 October 2021, the Group delivered like for like sales growth of 26.6%, using the period 20 May to 6 October 2019 as the comparator.

National Grid (LON:NG) - 1000MW IFA interconnector will now come back to service on 20th October, ahead of the previously planned 23rd October.

Tullow Oil (LON:TLW) - Upgraded to Buy from Hold at Berenberg.

Antofagasta (LON:ANTO) - Upgraded to Sector Perform from Underperform at RBC.

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Franco Paul Oct 15, 2021 8:16

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Any thoughts about this pair ? Is it a right to Sell ?

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Franco Paul Oct 15, 2021 8:14

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What could be the overall trend for this pair ?? Is it Bullish ??

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UK update – Rio Tinto cuts iron ore shipment forecast, Pearson revenue up 10%

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