PSH Pershing Square Holdings Ltd

The FTSE closed higher in first week of June boosted by gains from Ocado Group PLC, Renishaw PLC and Entain PLC, which offset drops from the biggest decliners of the session, Rolls-Royce Holdings PLC, Associated British Foods PLC and Pershing Square Holdings Ltd. "Overall, it appears that the U.S. recovery is in the right place for most investors... Still, traders will want to see today's momentum last beyond the weekend, since it has been a dull few weeks and an uptick in both up and down volatility would be welcome," IG says.

Companies News: 

Castillo Copper Raises A$11.7 Mln

Castillo Copper Ltd. said Friday that it has raised 11.7 million Australian dollars ($9.0 million) to accelerate the development of its core Mt. Oxide site in Australia and key Zambia projects.

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Rosslyn Data Technologies Sees FY 2021 Earnings Loss; CFO Steps Down

Rosslyn Data Technologies PLC said Friday that it expects to swing to a fiscal 2021 earnings loss and that Chief Financial Officer Ash Mehta will step down.

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MyHealthChecked 2020 Loss Widened on Higher Costs; Appoints New CFO, COO

MyHealthChecked PLC reported Friday a widened pretax loss for 2020 on higher costs and said it has appointed Gareth Davies as its new chief financial and operations officer with immediate effect.

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Polarean Imaging 2020 Pretax Loss Widened, Revenue Fell

Polarean Imaging PLC said Friday that its 2020 pretax loss widened as revenue fell and that it expects to obtain approval from the U.S. Food and Drug Administration for a new drug application.

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Baltic Classifieds Group Preparing London IPO

Baltic Classifieds Group PLC said Friday that it is preparing a potential initial public offering on the main market of the London Stock Exchange, and that it plans to raise funds to support its future growth ambitions and repay debt.

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VR Education Attracts Several New Enterprise Clients

VR Education Holdings PLC said Friday that its Engage software platform has attracted a number of new enterprise customers and is increasing the average annual contract value per client.

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Creo Medical Group 2020 Pretax Loss Widened; Acquisitions Boosted Revenue

Creo Medical Group PLC said Friday that pretax loss widened in 2020 but that recent acquisitions led to the company's first significant revenue.

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SpaceandPeople Swung to 2020 Pretax Loss, Revenue Fell

SpaceandPeople PLC said Friday that it swung to pretax loss for 2020 as revenue fell due to coronavirus.

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Tatneft 1Q Net Profit, Revenue Rose

Tatneft PJSC said Friday that net profit and revenue for the first quarter of 2021 rose from the previous quarter.

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Artisanal Spirits Shares Rise in Stock-Market Debut

Shares of Artisanal Spirits Company PLC rose 4.9% as the company started trading on London's junior AIM, implying a market capitalization of 81.8 million pounds ($115.4 million).

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Novatek Reaches Financing Agreements for Siberian Gas Chemical Plant

Russia's Novatek said Friday that it has reached a preliminary agreement with Gazprombank and PJSC Sberbank to finance the construction of a gas chemical plant on Siberia's Yamal peninsula.

 
Market Talk: 

Barclays Seen as a Buying Opportunity After 1Q

1007 GMT - Barclays's investment-bank revenue trends can outperform market expectations, Jefferies says after meeting with the bank's chief financial officer. The U.K. lender has been a beneficiary of dislocation, and equities and advisory remain robust, Jefferies says. "Commentary around credit trends lend conviction to our estimates for net recoveries in the second and third quarter," the U.S. bank says, adding that it would use the relative weakness Barclays experienced after posting its first-quarter results as a buying opportunity. Shares are down 0.5% at 185.48 pence.

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B&M European Value Retail's FY 2022 Outlook Could Weigh on Shares

0922 GMT - B&M European Value Retail has delivered a formidable fiscal 2021 but the revenue outlook for fiscal 2022 looks disappointing to many investors, according to Barclays. The convenience retailer's fiscal year ended so strongly that it may have pulled forward some sales and profit at the expense of fiscal 2022, Barclays says. The understandable reluctance to offer more precise guidance on fiscal 2022 is unhelpful for sentiment and it feels as if the stock could potentially drift over the summer, the British bank warns. "While we still think B&M is a very interesting medium-term growth story, we also think the valuation is largely up with events," it says. Barclays has an equal rating on the stock and a target price of 550 pence.

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Pennon's Use of Viridior Proceeds Offers Something for Everyone

0854 GMT - Water utility company Pennon will use proceeds from the Viridior sale for buybacks, a special dividend, and to acquire Bristol Water for an enterprise value of GBP814 million. This should be well received by the market as it provides something for all--growth and yields, Citi says. Pennon's transaction implies a 47% premium to the regulatory asset base of GBP553 million posted in March, the U.S. bank says. "While the premium looks full on first sight, similar to past financial buyer transactions, we highlight the excellent track record from Pennon management in extracting synergies and delivering cost savings," Citi says. Citi retains its buy rating and 1,034-pence target price. Shares are flat at 1,090 pence.

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GSK to Strengthen Integration of Vaccine Business

0853 GMT - GlaxoSmithKline is expected to continue integrating its vaccine business into its pharma division, UBS says, as it notes that questions had arisen from investors about a possible separation of vaccines and pharma. "We think vaccines are here to stay," the bank says. For example, the British pharma company's shingles vaccine, named Shingrix, is a source of sales growth and margin expansion, and its commercial leadership is in the hands of the pharma division, UBS says. The company's partnership with CureVac is seen as a matter of discussion at GSK's coming capital markets day, as well as new flu vaccines entering trials, according to UBS.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

June 04, 2021 12:16 ET (16:16 GMT)

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